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| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Upmarket housebuilders hit as investors digest Autumn Statement Upmarket housing stocks took a hit but airlines were flying higher as investors reacted to the UK's Autumn Statement on Wednesday. Shares in Berkeley Group Holdings were 76p off at 2468p and estate agency Foxtons subsided 2.6p to 152.8p as Chancellor George Osborne introduced a new stamp duty regime set to benefit anyone buying a home worth less than £937,000.
But house-builders that build mid-market and cheaper homes were on the up, with Persimmon rising 15p to 1540p, Barratt Developments gaining 7.9p to 458.9p, Bovis Homes advancing 14.5p to 872p and Taylor Wimpey increasing 2.2p to 132.5p.
Measures to abolish air passenger duty for children under 12 lifted airline stocks, with Easyjet ascending 40p to 1668p and International Airlines Group (IAG) 5.8p higher at 466.1p.
Jasper Lawler at CMC Markets said: "The big move higher in airline stocks reflects not just the impact of the cut in APD's for children but also the increased likelihood the UK will follow Scottish plans to scrap it altogether."
The FTSE 100 Index fell 25.47 points to 6716.63 amid downbeat economic news from across the Pond.
Employment in the US grew by 208,000 people in November, according to consultancy ADP, worse than the 222,000 analysts had been expecting.
Meanwhile, Markit revealed the final reading of its purchasing managers' index (PMI) for Eurozone services activity was revised to 51.1 from the initial estimate of 51.3. The composite PMI was also revised to 51.1 from 51.4.
The UK services PMI increased to 58.6 in November from 56.2 the previous month, Markit said. Analysts had expected a reading 56.5.
Investec slashed its target for the share price of Weir Group by 17%, causing the oil services company's shares to leak 29p to 1798p.
But accountancy software firm Sage jumped 18.9p to 422.1p after revealing a 65.3% rise in annual profits to £298m and said it was on track to hit its financial targets for 2015.
Market Movers
techMARK 2,940.59 +0.06%
FTSE 100 6,716.63 -0.38%
FTSE 250 15,811.55 -0.14% |
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| | FTSE 100 - Risers
Sage Group (SGE) 422.10p +4.69%
Admiral Group (ADM) 1,284.00p +2.88%
ARM Holdings (ARM) 915.00p +2.69%
Sports Direct International (SPD) 690.50p +2.68%
easyJet (EZJ) 1,668.00p +2.46%
Ashtead Group (AHT) 1,069.00p +1.81%
3i Group (III) 450.00p +1.81%
Standard Chartered (STAN) 954.90p +1.55%
Randgold Resources Ltd. (RRS) 4,331.00p +1.50%
Fresnillo (FRES) 737.50p +1.44%
FTSE 100 - Fallers
BT Group (BT.A) 408.30p -2.30%
Reed Elsevier (REL) 1,088.00p -1.98%
Reckitt Benckiser Group (RB.) 5,150.00p -1.90%
Royal Mail (RMG) 398.00p -1.85%
Coca-Cola HBC AG (CDI) (CCH) 1,401.00p -1.82%
Capita (CPI) 1,051.00p -1.59%
Weir Group (WEIR) 1,798.00p -1.59%
Diageo (DGE) 1,945.00p -1.54%
Royal Dutch Shell 'B' (RDSB) 2,259.00p -1.44%
SABMiller (SAB) 3,385.00p -1.40%
FTSE 250 - Risers
EnQuest (ENQ) 49.00p +13.32%
Centamin (DI) (CEY) 49.46p +5.75%
Northgate (NTG) 561.00p +5.35%
Brewin Dolphin Holdings (BRW) 289.20p +3.73%
Spire Healthcare Group (SPI) 334.00p +2.93%
Countrywide (CWD) 437.00p +2.85%
Savills (SVS) 650.00p +2.69%
Aveva Group (AVV) 1,419.00p +2.60%
Bank of Georgia Holdings (BGEO) 2,196.00p +2.52%
Acacia Mining (ACA) 247.10p +2.28%
FTSE 250 - Fallers
Just Eat (JE.) 307.00p -9.49%
Soco International (SIA) 271.80p -5.13%
Afren (AFR) 47.43p -4.08%
Daejan Holdings (DJAN) 5,215.00p -3.25%
Infinis Energy (INFI) 220.80p -3.16%
Saga (SAGA) 150.70p -3.15%
Berkeley Group Holdings (The) (BKG) 2,468.00p -2.99%
Home Retail Group (HOME) 192.10p -2.83%
Drax Group (DRX) 585.50p -2.82%
Renishaw (RSW) 1,906.00p -2.80%
FTSE TechMARK - Risers
DRS Data & Research Services (DRS) 14.00p +7.69%
Filtronic (FTC) 23.75p +5.56%
Anite (AIE) 79.75p +4.93%
Triad Group (TRD) 15.75p +2.44%
Oxford Biomedica (OXB) 5.50p +1.85%
Torotrak (TRK) 14.25p +1.79%
Vectura Group (VEC) 133.50p +0.56%
Promethean World (PRW) 24.75p +0.51%
Consort Medical (CSRT) 711.50p +0.35%
Skyepharma (SKP) 373.00p +0.27%
FTSE TechMARK - Fallers
Optos (OPTS) 231.75p -3.44%
NCC Group (NCC) 202.50p -2.53%
BATM Advanced Communications Ltd. (BVC) 15.38p -2.38%
XP Power Ltd. (DI) (XPP) 1,400.00p -2.10%
Innovation Group (TIG) 30.25p -1.63%
E2V Technologies (E2V) 171.50p -1.15%
Kofax Limited (DI) (KFX) 427.12p -1.13%
SDL (SDL) 394.25p -1.00%
Ricardo (RCDO) 619.00p -0.88%
Sepura (SEPU) 148.25p -0.67% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks mostly higher ahead of ECB policy decision European stocks finished mostly higher as hopes of further stimulus measures built ahead of Thursday's European Central Bank policy decision. President Mario Draghi has said the ECB would consider buying government bonds if inflation remained dangerously low for too long.
However, most analysts see the ECB holding back on such a move this week.
"Hopes of a mass bond buying programme by the European Central Bank are likely to be dashed despite earlier remarks made by ECB President Mario Draghi, as Eurozone inflation - currently 0.3% - is less than a fifth of the bank's target of below but close to 2%," said BBA's chief economist Richard Woolhouse
Capital Economics said the ECB may launch full-on quantitative easing this week or in January but warned that even then it may not be enough to turn around the stagnant economy.
In another sign of weakness in the bloc, Markit revealed the final reading of its purchasing managers' index (PMI) for Eurozone services activity was revised to 51.1 from the initial estimate of 51.3. A level above 50 signals expansion.
Eurozone retail sales rose 1.4% year-on-year in October following a 0.5% increase a month earlier, less than the 1.6% gain expected by the market.
The UK services PMI increased to 58.6 in November from 56.2 the previous month, Markit said. Analysts had expected a reading 56.5.
The HSBC PMI for Chinese services rose to 53 from 52.9 a month earlier.
Separate data from the National Bureau of Statistics and Federation of Logistics and Purchasing revealed China's non-manufacturing PMI rose to 53.9 in November from 53.8 in October.
In the US, the ADP Research Institute said employers added 208,000 last month, compared to forecasts of 222,000 and down from 233,000 in October.
The report comes ahead of the Labor Deparment's monthly jobs report on Friday which is expected to show companies added 230,000 non-farm payrolls in November and the unemployment rate held at 5.8%.
ISM revealed its non-manufacturing index rose to 59.3 in November from 57.1 in October, higher than the 57.5 forecast.
Markit's PMI for US services was revised down to 56.2 in November from 56.3, surprising analysts who had expected to see a reading of 56.5.
Nexity, Salzgitter
French real estate services firm Nexity SA slipped as Groupe BPCE sold a 4% stake.
Salzgitter advanced after the steelmaker said insurance policies will cover most losses linked to Russia's discontinuation of its Black Sea pipeline project.
Telenor ASA and TeliaSonera gained after the phone carriers agreed to combine their Danish businesses.
Sage edged higher after reporting an increase in 2014 financial year profits and saying that is was on track to meet targets in 2015.
Brent crude futures rose 0.33% to $70.80 per barrel, according to the ICE. |
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| | US Market Report | | US open: Markets mixed as ADP data misses expectations and oil stocks continue rebound US stocks were mixed on Wednesday as the ADP employment results came out lower than expected and the energy sector continued to rebound from the recent drop in oil prices.
The Dow Jones Industrials fell 0.08% early on to 17,865.84, while the S&P 500 rose 0.02% to 2,067.01 and Nasdaq increased 0.12% to 4,761.48.
The US ADP employment report showed private payroll gains of 208,000 in November, undercutting analyst expectations of 222,000. The ADP figures came ahead of the official employment report from the Labor Department later in the week and are often used as a rough guide.
Barclays Research said: "The significant revisions to the ADP employment report limit its usefulness in forecasting; however, we view the slight deceleration in private payroll growth from October as broadly in line with our outlook for private non-farm payroll growth of 190k in Friday's employment report."
Senior US economist Paul Dales from Capital Economics added: "Stepping back a bit from November's data, arguably more important is that both the ADP and official measure of payrolls have risen by more than 200,000 in at least seven of the past eight months."
"We see no reason why that can't continue, thereby forcing the unemployment rate lower and putting more pressure on the Fed to raise interest rates earlier rather than later."
Meanwhile, West Texas Intermediate crude futures were rising by 0.8% to hit $67.42 a barrel after Tuesday's drop and over on COMEX, gold futures were moving up 0.46% to $1,204.90.
The dollar was declining against the pound while advancing against the euro and the yen.
In company news, energy stocks were on the rise including Anadarko Petroleum, Devon Energy, Chevron, Occidental Petroleum and Conocophillips.
Mining and construction equipment maker Caterpillar gained following Tuesday's revelation that US construction spending had grown 1.1% in October, beating analyst estimates for a rise of 0.6%.
UnitedHealth Group also advanced after its target was increased by Credit Suisse from $95 to $110 in a research note released on Wednesday. |
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| | Broker tips: Oil stocks, Weir, Sage | | Madrid-listed Repsol and London-listed Royal Dutch Shell are the best positioned in the current environment, the bank said. It also highlighted upside potential for UK producer BP which has the "biggest opportunity to address the cost base".
Barclays kept an 'overweight' rating on all three stocks.
Investec has slashed its target for the share price of industrial engineering group Weir by 17% from 1,900p to 1,585p, saying that almost every important data point for the company is "trending negatively". It kept a 'sell' rating.
Investec estimates that falling commodity prices - oil, gas and iron ore - will have a big impact on volumes for Weir. "Headwinds are multiple (and growing)," the broker said.
Westhouse Securities has reiterated it 'add' recommendation and 467p target price for Sage Group after the accountancy software firm reported a "decent set of figures" in its annual report on Wednesday.
Westhouse didn't make any changes to its forecasts following the results, but said the figures provided a "degree of reassurance following management change and a period of frustration over perceived lack of clarity and delivery". | | |
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