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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 open: UK stocks jump as investors await US employment report UK stocks jumped on Friday morning as investors adopted an bullish approach ahead of the all-important US unemployment report.
The FTSE 100 was up 0.7% at 6,723 in early deals.
Equities fell on Thursday after a largely underwhelming press conference with European Central Bank (ECB) president Mario Draghi, who said that the monetary authority would wait until next year to consider injecting stimulus into the Eurozone. The comments came after the ECB kept monetary policy unchanged at its meeting.
"Quantitative easing is still very much on the agenda in Europe but markets had gotten a little ahead of themselves and those who had expected action at this meeting or even the first one of 2015 need to reposition which explains the euro strength and weakness in stocks," said analyst Jasper Lawler from CMC Markets UK.
With the ECB firmly out of the way, investors were looking ahead to Friday afternoon's non-farm payrolls data Stateside to gauge the health of the US labour market, seen as a key determining factor in the Federal Reserve's outlook for interest rates.
Analysts have pencilled in a 230,000 gain in non-farm payrolls for November, up from a worse-than-expected 214,000 in October, though the jobless rate is forecast to have remained steady at 5.8%.
Lawler said that "anything above 200k without being too close to 300k and risking a sooner rate hike from the Fed should be supportive of stock markets but a miss in estimates may be enough to see dollar weakness".
Berkeley Group impresses with H1 results
Housebuilder Berkeley said it saw a return to normal trading conditions in the first half from a "high point" in 2013, but was still able to grow interim profits by 80% as it delivered an upbeat outlook, helping the stock to jump early on.
Sector peers Barratt Development, Crest Nicholson, Redrow and Taylor Wimpey were also on the rise.
Civil engineering group Balfour Beatty gained after rejecting a proposal from John Laing Infrastructure Fund to acquire its entire public-private partnership portfolio for about £1bn, saying it "falls significantly short of its own view of the value of the portfolio".
Telecoms giant Vodafone was higher after Goldman Sachs lifted its recommendation on the stock to 'buy' and raised its target from 240p to 280p.
Broadcaster ITV was trading in the red after Exane BNP Paribas downgraded its rating to 'neutral'. |
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| | Market Movers
techMARK 2,970.40 +0.90%
FTSE 100 6,723.14 +0.66%
FTSE 250 15,947.61 +0.68%
FTSE 100 - Risers
Intertek Group (ITRK) 2,351.00p +3.84%
Carnival (CCL) 2,805.00p +2.75%
Vodafone Group (VOD) 229.30p +2.53%
Meggitt (MGGT) 512.50p +2.19%
CRH (CRH) 1,585.00p +1.93%
International Consolidated Airlines Group SA (CDI) (IAG) 474.70p +1.76%
Persimmon (PSN) 1,608.00p +1.71%
Land Securities Group (LAND) 1,200.00p +1.69%
Hammerson (HMSO) 631.00p +1.61%
Associated British Foods (ABF) 3,251.00p +1.59%
FTSE 100 - Fallers
Petrofac Ltd. (PFC) 774.00p -2.21%
Randgold Resources Ltd. (RRS) 4,233.00p -1.83%
Tullow Oil (TLW) 403.80p -1.25%
Anglo American (AAL) 1,273.00p -0.82%
BP (BP.) 423.45p -0.81%
Rio Tinto (RIO) 2,915.00p -0.63%
Fresnillo (FRES) 725.00p -0.62%
Capita (CPI) 1,043.00p -0.38%
BHP Billiton (BLT) 1,495.00p -0.33%
ITV (ITV) 213.80p -0.33%
FTSE 250 - Risers
Berkeley Group Holdings (The) (BKG) 2,633.00p +5.11%
Redrow (RDW) 300.40p +3.77%
Saga (SAGA) 157.20p +2.95%
Pace (PIC) 363.60p +2.89%
Go-Ahead Group (GOG) 2,615.00p +2.55%
Crest Nicholson Holdings (CRST) 378.60p +2.41%
Interserve (IRV) 588.50p +2.35%
Debenhams (DEB) 72.45p +2.26%
Balfour Beatty (BBY) 188.80p +2.22%
Redefine International (RDI) 51.20p +2.20%
FTSE 250 - Fallers
Bank of Georgia Holdings (BGEO) 2,053.00p -7.77%
Foxtons Group (FOXT) 153.50p -1.60%
Brit (BRIT) 247.40p -1.47%
Afren (AFR) 45.74p -1.46%
Serco Group (SRP) 167.20p -1.18%
Amec Foster Wheeler (AMFW) 885.00p -1.17%
Vedanta Resources (VED) 681.00p -1.09%
Barr (A.G.) (BAG) 581.00p -1.02%
Hunting (HTG) 549.50p -0.90% |
| | UK Event Calendar | | Friday December 05 INTERIMS
Berkeley Group Holdings (The), Polar Capital Technology Trust INTERIM DIVIDEND PAYMENT DATE
Amati VCT , Balfour Beatty, First Derivatives, Grafenia , Laird, Marshalls, Maven Income & Growth VCT, Mission Marketing Group, Pace, SABMiller, Scottish Mortgage Inv Trust, SThree, Stobart Group Ltd., William Hill INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Consumer Credit (US) (20:00)
Factory Orders (GER) (11:00)
Factory Orders (US) (15:00)
GDP (1st release) (EU) (10:00)
Goods Orders (US) (15:00)
Non-Farm Payrolls (US) (13:30)
Unemployment Rate (US) (13:30) GMS
Ruspetro SPECIAL DIVIDEND PAYMENT DATE
Aberdeen Asian Smaller Companies Inv Trust AGMS
Associated British Foods, Bezant Resources, Churchill Mining, Green Reit, James Halstead, LP Hill, Trading Emissions, Waterman Group TRADING ANNOUNCEMENTS
SThree FINAL DIVIDEND PAYMENT DATE
Aberdeen Asian Smaller Companies Inv Trust, Allocate Software, Ashmore Group, Genus, James Halstead, JPMorgan Overseas Inv Trust, JPMorgan Smaller Companies Inv Trust, Matchtech Group, NWF Group, Regenersis, Sky |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise ahead of Eurozone GDP, US non-farm payrolls European stocks advanced as investors after a report on Eurozone economic growth and the US non-farm payroll report. Eurozone gross domestic product grew by 0.8% in the third quarter, data is forecast to show at 10:00 London time.
Separately, German factory orders rose by 2.4% year-on-year in October, following a 0.7% drop the previous month. Analysts had pencilled in no change.
The reports come amid concerns about the health of the euro-area and a recent increase in pressure on the European Central Bank (ECB) to boost stimulus measures.
Despite calls for full-on quantitative easing to address dangerously low inflation and a stagnant economy, the ECB on Thursday held back from such a move.
President Mario Draghi said the ECB would consider buying government bonds at its next meeting if the economy continues to sees no improvement. However, he said current measures, including asset backed securities and covered bonds programmes, might be enough to turn things around.
European stocks had moved in to the red following the ECB's announcement on Thursday.
In the US, the attention now turns to the release of the US non-farm payrolls report which is forecast to show employers added 230,000 jobs in November. The unemployment rate is expected to hold at 5.8%.
The Federal Reserve said it is monitoring the labour market and economic data as it weighs whether the US is ready for its first interest rate increase.
Balfour Beatty turns down bid
Balfour Beatty advanced after the construction company turned down a £1bn offer for its portfolio of government-backed projects from John Laing Infrastructure Fund.
Rio Tinto Group declined after chief executive Sam Walsh said Glencore's trading-focused moto would impair a merger between the two mining companies.
Atlantia SpA slumped as Italian insurer Assicurazioni Generali SpA sold 11.6m shares at €19.26 euros each in the toll-road operator.
Zurich Insurance Group AG rallied after saying it is on track to meet its targets for 2016. |
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| | US Market Report | | US close: Markets in decline as Saudi Arabia cuts oil prices to US and Jobless claims undercut forecast US stocks declined on Thursday as Initial Jobless claims undercut expectations and the energy sector was struck with reports that Saudi Arabia cut January prices to the US and Asia.
The Dow Jones Industrials dropped 0.07% to 7,900.10, while the S&P 500 fell 0.12% to 2,071.92 and Nasdaq decreased 0.11% to 4,769.44.
US initial jobless claims reduced to 297,000 in the week ending 29 November, resuming the downward trend in line with consensus expectations of 295,000.
"Historically, the month of December has been kind to traders, and with the Dow 18,000 level tantalisingly close it should not be too long before we see a concerted effort from traders to hit this target.
"This slight stutter ahead of tomorrow's important non-farm payroll figures might just see a touch of caution hit traders, and that may not be a bad thing," said IG market analyst Alastair McCaig.
On Thursday morning it was reported that Saudi Arabia slashed its January oil prices to the US and Asia.
West Texas Intermediate crude futures fell by 0.85% to hit $66.81 a barrel after Wednesday's mild increase and Brent crude futures were also falling by 0.63% to $69.48 a barrel.
Capital Economics said: "Looking forward, the $45 slump in the price of Brent crude since June should provide a net boost to demand. Indeed, it will save consumers in the four major advanced economies over $200bn a year in motor fuel costs alone."
Over on COMEX, gold futures were also dropping by 0.28% to $1,205.2. The dollar advanced against the pound but declined against the yen and the euro.
Meanwhile in company news, oil and gas firms were declining as oil prices continue to tumble. Chevron decreased by 1.26% to 112.28 and Exxon fell by 0.61% to 94.37.
Visa receded by 0.18% to 261.14, while American Express rose by 0.64% to 91.83, Microsoft advanced by 1.58% to 48.84 and Walt Disney also increased by 0.13% to 93.23 after Thanksgiving weekend.
The US generic government 10 year yield was down five basis points to 2.23%.
S&P 500 - Risers
Avago Technologies Ltd. (AVGO) $103.07 +8.35%
Delta Airlines Inc. (DAL) $46.42 +3.73%
Kroger Co. (KR) $60.76 +3.58%
LyondellBasell Industries (LYB) $81.14 +3.07%
Tenet Healthcare Corp. (THC) $48.42 +2.69%
Graham Holdings Co. (GHC) $928.00 +2.25%
Raytheon Co. (RTN) $110.00 +2.19%
TripAdvisor Inc. (TRIP) $77.22 +1.97%
Chipotle Mexican Grill Inc. (CMG) $663.97 +1.95%
Eli Lilly and Company (LLY) $72.38 +1.76%
S&P 500 - Fallers
Range Resources Corp. (RRC) $60.55 -6.09%
Ensco Plc. (ESV) $31.46 -5.75%
Transocean Ltd. (RIG) $18.68 -4.55%
Diamond Offshore Drilling Inc. (DO) $30.08 -4.33%
Norfolk Southern Corp. (NSC) $107.30 -4.10%
Wynn Resorts Ltd. (WYNN) $162.92 -3.92%
Newfield Exploration Co (NFX) $26.18 -3.71%
Pioneer Natural Resources Co. (PXD) $145.53 -3.45%
Peabody Energy Corp. (BTU) $8.88 -3.37%
EQT Corp. (EQT) $87.10 -3.29%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $48.84 +1.58%
Procter & Gamble Co. (PG) $90.58 +0.64%
American Express Co. (AXP) $91.83 +0.64%
Merck & Co. Inc. (MRK) $60.92 +0.56%
Nike Inc. (NKE) $99.05 +0.56%
Goldman Sachs Group Inc. (GS) $191.95 +0.52%
Home Depot Inc. (HD) $98.95 +0.37%
United Technologies Corp. (UTX) $111.21 +0.20%
McDonald's Corp. (MCD) $95.66 +0.17%
E.I. du Pont de Nemours and Co. (DD) $72.37 +0.17%
Dow Jones I.A - Fallers
Chevron Corp. (CVX) $112.28 -1.26%
Unitedhealth Group Inc. (UNH) $99.67 -1.12%
General Electric Co. (GE) $26.09 -1.10%
Coca-Cola Co. (KO) $43.50 -0.68%
Cisco Systems Inc. (CSCO) $27.77 -0.64%
Exxon Mobil Corp. (XOM) $94.37 -0.61%
Caterpillar Inc. (CAT) $99.67 -0.51%
Boeing Co. (BA) $131.32 -0.49%
International Business Machines Corp. (IBM) $164.05 -0.29%
AT&T Inc. (T) $33.91 -0.26%
Nasdaq 100 - Risers
Avago Technologies Ltd. (AVGO) $103.07 +8.35%
TripAdvisor Inc. (TRIP) $77.22 +1.97%
Microsoft Corp. (MSFT) $48.84 +1.58%
Akamai Technologies Inc. (AKAM) $64.23 +1.57%
Whole Foods Market Inc. (WFM) $48.91 +1.49%
Mattel Inc. (MAT) $30.68 +1.35%
Activision Blizzard Inc. (ATVI) $21.77 +1.35%
Equinix Inc. (EQIX) $230.44 +1.13%
Google Inc. Class C (GOOG) $537.31 +1.13%
Expedia Inc. (EXPE) $89.55 +1.08%
Nasdaq 100 - Fallers
Vimpelcom Ltd Ads (VIP) $4.73 -6.34%
Wynn Resorts Ltd. (WYNN) $162.92 -3.92%
Discovery Communications Inc. Class A (DISCA) $34.43 -2.49%
Dish Network Corp. (DISH) $72.93 -2.00%
Biogen Idec Inc. (BIIB) $341.26 -1.75%
Cognizant Technology Solutions Corp. (CTSH) $53.52 -1.69%
CA Inc. (CA) $30.88 -1.58%
Intuitive Surgical Inc. (ISRG) $510.70 -1.53%
QUALCOMM Inc. (QCOM) $73.34 -1.38% |
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| | Newspaper Round Up | Friday newspaper round-up: Osborne, Real wage fall, FCA official to quit The new regulations announced by UK Chancellor George Osborne in the Autumn Statement have "increased the risk in the public finances" according to the Institute for Fiscal Studies. The establishment has warned that the UK will now face "colossal" cuts to child benefits and more in order to balance the books, The Telegraph has reported. The Guardian reports that British workers have suffered the biggest fall in real wages out of all the major G20 countries between 2010 and 2013. According to a report International Labour Organisation, British workers saw their real pay fall more than those working in all of the bailed-out Eurozone economies – Portugal, Spain and Ireland – apart from Greece. Clive Adamson, one of the most senior officials at the Financial Conduct Authority, is to step down as the FCA faces criticism for the way it handled an investigation into the insurance sector. According to The Times, the FCA head of supervision head of supervision is poised to quit just days before the regulator releases a report into events in March, which led to £6bn being wiped off the stock market value of insurance companies. The UK will have to spend nearly £1bn more than forecast if it intends to meet its foreign aid commitments this year and next, the Office for Budget Responsibility revealed in this week's forecasts. According to the figures, ministers have pledged 0.7% of the national income to international development, the Financial Times printed on Friday. Ridesharing group Uber has been valued at more than $40bn (£25.5bn) after its latest funding round, says the Guardian. The amount is more than double the $18.2bn the company was estimated to be worth in June, when it raised $1.2bn from investors including Fidelity Investments and BlackRock. | | |
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