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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: Stocks rebound after sell-off as earnings impress UK stocks advanced on Thursday morning but only partly clawed back losses after a heavy sell-off the previous session. The FTSE 100 was up 1.1% at 6,458 early on, with updates from blue chips Experian, Associated British Foods and Tullow Oil being well-received by the market.
The index had dropped 2.4% on Wednesday as copper prices fell to their lowest in almost six years on the World Bank's slashed growth forecasts for the global economy. Disappointing results from JPMorgan and worse-than-expected US retail sales were also weighing on sentiment.
"There was absolute carnage in the City yesterday as record lows for [some] stocks slammed the FTSE down to its worst day of the year," said trade Rocky Muddar from TradeNext.
Oil prices resumed their decline after rising by the most since June 2012 on Wednesday despite US government data showing that stockpiles increased more than expected last week.
West Texas Intermediate (WTI) crude was down 1.2% at $47.90 a barrel on Thursday morning. WTI jumped 5.6% on Wednesday on a day that options for the February contract expired, while prices were also boosted by a weaker US dollar.
Experian, ABF and Tullow rise
Third-quarter organic revenue was flat at information services group Experian, but shares rose strongly after the company hailed "good progress" during the period. Total revenue from continuing activities was down 1%, but at constant exchange rates grew by 2%.
Associated British Foods warned that full-year earnings would be hit by a large profit reduction at its sugar business and the strength of sterling. However, the stock was in demand after Primark, the main driver of growth at the retail and food ingredients group, recovered strongly after a slow autumn.
Tullow Oil was rising but had trimmed most of its early gains within the opening hour as investors digested a pre-close trading update that showed the company was taking billions of dollars-worth of write-offs and impairment charges and said profits more than halved last year due to the collapse in crude prices. The company also lowered its exploration budget for 2015.
Others in the oil and gas sector were also making gains such as BG Group and BP after Wednesday's rebound, albeit temporary, in crude prices.
Strong performances across its businesses in December saw real estate advisor Savills revise its full-year estimates upward, helping shares to jump early on. Underlying results are now expected to be "well ahead of our previous expectations",
A number of stocks were trading lower early on after going ex-dividend, including Next, Imperial Tobacco and Poundland. |
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| | Market Movers
techMARK 2,983.86 +0.83%
FTSE 100 6,457.99 +1.09%
FTSE 250 15,962.03 +0.57%
FTSE 100 - Risers
Experian (EXPN) 1,103.00p +3.57%
Whitbread (WTB) 4,831.00p +2.68%
Sports Direct International (SPD) 718.00p +2.57%
BHP Billiton (BLT) 1,317.50p +2.53%
BG Group (BG.) 813.00p +2.30%
Coca-Cola HBC AG (CDI) (CCH) 1,093.00p +2.25%
Associated British Foods (ABF) 3,101.00p +2.17%
Barclays (BARC) 228.30p +2.12%
Mondi (MNDI) 1,074.00p +2.09%
SABMiller (SAB) 3,367.50p +2.03%
FTSE 100 - Fallers
Imperial Tobacco Group (IMT) 2,852.00p -2.73%
Antofagasta (ANTO) 667.00p -1.19%
Fresnillo (FRES) 807.50p -1.04%
Next (NXT) 6,880.00p -0.51%
Randgold Resources Ltd. (RRS) 4,932.00p -0.36%
Dixons Carphone (DC.) 442.60p -0.32%
Compass Group (CPG) 1,102.00p -0.27%
BT Group (BT.A) 400.40p -0.25%
Kingfisher (KGF) 328.40p -0.24%
FTSE 250 - Risers
Savills (SVS) 708.50p +8.67%
Afren (AFR) 23.35p +7.41%
Polymetal International (POLY) 570.50p +5.75%
Cairn Energy (CNE) 169.60p +3.67%
Spirax-Sarco Engineering (SPX) 2,997.00p +3.34%
Rotork (ROR) 2,374.00p +3.26%
Jupiter Fund Management (JUP) 353.30p +3.12%
Halma (HLMA) 697.50p +3.10%
Premier Oil (PMO) 135.90p +2.95%
Aveva Group (AVV) 1,312.00p +2.90%
FTSE 250 - Fallers
Home Retail Group (HOME) 198.90p -6.18%
Spire Healthcare Group (SPI) 323.40p -4.83%
Bovis Homes Group (BVS) 794.00p -3.11%
Hikma Pharmaceuticals (HIK) 2,312.00p -2.32%
Kaz Minerals (KAZ) 166.60p -2.23%
Domino's Pizza Group (DOM) 679.50p -2.23%
IP Group (IPO) 222.40p -2.03%
Petra Diamonds Ltd.(DI) (PDL) 177.10p -1.83%
Booker Group (BOK) 159.70p -1.78% |
| | UK Event Calendar | | Thursday 15 January
INTERIM DIVIDEND PAYMENT DATE
Alliance Pharma, First Property Group, Octopus AIM VCT, Tarsus Group
INTERIM EX-DIVIDEND DATE
Ashtead Group, Consort Medical, Meikles Ltd., Poundland Group , QinetiQ Group, Redcentric, Scholium Group
QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, F&C Commercial Property Trust Ltd., Middlefield Canadian Income PCC
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Continuing Claims (US) (13:30)
Gross Domestic Product (GER) (07:00)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (15:00)
Producer Price Index (US) (13:30)
FINALS
Avesco Group
IMSS
Experian, Home Retail Group
DRILLING REPORT
Tullow Oil
SPECIAL EX-DIVIDEND PAYMENT DATE
Next
AGMS
ASOS, Baring Emerging Europe, Cambria Automobiles, Game Digital, Majedie Investments
TRADING ANNOUNCEMENTS
Bovis Homes Group, Tullow Oil
UK ECONOMIC ANNOUNCEMENTS
RICS Housing Market Survey (09:30)
FINAL DIVIDEND PAYMENT DATE
Northamber
FINAL EX-DIVIDEND DATE
Catco Reinsurance Opportunities Fund Ltd (DI), Dewhurst, Dunedin Smaller Companies Inv Trust, Imperial Tobacco Group, Octopus VCT 3, Octopus VCT 4, Spirit Pub Company, Unicorn AIM VCT |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise amid stimulus hopes ahead of ECB meeting European stocks advanced amid speculation that the region's central bank will widen an asset-purchase programme when it meets next week. The European Court of Justice's advocate general, Pedro Cruz Villalon, on Wednesday said the European Central Bank (ECB) can legally buy large quantities of Eurozone government debt to stabilise the economy and address deflation.
The advice - which comes in response to a lawsuit by German opponents of loose monetary policy claiming that the ECB's Outright Monetary Transactions programme violates the EU treaty - moves the ECB closer to further stimulus measures.
The ECB has been facing calls to introduce full-on quantitative easing ahead of its 22 January policy meeting after a preliminary estimate showed the Eurozone entered deflation. Eurostat releases the final report on consumer prices on Friday.
On Thursday's agenda, it will be a quiet day of data apart from reports on German gross domestic product and US initial jobless claims.
On the company front, Beiersdorf AG rallied after the German maker of Nivea products reported full-year sales that beat analysts' estimates.
Cie. Financiere Richemont slumped as the maker of Cartier jewellery reported flat third-quarter revenue as protests in Hong Kong disrupted sales.
Associated British Foods gained after posting an increase in revenue over the holiday season, boosted by its Primark division.
Energy companies rebounded on the Stoxx 600 despite a continued drop in oil prices.
Brent crude dropped 2.5% to $47.49 per barrel, according to the ICE. |
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| | US Market Report | | US close: Markets in decline following lower than hoped for retail sales US stocks receded on Wednesday after oil US retail sales came in unexpectedly low month-on-month for December, missing consensus expectations by 0.8%. The Dow Jones Industrial Average fell 1.06% to 17,427.09 while Nasdaq dropped 0.49% to 4,145.84 and S&P 500 slid 0.58% to 2,011.27.
IG analyst Chris Beauchamp said: "The retail sales number was particularly worrying, given that it severely damages the theory that lower oil prices are good for consumer spending."
CMC Markets analyst Jasper Lawler added: "Retail sales in the US appear to be being driven more by falling wages rather than the drop in petrol prices."
Oil prices were making some gains with WTI up 5.6% at $48.59 a barrel and Brent rising 4.4% to $48.72 a barrel.
Beauchamp continued: "Given weakness of demand in China it looks eerily like the fundamentals that have caused such havoc in oil are at work in copper too, which bodes ill for the metal and mining companies generally."
"Meanwhile gold got a further lift from the weaker US dollar and safe-haven buying, as it continues its break out from the 26-month downtrend that began earlier this week."
Over on COMEX, gold futures decreased 0.35% to $1,230.10 while the dollar fell against the pound, the yen and the euro.
The yield on a benchmark US 10-year Treasury closed on a dip of five basis points at 1.85%.
ZIOPHARM Oncology closed on a rise of 54.53% to $8.87 while Tesla Motors fell 5.66% to $192.69.
S&P 500 - Risers
GameStop Corp. (GME) $36.21 +10.50%
Newfield Exploration Co (NFX) $24.19 +5.63%
ONEOK Inc. (OKE) $42.32 +5.20%
Chesapeake Energy Corp. (CHK) $18.76 +5.10%
Mohawk Inds Inc. (MHK) $167.05 +4.33%
Monster Beverage Corp (MNST) $117.74 +4.09%
Eog Resources Inc. (EOG) $87.74 +3.15%
Pioneer Natural Resources Co. (PXD) $142.23 +3.15%
St Jude Medical Inc. (STJ) $67.56 +2.69%
Intuitive Surgical Inc. (ISRG) $535.36 +2.63%
S&P 500 - Fallers
Freeport-McMoRan Inc (FCX) $18.74 -10.93%
Viacom Inc. Class B (VIAB) $67.80 -6.65%
Alcoa Inc. (AA) $14.95 -5.38%
Allegheny Technologies Inc. (ATI) $28.52 -5.31%
Southwestern Energy Co. (SWN) $23.02 -4.60%
Genworth Financial Inc. (GNW) $7.31 -4.19%
Marathon Petroleum Corporation (MPC) $77.63 -3.99%
Discovery Communications Inc. Class A (DISCA) $30.00 -3.88%
Altera Corp. (ALTR) $34.18 -3.77%
JP Morgan Chase & Co. (JPM) $56.81 -3.45%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $62.64 +0.72%
Unitedhealth Group Inc. (UNH) $103.33 +0.25%
Pfizer Inc. (PFE) $32.48 +0.12%
Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $56.81 -3.45%
Wal-Mart Stores Inc. (WMT) $86.61 -3.02%
Goldman Sachs Group Inc. (GS) $180.23 -2.54%
American Express Co. (AXP) $87.07 -2.42%
Visa Inc. (V) $255.56 -2.00%
Travelers Company Inc. (TRV) $103.77 -1.51%
McDonald's Corp. (MCD) $91.54 -1.39%
Nike Inc. (NKE) $93.71 -1.37%
Home Depot Inc. (HD) $102.64 -1.05%
Walt Disney Co. (DIS) $94.23 -1.01%
Nasdaq 100 - Risers
Monster Beverage Corp (MNST) $117.74 +4.09%
Intuitive Surgical Inc. (ISRG) $535.36 +2.63%
Gilead Sciences Inc. (GILD) $99.26 +2.11%
Staples Inc. (SPLS) $17.33 +2.06%
Activision Blizzard Inc. (ATVI) $18.93 +1.99%
Nxp Semiconductors Nv (NXPI) $80.07 +1.05%
Linear Technology Corp. (LLTC) $45.62 +1.00%
Google Inc. Class C (GOOG) $500.87 +0.95%
Celgene Corp. (CELG) $121.06 +0.90%
Google Inc. (GOOGL) $505.93 +0.82%
Nasdaq 100 - Fallers
Viacom Inc. Class B (VIAB) $67.80 -6.65%
Tesla Motors Inc (TSLA) $192.69 -5.66%
Discovery Communications Inc. Class A (DISCA) $30.00 -3.88%
Charter Communications Inc. (CHTR) $158.13 -3.81%
Altera Corp. (ALTR) $34.18 -3.77%
Micron Technology Inc. (MU) $30.05 -2.55%
TripAdvisor Inc. (TRIP) $69.73 -2.43%
F5 Networks Inc. (FFIV) $125.60 -2.39%
Ross Stores Inc. (ROST) $92.63 -2.35% |
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| | Newspaper Round Up | | Thursday newspaper round-up: RBS, BlackBerry, North Sea oil... RBS has admitted to mis-selling taxpayer-backed loans to small business, according to The Times. "An internal investigation at the lender has revealed serious failings in the way in which it used the Enterprise Finance Guarantee, a government scheme designed to boost lending to smaller companies," the paper said. The Telegraph says that Samsung has approached smartphone maker BlackBerry about a possible takeover worth $7.5bn, causing shares in the Canadian group to soar on Wednesday. The rumours, first cited by Reuters, suggest Samsung proposed an offer of $13.35-15.49 a share, a 38-60% premium on BlackBerry's current share price, at a meeting last week.
Oil industry consultancy Wood Mackenzie has warned that oilfields in the North Sea could be shut down if the oil prices falls any further, writes The Guardian. The collapse in Brent, currently at around $46 a barrel, means that some UK production is already failing to break even, it said.
German bank Deutsche Bank is looking at the possible sale of its retail banking operations, reports the Financial Times.
Mark Carney, the Bank of England governor, has said that the falling oil price represents a "negative shock" for Scotland, but the impact is "substantially mitigated" by its position within the UK, writes The Telegraph. | | |
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