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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 rise ahead of busy week with ECB in focus UK stocks rose on Monday morning ahead of a busy week, as investors shrugged off a sell-off on Chinese markets overnight.
London's FTSE 100 was up 0.4% at 6,577 in early deals.
Stocks in Shanghai plunged 8% on Monday with shares in the financial sectors faring the worst after securities regulators said many brokerage firms had broken stricter rules on margin trading. A number of brokers, including Citic Securities and Hating Securities, were banned from opening new customer accounts for three months because of the violations.
Margin finance involves the borrowing of money to buy stocks, something which the government is concerned will lead to instability. Record margin lending has resulted in a 63% surge in equity values over the past six months.
Despite the sell-off in China, European markets experienced a positive start to a busy week full of economic data, though the European Central Bank (ECB) meeting on Thursday will undoubtedly garner the most attention.
In response to the Eurozone falling into deflation last month, the ECB is widely expected to implement full-blown quantitative easing (QE) with the purchase of government bonds.
Analysts at Deutsche Bank said the ECB meeting could be "monumental": "The big debate in the market as the decision nears will probably be based around whether it would be more positive to see a bigger size of QE announced but with each member central bank technically responsible for the losses or a smaller size where any future losses were fully mutualised."
Elsewhere, there will be a barrage of economic data from China over the coming days, including growth estimates for the fourth quarter, UK employment figures and the Bank of England minutes, and manufacturing surveys in the Eurozone.
Monday's agenda is thin on the ground of economic data with the US markets closed for Martin Luther King Jr. Day.
Greene King gives mixed update, Balfour wins contract
Pub operator and brewer Greene King was flat after saying that while sales over the key Christmas period was "encouraging", trading before and after the festive season was mixed. Chief executive Rooney Anand said: "Outside of those [Christmas] weeks, trading was more volatile, with the weeks before Christmas slightly down on the previous year and soft trading since the New Year."
Infrastructure firm Balfour Beatty rose after having been appointed sole contractor to a new £1.5bn framework that will run until February 2019. The national framework is operated by public sector-owned environment specialist Scape Group.
Steel-maker Evraz edged lower after saying its production of steel products rose by 6% in the last three months of 2014, driven by higher exports of export billets and slabs. However, for all of fiscal year 2014 consolidated steel production and output of steel products, net of rolled volumes, decreased by 4% and 5%, respectively.
Mining stocks on the whole were in the red, with heavyweights Rio Tinto, Anglo American and BHP Billiton falling slightly.
Takeover target Afren was weaker as investors nervously awaited a deadline for Nigerian group Seplat to return to the table with a possible offer. The latter approached the FTSE 250 oil group last month about a potential tie-up and has until 17:00 on Monday to 'put up or shut up', according to takeover rules. |
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| | Market Movers
techMARK 3,015.80 +0.69%
FTSE 100 6,577.24 +0.41%
FTSE 250 16,006.30 +0.53%
FTSE 100 - Risers
Tesco (TSCO) 225.55p +2.97%
Aggreko (AGK) 1,575.00p +2.27%
Travis Perkins (TPK) 1,823.00p +2.19%
Dixons Carphone (DC.) 436.00p +1.99%
Coca-Cola HBC AG (CDI) (CCH) 1,096.00p +1.76%
Babcock International Group (BAB) 1,025.00p +1.69%
Vodafone Group (VOD) 231.15p +1.47%
GKN (GKN) 361.10p +1.46%
BT Group (BT.A) 414.90p +1.42%
CRH (CRH) 1,528.00p +1.33%
FTSE 100 - Fallers
Rio Tinto (RIO) 2,855.50p -1.14%
BP (BP.) 410.50p -0.69%
Anglo American (AAL) 1,092.00p -0.68%
BHP Billiton (BLT) 1,379.50p -0.61%
Ashtead Group (AHT) 1,040.00p -0.48%
BG Group (BG.) 848.90p -0.42%
Weir Group (WEIR) 1,680.00p -0.41%
British American Tobacco (BATS) 3,569.50p -0.40%
Intertek Group (ITRK) 2,342.00p -0.38%
Randgold Resources Ltd. (RRS) 5,370.00p -0.37%
FTSE 250 - Risers
Bwin party Digital Entertainment (BPTY) 108.80p +3.62%
Hikma Pharmaceuticals (HIK) 2,268.00p +2.49%
Ophir Energy (OPHR) 128.60p +2.47%
Hays (HAS) 148.00p +2.42%
Interserve (IRV) 518.50p +2.17%
Playtech (PTEC) 664.50p +2.15%
Diploma (DPLM) 759.00p +2.15%
Premier Oil (PMO) 143.50p +2.06%
Lonmin (LMI) 175.60p +2.03%
esure Group (ESUR) 227.50p +2.02%
FTSE 250 - Fallers
Fidelity China Special Situations (FCSS) 133.00p -5.27%
Afren (AFR) 28.37p -4.48%
Synthomer (SYNT) 230.20p -4.08%
Vedanta Resources (VED) 391.50p -3.43%
COLT Group SA (COLT) 127.30p -2.00%
Jimmy Choo (CHOO) 170.60p -1.16%
Redefine International (RDI) 54.50p -0.91%
Card Factory (CARD) 277.20p -0.82%
Galliford Try (GFRD) 1,210.00p -0.82% |
| | UK Event Calendar | | Monday 19 January
INTERIMS
Conviviality Retail
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Current Account (EU) (09:00)
EGMS
B.S.D Crown Ltd (DI), Bluecrest Bluetrend Ltd Red GBP, JSC Kazkommertsbank GDR (Reg S), OJSC Megafon GDR (Reg S)
TRADING ANNOUNCEMENTS
Greene King, Thorntons
FINAL DIVIDEND PAYMENT DATE
Gama Aviation
FINAL EX-DIVIDEND DATE
Barloworld Ltd.
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed as ECB policy meeting looms Stocks in the Eurozone were mixed as the rumour mill on quantitative easing (QE) ramped up before the European Central Bank's (ECB) policy meeting.
The ECB is expected to introduce full-on QE when it meets on Thursday to revive the weak economy and tackle deflation.
ECB President Mario Draghi met with German Chancellor Angela Merkel last week, according to a government spokesman. According to German magazine Der Spiegel, Draghi outlined his plans for QE during the meeting.
Ahead of the ECB's policy decision, Monday's agenda is thin on the ground of economic data with the US markets closed for Martin Luther King Jr. Day.
Meanwhile, Chinese shares retreated after regulators took steps to rein in speculative lending. Beijing cracked down on credit products that have been blamed for fuelling excessive market speculation over the past three months.
On the company front, Schindler Holdings rallied after raising its profit estimate for 2014.
A gauge of energy stocks fell, led by Royal Dutch Shell, Total SA and Eni SpA. While OPEC is increasing its output, the market is speculating that supply from outside the group will slow.
Brent crude fell 1.25% to $49.55 per barrel, according to the ICE.
Telefonica SA gained following reports Hutchison Whampoa is considering a purchase of the Spanish company's wireless unit O2 in the UK. |
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| | US Market Report | | US close: Markets boosted by consumer confidence and rising oil prices US stocks advanced on Friday after positive consumer confidence data and gains in the energy sector trumped the surprise announcement from the Swiss National Bank that it had moved to end its three-year old policy of intervening in foreign exchange markets.
The Dow Jones Industrial Average rose 1.1% to 17,511.57 while Nasdaq advanced 1.39% to 4,634.38 and S&P 500 gained 1.34% to 2,019.42.
The latest reading on the University of Michigan's consumer confidence index came in at 98.2 for January, compared to a consensus expectation of 94.1. The improvement was attributed to the recent solid improvement in the jobs market and the continued slide in oil prices, which increased consumers' spending power across the US.
IG analyst Chris Beauchamp said: "The good implications this has for consumer spending (despite that abysmal retail sales number earlier in the week) were reinforced by an 11-year high in consumer confidence figures. At least therefore there is some good news for US indices, which have had a particular poor start to the year."
Barclays Research added: "We read this month's preliminary report as reflecting broad-based strength in the consumer sector, which should help consumer spending remain strong into Q1."
Oil prices were making gains during the day with WTI up 4.8% to $48.60 a barrel and Brent up 3.3% to $49.94 a barrel.
CMC Markets analyst Jasper Lawler said: "US markets reacted with positivity to the rise in oil prices on Friday as Intel and Goldman Sachs reported better than expected earnings helping lift sentiment following disappointing earnings from other major banks earlier in the week."
Over on COMEX, gold futures increased 0.86% to $1,275.70 while the dollar rose against the pound, the yen, and the euro.
The yield on a benchmark US 10-year Treasury rose by eleven basis points to 1.83%. |
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| | Newspaper Round Up | | Monday newspaper round-up: John Laing, North-South divide, UK incomes... John Laing is preparing to announce a flotation on the London Stock Exchange today as the infrastructure investment group becomes the latest business to take the plunge and be listed before the general election in May, said The Times. The initial public offering, which is expected to include a retail offer through intermediaries, is set to value John Laing at between £700m and £1bn.
According to The Independent, the North-South divide in England has widened significantly in the past decade, with southern English cities driving the economic recovery while many in the North lose jobs and stagnate. Citing a report, the newspaper wrote that for every 12 new private sector jobs created in cities in the South over the past 10 years, one private sector job has disappeared in the rest of Britain.
The Guardian has said that nearly four out of 10 households with children, or 8.1 million people, live below an income level regarded by the public as the minimum needed to participate in society, according to new research commissioned by the Joseph Rowntree Foundation. The number of those on less than the so-called minimum income threshold in 2012/13 was up by more than a third from 5.9 million in 2008/09, the charity says.
Julius Baer Group AG told the Wall Street Journal Monday it didn't suffer losses following the Swiss central bank's decision to abandon a cap on the franc last week, as the private bank moved to ease concerns about foreign exchange volatility on its performance.
Liberal Democrat leader Nick Clegg said yesterday his party would raise taxes for high earners, if it won power in the general election, wrote the City A.M. The deputy prime minister told BBC's Andrew Marr Show: "[Lib Dem plans to cut the deficit would involve] a mixture of the following components: clamping down on tax evasion and tax avoidance, significant additional savings in Whitehall. There will need to be some additional savings but not nearly on the totally implausible scale that the Conservatives have said in the welfare budget and then there will need to be some tax increases as well which fall on the wealthiest in society."
As many as 80 people, including 50 children, were kidnapped in Cameroon by Boko Haram yesterday in the largest abduction in the country since the terrorist group ventured over the Nigerian border last year, according to The Times.
The Telegraph wrote that inertia has hit the UK housing market as sellers await the outcome of the general election and stricter mortgage regulation suppresses buyer demand, according to property website Rightmove. The number of homes registered for sale per estate agent fell to its lowest level for five years in December, with available stock 10% lower than in the same month a year earlier. | | |
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