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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 rise ahead of FOMC meeting Strong results from US blue chips Apple and Yahoo after the closing bell on Wall Street led to a higher open in London on Wednesday, as investors took an optimistic approach ahead of the Federal Reserve meeting. The FTSE 100 was up 0.2% at 6,827 in early deals.
US markets finished with sharp losses on Tuesday after a barrage of disappointing corporate earnings and economic data, including figures which showed a 3.4% drop in durable goods orders.
However, Apple's shares jumped after the close after the smartphone and tablet group reported a massive 30% year-on-year increase in quarterly sales to $74.6bn. It also posted a record quarterly net profit of $18bn.
Meanwhile, results from Yahoo were also welcomed by investors in after-hours trade, along with the announcement that it will spin-off its $40bn stake in Chinese ecommerce firm Alibaba.
As for Wednesday's session, with little economic data on tap the focus will be on the outcome of the Federal Open Market Committee (FOMC) meeting at 19:00 with investors waiting for hints about when the US central bank will begin to hike interest rates.
With no press conference scheduled and no new projections expected, analysts at Danske Bank said the "focus will be on the tone of the statement".
"We expect only small changes to the statement and most importantly we expect it to repeat that the FOMC can 'be patient in beginning to normalise the stance of monetary policy'," they said.
Experian, Anglo and ARM rise
Credit-checking firm Experian was a high riser ahead of an investor seminar on Wednesday, at which it is expected to outline strategic and capital framework plans to "deliver annual average growth in organic revenue in the mid-single digit range". The company also said it has the potential for "strong growth" in earnings per share.
Mining giant Anglo American impressed by meeting forecasts with its fourth-quarter output results with improvements in iron ore, coal and platinum and declines in copper, nickel and diamonds. However, sectors peers Fresnillo and Antofagasta were both lower after production updates.
Chip designer ARM Holdings was in positive territory after better-than-expected results from customer Apple showed strong demand for smartphones.
Third-quarter sales rose at Johnson Matthey but shares slumped after the chemicals group's underlying profits growth slowed due to continuing issues with Anglo American Platinum. The FTSE 100 group, which said full-year targets remained in line with expectations, said the £10m of losses in commission income from Anglo American Platinum prevented underlying profit before tax from growing at double-digit rates.
Business management software group Sage underwhelmed after saying it made a "solid start" to the new financial year and remains on track to hit its growth targets.
Severn Trent fell after saying it has cut its dividend for next financial year after accepting the final determination from the water industry regulator, but plans a £100m share buy-back programme to reduce its gearing ratio.
On the FTSE 250, oil producer Afren rebounded after a sharp plunge in its share price the previous session on the back of funding concerns. |
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| | techMARK 3,075.75 +0.41%
FTSE 100 6,827.32 +0.23%
FTSE 250 16,417.22 +0.39%
FTSE 100 - Risers
Experian (EXPN) 1,205.00p +3.43%
Weir Group (WEIR) 1,676.00p +2.20%
ARM Holdings (ARM) 1,052.00p +2.04%
Anglo American (AAL) 1,111.00p +1.93%
Mondi (MNDI) 1,195.00p +1.79%
SABMiller (SAB) 3,492.00p +1.63%
GKN (GKN) 373.50p +1.22%
Coca-Cola HBC AG (CDI) (CCH) 1,085.00p +1.02%
Severn Trent (SVT) 2,172.00p +0.98%
Capita (CPI) 1,103.00p +0.91%
FTSE 100 - Fallers
Johnson Matthey (JMAT) 3,308.00p -5.40%
Antofagasta (ANTO) 671.50p -3.17%
Morrison (Wm) Supermarkets (MRW) 193.30p -2.62%
InterContinental Hotels Group (IHG) 2,670.00p -1.98%
Sage Group (SGE) 475.60p -1.74%
Tullow Oil (TLW) 364.80p -1.43%
Standard Chartered (STAN) 931.20p -1.11%
Royal Mail (RMG) 435.40p -1.09%
Fresnillo (FRES) 900.50p -1.04%
Randgold Resources Ltd. (RRS) 5,545.00p -0.89%
FTSE 250 - Risers
Afren (AFR) 7.00p +40.00%
Serco Group (SRP) 161.70p +3.45%
Petrofac Ltd. (PFC) 713.00p +3.33%
Cranswick (CWK) 1,400.00p +3.17%
Intermediate Capital Group (ICP) 495.00p +2.91%
Fisher (James) & Sons (FSJ) 1,175.00p +2.89%
Poundland Group (PLND) 348.60p +2.50%
Barr (A.G.) (BAG) 645.00p +2.38%
Crest Nicholson Holdings (CRST) 388.50p +2.32%
Just Retirement Group (JRG) 138.70p +2.06%
FTSE 250 - Fallers
Zoopla Property Group (WI) (ZPLA) 182.60p -3.89%
Jimmy Choo (CHOO) 175.00p -2.23%
Rightmove (RMV) 2,392.00p -2.09%
Beazley (BEZ) 285.10p -1.69%
Vedanta Resources (VED) 405.70p -1.24%
Booker Group (BOK) 157.20p -1.19%
PZ Cussons (PZC) 313.80p -1.01%
Carillion (CLLN) 338.10p -0.88%
Northgate (NTG) 607.00p -0.82% |
| | UK Event Calendar | | Wednesday 28 January
INTERIMS
Ebiquity
INTERIM DIVIDEND PAYMENT DATE
Hibernia Reit
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
Crude Oil Inventories (US) (15:30)
FOMC Interest Rate (US) (19:00)
GFK Consumer Confidence (GER) (07:00)
MBA Mortgage Applications (US) (12:00)
FINALS
Staffline Group
IMSS
Intermediate Capital Group
AGMS
Alternative Networks, Artemis VCT, Imperial Tobacco Group, JPMorgan Asian Inv Trust, Renew Holdings, Schroder Asia Pacific Fund, Standard Life European Private Equity Trust
TRADING ANNOUNCEMENTS
Barr (A.G.)
FINAL DIVIDEND PAYMENT DATE
Diploma, Hargreave Hale AIM VCT 1 |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed as German consumer confidence improves European stocks were little changed as a report showed German consumer confidence rose more than expected in February.
GfK's forward-looking sentiment index for Europe's biggest economy increased to 9.3 from 9 in January.
"German consumers, just like most around the world, are receiving a massive boost to real spending power from cheap oil. As a result, consumer confidence is climbing to new highs," said Berenberg analyst Christian Schulz.
"We expect German households' consumption to remain a pillar of growth in Germany and the Eurozone in 2015."
In the US, the Federal Open Market Committee releases its policy statement after European markets close. The US central bank is expected to keep interest rates at 0.25% and reiterate plans for an increase mid-2015. The Fed has maintained the benchmark rate near zero since the 2008 financial crisis.
On the company front, Nordea advanced after raising its 2014 dividend by 44% and reporting a rise in quarterly net income.
Electrolux gained after Europe's biggest appliances maker posted a 20% gain in fourth-quarter operating profit.
The euro fell 0.35% to $1.1341. |
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| | US Market Report | | US close: Stocks sink amid poor durable goods data and disappointing earnings US stocks sank on Tuesday, suffering their biggest in drop in three weeks, after disappointing data on durable goods led to speculations that economic growth was slowing down.
The Dow Jones Industrial Average closed points down at, while the S&P lost points closing at and the Nasdaq dropped to points.
Orders for durable US good declined 3.4% in December, registering the fourth decline in the past five months and falling well below the expected 0.1% decline.
According to figures released by the Commerce Department on Tuesday, durable goods orders for November were revised to show a 2.1% drop instead of a 0.9% drop.
Meanwhile, US house prices rebounded by 0.2% in November, to lower the year-over-year gain to 4.3%, according to the S&P/Case-Shiller 20-city composite. The report released on Tuesday, showed that on a seasonally adjusted basis home prices advanced 0.7%.
The consumer confidence index soared in January to a seven-year high of 102.9, while new-home sales rose 11.6% in December.
"The surge in the conference board measure of consumer confidence to a seven-year high in January suggests that consumers started the year in a buoyant mood and that the decline in retail sales in December was nothing more than a blip," analysts at CMC Markets said in a note.
In corporate news, Microsoft endured its worst day since July 2013, falling 9.37%, after JP Morgan cut the company to neutral from overweight. The tech giant's commercial sales fell below expectations late on Monday.
"Microsoft had already set the stage for disappointment overnight after it offered a weaker outlook for its software business," said CMC Markets analyst Jasper Lawler.
"It beat earnings estimates and announced a share buyback scheme of $30bn which is larger than previous years although perhaps not quite as aggressive as some had called for."
American Airlines Group fell 5.07% after reporting fourth quarter earnings that beat analysts' expectations but reported its revenue per available seat mile, an important aviation industry gauge, fell 1%.
Peabody Energy slid 6.45% after it cut its quarterly dividend and said it forecast a severe first quarter loss after posting a fourth quarter loss of $514.6m, while Procter & Gamble fell almost 3.45% after disappointing results.
Caterpillar lost 7.18% after announcing a disappointing outlook for 2015 and reporting lower-than-expected earnings.
Texas Instruments fell 0.15% despite reporting better-than-expected fourth quarter earnings on Monday night, while United Technologies 0.35% advanced after its fourth quarter earnings rose from $1.45bn to $1.47bn.
Gold futures advanced by over 1% to $1,293.90, while the dollar fell over 0.7% against the pound, by 0.6% against the yen and by over 1.2% over against the euro.
Oil prices rebounded strongly, with Brent crude and West Texas intermediate gaining over 2% to settle at $49.2 a barrel, while West Texas Intermediate rose almost 1.8% to end the day just under $46 a barrel.
S&P 500 - Risers
Diamond Offshore Drilling Inc. (DO) $34.28 +4.48%
Nabors Industries Ltd. (NBR) $11.88 +4.12%
Corning Inc. (GLW) $24.73 +3.43%
Transocean Ltd. (RIG) $16.98 +2.97%
ProLogis (PLD) $47.13 +2.79%
Waters Corp. (WAT) $119.35 +2.79%
Newmont Mining Corp. (NEM) $25.14 +2.65%
Denbury Resources Inc. (DNR) $7.14 +2.59%
TE Connectivity Ltd (TEL) $64.63 +2.33%
Noble Corporation plc (NE) $17.20 +2.20%
S&P 500 - Fallers
Microsoft Corp. (MSFT) $42.66 -9.25%
Caterpillar Inc. (CAT) $79.85 -7.18%
Peabody Energy Corp. (BTU) $6.24 -6.45%
Freeport-McMoRan Inc (FCX) $18.38 -6.03%
Joy Global Inc. (JOY) $41.29 -5.32%
Nvidia Corp. (NVDA) $19.63 -4.78%
Intel Corp. (INTC) $34.19 -4.51%
Micron Technology Inc. (MU) $29.65 -4.42%
Cisco Systems Inc. (CSCO) $26.90 -3.83%
Hewlett-Packard Co. (HPQ) $37.36 -3.81%
Dow Jones I.A - Risers
United Technologies Corp. (UTX) $119.16 +0.35%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $42.66 -9.25%
Caterpillar Inc. (CAT) $79.85 -7.18%
Intel Corp. (INTC) $34.19 -4.51%
Cisco Systems Inc. (CSCO) $26.90 -3.83%
Procter & Gamble Co. (PG) $86.49 -3.45%
Goldman Sachs Group Inc. (GS) $176.49 -2.18%
Visa Inc. (V) $250.99 -2.16%
Nike Inc. (NKE) $94.50 -1.92%
International Business Machines Corp. (IBM) $153.67 -1.72%
Unitedhealth Group Inc. (UNH) $110.01 -1.43%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $454.17 +1.70%
Dollar Tree Inc (DLTR) $71.32 +1.36%
Xilinx Inc. (XLNX) $39.44 +1.17%
Illumina Inc. (ILMN) $203.25 +0.78%
Sba Communications Corp. (SBAC) $120.04 +0.76%
Starbucks Corp. (SBUX) $88.34 +0.25%
Staples Inc. (SPLS) $16.91 +0.24%
Nasdaq 100 - Fallers
Microsoft Corp. (MSFT) $42.66 -9.25%
Vimpelcom Ltd Ads (VIP) $3.61 -5.00%
Nvidia Corp. (NVDA) $19.63 -4.78%
Intel Corp. (INTC) $34.19 -4.51%
Micron Technology Inc. (MU) $29.65 -4.42%
Cisco Systems Inc. (CSCO) $26.90 -3.83%
Autodesk Inc. (ADSK) $56.15 -3.57%
Apple Inc. (AAPL) $109.13 -3.51%
Seagate Technology Plc (STX) $57.06 -3.38% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: NHS, Ed Miliband, Ebola... A drug worth £10m per patient will soon be available on the NHS after gaining approval, said The Times. The drug is called Eculizumab and will provide life-saving treatment for around 200 people a year with a rare kidney condition. The paper claimed that the drug will cost the NHS upwards of £82m each year.
Ed Miliband could cost his party this year's election, according to a former Labour cabinet minister. Miliband has promised to protect the NHS in a "pale imitation" of Neil Kinnock's failed 1992 campaign that will prove a "fatal mistake", the former health secretary Alan Milburn argued in The Times.
The Times wrote on Wednesday that a massive injection of foreign aid is needed by the three west African nations that have been ravaged by ebola, according to Oxfam. More than 8,000 people were killed during the outbreak, said the paper, and most of the victims were in Guinea, Liberia and Sierra Leone. The World Bank also noted that £1bn has already been drained from those nations' economies.
An underhand political group led by billionaire pro-Republican brothers Charles and David Koch will spend $889m during next year's presidential election, according to The Times. The duo will raise the money from a pool of donors, the paper added, that share the Koch brothers' political inclinations. They have frowned upon healthcare reforms, minimum wage and various other government regulatory changes in the past.
An independent bicycle store in north London has been put up for auction on eBay at a starting price of 99p, wrote The Evening Standard. Holloway Cycles has been owned by the same people for seven years who have been forced to close the shop after a sale fell through.
A 12-month-long bidding war over a £3.4bn property has been launched to transform London's network of vacant underground stations into tourist hot-spots, penthouse apartments and new housing, according to The Telegraph. The move should cater to a growing population and boost the city's economy.
Analysts have now claimed that the conflict in Syria and Iraq have overtaken the 1980s Soviet war in Afghanistan as the biggest jihad in modern times. They also said that the jihadist movement is splitting, according to The Times. More than 20,000 foreign fights have moved to the region, more than during any other war in a Muslim country since 1945. | | |
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