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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 at three-week low as investors await data It was a weak start on the Footsie on Tuesday, with stocks at their lowest in three weeks ahead of a barrage of economic data.
The FTSE 100 was trading down 0.7% at 6,371 early on.
The index suffered a 2% sell-off on Monday, finishing at its lowest level since 17 December when it settled at 6,336.48, as concerns about a Greek exit from the Eurozone and another plunge in oil prices weighed on sentiment.
"With a slew of economic figures due this week traders will be cautious," said trader Rocky Muddar from TradeNext.
Oil was experiencing yet more selling pressure on Tuesday morning, with West Texas Intermediate (WTI) futures falling further below the $50-a-barrel (bbl) mark, a level not seen since April 2009.
WTI was down 1.1% at $49.47/bbl early on ahead of data from the Energy Information Administration on Wednesday, which is expected to show that US crude stockpiles increased last week, exacerbating a global supply glut which has hammered prices over the last few months.
After a relatively quiet start to the week in terms of data, the calendar looks pretty full for Tuesday's session, with service-sector data out in China, Japan, Europe, the UK and US. Factory orders in the States will also be closely watched.
Later in the week, investors will be looking out for Eurozone inflation data, a Bank of England rate decision and the US non-farm payrolls report.
Ashtead drops on United Rentals readacross
Equipment rental firm Ashtead dropped sharply early on, tracking declines seen in the share price of US peer United Rentals which was hit with a broker downgrade on Monday night. Evercore lowered its rating for United Rentals from 'buy' to 'sell', saying that the recent collapse in oil will affect energy investments and the construction market.
Oil and gas stocks were under pressure again as oil prices dropped, with Nostrum Oil & Gas, Tullow Oil and Ophir Energy falling sharply.
Mining stocks were edging higher, including Anglo American, Fresnillo, Rio Tinto and Randgold, after service-sector figures from China improved slightly. HSBC's China services purchasing managers' index for December rose from 53 to 53.4.
Defence, aerospace and energy manufacturing firm Senior rose after hiring Cobham's chief operating officer David Squires as its new chief executive officer, replacing Mark Rollins who is due to step down after 17 years with the group. |
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| Market Movers
techMARK 2,930.97 -0.37%
FTSE 100 6,371.33 -0.71%
FTSE 250 15,870.64 -0.32%
FTSE 100 - Risers
Fresnillo (FRES) 778.00p +1.24%
SSE (SSE) 1,603.00p +1.20%
Randgold Resources Ltd. (RRS) 4,590.00p +1.19%
Shire Plc (SHP) 4,534.00p +1.05%
Anglo American (AAL) 1,136.50p +0.89%
Rio Tinto (RIO) 2,899.50p +0.55%
Old Mutual (OML) 184.70p +0.43%
Standard Chartered (STAN) 950.10p +0.31%
Severn Trent (SVT) 1,993.00p +0.25%
Antofagasta (ANTO) 723.50p +0.21%
FTSE 100 - Fallers
Ashtead Group (AHT) 1,092.00p -7.61%
Aberdeen Asset Management (ADN) 414.20p -2.52%
Tullow Oil (TLW) 386.50p -2.50%
Sports Direct International (SPD) 699.50p -1.96%
Diageo (DGE) 1,788.00p -1.81%
Schroders (SDR) 2,587.00p -1.78%
Kingfisher (KGF) 322.40p -1.74%
Barclays (BARC) 230.80p -1.66%
CRH (CRH) 1,479.00p -1.60%
Hargreaves Lansdown (HL.) 968.50p -1.58%
FTSE 250 - Risers
Tate & Lyle (TATE) 617.50p +3.35%
Saga (SAGA) 151.90p +2.84%
Mitchells & Butlers (MAB) 386.90p +2.27%
Centamin (DI) (CEY) 61.85p +1.98%
Drax Group (DRX) 429.20p +1.83%
Bank of Georgia Holdings (BGEO) 2,198.00p +1.67%
Polymetal International (POLY) 569.50p +1.52%
Lonmin (LMI) 168.90p +1.38%
Hikma Pharmaceuticals (HIK) 2,158.00p +1.31%
Betfair Group (BET) 1,579.00p +1.02%
FTSE 250 - Fallers
Ophir Energy (OPHR) 133.50p -4.37%
Ocado Group (OCDO) 407.80p -2.90%
SSP Group (SSPG) 281.70p -2.83%
Nostrum Oil & Gas (NOG) 439.90p -2.68%
Premier Oil (PMO) 149.10p -2.61%
JD Sports Fashion (JD.) 494.10p -2.54%
Computacenter (CCC) 595.00p -2.38%
Hays (HAS) 144.10p -2.24%
Wetherspoon (J.D.) (JDW) 796.50p -1.97% |
| | UK Event Calendar | | INTERIM DIVIDEND PAYMENT DATE
Hill & Smith Holdings, London Stock Exchange Group, Management Consulting Group, Rolls-Royce Holdings, TR Property Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
ISM Services (US) (15:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
UK ECONOMIC ANNOUNCEMENTS
Official Reserves (09:30)
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
British Empire Securities & General Trust, Renewable Energy Generation Ltd., Town Centre Securities |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide as oil plunges, Eurozone service PMI revised lower European stocks slid as crude oil plunged to the lowest level in nearly six years and a report on Eurozone service sector activity was revised lower.
Brent crude has fallen below $53 per barrel for the first time since May 2009. It was sitting at $52.24 in morning trade.
Energy companies were the second biggest fallers on the 19 industry groups on the Stoxx 600.
In Europe, Markit's purchasing managers' index for service sector activity growth was revised down to 51.6 in December from a previous estimate of 51.9, surprising analysts who had expected it to remain unchanged. A reading above 50 signals expansion.
Fears over Greece exiting the euro have been also weighing on markets.
German Chancellor Angela Merkel is reportedly planning to accept a Greek euro exit ahead of the Mediterranean country's elections in three weeks.
"After years of political fighting and billions of euros in bailout money it could be that we are closer to a Greek exit than we have ever been as the greatest power in the Eurozone now see the exit of Greece from the Euro as a viable option for a sustainable and recovery Eurozone," according to James Hughes, chief market analyst at Alpari UK.
Greece's ASE Index dropped 5.6% on Monday, closing at its lowest level since November 2012.
Meanwhile, investors are also placing bets on whether the European Central Bank will introduce full-blown quantitative easing at the 22 January policy meeting to address low inflation. Eurozone inflation figures on Wednesday will therefore be closely watched. |
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| | US Market Report | | US close: Markets in decline as oil prices plummet even further US stocks were trading in the red on Monday ahead of a packed week for economic data.
The Dow Jones Industrials fell 1.86% to 17,501.65 while the S&P 500 dropped 1.83% to 2,020.58 and Nasdaq declined 1.64% to 4,160.96.
US construction spending fell 0.3% month-on-month in November, coming in below consensus expectations of a 0.4% rise for a moderate boost on the month.
Market analyst Jasper Lawler from CMC Markets said: "December auto sales were released on Monday. Fiat Chrysler saw sales jump 20%, GM 19% and Ford 1.2% as US consumers show enthusiasm for big-engine SUV's following the big drop in oil prices."
Barclays Research added: "US auto sales were reported at 16.9mn annualized units in December, according to Autodata, in line with our forecast (16.9m) and consensus expectations (16.9m)."
"Strong sales of big-ticket items reflect broad-based strength in consumer spending, which we view as driven by improving labor markets and lower gasoline prices."
Oil prices slid as WTI crude futures closed 5.634% down to $49.88 a barrel, while Brent futures slid 6.352% to $53.05 a barrel.
Over on COMEX, gold futures soared 1.48% to $1,203.80 while the dollar was prevailing against the pound and the euro while declining against the yen.
The yield on a benchmark US 10-year Treasury receded by eight basis points to 2.03%.
S&P 500 - Risers
Boston Scientific Corp. (BSX) $13.81 +4.46%
Zimmer Holdings Inc. (ZMH) $116.79 +3.73%
GameStop Corp. (GME) $34.72 +2.72%
Constellation Brands Inc. Class A (STZ) $99.82 +2.36%
Gilead Sciences Inc. (GILD) $96.79 +1.98%
PG & E Corp. (PCG) $54.24 +1.69%
Merck & Co. Inc. (MRK) $58.04 +1.49%
Graham Holdings Co. (GHC) $872.02 +1.29%
Health Care REIT Inc. (HCN) $77.90 +1.26%
Monster Beverage Corp (MNST) $109.43 +1.17%
S&P 500 - Fallers
Noble Energy Inc. (NBL) $42.39 -9.58%
Peabody Energy Corp. (BTU) $7.00 -9.56%
Diamond Offshore Drilling Inc. (DO) $33.99 -8.70%
Anadarko Petroleum Corp. (APC) $75.80 -7.89%
Denbury Resources Inc. (DNR) $7.30 -7.83%
Transocean Ltd. (RIG) $16.84 -7.06%
Noble Corporation plc (NE) $15.66 -7.01%
Pioneer Natural Resources Co. (PXD) $139.83 -6.71%
Cablevision Systems Corp. (CVC) $19.38 -6.65%
Ensco Plc. (ESV) $28.18 -6.60%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $58.04 +1.49%
Coca-Cola Co. (KO) $42.14 +0.00%
Dow Jones I.A - Fallers
Caterpillar Inc. (CAT) $87.03 -5.28%
Chevron Corp. (CVX) $108.08 -4.00%
Goldman Sachs Group Inc. (GS) $188.34 -3.12%
JP Morgan Chase & Co. (JPM) $60.55 -3.10%
Exxon Mobil Corp. (XOM) $90.29 -2.74%
E.I. du Pont de Nemours and Co. (DD) $71.72 -2.70%
American Express Co. (AXP) $90.56 -2.64%
3M Co. (MMM) $160.36 -2.26%
Visa Inc. (V) $259.17 -2.21%
Home Depot Inc. (HD) $101.26 -2.10%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $190.84 +2.92%
Gilead Sciences Inc. (GILD) $96.79 +1.98%
Monster Beverage Corp (MNST) $109.43 +1.17%
Regeneron Pharmaceuticals Inc. (REGN) $412.47 +0.56%
CA Inc. (CA) $30.78 +0.29%
Paychex Inc. (PAYX) $46.32 +0.17%
Sigma-Aldrich Corp. (SIAL) $137.45 +0.10%
Nasdaq 100 - Fallers
Vimpelcom Ltd Ads (VIP) $4.04 -5.61%
Netflix Inc. (NFLX) $331.18 -5.09%
Liberty Global plc Series A (LBTYA) $47.74 -4.72%
CH Robinson Worldwide Inc (CHRW) $70.60 -4.39%
Tesla Motors Inc (TSLA) $210.09 -4.20%
Discovery Communications Inc. Class A (DISCA) $33.06 -4.12%
Priceline Group Inc (PCLN) $1,097.58 -3.89%
Charter Communications Inc. (CHTR) $160.50 -3.56%
Vodafone Group Plc ADS (VOD) $32.83 -3.53% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Verizon-AOL, RBS, Tesco... Verizon Communications is in talks with AOL about a possible deal to take over the latter or set up a joint venture, The Telegraph said, citing reports. It is thought that Verizon wants to use AOL to expand its mobile video operations.
RBS' deputy chief executive Chris Sullivan has left the bank "several months earlier than expected", writes the Financial Times. The departure comes after his evidence to a parliamentary committee was critiscised by MPs.
Tesco's pension scheme, one of the last defined-benefit pension schemes in the private sector, is at risk because of the struggles facing the supermarket group, according to The Telegraph. The paper said that new boss Dave Lewis is considering closing the scheme to new members.
Bank Fashion has become the first high street casualty of 2015 after announcing that it has gone it into administration, reports The Scotsman. The move has put more than 1,500 jobs at risk after it was determined that a solvent turnaround would not be possible.
The National Association of Estate Agents has predicted that the gap between supply and demand for housing could widen further this year, writes The Times.
"A crackdown on corruption in China has hit sales of Rolls-Royce cars, taking the shine off otherwise record numbers from one of Britain's great export success stories," The Times writes.
"The number of first-time buyers climbing on to the property ladder rose by more than a fifth last year to a seven-year high," says The Guardian. According to a Halifax review, the number of first-time buyers rose 22% to 326,500 in 2014. | | |
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