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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 bounce back despite oil price slide UK stocks staged an early bounce, following the losses sustained over the previous sessions, as traders waited on potentially market-moving data on Eurozone inflation and kept a wary eye trained on the continuing slide in oil prices. As of 09:12 the Footsie was higher by 37 points to 6,403.89, buoyed by better-than-expected quarterly sales figures from grocer Sainsbury. Those numbers set of a flurry of buying across the sector. A preliminary reading on the Eurozone’s consumer price index, due out at 10:00, was expected to show the single currency area on the brink of deflation, at a 0.0% year-on-year rate of change. The index suffered a near 0.8% fall in the previous session, following an already weak start to the week and the New Year over previous sessions. Overnight, the Dow Jones Industrial Average fell 0.74% to 17,372 while the Nasdaq-100 dropped 1.2% to 4,110.83 and the S&P 500 retreated 0.89% to 2,002.61. As of 09:12 front month Brent crude futures were losing another 2.3% to reach $49.94 per barrel, breaking below $50 for the first time in five and a half years, while West Texas intermediate crude futures closed 4.272% lower at $47.99 a barrel. “The oil price is the only thing that investors can focus on at the moment and with the drop in both WTI and Brent crude oil continuing it currently seems that there is no light at the end of the tunnel," said James Hughes, chief market analyst at Alpari UK. “Many will be asking just how much lower this oil price can go before some kind of stabilising effect kicks in, however after every $10 fall experts have been calling the end of the slide but have seen it continue to drop like a stone.” Aggreko leads gains after contract wins Temporary power provider Aggreko has signed a two-year contract with Energia Argentina and extended another deal in Africa. Aggreko will deliver an extra 150MW of diesel-fuelled power in Argentina. The group has additionally agreed to extend its existing 300MW of capacity with the same customer about two more years. Despite a record-breaking Christmas week, Sainsbury's third-quarter like-for-like sales declined 1.7%, better than the 3.2% fall City analysts had expected. However, the supermarket group, the first of the major grocers to report after the festive period before Tesco follow on Wednesday and Morrisons next week, warned that it expected the fourth quarter to be "similar to that of our first half", which fell 2.1%. In December budget airline Easyjet saw a 3.2% increase in the number of passengers flown to reach 4,634,977, whilst the company’s load factor improved by half a percentage point to reach 88.4%. On a rolling 12-month basis the number of passengers carried grew by 6.5% to hit 65.3m. In 2014 homebuilder Persimmon achieved a 17% increase in legal completions to reach 13,509 new homes, for a 36% rise in the number of new homes delivered to the market over the last two years. The average selling price improved by 5% last year, to reach £190,500. Homebuilder and construction outfit Galliford Try saw a solid performance over the first half of the year ending on 31 December, with unit completions rising by 12.5% and the integration of the recently acquired Miller Construction business said to be proceeding substantially ahead of plan. |
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| | techMARK 2,926.67 +0.53%
FTSE 100 6,394.41 +0.44%
FTSE 250 15,832.32 +0.34% FTSE 100 - Risers
Aggreko (AGK) 1,495.00p +3.96%
ARM Holdings (ARM) 968.50p +2.65%
Marks & Spencer Group (MKS) 466.20p +2.60%
Morrison (Wm) Supermarkets (MRW) 177.40p +2.13%
Tesco (TSCO) 182.35p +1.99%
Standard Chartered (STAN) 964.40p +1.83%
National Grid (NG.) 912.20p +1.72%
United Utilities Group (UU.) 914.00p +1.56%
Ashtead Group (AHT) 1,126.00p +1.53%
Prudential (PRU) 1,458.00p +1.50% FTSE 100 - Fallers
Fresnillo (FRES) 781.00p -1.20%
Weir Group (WEIR) 1,751.00p -1.19%
Sage Group (SGE) 455.00p -1.04%
Coca-Cola HBC AG (CDI) (CCH) 1,134.00p -0.87%
BG Group (BG.) 842.70p -0.68%
BP (BP.) 388.85p -0.56%
Glencore (GLEN) 282.55p -0.55%
Tullow Oil (TLW) 394.00p -0.53%
Associated British Foods (ABF) 3,072.00p -0.52%
easyJet (EZJ) 1,674.00p -0.48% FTSE 250 - Risers
Renishaw (RSW) 2,200.00p +6.85%
esure Group (ESUR) 217.80p +3.12%
Galliford Try (GFRD) 1,264.00p +2.35%
Interserve (IRV) 543.50p +2.35%
Thomas Cook Group (TCG) 125.30p +2.29%
NMC Health (NMC) 470.20p +2.22%
Restaurant Group (RTN) 656.50p +2.10%
SSP Group (SSPG) 277.90p +1.98%
Ladbrokes (LAD) 104.40p +1.85%
Britvic (BVIC) 664.50p +1.84% FTSE 250 - Fallers
Card Factory (CARD) 275.90p -3.63%
Soco International (SIA) 269.70p -2.99%
Vedanta Resources (VED) 544.50p -2.68%
Jimmy Choo (CHOO) 171.40p -2.61%
Drax Group (DRX) 412.80p -2.39%
Debenhams (DEB) 75.50p -2.14%
Bwin.party Digital Entertainment (BPTY) 108.70p -1.81%
Ted Baker (TED) 2,249.00p -1.58%
Afren (AFR) 41.16p -1.51%
Infinis Energy (INFI) 212.00p -1.40% |
| | UK Event Calendar | | Wednesday January 07
INTERIM DIVIDEND PAYMENT DATE
3i Group, British Smaller Companies VCT, De La Rue, National Grid, Norcros, Sepura, Solid State
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
FOMC Interest Rate Minutes (US) (19:00)
PMI Construction (GER) (08:30)
PMI Retail (EU) (09:10)
Unemployment Rate (GER) (08:55)
GMS
Petards Group
IMSS
Caledonia Investments
EGMS
Trading Emissions
TRADING ANNOUNCEMENTS
Robert Walters, Sainsbury (J)
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
New Car Registrations (09:30) |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks gain ahead of Eurozone inflation report European stocks advanced ahead of the release of a report that may show the Eurozone entered deflation, adding to stimulus hopes.
Analysts predict euro-area consumer prices fell 0.1% year-on-year in December after a 0.3% gain a month earlier. This would add pressure on the European Central Bank to introduce full-blown quantitative easing at its 22 January meeting to address price instability and the fragile economy.
Meanwhile, German unemployment fell by 27,000 to 2.841 million in December, the Federal Labor Agency in Nuremberg said today. Economists predicted a decline of 5,000.The adjusted jobless rate unexpectedly declined to 6.5% from 6.6%.
German retail sales fell 0.8% year-on-year in November after a 2.1% increase a month earlier, missing expectations for a 0.6% increase.
In the US, ADP releases its employment report at 13:15 London time. The Federal Reserve publishes its minutes from its 16-17 December meeting at 19:00, possibly shedding light on when the central bank plans to raise interest rates.
Company-wise car seats and interiors maker Grammer AG gained after saying it is expanding its production plant in Rastatt, Germany.
Sainsbury's was a high riser in London after reporting a better-than-expected fall in third quarter sales. Fellow UK supermarkets Marks & Spencer, Morrison Supermarkets and Tesco also rallied.
Oil edged lower again with Brent crude at $49.96 per barrel and West Texas Intermediate at $47.05 in morning trade.
The euro fell 0.19% to $1.1868. |
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| | US Market Report | | US close: Markets fall following lower than expected ISM data and plummeting oil prices US stocks declined on Tuesday as ISM data came in lower than expected and oil prices continued to slide.
The Dow Jones Industrial Average fell 0.76% to 17,368.78 while the Nasdaq dropped 0.88% to 4,124.37 and the S&P 500 retreated 0.91% to 2,002.20.
Financial analyst Connor Campbell from Spreadex said: "Oil slid even further as the day went on, with Brent Crude touching $51.25 per barrel, its latest 5 and a half year low."
"In the short-term, the commodity must endure another US crude oil inventories release tomorrow afternoon; this figure has been inconsistent of late, so expect more instability before the announcement on Wednesday."
Crude futures were advancing early in the day but WTI crude futures closed 4.272% down to $47.99 a barrel and Brent futures receded by 4.178% to $50.98 a barrel early in the day.
Meanwhile, the US ISM's employment gauge decreased to 56.0 from a previous score of 56.7 while a barometre of prices paid dropped to 49.5 from 54.4 marking its first time below 50 since September 2009.
Campbell added: "US data has been consistently disappointing recently, and may cause the US Fed to reconsider its desired raise in interest rates until America can prove its positive figures can be sustained."
Over on COMEX, gold futures were advancing 1.25% to $1,219.00 while the dollar advanced against the pound and the euro but fell against the yen.
IG market analyst Alastair McCaig said: "For its part, gold has added to the picture of troubled markets trading almost $30 higher in the last 48 hours, with prices above the 100-day moving average at $1,211."
The yield on a benchmark US 10-year Treasury dropped four basis points to 1.99% while in the corporate world Newmont Mining was rising 4.16% and PVH Corp was falling 4.04%.
S&P 500 - Risers
Newmont Mining Corp. (NEM) $20.27 +4.16%
Merck & Co. Inc. (MRK) $60.32 +3.93%
Simon Property Group Inc. (SPG) $191.28 +2.78%
Monster Beverage Corp (MNST) $112.28 +2.60%
Ventas Inc. (VTR) $75.32 +2.23%
CF Industries Holdings Inc. (CF) $282.68 +2.07%
Boston Properties Inc. (BXP) $135.02 +1.94%
HCP Inc. (HCP) $46.16 +1.90%
Freeport-McMoRan Inc (FCX) $22.53 +1.72%
Public Storage (PSA) $191.32 +1.71%
S&P 500 - Fallers
Avon Products Inc. (AVP) $8.61 -6.00%
Southwestern Energy Co. (SWN) $24.71 -5.00%
ONEOK Inc. (OKE) $45.10 -4.16%
ConocoPhillips (COP) $62.93 -4.13%
Genuine Parts Co. (GPC) $101.50 -4.10%
PVH Corp. (PVH) $116.98 -4.04%
Fifth Third Bancorp (FITB) $18.81 -4.03%
CSX Corp. (CSX) $33.49 -3.99%
CONSOL Energy Inc. (CNX) $31.20 -3.88%
Zions Bancorporation (ZION) $26.19 -3.82%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $60.32 +3.93%
Verizon Communications Inc. (VZ) $47.04 +0.97%
Pfizer Inc. (PFE) $31.42 +0.83%
Wal-Mart Stores Inc. (WMT) $86.31 +0.77%
Coca-Cola Co. (KO) $42.46 +0.76%
McDonald's Corp. (MCD) $92.40 +0.18%
AT&T Inc. (T) $33.60 +0.15%
Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $58.98 -2.59%
International Business Machines Corp. (IBM) $156.07 -2.16%
General Electric Co. (GE) $24.07 -2.15%
American Express Co. (AXP) $88.63 -2.13%
Goldman Sachs Group Inc. (GS) $184.53 -2.02%
Intel Corp. (INTC) $35.28 -1.86%
Microsoft Corp. (MSFT) $45.65 -1.46%
United Technologies Corp. (UTX) $111.52 -1.41%
Boeing Co. (BA) $127.53 -1.18%
E.I. du Pont de Nemours and Co. (DD) $70.89 -1.16% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: Bank of England, Opec, Russia The Bank of England's lack of preparedness for the financial crisis that struck in 2007 has been laid bare with the publication for the first time of the secret discussions that took place between top officials and directors. Minutes of the Bank's board and oversight committee show that senior officials congratulated themselves on their handling of the economy just days before Northern Rock came close to collapse, sparking the first run on a British lender in more than a century. - The Times Leading British oil services companies are already being caught in the crossfire of the fierce price war being waged by Opec against shale oil and gas drillers and frackers in the United States. Explorers and producers are forecast to cut spending on American projects by up to 40% this year, even after the cost of hiring drilling rigs, a key indicator of the health of the industry, halved over the past 18 months. - The Times
Russia's foreign reserves have dropped to the lowest level since the Lehman crisis and are vanishing at an unsustainable rate as the country struggles to defends the rouble against capital flight. Central bank data show that a blitz of currency intervention depleted reserves by $26bn in the two weeks to 26 December, the fastest pace of erosion since the crisis in Ukraine erupted early last year. - The Daily Telegraph
House prices will fall across Britain this year, according to a leading economic forecaster, with the greatest declines expected to be in London. In sharp contrast to 2014 - when prices jumped by 8.8% nationally - the Centre for Economics and Business Research said the threat of higher interest rates, the May general election, greater supply and fewer foreign buyers will send the market into reverse in 2015. - The Guardian
Prices in UK shops fell in every month of 2014, according to an industry group that predicts tumbling oil prices will continue the deflationary pattern this year. The British Retail Consortium's latest figures show shop prices fell again in December on a year earlier, the 20th consecutive month of deflation. Prices were not down quite as sharply as in November, however, as food prices ceased falling in December. - The Guardian | | |
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