| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Greek developments, central bank uncertainty keep UK stocks flat It was another subdued finish for London's stocks on Thursday as the market continued to fluctuate at a 15-year high on the back of mixed newsflow about Greece and uncertainty regarding global monetary policy. The FTSE 100 finished the session down just 0.1% at 6,888.90. The index has stayed broadly flat since closing at 6,898.13 on Tuesday, its highest finish since reaching an all-time closing high of 6,930.20 in December 1999.
Greece
Greece on Thursday submitted a request for a six-month loan extension, but on different terms from the existing bailout. The Greek proposal reportedly asked for flexibility on the "current arrangement" and more help for the country's banks.
However, Germany rejected the request, saying that Greece did not present a "substantive proposal for a solution".
"Greece is running out of time and money," said Berenberg analyst Holger Schmieding. "Having already come part of the way, Greece may well move further and accept the current programme as the basis for all further discussions at the Eurogroup meeting Friday," he said.
The European Central Bank on Wednesday granted Greece's banks €3.3bn in funds under its emergency liquidity assistance programme, though this was less than Athens had requested.
Central banks in focus
Minutes from the January Federal Open Market Committee meeting released on Wednesday showed that "many" members said a premature rate increase could be detrimental for the recovery, while "several" believed a later move could lead to high inflation.
The European Central Bank (ECB) also released minutes of its latest meeting, during which it decided to introduce a €1trn quantitative easing package. This was the first time the ECB has revealed details of its meeting, which revealed that some members had voted against the stimulus package, which is due to start next month.
Minutes from the Bank of England's policy meeting on Wednesday showed that while the vote to keep rates unchanged was unanimous, policymakers had different opinions on the timing of a rate hike given the recent deterioration in inflation.
Centrica
Shares in Centrica dropped 8.5% after the British Gas owner slashed its dividend and future payout policy, and warned that earnings for next year will be lower than expected too.
Oil and gas stocks such as Tullow, BG Group, Shell and BP were also under the weather as Brent crude prices fell 3.5%.
BAE Systems erased earlier losses after predicting marginal growth in underlying earnings in 2015, as it eased worries about defence spending in the UK and painted a positive outlook for the US market.
High street sportswear retailer Sports Direct impressed after saying it is confident of increasing profits this year despite a significant slowdown in sales growth in its third quarter.
SABMiller edged higher despite the resignation of its chief financial officer Jamie Wilson for personal reasons. He will exit the board immediately and will officially leave the group on 31 March 2015.
Petra Diamonds jumped after raising its production guidance from 3.2m to 3.3m carats for the 12 months to 30 June.
Drinks packaging group Rexam rose after agreeing a £5.4bn takeover by US rival Ball Corporation, a much larger higher valuation than had been expected by the market.
Market Movers
techMARK 3,133.18 +0.05%
FTSE 100 6,888.90 -0.13%
FTSE 250 17,049.79 +0.28% |
| | £6,175 Profit betting the Euro will fall | | This profitable trade came out of the recent 803 point as our program signaled to sell the Euro against The US Dollar in December 2013 and stayed with the down trend until February 2015. Find out how we made this trade using our trading system, click here. |
|
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 962.00p +2.94%
easyJet (EZJ) 1,785.00p +2.12%
Dixons Carphone (DC.) 441.60p +1.99%
Associated British Foods (ABF) 3,057.00p +1.97%
National Grid (NG.) 891.10p +1.96%
International Consolidated Airlines Group SA (CDI) (IAG) 564.00p +1.90%
Barratt Developments (BDEV) 496.60p +1.74%
Sky (SKY) 956.00p +1.70%
Persimmon (PSN) 1,709.00p +1.67%
WPP (WPP) 1,506.00p +1.62%
FTSE 100 - Fallers
Centrica (CNA) 257.10p -8.54%
Babcock International Group (BAB) 996.00p -5.68%
Anglo American (AAL) 1,223.00p -2.86%
Tullow Oil (TLW) 398.20p -2.66%
BG Group (BG.) 951.50p -2.58%
Royal Dutch Shell 'A' (RDSA) 2,109.00p -2.09%
Royal Dutch Shell 'B' (RDSB) 2,198.00p -2.07%
Glencore (GLEN) 283.55p -2.04%
GlaxoSmithKline (GSK) 1,526.50p -1.86%
Weir Group (WEIR) 1,862.00p -1.74%
FTSE 250 - Risers
Petra Diamonds Ltd.(DI) (PDL) 188.90p +7.88%
Rexam (REX) 569.50p +6.05%
Home Retail Group (HOME) 208.00p +3.79%
Diploma (DPLM) 785.00p +3.63%
Dignity (DTY) 1,960.00p +3.54%
Euromoney Institutional Investor (ERM) 1,042.00p +3.17%
Just Retirement Group (JRG) 144.10p +3.15%
Galliford Try (GFRD) 1,464.00p +3.10%
Vesuvius (VSVS) 478.00p +3.08%
Entertainment One Limited (ETO) 296.20p +3.03%
FTSE 250 - Fallers
Premier Oil (PMO) 175.00p -4.94%
Hunting (HTG) 488.30p -4.63%
Bank of Georgia Holdings (BGEO) 2,140.00p -4.51%
Afren (AFR) 10.61p -4.41%
Soco International (SIA) 289.20p -4.21%
Catlin Group Ltd. (CGL) 677.00p -4.04%
Drax Group (DRX) 403.10p -3.43%
Cairn Energy (CNE) 197.70p -2.90%
Ophir Energy (OPHR) 141.90p -2.87% |
| | Earn 16% in 1 year... | | Become an armchair developer, invest in one of the UK's most exclusive housing developments and earn over 16% per annum! Register here for further information
|
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | Europe close: Stocks rise as Greece requests loan extension and Eurozone confidence improves European stocks gained after Greece requested a loan extension and a report showed Eurozone consumer confidence improved more than expected in February. Eurozone finance ministers will hold an emergency meeting on Friday afternoon to discuss Greece's new request for the loan extension which is on different terms from the existing bailout. The Greek proposal asked for the best use of flexibility in the "current arrangement" and more help for the country's banks, calling for the European Central Bank to re-introduce the collateral waiver that was suspended earlier this month. The ECB earlier granted Greece’s banks €3.3bn in emergency funds as the US warned the nation that it had reach a compromise deal on its debt or face “immediate hardship”. Separately, the ECB released its meeting minutes for the first time which showed “some members” voted against the €1trn quantitative easing package on 22 January. The minutes on Thursday stated "in the view of some members there appeared to be no urgent need for monetary policy action at the current meeting". In a boost to markets, an index for Eurozone consumer confidence rose to -6.7 in February from -8.5 in January, surprising analysts who had estimated a reading of -7.5. Elsewhere in Europe, France has told the European Commission it is committed to take further action to meet deficit target, according to reports. The Commission is scheduled to rule on the deficit on 27 February. On a downbeat note, a gauge of oil and gas stocks dropped on the Stoxx 600 as crude oil declined. Brent crude fell 0.5% to $60.22 per barrel in afternoon trade, according to the ICE, after a build in weekly US crude inventories and a possible rise in Saudi output sparked worries about oversupply. Among stocks, British gas owner Centrica declined after it registered an annual loss and slashed its dividend. Cap Gemini SA rallied after reporting full-year net income that exceeded analysts’ estimates. Rexam gained as it reported better-than-estimated annual profit and as US rival Ball Corp. offered to buy its rival beverage-can maker for 628p a share in cash and stock. Randstad Holding NV advanced after reporting an increase in organic sales in January. Rheinmetall jumped after posting 2014 profit that beat its forecast, driven by record earnings at the auto-component business. |
| | Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. | | You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit.
|
| | US Market Report | | US open: Dow down 100 points on Germany's Greek refusal US stocks opened lower on Thursday, after Germany rejected Greece's proposal, while oil prices retreated again.
Just before 10:00 in New York, the Dow Jones Industrial Average was 0.58% down, while the S&P 500 declined 0.03% and the Nasdaq rose 0.04%
On Thursday afternoon, reports emerged that Germany had rejected Greece's conciliatory request for a six-month extension on its loan agreement, claiming the demand was "not a substantial proposal for a solution."
"Greece is running out of time and money," said Berenberg analyst Holger Schmieding.
"Having already come part of the way, Greece may well move further and accept the current programme as the basis for all further discussions at the Eurogroup meeting Friday.
"Changing just parts of the request Greece has now submitted may suffice for that but completing Greece's inevitable U-turn that fast will be tough for its double-populist coalition, to put it mildly."
Markets had closed marginally lower on Wednesday, as investors came to terms with the minutes from the latest meeting of the Federal Reserve, which seemed to suggest the rate hike might come later than expected.
"The enhanced possibility of the Federal Reserve hiking interest rates later in the year after a set of dovish FOMC minutes helped US stock markets pull off the lows on Wednesday," said CMC Markets analyst Jasper Lawler.
"Nevertheless, losses in the energy sector dragged the major indices just into the red as oil prices slid."
The Philadelphia Fed's manufacturing index is released at 15:00 GMT and economists expect a slight rebound in the index, which fell from 24.3 in December to 6.3 in January.
Energy stocks were the worst hit, after oil prices tumbled to about $50 a barrel, in the wake of reports showing a huge increase in US crude stockpiles.
West Texas Intermediate crude lost over 5.6% to $49.39 a barrel, while Brent crude slipped 4.2% and was trading at $58.05 a barrel.
Oil groups Exxon Mobil slid 1.89%, with ConocoPhillips down 2.83% and Halliburton by 1.91%.
Retail giant Wal-Mart declined 2.93% after it gave disappointing forecasts, even though its fourth quarter rose from $4.43bn to $4.97bn.
T-Mobile US rose 5% after reporting a better-than-expected surge in revenue and swinging to a profit in the fourth quarter.
Priceline Group, the online travel company, surged 7.33 % after profit and sales beat expectations |
| | Will you be able to retire in comfort? | | Download the 15-Minute Retirement Plan by Fisher Investments.
Click here to download! |
| | Broker Tips | | Broker tips: Centrica, SABMiller, BAE Systems The consensus stance of a 'hold' at Centrica is likely to see downwards pressure, according to Hargreaves Lansdown Stockbrokers, after the energy provider disappointed the market on Thursday. Analyst Keith Bowman said the dividend cut is a "major blow" to investors with the search for income yield becoming ever harder in the current environment with interest rates at a record low. Meanwhile, the uncertainty surrounding a Competition and Markets Authority investigation into the industry "further undermines confidence".
The abrupt resignation of SABMiller's chief financial officer Jamie Wilson is "certainly a surprise", according to Shore Capital.
"Judging from SAB's track record of financial performance and the successful delivery of the business capability programme, it is the loss of an important member of SAB's management team," said Shore Capital analyst Phil Carroll.
Investec has kept a 'sell' stance on BAE Systems after the defence contractor's 2014 results and 2015 guidance came in below forecasts, saying the company faces a "number of headwinds" in the future. | | |
New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds,
Sipps Travel and Cars - FREE and Easy service CLICK HERE
To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk |
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment