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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 inch higher despite inconclusive Greek talks Unsuccessful debt talks between Greece and Eurozone finance ministers kept investors cautious on Thursday, though London's stock market edged higher as the FTSE 100 snapped a four-session losing streak. The UK index was up 0.1% at 6,822 early on.
After six hours of talks in Brussels on Wednesday, the emergency Eurogroup meeting about Greece proved inconclusive, though this was widely expected.
"The meeting was the first platform where formal negotiations began, but not necessarily where decisions were due to be made. This being the first formal meeting, both sides stood firm on their positions," said economist Gizem Kara from BNP Paribas.
Dutch finance minister and chair of the committee, Jeroen Dijsselbloem, said he had wanted to agree on a framework for future talks ahead of the next Eurogroup meeting on Monday.
"Unfortunately we haven't been able to do that so we'll continue on Monday and move on from there," he said.
Kara said "the absence of a common ground" between Greece and the wider Eurozone increases the risk that a stand-off will continue past Monday. As such, "the end-February expiry date of the current [bailout] programme is approaching fast", the economist warned.
Greece will also be on the agenda at the EU summit on Thursday, along with ongoing conflict between Russia and Ukraine.
In other news, the Bank of England is expected to cut its forecasts for consumer prices to near zero when governor Mark Carney presents the central bank's Inflation Report on Thursday. The report is due out at 10:30.
Rio impresses with returns
Mining group Rio Tinto gained as it pledged to return nearly $6bn to shareholders in respect of 2014 after hiking its full-year dividend by 12% and announcing a $2bn share buyback. "Last year, we made a clear commitment to materially increase cash returns to our shareholders. We have delivered this today," said chief executive Sam Walsh.
Other miners such as Anglo American, Antofagasta and Randgold were also performing well.
Imperial Tobacco was also on the rise after a strong first-quarter performance from its growth brands left it confident of hitting its full-year targets.
In the FTSE 250, Zoopla disappointed with an 11% year-on-year decrease in total advertising members in the first quarter, which it claims was due to the new OnTheMarket website of Agents' Mutual which launched in January.
The oil and gas sector was lower despite a 2% bounce in Brent crude prices to $55.77 a barrel early on with heavyweights BP and Shell both falling after going ex-dividend. Accountancy software group Sage was also in the red as shares went ex-div. |
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| Market Movers
techMARK 3,108.96 -0.02%
FTSE 100 6,822.08 +0.06%
FTSE 250 16,654.01 +0.13%
FTSE 100 - Risers
Rio Tinto (RIO) 3,063.00p +3.08%
Anglo American (AAL) 1,145.00p +1.91%
Weir Group (WEIR) 1,855.00p +1.59%
Antofagasta (ANTO) 701.50p +1.59%
Burberry Group (BRBY) 1,849.00p +1.54%
Fresnillo (FRES) 870.50p +1.34%
BHP Billiton (BLT) 1,491.50p +1.22%
WPP (WPP) 1,468.00p +1.17%
GKN (GKN) 378.80p +1.12%
HSBC Holdings (HSBA) 597.70p +0.95%
FTSE 100 - Fallers
easyJet (EZJ) 1,728.00p -2.10%
Tullow Oil (TLW) 377.80p -1.77%
Sage Group (SGE) 473.90p -1.52%
United Utilities Group (UU.) 971.50p -1.47%
BP (BP.) 440.10p -1.28%
ARM Holdings (ARM) 1,075.00p -1.10%
Carnival (CCL) 2,890.00p -1.03%
Severn Trent (SVT) 2,047.00p -1.02%
Diageo (DGE) 1,866.00p -0.98%
Royal Dutch Shell 'B' (RDSB) 2,223.00p -0.96%
FTSE 250 - Risers
Hunting (HTG) 497.50p +4.32%
Lancashire Holdings Limited (LRE) 636.00p +3.84%
Informa (INF) 535.00p +3.78%
Evraz (EVR) 189.60p +2.38%
Indivior (INDV) 171.50p +2.21%
Kaz Minerals (KAZ) 240.20p +1.91%
Wood Group (John) (WG.) 603.00p +1.86%
Lonmin (LMI) 160.90p +1.77%
AL Noor Hospitals Group (ANH) 959.50p +1.64%
ICAP (IAP) 476.50p +1.53%
FTSE 250 - Fallers
AO World (AO.) 310.00p -4.29%
Zoopla Property Group (WI) (ZPLA) 180.00p -3.23%
Afren (AFR) 8.67p -3.13%
Diploma (DPLM) 773.00p -2.77%
Premier Farnell (PFL) 158.60p -2.40%
Game Digital (GMD) 263.20p -2.19%
Interserve (IRV) 539.50p -2.00%
JD Sports Fashion (JD.) 490.00p -1.98%
Laird (LRD) 317.80p -1.91% |
| | UK Event Calendar | | Thursday 12 February
INTERIM DIVIDEND PAYMENT DATE
Fair Oaks Income Fund Limited
INTERIM EX-DIVIDEND DATE
Henderson Smaller Companies Inv Trust, Murgitroyd Group, NB Private Equity Partners Ltd., Penna Consulting, Rank Group
QUARTERLY EX-DIVIDEND DATE
BP, MedicX Fund Ltd., Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B'
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Consumer Price Index (GER) (07:00)
Continuing Claims (US) (13:30)
Industrial Production (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Manufacturing Inventories (US) (15:00)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (15:00)
Q4
Komercni Banka A.S.GDR (Level 1), Lancashire Holdings Limited, Shire Plc
GMS
Leed Resources, Tangiers Petroleum Ltd (DI)
FINALS
Komercni Banka A.S.GDR (Level 1), Lancashire Holdings Limited, Morgan Advanced Materials , Orange Polska S.A. GDR (Reg S), Rio Tinto, Shire Plc
IMSS
SSE, Tate & Lyle
SPECIAL EX-DIVIDEND PAYMENT DATE
Neptune-Calculus Income & Growth VCT, Ryanair Holdings
EGMS
BATM Advanced Communications Ltd.
AGMS
Blackrock North American Income Trust , easyJet, GCP Infrastructure Investments Ltd, Income & Growth VCT , Paragon Group Of Companies, Pressure Technologies, Unicorn AIM VCT , Zoopla Property Group (WI)
TRADING ANNOUNCEMENTS
UK Commercial Property Trust
UK ECONOMIC ANNOUNCEMENTS
BoE Inflation Report (10:30)
RICS Housing Market Survey (09:30)
FINAL DIVIDEND PAYMENT DATE
Euromoney Institutional Investor
FINAL EX-DIVIDEND DATE
Blackrock Income And Growth Investment Trust, Qatar Investment Fund, Sage Group, Shoe Zone
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks mostly flat as EU makes little headway in Greece talks European stocks were little changed after Eurozone finance ministers failed to make progress on Greece's bailout terms at an emergency meeting. Euro-area finance minister have put off making decisions on Greece's bailout until 16 February in Brussels after meeting for six hours on Wednesday.
Greece's new government is trying to garner support for a new debt proposal and relaxing the terms of five years of austerity.
The euro fell 0.08% to $1.1327.
Turning to Thursday's agenda, all eyes are on the Bank of England (BoE) as the central bank delivers its Inflation Report.
The BoE is expected to cut its forecasts for consumer prices to near zero when Governor Mark Carney presents the report.
Carney has previously said that inflation could turn negative this year amid depressed oil prices and some analysts predict he may present the BoE's first ever deflation report.
Consumer prices fell to a record low of 0.5% in December, well below the BoE's 2% target, meaning Carney had to write a letter to the Chancellor which will be published alongside the Inflation Report.
Deflation is also a concern for the euro-area as a report this morning showed German consumer prices were revised lower to a 0.4% year-on-year drop in January from a previous estimate of a 0.3% decline.
In other economic data, Eurozone industrial production figures for December will be released at 10:00 GMT and reports on US retail sales and US initial jobless claims are due at 13:30 GMT.
Credit Suisse, Societe Generale
Credit Suisse Group advanced as the Swiss lender returned to profit in the fourth quarter.
Societe Generale SA dropped as the French bank reported quarterly profit that fell short of analysts' estimates.
Renault SA gained after the carmaker posted a 30% increase in 2014 earnings, ahead of market forecasts.
Rio Tinto Group edged higher as miner reported better-than-forecast annual profit.
Pernod Ricard SA declined as the maker of Absolut vodka revealed operating profit deteriorated in the half-year ended December. |
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| | US Market Report | | US close: Dow Jones flat as worries over Greece weigh on markets US stocks were largely flat on Wednesday as worries about whether Greece and its creditors will reach an agreement to avoid a debt default worried investors. The Dow Jones Industrial Average fell 6.62 points to 17,862.14, while the S&P lost 0.08 points and the Nasdaq rose 13.54 points.
Greek Finance Minister Yanis Varoufakis began negotiations with Eurozone finance ministers on Wednesday after his government won a parliamentary confidence vote for its refusal to extend an international bailout.
Greece's current bail-out plan expires on 28 February and some analysts fear the country could run out of money before then.
"Commentators generally seem to believe that the Greek stance in the talks is unworkable, so that the risk of outright disaster is still growing, but markets are priced for some kind of stopgap-funding deal for Greece, which allows the ECB to continue financing Greek banks and lets talks continue," said Kit Juckes, a macro strategist at Société Générale.
Asked whether Greece could leave the Eurozone, Varoufakis replied: "Absolutely not."
Meanwhile, Moody's Investors Service said the global economy will not benefit from lower oil prices over the next two years, due to headwinds attributable to sluggish growth in the Eurozone, China, Japan and Russia.
However, the rating agency added that the US economy will benefit from lower crude prices.
Oil prices continued to fall, with Brent crude losing 2.6% to $55 a barrel, while West Texas Intermediate shed over 1.5% to $49.24 a barrel.
AOL plunged 10.19% after its quarterly revenue fell short of expectations, while Pier 1 Imports plummeted 24.34%, after cutting its outlook for earnings-per-share late on Tuesday evening.
Going the other way, PepsiCo advanced 2.45% after the soft drinks giant beat earnings expectations and announced share repurchases and dividend increases, while First Solar edged 0.35% higher after the company announced late on Tuesday that Apple had committed $848m in a power-purchase agreement.
Rite Aid rallied 6.60% after strong quarterly results. The pharmacy group confirmed it has agreed to buy TPG's EnvisionRx in a deal valued at about $2bn.
Gold futures fell 1.01% to $1,219.80, while the dollar fell less than 0.10% against the pound but rose 0.75% against the yen, trading above £120 for the first time since 2 January, and 0.24% against the euro.
S&P 500 - Risers
Genworth Financial Inc. (GNW) $8.33 +6.66%
FMC Technologies Inc. (FTI) $40.92 +5.19%
Zoetis Inc (ZTS) $45.77 +4.24%
Express Scripts Holding Co (ESRX) $84.79 +3.10%
Dun & Bradstreet Corp. (DNB) $129.27 +2.86%
Mondelez International Inc. (MDLZ) $36.77 +2.68%
Akamai Technologies Inc. (AKAM) $63.75 +2.48%
PepsiCo Inc (PEP) $100.40 +2.46%
Red Hat Inc. (RHT) $67.35 +2.45%
Apple Inc. (AAPL) $124.88 +2.34%
S&P 500 - Fallers
Peabody Energy Corp. (BTU) $7.12 -4.81%
Centerpoint Energy Inc. (CNP) $21.65 -4.50%
Transocean Ltd. (RIG) $18.38 -4.07%
Pioneer Natural Resources Co. (PXD) $146.97 -4.02%
TripAdvisor Inc. (TRIP) $67.27 -3.87%
Wisconsin Energy Corp. (WEC) $51.76 -3.77%
NiSource Inc. (NI) $43.25 -3.61%
TECO Energy Inc. (TE) $20.05 -3.56%
Dominion Resources Inc. (D) $74.12 -3.31%
AGL Resources Inc. (GAS) $52.81 -3.10%
Dow Jones I.A - Risers
Goldman Sachs Group Inc. (GS) $187.65 +1.67%
Travelers Company Inc. (TRV) $107.77 +1.17%
Unitedhealth Group Inc. (UNH) $109.85 +0.81%
Verizon Communications Inc. (VZ) $49.81 +0.61%
Visa Inc. (V) $265.99 +0.54%
Pfizer Inc. (PFE) $34.25 +0.29%
Procter & Gamble Co. (PG) $85.64 +0.29%
General Electric Co. (GE) $24.77 +0.20%
McDonald's Corp. (MCD) $94.21 +0.20%
American Express Co. (AXP) $86.01 +0.20%
Dow Jones I.A - Fallers
Cisco Systems Inc. (CSCO) $26.93 -2.04%
Nike Inc. (NKE) $91.31 -1.55%
AT&T Inc. (T) $34.39 -1.32%
Wal-Mart Stores Inc. (WMT) $86.34 -1.09%
E.I. du Pont de Nemours and Co. (DD) $75.25 -0.96%
3M Co. (MMM) $164.48 -0.81%
United Technologies Corp. (UTX) $118.69 -0.59%
Caterpillar Inc. (CAT) $83.41 -0.58%
Microsoft Corp. (MSFT) $42.37 -0.54%
Intel Corp. (INTC) $33.52 -0.53%
Nasdaq 100 - Risers
Express Scripts Holding Co (ESRX) $84.79 +3.10%
Mondelez International Inc. (MDLZ) $36.77 +2.68%
Akamai Technologies Inc. (AKAM) $63.75 +2.48%
Apple Inc. (AAPL) $124.88 +2.34%
Nxp Semiconductors Nv (NXPI) $83.86 +2.32%
Vimpelcom Ltd Ads (VIP) $4.63 +1.98%
Symantec Corp. (SYMC) $25.74 +1.98%
Western Digital Corp. (WDC) $106.09 +1.93%
Facebook Inc. (FB) $76.51 +1.76%
Gilead Sciences Inc. (GILD) $99.98 +1.69%
Nasdaq 100 - Fallers
TripAdvisor Inc. (TRIP) $67.27 -3.87%
Kraft Foods Group, Inc. (KRFT) $65.07 -2.72%
Baidu Inc. (BIDU) $214.56 -2.22%
Wynn Resorts Ltd. (WYNN) $151.24 -2.20%
Cisco Systems Inc. (CSCO) $26.93 -2.04%
Mattel Inc. (MAT) $26.93 -1.86%
Alexion Pharmaceuticals Inc. (ALXN) $173.50 -1.64%
Tesla Motors Inc (TSLA) $212.80 -1.61%
Celgene Corp. (CELG) $118.38 -1.48% |
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| | Newspaper Round Up | | Thursday newspaper round-up: Greek talks, Shell boss, Zurich results Six-hour talks between Eurozone finance ministers in Brussels failed to come to terms with demands made by the new Greek government, reported the Financial Times. Royal Dutch Shell boss Ben van Beurden has oil prices will most likely stay at their current six-year lows for the remainder of 2015, wrote The Telegraph.
Zurich Insurance uncovered a 20% net income decrease in the fourth quarter due to a prolonged low yield and low growth environment, reported the Financial Times.
Britain's £6bn aircraft carriers could be destroyed by a cyberattack because of heir reliance on ageing software, The Times revealed.
David Cameron was called a "dodgy prime minister" by Ed Miliband after he refused to tell the House of Commons whether he discussed tax avoidance at HSBC with Stephen Green prior to making him trade minister in 2011, according to The Guardian.
The Tory government has made plans to give millions of council houses away to low-paid workers who come off benefits, The Times reported.
House prices rose at the slowest pace in two years across England and Wales, wrote The Guardian.
The British government has a "moral mission" to give teenagers struggling with emotional or mental health issues early aid worth £8.5m, according to The Times. | | |
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