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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: Traders in holding pattern ahead of Eurogroup meeting UK stocks began the morning moving slightly lower on the heels of weaker than forecast Japanese growth domestic product figures, overnight, and ahead of a critical meeting of Eurozone finance ministers, on Monday evening.
Traders are watching to see if Greece's new government and the European Union are able to thrash out a compromise deal to solve the country's debt burden or at least to ensure its access to external financing while a solution is found.
As of 08:47 the FTSE 100 was trading lower by 9 points to 6,864.
Speaking to German broadcaster Deutschlandfunk on the probability that he attached to the possibility of reaching such an agreement, the country's finance minister, Wolfgang Schaeuble, said: "From what I've heard about the technical talks over the weekend, I'm very sceptical, but we will get a report today and then we'll see."
Japan's GDP expanded at an annualised pace of 2.2% over the last three months of 2014, data from Japan's Cabinet Office revealed on Monday morning.
That was well below the 3.5% expected by economists.
Acting as a backdrop, the Confederation of British Industry revised its estimate for growth in the UK economy this year to 2.7%, up from its previous calculation of 2.5%.
To take note of as well, writing in the FT's weekend edition John Authers called attention to the recent tepid rate of growth in company revenues in the US and Europe, when compared to what appeared to be robust growth in company profits.
Oil price moving too quickly to make predictions, Hunting says
Shares in oilfield services firm Hunting reeled after the company said that it "does not believe that it is appropriate at this stage to provide financial guidance for 2015," due to the rapid changes in the price of oil.
Online gambling group 888 Holdings was "unable" to agree on the terms of a possible takeover by William Hill and talks have been called off. The company, which on 10 February confirmed speculation that it was in discussions with the high street bookie, said on Monday that the decision follows concerns from a key shareholder.
Tesco could slash up to 10,000 jobs as part of its attempts to halt a slide in profits, according to the Sunday Telegraph.
Balfour Beatty has disposed of an 80% interest in the Thanet offshore transmission project for £40m. The 80% share has been acquired by funds managed by core infrastructure asset manager Equitix, according to an investor note released on Monday. |
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| | techMARK 3,116.52 -0.37%
FTSE 100 6,862.99 -0.15%
FTSE 250 16,830.71 -0.10%
FTSE 100 - Risers
SABMiller (SAB) 3,528.00p +2.04%
Aberdeen Asset Management (ADN) 456.30p +1.65%
Taylor Wimpey (TW.) 142.10p +1.14%
Glencore (GLEN) 289.75p +1.10%
Anglo American (AAL) 1,216.00p +0.95%
easyJet (EZJ) 1,723.00p +0.94%
Coca-Cola HBC AG (CDI) (CCH) 1,174.00p +0.86%
International Consolidated Airlines Group SA (CDI) (IAG) 558.50p +0.81%
HSBC Holdings (HSBA) 603.00p +0.80%
Royal Mail (RMG) 449.60p +0.69%
FTSE 100 - Fallers
Fresnillo (FRES) 846.50p -3.70%
Intertek Group (ITRK) 2,501.00p -3.62%
Centrica (CNA) 279.10p -2.75%
Weir Group (WEIR) 1,848.00p -2.33%
United Utilities Group (UU.) 939.00p -1.57%
SSE (SSE) 1,545.00p -1.47%
Admiral Group (ADM) 1,440.00p -1.30%
BG Group (BG.) 962.20p -1.29%
National Grid (NG.) 879.80p -1.17%
Rolls-Royce Holdings (RR.) 933.50p -1.16%
FTSE 250 - Risers
Jimmy Choo (CHOO) 172.60p +5.24%
Supergroup (SGP) 1,041.00p +3.89%
Bwin.party Digital Entertainment (BPTY) 86.70p +3.77%
Nostrum Oil & Gas (NOG) 505.50p +2.41%
Melrose Industries (MRO) 284.00p +1.94%
esure Group (ESUR) 232.10p +1.84%
AL Noor Hospitals Group (ANH) 997.50p +1.79%
Ophir Energy (OPHR) 143.80p +1.77%
Lonmin (LMI) 165.90p +1.59%
Telecom Plus (TEP) 1,217.00p +1.59%
FTSE 250 - Fallers
Hunting (HTG) 474.70p -4.35%
Afren (AFR) 7.00p -3.85%
Fidessa Group (FDSA) 2,376.00p -3.81%
Petrofac Ltd. (PFC) 779.50p -2.56%
Indivior (INDV) 163.00p -2.04%
Oxford Instruments (OXIG) 721.50p -1.97%
Pace (PIC) 329.60p -1.96%
Centamin (DI) (CEY) 67.95p -1.74%
Thomas Cook Group (TCG) 125.90p -1.64%
Telecity Group (TCY) 936.50p -1.63% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks decline ahead of Greek bailout talks European stocks declined ahead of talks between Eurozone finance ministers on Greece.
Finance ministers and European Central Bank President Mario Draghi meet on Monday at 16:30 GMT in Brussels to discuss Greece's bailout programme, which ends on 28 February.
Greek Prime Minister Alexi Tsipras told German magazine Stern that he expects "difficult negotiations, nevertheless I am full of confidence".
"Another painfully quiet day of data will see all eyes on the Greek issue, with all the uncertainty and contradictory rumours that comes with the territory," said Connor Campbell, financial analyst for Spreadex.
"Already the ever-cheery [German finance minister] Wolfgang Schauble has thrown cold water on those who think a solution will be found, saying he is very sceptical an agreement can be made, whilst France's [finance minister Michel] Sapin used his foresight to predict 'huge danger' for Greece if it leaves the Eurozone. It will be comments like this that are likely to dominate the day, and the markets are already reflecting the volatility caused by such statements as the Eurozone indices limped to Monday's open."
The euro was up 0.23% to $1.1420.
Oil prices
Brent crude dropped 0.96% to $60.93 per barrel in morning trade, according to the ICE, after a strong start as the oversupply of oil continues to weigh on the market.
While oil has been rising over the past two weeks, the sector has been affected by the fact that output has remained high despite weak demand.
"We continue to believe that neither supply nor demand will respond materially near-term. On our estimates, global supply is running 1.4m barrels per day above global demand in the first half of 2015, up from 0.9m in the fourth quarter of 2014," Bank of America Merrill Lynch said on Friday in a statement.
Among stocks, Altice SA and Bouygues SA gained following reports that Patrick Draghi's company is stepping up plans for a potential takeover of mobile carrier Bouygues Telecom. |
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| | US Market Report | | US close: Markets gain as Dow closes above 18,000 for the first time in 2015 US stocks rose on Friday as energy stocks reaped the benefits from a rebound in oil prices, while consumer confidence unexpectedly declined.
The Dow Jones Industrial Average ended the week up by 46.97 to 18,0, while the S&P 500 and the Nasdaq rose 8.51 and 36.22 points respectively.
Oil rose above $60 a barrel on Friday for the first time in 2015, bringing its weekly gain to just under 4%, boosted by indications that deeper industry spending cuts could cap excess supply and better-than-expected German data.
The price of Brent crude rose 3.4% to $61.38 a barrel, while West Texas Intermediate gained 2.5% to $52.54 a barrel.
US imported goods prices fell 2.8% month-on-month in January, below consensus expectations of a 3.2% decline.
Prices for petroleum and petroleum product imports were down 17.7% on the month, a drop that was largely expected given the sharp decline of crude prices last month.
"The strength in the US dollar and lower energy prices are key factors driving the biggest monthly decline in imported non-petroleum goods prices since 2009," Barclays analysts said in a note.
"The recent stabilisation in oil prices should help slow the decline in prices of energy imports in coming months.
"However, the outlook for further monetary policy divergence and appreciation of the dollar will likely continue to put downward pressure on non-petroleum goods prices."
The University of Michigan's consumer-confidence, a closely-watched gauge of consumer sentiment in the States fell to its lowest in three months in February, surprising analysts who had expected no change.
The index dropped to 93.6 this month from 98.1 in January, while the consensus estimate was for a flat reading of 98.1.
In corporate news, CBS rose 3.57% after announcing late on Thursday that its fourth quarter profit fell compared with the same period in the previous 12 months, but revenue rose, while Groupon climbed 6.64% despite delivering a weak outlook.
CyberArk Software rallied 16.33% after releasing strong fourth quarter results on Thursday, while JM Smucker edged forward even though sales declined in the third quarter, hit by weak volumes in the company's US retail coffee division.
Going the other way, Zynga plummeted 15.49% after saying its fourth quarter loss widened to $45.1m from $25.2m in the year-earlier period.
Gold futures advanced 0.65% to $1,228.60, while the dollar was largely unchanged against the euro and the yen and registered only a marginal loss against the pound.
S&P 500 - Risers
Pioneer Natural Resources Co. (PXD) $157.85 +6.55%
Peabody Energy Corp. (BTU) $7.65 +6.40%
VF Corp. (VFC) $75.26 +6.00%
Helmerich & Payne Inc. (HP) $69.58 +5.49%
Denbury Resources Inc. (DNR) $8.66 +4.72%
Avon Products Inc. (AVP) $9.08 +4.49%
Interpublic Group of Companies Inc. (IPG) $22.10 +4.44%
United States Steel Corp. (X) $26.36 +4.44%
Newfield Exploration Co (NFX) $32.24 +4.37%
Nabors Industries Ltd. (NBR) $12.73 +4.26%
S&P 500 - Fallers
Assurant Inc. (AIZ) $61.44 -7.50%
ConAgra Foods Inc. (CAG) $34.83 -4.34%
DaVita HealthCare Partners Inc (DVA) $73.10 -4.31%
Republic Services Inc. (RSG) $39.34 -4.07%
American Express Co. (AXP) $78.08 -2.98%
Edison International (EIX) $62.91 -2.92%
DTE Energy Co. (DTE) $81.56 -2.89%
Charles Schwab Corp. (SCHW) $29.13 -2.77%
Pinnacle West Capital Corp. (PNW) $65.13 -2.70%
Exelon Corp. (EXC) $33.51 -2.70%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $85.13 +1.92%
Microsoft Corp. (MSFT) $43.87 +1.81%
Chevron Corp. (CVX) $112.78 +1.73%
United Technologies Corp. (UTX) $121.25 +1.39%
Johnson & Johnson (JNJ) $99.62 +1.20%
International Business Machines Corp. (IBM) $160.40 +1.19%
Boeing Co. (BA) $149.73 +1.11%
Exxon Mobil Corp. (XOM) $93.37 +1.08%
General Electric Co. (GE) $25.15 +1.04%
Intel Corp. (INTC) $34.36 +0.69%
Dow Jones I.A - Fallers
American Express Co. (AXP) $78.08 -2.98%
Pfizer Inc. (PFE) $34.64 -0.66%
Visa Inc. (V) $269.63 -0.47%
Coca-Cola Co. (KO) $41.99 -0.43%
Verizon Communications Inc. (VZ) $49.31 -0.42%
Goldman Sachs Group Inc. (GS) $189.00 -0.41%
Unitedhealth Group Inc. (UNH) $109.44 -0.36%
Home Depot Inc. (HD) $111.89 -0.24%
Procter & Gamble Co. (PG) $85.90 -0.15%
E.I. du Pont de Nemours and Co. (DD) $76.18 -0.14%
Nasdaq 100 - Risers
Vimpelcom Ltd Ads (VIP) $5.37 +10.49%
Liberty Global plc Series A (LBTYA) $52.49 +5.42%
Vertex Pharmaceuticals Inc. (VRTX) $113.66 +3.68%
Discovery Communications Inc. Class A (DISCA) $31.45 +3.64%
NetApp Inc. (NTAP) $38.22 +3.59%
Baidu Inc. (BIDU) $212.13 +3.47%
Alexion Pharmaceuticals Inc. (ALXN) $182.29 +3.42%
eBay Inc. (EBAY) $56.47 +3.17%
Wynn Resorts Ltd. (WYNN) $159.34 +2.99%
TripAdvisor Inc. (TRIP) $84.81 +2.92%
Nasdaq 100 - Fallers
Kraft Foods Group, Inc. (KRFT) $64.42 -2.65%
Sirius XM Holdings Inc (SIRI) $3.83 -1.79%
Monster Beverage Corp (MNST) $117.74 -1.49%
Staples Inc. (SPLS) $16.86 -1.29%
Nxp Semiconductors Nv (NXPI) $84.79 -0.70%
Facebook Inc. (FB) $75.74 -0.64%
Bed Bath & Beyond Inc. (BBBY) $77.91 -0.63%
Stericycle Inc. (SRCL) $131.07 -0.56%
Mondelez International Inc. (MDLZ) $36.78 -0.54% |
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| | Newspaper Round Up | | Monday newspaper round-up: Copenhagen shooting, £650m cyberattack, house prices... An Islamist extremist identified as ex-con Omar el-Hussein shot two people during two separate incidents in Copenhagen on Saturday before being killed by police early Sunday morning, according to The Telegraph.
British banks have reportedly lost as much as £650m in an act of cybercrime perpetrated by a group of Russian criminals, according to The Telegraph.
The average house price across England and Wales will likely increase by almost £6,000 in February due to a lack of properties entering the market, said The Times.
The British justice system should be reinvented with the addition of an online court to expand access to justice and resolve claims of up to £25,000 according to the civil justice council, reported The Guardian.
A terror group in Libya associated with ISIS has been condemned for releasing video footage of 21 Egyptian Christians being beheaded, wrote The Times.
Rolls-Royce has become embroiled in a multi-billion-dollar bribery and kickback scandal at Petrobas, according to the Financial Times.
Shadow chancellor Ed Balls told Britain on Sunday that they should seek receipts for any cash-job done by a cleaner, handyman or gardener because it is the "right thing to do", wrote The Times. | | |
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