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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: Influx of earnings and economic data keeps stocks flat UK stocks were more or less flat on Thursday morning with markets fluctuating a record highs amid a barrage of corporate earnings and economic data. The FTSE 100 was up just 0.03% at 6,937.80 early on. The index set a closing record high of 6,949.63 on Tuesday, having reached a intraday peak of 6,958.89 that same day.
Annual results from a number blue chips received a mixed reaction from investors in London with British American Tobacco, Capita, CRH, Reed Elsevier, RSA and Royal Bank of Scotland all reporting.
Meanwhile, Thursday morning was looking pretty busy in terms of economic data with the release of German consumer confidence and unemployment figures, Eurozone money supply and sentiment data, and gross domestic product estimates in the UK.
Later on there will be inflation, jobless claims and durable goods orders due out in the States.
Earnings come in thick and fast
RBS was more or less flat early on after having more than halved its full-year losses to £3.47bn despite a £4bn write-down on its US arm Citizens Financial and a £1.9bn tax charge. The bank also confirmed the appointment of Sir Howard Davies as its new chairman.
Cigarette maker British American Tobacco was higher after reporting a less-than-expected 8.4% fall in 2014 revenue to £13.97bn, compared with the consensus forecast of £13.89bn.
Capita was weaker as the outsourcing and business services giant underwhelmed with a 13% rise in underling pre-tax profit to £535.7m last year.
Investors also gave a cool reaction to plans by Anglo-Dutch information group Reed Elsevier to combine its two parent companies and rename itself RELX Group. The company also said underlying adjusted operating profit rose 5% to £1.74bn in 2014 as it forecast another year of growth in 2015.
Building materials group CRH was lower despite beating expectations with a 5% rise in sales to €18.9bn last year.
RSA Insurance returned to an annual profit and recommenced its dividend but disappointed with the announcement that its chief financial officer is stepping down.
Standard Chartered rose after appointing former JPMorgan boss Bill Winters as its new chief executive as it confirmed current head Peter Sands will step down in June. In a reshuffle that will eventually see the board slimmed down to 14 directors, the bank also announced that chairman John Peace will step down in 2016.
Diageo and Easyjet were both trading lower after going ex-dividend. |
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| | Market Movers
techMARK 3,148.57 -0.06%
FTSE 100 6,937.80 +0.03%
FTSE 250 17,180.68 -0.04%
FTSE 100 - Risers
Morrison (Wm) Supermarkets (MRW) 197.90p +2.59%
Antofagasta (ANTO) 773.00p +2.52%
Anglo American (AAL) 1,247.50p +1.84%
Tullow Oil (TLW) 403.50p +1.66%
BHP Billiton (BLT) 1,666.50p +1.62%
Sainsbury (J) (SBRY) 275.70p +1.47%
British American Tobacco (BATS) 3,785.50p +1.46%
Rio Tinto (RIO) 3,215.50p +1.42%
SABMiller (SAB) 3,685.50p +1.40%
Randgold Resources Ltd. (RRS) 5,115.00p +1.39%
FTSE 100 - Fallers
easyJet (EZJ) 1,732.00p -4.47%
Reed Elsevier (REL) 1,145.00p -3.54%
RSA Insurance Group (RSA) 439.30p -2.44%
Royal Bank of Scotland Group (RBS) 396.20p -1.76%
Pearson (PSON) 1,391.00p -1.56%
Sky (SKY) 989.50p -1.54%
United Utilities Group (UU.) 942.50p -1.31%
Direct Line Insurance Group (DLG) 327.80p -1.27%
ITV (ITV) 225.30p -1.18%
SSE (SSE) 1,567.00p -1.14%
FTSE 250 - Risers
Domino's Pizza Group (DOM) 741.00p +7.00%
Howden Joinery Group (HWDN) 456.70p +3.89%
Bank of Georgia Holdings (BGEO) 1,806.00p +3.20%
Hunting (HTG) 486.20p +3.18%
Playtech (PTEC) 758.50p +2.78%
RPS Group (RPS) 247.70p +2.78%
Amec Foster Wheeler (AMFW) 897.50p +2.57%
Supergroup (SGP) 1,000.00p +2.56%
Saga (SAGA) 189.50p +2.43%
Ladbrokes (LAD) 116.90p +2.36%
FTSE 250 - Fallers
Beazley (BEZ) 295.00p -7.09%
Cranswick (CWK) 1,377.00p -2.75%
Telecom Plus (TEP) 1,069.00p -2.73%
Spire Healthcare Group (SPI) 317.30p -2.67%
COLT Group SA (COLT) 146.60p -2.46%
Workspace Group (WKP) 825.00p -2.08%
National Express Group (NEX) 267.30p -2.05%
Domino Printing Sciences (DNO) 740.00p -2.05%
Synthomer (SYNT) 265.20p -2.03% |
| | UK Event Calendar | | Thursday 26 February
INTERIMS
Asian Citrus Holding, Kier Group
INTERIM DIVIDEND PAYMENT DATE
Ingenious Entertainment VCT 1 'D' Shares, Ingenious Entertainment VCT 1 E Shares, Ingenious Entertainment VCT 1 F Shares, Ingenious Entertainment VCT 1 G Shs, Ingenious Entertainment VCT 1 H Shs, Ingenious Entertainment VCT 2 'D' Shares, Ingenious Entertainment VCT 2 E Shares, Ingenious Entertainment VCT 2 F Shares, Ingenious Entertainment VCT 2 G Shs, Ingenious Entertainment Vct 2 H Shs
INTERIM EX-DIVIDEND DATE
Diageo, Downing Three VCT C Shares, Downing Two VCT 'C' Shs, DX (Group), Hargreaves Services, Heath (Samuel) & Sons, Mid Wynd International Inv Trust
QUARTERLY EX-DIVIDEND DATE
Alpha Real Trust Ltd., Canaccord Genuity Group Inc., Canadian General Investments Ltd., Duet Real Estate Finance Ltd, HICL Infrastructure Company Ltd, Real Estate Credit Investments PCC Ltd, Utilico Investments Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Price Index (US) (13:30)
Continuing Claims (US) (13:30)
Durable Goods Orders (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
GFK Consumer Confidence (GER) (07:00)
House Price Index (US) (15:00)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
Unemployment Rate (GER) (08:55)
Q4
Hellenic Telecom Industries SA ADS
FINALS
Bodycote, British American Tobacco, Capital & Counties Properties , Circassia Pharmaceuticals, COLT Group SA, Countrywide, CRH, Derwent London, Domino's Pizza Group, Hellenic Telecom Industries SA ADS, Howden Joinery Group, Hutchison China Meditech Ltd, IndigoVision Group, Interserve, Jupiter Fund Management , Kaz Minerals , Kennedy Wilson Europe Real Estate , Ladbrokes, Lavendon Group, Macfarlane Group, Mail.ru Group Ltd GDR (Reg S), Merlin Entertainments , National Express Group, OJSC Cherkizovo Group GDR (Reg S), Premier Oil, Reed Elsevier, Robert Walters, Royal Bank of Scotland Group, RPS Group, RSA Insurance Group, Spirent Communications, STV Group, Synthomer, Travis Perkins, Xchanging
ANNUAL REPORT
Rightmove
IMSS
Kier Group
SPECIAL EX-DIVIDEND PAYMENT DATE
Beazley, Independent Inv Trust
EGMS
Avengardco Investments Public Ltd GDR, JZ Capital Partners Ltd, TwentyFour Select Monthly Income Fund Limited
AGMS
APC Technology Group, British Assets Trust, Gooch & Housego, IDOX, Jelf Group, Nova Resources Limited (DI), Zytronic
TRADING ANNOUNCEMENTS
Countrywide, Hansard Global, Photo-Me International
UK ECONOMIC ANNOUNCEMENTS
GDP (output, income & expenditure) (09:30)
Index of Services (09:30)
FINAL EX-DIVIDEND DATE
Arden Partners, Blackrock Throgmorton Trust, easyJet, Income & Growth VCT , Independent Inv Trust, Octopus Eclipse VCT 1, Treatt, Zytronic
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rally on improved Greek and German confidence European stocks gained as Greece said €700m was returned to its banks after Eurozone creditors approved its four-month bailout extension. In a boost to confidence in Greece, finance minister Yanis Varoufakis told Bloomberg money was deposited in banks following an extension of its bailout. It come after more than €20bn of withdrawals since early December when elections were called.
"There was a deposit flight back into the Greek banking sector," Varoufakis said in the interview. "It's a question of direction. Once you turn the tide, you hope."
The extension to Greece's €240bn lifeline still needs final approval by the Greece and German parliaments on Friday.
On another positive note for European markets, a report showed German unemployment fell 20,000 in February, more than the 10,000 decline that was expected. The jobless rate held at 6.5% in February.
Another report showed German confidence increased more than forecast in March. GfK's forward-looking sentiment index climbed to 9.7 this month from 9.3 in February, beating analysts' estimates of 9.5.
The euro fell 0.07% to $1.1353.
In other economic data releases, UK gross domestic product will be published at 09:30 GMT while the US sees the release of inflation and durable goods orders figures at 13:30 GMT.
RBS in focus after annual report
Royal Bank of Scotland Group was flat after saying restructuring would lead to "substantial" job losses and reporting a net annual loss in 2014 following the write down of its US division.
GDF Suez jumped after posting full-year net income in line with estimates and saying it will reduce capital expenditure.
Repsol SA edged up after tripling fourth-quarter profit on higher refining margins and a rise oil production in Brazil.
Standard Chartered was a high riser after naming Bill Winters as its chief executive officer.
Allianz declined after reporting a fall in fourth-quarter profit that surprised analysts. |
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| | US Market Report | | US close: Dow ekes out gains as oil prices rebound US stocks were flat on Wednesday as the Dow Jones relinquished Tuesday's gain and the Nasdaq halted a 10-day winning streak. The Dow Jones Industrial Average closed up 15.38 points to 18,224.57, while the S&P and the Nasdaq dropped 1.62 and 0.98 points respectively.
In Tuesday's testimony,Yellen downplayed fears of early rates rises, staying away from hinting on possible interest rate hikes by saying the central bank will assess the conditions on a meeting-by-meeting basis.
Wednesday's message was along the same lines, as the Fed chairwoman reiterated that interest rates will be lifted when the Federal Open Market Committee is confident that inflation is on track to hit the central bank's target of 2% growth.
"The Federal Open Market Committee is clearly more worried about tightening monetary policy too early rather than too late," said CMC Markets analyst Jasper Lawler.
"There have been big improvements in the US labour market but inflation is still well below target and that gives the Fed the excuse it needs to stick with zero interest rate policy as long as possible."
Having registered losses in the first two sessions of the week, oil prices rebounded strongly, with Brent crude rising 4.8% to $61.64 a barrel, while West Texas Intermediate advanced 2.8% to $50.72 a barrel.
New US home sales sold at an annual rate of 481,000 in January, declining slightly from 482,000 in December but above expectations of a 470,000 reading.
Meanwhile, applications for US home mortgages fell for a third consecutive week in the week ended 20 February.
According to figures released by the Mortgage Bankers Association, the adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 3.5% last week, reaching its lowest level since 2 January.
In company news, electronics retailer Target edged 0.26% higher despite reporting a pre-tax loss of $5.1bn, including an impairment charge, at its Canadian operations.
Department store chain Macy's advanced 2.38% even though it reported a 2% rise in sales in the holiday shopping quarter, falling short of analysts' estimates.
First Solar climbed 7.02% after reporting late on Tuesday that its profit had almost tripled in the fourth quarter, while animated film producer Dreamworks rose 6.15% despite announcing late on Tuesday that it swung to a fourth quarter loss of $263.2m
Tech giant Hewlett Packard posted first-quarter earnings of 92 cents per share, up 2% from a year ago, beating analysts' expectations but that did not stop shares from plunging 9.92% after it warned that currency headwinds will weigh more than expected on earnings in the current quarter.
Energy group Chesapeake Energy tumbled 9.65% after a profit miss, while Apple slid 2.56%.
Gold futures advanced 0.58% to $1,204.20,while the dollar fell 0.47% and 0.16% against the pound and the euro respectively and slid 0.06% against the yen.
S&P 500 - Risers
First Solar Inc. (FSLR) $54.70 +10.19%
Expeditors International Of Washington Inc. (EXPD) $47.88 +5.29%
Peabody Energy Corp. (BTU) $7.84 +5.09%
Home Depot Inc. (HD) $116.75 +3.98%
United States Steel Corp. (X) $25.13 +3.50%
Freeport-McMoRan Inc (FCX) $21.22 +3.06%
CONSOL Energy Inc. (CNX) $34.34 +3.00%
Exelon Corp. (EXC) $34.79 +2.99%
Cabot Oil & Gas Corp. (COG) $28.40 +2.97%
Coach Inc. (COH) $42.95 +2.97%
S&P 500 - Fallers
Diamond Offshore Drilling Inc. (DO) $30.79 -8.42%
Windstream Holdings Inc (WIN) $7.86 -8.39%
Ensco Plc. (ESV) $26.97 -5.86%
ONEOK Inc. (OKE) $45.10 -4.89%
Wynn Resorts Ltd. (WYNN) $147.00 -4.75%
Noble Corporation plc (NE) $17.83 -4.29%
Rowan Companies plc (RDC) $22.94 -4.10%
Ventas Inc. (VTR) $74.54 -3.92%
HCP Inc. (HCP) $42.16 -3.59%
Macy's Inc. (M) $62.10 -3.21%
Dow Jones I.A - Risers
Home Depot Inc. (HD) $116.75 +3.98%
JP Morgan Chase & Co. (JPM) $60.82 +2.48%
Intel Corp. (INTC) $34.42 +1.95%
Caterpillar Inc. (CAT) $84.50 +1.21%
International Business Machines Corp. (IBM) $164.83 +1.18%
Goldman Sachs Group Inc. (GS) $192.22 +1.00%
Verizon Communications Inc. (VZ) $49.22 +0.92%
General Electric Co. (GE) $25.39 +0.87%
McDonald's Corp. (MCD) $94.98 +0.71%
American Express Co. (AXP) $80.86 +0.70%
Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $115.43 -0.83%
Walt Disney Co. (DIS) $104.67 -0.30%
Boeing Co. (BA) $154.38 -0.23%
Visa Inc. (V) $272.47 -0.20%
Pfizer Inc. (PFE) $34.34 -0.15%
Microsoft Corp. (MSFT) $44.09 -0.14%
Wal-Mart Stores Inc. (WMT) $84.57 -0.04%
Nasdaq 100 - Risers
Expeditors International Of Washington Inc. (EXPD) $47.88 +5.29%
Xilinx Inc. (XLNX) $42.48 +2.88%
KLA-Tencor Corp. (KLAC) $66.27 +2.78%
Altera Corp. (ALTR) $36.80 +2.48%
Broadcom Corp. (BRCM) $45.31 +2.40%
Sirius XM Holdings Inc (SIRI) $3.91 +2.22%
Monster Beverage Corp (MNST) $124.81 +2.20%
Discovery Communications Inc. Class A (DISCA) $33.00 +2.06%
Intel Corp. (INTC) $34.42 +1.95%
Applied Materials Inc. (AMAT) $25.36 +1.81%
Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $147.00 -4.75%
Vodafone Group Plc ADS (VOD) $34.81 -3.25%
Vimpelcom Ltd Ads (VIP) $4.81 -2.83%
Seagate Technology Plc (STX) $60.70 -2.08%
Micron Technology Inc. (MU) $30.78 -1.97%
Western Digital Corp. (WDC) $108.97 -1.91%
Sandisk Corp. (SNDK) $79.97 -1.74%
Tesla Motors Inc (TSLA) $204.05 -1.58%
Sba Communications Corp. (SBAC) $117.81 -1.30%
Henry Schein Inc. (HSIC) $141.39 -1.13%
S&P 500 - Risers
Newfield Exploration Co (NFX) $36.00 +13.67%
First Solar Inc. (FSLR) $58.54 +7.02%
Cabot Oil & Gas Corp. (COG) $29.91 +5.32%
Range Resources Corp. (RRC) $53.91 +5.21%
McDonald's Corp. (MCD) $98.66 +3.87%
American Tower Corp (Reit) (AMT) $97.85 +3.38%
TJX Companies Inc. (TJX) $69.38 +3.31%
Priceline Group Inc (PCLN) $1,250.86 +2.55%
Yahoo! Inc. (YHOO) $44.43 +2.42%
Mattel Inc. (MAT) $25.92 +2.39%
S&P 500 - Fallers
Hewlett-Packard Co. (HPQ) $34.67 -9.92%
Chesapeake Energy Corp. (CHK) $17.98 -9.56%
Cablevision Systems Corp. (CVC) $18.56 -6.26%
Rowan Companies plc (RDC) $21.57 -5.97%
Alcoa Inc. (AA) $15.00 -4.70%
Express Scripts Holding Co (ESRX) $85.09 -2.89%
Integrys Energy Group Inc. (TEG) $75.56 -2.85%
Southwest Airlines Co. (LUV) $44.12 -2.71%
Wynn Resorts Ltd. (WYNN) $143.05 -2.69%
Apple Inc. (AAPL) $128.73 -2.60%
Dow Jones I.A - Risers
McDonald's Corp. (MCD) $98.66 +3.87%
General Electric Co. (GE) $25.91 +2.05%
American Express Co. (AXP) $82.17 +1.62%
Nike Inc. (NKE) $96.82 +1.47%
Pfizer Inc. (PFE) $34.66 +0.93%
Walt Disney Co. (DIS) $105.57 +0.86%
Caterpillar Inc. (CAT) $85.15 +0.77%
Chevron Corp. (CVX) $108.58 +0.57%
JP Morgan Chase & Co. (JPM) $61.14 +0.53%
Johnson & Johnson (JNJ) $101.21 +0.51%
Dow Jones I.A - Fallers
Intel Corp. (INTC) $33.94 -1.35%
International Business Machines Corp. (IBM) $162.81 -1.23%
Unitedhealth Group Inc. (UNH) $114.05 -1.20%
Wal-Mart Stores Inc. (WMT) $83.57 -1.18%
Boeing Co. (BA) $153.01 -0.89%
Travelers Company Inc. (TRV) $106.91 -0.60%
Cisco Systems Inc. (CSCO) $29.49 -0.47%
Home Depot Inc. (HD) $116.31 -0.38%
United Technologies Corp. (UTX) $123.37 -0.36%
Goldman Sachs Group Inc. (GS) $191.72 -0.26%
Nasdaq 100 - Risers
Vimpelcom Ltd Ads (VIP) $5.13 +6.65%
Verisk Analytics Inc. (VRSK) $72.18 +6.29%
Priceline Group Inc (PCLN) $1,250.86 +2.55%
Charter Communications Inc. (CHTR) $182.21 +2.50%
Yahoo! Inc. (YHOO) $44.43 +2.42%
Mattel Inc. (MAT) $25.92 +2.39%
Dollar Tree Inc (DLTR) $79.16 +2.18%
Liberty Global plc Series A (LBTYA) $54.49 +2.14%
Amazon.Com Inc. (AMZN) $385.48 +1.82%
Sba Communications Corp. (SBAC) $119.75 +1.65%
Nasdaq 100 - Fallers
Express Scripts Holding Co (ESRX) $85.09 -2.89%
Wynn Resorts Ltd. (WYNN) $143.05 -2.69%
Apple Inc. (AAPL) $128.73 -2.60%
Western Digital Corp. (WDC) $106.17 -2.57%
Baidu Inc. (BIDU) $203.53 -2.18%
Illumina Inc. (ILMN) $196.22 -1.74%
Bed Bath & Beyond Inc. (BBBY) $74.87 -1.69%
Intel Corp. (INTC) $33.94 -1.35%
Mylan Inc. (MYL) $56.50 -1.25% |
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| | Newspaper Round Up | | Thursday newspaper round-up: HSBC, RBS, Pharmacyclics HSBC boss Stuart Gulliver apologised to MPs on Wednesday for the "unacceptable events" at the bank's Swiss subsidiary following revelations about tax-avoidance activities in the mid-2000s, reports The Independent. He said it had caused "damage to trust and confidence" in the company. RBS's chief executive Ross McEwan is to hand back £1m of his annual pay package, saying he did not want to receive the "role-based" shares incentive, according to The Guardian.
US cancer drugs manufacturer Pharmacyclics is said to be considering a sale that could value it at $19bn, the Financial Times said. According to the paper's sources, Johnson & Johnson is exploring a deal with the company.
According to the Wall Street Journal, Google and merged its European operations into a single business "to better align the business with large customers and develop more unified responses to rising regulatory pressure in the region".
Terra Firma is planning to start a sale of its European cinema chain, Odeon & UCI Group, at the end of the year, reports The Telegraph. The deal could be worth £1bn.
Iberdrola, the Spanish power utility group, has agreed to buy US power and gas distributor UIL Holdings for $52.83 a share, valuing the group at $3bn, the Wall Street Journal reports. | | |
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