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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 retreat from five-month high, Hargreaves Lansdown falls London's blue-chip stocks pulled back from a five-month high on Wednesday morning as investors watched developments in Greece and service-sector data from across the globe. The FTSE 100 was down 0.2% at 6,857 early on, as strong gains from Sky and a host of pharmaceutical stocks were outweighed by falls from Hargreaves Lansdown and commodity shares.
The index jumped on Tuesday to finish at 6,871.80, its highest close since 4 September 2014 when it settled at 6,878. The Footsie is now within a whisker of its record closing level of 6,930 reached in December 1999.
Greece's new prime minister Alexis Tsipras is set to present his proposal for a debt swap to EU Commission president Jean-Claude Juncker in Brussels on Tuesday.
Markets have more or less welcomed the plan which backed down from calling for a total debt write-off and instead proposed swapping outstanding debt for new growth-linked bonds.
It will be a busy day for economic data, with services purchasing managers' indices (PMIs) out in China, the Eurozone, UK and US, along with euro-area retail sales figures and the ADP employment report Stateside.
Data already released showed slowing service-sector growth in China with the HSBC services PMI falling from 53.4 to 51.8.
Sky impresses, Hargreaves Lansdown underwhelms
In its first set of results since slimming down its name to Sky and absorbing its German and Italian sister companies, the satellite broadcaster delivered a strong set of interim figures and cited good momentum in all its markets, causing shares to rise early on.
Pharma stocks were also performing well early on, including Astrazeneca, Glaxosmithkline and Shire. Healthcare outsourcer Synergy Health gained after saying it was on track to hit full-year forecasts as growth momentum picked up strongly in the third quarter.
Half-yearly results from fund manager and savings outfit Hargreaves Lansdown showed record assets under administration and growing client numbers, though shares fell sharply after most figures came in shy of City expectations. Analysts Shore Capital said: "The figures show a slight improvement on a very quiet Q1 but will still require a further uptick in H2 to meet full year consensus."
Oil stocks were pulling back after a strong showing on Tuesday with Tullow Oil, BP and Shell providing a drag as the recent rally in crude prices faltered. Mining companies were also out of favour including BHP Billiton Rio Tinto and Fresnillo. |
| | Market Movers
techMARK 3,073.45 +0.36%
FTSE 100 6,856.55 -0.22%
FTSE 250 16,543.88 -0.16%
FTSE 100 - Risers
Sky (SKY) 958.50p +1.64%
Ashtead Group (AHT) 1,077.00p +1.22%
Admiral Group (ADM) 1,485.00p +1.16%
ARM Holdings (ARM) 1,049.00p +1.16%
AstraZeneca (AZN) 4,690.50p +1.06%
GlaxoSmithKline (GSK) 1,468.00p +1.03%
Shire Plc (SHP) 4,948.00p +0.98%
Morrison (Wm) Supermarkets (MRW) 187.80p +0.97%
Standard Chartered (STAN) 921.60p +0.72%
TUI AG Reg Shs (Post- 16/12/14)(DI) (TUIJ) 1,140.00p +0.71%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 991.00p -5.17%
Tullow Oil (TLW) 409.60p -1.87%
Carnival (CCL) 2,893.00p -1.40%
Fresnillo (FRES) 868.50p -1.31%
Intertek Group (ITRK) 2,398.00p -1.28%
Persimmon (PSN) 1,570.00p -1.26%
BHP Billiton (BLT) 1,540.00p -1.19%
BG Group (BG.) 934.00p -1.16%
Anglo American (AAL) 1,156.50p -1.15%
Weir Group (WEIR) 1,809.00p -1.15%
FTSE 250 - Risers
AL Noor Hospitals Group (ANH) 918.00p +1.94%
esure Group (ESUR) 239.40p +1.87%
Millennium & Copthorne Hotels (MLC) 572.00p +1.78%
Rank Group (RNK) 180.00p +1.69%
Lancashire Holdings Limited (LRE) 620.00p +1.56%
Playtech (PTEC) 712.50p +1.50%
Euromoney Institutional Investor (ERM) 1,045.00p +1.46%
Afren (AFR) 12.00p +1.35%
Brewin Dolphin Holdings (BRW) 293.60p +1.28%
Just Retirement Group (JRG) 137.00p +1.26%
FTSE 250 - Fallers
Moneysupermarket.com Group (MONY) 253.70p -4.01%
Ocado Group (OCDO) 424.10p -2.55%
Game Digital (GMD) 268.00p -2.55%
Indivior (INDV) 173.90p -2.08%
Redefine International (RDI) 56.00p -2.01%
Ladbrokes (LAD) 121.70p -1.85%
Allied Minds (ALM) 428.50p -1.83%
Redrow (RDW) 284.90p -1.76%
Polymetal International (POLY) 591.00p -1.50% |
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| | UK Event Calendar | | Wednesday February 04
INTERIMS
Hargreaves Lansdown, Sky
INTERIM DIVIDEND PAYMENT DATE
Anglo Pacific Group, Ashtead Group, Halma, Vodafone Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
ISM Non-Manufacturing (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
Retail Sales (EU) (10:00)
Q3
Canaccord Genuity Group Inc.
Q4
GlaxoSmithKline
EGMS
Future
AGMS
Connect Group, Conygar Investment Company, Conygar ZDP , Future, Grainger, Impax Asset Management Group, Victrex plc
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Official Reserves (09:30)
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Schroder UK Mid Cap Fund
Q1
GW Pharmaceuticals |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed with all eyes on Greece European stocks were little changed as Greek finance minister Yanis Varoufakis prepared to meet European leaders.
Varoufakis will meet European Central Bank (ECB) President Mario Draghi and German Finance Minister Wolfgang Schaeuble to negotiate a new bailout deal.
The finance minister has slammed Eurozone threats to cut off funding for Greek banks later this month. The ECB said it may cease to act as lender-of-last resort for the Greek financial system.
"These threats are perfectly illegitimate. They are trying to asphyxiate us with arbitrary deadlines," Varoufakis told The Telegraph.
In economic data, the Eurozone services purchasing managers' index was revised to 52.6 in January from an earlier estimate of 52.3. A reading above 50 indicates expansion in the sector.
At 09:30 GMT, Markit/CIPS releases the UK services PMI for January.
A report on Eurozone retail sales at 10:00 GMT is expected to show a 2% rise in December following a 1.5% increase a month earlier.
In the US, ADP releases its employment report at 13:15 GMT, Markit publishes its services PMI at 14:45 and ISM puts out its non-manufacturing composite figures at 15:00.
Banco, Sky
Banco Bilbao Vizcaya Argentaria SA gained after the Spanish bank swung to a fourth-quarter profit.
Sky advanced after reporting a 17% increase in first-half revenue, as customers grew and it expanded its business in Italy and Germany.
LVMH Moet Hennessy Louis Vuitton SA rallied as the fashion house said it is confident for 2015 on the back of renewed demand and improved sales.
Hugo Boss AG declined after reporting 2014 sales and profit that fell short of market forecasts.
The euro fell 0.11% to $1.1468. |
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| | US Market Report | | US close: Stocks rally as Dow gains over 300 points, while oil prices jump US stocks rallied on Tuesday, as positive news from Greece boosted investors' confidence, while oil prices jumped for the second day in a row. The Dow Jones Industrial Average closed the day up 305.36 points at 17,666.40, while the S&P 500 and the Nasdaq rose 1.44% and 0.97% respectively.
Speaking in London on Monday, Yanis Varoufakis, Greece's new finance minister, said the country aimed to swap outstanding debt for growth-related bonds, while running a budget surplus and clamping down on wealthy tax evaders.
"The outlook remains rocky," said Berenberg analyst Holger Schmieding
"Time is not on Greece's side. Capital flight, a drain in deposits and the plunge in economic sentiment and the manufacturing purchasing managers' index all suggest that Greece is at risk of falling into a renewed recession if it cannot end the uncertainty about the Greek outlook and the standoff with its creditors fast.
After a strong rebound on Monday, oil prices jumped on Tuesday, settling at their highest level in 2015 following speculations that a drastic drop in US drilling activity will lead to a decline in supply.
West Texas Intermediate crude gained almost 5.5% settling at $52.40 a barrel, while Brent crude rose 4.9% to end the day at $57.58 a barrel.
"If oil prices don't spend too long sub-$50 per barrel in the first quarter and the oil majors were able to weather the storm in the fourth quarter, it raises hopes that the worst for blue chip oil companies could be behind them," said CMC Markets analyst Jasper Lawler.
Meanwhile, new orders for goods at US factories declined more than expected in December, falling for the fifth straight month.
According to the Commerce Department, factory orders dropped 3.4% in the final month of 2014 after a downwardly-revised 1.7% fall in November, while the consensus estimate was for a smaller decline of 2.4%.
Excluding transportation, which tends to add monthly volatility to the data, factory orders slipped 2.3%, the worst monthly fall since March 2013.
In corporate news, AutoNation, gained 6.47% after sales rose over 10%, while Ford and General Motors advanced 2.49% and 2.63% respectively, after posting double-digit increases for January car sales
Staples and Office Depot both surged 11.20% and 21.49% respectively, after sources cited by the Wall Street Journal suggested the two companies have opened negotiations ahead of a merger, while Chipotle fell 6% after the bell on the back of disappointing quarterly results.
Lending Club rose 5.35% after announcing a deal with Alibaba Group Holding to provide sales financing to small businesses buying from Chinese suppliers.
Gold futures fell 1.13% to $1,262.50, while the dollar lost almost 0.9% and 1% against the pound and the euro respectively, and fell slightly against the yen.
S&P 500 - Risers
Denbury Resources Inc. (DNR) $8.62 +11.23%
Staples Inc. (SPLS) $19.01 +10.91%
Freeport-McMoRan Inc (FCX) $18.98 +8.77%
Eaton Corporation plc (ETN) $69.79 +8.05%
Range Resources Corp. (RRC) $51.38 +7.47%
Avon Products Inc. (AVP) $8.71 +7.27%
Peabody Energy Corp. (BTU) $7.08 +7.11%
CONSOL Energy Inc. (CNX) $32.26 +6.61%
Helmerich & Payne Inc. (HP) $67.85 +6.51%
Transocean Ltd. (RIG) $18.40 +6.48%
S&P 500 - Fallers
National Oilwell Varco Inc. (NOV) $54.08 -4.10%
Southwest Airlines Co. (LUV) $43.25 -2.87%
Vertex Pharmaceuticals Inc. (VRTX) $108.72 -2.21%
Newmont Mining Corp. (NEM) $24.62 -1.95%
Tyson Foods Inc. (TSN) $38.87 -1.77%
CF Industries Holdings Inc. (CF) $301.04 -1.22%
Eli Lilly and Company (LLY) $70.89 -1.12%
Delta Airlines Inc. (DAL) $46.01 -1.08%
Airgas Inc. (ARG) $113.04 -1.00%
Dr Pepper Snapple Group Inc. (DPS) $77.82 -0.87%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $83.92 +3.81%
Chevron Corp. (CVX) $109.53 +3.27%
Exxon Mobil Corp. (XOM) $92.25 +2.98%
Goldman Sachs Group Inc. (GS) $180.24 +2.71%
Home Depot Inc. (HD) $107.24 +2.69%
International Business Machines Corp. (IBM) $158.47 +2.46%
E.I. du Pont de Nemours and Co. (DD) $73.33 +2.40%
Walt Disney Co. (DIS) $94.10 +2.36%
AT&T Inc. (T) $34.34 +2.32%
JP Morgan Chase & Co. (JPM) $56.72 +2.25%
Dow Jones I.A - Fallers
Nasdaq 100 - Risers
Vimpelcom Ltd Ads (VIP) $4.67 +13.35%
Staples Inc. (SPLS) $19.01 +10.91%
Costco Wholesale Corp. (COST) $153.75 +5.31%
TripAdvisor Inc. (TRIP) $70.81 +4.59%
Wynn Resorts Ltd. (WYNN) $155.80 +4.05%
Dish Network Corp. (DISH) $75.49 +4.00%
Netflix Inc. (NFLX) $456.92 +3.59%
Tesla Motors Inc (TSLA) $218.36 +3.52%
Analog Devices Inc. (ADI) $53.97 +3.20%
Liberty Media Corporation - Class A (LMCA) $35.61 +3.07%
Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $108.72 -2.21%
Illumina Inc. (ILMN) $193.00 -0.91%
Celgene Corp. (CELG) $117.60 -0.82%
Regeneron Pharmaceuticals Inc. (REGN) $409.79 -0.80%
Monster Beverage Corp (MNST) $116.67 -0.75%
Alexion Pharmaceuticals Inc. (ALXN) $177.51 -0.37%
Amazon.Com Inc. (AMZN) $363.55 -0.25%
F5 Networks Inc. (FFIV) $112.35 -0.23%
Baidu Inc. (BIDU) $217.16 -0.20% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: TransAsia, B'ham finance plans, Eurocell flotation Two people have been confirmed dead after a TransAsia flight crashed in Taiwan's Keelung River, wrote The Guardian. Flight GE235 had 53 passengers and five crew members on board when it came down over buildings and cars to land in the river, said the paper. Birmingham has laid out plans to become the next Canary Warf by attracting more financial businesses to the city centre, said The Telegraph.
Door and conservatory frame maker Eurocell has unveiled plans for a £200m flotation ahead of the general election in May, The Telegraph said.
Jordan has executed a failed female suicide bomber and another jihadist after one of the country's pilots was burned alive by ISIS and images were posted online, according to The Telegraph.
Seven people have been killed and more injured in New York after a Metro-North Railroad train slammed into a Jeep that got stuck at a level crossing, according to The Times.
Formula 1 gearbox technology will feature in new aerospace engines, according to The Telegraph, while jet landing gear will run on electric motors to slash fuel consumption in an effort to maintain the UK's second-top position in the world's aerospace sector.
Google and Uber are developing competing technologies that involve driverless taxis, according to The Times. Uber will challenge Google's dominance in the field by creating its own testing facility with the world's largest robotics research organisation base Carnegie Mellon University, wrote the paper.
Half of all Brits will suffer from cancer at some point in their lives, a new study has shown according to The Times. This could rise to two thirds of children today, putting more stress than ever on the NHS, the paper reported. | | |
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