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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: FTSE 100 inches up on growing optimism over Greek deal London's leading FTSE 100 benchmark index posted mild gains on Friday amidst optimism re-emerging from talks between Greece's new government and EU creditors in Brussels on Thursday. The Greek government is now expected to present a full list of specific reforms in the next days after wrangling with EU leaders.
AT 0910 GMT, the London's market of 100 top blue-chip stocks rose 0.2% or 12 points at 6974, trading up near its all time highs.
Augustin Eden at Accendo Markets questioned whether there is potential for the index to test the 7000 level before the weekend. "Resistance-turned-support possible around 6980. Bulls looking for a final surge past 7000 while bears will look to another sell off before the weekend," said Eden.
A decidedly dovish Federal Reserve meeting on Wednesday together with comments by the Bank of England's chief economist over possible upcoming rate cuts injected a degree of confidence in the UK market.
Low interest rates tend to be favourable for risk assets like equities and less so for bonds. Early Friday, the UK 10-year Gilt was down 0.1% at 120.94 ticks as market participants added exposure to equities.
Meanwhile in the currency world, sterling lost steam against the US dollar on the latest comments by the BOE's chief economist, off 0.1% to change hands $1.474.
In a day of no major economic data out of the UK, the attention was on corporate news. TSB Banking Group's shares rose 1.8% after Spain's Banco de Sabadell approved the purchase of the British bank at 340p per share with major shareholder Lloyds Banking Group accepting the offer as expected.
Meanwhile, real estate giant British Land exchanged £733m worth of joint venture properties with supermarket titan Tesco and pharma group Glaxosmithkline and Italian pharma group MolMed signed a strategic collaboration agreement in gene therapy.
Housebuilder Berkeley Group reiterated its earnings guidance for the next three years to 2017 as management demonstrated their confidence in the UK housing market recovery.
Royal Dutch Shell has sold off a portion of its upstream assets in Nigeria for $737m cash to local operator Eroton Exploration & Production.
Elsewhere, shares in Gulfsands Petroleum slumped 16% to trade at 2195p after the oil and gas producer warned on finances, saying it needs $15m in new capital to fund its planned operational activities over the next 12 months. |
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| | Market Movers
techMARK 3,263.98 +0.29%
FTSE 100 6,973.73 +0.16%
FTSE 250 17,451.61 +0.08%
FTSE 100 - Risers
CRH (CRH) 1,821.00p +4.00%
Tullow Oil (TLW) 321.10p +3.71%
Sports Direct International (SPD) 661.50p +1.93%
Shire Plc (SHP) 5,705.00p +1.24%
AstraZeneca (AZN) 4,835.00p +1.03%
Sky (SKY) 1,037.00p +0.97%
Smith & Nephew (SN.) 1,162.00p +0.96%
International Consolidated Airlines Group SA (CDI) (IAG) 586.50p +0.95%
Sage Group (SGE) 485.10p +0.83%
Ashtead Group (AHT) 1,142.00p +0.79%
FTSE 100 - Fallers
Persimmon (PSN) 1,685.00p -5.23%
Anglo American (AAL) 1,030.00p -1.53%
Kingfisher (KGF) 369.40p -1.34%
Mondi (MNDI) 1,329.00p -1.26%
Glencore (GLEN) 283.35p -0.84%
Fresnillo (FRES) 673.50p -0.81%
SABMiller (SAB) 3,663.50p -0.79%
Next (NXT) 7,260.00p -0.75%
Imperial Tobacco Group (IMT) 3,133.00p -0.70%
Randgold Resources Ltd. (RRS) 4,795.00p -0.64%
FTSE 250 - Risers
Michael Page International (MPI) 549.50p +3.78%
Afren (AFR) 3.40p +2.72%
Ophir Energy (OPHR) 132.60p +2.55%
Serco Group (SRP) 174.30p +2.17%
Ted Baker (TED) 2,800.00p +1.97%
Homeserve (HSV) 359.20p +1.90%
TSB Banking Group (TSB) 333.10p +1.87%
COLT Group SA (COLT) 141.40p +1.73%
AL Noor Hospitals Group (ANH) 1,021.00p +1.69%
Just Retirement Group (JRG) 163.60p +1.68%
FTSE 250 - Fallers
Vedanta Resources (VED) 435.50p -3.59%
Acacia Mining (ACA) 243.20p -1.94%
Centamin (DI) (CEY) 52.70p -1.86%
Debenhams (DEB) 78.80p -1.81%
Tate & Lyle (TATE) 601.00p -1.80%
Riverstone Energy Limited (RSE) 1,022.00p -1.73%
Lonmin (LMI) 123.80p -1.51%
Enterprise Inns (ETI) 100.60p -1.47%
Hikma Pharmaceuticals (HIK) 2,231.00p -1.37% |
| | UK Event Calendar | | Friday 20 March
INTERIMS
CVS Group
INTERIM DIVIDEND PAYMENT DATE
Downing Three VCT C Shares, Downing Two VCT 'C' Shs, Green Reit, Rank Group, SSE
QUARTERLY PAYMENT DATE
Alpha Real Trust Ltd., Duet Real Estate Finance Ltd, Real Estate Credit Investments PCC Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Utilico Investments Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Current Account (EU) (09:00)
Producer Price Index (GER) (07:00)
FINALS
Gamma Communications, JKX Oil & Gas
ANNUAL REPORT
Cobham, Meggitt, Schroders, Schroders, Schroders (Non-Voting), Schroders (Non-Voting), Spirax-Sarco Engineering, Taylor Wimpey
IMSS
Berkeley Group Holdings (The)
AGMS
React Energy
TRADING ANNOUNCEMENTS
Investec
UK ECONOMIC ANNOUNCEMENTS
Public Sector Finances (09:30)
FINAL DIVIDEND PAYMENT DATE
Avon Rubber, easyJet, Games Workshop Group, Income & Growth VCT , Sanderson Group |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed amid Greek debt woes European stocks were little changed as Greece came no closer to clinching a deal with its creditors. On the sidelines of a summit in Brussels, European Union leaders said Greece must submit more solid reform plans in order to unlock further aid.
Greek Prime Minister Alexis Tsipra has vowed to deliver on economic reforms. He is meeting with German Chancellor Angel Merkel on Monday.
The euro was up 0.24% to $1.0686.
The Stoxx 600 index was in positive territory on Thursday after the Federal Reserve said it would not raise interest rates until the labour market improves further. The benchmark gauge is about 1% away from its all-time closing high set in March 2000 and is up 1.1% this week.
The index has gained 17% this year on hopes that the European Central Bank's quantitative easing programme, launched last week, will boost the economy.
In economic data, German producer prices fell 2.1% year-on-year in February, compared to forecasts for a 2% drop.
A report on UK public finances at 09:30 GMT will be released but it will otherwise be thin on the ground for data.
Among stocks, Lafarge and Holcim gained after agreeing a $40bn merger to form the world's biggest cement company. CRH, which agreed to buy assets in the companies, also rallied.
Tullow Oil jumped after saying it received a $450m loan increase.
TSB Banking Group advanced after Banco de Sabadell SA agreed to buy it for £1.7 bn. Sabadell also edged higher. |
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| | US Market Report | | US close: stocks retreat from Wednesday's rally US stocks mostly fell on Thursday, in decline a day after the Federal Reserve's cautious stance on interest rates prompted strong gains. At close, the Dow Jones Industrial Average was 117 points down and the S&P 500 shed 10 points. Meanwhile, the Nasdaq edged 9 points higher, after briefly trading adobe the 5,000 mark late in the afternoon.
As expected, the Fed dropped the word "patient" from its pledge about raising rates, but signalled a slower than expected increase in interest rates.
"The forward path in interest rates is going to be slower than previously expected. The market celebrated that yesterday, and now it's wondering what comes next," said Kevin Caron, market strategist at Stifel Nicolaus.
The central bank's Federal Open Market Committee slashed its forecasts for the main policy rate, gross domestic product, inflation and unemployment over the coming three years. The move to reduce the latter was considered to be especially significant by some observers, who interpreted as a reduction in the Fed's estimate of the so-called Non-accelerating inflation rate of unemployment (NAIRU).
Economic data from the Department of Labor was disappointing, with weekly unemployment claims for the week ended 19 March rising by 2,000 to reach 291,000, slightly below the forecast 293,000
The stock market was also underhwelmed by a weaker-than-anticipated figure for the Philadelphia Fed's manufacturing index.
Treasury prices dipped, lifting the 10-year yield to 1.977%, up from Wednesday's 1.945%.
In company news, biotech group Amicus Therapeutics jumped after reporting that a meeting with regulators over a treatment for Fabry disease had been successful.
Lennar Corp gained after the home builder be at expectations for earnings and revenue. Steel giant Nucor Corp. was in the red after issuing a warning about its first quarter results.
Apple shares ended flat after the tech giant made its debut as a Dow Jones Industrial Average component. The dollar resumed its climb, with the euro falling 1.6% to $1.0659, while gold futures gained 1.5% to $1169.10 an ounce.
S&P 500 - Risers
Wynn Resorts Ltd. (WYNN) $130.11 +5.85%
Urban Outfitters Inc. (URBN) $46.70 +3.55%
Vertex Pharmaceuticals Inc. (VRTX) $134.25 +3.44%
Delta Airlines Inc. (DAL) $47.26 +3.17%
Red Hat Inc. (RHT) $69.18 +3.15%
Jabil Circuit Inc. (JBL) $23.35 +3.09%
Cerner Corp. (CERN) $73.83 +3.06%
Regeneron Pharmaceuticals Inc. (REGN) $486.02 +2.95%
Facebook Inc. (FB) $82.75 +2.27%
Intercontinental Exchange Inc (ICE) $236.71 +2.26%
S&P 500 - Fallers
Visa Inc. (V) $66.81 -75.04%
Transocean Ltd. (RIG) $14.16 -7.15%
United States Steel Corp. (X) $22.13 -7.13%
Nucor Corp. (NUE) $46.10 -6.43%
Southwestern Energy Co. (SWN) $22.27 -5.87%
Denbury Resources Inc. (DNR) $7.50 -5.66%
Peabody Energy Corp. (BTU) $5.74 -5.59%
Freeport-McMoRan Inc (FCX) $17.26 -5.32%
Noble Corporation plc (NE) $13.55 -5.31%
Murphy Oil Corp. (MUR) $46.82 -5.01%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $58.21 +0.97%
Nike Inc. (NKE) $98.32 +0.83%
Unitedhealth Group Inc. (UNH) $120.76 +0.67%
Cisco Systems Inc. (CSCO) $28.26 +0.39%
Johnson & Johnson (JNJ) $101.69 +0.23%
International Business Machines Corp. (IBM) $159.81 +0.00%
Dow Jones I.A - Fallers
Visa Inc. (V) $66.81 -75.04%
E.I. du Pont de Nemours and Co. (DD) $74.51 -1.97%
Exxon Mobil Corp. (XOM) $84.41 -1.93%
Chevron Corp. (CVX) $104.75 -1.83%
Caterpillar Inc. (CAT) $80.09 -1.52%
Coca-Cola Co. (KO) $40.02 -1.43%
Wal-Mart Stores Inc. (WMT) $81.52 -1.22%
Goldman Sachs Group Inc. (GS) $189.97 -1.22%
General Electric Co. (GE) $25.33 -1.21%
AT&T Inc. (T) $33.20 -1.16%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $130.11 +5.85%
Vertex Pharmaceuticals Inc. (VRTX) $134.25 +3.44%
Cerner Corp. (CERN) $73.83 +3.06%
Regeneron Pharmaceuticals Inc. (REGN) $486.02 +2.95%
Illumina Inc. (ILMN) $199.81 +2.42%
Facebook Inc. (FB) $82.75 +2.27%
Sandisk Corp. (SNDK) $84.72 +2.20%
Celgene Corp. (CELG) $125.33 +2.16%
Starbucks Corp. (SBUX) $97.76 +2.00%
Baidu Inc. (BIDU) $214.57 +1.72%
Nasdaq 100 - Fallers
Vimpelcom Ltd Ads (VIP) $5.26 -5.05%
Tesla Motors Inc (TSLA) $195.65 -2.52%
Activision Blizzard Inc. (ATVI) $23.15 -1.82%
PACCAR Inc. (PCAR) $62.59 -1.80%
Catamaran Corp (CTRX) $48.91 -1.79%
Staples Inc. (SPLS) $16.06 -1.62%
NetApp Inc. (NTAP) $36.70 -1.61%
Mylan Inc. (MYL) $63.94 -1.57%
Twenty-First Century Fox Inc Class A (FOXA) $34.46 -1.32% |
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| | Newspaper Round Up | | Friday newspaper round-up: Greek talks, Holcim-Lafarge, Ryanair turnaround Greek prime minister Alexis Tsipras has agreed to speed up the process of economic reform but was unable to secure short-term financing for Greece during his meeting with Germany and France, reported the Financial Times. French cement company Lafarge SA agreed on new terms with its $44bn merger with Swiss competitor Holcim late on Thursday, according to The Wall Street Journal, spelling good news for CRH, which had agreed to buy assets as a result of the deal.
Ryanair has been forced to admit it won't be considering transatlantic flights three days after a spokesman claimed flights would be available for €10, wrote The Telegraph.
Iran, the US and Europe have stalled discussions on whether UN sanctions on Tehran should be lifted as the deadline for a nuclear agreement draws closer, according to The Wall Street Journal.
Washington has unveiled plans to "re-evaluate" its alliance with Israel at the United Nations after Binyamin Netanyahu was controversially re-elected, according to The Times.
The Institute of Fiscal Studies has demanded that chancellor George Osborne specify how he plans to slash welfare spending by £12bn when coalition benefit changes have devastated the poor most of all in the last five years, The Guardian reported.
Mobile phone users are being forced to pay up to £800 if they want to break a contract with their network provider, even if they cite poor coverage or lack of 4G, wrote The Times. | | |
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