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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 pulls back from record on Greek fears UK stocks pulled back slightly from a record high on Monday morning as investors used developments in Greece as an excuse to take profits.
The FTSE 100 was down 0.3% at 6,999.91 in morning trade, pulling back after setting a new all-time closing high of 7,022.51 on Friday.
As Germany's Angela Merkel and Greece's Alexis Tspiras meets in Berlin later on Monday afternoon, Athens has said it will be "impossible" to pay all its debt obligations by the end of April unless the EU distributes short-term aid.
"The looming risk on the horizon once again in Greece, where the pressure once again is on as the Greek PM has been meeting with Eurozone officials and the German Chancellor," said economist Simon Smith from FxPro.
Analyst James Hughes from Etoro said traders across Europe are unsure of the next directional move on the markets, with both the Germany Dax and UK Footsie at all-time highs, and a correction (especially in Frankfurt) "could be just around the corner".
"If anything is likely to burst the European equity market bubble it would definitely be a negative outcome in Greece, as yet again the Greeks hold the power of financial market stability in their hands," he said.
Centamin jumps despite profit plunge
Profits at gold miner Centamin more than halved in 2014 as higher production was offset by increased output costs and lower commodity prices. However, the stock surged after the company's dividend equalled 30% of free cash flow, at the top end of guidance.
Dairy Crest fell after the proposed sale of its dairies operations to Miller was referred to the Competition and Markets Authority.
Firstgroup jumped after making a deal with the Department for Transport to operate the First Great Western rail franchise until 1 April, 2019.
Standard Chartered was a high riser after JPMorgan Cazenove upgraded the bank to 'overweight' and hiked its target for the shares from 1,050p to 1,250p.
Engineer Weir was lower after RBC Capital Markets downgraded the stock to 'sector performer' and slashed its target from 2,150p to 1,850p |
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| | Market Movers
techMARK 3,246.65 -0.49%
FTSE 100 6,999.91 -0.32%
FTSE 250 17,512.97 -0.14%
FTSE 100 - Risers
Standard Chartered (STAN) 1,109.50p +3.55%
3i Group (III) 503.50p +1.37%
Admiral Group (ADM) 1,554.00p +0.84%
Intu Properties (INTU) 357.90p +0.76%
Barclays (BARC) 257.00p +0.67%
Royal Dutch Shell 'A' (RDSA) 2,076.50p +0.61%
Royal Dutch Shell 'B' (RDSB) 2,183.00p +0.55%
Centrica (CNA) 257.00p +0.47%
Royal Mail (RMG) 448.30p +0.43%
United Utilities Group (UU.) 953.00p +0.42%
FTSE 100 - Fallers
Meggitt (MGGT) 559.00p -2.70%
Weir Group (WEIR) 1,801.00p -2.17%
Hikma Pharmaceuticals (HIK) 2,139.00p -2.11%
Burberry Group (BRBY) 1,839.00p -1.97%
Carnival (CCL) 3,139.00p -1.94%
Shire Plc (SHP) 5,590.00p -1.67%
Standard Life (SL.) 478.60p -1.64%
Next (NXT) 7,165.00p -1.51%
Mondi (MNDI) 1,328.00p -1.48%
Fresnillo (FRES) 697.50p -1.27%
FTSE 250 - Risers
Centamin (DI) (CEY) 60.10p +11.81%
FirstGroup (FGP) 97.45p +2.52%
SIG (SHI) 204.90p +2.25%
SVG Capital (SVI) 515.50p +2.08%
Enterprise Inns (ETI) 103.00p +1.98%
Entertainment One Limited (ETO) 311.50p +1.96%
Cairn Energy (CNE) 161.00p +1.96%
Tullett Prebon (TLPR) 391.60p +1.95%
Diploma (DPLM) 866.00p +1.88%
AL Noor Hospitals Group (ANH) 1,079.00p +1.79%
FTSE 250 - Fallers
Infinis Energy (INFI) 186.50p -3.87%
Premier Oil (PMO) 145.10p -3.01%
Lonmin (LMI) 130.90p -2.53%
Serco Group (SRP) 176.30p -2.06%
Balfour Beatty (BBY) 230.20p -2.04%
Imagination Technologies Group (IMG) 218.00p -2.02%
Ocado Group (OCDO) 366.50p -1.93%
Saga (SAGA) 178.00p -1.93%
Indivior (INDV) 196.60p -1.90% |
| | UK Event Calendar | | Monday 23 March
INTERIMS
Finsbury Food Group, Nanoco Group, YouGov
INTERIM DIVIDEND PAYMENT DATE
Heath (Samuel) & Sons
QUARTERLY EX-DIVIDEND DATE
Total SA
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Existing Home Sales (US) (14:00)
GMS
Blackstar Group SE (DI), Mid Wynd International Inv Trust
FINALS
Akers Biosciences, Inc. , CityFibre Infrastructure Holdings , Fevertree Drinks, GVC Holdings, HydroDec Group, MD Medical Group Investments GDR (Reg S), Michelmersh Brick Holdings, Pittards, SpaceandPeople, Telit Communications
ANNUAL REPORT
Afarak Group (DI), HaloSource Inc. (Reg S), Jardine Lloyd Thompson Group, One Media IP Group, One Media IP Group
EGMS
Management Resources Solutions
AGMS
Arab Insurance Group GDR
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
FINAL DIVIDEND PAYMENT DATE
Brewin Dolphin Holdings
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks decline ahead of meeting between Merkel and Tsipras European stocks declined on Monday, as markets began the week on a circumspect note after ending the previous sessions with sharp gains.
Investors will closely monitor the outcome of a meeting between Greek prime minister Alexis Tsipras and German chancellor Angela Merkel in Berlin, with the two expected to discuss the Greek debt crisis, and more importantly, try and rebuild the bruised and breaking relationship between the two nations.
Tsipras has already stated that Greece's debt will be "impossible" to pay without help, meaning a positive outcome from the meeting is far from guaranteed.
The DAX slipped 113 points, while France's CAC fell 30 points as investors appeared unimpressed by a local election victory for Sarkozy's UMP, with Le Pen's National Front in second and Hollande's PS an embarrassing, if expected, third.
On Monday afternoon, the European Central Bank president Mario Draghi will hold a speech during which he is largely expected to promote the stirrings of Eurozone recovery since quantitative easing began.
In company news, Pirelli rose 2.50% after China National Chemical Corp agreed to buy the tyre maker for €7.1bn (£5.16bn)
Christian Dior fell 3% after being downgraded by analysts at JP Morgan, while LVMH Moet Hennessy Louis Vuitton dropped 2.90% and Deutsche Bank gained 2.41%. |
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| | US Market Report | | US close: Stocks resume post-Fed rally, Nasdaq tops 5,000 US stock markets marched higher on Friday after a brief drop the previous session, finishing the week on a strong note by continuing the post-Federal Reserve rally that started on Wednesday.
The Dow finished 0.94% higher at 18,128, the S&P 500 rose 0.90% to 2,108, ending the week up 2.1% and 2.7% respectively.
Meanwhile the Nasdaq gained 0.67% to 5,026, finishing with a 3.2% rise on the week and settling at its highest close in 15 years.
While the Fed is still predicted to start hiking interest rates in June - its first policy tightening move since 2006 - commentary was relatively dovish in tone after chair Janet Yellen said rates would rise more slowly than previously anticipated.
As expected, policymakers dropped the term 'patient' from their forward guidance about raising rates in a unanimous vote.
Also helping sentiment on the market was positive newsflow on Greece. A joint statement by Greece and their EU counterparts said the country will submit a "full list of specific reforms" in the next few days and the Greek prime minister, Alexis Tsipras, said he was optimistic the EU will work to restore funding as soon as possible.
In company news, Biogen Idec jumped 10% after the biotechnology group said trials on its new Alzheimer cure had returned positive results, while sector peer Prothena soared 32% after announcing positive results overnight for its Parkinson's disease study.
Sports apparel giant Nike rose 4% after reporting third quarter earnings that beat Wall Street's expectations, while Amazon rose over 1% after receiving an official approval to test-fly its drones.
Darden Restaurants edged forward 1.3% after the restaurant chain owner reported better-than expected earnings.
Going the other way, jewellery group Tiffany & Co dropped almost 4% on the back of a small drop in sales.
S&P 500 - Risers
Biogen Idec Inc. (BIIB) $475.98 +9.76%
Peabody Energy Corp. (BTU) $6.14 +6.97%
Freeport-McMoRan Inc (FCX) $18.41 +6.66%
Transocean Ltd. (RIG) $14.99 +5.86%
Avon Products Inc. (AVP) $7.63 +4.81%
United States Steel Corp. (X) $23.18 +4.74%
Vornado Realty Trust (VNO) $113.44 +4.03%
National Oilwell Varco Inc. (NOV) $49.71 +3.80%
Nike Inc. (NKE) $101.98 +3.72%
Range Resources Corp. (RRC) $49.36 +3.59%
S&P 500 - Fallers
Airgas Inc. (ARG) $107.30 -5.05%
Macerich Co (MAC) $89.24 -4.56%
Tiffany & Co. (TIF) $82.93 -3.98%
Vertex Pharmaceuticals Inc. (VRTX) $131.00 -2.42%
Best Buy Co. Inc. (BBY) $40.79 -1.95%
Salesforce.Com Inc. (CRM) $67.69 -1.73%
Cintas Corp. (CTAS) $82.55 -1.68%
Rowan Companies plc (RDC) $18.61 -1.61%
Tenet Healthcare Corp. (THC) $49.62 -1.49%
Edwards Lifesciences Corp. (EW) $146.77 -1.46%
Dow Jones I.A - Risers
Nike Inc. (NKE) $101.98 +3.72%
Chevron Corp. (CVX) $107.03 +2.18%
Wal-Mart Stores Inc. (WMT) $83.24 +2.11%
Home Depot Inc. (HD) $117.49 +2.02%
International Business Machines Corp. (IBM) $162.88 +1.92%
Intel Corp. (INTC) $31.31 +1.85%
Goldman Sachs Group Inc. (GS) $193.13 +1.66%
Procter & Gamble Co. (PG) $84.74 +1.63%
Coca-Cola Co. (KO) $40.65 +1.57%
American Express Co. (AXP) $82.70 +1.42%
Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $119.14 -1.34%
E.I. du Pont de Nemours and Co. (DD) $74.34 -0.23%
Nasdaq 100 - Risers
Biogen Idec Inc. (BIIB) $475.98 +9.76%
TripAdvisor Inc. (TRIP) $86.35 +3.04%
Garmin Ltd. (GRMN) $49.49 +2.80%
Sandisk Corp. (SNDK) $87.07 +2.77%
Nxp Semiconductors Nv (NXPI) $108.03 +2.57%
Celgene Corp. (CELG) $128.50 +2.53%
Broadcom Corp. (BRCM) $46.00 +2.50%
Vodafone Group Plc ADS (VOD) $33.96 +2.44%
Twenty-First Century Fox Inc Class A (FOXA) $35.30 +2.44%
Micron Technology Inc. (MU) $28.68 +2.25%
Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $131.00 -2.42%
Illumina Inc. (ILMN) $196.02 -1.90%
Mylan Inc. (MYL) $63.06 -1.38%
Dish Network Corp. (DISH) $73.41 -1.30%
Apple Inc. (AAPL) $125.90 -1.25%
Bed Bath & Beyond Inc. (BBBY) $74.87 -0.98%
Baidu Inc. (BIDU) $212.69 -0.88%
Alexion Pharmaceuticals Inc. (ALXN) $187.71 -0.72%
Monster Beverage Corp (MNST) $137.52 -0.55% |
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| | Newspaper Round Up | | Monday newspaper round-up: Russia nuclear threat, UK trains Syrian troops, Greece warning Russia has threatened Denmark with a nuclear strike if it partakes in Nato's missile shield, the Financial Times reported.
The UK will train Syrian troops in the war against ISIS but will draw the line at aiding airstrikes against the group in Syria, according to The Wall Street Journal.
Greek prime minister Alexis Tsipras has warned German chancellor Angela Merkel that Athens will not be able to service debt obligations unless the US distributes short-term financial aid, according to the Financial Times.
The militant group in control of Yemen's capital has attacked a major city in an effort to extend its reach across the country, forcing the US to halt military operations inside the nation, wrote The Wall Street Journal.
Reaching an new high in cash terms, the average UK household will be £10,000 in debt by the end of 2016, wrote The Guardian.
An EU exist would cost Britain £55bn each year, or 2.2% of its GDP, unless borders remain open for free trade, according to The Telegraph. | | |
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