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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 close: HSBC and miners lead gains UK stocks ended the session higher, tracking gains on the other side of the Atlantic despite the somewhat mixed newsflow coming out of Greece. Greek finance minister Yanis Varoufakis was urged to speed up progress on a list of economic reforms required to appease creditors in order to unlock further aid.
During a meeting of Eurozone finance ministers in Riga, Varoufakis was branded irresponsible and accused of being "a time-waster, a gambler and an amateur", according to a source cited by Bloomberg.
The FTSE 100 ended the session 17.03 points higher at 7,070.70, while the yield on the benchmark 10-year Greek bond was unchanged at 12.58%.
HSBC was the standout gainer on news that the lender was studying the possibility of transferring its headquarters to outside the UK. However, as a sector it was nminers which did best as copper prices rebounded on the back of weak inventory numbers and a softer US dollar.
On a similarly upbeat note, Germany's IFO business confidence index rose to a reading of 108.6 in April after a print of 107.9 in the month before. That was slightly ahead of the consensus estimate of 108.4.
Overnight, Societe Generale increased its forecast for the average price of Brent in the second quarter by $6.67 to $58 a barrel and for the full-year to $4.33 to reach $59.54 - as the rebalancing in the US 'tight-oil' industry begins.
HSBC and Standard Chartered lead early gains
HSBC launched an immediate review of its UK domicile due to the changing regulatory landscape, the group's chairman said in comments before the bank's general meeting. These comments were "laced with politics and carefully timed ahead of the general election", the Times noted.
A spokesman from Standard Chartered said the lender was "listening very carefully" to shareholders about if it should relocate its headquarters outside the country after the latest hike in the UK's bank levy.
After receiving some takeover interest, BAE Systems confirmed it was pondering a disposal of its US-based manpower and services businesses, which operates in the US intelligence and security sector.
Shares in publishing and education group Pearson were lower despite the company saying it was in-line to meet its full-year expectations after a solid start to the year. The firm also reiterated its full-year guidance for adjusted earnings per share of between 75p and 80p this year, up from 66.7 in 2014. However, the group's chairman announced he would be stepping down.
Astrazeneca is the worst performer on the the Footsie in the early going as sales fell by 6% in the first quarter, which was slightly less-than-expected. The pharmaceutical giant's trading was negatively impacted by the launch of a generic version of its acid pill Nexium Stateside.
Aberdeen Asset Management was downgraded by analysts at Bank of America-Merrill Lynch to 'underperform'.
First-quarter numbers from Reckitt Benckiser were better than the market expected, with like-for-like sales from the household goods behemoth up 5% thanks to strong growth from consumer health brands such as Nurofen, Gaviscon and Durex.
The state has lowered its stake in Lloyds by 1% to 20.95%, the lender told the market in a statement.
Market Movers
techMARK 3,265.77 +0.23%
FTSE 100 7,070.70 +0.24%
FTSE 250 17,729.36 +0.25% |
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| | FTSE 100 - Risers
HSBC Holdings (HSBA) 629.70p +2.86%
Glencore (GLEN) 311.20p +2.60%
CRH (CRH) 1,900.00p +2.43%
Mondi (MNDI) 1,354.00p +2.42%
BAE Systems (BA.) 515.00p +2.28%
Barratt Developments (BDEV) 541.00p +2.17%
BHP Billiton (BLT) 1,564.00p +2.12%
Taylor Wimpey (TW.) 169.20p +2.11%
National Grid (NG.) 906.10p +1.95%
United Utilities Group (UU.) 1,003.00p +1.88%
FTSE 100 - Fallers
Pearson (PSON) 1,360.00p -3.00%
Aberdeen Asset Management (ADN) 473.60p -2.85%
Randgold Resources Ltd. (RRS) 4,950.00p -1.69%
Hargreaves Lansdown (HL.) 1,181.00p -1.67%
AstraZeneca (AZN) 4,749.50p -1.67%
Weir Group (WEIR) 1,755.00p -1.57%
Admiral Group (ADM) 1,581.00p -1.25%
Royal Dutch Shell 'A' (RDSA) 2,066.00p -1.22%
St James's Place (STJ) 896.50p -1.21%
BP (BP.) 478.40p -1.19%
FTSE 250 - Risers
Kaz Minerals (KAZ) 253.40p +8.01%
Cable & Wireless Communications (CWC) 69.60p +4.43%
Diploma (DPLM) 822.50p +4.31%
Acacia Mining (ACA) 292.30p +4.21%
Just Retirement Group (JRG) 175.00p +3.73%
Vedanta Resources (VED) 631.50p +3.52%
Greencore Group (GNC) 351.50p +3.14%
JD Sports Fashion (JD.) 583.00p +2.91%
Redrow (RDW) 379.10p +2.57%
Ocado Group (OCDO) 342.20p +2.52%
FTSE 250 - Fallers
Bank of Georgia Holdings (BGEO) 1,880.00p -3.98%
Petra Diamonds Ltd.(DI) (PDL) 161.80p -3.58%
Hunting (HTG) 582.00p -3.32%
IP Group (IPO) 212.90p -3.05%
Premier Oil (PMO) 168.70p -2.93%
Pace (PIC) 436.00p -2.46%
Rotork (ROR) 2,376.00p -2.22%
Crest Nicholson Holdings (CRST) 449.30p -2.13%
Man Group (EMG) 208.70p -2.11% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Equities advance as banks and miners rally A rally in banks and mining stocks pushed European equities higher on Friday. A gauge of miners, including Glencore and Rio Tinto, gained as copper prices rose on lower inventories and a weaker dollar.
Banks were led higher by HSBC after the lender said it was considering moving its headquarters from the UK.
Laith Khalaf, senior analyst at Hargreaves Lansdown, said HSBC would benefit from paying less tax. "It would only have to pay the banking levy on its UK operations, rather than its whole global business," the analyst said.
"The rise in its stock price illustrates the effect the bank levy has on the value of the UK banking sector."
Greece urged to speed up progress
Greek finance minister Yanis Varoufakis was urged to speed up progress on a list of economic reforms required to appease creditors in order to unlock further ad.
During a meeting of Eurozone finance ministers in Riga, Varoufakis was branded irresponsible and accused of being "a time-waster, a gambler and an amateur", according to a source cited by Bloomberg.
The Eurogroup failed to make any progress on Greece during its discussions amid concerns the nation is running out of cash.
Greece owes nearly €1bn to the International Monetary Fund in May. It also has to repay €1.4bn of Treasury bills on 8 May followed by the same amount on 15 May.
The euro rose 0.39% to $1.0866.
German, US data
German business confidence improved for a sixth consecutive month in April on the back of better sentiment in the manufacturing sector, reflecting stability at a high level in the economy overall. The IFO institute's business confidence index jumped to a reading of 108.6 from 107.9 in the month before.The consensus forecast was for a print of 107.9.
US durable goods orders rose more than expected in March, driven by demand for autos, commercial jets and military hardware. Orders increased 4% last month, compared to a 1.4% drop in February and analysts' estimates for a 0.6% gain.
Companies: Renault, Astrazeneca
Renault SA gained after posting a 14% rise in quarterly sales.
Astrazeneca was lower after saying first quarter earnings fell.
Suez Environnement Co. edged up after the water company reported a 16% gain in first-quarter profit on expansion. |
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| | US Market Report | | US open: Stocks mixed as Nasdaq extends record gains US stocks fluctuated on Friday, on the back of mixed corporate earnings from the previous session, while the Nasdaq further extending its foray in record territory. Just before 15:00 in London the Dow Jones Industrial Average was down 32 points, while the S&P 500 and the Nasdaq gained two and 47 points respectively.
US stocks edged higher on Thursday as investors digested a deluge of mixed earnings and disappointing economic data, while the Nasdaq Composite closed up 0.4% to its highest ever finish at 5,056.06.
"The Nasdaq Composite's ride to new all-time highs is demonstrative of a new era in US tech company dominance within the US stock market," said Jasper Lawler, analyst at CMC Markets.
"It was no coincidence that the tech-heavy index broke its highs set at the peak of the dot-com bubble in a week when some of its core components were reporting another quarter of huge earnings growth."
In corporate news, Amazon jumped 13.8% in pre-market trading afters its quarterly results beat estimates late on Thursday, while Starbucks rose 3.4% ahead the bell on the back a 18% increase in revenue in the second quarter.
Google's quarterly earnings missed estimates but shares in the tech giant climbed 4% ahead of the opening bell, while Microsoft jumped 5.8% in pre-market as its third quarter revenue rose 5% to $12.8bn, above expectations of a $12.4bn reading.
Juniper Networks jumped 8.9% after the maker of networking gear posted better-than-expected results and guidance.
US durable goods orders rose more than expected in March, driven by demand for autos, commercial jets and military hardware.
Orders increased 4% last month, compared to a 1.4% drop in February and analysts' estimates for a 0.6% gain.
"The 4.0% month-on-month rise in durable goods orders in March was entirely due to a sharp rise in transportation orders and suggests that business investment in equipment remains weak," said Capital Economics assistant economist Adam Collins.
Elsewhere, Asian markets ended the week on a mixed note, with Hong Kong's Hang Seng rising 0.84%, while the Nikkei and the Shanghai Composite pulling back from record levels.
A better-than-expected report on German business confidence gave European stocks a boost at midday trading on Friday as the market zoomed in on Greek discussions between the Eurogroup in Riga.
The dollar fell 0.43% against the yen and declined 0.69% and 0.26% against the pound and the euro respectively, while gold futures slid 0.58% to $1,187.40. |
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| | Broker Tips | | Europe close: Equities advance as banks and miners rally A rally in banks and mining stocks pushed European equities higher on Friday. A gauge of miners, including Glencore and Rio Tinto, gained as copper prices rose on lower inventories and a weaker dollar.
Banks were led higher by HSBC after the lender said it was considering moving its headquarters from the UK.
Laith Khalaf, senior analyst at Hargreaves Lansdown, said HSBC would benefit from paying less tax. "It would only have to pay the banking levy on its UK operations, rather than its whole global business," the analyst said.
"The rise in its stock price illustrates the effect the bank levy has on the value of the UK banking sector."
Greece urged to speed up progress
Greek finance minister Yanis Varoufakis was urged to speed up progress on a list of economic reforms required to appease creditors in order to unlock further ad.
During a meeting of Eurozone finance ministers in Riga, Varoufakis was branded irresponsible and accused of being "a time-waster, a gambler and an amateur", according to a source cited by Bloomberg.
The Eurogroup failed to make any progress on Greece during its discussions amid concerns the nation is running out of cash.
Greece owes nearly €1bn to the International Monetary Fund in May. It also has to repay €1.4bn of Treasury bills on 8 May followed by the same amount on 15 May.
The euro rose 0.39% to $1.0866.
German, US data
German business confidence improved for a sixth consecutive month in April on the back of better sentiment in the manufacturing sector, reflecting stability at a high level in the economy overall. The IFO institute's business confidence index jumped to a reading of 108.6 from 107.9 in the month before.The consensus forecast was for a print of 107.9.
US durable goods orders rose more than expected in March, driven by demand for autos, commercial jets and military hardware. Orders increased 4% last month, compared to a 1.4% drop in February and analysts' estimates for a 0.6% gain.
Companies: Renault, Astrazeneca
Renault SA gained after posting a 14% rise in quarterly sales.
Astrazeneca was lower after saying first quarter earnings fell.
Suez Environnement Co. edged up after the water company reported a 16% gain in first-quarter profit on expansion. | | |
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