| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Stocks edge higher on positive Greek news London equities ended in the blue after news broke that Greek Prime Minister Alexis Tsipras had "clipped the wings" of his bellicose finance minister, Yanis Varoufakis.
Euclid Tsakalatos, Greece's deputy foreign minister, was appointed as co-ordinator of the team charged with negotiating the Mediterranean country's second bailout.
As of 17:20 the yield on 10-year Greek government bonds was 22 basis points lower at 11.84%.
On Sunday, Greek prime minister Alexis Tsipras held a phone meeting with German chancellor Angela Merkel and Eurogroup President Jeroen Dijsselbloem to discuss the progress of debt negotiations.
Greek officials were scheduled to hold a teleconference with officials in Brussels on Monday, before Wednesday's face-to-face meeting.
Sentiment in London was boosted mid-morning as UK manufacturing survey data pointed to decent domestic demand, although not as strong as had been hoped.
While overall orders in the CBI's Industrial Trends Survey were being held back as the strength of sterling held back overseas orders, the monthly manufacturing survey found foreign demand rebounded in April after a slump in March.
"The outlook for manufacturers seems pretty healthy on the domestic demand front, especially for consumer goods," said Howard Archer at IHS.
Paul Hollingsworth at Capital Economics said the data "provides some reasons to be optimistic that tomorrow's GDP figures, which look set to show that manufacturing output stagnated in Q1, do not herald the beginning of a prolonged period of weakness for the sector".
StanChart leads gains ahead of IMS
Leading the risers on the blue chip index was Standard Chartered. Ahead of the lender's IMS, on Tuesday, analysts at Bank of America Merrill Lynch reiterated their 'buy' stance and 1,150p target on the shares. "We believe it can return to a 12%+ ROE with mid-single digit annual growth, supporting a return of the shares to a book multiple as much as 50% above current levels," the analysts said.
HSBC was right being in second spot as reports emerged that it may spin-off its UK high street banking business.
Shares in Tullow Oil were retreating from early gains on weekend reports that the International Tribunal for the Law of the Seas ruled in its favour, allowing the outfit to continue with its exploration activities off-shore Ivory Coast.
Diageo was down slightly after 54.78%-owned Indian arm United Spirits (USL) has led it to demand the resignation of the business's chairman Vijay Mallya, though the 'liquor King of India' has refused. The internal inquiry, led by Pricewaterhousecoopers, conducted into loans given by USL to numerous Mallya's group companies found "various improprieties and legal violations", leading to the board of USL stating on Saturday that it had lost confidence in Mallya continuing in his role as a director.
Shares in British Gas owner Centrica were up 1% as trading was revealed to be in line with the guidance provided at the time of its 2014 results in February, with improved year-on-year profitability downstream expected to be more than offset by the impact of lower commodity prices on the upstream business. Commenting on the results analysts said the fact there is no further negative surprise is probably a bit reassuring. |
| | Wealth creation through asset backed investments... | | Take an alternative approach to investing with our latest high fixed return investment opportunity
No annual fees, flexible investment periods and income paid quarterly Click here to find out more! |
| | Market Movers
techMARK 3,267.78 +0.06%
FTSE 100 7,103.98 +0.47%
FTSE 250 17,784.67 +0.31% FTSE 100 - Risers
Standard Chartered (STAN) 1,115.50p +4.25%
HSBC Holdings (HSBA) 649.30p +3.11%
Hargreaves Lansdown (HL.) 1,215.00p +2.88%
Prudential (PRU) 1,668.50p +2.24%
International Consolidated Airlines Group SA (CDI) (IAG) 584.50p +2.19%
Sports Direct International (SPD) 625.50p +2.04%
Anglo American (AAL) 1,103.50p +1.99%
Whitbread (WTB) 5,440.00p +1.97%
GlaxoSmithKline (GSK) 1,562.00p +1.79%
Antofagasta (ANTO) 807.50p +1.76%
FTSE 100 - Fallers
Aggreko (AGK) 1,640.00p -1.91%
Tesco (TSCO) 220.80p -1.78%
United Utilities Group (UU.) 989.50p -1.35%
Smith & Nephew (SN.) 1,168.00p -1.35%
Severn Trent (SVT) 2,170.00p -1.27%
Marks & Spencer Group (MKS) 547.50p -1.26%
SSE (SSE) 1,588.00p -1.06%
AstraZeneca (AZN) 4,705.50p -0.93%
Shire Plc (SHP) 5,570.00p -0.80%
Sainsbury (J) (SBRY) 266.00p -0.78%
FTSE 250 - Risers
Supergroup (SGP) 991.00p +4.92%
Vedanta Resources (VED) 654.00p +3.56%
Ocado Group (OCDO) 353.00p +3.16%
AA (AA.) 429.40p +3.12%
Balfour Beatty (BBY) 248.80p +3.07%
UBM (UBM) 563.00p +2.74%
IMI (IMI) 1,257.00p +2.70%
Premier Oil (PMO) 173.00p +2.55%
Ashmore Group (ASHM) 312.30p +2.29%
Hunting (HTG) 595.00p +2.23%
FTSE 250 - Fallers
Just Retirement Group (JRG) 169.90p -2.91%
Imagination Technologies Group (IMG) 205.20p -2.47%
Workspace Group (WKP) 841.00p -2.38%
Telecom Plus (TEP) 794.00p -2.16%
Saga (SAGA) 186.00p -2.11%
Paragon Group Of Companies (PAG) 428.20p -2.04%
Acacia Mining (ACA) 286.50p -1.98%
Polymetal International (POLY) 541.00p -1.90%
Tullow Oil (TLW) 410.30p -1.84% |
| | FCA regulated advice in FX, Gold and Silver | | Beta 2 is proud to offer personalised FCA regulated advice, completely tailored to your requirements. Attempting to yield returns in any climate, this is exclusive to ADVFN users! Click here to learn more! |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Equities rebound on Greek optimism European equities rebounded after the Greek government reshuffled its negotiating team.
Greece is creating a new team under junior foreign minister Euclid Tsakalotos, a 55-year-old economics professor, to help tackle talks with international creditors.
Markets welcomed the news with equities turning around from an earlier slump after Eurozone finance ministers on Friday said they will not release further financial aid to Greece until the nation meets the terms of its bailout.
The move was widely seen as an effort to sideline embattled finance minister Yanis Varoufakis who has been criticised for his lack of progress on a debt deal.
"If the Syriza-led government of Alexis Tsipras want to progress in negotiations and avoid default, it's probably the right move to put its finance minister on the proverbial chopping block," said Jasper Lawler, market analyst at CMC Markets UK.
"After three months of attempting to reach a better deal for Greece and roll back austerity, Mr Varoufakis has only succeeded in frustrating creditors."
The euro rose 0.16% to $1.0890.
The European Central Bank has purchased a total of €85.01bn in government bonds since it launched the programme in early March, compared to €73.29bn last week.
Most economists expect the QE programme to end in September 2016, as indicated by the ECB, a Bloomberg News survey of 45 economists conducted 16-23 April showed.
A separate report showed German imports fell 1.4% in March compared to a year ago, less than the 2% drop expected by analysts.
Deutsche falls after slashing investment bank assets
Deutsche Bank declined after cutting €200bn in investment bank assets and exiting a tenth of the countries in which it operates as part of a restructuring programme to reduce risk and lift earnings. The bank also scrapped its profitability target for next year and set an easier-to-reach goal in the medium term.
HSBC Holdings rallied following reports it's considering spinning off its UK retail bank for about £20bn.
Cap Gemini A advanced after agreeing to buy Igate Corp for $4bn in cash.
Volkswagen AG gained after Chairman Ferdinand Piech resigned from the German carmaker.
Sandvik AB jumped after the Swedish industrial group said currency effects will add about 900m kronor to profit in the second quarter. |
| | Free Expert Signals & Exclusive Bonus | | It’s common knowledge that successful trading requires being connected to professional analysts. Sunbird FX is excited to offer you FREE market signals today with your registration, and exclusively for ADVFN users an added 30% start up bonus Click here to get started! |
| | US Market Report | | US open: Stocks edge higher ahead of Apple earnings US stocks edged higher on Monday, as investors awaited Apple's quarterly results.
Just after 15:00 in London, the Dow Jones Industrial Average was up 63 points, while the S&P 500 and the Nasdaq gained six and 19 points respectively.
On Friday, the S&P 500 and the Nasdaq Composite notched all-time highs on the back of better than-expected earnings and the focus will be on corporates again on Monday, with Apple set to publish its results after the closing bell.
The California-based giant is expected to report another quarter of strong profit and sales growth, with its results likely to set the tone for the rest of the week.
"As encouraged as Apple investors will be that a new product has been added to the range, the lingering feeling of underachievement continues with the excessive stockpiling of cash," said Alastair McCaig, market analyst at IG.
UBS expects the Apple Watch to be about a third as popular as the iPad and half as popular as the iPhone at launch. Nevertheless it forecasts sales of 36m units in the first year and 40m in 2016, with the success of the iPhone 6 key to an expected near-24% rise in quarterly revenues to $56.5bn, a possible dividend hike and maybe even a share repurchase scheme.
The economic calendar will begin the week on a relatively quiet note, before heating up on Wednesday, with the release of a preliminary reading on first-quarter gross domestic product and the conclusion of the Federal Open Market Committee's two-day meeting.
"The relatively hawkish comments by FOMC members following the decision to remove the word 'patience' from the statement have not stacked up against a spate of poor economic data, notably a slowdown in hiring," said CMC Markets analyst Jasper Lawler.
"This discrepancy is creating hope that the Fed will opt to tighten policy later, explaining the stock market push to near record highs."
Business activity in the US service sector remained steady throughout April, data released on Monday showed.
The seasonally adjusted Markit Flash US Services PMI business activity index declined from 59.2 to 57.8 in April, but remained well above the 50.0 threshold.
Meanwhile, the seasonally adjusted Markit Flash US composite PMI output index declined 59.2 to 57.4 in April, but remained well above the post-crisis average of 55.9.
The latest figures pointed towards the sharpest increase in US private sector payroll number since June 2014, driven by a solid job creation this month
Away from the earnings season, IT group iGate rose 3.51% after French computer services and tech group Capgemini said it would acquire the group for $4bn.
Marvell Technology Group declined 0.52%, after announcing on Friday that revenue will be lower than expected/
Deutsche Bank saw its New York-listed shares fall 4.46% after it revealed plans to scale down on investment banking.
Oil prices were mixed, with West Texas Intermediate gaining 0.85% to $57.64 a barrel, while Brent shed less than 0.1% to $65.23 a barrel. |
| | Apply with ETX Capital | | Receive a welcome bonus on your first deposit up to 60% (T&C’s apply) Losses can exceed deposits |
| | Broker Tips | | There are no Broker Tips today, apologies for any inconvenience caused. | | |
New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds,
Sipps Travel and Cars - FREE and Easy service CLICK HERE
To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk |
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment