| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks inch higher ahead of data, but Greek worries persist After an initial drop, London's Footsie bounced into positive territory on Tuesday morning, though gains were only modest as investors awaited key economic data and reacted to uncertainty in Greece.
Reports that Athens is preparing for a debt default if it can't reach a deal with its creditors were likely limiting upside for markets, especially with stocks already trading near record highs.
The FTSE 100 was up 0.17% at 7,076.44 after the opening hour.
The index had fallen to 7,064.30 the previous session as it pulled back from the all-time closing high of 7,089.77 reached on Friday.
The UK consumer price index is due for release at 09:30 and is expected to remain unchanged at zero in March, though some analysts predict Britain could fall into deflation for the first time since 1960.
"It wouldn't surprise at all to see -0.1% given the way food prices have continued to fall as the discount supermarkets continue to push prices lower, while the recent 5% price cuts by British Gas are likely to feed into energy bills for March," said analyst Michael Hewson from CMC Markets.
Meanwhile, US retail sales at 13:30 are forecast to have risen by 1% in March after a 0.6% decline in February.
Greece on Monday evening denied a report in the Financial Times that cited a government official as saying that there is "no alternative" to a default if Athens does not reach a deal with its lenders. The paper said Greece was withholding €2.5bn of payments due to the International Monetary Fund in May and June if no agreement is made.
"Greece, is not preparing for any debt default and the same goes for its lenders. Negotiations are proceeding swiftly towards a mutually beneficial solution," the office of prime minister Alexis Tsipras said in a statement.
Tullow Oil jumps on upgrade, miners rebound
Tullow Oil's share price surged early on after Citigroup raised its rating on the stock from 'neutral' to 'buy', saying that the oil group's portfolio quality was "under-valued" by the market.
Mining stocks were putting in a decent performance, rebounding after heavy losses on Monday when a number of investment banks shaved their price targets for iron ore over the coming years. BHP Billiton, Rio Tinto, Glencore and Anglo American were all in demand.
Also higher was Poundland after a trading update showed the discount retailer had topped a billion pounds of annual sales for the first time with revenue in final quarter excluding the Spanish business up 6.5%.
Mark Hodges, the former board member and head of UK operations at Aviva, has been named as the new managing director at British Gas, causing shares in owner Centrica to rise.
British Land gained after buying the One Sheldon Square building for £210m to extend its Paddington Central development in London.
Energy services company Wood Group gained after securing a new five-year contract with UK exploration and production outfit Enquest in the North Sea.
UK hospital operator Spire Healthcare dropped sharply after private equity group Cinven sold down its stake to 38.3% with a £136m share sale. Cinven sold 40.1m shares at 340p each, compared with Monday's closing price of 367p. |
| | PROVEN Trading Strategy - Currently running at 70% success rate | | Earn a tax free income trading, from just 20 minutes a day – no experience needed. Our powerful trading software will help you decide when to enter trades and how to maximise profits.
Register for a FREE brochure and trading guide, Click Here. |
| Market Movers
techMARK 3,259.67 -0.04%
FTSE 100 7,076.44 +0.17%
FTSE 250 17,847.03 +0.10%
FTSE 100 - Risers
BHP Billiton (BLT) 1,439.00p +1.62%
Barclays (BARC) 263.60p +1.60%
Glencore (GLEN) 289.20p +1.42%
Rio Tinto (RIO) 2,851.50p +1.33%
Anglo American (AAL) 1,010.50p +1.18%
Royal Bank of Scotland Group (RBS) 357.00p +1.08%
Aggreko (AGK) 1,590.00p +1.02%
ARM Holdings (ARM) 1,174.00p +0.95%
Aviva (AV.) 566.00p +0.80%
Royal Dutch Shell 'B' (RDSB) 2,080.50p +0.73%
FTSE 100 - Fallers
Aberdeen Asset Management (ADN) 495.60p -2.15%
Shire Plc (SHP) 5,580.00p -1.76%
Associated British Foods (ABF) 2,953.00p -1.24%
Barratt Developments (BDEV) 547.00p -1.00%
Admiral Group (ADM) 1,579.00p -0.82%
SABMiller (SAB) 3,608.50p -0.74%
Pearson (PSON) 1,434.00p -0.62%
Hargreaves Lansdown (HL.) 1,230.00p -0.57%
BAE Systems (BA.) 533.50p -0.56%
G4S (GFS) 304.70p -0.55%
FTSE 250 - Risers
Tullow Oil (TLW) 359.20p +5.80%
Hunting (HTG) 574.00p +3.24%
Premier Oil (PMO) 160.10p +3.09%
Enterprise Inns (ETI) 113.80p +2.99%
Vedanta Resources (VED) 532.00p +2.80%
Poundland Group (PLND) 340.00p +2.41%
Indivior (INDV) 224.90p +2.27%
Ophir Energy (OPHR) 163.20p +1.75%
Drax Group (DRX) 414.90p +1.69%
Kaz Minerals (KAZ) 223.40p +1.68%
FTSE 250 - Fallers
Spire Healthcare Group (SPI) 335.70p -8.55%
AL Noor Hospitals Group (ANH) 921.50p -7.15%
Card Factory (CARD) 311.10p -2.84%
Allied Minds (ALM) 713.50p -1.59%
Fidelity China Special Situations (FCSS) 167.20p -1.53%
Home Retail Group (HOME) 172.20p -1.26%
Brewin Dolphin Holdings (BRW) 318.10p -1.24%
Nostrum Oil & Gas (NOG) 601.50p -1.23%
NMC Health (NMC) 683.00p -1.16% |
| | UK Event Calendar | | Tuesday 14 April
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Industrial Production (EU) (10:00)
Manufacturing Inventories (US) (15:00)
Producer Price Index (US) (13:30)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (15:00)
GMS
Ultrasis
FINALS
Corac Group, Flowtech Fluidpower, Horizon Discovery Group, Keywords Studios, M. P. Evans Group, Manx Telecom
ANNUAL REPORT
Next, UTV Media
IMSS
Michael Page International
AGMS
Law Debenture Corp., Porvair, Tiszai Chemical Group GDR (Reg S), Ultrasis
TRADING ANNOUNCEMENTS
Michael Page International, Poundland Group
UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)
Consumer Price Index (09:30)
Retail Price Index (09:30)
Q1
Etalon Group Ltd GDR (Reg S) |
| | Access property investments usually reserved for the largest investors | | Cogress is a property investment firm that give qualified investors access to unique real estate investments. Past investments made by our management team showed an average of 22.7% returns annually. Receive our FREE Investment Pack. |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Equities held back by Greek debt default reports
The euro edged down 0.18% to $1.0548 in morning trade.
In the UK at 09:30 BST, inflation data is expected to show consumer prices remained at zero in March compared to a year ago, matching the lowest level since estimates of the measure began in 1968.
Some economists say CPI may drop 0.1%, entering deflation for the first time in more than half a century, amid a slump in energy prices and a supermarket price war.
However, economists argued deflation would not necessarily hurt the economy. "It has been driven by a drop in energy and food prices that is helpful for the economy," said Capital Economics. "And there is still no evidence of more fundamental deflationary pressure."
Back in the Eurozone, a report on industrial production at 10:00 BST is forecast to reveal a 0.8% year-on-year rise in February.
Stateside will later see the release of retail sales figures, an important indicator of consumer spending. Analysts estimate a 1% year-on-year increase in March compared to the previous month's 0.6% fall, as consumers benefit from low inflation.
Energy stocks rally
A gauge of energy companies on the Stoxx 600 gained as oil rose for a fourth day after the US government predicted that the shale boom would start to ease. Brent crude increased 0.8% to $58.40 per barrel at 09:00 BST, according to the ICE.
Kuehne & Nagel International AG slipped as the world's biggest sea-freight forwarder reported first quarter earnings that were unchanged from a year earlier due to a stronger Swiss franc. |
| | Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. | | You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit.
|
| | US Market Report | | US close: Dow down 80 points on disappointing Chinese data US stocks edged lower on Monday, as investors digested disappointing Chinese trade data and remained jittery as the earnings season was set to begin in its earnest.
The Dow Jones Industrial Average closed down 80.61 points down to 17,977.04, while the S&P 500 and the Nasdaq closed fell 9.62 and 12.81 points respectively.
The Chinese trade surplus fell to $3.08bn in March from $60.62bn the previous month, compared to analysts' estimates of $40.20bn.
Exports declined by 15% in March, below predictions for a 10% gain and following a 48.3% jump in February. Imports dropped 12.7% last month after a 20.5% slide in February, more than the 10% fall expected.
The General Administration of Customs said the decline was due to weak external demand, the slowdown in China's economic growth and the fall in international commodity prices.
The earnings season, which began last week, clicks into gear on Tuesday with JP Morgan Chase & Co, Wells Fargo & Co and Johnson & Johnson due to report before the bell.
"The market reaction to the earnings season is typically a reflection of results versus expectations," said Jasper Lawler, analyst at CMC Markets.
"Expectations have taken a beating leading into the first quarter reporting but this may be a good thing."
However, Lawler added that lowered corporate expectations meant the market had a better chance to negotiate a potentially difficult earnings season.
"Corporations have proven very adept at lowering guidance in order to beat it," he said.
"Even if average income does decline amongst top US companies, if lowered expectations are beaten, the market might come through the next couple of months unscathed."
The US federal government posted a monthly budget deficit of $52.9bn in March, wider than expectations calling for a $44bn and about $16bn higher than 12 months ago.
Receipts totaled $234.2bn during the month, up 8.5% year-on-year, while total spending climbed 13.6% year-on-year, to $287.1bn.
In company news, Qualcomm Inc declined 0.62%, after The Wall Street Journal reported that the chip maker was being pressured to consider a breakup to boost its weak share price by activist investor Jana Partners LLC.
Builders FirstSource jumped 67.68% after unveiling plans to buy ProBuild.
The dollar slid 0.04% and 0.3% against the yen and the pound respectively but climbed 0.15% against the euro, while gold futures edged 0.42% lower to $1,199.50.
Oil prices rebounded slightly, with West Texas Intermediate gaining 0.6% to $51.95 a barrel, while Brent crude rose 0.2% to $57.98 a barrel.
S&P 500 - Risers
Netflix Inc. (NFLX) $474.71 +4.43%
Emerson Electric Co. (EMR) $58.40 +2.73%
Genworth Financial Inc. (GNW) $7.93 +2.65%
Intuitive Surgical Inc. (ISRG) $542.31 +2.25%
Huntington Bancshares Inc. (HBAN) $11.28 +2.08%
Hewlett-Packard Co. (HPQ) $32.75 +1.99%
Perrigo Company plc (PRGO) $202.35 +1.91%
Ameriprise Financial Inc. (AMP) $126.62 +1.68%
Under Armour Inc. Class A (UA) $85.11 +1.62%
Host Hotels & Resorts Inc. (HST) $20.25 +1.61%
S&P 500 - Fallers
Symantec Corp. (SYMC) $24.14 -5.65%
Peabody Energy Corp. (BTU) $4.84 -4.91%
Tesoro Corp. (TSO) $82.07 -4.55%
Fossil Group Inc (FOSL) $81.89 -4.07%
Valero Energy Corp. (VLO) $57.46 -3.80%
Marathon Petroleum Corporation (MPC) $97.21 -3.20%
General Electric Co. (GE) $27.64 -3.05%
Staples Inc. (SPLS) $16.23 -2.96%
Union Pacific Corp. (UNP) $108.49 -2.63%
Mylan Inc. (MYL) $68.56 -2.39%
Dow Jones I.A - Risers
JP Morgan Chase & Co. (JPM) $62.13 +0.70%
Unitedhealth Group Inc. (UNH) $119.37 +0.31%
Travelers Company Inc. (TRV) $107.84 +0.18%
Procter & Gamble Co. (PG) $83.46 +0.13%
Microsoft Corp. (MSFT) $41.76 +0.10%
Dow Jones I.A - Fallers
General Electric Co. (GE) $27.64 -3.05%
Johnson & Johnson (JNJ) $100.55 -1.48%
Visa Inc. (V) $65.61 -1.10%
Pfizer Inc. (PFE) $35.09 -0.99%
Merck & Co. Inc. (MRK) $56.73 -0.91%
United Technologies Corp. (UTX) $117.41 -0.89%
3M Co. (MMM) $165.83 -0.74%
Boeing Co. (BA) $153.24 -0.74%
Home Depot Inc. (HD) $114.39 -0.74%
Nike Inc. (NKE) $99.27 -0.70%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $474.71 +4.43%
Intuitive Surgical Inc. (ISRG) $542.31 +2.25%
Vimpelcom Ltd Ads (VIP) $5.79 +1.58%
Facebook Inc. (FB) $83.03 +1.21%
Illumina Inc. (ILMN) $190.35 +1.16%
Sba Communications Corp. (SBAC) $118.71 +0.88%
Priceline Group Inc (PCLN) $1,200.01 +0.88%
Whole Foods Market Inc. (WFM) $51.92 +0.75%
TripAdvisor Inc. (TRIP) $83.53 +0.72%
Broadcom Corp. (BRCM) $44.55 +0.72%
Nasdaq 100 - Fallers
Symantec Corp. (SYMC) $24.14 -5.65%
Staples Inc. (SPLS) $16.23 -2.96%
Mylan Inc. (MYL) $68.56 -2.39%
Check Point Software Technologies Ltd. (CHKP) $82.91 -2.37%
CH Robinson Worldwide Inc (CHRW) $70.39 -2.32%
Dish Network Corp. (DISH) $70.45 -1.92%
Wynn Resorts Ltd. (WYNN) $133.60 -1.78%
Comcast Corp. (CMCSA) $58.78 -1.72%
Cognizant Technology Solutions Corp. (CTSH) $61.75 -1.67% |
| | The fastest growing market in London... | | Introducing The Oratory Apartments in London's regeneration programme.
With Zone 3 prices 41% lower than Zone 2, this exclusive off-market Crossrail investment opportunity is one not to be missed. Click here to find out more and see why Canning Town is about to boom! |
| | Newspaper Round Up | | Tuesday newspaper round-up: Greece, Morrisons, Labour According to the Financial Times, Greece is preparing for a debt default if it can't reach a deal with creditors by the end of the month. A government official was cited as saying: "We have come to the end of the road [...] If the Europeans won't release bailout cash, there is no alternative [to a default]."
Morrisons has announced the exit of Casper Meijer, its trading director, leaving just three senior managers who worked for the grocer under former boss Dalton Philips, The Times said.
The CBI has warned that a Labour government would introduce "quick fixes" and interventionist policies that could hamper job growth and undo the Coalition's work to make the UK more competitive, The Telegraph reports.
Consumer products giant Procter & Gamble is laying the groundwork for chief executive A G Lafley to step down as soon as this summer, writes The Wall Street Journal.
The head of Gazprom has warned that Europe could face higher natural gas prices if Brussels presses on its effort to reduce Russia's power in the market, according to The Wall Street Journal.
A survey by Deloitte has revealed that company finance chiefs are fearing possible policy shake-ups following the elections that could put the economic recovery at risk, along with the potential for an EU referendum, writes The Guardian.
"The challenges of drilling for oil in the Falklands were underlined yesterday", writes The Times, as AIM-listed Argos Resources agreed a farm-out deal to exit from asset in the seas north of the islands. | | |
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