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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: Stocks rise modestly amid Greek talks, UK economic data Stocks in London advanced on Friday morning on a quiet day for corporate newsflow, with investors awaiting key employment data from the UK while digesting Greek debt talks. "The FTSE opened the day on the positive side of flat, after yesterday afternoon's [...] declines pulled the index away from its record-highs. As the election rumbles on, the UK's economic releases today will be heavily scrutinised," said Spreadex analyst Connor Campbell.
The FTSE 100 was up 0.2% at 7,074.65 in early deals, with utility stocks leading the rise. The index had pulled back the previous session from Wednesday's record closing high of 7,096.78.
The market's focus on Friday morning was likely to be on domestic economic data, with UK average weekly earnings, UK jobless claims and the UK unemployment rate all due for release. The latter, in particular, is forecast to fall from 5.7% to 5.6% in the three months ended February.
Meanwhile, all eyes continue to be on Greece as its debt crisis dominates proceedings at the International Monetary Fund-World Bank spring meetings in Washington.
Pierre Moscovici, European Commissioner for economic and financial affairs, said there is no Plan B for Greece regarding a deal over a rescue package.
Meanwhile, IMF managing director Christine Lagarde denied speculation that the IMF was willing to grant a delay on the repayment of loans due next month.
Yanis Varoufakis responded by saying that Greece will "compromise, compromise, compromise without 'being' compromised".
Utilities lead the rise
Utility stocks were among the best performers early on, with Severn Trent, United Utilities, Centrica, SSE and National Grid on the rise.
Astrazeneca edged higher after its eye cancer treatment, selumetinib, was given 'orphan drug' status by US regulators, which should smooth its path to full approval.
GKN was trading in the red after Exane BNP Paribas downgraded the stock to 'neutral', while engineering peer Weir Group was lifted by the broker to 'neutral'.
Engineering and consulting outfit Ricardo was in demand after expanding its rail services with the £42.5m acquisition of consultancy and assurance business Lloyd's Register Rail.
On AIM, Mediterranean-focused explorer Sound Oil received environmental approval for its Nervesa gas discovery in Italy, which remains on track to reach commercial production this year.
Shares in Applied Graphene Materials jumped after the graphene products group reported positive results from independent coatings trials. |
| | Market Movers
techMARK 3,230.61 +0.30%
FTSE 100 7,074.65 +0.20%
FTSE 250 17,773.90 +0.25%
FTSE 100 - Risers
Pearson (PSON) 1,397.00p +1.97%
Severn Trent (SVT) 2,159.00p +1.79%
Persimmon (PSN) 1,758.00p +1.44%
Ashtead Group (AHT) 1,129.00p +1.26%
ITV (ITV) 269.10p +1.13%
Barratt Developments (BDEV) 535.00p +1.04%
Mondi (MNDI) 1,397.00p +1.01%
British Land Company (BLND) 860.50p +1.00%
Burberry Group (BRBY) 1,827.00p +0.94%
Rolls-Royce Holdings (RR.) 989.00p +0.92%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 2,097.00p -1.36%
InterContinental Hotels Group (IHG) 2,688.00p -1.03%
Royal Mail (RMG) 444.90p -0.94%
Fresnillo (FRES) 738.50p -0.67%
Intertek Group (ITRK) 2,638.00p -0.64%
Imperial Tobacco Group (IMT) 3,261.00p -0.55%
Tesco (TSCO) 239.95p -0.46%
Marks & Spencer Group (MKS) 566.00p -0.35%
Sports Direct International (SPD) 661.50p -0.30%
Direct Line Insurance Group (DLG) 327.90p -0.27%
FTSE 250 - Risers
Hunting (HTG) 635.50p +5.65%
QinetiQ Group (QQ.) 202.30p +3.69%
Laird (LRD) 356.10p +2.77%
AO World (AO.) 188.70p +2.61%
Playtech (PTEC) 795.50p +2.38%
Soco International (SIA) 186.60p +2.19%
Debenhams (DEB) 86.75p +2.18%
Countrywide (CWD) 535.50p +1.81%
IP Group (IPO) 227.00p +1.75%
Renishaw (RSW) 2,515.00p +1.66%
FTSE 250 - Fallers
Rotork (ROR) 2,566.00p -2.91%
Indivior (INDV) 208.40p -2.30%
NMC Health (NMC) 713.00p -1.79%
Centamin (DI) (CEY) 60.25p -1.79%
Allied Minds (ALM) 686.00p -1.65%
Imagination Technologies Group (IMG) 202.70p -1.60%
Spire Healthcare Group (SPI) 325.80p -1.42%
esure Group (ESUR) 210.00p -1.27%
Evraz (EVR) 203.00p -1.17% |
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| | UK Event Calendar | | Friday 17 April
INTERIM DIVIDEND PAYMENT DATE
Abcam, Game Digital, Symphony International Holdings Ltd., Trifast, Waterman Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Consumer Price Index (EU) (10:00)
Consumer Price Index (US) (13:30)
Current Account (EU) (09:00)
Harmonised Index of Consumer Prices (EU) (10:00)
Leading Indicators (US) (15:00)
U. of Michigan Confidence (Prelim) (US) (14:55)
Wholesale Price Index (GER) (07:00)
GMS
Quindell
FINALS
Havelock Europa, Midatech Pharma
ANNUAL REPORT
Henry Boot
SPECIAL DIVIDEND PAYMENT DATE
Direct Line Insurance Group, Game Digital, Symphony International Holdings Ltd.
AGMS
McColl's Retail Group , React Energy, Stadium Group
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Unemployment Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
Direct Line Insurance Group, Heavitree Brewery, Heavitree Brewery 'A' Shares
Q1
X5 Retail Group NV GDR (Reg S) |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Indices mixed ahead of Eurozone and US inflation European indices opened the session mixed ahead of the release of Eurozone and US consumer price figures.
Analysts predict Eurostat will confirm the euro-area's consumer price index (CPI) fell at a 0.1% year-on-year pace in March.
The European Central Bank (ECB) is trying to bring the bloc out of deflation and back towards its inflation target of just below 2% through its €1.1trn quantitative easing (QE) programme.
ECB President Mario Draghi on Wednesday said that the monetary authority intended to continue QE until September 2016 or until its sees improvement in CPI.
The US also publishes CPI figures on Friday with analysts predicting 0% growth in March.
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota on Tuesday raised concerns that low inflation could continue for years to come.
"I'm much more worried about the downside" of having inflation stay persistently under the Fed's 2% target," Kocherlakota said.
"We've see in Europe and Japan, that when inflation gets stuck at low levels, it's very hard to get it back up."
In the UK, the Office for National Statistics releases its last labour market data at 09:30 BST including the change in employment numbers, the unemployment rate, weekly earnings and jobless claims. Further improvements in the labour market may see the Bank of England face calls for an interest rate hike.
On the coporate front, Nestle, the world's biggest packaged food maker, said an increase in prices and volume boosted its first quarter sales. The group said sales rose 0.5% to $20.9bn (£14.6bn), adding that currency headwinds reduced reported sales by approximately 4.5%. The company's shares were broadly flat.
Accor SA rallied after it reported an increase in first-quarter sales that beat analysts' estimates. Ayngenta AG declined after first-quarter sales missed projections.
Abertis Infraestructuras SA dropped as an investor sold a 1.3% stake.
The euro rose 0.32% to $1.0795. |
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| | US Market Report | | US close: Dow edges lower amid mixed earnings and data US stocks edged lower on Thursday, relinquishing gains late on as investors digested a raft of mixed economic data and earnings. The Dow Jones Industrial Average closed down 6.84 points, while the S&P 500 and the Nasdaq fell two and five points respectively.
"There's been a lot of attention on the current earnings season and what impact the dollar, weather and oil prices had on profits," said Oanda's senior market analyst Craig Erlam.
"The biggest concern is the strength of the dollar and to what extent it has eroded away at overseas profits, especially as it is only likely to get stronger in the next 12 months."
Initial US unemployment claims rose by 12,000 over the seven days ending on 11 April to reach 294,000, according to the Bureau of Labour Statistic.
"The slight uptick in initial claims is in line with the near-term volatility of the series, and we continue to view claims data as reflective of overall improvement in labor markets," analysts at Barclays said in a note.
Meanwhile, US housing starts grew by 2% month-on-month in March to reach an annualised pace of 926,000, falling below the 1.04m expected by economists.
February's tally was revised higher to show 908,000 starts, in comparison to a preliminary estimate of 897,000.
Atlanta Federal Reserve President Dennis Lockhart, a voting member of the FOMC, said the central bank should wait on hiking rates because of disappointing first quarter data, while Cleveland Fed President Loretta Mester, who isn't a voter, said she would be comfortable with an hike in the short-term future, provided economic growth regained momentum.
Speaking in London, Boston Fed President Eric Rosengren, also a non-voter, said that economic data needs to improve before the Fed can start raising rates.
Netflix jumped 18.2% after the internet television network said late on Wednesday that it added 4.88m subscribers in the first quarter, more than the 4.05m analysts had forecasted.
Philip Morris gained 8.7% after the tobacco giant beat profit and sales estimates and raised its full-year outlook.
UnitedHealth rose 3.4% after raising its outlook for 2015 earnings to $6.15 to $6.30 per share from $6.00 to $6.25 per share.
Citigroup rose 1.5% after earnings beat expectations, while Goldman Sachs shed 0.4% despite better-than-expected results.
Going the other way, SanDisk dropped over 4% ahead of the bell the memory-chip maker reported a drop in profit late on Wednesday.
Blackrock lost 1.1% even after its earnings beat expectations.
Party City, online marketplace Etsy and trading firm Virtu Financial jumped upon debut on the New York, with the Party City gaining 20%, while the Etsy surged 90% and Virtu soared 19%.
Oil prices relinquished the previous session's gains, with West Texas Intermediate climbing 0.2% to $56.52 a barrel, while Brent crude fell 0.9% to $63.90 a barrel.
The dollar shed 0.8% against the euro and 0.7% against the pound but was largely stable against the yen, while gold futures shed 0.24% to $1,198.40.
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% |
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| | Newspaper Round Up | | Friday newspaper round-up: Greece, Schlumberger, Ed Miliband Pierre Moscovici, European Commissioner for economic and financial affairs, has said there is no Plan B for Greece and no chance of a reprieve on an existing repayment due to the International Monetary Fund, writes The Times. Greek finance minister Yanis Varoufakis accused creditors of trying to force Athens to its knees by "liquidity asphyxiation", The Telegraph said. He said that "toying with Grexit, or amputating Greece, is profoundly anti-European".
Oilfield services giant Schlumberger saw profits sink 39% in the first quarter and announced it would lay-off an extra 11,000 staff, in addition to the 9,000 job cuts announced in January, according to The Wall Street Journal.
The Guardian reported that Labour's Ed MIliband on Thursday night rejected SNP leader Nicola Sturgeon's offer of an anti-Tory coalition, saying: "I'm not going to put at risk the unity of the United Kingdom. It's a no, I'm afraid."
An "air of insecurity is hanging over sterling assets" ahead of the election, according to the Financial Times, as figures from the Bank of England showed that international investors have reduced their gilt holdings by over £14bn since the start of 2014.
Channel 4 is setting up a video-game publishing business in Glasgow to back small, third-party developers as it hopes to cash in on the mobile gaming boom, The Times reports. | | |
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