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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: Markets dip on mixed earnings, ex-div stocks fall UK shares declined on Thursday morning ahead of a quiet session in terms of economic data, with corporate earnings coming in mixed and a number of ex-dividend stocks in the red. The FTSE 100 was down 0.58% at 6,909.22 early on.
Global stock markets closed in a mixed fashion on Wednesday on the back of conflicting economic data across the world: a raft of Chinese indicators disappointed, UK unemployment fell, Eurozone growth picked up, while US retail sales flatlined.
"A combination of a higher euro and a rise in European bond yields is starting to unsettle stock market investors at a time when concerns about a US rate rise are starting to diminish," said Michael Hewson from CMC Markets.
US jobless claims will be the only major economic data release of the day. Initial claims for unemployment benefits are forecast to have risen to 273,000 last week from 265,000 previously. Continuing claims are expected to rise to 2.233m from a 15-year low of 2.228m.
Earnings mixed, ex-div stocks fall
Property giant British Land dipped into the red despite meeting forecasts with a small increase in profits in the year ended 31 March. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.
ITV declined despite net advertising revenue being ahead of guidance for the first quarter as sentiment was dampened by a 24-hour staff strike over pay with a protest at the broadcaster's annual shareholder meeting.
Alton Towers and Madame Tassauds owner Merlin Entertainments edged higher after a "satisfactory" start to 2015, boosted by favourable weather in Europe and helpful currency movements.
Pharmaceutical outfit Hikma advanced as it reiterated its guidance for full-year revenue growth of "around 6% in constant currency".
Investment group 3i impressed with its annual results with a strong total return of 20% for the year.
A number of blue-chip stocks were trading lower after going ex-dividend, including Aberdeen, Shell, Glaxosmithkline, Kingfisher and J Sainsbury. |
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| | Market Movers
techMARK 3,217.65 -0.58%
FTSE 100 6,909.22 -0.58%
FTSE 250 17,806.81 -0.31%
FTSE 100 - Risers
3i Group (III) 522.50p +2.05%
Mondi (MNDI) 1,435.00p +1.49%
Hikma Pharmaceuticals (HIK) 2,046.00p +0.79%
Pearson (PSON) 1,311.00p +0.69%
Centrica (CNA) 277.90p +0.47%
Reed Elsevier (REL) 1,085.00p +0.46%
Shire Plc (SHP) 5,190.00p +0.39%
St James's Place (STJ) 928.50p +0.38%
United Utilities Group (UU.) 992.00p +0.35%
Burberry Group (BRBY) 1,763.00p +0.34%
FTSE 100 - Fallers
Sainsbury (J) (SBRY) 267.40p -2.94%
GlaxoSmithKline (GSK) 1,409.50p -2.83%
TUI AG Reg Shs (DI) (TUI) 1,173.00p -2.82%
Kingfisher (KGF) 351.40p -2.66%
Anglo American (AAL) 1,104.50p -2.39%
Aberdeen Asset Management (ADN) 433.10p -2.37%
ITV (ITV) 255.40p -1.77%
Royal Dutch Shell 'A' (RDSA) 2,009.50p -1.76%
Rio Tinto (RIO) 2,927.50p -1.71%
Glencore (GLEN) 296.10p -1.60%
FTSE 250 - Risers
Crest Nicholson Holdings (CRST) 490.10p +2.13%
Thomas Cook Group (TCG) 159.20p +1.66%
TalkTalk Telecom Group (TALK) 367.10p +1.07%
Fidelity China Special Situations (FCSS) 165.00p +0.98%
Bovis Homes Group (BVS) 1,045.00p +0.97%
Dairy Crest Group (DCG) 491.60p +0.90%
Bellway (BWY) 2,202.00p +0.87%
Howden Joinery Group (HWDN) 495.60p +0.85%
Spectris (SXS) 2,260.00p +0.76%
Indivior (INDV) 230.00p +0.74%
FTSE 250 - Fallers
Keller Group (KLR) 990.50p -3.74%
Fidessa Group (FDSA) 2,290.00p -3.58%
Telecity Group (TCY) 1,082.00p -2.96%
Carillion (CLLN) 329.20p -2.86%
SIG (SHI) 205.30p -2.79%
Restaurant Group (RTN) 702.00p -2.43%
Inmarsat (ISAT) 990.00p -2.37%
Diploma (DPLM) 786.00p -2.30%
Vedanta Resources (VED) 645.00p -2.27% |
| | UK Event Calendar | | Thursday 14 May
INTERIMS
Euromoney Institutional Investor, Grainger, Marston's, Mitchells & Butlers, UDG Healthcare Public Limited Company
INTERIM DIVIDEND PAYMENT DATE
Just Retirement Group, Photo-Me International, Volution Group (WI)
INTERIM EX-DIVIDEND DATE
Aberdeen Asset Management, FDM Group (Holdings), Greencoat UK Wind, Regenersis, Sage Group
QUARTERLY EX-DIVIDEND DATE
GlaxoSmithKline, MedicX Fund Ltd., Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Utilico Investments Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Producer Price Index (US) (13:30)
FINALS
Beximco Pharmaceuticals Ltd. GDR (Reg S), Hibernia Reit , NewRiver Retail Limited
IMSS
Aggreko, FBD Holdings, Hansard Global, Irish Continental Group Units, Keller Group, Merlin Entertainments , Old Mutual, Paddy Power, UTV Media
SPECIAL EX-DIVIDEND PAYMENT DATE
Fidessa Group
AGMS
Amec Foster Wheeler, Arbuthnot Banking Group, Balfour Beatty, Cairn Energy, Caledonia Mining Corporation, Chime Communications, Exova Group , FBD Holdings, Fidelity European Values, Fox Marble Holdings, Hikma Pharmaceuticals, Hill & Smith Holdings, Hotel Corporation (The), Hygea VCT, ITV, Keller Group, Kings Arms Yard VCT, Lloyds Banking Group, LMS Capital, Melrose Industries, Merlin Entertainments , Mobeus Income & Growth 4 Vct, Next, Old Mutual, Paddy Power, Petrofac Ltd., ProPhotonix (DI), Prudential, Rathbone Brothers, Restaurant Group, Robinson, SIG, St James's Place, Stilo International, UBM, Unite Group, UTV Media, Vesuvius, Vesuvius, Xchanging, Xcite Energy Ltd. (CDI)
TRADING ANNOUNCEMENTS
SIG, Tungsten Corporation
UK ECONOMIC ANNOUNCEMENTS
RICS Housing Market Survey (09:30)
FINAL DIVIDEND PAYMENT DATE
IndigoVision Group, Ladbrokes, Standard Chartered, Tullett Prebon
FINAL EX-DIVIDEND DATE
Air Partner, Alent, BBGI SICAV S.A. (DI), Blackstar Group SE (DI), British American Inv Trust, Burford Capital , Carillion, Epwin Group, Fidessa Group, Global Invacom Group Limited (DI), Goals Soccer Centres, Hydro International, Inmarsat, Kingfisher, Management Consulting Group, Microgen, Northbridge Industrial Services, OneSavings Bank, Polyus Gold International Ltd, Quarto Group Inc., Robinson, Safestay, Sainsbury (J), Share plc, SQS Software Quality Systems AG, Volga Gas
Q1
Telefonica SA
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks decline amid bonds sell-off and Greece concerns European stocks looked poised to extend a losing streak on Thursday, as bonds continued to decline and the standoff on Greece showed no signs of improving. As of 09:10 BST, the Stoxx Europe 600 Index was down 0.07%, while the CAC 40 lost 0.59% and the DAX shed 0.26%.
The benchmark gauge declined on Tuesday and Wednesday as the bond-sell off and a stronger euro weighed on German equities, while yields rose on 10-year notes in Germany, Spain and Italy on Thursday.
The euro climbed 0.58% against both the dollar and the yen.
"The bond market moves are making investors quite anxious," said Oanda's senior market analyst Craig Erlam.
"The pace at which they've risen has been quite surprising, which is probably a consequence of a lack of liquidity in the market at the moment."
European stocks have dropped 5% since April, curbing their 2015 rally to just over 15%, with German stocks among the biggest losers.
Meanwhile, according to sources cited by Bloomberg, the European Central Bank is reportedly growing more concerned about a deteriorating relationship between Greece's government and the country's central bank.
On Wednesday, data showed that Greece had slipped back into recession in the first quarter, making it harder for Athens to meet the ECB and IMF's conditions for further financial aid.
In company news, mining giants Rio Tinto and BHP Billiton fell 1.68% and 1.85% respectively, while Daimler and Volkswagen shed 0.46% and 0.92% respectively.
Shoes and accessories maker Tod's SpA edged forward 0.78% despite reporting first quarter earnings that fell short of expectations, while Salvatore Ferragamo SpA slid 4% after sales on a constant currency basis rose less-than-expected. |
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| | US Market Report | | US close: Stocks erase gains after weak retail sales
US stocks finished flat on Wednesday as early gains were wiped out on the back of weak retail sales data.
At close, the Dow Jones Industrial Average was down eight points, while the S&P 500 fell one point and the Nasdaq gained six points.
Investors were keeping an eye out for signs of economic growth in the US after a slow start to year, as well as overseas, driven by Eurozone data which suggested that the European Central Bank's (ECB) stimulus programme is taking effect.
“If you put all the data points together, coupled with stimulus coming out from central banks globally, it suggests that global demand should pick up,” said Quincy Krosby, market strategist at Prudential Financial. “If demand picks up, even at the margin, it’s a net positive for multinationals,” she added.
US retail sales volumes were flat month-on-month in April at $436.8bn, according to the US Department of Commerce, while economists had been expecting a 0.2% increase.
Meanwhile, US import prices declined unexpectedly in April led by a drop in prices of non-fuel imports. Prices of goods purchased from overseas fell by 0.3% and by another 10.7% in comparison to the year ago level, according to the Bureau of Labor Statistics.
The underwhelming data initially received a positive reception, as investors hedged bets that the Fed would postpone interest rate increases on signs of sluggish growth. However, such gains fizzled out by the closing bell.
In company news, shares of DuPont dipped after a campaign by activist investor Nelson Peltz pushing for an investor presence on the chemical company's board fell flat.
Ralph Lauren was in the red after currency headwinds drove first quarter earnings down 19% and weighed on underlying revenue growth.
Department store chain Macy's was trading lower after reporting disappointing sales and profit in the first quarter.
Williams Partners L.P. soared after gas infrastructure group Williams Companies Inc, which also received a boost, announced a deal to buy the public equity of Williams Partners in a deal worth $13.8bn.
The earnings season continues with restaurant operator Shake Shack, IT giant Cisco and department store J.C. Penney set to report after the close. |
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| | Newspaper Round Up | | Thursday newspaper round-up: Bank of England, UK budget deficit, Saudi oil The US Department of Justice is probing what the Bank of England knew about the alleged manipulation of FX markets, questioning traders previously interviewed as part of the BoE's own investigation, writes the Financial Times. "US prosecutors are concerned over the thoroughness of the BoE's report and the way its inquiry was handled, according to people familiar with the situation," the paper said. Brussels has told the UK to take enough "effective action" to lower its budget deficit after it reached 5.2% of GDP in 2014, above the EU's 3% limit, reports The Telegraph.
Saudi Arabia has said its strategy of putting pressure on high-cost rivals such as US shale producers is working, as the kingdom's output reached a new record high in April, the Financial Times said.
France's SNCF has become the controlling shareholder of Eurostar after receiving the green light from the European Commission, The Times writes.
The boss of AOL, Tim Armstrong, is set to net nearly $180m from the sale of the company to Verizon Communications, according to The Wall Street Journal. Armstrong is AOL's largest individual shareholder with a 6.7% stake.
The Guardian said the number of homes coming on the market dropped to a lowest level is nearly six years last month, according to data from Rics. | | |
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