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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 edge higher as corporate updates impress
UK stocks edged higher on Friday morning ahead of what is expected to be another quiet session, though trading volumes are expected to pick up slightly.
The FTSE 100 was up 0.38% at 6,999.81 early on with corporate updates from a number of blue chips being warmly-received by investors.
Markets across Europe had finished higher on Thursday, though volumes were lower than usual owing to bank holidays in both France and Germany.
"Trading volumes should pick up on Friday as people in Europe return to their desks […], although they will probably remain below average as it’s likely many will stay away today and turn it into a long weekend," said analyst Craig Erlam from Oanda.
He said that a lack of economic data on Friday "won't help matters".
The UK construction output data due at 09:30 is the only major release of the morning, with output forecast to have risen 4% in March after a 0.9% fall in February. The annual growth rate is expected to come in at 1.1% after a previous 1.3% decline.
Friday afternoon will see the release of a host of economic data from the US with the Empire State manufacturing index, industrial production and University of Michigan consumer-confidence survey all due.
Corporate updates impress
Coca-Cola bottler Coca-Cola HBC gained after beating forecasts slightly with an unexpected increase in first-quarter sales. Net sales revenues totalled €1.353bn in the first three months of 2015, up just 1.7% on last year.
Housebuilder Bovis Homes advanced after hiking its dividend plans following a strong start to the year. Bovis said it now planned to pay out 40p per share, up from the 35p it had previously indicated.
Product testing and quality certification group Intertek rose after saying it traded in line with expectations in the first four months of 2015 with revenue growth of 3.3%, helped by a stronger pound.
SABMiller pleased with a deal to buy London-based modern craft brewer Meantime Brewing Company for an unspecified sum as it looks to diversify from its mainstream beer brands.
Real estate investment trusts were all performing well, including British Land, Land Securities, TR Property Investment Trust, Shaftesbury and Derwent London.
Oil and gas stocks including BP, Shell and Premier Oil were lower as Brent crude fell 0.4% to $66.46 a barrel. UK stocks edged higher on Friday morning ahead of what is expected to be another quiet session, though trading volumes are expected to pick up slightly. The FTSE 100 was up 0.38% at 6,999.81 early on with corporate updates from a number of blue chips being warmly-received by investors. Markets across Europe had finished higher on Thursday, though volumes were lower than usual owing to bank holidays in both France and Germany. "Trading volumes should pick up on Friday as people in Europe return to their desks […], although they will probably remain below average as it’s likely many will stay away today and turn it into a long weekend," said analyst Craig Erlam from Oanda. He said that a lack of economic data on Friday "won't help matters". The UK construction output data due at 09:30 is the only major release of the morning, with output forecast to have risen 4% in March after a 0.9% fall in February. The annual growth rate is expected to come in at 1.1% after a previous 1.3% decline. Friday afternoon will see the release of a host of economic data from the US with the Empire State manufacturing index, industrial production and University of Michigan consumer-confidence survey all due. Corporate updates impress Coca-Cola bottler Coca-Cola HBC gained after beating forecasts slightly with an unexpected increase in first-quarter sales. Net sales revenues totalled €1.353bn in the first three months of 2015, up just 1.7% on last year. Housebuilder Bovis Homes advanced after hiking its dividend plans following a strong start to the year. Bovis said it now planned to pay out 40p per share, up from the 35p it had previously indicated. Product testing and quality certification group Intertek rose after saying it traded in line with expectations in the first four months of 2015 with revenue growth of 3.3%, helped by a stronger pound. SABMiller pleased with a deal to buy London-based modern craft brewer Meantime Brewing Company for an unspecified sum as it looks to diversify from its mainstream beer brands. Real estate investment trusts were all performing well, including British Land, Land Securities, TR Property Investment Trust, Shaftesbury and Derwent London. Oil and gas stocks including BP, Shell and Premier Oil were lower as Brent crude fell 0.4% to $66.46 a barrel. - See more at: http://www.digitallook.com/news/market-report-opening/london-open-stocks-edge-higher-as-corporate-updates-impress--725039.html#sthash.ut9Q1wrH.dpuf |
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| | UK Event Calendar | | Friday 15 May
INTERIM DIVIDEND PAYMENT DATE
Carr's Group, Kier Group
QUARTERLY PAYMENT DATE
Abbott Laboratories, Marsh & Mclennan Cos Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (14:15)
Industrial Production (US) (14:15)
U. of Michigan Confidence (Prelim) (US) (14:55)
Wholesale Price Index (GER) (07:00)
ANNUAL REPORT
Andrews Sykes Group, London Security
SPECIAL DIVIDEND PAYMENT DATE
888 Holdings, Novae Group, OMG, Plus500 Ltd (DI)
AGMS
Bovis Homes Group, Brammer, British Smaller Companies VCT 2, Byblos Bank SAL GDR (Reg S), Chesnara, Highcroft Investment, Highcroft Investment, Hochschild Mining, Intertek Group, Menzies(John), Ocado Group, Polyus Gold International Ltd, Princess Private Equity Holding Ltd., Restore, Tribal Group, Tyman, Valirx
TRADING ANNOUNCEMENTS
Coca-Cola HBC AG (CDI)
FINAL DIVIDEND PAYMENT DATE
888 Holdings, AL Noor Hospitals Group, Arbuthnot Banking Group, ARM Holdings, Aviva, British Polythene Industries, Clarke (T.), Communisis, Devro, Drax Group, Glanbia, InterContinental Hotels Group, Johnson Service Group, JPMorgan American Inv Trust, Kerry Group 'A' Shares, Kingspan Group, Lighthouse Group, Man Group, Millennium & Copthorne Hotels, Mithras Inv Trust, Novae Group, Plus500 Ltd (DI), Quartix Holdings , RSA Insurance Group, Sagicor Financial Corp., Secure Trust Bank, St James's Place, Vitec Group
Q1
New Europe Property Investments |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Too early to fight the bull market, Citi says European stocks began the morning with slight gains, riding on the coattails of overnight gains on Wall Street.
As of 08:24 Germany's Dax-30 was up by 0.30% to 11,594.49 and the Cac-40 in Paris was up by 0.17% to 5,037.89.
Friday was expected to be rather lacklustre in terms of macroeconomic data out of the Eurozone.
Greece and its international creditors were expected to hold another teleconference to try and reach an agreement to unlock Athen's remaining bail-out funds. A team from Greece was expected to travel to Brussels over the weekend.
Creditors have asked Athens to present a list of proposed reforms, preferably by Sunday, according to Athens daily Kathimerini.
The flow of economic data was expected to pick up later in the session with the release of the latest figures on US industrial production and consumer confidence.
Healthcare, Financials outperform
In a research note on global equities analysts at Citi told clients that: "We think it is still too early to fight this bull market and remain 'overweight' two of the more bubbly sectors (health care, consumer discretionary). For balance, we are also 'overweight' the distinctly unbubbly financials."
Global agri-science giant Monsanto was said to be seeking buyers for the seed operations of Syngenta.
Within the DJ Stoxx 600 the largest gains were to be seen in the following industrial groups: Health care (0.75%), Financial services (0.59%) and Technology (0.45%).
Euro/dollar edged lower by 0.03% to 1.1404. |
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| | US Market Report | | US close: Stocks rally as S&P closes at record high US stocks rallied on Thursday, with the S&P closing at a record high as investors were buoyed by a positive jobless claims report. The Dow Jones Industrial Average closed up 191.75 points to 18,252.24, while the S&P 500 clinched a record high finish after closing up 22.6 points and the Nasdaq climbed 68 points.
Having fallen sharply on Wednesday, the dollar was feeling the pinch on Thursday, losing 0.22% against the pound and 0.52% against the euro, although it was flat against the yen, while gold futures climbed 0.25% to $1,221.30.
Initial weekly unemployment claims slipped by 1,000 in the week ending on 9 May to reach 264,000, according to the Department of Labour, compared with expectations of a 270,000 reading.
The four week moving average fell by 7,750 to hit 271,750, its lowest level since 22 April, 2000.
"The decline should reassure those worried about the strength of the US recovery," said Paul Ashworth, chief US economist at Capital Economics.
"While retail sales and non-farm payrolls are both coincident indicators, this is a genuine leading indicator."
Meanwhile, the slide in factory gate prices in the US accelerated in April due to a sharp fall in gasoline prices.
Final demand producer prices fell at a 1.3% year-on-year pace, in comparison to a 0.8% drop in March, according to the Bureau for Labour Statistics.
In company news, restaurant operator Shake Shack relinquished early gains to slump 4.18%, despite reporting late on Wednesday that its first quarter results exceeded expectations, while clothing maker Perry Ellis jumped 8.78% after reporting an increase in first quarter earnings.
IT group Cisco Systems declined 1.02% reporting a first quarter loss on Wednesday, while department store chain Kohl's plunged 13.27% after its first quarter sales fell short of expectations.
Oil prices fell, with West Texas Intermediate slipping 1.19% to $59.79 a barrel, while Brent fell 0.34% to $66.58 a barrel.
S&P 500 - Risers
First Solar Inc. (FSLR) $54.70 +10.19%
Expeditors International Of Washington Inc. (EXPD) $47.88 +5.29%
Peabody Energy Corp. (BTU) $7.84 +5.09%
Home Depot Inc. (HD) $116.75 +3.98%
United States Steel Corp. (X) $25.13 +3.50%
Freeport-McMoRan Inc (FCX) $21.22 +3.06%
CONSOL Energy Inc. (CNX) $34.34 +3.00%
Exelon Corp. (EXC) $34.79 +2.99%
Cabot Oil & Gas Corp. (COG) $28.40 +2.97%
Coach Inc. (COH) $42.95 +2.97%
S&P 500 - Risers
Avon Products Inc. (AVP) $7.60 +13.94%
Computer Sciences Corp. (CSC) $67.28 +4.29%
Boston Scientific Corp. (BSX) $17.91 +3.95%
St Jude Medical Inc. (STJ) $74.49 +3.80%
Facebook Inc. (FB) $81.37 +3.74%
Tesoro Corp. (TSO) $91.93 +3.52%
Carnival Corp. (CCL) $47.37 +3.50%
Abbott Laboratories (ABT) $48.67 +3.49%
Cognizant Technology Solutions Corp. (CTSH) $63.82 +3.19%
Altria Group Inc. (MO) $52.60 +3.14%
S&P 500 - Fallers
Kohls Corp. (KSS) $64.62 -13.27%
Ensco Plc. (ESV) $26.02 -4.86%
Noble Corporation plc (NE) $17.10 -4.42%
Best Buy Co. Inc. (BBY) $34.82 -3.81%
Rowan Companies plc (RDC) $23.02 -3.80%
Target Corp. (TGT) $77.26 -3.21%
Diamond Offshore Drilling Inc. (DO) $33.47 -2.93%
Transocean Ltd. (RIG) $20.81 -2.71%
Range Resources Corp. (RRC) $61.03 -2.66%
Nordstrom Inc. (JWN) $74.15 -2.65%
Dow Jones I.A - Risers
Apple Inc. (AAPL) $128.95 +2.33%
Unitedhealth Group Inc. (UNH) $118.53 +2.30%
Microsoft Corp. (MSFT) $48.72 +2.30%
Visa Inc. (V) $70.00 +1.97%
Boeing Co. (BA) $147.96 +1.61%
United Technologies Corp. (UTX) $119.14 +1.51%
Johnson & Johnson (JNJ) $101.83 +1.27%
Nike Inc. (NKE) $103.44 +1.25%
Pfizer Inc. (PFE) $33.94 +1.22%
3M Co. (MMM) $163.15 +1.14%
Dow Jones I.A - Fallers
Cisco Systems Inc. (CSCO) $29.05 -1.02%
Nasdaq 100 - Risers
Maxim Integrated Products Inc. (MXIM) $34.10 +4.87%
Vimpelcom Ltd Ads (VIP) $6.04 +4.32%
Facebook Inc. (FB) $81.37 +3.74%
Cognizant Technology Solutions Corp. (CTSH) $63.82 +3.19%
Avago Technologies Ltd. (AVGO) $126.94 +3.09%
Adobe Systems Inc. (ADBE) $79.43 +3.05%
Akamai Technologies Inc. (AKAM) $78.36 +2.94%
Regeneron Pharmaceuticals Inc. (REGN) $491.43 +2.93%
Xilinx Inc. (XLNX) $44.99 +2.88%
Liberty Interactive Corp (QVCA) $28.37 +2.72%
Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $123.00 -2.01%
Wynn Resorts Ltd. (WYNN) $108.79 -1.96%
Ross Stores Inc. (ROST) $99.33 -1.89%
Micron Technology Inc. (MU) $26.69 -1.84%
Staples Inc. (SPLS) $16.36 -1.42%
Dollar Tree Inc (DLTR) $76.97 -1.13%
Cisco Systems Inc. (CSCO) $29.05 -1.02%
Costco Wholesale Corp. (COST) $142.54 -0.49%
Applied Materials Inc. (AMAT) $19.86 -0.35% |
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| | Newspaper Round Up | | Friday newspaper round-up: SNP, New Look, Greece, US shale The Scottish National Party is prepared to defy David Cameron and push ahead with a second Scottish independence referendum without Westminster's permission if the prime minister refuses any future demand to hold one, the Guardian reports.
New Look has ditched plans to list on the stock market after being sold to South Africa's Brait for £1.9bn, writes the Telegraph.
Greek finance minister Yanis Varoufakis has refused any bailout plan that would send Greece into a "death spiral", saying he wished the country still had the drachma and had not entered the Eurozone, the Guardian reports.
The boss of Continental Resources, one of the leading figures of the US shale revolution, has said that the slowdown in output is only temporary and dismissed a Saudi claim that its strategy of squeezing American producers was working, writes the Financial Times.
Talktalk has accused BT of bullying tactics, trying to bully the new government by threatening to pull the plug on an upgrade to the UK broadband network if it is broken up, reports The Times.
Bank of England governor Mark Carney has said that an UK referendum on EU membership should take place "as soon as necessary" as the prospect of a vote is stoking business uncertainty, The Guardian reports.
The US Justice Department is to tear up a 2012 settlement related to alleged interest-rate rigging at UBS, according to The Wall Street Journal.
Jim O'Neill, the former Goldman Sachs economist who coined the term 'BRICs', is set to become commercial secretary for city devolution and infrastructure at the Treasury, according to The Telegraph. | | |
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