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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 retreat on Greek uncertainty Stocks opened in the red on Thursday as investors took profits following a surge the day before, with renewed uncertainty in Greece hitting sentiment.
The FTSE 100 was down 0.22% at 7,017.70 early on.
Reports of a imminent Greek debt deal hitting the wires spurred buying on Wednesday, sending the index up 1.2% to close at 7,033.33.
"Of course, whether you believe progress has actually been made depends entirely on which officials you choose to listen to, which does confuse matters somewhat," according to Oanda analyst Craig Erlam.
In fact, German Finance Minister Wolfgang Schaeuble actually said in an interview with ARD television that "negotiations between the three institutions and the Greek government still haven't come very far".
He said he is "always a bit surprised" when Greece says an agreement is near.
Things are expected to pick up on the economic data calendar after a quiet session on Wednesday, with data due out on UK GDP, UK mortgage loans, Eurozone confidence, US initial jobless claims and US pending homes.
The revision of UK GDP figures for the first quarter out at 09:30 are expected to be revised up to show growth of 0.4% from the initial estimate of 0.3%. The first reading followed 0.6% growth in the fourth quarter of 2014 and marked the lowest level of expansion since the end of 2012.
Sports Direct, Kingfisher and ARM rise
High street sports retailer Sports Direct was a high riser after it lifted its guidance for annual profits due to "continued and prudent depreciation policy and lower interest charges".
B&Q and Screwfix owner Kingfisher also impressed after making a "solid" start to the year under new French chief executive V?ronique Laury, with like-for-like sales up 0.8% in the first quarter.
Chip designer ARM Holdings was in demand as M&A activity continued across the sector after reports that Broadcom could be snapped up by Avago Technologies in a $35bn deal.
Mining stocks were mostly lower, including Anglo American, BHP Billiton and Glencore. Concerns about China may have also been weighing on shares after HSBC downgraded its Chinese GDP growth forecast for 2015 from 7.3% to 7.1%.
Payment solutions group Paypoint gained after saying its retail networks performed well during the full year, with revenues and profits rising.
Synergy Health extended losses as hopes over the proposed takeover by US outfit Steris Corp continued to fade on rumours that the FTC will move to block the deal.
Shares in Tate & Lyle slid after the sweeteners and food ingredients group said that full-year pre-tax profit dropped 30% as it continues to restructure its business. |
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| | Market Movers
techMARK 3,323.24 +0.01%
FTSE 100 7,017.70 -0.22%
FTSE 250 18,206.56 -0.17%
FTSE 100 - Risers
Sports Direct International (SPD) 687.00p +4.33%
Kingfisher (KGF) 378.30p +3.14%
ARM Holdings (ARM) 1,162.00p +2.02%
TUI AG Reg Shs (DI) (TUI) 1,194.00p +1.79%
Reed Elsevier (REL) 1,114.00p +1.36%
Persimmon (PSN) 1,983.00p +1.28%
Dixons Carphone (DC.) 469.50p +1.12%
InterContinental Hotels Group (IHG) 2,801.00p +1.08%
Direct Line Insurance Group (DLG) 334.20p +0.97%
United Utilities Group (UU.) 1,004.00p +0.96%
FTSE 100 - Fallers
Anglo American (AAL) 1,017.00p -2.26%
Intertek Group (ITRK) 2,521.00p -2.14%
Marks & Spencer Group (MKS) 586.00p -1.76%
Glencore (GLEN) 282.55p -1.46%
Fresnillo (FRES) 733.00p -1.41%
BHP Billiton (BLT) 1,361.50p -1.27%
Rio Tinto (RIO) 2,845.00p -1.25%
RSA Insurance Group (RSA) 430.80p -1.24%
HSBC Holdings (HSBA) 617.90p -1.18%
Antofagasta (ANTO) 754.00p -0.98%
FTSE 250 - Risers
PayPoint (PAY) 921.50p +4.95%
Infinis Energy (INFI) 185.00p +3.35%
Rank Group (RNK) 207.20p +2.57%
Zoopla Property Group (WI) (ZPLA) 245.50p +2.29%
Inmarsat (ISAT) 1,006.00p +2.08%
Daejan Holdings (DJAN) 5,665.00p +1.61%
Brewin Dolphin Holdings (BRW) 319.50p +1.40%
Computacenter (CCC) 740.00p +1.37%
Just Eat (JE.) 473.40p +1.28%
Tullett Prebon (TLPR) 398.60p +1.17%
FTSE 250 - Fallers
Soco International (SIA) 180.50p -5.50%
Amec Foster Wheeler (AMFW) 935.00p -4.35%
Synergy Health (SYR) 1,746.00p -4.17%
Fidelity China Special Situations (FCSS) 166.90p -4.08%
Vedanta Resources (VED) 587.50p -3.61%
Tate & Lyle (TATE) 579.50p -3.34%
Cable & Wireless Communications (CWC) 66.80p -2.91%
ICAP (IAP) 553.00p -2.30%
Marston's (MARS) 169.10p -1.86% |
| | UK Event Calendar | | Thursday 28 May
INTERIMS
Lakehouse
INTERIM DIVIDEND PAYMENT DATE
Wetherspoon (J.D.)
INTERIM EX-DIVIDEND DATE
Avingtrans, Baronsmead VCT, Baronsmead VCT 2, Bellway, Britvic, Focusrite, Henderson European Focus Trust, Impax Asset Management Group, Keystone Inv Trust, Marston's, Matchtech Group, Titon Holdings, Town Centre Securities, Zoopla Property Group (WI)
QUARTERLY EX-DIVIDEND DATE
Canadian General Investments Ltd., HICL Infrastructure Company Ltd, Imperial Tobacco Group, Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Economic Sentiment Indicator (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
GMS
Global Investment House K.P.S.C. GDR (Reg S)
FINALS
Gable Holdings Inc., Helical Bar, Infinis Energy, PayPoint, Porta Communications , Tate & Lyle
SPECIAL DIVIDEND PAYMENT DATE
Amlin
SPECIAL EX-DIVIDEND PAYMENT DATE
Graphite Enterprise Trust, Premier Energy & Water Trust
AGMS
Access Intelligence, Action Hotels, Alba Mineral Resources, Allied Minds , Berkeley Mineral Resources, Centralnic Group , Electric Word, F&C Commercial Property Trust Ltd., Fair Oaks Income Fund Limited , Foresight VCT, Foresight VCT Infrastructure Shares, Foresight VCT Planned Exit Shares, Galasys, Kenmare Resources, Metminco Ltd., Mincon Group , Netplay TV, North American Income Trust (The), Northbridge Industrial Services, Octopus AIM VCT 2, Powerflute Oyj (DI), Schroder Income Growth Fund, Smart Metering Systems, Teathers Financial , Toumaz Limited, Trap Oil Group, Travis Perkins
TRADING ANNOUNCEMENTS
IG Group Holdings, IG Group Holdings
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
GDP (output, income & expenditure) (09:30)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Amlin, Capita, Cenkos Securities, Croda International, Informa, Intu Properties, Polypipe Group , Servelec Group , SQS Software Quality Systems AG
FINAL EX-DIVIDEND DATE
Alkane Energy, Amec Foster Wheeler, Andrews Sykes Group, Cable & Wireless Communications, Capital & Counties Properties , Central Asia Metals, DCC, Dignity, Dillistone Group, Frenkel Topping Group, Graphite Enterprise Trust, Great Portland Estates, Hill & Smith Holdings, Hilton Food Group, Huntsworth, Inchcape, Kakuzi Ltd., Manx Telecom , Marks & Spencer Group, Maven Income & Growth 2 VCT, Menzies(John), Michelmersh Brick Holdings, Mincon Group , NMC Health, Pacific Assets Trust, Premier Farnell, Soco International, Spectris, Stobart Group Ltd., Tandem Group, Tarsus Group, TLA Worldwide , UTV Media, Whitbread
Q1
Alpha Bank GDR (Reg S) USD, Public Power GDR SA (Reg S), Signet Jewelers Ltd.
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip back as optimism over Greece deal is quashed European stocks slipped into the red in early trading, giving back some of the gains from the previous session as optimism about a possible deal between Greece and its creditors waned amid conflicting headlines.
By 0915 BST, the benchmark Stoxx Europe 600 index and Germany's DAX were both down 0.5%, while France's CAC was 0.7% weaker.
Stocks racked up healthy gains on Tuesday after a Greek official said that the country had started to draw up a staff-level agreement with its creditors that would include a low target for the primary surplus in the first year and no recessionary measures. It was also said that the agreement would include a long-term solution on Greek debt and secure the country's bank deposits.
However, European Central Bank policymaker Ewald Nowotny played down the Greek government's optimism that a deal is near and said it was still not possible to accept Greece's bonds as security for central bank credit.
"For us, it is quite clear that we have certain conditions to be met. The one condition is ... whether we can accept for instance Greek assets, Greek bonds, as collateral. The answer is, for the time being: No," Nowotny told CNBC television.
German Finance Minister Wolfgang Schaeuble, meanwhile, made it clear that he did not share Athens' view on the matter either.
"We've been hearing a lot of positive news from Greece - and that's good - but in essence, the negotiations have not progressed much," he told Germany's ARD television.
"Whether you believe progress has actually been made depends entirely on which officials you choose to listen to, which does confuse matters somewhat," said Craig Erlam, senior market analyst at Oanda.
"While many people were sceptical yesterday when a Greek official claimed that creditors had started crafting a staff level accord, markets did respond very positively to the reports with stock markets surging shortly after the remarks. People became increasingly skeptical when the details of the agreement were released and appeared very favourably for Greece including debt relief, no wage or pension cuts and an investment package," he added.
In corporate news, International Consolidated Airlines Group said on Thursday that its €2.55 per share takeover offer for Aer Lingus is final and won't be increased.
Shares in Tate & Lyle slid after the company posted a 30% drop in full-year pre-tax profit and said it expects earnings and dividends to be flat this year.
Europe's biggest home improvement retailer, Kingfisher, rose 3% after it reported a rise in first-quarter profit thanks to a strong performance at Screwfix.
In terms of sectors, miners were under pressure as commodity prices took a hit from the stronger dollar. When the dollar strengthens, it depresses commodities priced in the greenback as they become more expensive for other currency holders.
The G-7 meeting in Dresden will continue on Thursday, as leaders of the seven wealthiest nations discuss the health of the global economy, financial regulations and of course, Greece. |
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| | US Market Report | | US close: tech sector leads rebound, Nasdaq at record high US stocks closed higher on Wednesday, eradicating most of the previous session's losses.
At close, the Dow Jones Industrial Average was up 121.45 points, while the S&P 500 gained 19.28 points and the Nasdaq 73.84 points, marking a record high. Sector-wise, technology stocks and retailers provided the biggest lift.
The dollar reversed early losses to gain 0.52% against the yen, 0.24% against the pound and 0.28% against the euro.
The US 10 year Treasury yield traded close to 2.15%, up slightly from the 2.14% seen late on Tuesday.
Weekly mortagage applications fell 1.6% for the week ended 22 May, as refinancing was hampered by higher rates.
"Rates have made several attempts to move lower after spiking in early May, but each time they've quickly run out momentum," noted Matthew Graham of Mortgage News Daily.
"Underlying market conditions are once again signaling a bounce attempt is underway, but it's not safe to plan on the good times continuing until/unless we see several days in the near future with even stronger improvements," he added.
Earnings were under investor scrutiny given the absence of major economic data. Jeweller and specialty retailer Tiffany & Co surged after sales and profit fell less than expected. Fellow retailers Fossil Group and Coach Inc were also in the red.
Hormel Foods gained after announcing late on Tuesday it will buy Applegate Farms for approximately $775m.
Luxury lifestyle group Michael Kors tumbled after its fourth quarter sales and revenue missed estimates, while cloud software company Workday slumped after saying late on Tuesday that its first quarter loss widened.
In international markets, European stocks rebounded from Tuesday's selloff, buoyed by news that Greece may have reached a deal with its creditors, while Asia closed mixed.
Gold futures slipped 0.11% to $1186.50 an ounce, while crude-oil futures declined 0.69% to $57.63 a barrel.
S&P 500 - Risers
Broadcom Corp. (BRCM) $57.13 +21.40%
Tiffany & Co. (TIF) $94.54 +10.55%
Avago Technologies Ltd. (AVGO) $141.49 +7.76%
Frontier Communications Co. (FTR) $5.29 +7.52%
Nvidia Corp. (NVDA) $21.84 +5.35%
Vertex Pharmaceuticals Inc. (VRTX) $127.80 +4.22%
Sandisk Corp. (SNDK) $69.01 +3.95%
Viacom Inc. Class B (VIAB) $68.35 +3.65%
CBS Corp. (CBS) $62.65 +3.25%
Hormel Foods Corp. (HRL) $58.43 +3.21%
S&P 500 - Fallers
Fossil Group Inc (FOSL) $70.75 -6.50%
Coach Inc. (COH) $35.35 -3.31%
Avon Products Inc. (AVP) $6.70 -2.62%
Cablevision Systems Corp. (CVC) $25.32 -2.09%
Noble Energy Inc. (NBL) $43.32 -1.88%
GameStop Corp. (GME) $39.45 -1.82%
Chipotle Mexican Grill Inc. (CMG) $612.70 -1.52%
Integrys Energy Group Inc. (TEG) $71.97 -1.32%
Keurig Green Mountain Inc (GMCR) $88.68 -1.31%
ONEOK Inc. (OKE) $43.10 -1.26%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $47.61 +2.19%
Apple Inc. (AAPL) $132.04 +1.87%
Intel Corp. (INTC) $33.72 +1.86%
Visa Inc. (V) $69.49 +1.39%
Goldman Sachs Group Inc. (GS) $209.12 +1.33%
Cisco Systems Inc. (CSCO) $29.31 +1.24%
International Business Machines Corp. (IBM) $172.07 +1.14%
JP Morgan Chase & Co. (JPM) $66.47 +1.13%
Home Depot Inc. (HD) $112.11 +1.06%
Unitedhealth Group Inc. (UNH) $119.43 +1.01%
Dow Jones I.A - Fallers
Nike Inc. (NKE) $102.83 -0.57%
Exxon Mobil Corp. (XOM) $85.10 -0.29%
Chevron Corp. (CVX) $103.06 -0.22%
American Express Co. (AXP) $80.13 -0.08%
General Electric Co. (GE) $27.52 -0.00%
Nasdaq 100 - Risers
Broadcom Corp. (BRCM) $57.13 +21.40%
Avago Technologies Ltd. (AVGO) $141.49 +7.76%
Nvidia Corp. (NVDA) $21.84 +5.35%
Vertex Pharmaceuticals Inc. (VRTX) $127.80 +4.22%
Sandisk Corp. (SNDK) $69.01 +3.95%
Viacom Inc. Class B (VIAB) $68.35 +3.65%
Nxp Semiconductors Nv (NXPI) $110.68 +3.45%
Micron Technology Inc. (MU) $28.13 +2.96%
KLA-Tencor Corp. (KLAC) $59.97 +2.95%
Texas Instruments Inc (TXN) $55.98 +2.60%
Nasdaq 100 - Fallers
Check Point Software Technologies Ltd. (CHKP) $83.81 -2.30%
Keurig Green Mountain Inc (GMCR) $88.68 -1.31%
Charter Communications Inc. (CHTR) $178.25 -0.85%
Kraft Foods Group, Inc. (KRFT) $84.33 -0.79%
Wynn Resorts Ltd. (WYNN) $103.55 -0.55%
Sba Communications Corp. (SBAC) $112.74 -0.17%
O'Reilly Automotive Inc. (ORLY) $222.56 -0.12%
F5 Networks Inc. (FFIV) $125.96 -0.10% |
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| | Newspaper Round Up | | Thursday newspaper round-up: Broadcom, Thomas Cook, Bank of England According to The Wall Street Journal, chipmaker Broadcom is in "advanced talks" to be taken over by peer Avago Technologies in a deal worth $35m.
Thomas Cook's former boss Harriet Green, who left the travel group in November, is to donate one third of her multimillion-pound share payout to a charity chosen by the parents of two children who died in a holiday resort in Corfu, The Times said.
The Bank of England's former chief currency dealer, Martin Mallett, had reportedly been sent emails that "played a key role in the rigging of lending rates between banks", writes The Guardian.
McDonald's is to stop reporting monthly sales figures from July as the fast-food chain continues its turnaround, writes The Wall Street Journal.
US Treasury Secretary Jack Lew has said that a "blow-up" of the Greek debt crisis could cause financial reverberations across the world, writes The Times.
Stocks in Japan were on track to notch their longest winning streak since the 1980s on Thursday as the yen fell to its lowest against the dollar since 2002, writes the Financial Times. The Nikkei was rising for the 10th straight day.
Moves by Samsung to increase heir apparent Jay Y Lee's stake in the group "underscore corporate-governance concerns that critics say continue to plague South Korea", writes The Wall Street Journal.
Tesco has been relegated out of the top 100 brand value league, according to research agency Millward Brown, following a tough year, The Guardian reports. It was ranked as the 17th most valuable global brand just five years ago.
"Norway's $916bn oil fund will consider pulling billions of dollars of investments out of coal in a move that threatens European utilities using the fossil fuel to generate power," the Financial Times said. | | |
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