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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 surge as Conservatives look set for election win London stocks made strong gains on Friday as investors cheered signs that Prime Minister David Cameron's Conservative Party is on track to govern Britain for another five years. The FTSE 100 was up 1.5% at 6,989.60 in early trade, with banks and utility stocks leading the charge.
Lloyds Banking Group, Royal Bank of Scotland and Barclays jumped ahead. Labour had threatened to break up the banks and potentially hit them with a one-off bonus tax and a higher bank levy. Shares in utilities Centrica and SSE also rose sharply as the threat of an energy price cap by Labour dissipated.
The Conservatives looked set to win 329 seats in Parliament out of a possible 650, which would give the party a working majority. Tensions had been running high in the run-up to the election, as opinion polls suggested the race would be tight, with a hung parliament the most likely outcome.
"As David Cameron is set to retain the keys to No. 10, with an increased number of Conservative MPs, the way ahead in economic policy terms looks very much like 'steady as she goes', especially since they look likely to govern alone," said Chris Beauchamp, senior market analyst at IG.
"For investors, the results from last night mean that they can cease worrying about the UK economy, and focus on the other areas of concern, like Greece and whether the Fed will hike rates this year," he added.
On the economic agenda, market participants are likely to eye the release of US nonfarm payrolls and the unemployment rate later in the day, although the data may well be overshadowed by euphoria over the election result.
Shares in Man Group rose sharply after the company said funds under management increased 7% in the first quarter of 2015.
InterContinental Hotels Group was also on front foot, as it said first-quarter revenues per available room, the key metric for the industry, were up 5.9% in comparable terms.
British engineering firm maintained its full-year guidance for 2015 on Friday, but warned that revenue for could take a 350m hit as a result of unfavourable currency rates.
BG Group said on Friday that its core earnings fell a staggering 41% in the first quarter compared to the same period a year earlier, weighed by depressed oil and gas prices.
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techMARK 3,248.51 +1.64%
FTSE 100 6,993.04 +1.54%
FTSE 250 17,903.11 +2.61%
FTSE 100 - Risers
Centrica (CNA) 275.10p +6.88%
Babcock International Group (BAB) 1,054.00p +6.46%
Lloyds Banking Group (LLOY) 87.12p +6.08%
Capita (CPI) 1,227.00p +5.78%
St James's Place (STJ) 945.50p +5.35%
Royal Bank of Scotland Group (RBS) 349.80p +5.33%
Persimmon (PSN) 1,734.00p +4.90%
SSE (SSE) 1,640.00p +4.86%
Barratt Developments (BDEV) 537.00p +4.68%
Barclays (BARC) 260.10p +4.50%
FTSE 100 - Fallers
Royal Dutch Shell 'A' (RDSA) 2,035.00p -0.39%
Pearson (PSON) 1,304.00p -0.38%
Unilever (ULVR) 2,833.00p -0.11%
Rolls-Royce Holdings (RR.) 1,016.00p -0.10%
FTSE 250 - Risers
Ladbrokes (LAD) 116.30p +10.13%
Berkeley Group Holdings (The) (BKG) 2,709.00p +8.75%
Savills (SVS) 899.00p +7.92%
Countrywide (CWD) 574.00p +7.69%
Laird (LRD) 380.40p +6.50%
Crest Nicholson Holdings (CRST) 458.30p +5.70%
Electrocomponents (ECM) 257.60p +5.66%
Shaftesbury (SHB) 860.50p +5.65%
William Hill (WMH) 394.20p +5.29%
TR Property Inv Trust (TRY) 310.50p +5.18%
FTSE 250 - Fallers
Euromoney Institutional Investor (ERM) 1,167.00p -1.19%
Infinis Energy (INFI) 188.50p -0.26%
Brit (BRIT) 278.50p -0.18%
Pace (PIC) 413.40p -0.14%
NB Global Floating Rate Income Fund Ltd GBP (NBLS) 96.35p -0.10%
British Empire Securities & General Trust (BTEM) 541.00p -0.09%
FTSE TechMARK - Risers
Ricardo (RCDO) 870.00p +3.33%
NCC Group (NCC) 215.00p +2.99%
Skyepharma (SKP) 275.75p +2.99%
Oxford Biomedica (OXB) 12.00p +2.13%
Sepura (SEPU) 147.00p +1.38%
KCOM Group (KCOM) 92.25p +1.37%
SDL (SDL) 467.75p +0.97%
Innovation Group (TIG) 28.50p +0.89%
Spirent Communications (SPT) 86.75p +0.87%
Dialight (DIA) 715.00p +0.63%
FTSE TechMARK - Fallers
Vectura Group (VEC) 154.25p -0.80% |
| | UK Event Calendar | | Friday 8 May
INTERIMS
Numis Corporation
INTERIM DIVIDEND PAYMENT DATE
Begbies Traynor Group, Chrysalis VCT, Edge Performance VCT 'H' Shares, Nimrod Sea Assets Limited, St Ives, Tracsis
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Current Account (GER) (07:00)
Industrial Production (GER) (11:00)
Non-Farm Payrolls (US) (13:30)
Retail Price Index (GER) (09:00)
Unemployment Rate (US) (13:30)
Wholesales Inventories (US) (15:00)
IMSS
Laird, Pendragon
SPECIAL DIVIDEND PAYMENT DATE
Chrysalis VCT
AGMS
Afarak Group (DI), BBA Aviation, China Chaintek United Co. Limited, Clarke (T.), Clarkson, John Laing Infrastructure Fund Ltd, Kea Petroleum, Laird, Man Group, Morgan Advanced Materials , Pendragon, Rolls-Royce Holdings, RSA Insurance Group, Starwood European Real Estate Finance Ltd
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
FINAL DIVIDEND PAYMENT DATE
Berendsen, BlackRock World Mining Trust, Capital Drilling Ltd. (DI), Chemring Group, Fisher (James) & Sons, Greggs, International Personal Finance, Meggitt, Moneysupermarket.com Group, SEGRO, Smurfit Kappa Group, Spirent Communications, XLMedia
Q1
Afarak Group (DI), BG Group, InterContinental Hotels Group |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Traders digest UK election, Bunds bounce Shares began the morning trading higher as markets awaited Friday's monthly US jobs report and digested the surprisingly strong showing by Britain's Conservatives in the 7 May elections. Key for the European Union is the fact that a referendum on continued membership is now nigh inevitable. Markets and political analysts will also be watching closely to see Westminster's plans for greater devolution to Scotland.
As of 09:10 the Dax-30 was 75.95 points higher at 11,483.57 while the Cac 40 was gaining 28.99 points to 4,996.21 points.
The latest consensus estimate for the US non-farm payrolls number for April was 230,000, despite the impact of positive calendar and seasonal effects.
Acting as a backdrop, German Bunds were bouncing back slightly following the steep sell-off seen over the last few days. The yield on the benchmark 10-year German government debt issue was six basis points lower to 0.54%.
From a sector standpoint and within the DJ Stoxx 600 the best performance was to be seen within the following industrial groups: Travel&Leisure (3.37%), Real Estate (3.26%) and Telecommunications (1.24%).
Telecom Italia reported that pressure on its domestic business eased even as it announced a 7.7% drop in its first quarter core profits.
In work-day adjusted terms, German industrial production rose by 0.1% year-on-year in March, as expected.
Spain's industrial output soared in March, rising by 2.9% year-on-year (consensus: 1.3%).
The euro/dollar was edging lower by 0.10% to 1.1236. |
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| | US Market Report | | US close: Dow gains over 80 points on positive economic data US markets edged higher on Thursday as turbulence in the bond markets in the US and in Europe looked to settle down. The Dow Jones Industrial Average closed up 82.08 points to 17,924.06, while the S&P 500 and the Nasdaq gained eight and 22 points respectively
Comments from Federal Reserve policymaker Charles Evans were being closely monitored by investors after he said that the central bank could lift interest rates at any meeting.
"We are going into each meeting from now on talking about what the policy rate should be and at the end of every meeting, it's possible that we'll decide to begin the renormalisation process," he said in an interview on CNBC.
Nevertheless, he reiterated his call for the Fed to wait until 2016 to tighten policy. Analysts also said market sentiment was also dampened by renewed losses in European sovereign debt markets and the recent rally in oil futures and what that might mean for inflation in the Eurozone.
In economic data, initial unemployment claims rose by 3,000 to 265,000 over the week ended on 2 May, according to the Department of Labour, less than the 278,000 expected by the market.
Continuing unemployment claims for the previous week ended 25 April, including those which have not been filed for the first time, slipped by 28,000 to a new 15-year low of 2.228m.
Labour-market data was under the spotlight ahead of the all-important US unemployment report due Friday which is expected to show a 230,000 increase in non-farm payrolls last month, nearly double the 126,000 registered in March.
However, analyst Jesse Hurwitz from Barclays said: "The solid progress in labour market separations evidenced in this morning's report, for both initial and continuing unemployment, supports our view that non-farm payroll growth should recover to 250k in tomorrow's April employment report."
In company news, Whole Foods Market tanked 9.74% after leaving investors less than satisfied. Overnight, the company reported second-quarter sales of $3.65bn, up from $3.32bn in the same period of last year but short of the $3.71bn expected by analysts.
Stock in internet retailer Alibaba surged 7.50% after the company beat profit and revenues estimates for its fiscal fourth quarter.
Zynga also jumped 7.28% as the online game group beat profit forecasts in the first quarter and unveiled plans to cut 364 jobs, equal to 18% of its staff.
Tesla Motors climbed 2.76% after posting better-than-expected first quarter results on Wednesday.
The dollar gained 0.29% against the yen and 0.65% against the yen but lost 0.11% against the pound, while gold futures shed 0.69% to $1,182.10.
Oil prices plummeted, with both West Texas Intermediate and Brent crude losing 3.57% to $58.83 a barrel and $65.43 a barrel respectively.
S&P 500 - Risers
Yahoo! Inc. (YHOO) $43.87 +5.30%
Alexion Pharmaceuticals Inc. (ALXN) $162.92 +5.10%
Avago Technologies Ltd. (AVGO) $122.48 +4.89%
Celgene Corp. (CELG) $112.01 +3.09%
Southwest Airlines Co. (LUV) $42.10 +2.98%
Delta Airlines Inc. (DAL) $45.36 +2.95%
Goodyear Tire & Rubber Co. (GT) $28.79 +2.89%
Weyerhaeuser Co. (WY) $32.04 +2.79%
Lennar Corp. Class A (LEN) $46.47 +2.61%
Intercontinental Exchange Inc (ICE) $233.09 +2.57%
S&P 500 - Fallers
Denbury Resources Inc. (DNR) $7.61 -11.04%
Whole Foods Market Inc. (WFM) $43.07 -9.74%
Keurig Green Mountain Inc (GMCR) $98.16 -9.18%
Teradata Corp. (TDC) $41.80 -6.99%
Noble Corporation plc (NE) $16.41 -6.60%
Ensco Plc. (ESV) $25.52 -6.11%
Peabody Energy Corp. (BTU) $4.44 -5.33%
National Oilwell Varco Inc. (NOV) $51.97 -4.68%
Diamond Offshore Drilling Inc. (DO) $33.21 -4.60%
Windstream Holdings Inc (WIN) $9.83 -4.38%
Dow Jones I.A - Risers
Home Depot Inc. (HD) $110.04 +1.60%
Visa Inc. (V) $66.58 +1.39%
Nike Inc. (NKE) $101.45 +1.23%
Unitedhealth Group Inc. (UNH) $114.76 +1.12%
Microsoft Corp. (MSFT) $46.70 +0.91%
JP Morgan Chase & Co. (JPM) $64.50 +0.91%
General Electric Co. (GE) $27.05 +0.90%
E.I. du Pont de Nemours and Co. (DD) $73.33 +0.84%
United Technologies Corp. (UTX) $116.04 +0.83%
Travelers Company Inc. (TRV) $102.60 +0.82%
Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $87.61 -0.66%
Caterpillar Inc. (CAT) $86.43 -0.64%
Cisco Systems Inc. (CSCO) $28.81 -0.57%
Walt Disney Co. (DIS) $109.26 -0.42%
Chevron Corp. (CVX) $107.57 -0.35%
Procter & Gamble Co. (PG) $80.21 -0.24%
Nasdaq 100 - Risers
Yahoo! Inc. (YHOO) $43.87 +5.30%
Activision Blizzard Inc. (ATVI) $24.41 +5.22%
Alexion Pharmaceuticals Inc. (ALXN) $162.92 +5.10%
Avago Technologies Ltd. (AVGO) $122.48 +4.89%
Celgene Corp. (CELG) $112.01 +3.09%
Tesla Motors Inc (TSLA) $236.80 +2.76%
Nxp Semiconductors Nv (NXPI) $100.74 +2.28%
TripAdvisor Inc. (TRIP) $78.46 +2.16%
Monster Beverage Corp (MNST) $143.49 +2.14%
Broadcom Corp. (BRCM) $46.42 +2.02%
Nasdaq 100 - Fallers
Whole Foods Market Inc. (WFM) $43.07 -9.74%
Keurig Green Mountain Inc (GMCR) $98.16 -9.18%
Priceline Group Inc (PCLN) $1,213.49 -4.01%
Twenty-First Century Fox Inc Class A (FOXA) $32.78 -2.67%
Micron Technology Inc. (MU) $27.26 -2.61%
Discovery Communications Inc. Class A (DISCA) $31.50 -1.56%
Viacom Inc. Class B (VIAB) $66.71 -1.55%
Mattel Inc. (MAT) $26.83 -1.36%
Mylan Inc. (MYL) $70.39 -0.93% |
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| | Newspaper Round Up | | Friday newspaper round-up: Cameron, Greece, Heathrow David Cameron was heading for another term in Downing Street early today as the election results confirmed a shock exit poll that put him only seven seats short of an overall majority. So devastating were the results for Labour and the Lib Dems that the futures of both parties' leaders are in doubt. Shortly after 5am, Ed Miliband said he was "deeply sorry for what happened". He said the "next government faced a huge responsibility of keeping our country together". - The Times Tourists to Greek islands will be forced to pay an 18 per cent tax on hotel and restaurant bills so that Athens can raise money to appease Brussels. The plans were denounced as "catastrophic" by heads of tourism and came as officials at the European Central Bank drew up plans for a parallel currency for Greece as the country hurtles towards bankruptcy. Yves Mersch, a member of the bank's executive board, admitted that there were preparations for a Greek default. - The Times
The head of the commission in charge of deciding whether Gatwick or Heathrow should be allowed to expand is to launch a fresh public consultation, according to reports. Sir Howard Davies, chairman of the Airports Commission, will tell both airports today that he wants to hear the public's opinion on how air quality will be affected by the two proposals before he makes his final ruling later this year. - The Daily Telegraph
Some top US former military leaders have called for Congress to give president Barack Obama the fast-track authority he needs to complete ambitious trade deals in both the Pacific and Atlantic, warning of "harmful strategic consequences" if they are not successful. - Financial Times
A wave of turmoil is sweeping through sovereign bond markets, setting off the most dramatic gyrations seen in recent years and threatening to spill over into over-heated equity markets. Yields on German 10-year Bunds spiked violently by almost 20 basis points to 0.78pc in early trading on Thursday as funds scrambled to unwind the so-called "QE trade" in Europe, with powerful ripple effects reaching Japan, Australia, Brazil and even US Treasuries. - The Daily Telegraph | | |
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