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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: Ahead of US data, stocks pare gains on Greek worries Stocks pared strong early gains ahead of a raft of US economic data scheduled for release in the afternoon amid continued worries over the situation in Greece.
As of 08:56 the FTSE 100 was higher by 24.21 points to 7,008.64.
The top flight index snapped higher at the start of the session following the release of somewhat better than expected readings on China's manufacturing sector.
The 'official' Chinese manufacturing sector purchasing managers' index increased to a reading of 50.2 from 50.1 in April, as expected. A similar survey from HSBC rose to 49.2, from 48.9 in the month before (consensus: 49.2).
Julian Evans Pritchard at Capital Economics pointed out how both indices showed a rise in the employment and new orders components.
"Overall, today's PMI readings add weight to our view that the economy is finally turning a corner. With more policy support likely in coming months we are optimistic that growth will begin to pick-up, at least over the short-run."
A raft of economic data was scheduled for release later in the day Stateside. That included data on personal income and spending and the latest reading on the state of US manufacturing, courtesy of the ISM institute.
Acting as a backdrop, investors were awaiting the latest US non-farm payrolls data due out on Friday, which were expected to be key in shaping expectations for Fed rate hikes this year.
The outlook for Greece darkened on Sunday after the country's prime minister, Alexis Tsipras, accused bailout monitors of seeking to impose "harsh punishment" on Athens. That came as a €300m payment to the IMF, due on Friday, loomed closer.
Drug giants announce latest cancer breakthroughs
Shares in AstraZeneca rose 2.5% on Monday following positive takeaways from the annual meeting of the American Society of Clinical Oncology, during which the company presented preliminary data for one of its lung cancer drugs.
UK Financial Investments, the state investment vehicle, has lowered its stake in Lloyds to 18.99% from the 19.93% it held on 12 May. That comes on the heels of continued market speculation regarding a sale of shares to the public with the aim of returning the lender wholly to private ownership - possibly as early as September.
Investment bank Stifel Financial Corp is reportedly in advanced talks to acquire Barclays' US wealth management unit in a deal that could come as early as next week.
Playtech has signed a deal to acquire Plus 500 at 400p per share in move described by the company as "transformational". The acquisition will be immediately enhancing.
Defence and aerospace group Ultra Electronics Holdings has reached a deal to acquire the electronics products division of Kratos Defense and Security Solutions for $265m (£173.5m). |
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techMARK 3,317.27 +0.40%
FTSE 100 6,982.06 -0.03%
FTSE 250 18,176.91 +0.12%
FTSE 100 - Risers
Ashtead Group (AHT) 1,159.00p +3.48%
AstraZeneca (AZN) 4,438.50p +1.51%
Lloyds Banking Group (LLOY) 88.92p +1.31%
St James's Place (STJ) 923.00p +1.26%
Compass Group (CPG) 1,158.00p +1.22%
Hikma Pharmaceuticals (HIK) 2,103.00p +1.20%
Taylor Wimpey (TW.) 185.50p +1.09%
Dixons Carphone (DC.) 480.40p +1.05%
Shire Plc (SHP) 5,690.00p +0.98%
InterContinental Hotels Group (IHG) 2,768.00p +0.98%
FTSE 100 - Fallers
Glencore (GLEN) 282.15p -2.01%
Fresnillo (FRES) 745.00p -1.91%
Weir Group (WEIR) 1,989.00p -1.73%
Anglo American (AAL) 1,010.00p -1.56%
Kingfisher (KGF) 365.20p -1.30%
Associated British Foods (ABF) 2,989.00p -1.29%
BHP Billiton (BLT) 1,362.50p -1.23%
Standard Chartered (STAN) 1,034.50p -1.10%
Randgold Resources Ltd. (RRS) 4,690.00p -0.95%
Royal Dutch Shell 'B' (RDSB) 1,955.50p -0.91%
FTSE 250 - Risers
Renishaw (RSW) 2,465.00p +2.71%
Cairn Energy (CNE) 174.00p +2.59%
Fidelity China Special Situations (FCSS) 174.00p +2.41%
Greencore Group (GNC) 336.60p +2.25%
Imagination Technologies Group (IMG) 224.10p +2.24%
PayPoint (PAY) 966.50p +2.17%
Synthomer (SYNT) 357.60p +2.14%
Man Group (EMG) 182.10p +2.02%
St. Modwen Properties (SMP) 452.50p +2.01%
Allied Minds (ALM) 626.50p +1.87%
FTSE 250 - Fallers
Playtech (PTEC) 803.00p -3.25%
Soco International (SIA) 180.30p -2.54%
Amec Foster Wheeler (AMFW) 926.50p -2.47%
Kaz Minerals (KAZ) 245.80p -2.31%
Vedanta Resources (VED) 574.00p -2.21%
Lonmin (LMI) 138.00p -2.13%
Acacia Mining (ACA) 298.50p -2.10%
Synergy Health (SYR) 1,787.00p -1.97%
Premier Oil (PMO) 160.10p -1.90%
Ocado Group (OCDO) 358.00p -1.78%
FTSE TechMARK - Risers
Sepura (SEPU) 167.00p +2.45%
SDL (SDL) 413.00p +1.79%
Innovation Group (TIG) 29.25p +1.74%
Skyepharma (SKP) 289.25p +1.49%
NCC Group (NCC) 214.25p +1.06%
Consort Medical (CSRT) 965.00p +1.05%
Ricardo (RCDO) 936.50p +0.70%
RM (RM.) 146.00p +0.69%
Oxford Biomedica (OXB) 10.00p +0.50%
Spirent Communications (SPT) 89.75p +0.28%
FTSE TechMARK - Fallers
UCW Limited (UCW) A$0.01 -13.33%
Sarossa (SARS) 1.71p -4.20%
Oxford Instruments (OXIG) 1,070.00p -1.65%
Anite (AIE) 98.75p -0.50%
Torotrak (TRK) 8.00p -0.31%
Vectura Group (VEC) 177.50p -0.28%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 201.14 -0.27%
KCOM Group (KCOM) 96.25p -0.26%
XP Power Ltd. (DI) (XPP) 1,660.00p -0.12% |
| | UK Event Calendar | | Monday 01 June
INTERIM DIVIDEND PAYMENT DATE
Smart (J) & Co.
QUARTERLY PAYMENT DATE
JPMorgan Claverhouse Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
PMI Manufacturing (EU) (09:00)
PMI Manufacturing (GER) (08:55)
Retail Sales (GER) (07:00)
GMS
Euromoney Institutional Investor, Imaginatik, MXC Capital
FINALS
Camco Clean Energy, Circle Oil, GB Group, Global Brands S.A
ANNUAL REPORT
Porta Communications
AGMS
Aeci 5 1/2% Prf, Billington Holdings, CPP Group, Fitbug Holdings, IGas Energy, Keywords Studios, Silence Therapeutics
TRADING ANNOUNCEMENTS
Jiasen International Holdings Ltd
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
Action Hotels, BAE Systems, Belvoir Lettings, North American Income Trust (The), Smart Metering Systems, Travis Perkins
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks led higher by pharmaceuticals as AstraZeneca, Roche gain European stocks rose in early trade, led by gains in the pharmaceuticals sector, although investors continued to keep an eye out for any headlines on Greece as the deadline for its debt repayment looms.
By 0900 BST, the benchmark Stoxx Europe 600 index was up 0.8%, France's CAC 40 was 0.9% higher and Germany's DAX was up 0.4%.
"European equities are starting the new trading week on a positive note showing hesitant signs of trying to stage an early rebound after Friday's hefty losses," said Markus Huber, senior analyst at Peregrine & Black.
In terms of sectors, pharmaceuticals lent support. Shares in London-listed AstraZeneca rose 2.5%, topping the FTSE 100 leader board following a positive update on one of its lung cancer drugs.
Meanwhile, Switzerland's Roche was also on the front foot after saying its investigational cancer immunotherapy atezolizumab was shown to shrink tumours in two-thirds of people with the most common type of lung cancer, when combined with chemotherapy.
Despite the positive tone, concerns about Greece were never far from investors' minds as the country remains deadlocked in its negotiations with international creditors. It is due to pay back €300m in loans to the International Monetary Fund this Friday but it's struggling to reach a deal with the European Commission, the European Central Bank and the IMF to unblock vital funds due under its second bailout in 2012.
"It has been suggested that Greece could take all four repayments due to the IMF in June, totaling €1.6 bn, and pay them at the end of the month, which the IMF has suggested it may be open to," said Craig Erlam, senior market analyst at Oanda. "While that would once again nudge the can down the road, I can't see what they would hope to achieve in a few more weeks that hasn't proved possible in four months."
Erlam added: "The same differences still appear to be preventing a deal being done including proposed VAT changes, labour market and pension reform. These are the so-called red lines for Greece but it would appear a similar stance is being taken by the institutions and if a deal is going to happen, one of them needs to budge. The longer this goes on, the more we're going to have to prepare for a Greek default and everything that comes with it."
Investors were also bracing for a busy week. As well as Greece's debt repayment deadline on Friday, market participants will eye rate announcements from the European Central Bank and the Bank of England, and the all-important non-farm payroll figures for May due out of the US. |
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| | US Market Report | | US close: stocks end week on losses as data disappoints US stocks closed lower on Friday, as a raft of underwhelming data reports disappointed investors and revealed that the economy contracted in the first quarter for the second consecutive year.
The main indexes finished the week on a slight loss, but gained on a monthly basis. At close, the Dow Jones Industrial Average was down points 115.11, while the S&P 500 and the Nasdaq lost 13.40 and 27.95 points respectively.
Revised data showed US gross domestic product (GDP) shrank at an annualised pace of 0.7% in the first three months of the year. The preliminary estimate from the Department of Commerce was a contraction of 0.2%, while economists had been expecting a fall of 0.9%.
However, analysts said the disappointing reading did not necessarily represent the bigger picture. "While the impact of declining investment in the energy sector and a deteriorating trade balance is still highly visible, the rest of the U.S. economy is probably doing OK," said Scott Anderson, chief economist of Bank of the West.
US personal consumption grew at a 1.8% annualised rate in the first quarter, revised down from an initial estimate of 1.9%, falling short of the 2% gain analysts had expected.
The Chicago Purchasing Managers' Index fell sharply in May, dropping from 52.3 in April to 46.2, missing analysts' expectations for a slight increase to 53.
US consumer confidence fell to a six-month low in May, according to the University of Michigan Index, which fell to 90.7 in May compared with a final April level of 95.9. Analysts had expected a final May reading of 89.5, compared with a preliminary print of 88.6.
Google traded lower as it announced Android Pay, a new mobile payment service set to directly compete with Apple Pay. Apple was also in the red on the news.
Chip maker Altera Corp surged after Intel Corp revealed it was nearing a takeover deal.
In international markets, European stocks declined as mounting Greek uncertainty threatened to dampened risk appetite. The Shanghai Composite closed slightly lower, in fallout from Thursday's 6.5% plummet.
The dollar gained 0.11% higher against the yen, 0.18% against the pound and fell 0.32% against the euro, while gold futures rose 0.19% to $1,191.
Oil prices advanced, as West Texas Intermediate gained 4.23% to $60.12 a barrel, while Brent climbed 4.46% to $65.37 a barrel.
S&P 500 - Risers
Humana Inc. (HUM) $213.22 +19.49%
GameStop Corp. (GME) $43.66 +6.70%
Altera Corp. (ALTR) $48.99 +4.31%
Avago Technologies Ltd. (AVGO) $148.35 +4.19%
CIGNA Corp. (CI) $140.68 +3.54%
Eli Lilly and Company (LLY) $78.90 +3.26%
Denbury Resources Inc. (DNR) $7.38 +3.15%
Newfield Exploration Co (NFX) $37.81 +2.77%
Discovery Communications Inc. Class A (DISCA) $33.94 +2.69%
Anthem Inc (ANTM) $168.46 +2.58%
S&P 500 - Fallers
Bristol-Myers Squibb (BMY) $64.63 -6.54%
Cablevision Systems Corp. (CVC) $24.53 -3.01%
Freeport-McMoRan Inc (FCX) $19.67 -2.43%
TJX Companies Inc. (TJX) $64.39 -2.40%
PACCAR Inc. (PCAR) $63.63 -2.36%
Fastenal Co. (FAST) $41.55 -2.36%
Cummins Inc. (CMI) $136.06 -2.29%
CenturyLink Inc. (CTL) $33.29 -2.26%
Whole Foods Market Inc. (WFM) $41.29 -2.23%
Ryder System Inc. (R) $91.62 -2.21%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $61.09 +2.33%
Intel Corp. (INTC) $34.44 +1.25%
Pfizer Inc. (PFE) $34.83 +1.15%
Unitedhealth Group Inc. (UNH) $120.32 +0.59%
Exxon Mobil Corp. (XOM) $85.20 +0.11%
Cisco Systems Inc. (CSCO) $29.37 +0.07%
Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $78.42 -1.15%
General Electric Co. (GE) $27.32 -1.12%
Visa Inc. (V) $68.79 -1.11%
Boeing Co. (BA) $140.77 -1.10%
Goldman Sachs Group Inc. (GS) $206.27 -1.06%
International Business Machines Corp. (IBM) $169.91 -1.05%
Microsoft Corp. (MSFT) $46.97 -1.02%
Apple Inc. (AAPL) $130.44 -1.02%
Travelers Company Inc. (TRV) $101.21 -0.92%
3M Co. (MMM) $159.47 -0.87%
Nasdaq 100 - Risers
Altera Corp. (ALTR) $48.99 +4.31%
Avago Technologies Ltd. (AVGO) $148.35 +4.19%
Discovery Communications Inc. Class A (DISCA) $33.94 +2.69%
Mondelez International Inc. (MDLZ) $41.46 +2.45%
Charter Communications Inc. (CHTR) $178.93 +1.46%
Nxp Semiconductors Nv (NXPI) $112.34 +1.40%
Sirius XM Holdings Inc (SIRI) $3.85 +1.32%
eBay Inc. (EBAY) $61.35 +1.30%
Intel Corp. (INTC) $34.44 +1.25%
Broadcom Corp. (BRCM) $56.88 +1.12%
Nasdaq 100 - Fallers
PACCAR Inc. (PCAR) $63.63 -2.36%
Fastenal Co. (FAST) $41.55 -2.36%
Whole Foods Market Inc. (WFM) $41.29 -2.23%
Express Scripts Holding Co (ESRX) $87.34 -2.12%
Wynn Resorts Ltd. (WYNN) $100.82 -2.11%
Keurig Green Mountain Inc (GMCR) $86.37 -2.10%
Activision Blizzard Inc. (ATVI) $25.26 -1.81%
Western Digital Corp. (WDC) $97.47 -1.77%
Expedia Inc. (EXPE) $107.43 -1.65% |
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| | Newspaper Round Up | | Monday newspaper round-up: Greece, Growth, Cancer Greece's chances of striking a deal to access a much-needed €7.2bn in rescue aid looked even bleaker yesterday after Alexis Tsipras, prime minister, accused bailout monitors of making "absurd" demands and seeking to impose "harsh punishment" on Athens. - Financial Times
Growth, investment and recruitment at Britain's manufacturers have suffered a setback this year as the services sector continues to power ahead, raising fresh doubts about the country's long-awaited economic re-balancing. In a sign that Britain is returning to a two-speed economy, the EEF manufacturing body has cut its growth forecasts for the industry, just as the CBI celebrated "stellar" growth in the powerhouse services sector. - The Times
Many terminally ill cancer sufferers will be "cured" of the disease by a ground-breaking class of drugs described last night as heralding a new era in treatment. A British trial brought "spectacular" results, with tumours shrinking or disappearing completely in half of inoperable skin cancer patients. - Financial Times
British banks are combing through details of allegedly corrupt payments involving Fifa officials to assess whether they adhered to anti-money laundering and bribery rules. Barclays, Standard Chartered and HSBC are understood to be reviewing transactions worth hundreds of thousands of dollars, which were cited by US prosecutors last week as they indicted seven Fifa officials over bribery and corruption claims. - The Daily Telegraph
Hundreds of thousands of small businesses are facing the threat of fines for failing to comply with new legislation requiring them to provide staff with a pension. From today, companies with fewer than 30 employees will start to be phased into the government's auto-enrolment scheme to ensure that people are saving for their retirement. - The Times | | |
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