| | | | | | | Sell in May? No Way! 10 stocks to trade this summer | | | We debunk the ‘Sell in May’ myth and list 10 trend bucking stocks that all have the potential to do well over the next few months.
Get your report now >>
Losses can exceed deposits | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Investors wait on Mansion House speech, Greek talks Stocks bounced back after a lower opening as traders waited on the Chancellor's Mansion House speech and the result of a meeting scheduled for Wednesday afternoon between the leaders of France, Germany and Greece.
Acting as a backdrop, German 10-year bond yields hit the psychological 1% mark - for the first time since September 2014. Analysts at Unicredit attributed the move to the relative dearth of economic data and simmering worries regarding the outcome of talks between Athens and its creditors.
As of 08:56 the Footsie was 9.08 points or 0.12% higher at 6,761.87.
That followed a mixed close on Wall Street overnight. The Dow Jones Industrials finished in negative territory for the year with the Dow Jones Transports finishing at its year-to-date lows, weighed down by losses in the airlines sector.
"Greek uncertainty is still very apparent in the markets and is likely to continue to weigh on investor sentiment. There are signs of occasional progress but there is very much a case of two steps forwards and one step back about this process," writes Oanda's senior market analyst Craig Erlam.
"Alexis Tsipras yesterday called on his Syriza party to rally behind the government as it tries to secure a cash-for-reforms deal that will enable it to avoid default at the end of the month. This alone was a rather bizarre rallying cry given the speech he gave to parliament on Friday in which he slammed creditor proposals as "absurd" which is hardly going to drive support for a deal."
Industrial production figures were due out in the UK at 09:30. Similar reports out from France and Italy on Wednesday morning printed below analysts' expectations.
Bank levy to be axed
George Osborne is expected to signal an end to the government's £3.5bn-a-year bank levy, amid worries that HSBC might be tempted to move its headquarters abroad.
Osborne is also seen telling the City's grandees they can expect to see budget surpluses almost every year going forward.
S&P less positive on UK banks
Overnight ratings agency Standard&Poor's downgraded several of Britain's largest lenders, including Deutsche Bank and Barclays.
UK supermarket retailer Sainsbury posted a sixth straight quarter of falling underlying sales on Wednesday on the back of food price deflation and increased competition. The company said like-for-like retail sales for the 12 weeks to 6 June fell 2.1% (consensus: -2.2%), excluding fuel. The figures were better than analysts' expectations for a 2.3% decline, but worse than the 1.9% fall reported in the previous quarter.
First Group saw underlying revenues increase by 4.1% in the year to 31 March, although reported revenues took a hit due to Rail franchise charges. The figures were not comparable to last year's due to the sale of UK bus operations and foreign exchange translation effects. |
| | Very Limited Initial Public Offering (IPO) | | Queensland AUSTRALIA Mining Opportunity
Sizeable stockpiles of silver, lead and copper have been identified onsite which could be processed to generate early cash flow.
Seeking to raise £500K to £1m conditional on listing
Application to list on ISDX by 30 June 2015
Learn more! |
| | Market Movers
techMARK 3,190.58 -0.14%
FTSE 100 6,760.12 +0.09%
FTSE 250 17,874.12 +0.19%
FTSE 100 - Risers
Standard Chartered (STAN) 1,060.50p +2.56%
Tesco (TSCO) 206.00p +1.93%
Anglo American (AAL) 1,003.50p +1.84%
Sainsbury (J) (SBRY) 253.30p +1.73%
BHP Billiton (BLT) 1,336.50p +1.64%
Antofagasta (ANTO) 737.50p +1.51%
Rio Tinto (RIO) 2,822.50p +1.49%
CRH (CRH) 1,814.00p +1.06%
Morrison (Wm) Supermarkets (MRW) 173.00p +0.93%
Royal Dutch Shell 'B' (RDSB) 1,914.50p +0.92%
FTSE 100 - Fallers
Weir Group (WEIR) 1,876.00p -2.39%
Imperial Tobacco Group (IMT) 3,154.00p -1.07%
3i Group (III) 540.50p -1.01%
Diageo (DGE) 1,873.50p -0.74%
Reed Elsevier (REL) 1,070.00p -0.65%
Admiral Group (ADM) 1,427.00p -0.63%
Standard Life (SL.) 465.60p -0.60%
British American Tobacco (BATS) 3,404.00p -0.56%
Pearson (PSON) 1,266.00p -0.55%
Prudential (PRU) 1,549.50p -0.55%
FTSE 250 - Risers
Vedanta Resources (VED) 596.00p +4.01%
AL Noor Hospitals Group (ANH) 973.00p +3.51%
Cairn Energy (CNE) 188.00p +3.47%
Premier Oil (PMO) 169.00p +3.24%
Tullow Oil (TLW) 383.10p +3.18%
Home Retail Group (HOME) 155.40p +2.91%
Petra Diamonds Ltd.(DI) (PDL) 172.20p +2.62%
Kaz Minerals (KAZ) 251.30p +2.36%
IMI (IMI) 1,234.00p +2.24%
Virgin Money Holdings (UK) (VM.) 448.80p +2.00%
FTSE 250 - Fallers
Rotork (ROR) 246.50p -1.44%
Spirit Pub Company (SPRT) 112.40p -1.32%
Big Yellow Group (BYG) 639.00p -1.16%
JD Sports Fashion (JD.) 635.50p -1.09%
Indivior (INDV) 231.40p -1.07%
Micro Focus International (MCRO) 1,321.00p -0.90%
Fidelity China Special Situations (FCSS) 167.80p -0.89%
Savills (SVS) 945.00p -0.89%
Man Group (EMG) 166.60p -0.89% |
| | UK Event Calendar | | Wednesday 10 June
INTERIMS
Shoe Zone, Zambeef Products
QUARTERLY PAYMENT DATE
IBM Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Treasury Budget Statement (US) (19:00)
GMS
Circassia Pharmaceuticals
FINALS
Best of the Best, Ensor Holdings, FirstGroup, Flybe Group, Thalassa Holdings Ltd. (DI), Tricorn Group
IMSS
Tesco
EGMS
Aluminium Bahrain B.S.C. GDR (Reg S), O'Key Group GDR (Reg S) (WI)
AGMS
Bisichi Mining, Cdialogues , Densitron Technologies, Dexion Absolute Ltd. GBP Shares, Duet Real Estate Finance Ltd, Eden Research, Falkland Oil & Gas Ltd., Global Energy Development, Hurricane Energy, Jupiter Dividend & Growth Trust, Jupiter Dividend & Growth Trust Common, Jupiter Dividend & Growth Trust ZDP Shares, M&C Saatchi, O'Key Group GDR (Reg S) (WI), Orogen Gold, Patagonia Gold, Share plc, Soco International, Sopheon , Steppe Cement Ltd, Venture Life Group, Witan Pacific Inv Trust
TRADING ANNOUNCEMENTS
Sainsbury (J)
UK ECONOMIC ANNOUNCEMENTS
Industrial Production (09:30)
Manufacturing Production (09:30)
FINAL DIVIDEND PAYMENT DATE
Morrison (Wm) Supermarkets, Seplat Petroleum Development Company (DI), Volga Gas
FINAL EX-DIVIDEND DATE
Compagnie de St-Gobain SA
|
| | Barclays, Lloyds, HSBC & RBS- Is It Time To Sell UK Banks? | | Super-star fund manager Neil Woodford famously stopped investing in banks, describing them as
“volatile instruments with impenetrable accounts.” He also recently highlighted that “fine inflation”
is becoming a serious issue.
Our Free Report Takes a look at some of the UK's largest banks; see why investors could be better off selling them.
Download Free Report Now |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks waver as Bund yields rise and euro gains against the dollar European stocks wavered, while the euro gained ground against the dollar and German Bund yields rose above 1% on Wednesday, as investors kept an eye on any further developments in Greek debt negotiations.
By 0915 BST, the benchmark Stoxx 600 index was flat, while France's CAC 40 and Germany's DAX were 0.1% higher.
Moves in bond and currency markets were more pronounced, as the yield on the 10-year German Bund rose to 1.021%, above 1% for the first time since September 2014. At the same time, the euro rose 1% against the greenback to $1.1400. German Bund yields act as benchmarks for European financial markets and higher yields push the single currency up against the dollar.
"Worth noting is the fact that German 10-year yields have moved back up above 1% as the selloff in Bunds and bonds continues, reflecting the change in expectations that inflation is not on the decline anymore but instead appears to have bottomed out," said Markus Huber, senior analyst at Peregrine & Black.
As far the Greek debt saga is concerned, Prime Minister Alexis Tsipras will meet German Chancellor Angela Merkel and French President Francois Hollande in Brussels on Wednesday for further talks.
Greece's agreement with the European Union and the International Monetary Fund runs out at the end of this month and the country will not be able to many further debt repayments if a new deal isn't made.
"The gap between Greek and EU positions grows wider than ever, with Greece retreating from previous reform promises and EU leaders saying very clearly that they will not give any further ground. With end-June now a very firm deadline, time, money and patience are rapidly running out," said Rebecca O'Keeffe, head of investment at Interactive Investor.
On the corporate front, Sainsbury was up 1.6%. Although it reported its sixth straight quarter of sales declines on the back of food price deflation and increased competition, the drop was not as bad as analysts had expected.
Shares in French IT services company Capgemini fell 1.5% after the company said it has raised €505.8m in a capital increase. |
| | Free guide to Charting from ADS-Securities London | | Learn how to use the charts and improve your trading with our FREE guide, covering types of charts, trend lines, ranges, support and resistance and technical analysis. Apply for an account and get FREE upgrade to MT4Plus and 0.5 spreads until 30th June on UK100.
Apply today
Your Capital is at Risk.
|
| | US Market Report | | US close: Stocks close little changed as oil rallies US stocks closed flat on Tuesday, after a day during which they moved in tight ranges and erased some of the previous session's losses.
The Dow Jones Industrial Average closed down 6.11 points to 17,760.44, while the S&P 500 rose by less than a point and the Nasdaq lost four points.
According to the US Bureau of Labor Statistics, the number of job openings in April reached 5.38m compared with 5.11m in March, the highest figure since record began in 2000, and a 22% increase year-on-year.
Meanwhile, according to the US Commerce Department, wholesale inventories climbed 0.4% month-on-month in the period against expectations of a 0.2% gain, as inventories of durable goods climbed 0.1%.
The report came only a few hours after a ManpowerGroup survey found US employers' hiring intentions in the third quarter of 2015 are among the strongest worldwide.
According to its Employment Outlook Survey, the net employment outlook was +16%, up 2% year-on-year and flat compared with the previous quarter.
Figures released on Tuesday showed that of the more than 11,000 US employers surveyed, 24% expected staff levels to increase in the third quarter, the highest since the same period in 2008.
Oil rallies
Elsewhere, European stocks fell, extending losses after a fairly flat start as ongoing uncertainty over Greek debt negotiations undermined sentiment, as Germany's DAX index, which has fallen over 10% since its April peak, slid under the 11,000 mark.
"The value that was added to Eurozone stock markets on the back of QE is quickly being eroded due to Greece, and with the payback deadline looming dealers are doing their utmost to get out," said IG's analyst David Madden.
Asian shares fell as speculation of an interest-rate hike by the Federal Reserve later this year weighed on sentiment, while soft Chinese inflation figures sparked concern about the health of the world's second-largest economy.
The dollar was broadly flat against the euro but lost 0.26% against the pound and 0.16% against the yen, while gold futures climbed 0.23% to $1,176.30.
Oil prices rallied, with West Texas Intermediate gaining 3.04% to $59.96 a barrel, while Brent surged 3.08% to $64.68 a barrel.
Mixed earnings
In company news, athletic apparel retailer Lululemon Athletica surged 10.9% in pre-market trading after first quarter sales beat expectations.
General Electric edged 0.33% higher, after agreeing to sell its private equity lending unit to Canada Pension Plan Investment Board for $12bn.
Real estate group Hovnanian Enterprises plunged 9.78% after its second quarter profit missed expectations and the group chief executive said he expected the company to book an annual loss.
Outdoor-apparel company Quiksilver plummeted 31.3% after reporting worse-than-expected second quarter results, while retailer Burlington Stores slumped 8.42% after its first quarter revenue fell short of expectations.
S&P 500 - Risers
Peabody Energy Corp. (BTU) $3.28 +7.19%
Eli Lilly and Company (LLY) $82.77 +5.41%
AES Corp. (AES) $13.51 +3.29%
Freeport-McMoRan Inc (FCX) $20.02 +3.20%
Netflix Inc. (NFLX) $647.15 +3.18%
Murphy Oil Corp. (MUR) $43.26 +2.61%
EQT Corp. (EQT) $86.06 +2.40%
Noble Energy Inc. (NBL) $45.75 +2.37%
LyondellBasell Industries (LYB) $101.83 +2.36%
H&R Block Inc. (HRB) $31.95 +2.24%
S&P 500 - Fallers
Newmont Mining Corp. (NEM) $24.41 -5.53%
Southwest Airlines Co. (LUV) $34.59 -4.21%
Micron Technology Inc. (MU) $25.19 -2.82%
Akamai Technologies Inc. (AKAM) $72.90 -2.66%
Citrix Systems Inc. (CTXS) $64.45 -2.33%
National Oilwell Varco Inc. (NOV) $47.90 -2.17%
Transocean Ltd. (RIG) $18.74 -1.99%
ProLogis (PLD) $39.07 -1.90%
News Corp Class A (NWSA) $14.56 -1.85%
Boston Scientific Corp. (BSX) $17.40 -1.69%
Dow Jones I.A - Risers
Procter & Gamble Co. (PG) $78.90 +1.53%
Caterpillar Inc. (CAT) $86.73 +0.67%
American Express Co. (AXP) $79.17 +0.46%
JP Morgan Chase & Co. (JPM) $67.17 +0.42%
Visa Inc. (V) $67.95 +0.40%
General Electric Co. (GE) $27.32 +0.29%
3M Co. (MMM) $156.98 +0.25%
Johnson & Johnson (JNJ) $98.15 +0.19%
International Business Machines Corp. (IBM) $165.66 +0.19%
Pfizer Inc. (PFE) $34.03 +0.15%
Dow Jones I.A - Fallers
Walt Disney Co. (DIS) $108.50 -0.72%
McDonald's Corp. (MCD) $94.73 -0.62%
Boeing Co. (BA) $140.10 -0.38%
Home Depot Inc. (HD) $109.53 -0.36%
Goldman Sachs Group Inc. (GS) $209.09 -0.33%
Exxon Mobil Corp. (XOM) $84.58 -0.32%
Apple Inc. (AAPL) $127.40 -0.31%
E.I. du Pont de Nemours and Co. (DD) $69.21 -0.29%
Verizon Communications Inc. (VZ) $47.33 -0.23%
Microsoft Corp. (MSFT) $45.63 -0.21%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $647.15 +3.18%
Illumina Inc. (ILMN) $215.59 +2.34%
Intuitive Surgical Inc. (ISRG) $497.26 +1.37%
Avago Technologies Ltd. (AVGO) $140.25 +1.17%
Charter Communications Inc. (CHTR) $173.00 +1.12%
Gilead Sciences Inc. (GILD) $114.75 +0.92%
Kraft Foods Group, Inc. (KRFT) $84.00 +0.78%
Mattel Inc. (MAT) $26.01 +0.77%
Whole Foods Market Inc. (WFM) $40.28 +0.71%
Verisk Analytics Inc. (VRSK) $73.70 +0.68%
Nasdaq 100 - Fallers
Micron Technology Inc. (MU) $25.19 -2.82%
Akamai Technologies Inc. (AKAM) $72.90 -2.66%
Citrix Systems Inc. (CTXS) $64.45 -2.33%
Vimpelcom Ltd Ads (VIP) $5.24 -1.69%
Liberty Interactive Corporation QVC Group (QVCA) $27.93 -1.34%
Vertex Pharmaceuticals Inc. (VRTX) $124.05 -1.17%
Biogen Inc (BIIB) $382.00 -1.13%
Amgen Inc. (AMGN) $154.80 -1.07%
Staples Inc. (SPLS) $16.22 -1.04% |
| | Is Now The Time To Buy Gold, Silver & Palladium? | | Receive Our Free Precious Metals Investor Guide Trio Click Here |
| | Newspaper Round Up | | Wednesday newspaper round-up: Referendum, Bank levy, Mansion House The Government should hold a referendum on Britain's EU membership as soon as possible to end the uncertainty that the looming vote creates for businesses, according to one of the world's leading bond investors. The Pacific Investment Management Company (Pimco) said it was important for the UK to get the EU referendum vote "out of the way", so policymakers can focus on what it views as bigger risks to the UK economy, including the impact of further austerity. - The Daily Telegraph
George Osborne is preparing to signal an end to the £3.5 billion-a-year bank levy as he tries to head off a decision by Britain's largest lender to move its headquarters overseas. The chancellor is expected to use his annual Mansion House speech this evening to say that the levy will be phased out in its present form amid fears that it could prompt HSBC to quit Britain. - The Times
George Osborne will stake his reputation today on achieving budget surpluses for generations to come, enshrining his pledge to pay down debt during "normal" years in legislation this autumn. Emphasising how the Conservative majority government differs from the coalition on fiscal policy, the chancellor will tell City grandees at the Mansion House dinner today that British governments will in future run surpluses almost every year. - Financial Times
The oil industry is facing a shake-out as the crude price collapse makes the economics of expensive new projects questionable. Lower-cost producers in the US shale heartland and operators with cost effective production but stretched finances elsewhere, are expected to become targets. - Financial Times
British investigator linked to a bribery scandal in China involving drug maker GlaxoSmithKline has been released early from prison. Peter Humphrey and his American wife, Yu Yingzeng, were sentenced to two and a half years in a Chinese jail in August last year for illegally obtaining private records of Chinese citizens and selling the information on to clients including GSK. - The Daily Telegraph | | |
New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds,
Sipps Travel and Cars - FREE and Easy service CLICK HERE |
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment