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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: FTSE opens lower amid Greek concerns The FTSE was trading around 20 points lower early on amid increased concerns about the future of the Greek economy after the International Monetary Fund (IMF) has pulled the technical team that was negotiating with Athens.
The IMF on Thursday said there were still "major differences" to be overcome and choose to leave negotiations taking place in Brussels and return to Washington. Particular areas of contention are pension and labour market reform.
"Thursday had been on track for an astonishing level of growth that would have effectively rendered the losses at the start of the week moot - instead, news that the IMF remains displeased with the negotiating tactics of Greece, leading them to leave Brussels with seemingly little progress on a deal, wiped out around half of Thursday's gains in a few minutes, leaving the Eurozone in the green but looking pretty battered with it," said SpreadEx financial analyst Connor Campbell.
It provided a "rather sharp reality check", he added.
"Like a love-sick puppy the UK index has followed the lead of the Eurozone all week, meaning that whilst it spent most of Thursday basking in the glow of the region's hopeful demeanour, the sharp shock of a dour IMF sentiment left the FTSE looking slightly less triumphant this Friday morning."
Meanwhile, the focus of the session will also be on UK construction output, Eurozone industrial production and US consumer confidence reports.
UK construction output data is expected to show a 0.5% increase year-on-year in April, while Eurozone industrial production is forecast to have risen 1.1% in April compared to a year ago.
Later in the session, the US sees the release of the University of Michigan's index on consumer confidence which is projected to increase to 91.4 in June from 90.7 previously.
Greece will also continue grab attention as the country tries to work out a deal with creditors to unleash further aid.
In company news, GlaxoSmithKline announced that the advisory committee of the US Food and Drug Administration has recommended its Mepolizumab drug for the treatment of adults with severe asthma. Mepolizumab is not currently approved for use anywhere in the world.
Segro has exchanged contracts with M&G Real Estate to dissolve The Heathrow Big Box Industrial and Distribution Fund (HBB) ahead of its termination date in June 2016. |
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| | Market Movers
techMARK 3,201.38 -0.29%
FTSE 100 6,826.59 -0.29%
FTSE 250 18,020.07 -0.38%
FTSE 100 - Risers
Royal Mail (RMG) 499.60p +1.28%
Glencore (GLEN) 282.50p +0.44%
ITV (ITV) 267.60p +0.38%
Royal Bank of Scotland Group (RBS) 362.80p +0.36%
BT Group (BT.A) 448.15p +0.29%
Rio Tinto (RIO) 2,847.00p +0.28%
Anglo American (AAL) 1,009.50p +0.20%
BAE Systems (BA.) 491.70p +0.20%
Barclays (BARC) 269.30p +0.20%
Marks & Spencer Group (MKS) 556.50p +0.18%
FTSE 100 - Fallers
Taylor Wimpey (TW.) 187.10p -1.53%
Barratt Developments (BDEV) 608.00p -1.30%
Old Mutual (OML) 209.10p -1.18%
Associated British Foods (ABF) 3,062.00p -1.07%
Compass Group (CPG) 1,111.00p -1.07%
Unilever (ULVR) 2,819.00p -1.05%
Hikma Pharmaceuticals (HIK) 1,941.00p -1.02%
Johnson Matthey (JMAT) 3,168.00p -1.00%
Persimmon (PSN) 1,961.00p -0.96%
CRH (CRH) 1,869.00p -0.85%
FTSE 250 - Risers
Vedanta Resources (VED) 610.00p +2.52%
Ted Baker (TED) 2,869.00p +1.92%
Petrofac Ltd. (PFC) 923.00p +1.88%
Rank Group (RNK) 225.30p +1.21%
Premier Oil (PMO) 164.00p +0.99%
Tullow Oil (TLW) 393.50p +0.95%
Jardine Lloyd Thompson Group (JLT) 1,044.00p +0.87%
Drax Group (DRX) 378.20p +0.53%
Homeserve (HSV) 432.40p +0.53%
Cairn Energy (CNE) 189.60p +0.42%
FTSE 250 - Fallers
Bwin.party Digital Entertainment (BPTY) 94.40p -10.10%
Petra Diamonds Ltd.(DI) (PDL) 154.00p -9.62%
Lonmin (LMI) 134.60p -3.65%
Card Factory (CARD) 358.00p -2.45%
Senior (SNR) 313.60p -1.79%
Redefine International (RDI) 52.50p -1.78%
Diploma (DPLM) 773.50p -1.47%
Virgin Money Holdings (UK) (VM.) 457.50p -1.40%
Essentra (ESNT) 1,008.00p -1.37% |
| | UK Event Calendar | | Friday 12 June
INTERIM DIVIDEND PAYMENT DATE
FDM Group (Holdings), Regenersis
QUARTERLY PAYMENT DATE
Carnival, M Winkworth
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
Producer Price Index (US) (13:30)
U. of Michigan Confidence (US) (14:55)
GMS
Hellenic Telecom Industries SA ADS, Tekcapital
FINALS
Bonmarche Holdings, Origo Partners
ANNUAL REPORT
Northern 2 VCT
SPECIAL DIVIDEND PAYMENT DATE
Fidessa Group
EGMS
European Wealth Group Limited
AGMS
Bacanora Minerals Ltd NPV (DI), Baker Steel Resources Trust Ltd., Cathay Financial Holding Co Ltd GDR (Reg S), Schroder Global Real Estate Securities Limited , Shin Kong Financial Holdings Co Ltd GDR (Reg S), Sunplus Technology Co Ltd.GDR (Reg S), Ted Baker, Trader Media East Ltd GDR (Reg S), Walcom Group (DI)
TRADING ANNOUNCEMENTS
SThree
FINAL DIVIDEND PAYMENT DATE
Augean, Carillion, Chime Communications, Derwent London, Empresaria Group, Fidessa Group, Frenkel Topping Group, G4S, JZ Capital Partners Ltd, Robert Walters, Sagentia Group
FINAL EX-DIVIDEND DATE
Tongaat-Hulett Ltd. |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip, along with the euro, amid Greece worries European stocks slipped on Friday, along with the euro, amid growing concerns about Greece's debt negotiations.
By 0910 BST, the benchmark Stoxx Europe 600 index and Germany's DAX were down 0.3%, while France's CAC 40 was 0.2% weaker.
Greece was the stand-out loser, with the ASE Composite index down 3.6% at793.55. The yield on the 10-year Greek government bond was up five basis points at 11.35%.
Meanwhile, the yield on the 10-year German Bund was down three basis points at 0.89%, having risen above the 1% mark earlier in the week.
The euro was 0.5% weaker at $1.1200. Despite the move lower, strategists at Citigroup said the euro remains well supported. "The fact that EUR still trades at 1.1260 despite lower Bund yields and Greece uncertainty possibly means that the market's short positioning continues to be the key driver of its moves," said Citigroup.
On Thursday, the International Monetary Fund said that it had stopped talks with Greece due to a lack of progress. The IMF has said that a deal with Greece is still far off, while the European Union has warned Athens not to gamble with the possibility of default.
Also undermining sentiment was a report in newspaper Bild, suggesting that German Chancellor Angela Merkel's advisers are holding discussions on how to deal with a Greek default.
"The logjam appears to revolve around pension and labour market reform, which Greece remains unwilling to compromise on," said Michael Hewson, chief market analyst at CMC Markets. "Even if Greece does compromise on the issues the IMF wants change on, there is no guarantee that they would be able to implement them and therein lies the rub."
"All the while the clock continues to tick down with Greece due to repay €1.5bn to the IMF by the end of the month," said Hewson. "There is a growing feeling that the day of reckoning is fast approaching and with German officials also in uncompromising mood, insisting that only a yes will do, it is hard to escape the perception that Greece is about to do the equivalent of bringing a knife to a gunfight."
In corporate news, aerospace supplier Zodiac Aerospace fell 5% after the company warned over profit as it struggles with seat production delays.
In London, GlaxoSmithKline was in focus after it said that the advisory committee of the US Food and Drug Administration has recommended its Mepolizumab drug for the treatment of adults with severe asthma. |
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| | US Market Report | | US close: stocks extend gains on continued retail rally US stocks continued to gain on Thursday, buoyed by strong retail sales, which continued to signal a economic recovery. At close, the Dow Jones Industrial Average was up 39.04 points, while the S&P 500 and the Nasdaq gained 3.70 and 5.82 points respectively.
US retail sales rose 1.2% to $444.9bn in May compared to a month earlier, as expected by analysts, according to the Department of Commerce on Thursday.
According to figures released by the Labor Department, US import prices grew 1.3% month-on-month in May, compared with a 0.2% decline in April, as fuel imports registered their biggest increase since mid-2009 and surged 11.8%. On a year-on-year basis, import prices jumped 9.6%.
Meanwhile, the number of Americans claiming unemployment benefits in the week to 5 June rose by 2,000 to 279,000, slightly higher than the 275,000 analysts had expected.
Initial claims have remained under the 300,000 mark for the 14th week in a row for the first time since 2000, while the four-week average of new claims over the past month rose by 3,750 to 278,750.
Krispy Kreme Doughnuts surged after the company posted better-than-expected profits late on Wednesday.
Mens Warehouse closed higher after topping estimates with its first-quarter earning per share late on Wednesday and announcing a 10-year contract with Macy's to provide in-store tuxedo hires.
Hess Corp climbed after saying it would sell a 50% stake in its Bakken midstream assets to Global Infrastructure Partners for $2.675bn.
Citrix Systems was on the up after here fund Elliot Associated, which holds a 7.1% stake in the company, said it is confident the tech company can push its stock 30% higher to around $100 per share.
Cloud-storage group Box jumped after its quarterly results beat expectations.
Energy stocks including Chesapeake Energy Corp, Transocean and Diamond Offshore Drilling tracked calling oil prices lower.
In international markets, Greece's Athex Composite Index rocketed over 8%, as negotiations between Athens and its international creditors continued. The rest of Europe also gained, as did the majority of Asian markets.
Crude oil retreated from Wednesday's 2015 high, dropping more than 1%, while base and precious metal prices both declined.
S&P 500 - Risers
Citrix Systems Inc. (CTXS) $70.39 +6.70%
Hess Corp. (HES) $68.84 +4.88%
Eli Lilly and Company (LLY) $86.63 +4.15%
Harman International Industries Inc. (HAR) $122.45 +3.95%
Baxter International Inc. (BAX) $68.25 +3.38%
Windstream Holdings Inc (WIN) $7.59 +2.99%
CSX Corp. (CSX) $34.98 +2.97%
Computer Sciences Corp. (CSC) $69.39 +2.83%
Fidelity National Information Services Inc. (FIS) $64.17 +2.62%
Valero Energy Corp. (VLO) $59.65 +2.47%
S&P 500 - Fallers
Marathon Petroleum Corporation (MPC) $52.04 -48.88%
Peabody Energy Corp. (BTU) $2.78 -13.41%
Transocean Ltd. (RIG) $18.12 -5.03%
Chesapeake Energy Corp. (CHK) $12.51 -4.21%
Diamond Offshore Drilling Inc. (DO) $29.01 -4.19%
Noble Corporation plc (NE) $16.61 -3.99%
CONSOL Energy Inc. (CNX) $26.35 -3.80%
Ensco Plc. (ESV) $23.92 -3.04%
Freeport-McMoRan Inc (FCX) $19.96 -2.92%
Rowan Companies plc (RDC) $21.57 -2.88%
Dow Jones I.A - Risers
Travelers Company Inc. (TRV) $100.17 +1.00%
Boeing Co. (BA) $143.00 +0.97%
Cisco Systems Inc. (CSCO) $28.88 +0.77%
United Technologies Corp. (UTX) $118.34 +0.71%
Unitedhealth Group Inc. (UNH) $119.36 +0.68%
Verizon Communications Inc. (VZ) $47.77 +0.63%
Walt Disney Co. (DIS) $110.67 +0.61%
Nike Inc. (NKE) $103.92 +0.56%
3M Co. (MMM) $159.91 +0.55%
Pfizer Inc. (PFE) $34.48 +0.50%
Dow Jones I.A - Fallers
Merck & Co. Inc. (MRK) $58.92 -1.16%
Chevron Corp. (CVX) $101.15 -0.67%
Coca-Cola Co. (KO) $40.09 -0.60%
Microsoft Corp. (MSFT) $46.44 -0.36%
General Electric Co. (GE) $27.53 -0.36%
Caterpillar Inc. (CAT) $88.20 -0.32%
Apple Inc. (AAPL) $128.59 -0.23%
Procter & Gamble Co. (PG) $79.41 -0.16%
Exxon Mobil Corp. (XOM) $85.09 -0.14%
International Business Machines Corp. (IBM) $168.86 -0.04%
Nasdaq 100 - Risers
Citrix Systems Inc. (CTXS) $70.39 +6.70%
Expeditors International Of Washington Inc. (EXPD) $48.31 +1.66%
Amgen Inc. (AMGN) $158.05 +1.61%
Seagate Technology Plc (STX) $54.31 +1.34%
Tractor Supply Company (TSCO) $90.12 +1.33%
Biogen Inc (BIIB) $393.54 +1.30%
Gilead Sciences Inc. (GILD) $119.18 +1.28%
Wynn Resorts Ltd. (WYNN) $104.46 +1.20%
Illumina Inc. (ILMN) $217.81 +1.10%
Nvidia Corp. (NVDA) $21.70 +1.07%
Nasdaq 100 - Fallers
Yahoo! Inc. (YHOO) $40.94 -2.67%
Regeneron Pharmaceuticals Inc. (REGN) $501.30 -2.15%
Intuit Inc. (INTU) $105.83 -1.54%
Applied Materials Inc. (AMAT) $19.78 -1.30%
Vimpelcom Ltd Ads (VIP) $5.29 -1.21%
Intuitive Surgical Inc. (ISRG) $498.22 -1.19%
Texas Instruments Inc (TXN) $53.64 -1.01%
Sandisk Corp. (SNDK) $66.66 -0.89%
Autodesk Inc. (ADSK) $54.48 -0.89% |
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| | Newspaper Round Up | | Friday newspaper round-up: IAG, OBR, Apple The parent company of British Airways is buying up Europe's aviation industry "bite by bite" and should be stopped according to Sir Richard Branson, who has hit out at the proposed takeover of Aer Lingus. In an attack on his larger rival, the chairman of Virgin Atlantic claimed it was "preposterous" to allow International Airlines Group (IAG) to buy Ireland's national flag carrier, saying the deal was at a "completely unrealistic" price. - The Times Britain's fiscal watchdog has cast doubt over the Government's pledge to spend less than it receives in revenues in times of growth, as an ageing population puts increasing pressure on the public finances.Robert Chote, chairman of the Office for Budget Responsibility (OBR) described the Chancellor's pledge to entrench the need to run an overall budget surplus in "normal times" as "ambitious" and inconsistent with past trends. - The Daily Telegraph
Apple's new music streaming service is to cost significantly more in Britain than in the US, leading to claims that the UK has become a "cash cow" for American technology companies. Apple Music will cost £9.99 a month in the UK, according to pricing information leaked yesterday. This is 55% higher than the $9.99 (£6.46) it costs in the US before state sales tax is taken into account. - The Times
The Pentagon is considering setting up a network of bases across northern Iraq from which American advisers would assist the Iraqi military campaign against fighters from the Islamic State in Iraq and the Levant. Gen Martin Dempsey, chairman of the joint chiefs of staff, said the US was looking at creating a "lily-pad" of sites that would re-establish a presence in locations used by the US military when it occupied the country. - Financial Times
Petrol and diesel prices in the UK are poised to climb further after the world's top energy watchdog significantly upgraded its forecast for oil demand. The International Energy Agency (IEA) has raised its outlook for world oil demand growth in 2015 by 280,000 barrels per day (bpd) to 1.4m bpd. The increase means that total demand is expected to reach 94m bpd on average in 2015. - The Daily Telegraph | | |
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