| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Footsie gains after agreement reached on Greece (ShareCast News) - The Footsie jumped on news that Monday's Euro-summit had reached an agreement on a bail-out for Greece.
Eurogroup head Jeroen Dijsselbloem said the Greek deal will need to be voted in parliament after it has been discussed with the Eurogroup on Wednesday. A formal decision will then follow by the end of the week, he added.
As of 08:46 the FTSE 100 was higher by 55.31 points to 6,728.61 points.
After almost 17 hours of talks in Brussels Greek Prime Minister Alexis Tsipras was able to clinch an agreement with international creditors which will pave the way for the start of talks on a third bail-out programme.
Nevertheless, some market commentary was highlighting the fact that Tsipras appeared to have done worse for his country than the deal which was offered by creditors before he called the latest referendum.
The Dax-30 was up by 1.09% to 11,438.97 points and the Cac-40 by another 1.38% to 4,970.86
In parallel, the yield on 10-year Gilts was higher by five basis points to 2.13% and that on German Bunds of similar maturity by four to 0.94%, as risk aversion receeded. After an initial bounce euro/dollar turned around to trade lower by 0.61% to 1.1097.
Acting as a backdrop, Chinese exports grew by more than expected by economists in June, rebounding by 2.8% over the month (Consensus: 1.0%) to reach a four-month high, pointing to a policy-driven rebound in domestic demand, according to Capital Economics.
"The underlying picture is that as some of the factors that weighed on external demand earlier this year, such as an unusually weak Q1 in the US, have faded, export growth has rebounded," Julian Evans-Pritchard, China economist at the above think-tank said in a research note e-mailed to clients.
Alent rockets as US buyer steps in
Shares in FTSE 250-listed Alent surged 45% on news that US chemicals business Platform Specialty Products will buy the company for around $1.35bn in cash. The board of Alent intends to unanimously recommend the transaction to its shareholders, who will be entitled to 503p a share under the terms of the deal. The figure represents a premium of around 49% to Alent's closing price of 337.7p on 10 July.
Nostrum Oil has made a further approach to Tethys Petroleum regarding a possible offer the entire company. The possible offer price, whether in cash or shares, of C$0.2185 represents a premium of 46% over the closing share price on the Toronto Stock Exchange as of 9 July. As part of the transaction Nostrum is willing to extend interim funding to Tethys even before any shareholder vote takes place.
Energy company BG Group has started up and loaded its first liquefied natural gas from the second production train at the Queensland Curtis LNG (QCLNG) facility in Australia. The first LNG from Train 2 set sail on the Maran Gas Posidonia. At plateau production, which is expected mid-2016, both trains at the Queensland facility will be producing enough LNG to load ten vessels per month combined, exporting around 8m tonnes per year, the company said. |
| | To investors who want to retire comfortably. If you have a £250,000 portfolio, download the guide by Forbes columnist and money manager Ken Fisher's firm. It's called "The 15-Minute Retirement Plan". Click Here to Download. |
| | Market Movers
techMARK 3,168.42 +0.69%
FTSE 100 6,714.16 +0.61%
FTSE 250 17,594.36 +0.62%
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 544.50p +2.54%
Shire Plc (SHP) 5,525.00p +2.31%
Morrison (Wm) Supermarkets (MRW) 175.80p +1.74%
Whitbread (WTB) 5,195.00p +1.66%
Barclays (BARC) 272.50p +1.66%
Mondi (MNDI) 1,478.00p +1.65%
3i Group (III) 546.00p +1.49%
Carnival (CCL) 3,439.00p +1.48%
CRH (CRH) 1,873.00p +1.46%
Schroders (SDR) 3,149.00p +1.45%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 4,110.00p -1.01%
Fresnillo (FRES) 667.50p -0.67%
BHP Billiton (BLT) 1,220.50p -0.57%
Glencore (GLEN) 243.90p -0.47%
Rio Tinto (RIO) 2,529.50p -0.39%
ARM Holdings (ARM) 1,011.00p -0.39%
Coca-Cola HBC AG (CDI) (CCH) 1,348.00p -0.37%
Aberdeen Asset Management (ADN) 402.50p -0.27%
Antofagasta (ANTO) 655.50p -0.23%
Severn Trent (SVT) 2,148.00p -0.09%
FTSE 250 - Risers
Alent (ALNT) 489.40p +44.92%
Just Eat (JE.) 421.20p +4.70%
Shawbrook Group (SHAW) 361.50p +3.58%
Indivior (INDV) 244.50p +3.43%
Renishaw (RSW) 2,156.00p +3.21%
Diploma (DPLM) 842.00p +2.56%
Aldermore Group (ALD) 269.30p +2.40%
Ted Baker (TED) 3,013.00p +2.27%
IP Group (IPO) 202.80p +2.22%
Rightmove (RMV) 3,330.00p +2.12%
FTSE 250 - Fallers
International Personal Finance (IPF) 409.20p -13.19%
Lonmin (LMI) 77.55p -4.79%
Pace (PIC) 358.00p -4.05%
Vedanta Resources (VED) 441.30p -2.93%
Evraz (EVR) 111.90p -2.19%
Daejan Holdings (DJAN) 6,065.00p -2.18%
CLS Holdings (CLI) 1,840.00p -1.45%
Centamin (DI) (CEY) 59.00p -1.42%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 511.00p -1.16%
Ophir Energy (OPHR) 108.20p -1.10%
FTSE TechMARK - Risers
Filtronic (FTC) 7.75p +3.33%
E2V Technologies (E2V) 233.00p +1.75%
NCC Group (NCC) 220.50p +1.61%
Consort Medical (CSRT) 893.00p +1.19%
Innovation Group (TIG) 31.50p +0.80%
KCOM Group (KCOM) 96.00p +0.79%
Spirent Communications (SPT) 93.50p +0.54%
Dialight (DIA) 525.00p +0.48%
Skyepharma (SKP) 276.00p +0.18%
FTSE TechMARK - Fallers
Sarossa (SARS) 1.71p -7.82%
Oxford Biomedica (OXB) 8.41p -4.76%
Triad Group (TRD) 25.75p -4.63%
Torotrak (TRK) 7.01p -3.11%
Gresham Computing (GHT) 98.00p -1.01%
Promethean World (PRW) 38.00p -0.98%
Oxford Instruments (OXIG) 871.50p -0.85%
SDL (SDL) 405.00p -0.49%
Sepura (SEPU) 159.00p -0.31%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 196.45 -0.11% |
| | UK Event Calendar | | Monday 13 July
INTERIMS
SThree
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Treasury Budget Statement (US) (19:00)
GMS
Hornby, Inspired Energy
FINALS
Collagen Solutions, Conviviality Retail
EGMS
Global Brands S.A
AGMS
Mitie Group, Public Power GDR SA (Reg S), Styles & Wood Group
FINAL DIVIDEND PAYMENT DATE
Africa Opportunity Fund Limited, Great Portland Estates, Safestyle UK
|
| | Is Lloyds About To Be Sold Off Cheaply? | | Dear Subscriber,
It’s official…
The last of the government’s stake in Lloyds is to be sold off.
And this time, the ‘little guy’ can get involved.
There’s rumours of a big discount, but we think there could be a bigger opportunity…
Download Your Free Report Now |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise and Southern European bonds rally on Greek debt deal (ShareCast News) - European stocks rose and Southern European bond yields fell after European Council President Donald Tusk said Greece has reached an agreement with its Eurozone creditors.
Eurogroup head Jeroen Dijsselbloem said the Greek deal will need to be voted in parliament after it has been discussed with the Eurogroup on Wednesday. A formal decision will then follow by the end of the week, he said.
By 0900 BST, the benchmark Stoxx Europe 600 index was up 1.1%, France's CAC 40 was 1.2% higher and Germany's DAX was 1% firmer. Meanwhile, the euro, which had initially ticked up against the dollar on news of the agreement, failed to hold on to gains and was trading down a touch against the greenback at $1.1097.
In peripheral equity markets, Spain's IBEX 35 was up 0.9%, while Italy's FTSE Mib was 0.2% weaker.
Eurozone leaders have agreed to give Greece another bailout in return for the pension overhauls and sales-tax increases Prime Minister Alexis Tsipras and the Greek people had been so keen to avoid.
In peripheral debt markets, the yield on Italy's 10-year government bond was down four basis points at 2.104%, while the corresponding Spanish yield was also four basis points lower, at 2.095%.
As investors piled back into riskier assets, safe-haven German Bunds lost their appeal and the yield on the 10-year government bond rose three basis points to 0.927%.
"Negotiators were cutting it fine in their desire to reach an agreement with Greece before European equity markets opened, but a deal has been made, which has sent equity markets higher," said Rebecca O'Keeffe, head of investment at Interactive Investor.
"This deal acknowledges the difficult financial situation Greece is currently in and discussions to provide 'bridge financing', in order to recapitalise Greek banks, will hopefully provide relief for ordinary Greek people who are increasingly struggling to subsist with the current capital controls.
"However, whilst the deal may have been agreed by Europe, Greece must demonstrate good faith and trust by initiating reforms, not just talking about them.
"Tsipras has until Wednesday to deliver new measures in parliament, which will not be easy, but will hopefully be achieved so that investors can finally put a line under the Greek issue, which has been a millstone round the necks of European equity markets." |
| | Worried About Retirement? Download Our Free Guide For Investors with £250K+ Portfolios. |
| | US Market Report | | US close: Wall Street advances on Greece hopes, airlines lead (ShareCast News) - The main US equity benchmarks closed near their session highs on hopes of a resolution of the crisis in Greece and after Fed Chair Janet Yellen flagged the possibility of a first increase in short-term interest rates later this year.
The Dow Jones Industrials finished the session higher by 1.20% at 17,760, while the S&P 500 notched up gains of 1.25% to 2,077 and the Nasdaq Composite advanced by another 1.54% to 4,998.
"I expect that it will be appropriate at some point later this year to take the first step to raise the federal funds rate and thus begin normalizing monetary policy," Yellen told the City Club of Cleveland, Ohio.
Traders interpreted her remarks as showing confidence in the underlying economy, noting how she only made one reference to Greece.
Nevertheless, she added, "the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate this first step."
Hence, some observers continued to wonder aloud whether the Fed would raise rates once or twice this year.
"Her own assessment of the outlook warrants the beginning of policy normalization later this year, but we believe her assessment of the balance of risks means it wouldn't take too much to push the chair off of this view," Barclays economist Michael Gapen wrote in a research note e-mailed to clients.
The yield on the benchmark 10-year US Treasury note advanced eight basis points to 2.40% after her speech.
Optimism grows over a Greek debt deal
European stocks racked up solid gains and Southern European debt rallied as investors welcomed news that Greece had submitted fresh proposals to its Eurozone creditors. Meanwhile, German Bund yields rose as the risk-on tone prompted investors to sell the safe-haven asset.
Greece requested €53.5bn to help cover its debts until 2018 and has agreed to implement tax hikes and spending cuts in return. The Greek parliament was set to vote later on Friday on whether to endorse the new set of proposals put forward to creditors.
Eurogroup head Jeroen Dijsselbloem said that a decision on Greece's new reform proposals will be made "probably today", according to Bloomberg.
EU leaders were due to meet with Greece on Sunday to go over the plans, which French President Hollande labelled as "serious and credible".
With Greece seemingly a step closer to striking a deal with its creditors, the dollar fell against its major rivals.
Gold futures for August delivery were up 0.24% at $1,162.00, while oil edged higher, with West Texas Intermediate futures rising 0.08%, at $52.82.
Airlines lead gains, Cablevision rockets
In corporate news, Gap nudged higher in pre-market trading after it said late on Thursday that June same-store sales were down 1%, compared with a 2% fall last year.
Apple gained 2.7%, rebounding following five straight days of losses.
Alibaba was in focus on Friday following press reports that the company's executive director has been detained by Chinese authorities over corruption allegations.
From a sector standpoint the largest gains were seen in the following sectors: Airlines (4.35%), Recreational services (3.11%) and Transportation services (2.86%).
The rise in the former group of companies came after American Airlines announced it would pared its growth plans.
According to the Wall Street Journal French billionaire Patrick Drahi said he is interested in acquiring US cable companies, which light a fire under shares of Cablevision |
| | Trade smart: The complete A-Z of CFD trading mistakes Most investors/traders do so on their own considering themselves immune to the typical mistakes repeatedly made by the vast majority. To help you avoid these pitfalls we look at some of the most common and costliest to help extend your trading lifetime to be as long and as profitable as possible. Download this report here >> Losses can exceed deposits |
| | Newspaper Round Up | | Monday newspaper round-up: Productivity, Consumers, Unite (ShareCast News) - George Osborne's pledge to fix Britain's woeful productivity record will be called into question by a leading business group on Monday when it highlights a skills crisis and redoubles criticism of the government's apprenticeship plans. As official figures this week are expected to show wages picking up and unemployment holding at a seven-year low, the CBI highlights that a growing number of employers are struggling to fill skilled jobs. - The Guardian
Consumers are splashing cash on dining out, leisure trips and cultural treats as they make the most of their increased spending power, a survey said today, with official data due this week expected to show wages rising and inflation staying low. Visa's latest Expenditure Index showed that consumer spending remained buoyant in June, rising 1.4 per cent on an annual basis, rounding off the strongest quarter for household expenditure since the second quarter of 2010. - Daily Mail
Britain's biggest union has cleared the way for illegal strikes as it raises the stakes in a looming confrontation with the Conservatives over tougher laws on industrial action. Unite, which has nearly 1.5 million members, has passed a motion to remove a caveat from its rule book requiring protests to remain within the law. The union's objectives will no longer be predicated with the phrase "so far as may be lawful". - The Times
France is "the sick man of Europe", Franois Fillon, the former centre-Right prime minister, has said in an open letter to French president Francois Hollande, calling for urgent economic reforms. "The Greek tragedy shows that the threat of bankruptcy is not abstract," according to Mr Fillon, who headed the government of former president Nicolas Sarkozy until 2012.- The Daily Telegraph |
| | Free International Money Transfers | | Our foreign exchange partner, FAIRFX offers you leading
exchange rates plus zero transfer fees to send money abroad.
To get an instant quote now and to find out more call 0207 778 9322 or click here to see how much you could save. | | |
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 advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk |
| | | | | | | 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