| | | | | | | | The Top 10 Stocks for your Watch List
From ARM Holdings to Vodafone we look at a handful of stocks that represent the best trading opportunities in Q3. Get your copy of this report >> 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: Stocks fall after mixed signals from FOMC minutes UK stocks fell after the Federal Reserve's policy meeting minutes sent mixed signals on the timing of an interest rate hike. The minutes of the 29 July meeting, indicated that the policymakers were still looking to have more confidence in the inflation outlook before raising rates, but saw conditions for a rate hike approaching.
"Most members saw room for some additional progress in reducing labour market slack, although several viewed current labour market conditions as at or very close to those consistent with maximum employment," the minutes, leaked early by one media outlet, said.
Capital Economics chief US economist Paul Ashworth said he understood the minutes to mean so as long as the incoming data on GDP growth and the labour market match the Fed's existing forecasts, officials would be confident enough that inflation was going back to its target of 2% in the medium-term to start raising interest rates in September.
CPI figures released on Wednesday revealed the rate of US inflation decreased in July, with both the headline and core consumer prices index increasing 0.1% month-on-month, short of consensus forecasts for a 0.2% rise. Year-on-year figures were in line with expectations, however, with headline CPI up 0.2%, and up from the 0.1% annual growth recorded in June.
On Thursday's agenda, UK retail sales figures at 0930 BST are expected to show consumers spent more in July as lower fuel and food prices give spending power a boost.
The data from the Office for National Statistics is forecast to reveal retail sales rose 4.3% year-on-year in July, compared to 4.2% in June. On a month-on-month basis sales are predicted to have increased 0.4% in July following a 0.2% fall a month earlier.
Any signs of further economic recovery in the UK are likely to lift expectations that an interest rate increase by the Bank of England is drawing near.
Later on, the US sees the release of reports on existing home sales and initial jobless claims.
In company news, Premier Oil gained despite swinging to a pre-tax loss in the first half, missing analysts' expectations as it took a hit from impairment charges and lower oil prices. However the company maintained its full-year production guidance at 55,000 barrels of oil equivalent per day and said its Solan field was on track for first oil in the fourth quarter of 2015, while the Catcher field is on track for 2017.
Rank Group advanced as it posted a 19% rise in pre-tax profit for the 12 months ended 30 June, with a significant improvement across all the company's brands.
British American Tobacco slumped following reports Australia's Cancer Council of Victoria will fight a freedom of information request by the company to access information from classroom surveys about young people's attitudes towards smoking.
A batch of miners rallied including Fresnillo, Anglo American and Randgold Resources and metal prices moved higher. |
| | Market Movers
techMARK 3,119.63 -0.42%
FTSE 100 6,378.62 -0.39%
FTSE 250 17,346.62 -0.30%
FTSE 100 - Risers
Fresnillo (FRES) 662.50p +2.24%
Pearson (PSON) 1,167.00p +2.01%
Anglo American (AAL) 723.00p +1.92%
Randgold Resources Ltd. (RRS) 4,094.00p +1.79%
Antofagasta (ANTO) 558.50p +1.18%
Glencore (GLEN) 160.75p +1.13%
Compass Group (CPG) 1,036.00p +0.88%
Standard Chartered (STAN) 833.30p +0.88%
Rio Tinto (RIO) 2,343.00p +0.86%
BHP Billiton (BLT) 1,078.50p +0.65%
FTSE 100 - Fallers
British American Tobacco (BATS) 3,582.50p -2.04%
Mondi (MNDI) 1,503.00p -2.02%
Hikma Pharmaceuticals (HIK) 2,416.00p -1.87%
Hammerson (HMSO) 659.50p -1.42%
Prudential (PRU) 1,495.00p -1.29%
Tesco (TSCO) 192.25p -1.28%
Taylor Wimpey (TW.) 201.40p -1.27%
Smith & Nephew (SN.) 1,154.00p -1.20%
Weir Group (WEIR) 1,337.00p -1.18%
Sage Group (SGE) 514.00p -1.15%
FTSE 250 - Risers
Kaz Minerals (KAZ) 187.40p +20.36%
Rank Group (RNK) 258.10p +3.24%
Euromoney Institutional Investor (ERM) 1,059.00p +2.82%
Polymetal International (POLY) 459.00p +2.62%
Ladbrokes (LAD) 107.60p +2.28%
Acacia Mining (ACA) 250.00p +1.63%
AO World (AO.) 127.00p +1.60%
Dechra Pharmaceuticals (DPH) 955.00p +1.54%
Ophir Energy (OPHR) 89.80p +1.47%
Allied Minds (ALM) 473.20p +1.41%
FTSE 250 - Fallers
Regus (RGU) 259.10p -5.51%
Drax Group (DRX) 278.70p -5.17%
Tullow Oil (TLW) 192.20p -3.71%
Synergy Health (SYR) 1,653.00p -3.22%
Clarkson (CKN) 2,298.00p -2.67%
Premier Farnell (PFL) 131.70p -2.44%
Northgate (NTG) 514.50p -2.28%
CLS Holdings (CLI) 1,905.00p -2.21%
Fidelity China Special Situations (FCSS) 124.40p -2.12%
Wood Group (John) (WG.) 549.00p -2.05%
FTSE TechMARK - Risers
BATM Advanced Communications Ltd. (BVC) 19.00p +2.70%
XP Power Ltd. (DI) (XPP) 1,687.50p +1.96%
Dialight (DIA) 562.00p +0.99%
Oxford Biomedica (OXB) 7.88p +0.83%
Spirent Communications (SPT) 80.75p +0.62%
NCC Group (NCC) 246.00p +0.20%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 201.62 +0.16%
FTSE TechMARK - Fallers
Innovation Group (TIG) 34.50p -2.13%
Ricardo (RCDO) 925.00p -1.91%
Oxford Instruments (OXIG) 884.00p -0.84%
KCOM Group (KCOM) 93.00p -0.53%
RM (RM.) 173.25p -0.43%
CML Microsystems (CML) 365.00p -0.41% |
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| | UK Event Calendar | | Thursday August 20
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Internet Retail Sales (09:30)
Retail Sales (09:30)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Existing Home Sales (US) (15:00)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
Philadelphia Fed Index (US) (15:00)
Producer Price Index (GER) (07:00)
Q2
New World Resources A Shares
FINALS
Rank Group
INTERIMS
Costain Group, Eurasia Drilling Co Ltd GDR (Reg S), Kaz Minerals, Mail.ru Group Ltd GDR (Reg S), New World Resources A Shares, Phoenix Group Holdings (DI), PJSC Cherkizovo Group GDR (Reg S), Polypipe Group, Premier Oil, Primary Health Properties, Sanne Group, Sportech, Stock Spirits Group , TT Electronics
INTERIM EX-DIVIDEND DATE
British American Tobacco, Dairy Farm International Holdings Ltd (Bermuda), Dairy Farm International Holdings Ltd. (Jersey), Dairy Farm International Holdings Ltd. (Singapore), FDM Group (Holdings), Fidessa Group, Hammerson, Henderson Opportunities Trust, Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdings Ltd. (Singapore), Mandarin Oriental International (Bermuda), Mandarin Oriental International (Jersey), Mandarin Oriental International (Singapore), Mobeus Income & Growth 4 Vct, Mobeus Income & Growth Vct, Mondi, Partnership Assurance Group , Prudential, Quartix Holdings , Secure Trust Bank, SEGRO, Taylor Wimpey, VPC Specialty Lending Investments
QUARTERLY PAYMENT DATE
Fair Oaks Income Fund Limited , SQN Asset Finance Income Fund Limited
QUARTERLY EX-DIVIDEND DATE
Brunner Inv Trust, Carnival, M Winkworth, Raven Russia Ltd. Cum Red Pref Shares, Utilico Investments Ltd (DI)
SPECIAL EX-DIVIDEND PAYMENT DATE
Lindsell Train Inv Trust
AGMS
Marimedia (DI)
FINAL DIVIDEND PAYMENT DATE
Development Securities
FINAL EX-DIVIDEND DATE
Aberdeen Private Equity Fund Ltd. Sterling Part Shares, First Property Group, JPMorgan Brazil Inv Trust , Lindsell Train Inv Trust, Northgate, PHSC, red24, World Trust Fund |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Equities in the red as investors digest Fed minutes European stocks were in the red after an hour's trading on Thursday, taking their cue from downbeat sessions in the US and Asia as investors digested the latest minutes from the Federal Reserve. At 0900 BST, the benchmark Stoxx Europe 600 index was down 0.3%, France's CAC 40 was 0.2% weaker and Germany's DAX was off 0.6%.
"European markets are tracking further declines in Asia overnight as concerns remain over the growth prospects of the Chinese economy," said Andy McLevey, head of dealing at Interactive Investor.
"With mixed messages from the Federal Reserve the likelihood of a September rate hike seems to have diminished amid concerns surrounding the state of the global economy. Beleaguered investors are seeing little in the way of encouragement to tempt them back into equities and the volatility of late is set to continue although given recent losses there may be an opportunity to pick up the odd bargain here or there."
The minutes released by the Federal Reserve on Wednesday suggested that officials were broadly in agreement that the US economy was approaching a point at which interest rates should move higher. However, they also highlighted lagging inflation and weakness in the global economy as risks, casting doubt over a September rate hike.
Meanwhile, Greece remained in focus after the German parliament voted in favour of the country's third bailout on Wednesday. According to press reports early on Thursday, Greece has made a €3.2bn repayment to the European Central Bank as it received the first tranche of its bailout money from the European Stability Mechanism.
On the corporate front, shares in Dutch grocery company Ahold rallied after it posted a 33% jump in second-quarter profit.
On the downside, logistics group Deutsche Post was weaker after a German magazine said it was facing claims for back taxes of €1.5bn.
In London, shares in Premier Oil fell after the company said it swung to a pre-tax loss in the first half, missing analysts' expectations as it took a hit from impairment charges and lower oil prices. |
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| | US Market Report | | US Close: Stocks pare back losses after Fed minutes US Stocks pared back losses on Wednesday as traders analysed the Federal Open Market Committee's July meeting minutes. The Dow Jones Industrial Average closed down 0.93%, the S&P 500 fell 0.81% and the Nasdaq ended 0.80%lower.
Wednesday data
The Federal Open Market Committee's July meeting minutes, leaked early by one media outlet, sent mixed signals by indicating the Fed was still looking to have more confidence in the inflation outlook before raising rates, but saw conditions for a rate hike approaching.
"Most members saw room for some additional progress in reducing labor market slack, although several viewed current labour market conditions as at or very close to those consistent with maximum employment," the minutes said.
Capital Economics chief US economist Paul Ashworth said a dovish market reaction to the minutes was overdone and a September rate hike looks a distinct possibility.
Ashworth said according to the minutes most committee members judged that the conditions for policy firming had not been achieved, but noted conditions were approaching that point.
The economist said he understood the minutes to mean so as long as the incoming data on GDP growth and the labour market match the Fed's existing forecasts, officials would be confident enough that inflation was going back to 2% in the medium-term to start raising interest rates in September.
CPI figures released on Wednesday revealed the rate of US inflation decreased in July, with both the headline and core consumer prices index increasing 0.1% month-on-month, short of consensus forecasts for a 0.2% rise. Year-on-year figures were in line with expectations, however, with headline CPI up 0.2%, and up from the 0.1% annual growth recorded in June.
Applications for US home mortgages grew last week, data released on Wednesday showed. The Mortgage Bankers Association said its seasonally adjusted index of application activity, which covers home purchase demand and refinancing demand, climbed 3.6% in the week ended 14 August.
Germany backs third Greek bailout
Elsewhere, European stocks fell amid disappointing earnings and ongoing worries about China, although there was some good news as it emerged the German parliament has backed Greece's third bailout.
The dollar fell by 0.5% against the yen, dropped almost 1% against the euro and nudged up almost 1% against the pound, while gold futures rose 1.54% to 1,134.10.
Oil prices slid, with West Texas Intermediate losing 4.5% to $ 40.77 a barrel, while Brent shed 4.1% to $46.89 a barrel.
In company news, Peabody Energy Corp rose by 25.89% after climate philanthropist George Soros invested millions in the company.
Crude Oil prices sank for a second day, putting pressure on Chevron Corporation, which was down 3.02%. Other stocks to suffer included Marathon Oil which fell by 7.15% and Newfield Exploration which fell by 3.82%
S&P 500 - Risers
Peabody Energy Corp. (BTU) $1.41 +25.89%
J. M. Smucker Co. (SJM) $111.89 +2.68%
Yum! Brands Inc. (YUM) $86.09 +2.24%
Newmont Mining Corp. (NEM) $17.93 +2.22%
Dollar Tree Inc (DLTR) $80.93 +1.97%
Lowe's Companies Inc. (LOW) $74.35 +1.82%
D. R. Horton Inc. (DHI) $32.22 +1.77%
Exelon Corp. (EXC) $34.16 +1.67%
CH Robinson Worldwide Inc (CHRW) $70.86 +1.59%
Vertex Pharmaceuticals Inc. (VRTX) $141.67 +1.37%
S&P 500 - Fallers
United States Steel Corp. (X) $17.02 -7.80%
Denbury Resources Inc. (DNR) $3.76 -7.39%
Marathon Oil Corp. (MRO) $16.25 -7.04%
Anadarko Petroleum Corp. (APC) $72.39 -5.55%
Sandisk Corp. (SNDK) $53.80 -5.45%
Chesapeake Energy Corp. (CHK) $7.34 -5.35%
Seagate Technology Plc (STX) $49.43 -5.03%
Apache Corp. (APA) $45.81 -4.70%
Nabors Industries Ltd. (NBR) $10.35 -4.70%
Baker Hughes Inc. (BHI) $54.01 -4.66%
Dow Jones I.A - Risers
McDonald's Corp. (MCD) $101.10 +0.34%
Nike Inc. (NKE) $114.95 +0.11%
Merck & Co. Inc. (MRK) $59.66 +0.00%
Dow Jones I.A - Fallers
Chevron Corp. (CVX) $80.92 -3.02%
Exxon Mobil Corp. (XOM) $76.23 -2.14%
Intel Corp. (INTC) $28.36 -1.90%
Caterpillar Inc. (CAT) $77.40 -1.80%
Unitedhealth Group Inc. (UNH) $123.30 -1.75%
3M Co. (MMM) $145.90 -1.62%
Cisco Systems Inc. (CSCO) $27.80 -1.59%
Microsoft Corp. (MSFT) $46.61 -1.40%
E.I. du Pont de Nemours and Co. (DD) $53.15 -1.39%
Procter & Gamble Co. (PG) $74.14 -1.32%
Nasdaq 100 - Risers
Dollar Tree Inc (DLTR) $80.93 +1.97%
CH Robinson Worldwide Inc (CHRW) $70.86 +1.59%
Vertex Pharmaceuticals Inc. (VRTX) $141.67 +1.37%
Biogen Inc (BIIB) $315.89 +1.20%
Symantec Corp. (SYMC) $21.86 +0.97%
Analog Devices Inc. (ADI) $58.40 +0.86%
O'Reilly Automotive Inc. (ORLY) $256.47 +0.79%
Google Inc. (GOOGL) $694.04 +0.77%
Google Inc. Class C (GOOG) $660.90 +0.73%
Altera Corp. (ALTR) $49.28 +0.67%
Nasdaq 100 - Fallers
Sandisk Corp. (SNDK) $53.80 -5.45%
Seagate Technology Plc (STX) $49.43 -5.03%
Vimpelcom Ltd Ads (VIP) $5.24 -4.47%
Micron Technology Inc. (MU) $15.90 -2.93%
Monster Beverage Corp (MNST) $147.29 -2.15%
Tesla Motors Inc (TSLA) $255.25 -2.10%
Mondelez International Inc. (MDLZ) $45.22 -2.02%
Baidu Inc. (BIDU) $162.92 -1.92%
Intel Corp. (INTC) $28.36 -1.90%
Western Digital Corp. (WDC) $81.74 -1.88% |
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| | Newspaper Round Up | | Thursday newspaper round-up: German asylum seekers, GVC-Bwin, oil's low Germany is braced to receive a record 800,000 asylum seekers in 2015, more than the entire European Union combined last year, laying bare the size of the biggest refugee crisis to face the continent since World War II. If Berlin's official projection released on Wednesday is borne out, it would be nearly double Germany's previous record for asylum claims. - The Financial Times GVC Holdings is prepared to increase its offer for Bwin.party to at least 130p a share - or nearly £1.1 billion - in a final push to secure a takeover of its online gambling rival. The Times understands that the Sportingbet owner, whose present cash-and-shares offer is worth 124p, is ready to raise the stakes for a second time to ensure that it defeats 888 Holdings, its rival in the auction. - The Times
Global oil prices were hammered to their lowest level in more than six years yesterday amid mounting evidence of a US supply glut and fears of a slowdown in China and other energy-hungry emerging economies. The price of a barrel of West Texas Intermediate, the benchmark US contract, plunged by 4 per cent to $40.60, its lowest since March 2009. - The Times
The publication of the minutes of the Federal Reserve's meeting last month revealed that some policymakers wanted to see further improvement in labour markets before starting to raise interest rates. Initially, US traders interpreted the Fed minutes as indicating that policymakers were pulling back from a widely predicted rate rise next month, but after further time to digest the central bank's minutes, US markets went into decline again on the view that rate-setters had indicated that a December lift-off date remained a distinct possibility, with policymakers saying they were "approaching" the central bank's first interest rate rise in nearly a decade. - The Times
Shares in Glencore plunged by almost 9% yesterday to an all-time low after chief executive Ivan Glasenberg unveiled a collapse in first-half profits as the commodity rout worsens. More than £220m was wiped off the market value of the Swiss-based mining and metals trading giant, making it the worst performing share in the FTSE 100 this year. - The Telegraph
Rural first-time buyers will be given the chance to buy cheap homes in the villages and hamlets where they live or work under plans to allow residential homes to be built on farmland and greenfield sites. As part of a package to boost productivity in rural areas, George Osborne will on Thursday announce that the government's plan for starter homes will be extended to areas that have never been built on around villages, with homes sold at 20% below market rates, will be reserved for first-time buyers who are under 40. - The Times
Hundreds of thousands of UK families are facing the threat of an unexpected increase to their energy bills next month, despite steep recent falls in the wholesale price of energy. Eight fixed-rate energy tariffs, including bestselling options with British Gas and EDF Energy, are scheduled to expire at the end of this month, with customers who fail to switch beforehand automatically bumped on to their supplier's standard rate tariff. - The Times |
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