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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: UK stocks decline ahead of US non-farm payrolls UK stocks were in the red on Friday as investors continued to process news from the Bank of England and look ahead to the all-important US non-farm payrolls report.
BoE Governor Mark Carney on Thursday said the timing of a first interest rate hike was drawing closer but the exact time could not be predicted and will be "data dependent".
Speaking at press conference after the bank's Monetary Policy Committee again held interest rates at their six-year lows, Carney also confirmed that, in light of the muted near term outlook for inflation due to commodity prices, "it wouldn't be surprising if the next few months see negative inflation".
The BoE's Inflation Report, showed officials expect annual inflation to tick back up to the 2% target by the third quarter of 2017 if interest rates rise in line with market expectations.
The Bank decided to keep interest rates at 0.5%, with minutes of the Monetary Policy Committee meeting revealing a vote of 8-1 in favour of this decision. Economists said the chances of an interest rate hike before the end of 2015 had now receded.
Turning to Friday's agenda, all eyes will be on the non-farm payrolls report due at 1430 BST. Analysts expect the data to show US employers added 225,000 jobs in July. The unemployment rate is forecast to have held at 5.3% last month.
The Federal Reserve is closely monitoring the labour market and economic data in determining the timing of the first increase in interest rates in nine years.
Meanwhile, French President François Hollande and Greek Prime Minister Alexis Tsipras on Thursday said a new bailout for the Hellenic nation should be agreed by late August.
The leaders held talks in Egypt on the sidelines of a ceremony to inaugurate Egypt's New Suez Canal. Tsipras said the new deal would be agreed soon after 15 August, but Hollande said it would be by the end of the month.
Miners and oil producers rally
A measure of mining stocks, including Glencore, Anglo American, Antofagasta, BHP Billiton, Rio Tinto and Fresnillo, were topping the FTSE 100 as gold, silver and copper prices rose on the Comex.
Oil producers, including BP, Royal Dutch Shell, Premier Oil and Tullow Oil, recovered from Thursday's slump as crude prices picked up with Brent up 0.8% to $49.94 per barrel and West Texas Intermediate up 0.75% to $45.00 at 0858 BST.
William Hill declined after reporting a 35% fall in pre-tax profit to £78.7m and flat net revenue for the six months to 1 July as it battled through a period of major regulatory and taxation disruption.
Hikma Pharmaceuticals slumped after the company had its 'reduce' rating reaffirmed by AlphaValue. |
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| | Market Movers
techMARK 3,213.62 -0.36%
FTSE 100 6,740.88 -0.09%
FTSE 250 17,706.90 -0.22%
FTSE 100 - Risers
Glencore (GLEN) 204.40p +2.56%
Anglo American (AAL) 795.00p +2.53%
Antofagasta (ANTO) 591.50p +1.98%
BHP Billiton (BLT) 1,197.50p +1.87%
Rio Tinto (RIO) 2,618.50p +1.67%
BP (BP.) 388.95p +1.50%
Weir Group (WEIR) 1,529.00p +1.26%
Fresnillo (FRES) 647.00p +1.01%
Royal Dutch Shell 'B' (RDSB) 1,898.50p +0.72%
ARM Holdings (ARM) 954.00p +0.69%
FTSE 100 - Fallers
ITV (ITV) 262.40p -3.49%
Hikma Pharmaceuticals (HIK) 2,327.00p -2.72%
Travis Perkins (TPK) 2,123.00p -2.08%
Next (NXT) 7,885.00p -1.62%
Intertek Group (ITRK) 2,673.00p -1.37%
Shire Plc (SHP) 5,325.00p -1.30%
AstraZeneca (AZN) 4,355.50p -1.29%
Sky (SKY) 1,086.00p -1.27%
Marks & Spencer Group (MKS) 544.00p -1.18%
Capita (CPI) 1,293.00p -1.15%
FTSE 250 - Risers
Premier Oil (PMO) 126.30p +5.51%
IP Group (IPO) 214.70p +4.17%
Tullow Oil (TLW) 231.50p +3.21%
Kaz Minerals (KAZ) 161.00p +2.81%
Acacia Mining (ACA) 240.80p +2.51%
Amec Foster Wheeler (AMFW) 828.00p +2.29%
Aggreko (AGK) 1,155.00p +2.21%
Petrofac Ltd. (PFC) 870.50p +1.99%
Ophir Energy (OPHR) 114.30p +1.96%
Dairy Crest Group (DCG) 616.50p +1.90%
FTSE 250 - Fallers
NMC Health (NMC) 849.50p -4.50%
William Hill (WMH) 392.40p -4.50%
Enterprise Inns (ETI) 115.90p -2.44%
Computacenter (CCC) 749.00p -2.35%
Indivior (INDV) 252.50p -2.06%
CLS Holdings (CLI) 1,901.00p -2.01%
Dechra Pharmaceuticals (DPH) 959.00p -1.94%
Foxtons Group (FOXT) 235.20p -1.59%
Ocado Group (OCDO) 391.50p -1.51%
Betfair Group (BET) 2,748.00p -1.47%
FTSE TechMARK - Risers
UCW Limited (UCW) A$0.01 +8.33%
Dialight (DIA) 572.50p +4.09%
Oxford Instruments (OXIG) 930.00p +1.36%
Oxford Biomedica (OXB) 9.00p +0.45%
XP Power Ltd. (DI) (XPP) 1,739.00p +0.35%
Anite (AIE) 125.75p +0.20%
Consort Medical (CSRT) 923.50p +0.16%
FTSE TechMARK - Fallers
KCOM Group (KCOM) 95.00p -2.31%
Spirent Communications (SPT) 79.75p -1.54%
Ricardo (RCDO) 910.00p -0.38%
NCC Group (NCC) 235.25p -0.32% |
| | UK Event Calendar | | Friday 07 August
INTERIMS
Catlin Group Ltd., William Hill
INTERIM DIVIDEND PAYMENT DATE
CVC Credit Partners European Opportunities Ltd EURO, CVC Credit Partners European Opportunities Ltd GBP, Driver Group, Heavitree Brewery, Heavitree Brewery 'A' Shares, Jupiter Green Inv Trust, Pressure Technologies
QUARTERLY PAYMENT DATE
British Land Company, Investors Capital Trust 'A' Shares
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (00:00)
Consumer Credit (US) (20:00)
Current Account (GER) (07:00)
Industrial Production (GER) (11:00)
Non-Farm Payrolls (US) (13:30)
Retail Price Index (GER) (07:00)
Unemployment Rate (US) (13:30)
GMS
Jubilee Platinum
FINALS
Real Good Food
SPECIAL DIVIDEND PAYMENT DATE
Octopus AIM VCT
AGMS
Central Rand Gold Ltd, Market Tech Holdings Limited
FINAL DIVIDEND PAYMENT DATE
Anglo Pacific Group, B&M European Value Retail S.A. (DI), Bond International Software, Cable & Wireless Communications, Cropper (James), Downing One VCT , Energy Technique, Ensor Holdings, Infinis Energy, Martin Currie Pacific Trust, Monks Inv Trust, Next Fifteen Communications, Octopus AIM VCT, Quantum Pharma, VP, Walker Crips Group, Walker Greenbank, Workspace Group |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge lower ahead of nonfarm payrolls report European equity markets edged lower in early trade as investors erred on the side of caution ahead of the all-important nonfarm payrolls release.
At 0900 BST, the benchmark Stoxx Europe 600 index and France's CAC 40 were down 0.4%, while Germany's DAX was 0.5% lower.
"The main focus today will be on US employment numbers with many considering this as the crucial set of data in regard to when rates will finally go up," said Markus Huber, senior analyst at Peregrine & Black.
"The Fed might just follow the Bank of England in holding off just a bit longer until next year, which probably would make sense considering there are no price pressures at all in the foreseeable future plus it is still not certain if China and the Eurozone have indeed turned the corner," he added.
Data released by the Labor Department on Thursday showed the number of Americans filing new claims for unemployment benefits rose a little less than expected last week. Initial claims increased by 3,000 to a seasonally-adjusted 270,000, compared with expectations for 273,000.
Corporate news was thin on the ground on Friday.
In London, bookmaker William Hill was sharply lower after posting a 35% fall in pre-tax profit for the six months to 1 July, as it battled through a period of major regulatory and taxation disruption.
Allianz edged lower as second-quarter operating profit fell a little short of expectations, although the insurer posted a bigger-than-expected jump in profit and expressed confidence over its full-year targets.
Mining giant Rio Tinto bucked the trend, trading higher after Macquarie upgraded the stock to 'outperform' from 'neutral' following the company's strong first-half results.
Shares in Italy's Banca Monte dei Paschi di Siena rallied after the bank's second-quarter earnings beat expectations.
Data released earlier showed industrial production in Germany unexpectedly fell in June. On a seasonally-adjusted basis, output fell 1.4% month-on-month from a revised reading of 0.2% growth in April and compared with expectations for a 0.3% rise. |
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| | US Market Report | | US close: Stocks end in the red as media sector weighs US stocks ended in the red, led lower by weakness in the media sector on the back of disappointing corporate results, as investors looked to Friday's nonfarm payrolls report.
The Dow Jones Industrial Average closed down 0.7%, the S&P 500 ended 0.8% weaker and the Nasdaq finished 1.6% lower.
Thursday data
Initial US unemployment claims rose for the second straight week, reaching their second-lowest level since the recession ended, data released on Thursday showed.
In the week ended 1 August, initial claims increased by 3,000 to reach 270,000, according to figures published by the Department of Labor, in line with consensus for a 272,000 reading.
"On balance, low trend levels of initial and continuing jobless claims support our view of healthy labor markets," analysts at Barclays said in a note.
"We look for non-farm payroll gains of 200k in tomorrow's July employment report."
Nonfarm payrolls are due on Friday, so it's likely investors were a little nervous ahead of the release as it will be closely watched for any clues on the timing of the next Federal Reserve rate hike.
Mondelez surges, Viacom, 21st Century and Tesla slump
Media stocks were under the cosh on Thursday.
Viacom tumbled after its third-quarter earnings fell short of consensus expectations, dented by lower advertising revenue from its US cable TV business.
Shares in film and TV company 21st Century Fox suffered heavy losses. On Wednesday, the company's fourth-quarter earnings came in better than expected, but its revenue fell short of estimates as losses in entertainment offset gains in sports advertising.
Meanwhile, Walt Disney dropped for a second day after its chief executive Robert Iger noted subscriber losses at ESPN late on Tuesday.
Elsewhere, coffee machine producer Keurig Green Mountain plunged after it reported a drop in sales and unveiled plans for job cuts late on Wednesday.
Electric car-maker Tesla Motors ended sharply lower despite topping Wall Street's estimates as it revealed its full-year sales will fall short of expectations.
On the upside, however, Mondelez International ended in positive territory on news that the activist investor Bill Ackman has invested $5.5bn in the snack giant.
SeaWorld Entertainment racked up solid gains after the company maintained its projections for the year, although its second-quarter profit and revenue fell short of expectations.
Fashion retailer Michael Kors surged after reporting better-than-expected first-quarter earnings.
The dollar was broadly flat against the yen and a little weaker against the euro, but gained 0.5% against the pound, while gold futures rose 0.3% to $1,089 an ounce.
Oil prices edged lower, with West Texas Intermediate losing 1% to $44.71 a barrel, while Brent was little changed at $49.61 a barrel.
S&P 500 - Risers
Chesapeake Energy Corp. (CHK) $8.18 +16.36%
Denbury Resources Inc. (DNR) $3.58 +15.11%
Transocean Ltd. (RIG) $13.84 +12.16%
Nabors Industries Ltd. (NBR) $12.40 +10.62%
Windstream Holdings Inc (WIN) $5.69 +9.85%
Helmerich & Payne Inc. (HP) $61.67 +7.33%
Newfield Exploration Co (NFX) $34.76 +6.79%
Diamond Offshore Drilling Inc. (DO) $22.29 +6.40%
Ensco Plc. (ESV) $17.18 +6.38%
Noble Corporation plc (NE) $12.38 +5.72%
S&P 500 - Fallers
Keurig Green Mountain Inc (GMCR) $52.67 -29.75%
Teradata Corp. (TDC) $30.43 -16.10%
Viacom Inc. Class B (VIAB) $44.10 -14.22%
Genworth Financial Inc. (GNW) $5.22 -7.61%
Dun & Bradstreet Corp. (DNB) $116.08 -7.48%
Twenty-First Century Fox Inc Class A (FOXA) $29.87 -6.42%
Harman International Industries Inc. (HAR) $111.00 -5.94%
Monster Beverage Corp (MNST) $144.87 -5.93%
Biogen Inc (BIIB) $316.60 -5.61%
Darden Restaurants Inc. (DRI) $70.79 -5.50%
Dow Jones I.A - Risers
Chevron Corp. (CVX) $85.19 +1.38%
Exxon Mobil Corp. (XOM) $78.11 +1.22%
Caterpillar Inc. (CAT) $77.47 +0.77%
United Technologies Corp. (UTX) $98.99 +0.12%
Verizon Communications Inc. (VZ) $46.64 +0.00%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $46.61 -2.04%
Visa Inc. (V) $73.58 -1.87%
Pfizer Inc. (PFE) $35.18 -1.79%
Walt Disney Co. (DIS) $108.56 -1.78%
Unitedhealth Group Inc. (UNH) $122.06 -1.50%
Johnson & Johnson (JNJ) $99.08 -1.43%
Nike Inc. (NKE) $115.13 -1.39%
Home Depot Inc. (HD) $116.56 -1.22%
3M Co. (MMM) $149.29 -1.14%
Merck & Co. Inc. (MRK) $58.45 -1.10%
Nasdaq 100 - Risers
Discovery Communications Inc. Class A (DISCA) $29.88 +3.48%
Netflix Inc. (NFLX) $126.45 +2.21%
Mylan Inc. (MYL) $55.40 +1.47%
Mondelez International Inc. (MDLZ) $46.81 +1.12%
Baidu Inc. (BIDU) $174.46 +1.00%
Sba Communications Corp. (SBAC) $121.50 +0.64%
Xilinx Inc. (XLNX) $42.88 +0.40%
Linear Technology Corp. (LLTC) $41.68 +0.39%
Priceline Group Inc (PCLN) $1,351.80 +0.04%
Activision Blizzard Inc. (ATVI) $28.71 +0.00%
Nasdaq 100 - Fallers
Keurig Green Mountain Inc (GMCR) $52.67 -29.75%
Viacom Inc. Class B (VIAB) $44.10 -14.22%
Tesla Motors Inc (TSLA) $246.13 -8.88%
Vimpelcom Ltd Ads (VIP) $5.44 -6.85%
Twenty-First Century Fox Inc Class A (FOXA) $29.87 -6.42%
Monster Beverage Corp (MNST) $144.87 -5.93%
Biogen Inc (BIIB) $316.60 -5.61%
Alexion Pharmaceuticals Inc. (ALXN) $189.73 -4.15%
Expedia Inc. (EXPE) $121.59 -4.10%
Amgen Inc. (AMGN) $169.66 -3.84% |
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| | Newspaper Round Up | | Friday newspaper round-up: British high streets, SFO, Energy companies Britain's high streets are in the grip of their worst summer for six years as shoppers hold back on spending amid uncertainty over interest rate rises, according to a report. The BDO High Street Sales Tracker recorded a 1.1pc drop in year-on-year sales for July, which means sales have fallen every month since May for the first time since 2009. - The Telegraph
The head of the Serious Fraud Office has admitted that the future of the crime-fighting agency is shrouded in uncertainty despite the conviction of former City trader Tom Hayes for Libor-rigging and its ongoing work on a string of high-profile corporate cases. Theresa May, the home secretary, is understood to be keen to fold the SFO into a larger National Crime Agency after a series of setbacks for the agency, including an embarrassing climbdown over a bungled investigation into tycoons Vincent and Robert Tchenguiz. - The Guardian
Dairy farmers are telling consumers not to buy milk at Morrisons, Aldi, Lidl and Asda as the battle over prices spills on to the high street for the second time in three years. Farmers have been protesting in UK supermarkets this week, with more action planned on Thursday night, after three major milk processors - Arla, First Milk and Dairy Crest - all said at the weekend they would cut the price they pay farmers. - The Guardian
Labour would start buying up shares in the "big six" energy companies under a Jeremy Corbyn government until it owned a controlling stake, the party's leftwing leadership contender has said. Corbyn, whose support has surged during the campaign and is now narrowly the second favourite to win, wants to nationalise British Gas, SSE, Eon, RWE Npower, Scottish Power and EDF, as well as the National Grid. - The Financial Times |
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