Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 30 September 2015 10:18:37 Monitor Quote Charts News CFD's Spreadbetting Free BB   Tesco, Sainsbury's & Morrisons: Are UK grocers set for imminent growth? Download this report in which we look at the sector and its prospects for the rest of 2015.  Which of the big four will adapt quickest to this 'new normal'? Which has the fewest skeletons in the closet? Which is ripe for acquisition? 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 rise as Sainsbury's and Glencore rally UK stocks rose on Wednesday, as a positive trading update from J Sainsbury lifted supermarket stocks. J Sainsbury topped the FTSE 100 after saying it expected full-year underlying pre-tax profit to be moderately ahead of its £548m forecast ,as it reported a 0.3% increase in second-quarter retail sales, excluding fuel. The report lifted shares in Morrison Supermarkets and Tesco. Glencore also rallied after saying it has taken proactive steps to position the mining company to withstand current market conditions including weak commodity prices. The group's stocks plunged on Monday after Investec highlighted debt concerns and said there was little equity value for shareholders. Turning to economic data, Nationwide revealed UK house prices climbed 0.5% month-on-month in September compared with an upwardly revised 0.4% increase in August and with analysts' expectations for a 0.4% gain. On a year-on-year basis, prices grew 3.8%, faster than the 3.2% pace seen in July and in line with consensus expectations. "The data in recent months provides some encouragement that the pace of house price increases may be stabilising close to the pace of earnings growth," said Nationwide chief economist Robert Gardner. "However, the risk remains that construction activity will lag behind strengthening demand, putting upward pressure on house prices and eventually reducing affordability." German retail sales fell 0.4% month-on-month compared with a sharp 1.6% rise registered in July and falling short of analysts' expectations for a 0.2% gain, the Federal Statistics Office said. On a year-on-year basis, retail sales grew 2.5% but remained short of the 3.1% consensus forecast and comfortably below the 3.8% year-on-year increase registered in the previous month. German unemployment rose by 2,000 in September, compared to estimates for a 5,000 drop and following the previous month's 6,000 decline. The unemployment remained at 6.4% this month, as expected. Still to come, revised UK gross domestic product figures are due at 09:30 BST, followed by Eurozone inflation at 1000 BST, the US private payrolls report at 1315 BST and the Chicago manufacturing purchasing mangers' index at 1445 BST. The reports come amid speculation on an interest rate rise by the Bank of England and the Federal Reserve and on the expanding of the European Central Bank's quantitative easing programme. Federal Reserve Chair Janet Yellen will speak after the close in St. Louis, potentially elaborating on her remarks that she expected the central bank will raise interest rates this year. Market Movers techMARK 3,001.08 +1.42% FTSE 100 6,016.79 +1.82% FTSE 250 16,653.35 +1.28% FTSE 100 - Risers Sainsbury (J) (SBRY) 255.20p +11.30% Glencore (GLEN) 84.89p +5.78% Morrison (Wm) Supermarkets (MRW) 163.00p +4.42% Tesco (TSCO) 178.05p +3.94% Old Mutual (OML) 188.00p +3.24% GKN (GKN) 263.40p +3.09% SSE (SSE) 1,479.00p +2.92% Unilever (ULVR) 2,676.00p +2.80% Aviva (AV.) 440.30p +2.78% International Consolidated Airlines Group SA (CDI) (IAG) 585.50p +2.72% FTSE 100 - Fallers Fresnillo (FRES) 590.00p -1.09% FTSE 250 - Risers Kaz Minerals (KAZ) 76.55p +5.30% Just Eat (JE.) 409.00p +3.44% Victrex plc (VCT) 1,714.00p +3.13% Crest Nicholson Holdings (CRST) 577.50p +3.12% Auto Trader Group (AUTO) 337.70p +2.96% Aldermore Group (ALD) 283.80p +2.83% Saga (SAGA) 206.80p +2.83% Tullow Oil (TLW) 171.30p +2.82% Man Group (EMG) 152.70p +2.76% Spire Healthcare Group (SPI) 364.90p +2.62% FTSE 250 - Fallers Entertainment One Limited (ETO) 243.00p -10.66% Just Retirement Group (JRG) 158.00p -2.35% Acacia Mining (ACA) 244.60p -1.25% Computacenter (CCC) 749.00p -0.73% Alent (ALNT) 483.40p -0.51% Rathbone Brothers (RAT) 2,036.00p -0.44% BH Macro Ltd. GBP Shares (BHMG) 2,046.00p -0.29% Electra Private Equity (ELTA) 3,267.45p -0.23% F&C Commercial Property Trust Ltd. (FCPT) 138.70p -0.22% P2P Global Investments (P2P) 1,060.00p -0.19% FTSE TechMARK - Risers SDL (SDL) 335.00p +4.20% XP Power Ltd. (DI) (XPP) 1,620.00p +2.27% Skyepharma (SKP) 355.75p +2.08% Spirent Communications (SPT) 75.50p +2.03% NCC Group (NCC) 275.00p +0.82% IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 202.63 +0.03% FTSE TechMARK - Fallers RM (RM.) 162.00p -3.57% Oxford Instruments (OXIG) 585.00p -0.85% Consort Medical (CSRT) 919.00p -0.43% Spread Bet And Earn An Apple Watch With Spreadex UK Event Calendar Wednesday 30 September INTERIMS Camper & Nicholsons Marina Investments Ltd., Gama Aviation , InternetQ, Lekoil Ltd (DI), Northbridge Industrial Services, Saga , ServicePower Technologies INTERIM DIVIDEND PAYMENT DATE 888 Holdings, Aviva 8 3/8% Cumulative Irrd Preference 1, British American Tobacco, Martinco , Northern Electricity Prf, Rights & Issues Inv Trust Income Shares, Sanne Group, The Renewables Infrastructure Group Limited QUARTERLY PAYMENT DATE Custodian Reit , Ediston Property Investment Company, HICL Infrastructure Company Ltd, Imperial Tobacco Group, MedicX Fund Ltd., Premier Energy & Water Trust, Raven Russia Ltd. Cum Red Pref Shares, Real Estate Credit Investments PCC Ltd Pref Shs INTERNATIONAL ECONOMIC ANNOUNCEMENTS Chicago PMI (US) (14:45) Crude Oil Inventories (US) (15:30) International Reserves (EU) (11:00) MBA Mortgage Applications (US) (12:00) Unemployment Rate (EU) (10:00) Unemployment Rate (GER) (08:55) GMS Empyrean Energy, Tesco FINALS Capital Lease Aviation SPECIAL DIVIDEND PAYMENT DATE Hargreaves Lansdown, Premier Energy & Water Trust AGMS AdEPT Telecom, Angle, Cambium Global Timberland Ltd., Fastnet Equity , Fulcrum Utility Services Ltd. (DI), Galileo Resources, Ilika, Provexis, Puma High Income VCT , Tricor, Vast Resources, Vast Resources TRADING ANNOUNCEMENTS Sainsbury (J) UK ECONOMIC ANNOUNCEMENTS Balance of Payments (09:30) Consumer Confidence (09:30) Current Account (09:30) GDP (quarterly national accounts) (09:30) GFK Consumer Confidence (00:05) Index of Services (09:30) FINAL DIVIDEND PAYMENT DATE Clipper Logistics , Cohort, Downing Four VCT DSO 'D' Shs, First Property Group, Hargreaves Lansdown, International Greetings, PHSC, Stagecoach Group When Can You Retire? If you have £250,000, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can user right now. Don't miss it! Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Equity markets push higher, with autos pacing the advance European stocks pushed higher in early trade, taking their cue from upbeat sessions in the US and Asia, with autos pacing the advance. At 0850 BST, the benchmark Stoxx Europe 600 index was up 2%, France's CAC 40 was 2.2% higher and Germany's DAX was up 2.1%. The Stoxx 600 autos and parts index was the standout gainer, up 3.7% on news that China has halved sales tax on small cars in a bid to boost the automobile market. "European markets are trading higher this morning managing to build on yesterday's late bounce on the back of firmer markets across Asia overnight," said Markus Huber, senior analyst at Peregrine & Black. "It appears that at least in Asia 'bears' are taking some money off the table in light of today being the last trading day of the month/quarter and some stock markets having had the worst quarter in several years. There is also news that China will cut the small passenger vehicle purchase tax which is another sign that China continues to work to implement new measures to strengthen the economy." Huber said this was much-needed good news for European car makers, especially with the Volkswagen scandal still looming heavily over the entire sector. Supermarket retailer Sainsbury surged after the company said it expects full-year underlying pre-tax profit to be moderately ahead of its £548m forecast. Peers followed suit, with Tesco and Morrison both firmly in the black. Shares in commodity trader Glencore rallied after it put out a media statement saying it has taken proactive steps to position the company to withstand current commodity market conditions. "Our business remains operationally and financially robust - we have positive cash flow, good liquidity and absolutely no solvency issues," it said. The stock tumbled 29% on Monday to its lowest since the IPO in 2011, after analysts at Investec said Glencore had no equity value at current spot prices. Elsewhere, shares in French electrical goods retailer Darty rocketed after books and music retailer Fnac said it has made a proposal to buy the company for £533m. Data released earlier showed German retail sales suffered an unexpected monthly decline, although a sharp yearly increase indicated private consumption remains a key driver for the economy. According to the Federal Statistics Office, retail sales fell 0.4% month-on-month compared with a 1.6% rise in July and falling short of analysts' expectations for a 0.2% gain. On a year-on-year basis, retail sales grew 2.5%, missing consensus expectations for a 3.1% increase and below the 3.8% year-on-year increase registered in the previous month. Among individual sectors, online and mail-order sales continued to grow strongly in August, although sales in textiles, clothing, shoes and leather goods slumped 10% year-on-year. On Tuesday, Germany's headline CPI fell short of analysts' expectations, leading to speculations the European Central Bank might need to extend its quantitative easing programme. Avoid NHS waiting lists with private medical insurance from AXA PPP healthcare from £1.33 a day* The NHS is under pressure to meet people's healthcare demands. ADVFN are working with AXA PPP healthcare to bring you low cost private healthcare cover. US Market Report US close: Stocks mostly higher after unexpected rise in consumer confidence US stocks finished mostly higher on Tuesday after a better-than-expected report on consumer confidence. The Dow rose 0.29% to 16,049 points and the S&P increased 0.12% while the Nasdaq dropped 0.59%. On Monday US stocks ended at their lowest level since late last month, as fresh concerns over a slowdown in China weighed on sentiment on both sides of the Atlantic. Those worries extended to Asian equity markets on Tuesday, with the main benchmarks all firmly in the red, with the Nikkei Stock Average losing 4.05% and turning negative for the year. Lifting sentiment in the US on Tuesday, a report showed US consumer confidence rose unexpectedly in September. The index monitoring sentiment among US consumers rose to 103.0 in September, up from 101.3 in the previous month and comfortably above analysts' expectations for a 97.3 reading. "While Fed chair Janet Yellen will mainly be focusing on Friday's unemployment data this week, there is still some significance to the consumer confidence figures released today," said Dennis de Jong, managing director at UFX.com. "Broadly in line with expectations, the index points to a level of stability in the world's largest economy, while the moderate upturn will make for pleasing viewing for Yellen. On the downside, US house prices rose less than expected in July, another report showed. The S&P/Case-Shiller 20-city composite index rose from 180.74 in June to 181.90 in July, slightly below the 182.64 reading analysts had expected. Portland, San Diego and other markets in the west of the US led the increase, although prices slid 0.2% when considering seasonal adjustments. However, over the last 12 months, prices have risen 5%, driven higher by strong growth in San Francisco and Denver, where prices have surged 10.4% and 10.3% respectively. In company news, Yahoo! advanced after revealing late on Monday that it was making progress with its plan to spin off its remaining stake in Chinese e-commerce giant Alibaba, which also gained. Meanwhile, oil advanced, with both West Texas Intermediate and Brent gaining 1.7% to $45.24 and 1.8% to $48.22 a barrel respectively. "Oil has been trading in a tight range this month and may well be coiling up for a big move," said Brenda Kelly, head analyst at London Capital Group. "The catalyst will most likely be dollar related rather than the supply/demand drivers." The dollar weakened against the Japanese yen and the euro, but strengthened against the pound in Tuesday trade. S&P 500 - Risers Ensco Plc. (ESV) $14.25 +5.01% Noble Corporation plc (NE) $10.95 +4.68% Teradata Corp. (TDC) $29.20 +3.55% AvalonBay Communities Inc. (AVB) $172.81 +3.33% Peabody Energy Corp. (BTU) $1.26 +3.28% Equity Residential (EQR) $73.55 +3.11% Transocean Ltd. (RIG) $12.35 +3.00% Edwards Lifesciences Corp. (EW) $137.79 +2.91% Helmerich & Payne Inc. (HP) $47.84 +2.88% Medtronic Plc (MDT) $66.37 +2.87% S&P 500 - Fallers Windstream Holdings Inc (WIN) $6.05 -8.89% Under Armour Inc. Class A (UA) $93.96 -6.78% ONEOK Inc. (OKE) $30.86 -6.48% Cabot Oil & Gas Corp. (COG) $21.54 -5.11% Discovery Communications Inc. Class A (DISCA) $26.40 -4.97% Williams Companies Inc. (WMB) $34.93 -4.46% Spectra Energy Corp. (SE) $25.34 -4.23% Masco Corp. (MAS) $24.58 -4.06% CONSOL Energy Inc. (CNX) $9.41 -3.88% Dollar Tree Inc (DLTR) $66.24 -3.58% Dow Jones I.A - Risers 3M Co. (MMM) $141.55 +2.29% Visa Inc. (V) $68.53 +1.98% Johnson & Johnson (JNJ) $93.04 +1.83% Intel Corp. (INTC) $29.25 +1.70% McDonald's Corp. (MCD) $97.48 +1.58% Unitedhealth Group Inc. (UNH) $114.22 +1.35% United Technologies Corp. (UTX) $87.98 +1.32% General Electric Co. (GE) $24.57 +1.07% Walt Disney Co. (DIS) $99.42 +0.94% Caterpillar Inc. (CAT) $64.31 +0.82% Dow Jones I.A - Fallers Apple Inc. (AAPL) $109.06 -3.01% Nike Inc. (NKE) $119.67 -2.02% Home Depot Inc. (HD) $112.91 -1.04% Goldman Sachs Group Inc. (GS) $171.86 -0.67% Verizon Communications Inc. (VZ) $43.53 -0.48% American Express Co. (AXP) $73.10 -0.33% JP Morgan Chase & Co. (JPM) $59.84 -0.23% Cisco Systems Inc. (CSCO) $25.64 -0.08% International Business Machines Corp. (IBM) $142.47 -0.04% Nasdaq 100 - Risers Baidu Inc. (BIDU) $136.63 +2.68% Twenty-First Century Fox Inc Class A (FOXA) $25.80 +2.42% Yahoo! Inc. (YHOO) $28.26 +2.39% Cerner Corp. (CERN) $59.48 +2.29% Micron Technology Inc. (MU) $14.38 +2.28% Biogen Inc (BIIB) $278.23 +2.19% Nvidia Corp. (NVDA) $23.70 +1.72% Intel Corp. (INTC) $29.25 +1.70% Whole Foods Market Inc. (WFM) $31.27 +1.69% Western Digital Corp. (WDC) $69.37 +1.64% Nasdaq 100 - Fallers Discovery Communications Inc. Class A (DISCA) $26.40 -4.97% Dollar Tree Inc (DLTR) $66.24 -3.58% Symantec Corp. (SYMC) $19.35 -3.25% Apple Inc. (AAPL) $109.06 -3.01% Facebook Inc. (FB) $86.67 -2.85% Charter Communications Inc. (CHTR) $167.36 -2.75% Mattel Inc. (MAT) $21.03 -2.68% Vimpelcom Ltd Ads (VIP) $4.09 -2.62% Mylan Inc. (MYL) $39.80 -2.59% Blue Chip Opportunities - Morgan Stanley issues 'full house' buy alert Morgan Stanley recently put out a 'full house' buy alert, effectively calling the bottom of 2015's late summer equity slump. The last time it issued such a bullish signal, back in 2009 following a massive financial crash, the FTSE100 promptly commenced an uptrend that's still valid today. Download your copy of this report in which we discuss reasons for the August sell-off and why you should seriously consider investing in our five September picks. Losses can exceed deposits   Newspaper Round Up Wednesday newspaper round-up: Carney on fossil fuel, IMF, Volkswagen Rising global interest rates could spark corporate defaults in developing economies and send a shudder through financial markets, the International Monetary Fund has warned. The warning comes as the US Federal Reserve prepares to increase rates for the first time in nine years, with the Bank of England forecast to follow soon after. - The Times Taxpayers are to lend £45 million to a company controlled by Roman Abramovich, one of the world's richest men, as part of a government export drive. Part of the £45 million loan to Evraz, the international steel mills group, will be used to contract Primetals Technologies, a joint venture between Mitsubishi Heavy Industries and Siemens, to upgrade its steelmaking facility in Saskatchewan, Canada. - The Times The governor of the Bank of England has thrown down the gauntlet to the fossil fuel industry with a blunt warning that investors face "potentially huge" losses from climate change action that could make vast reserves of oil, coal and gas "literally unburnable". In a sweeping assessment of the financial risks posed by global warming, Mark Carney acknowledged there was a danger the assets of fossil fuel companies could be left "stranded" by tougher rules to curb climate change. - Financial Times Russia's attempt to become a central player in resolving the Syrian civil war has exposed some of the political divisions among European governments both about Syria and about how to deal with Moscow. Russian President Vladimir Putin seized the initiative at the UN General Assembly on Monday, calling on other nations to join an international coalition to defeat the Islamic State of Iraq and the Levant, also known as Isis or Daesh. He also urged western countries to support the "legitimate" Assad regime. - Financial Times The International Monetary Fund (IMF) has issued a double warning over higher US interest rates, which it said could trigger a wave of emerging market corporate defaults and panic in financial markets as liquidity evaporates. The IMF said corporate debts in emerging markets ballooned to $18 trillion (£12 trillion) last year, from $4 trillion in 2004 as companies gorged themselves on cheap debt. - Telegraph Ralph Lauren is stepping down as CEO of the fashion and home decor empire that he founded nearly 50 years ago. The New York-based company announced that Stefan Larsson, who has been the global president of Gap's low-price Old Navy chain for three years, will succeed him. - Telegraph Britain has slipped to 10th in an influential global competitiveness index after being overtaken by Sweden. The World Economic Forum thinktank, which hosts the gathering of business and political leaders in the Swiss ski resort of Davos each January, said that Britain has slipped one place to rank as the 10th most competitive economy in the world, with Switzerland and Singapore topping the table. - Guardian Volkswagen is poised to recall up to 11m vehicles as the carmaker prepares its response to the emissions scandal that has rocked the automotive industry. Matthias Müller, the new chief executive of VW, told a meeting of the company's top 1,000 managers that a comprehensive plan has been drawn up to ensure vehicles fitted with a defeat device meet emissions standards. - Guardian Central London Property Investment Paying 15% Per Annum Limited availability, serious investors only click here   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 advertise@advfn.com     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

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Tuesday, 29 September 2015 10:04:36 Monitor Quote Charts News CFD's Spreadbetting Free BB   Tesco, Sainsbury's & Morrisons: Are UK grocers set for imminent growth? Download this report in which we look at the sector and its prospects for the rest of 2015.  Which of the big four will adapt quickest to this 'new normal'? Which has the fewest skeletons in the closet? Which is ripe for acquisition? 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 amid China concerns UK stocks fell for a second day on Tuesday amid concerns about China and low commodity prices. A report on Monday showing an 8.8% fall in Chinese industrial profits, added to woes about the nation's slowdown. The market is now awaiting the release of manufacturing and services data on Wednesday. "It still remains far from clear how weak or otherwise economic conditions in China are, but the weakness of the manufacturing sector remains a real concern," said Michael Hewson, chief market analyst at CMC Markets. Glencore's debt fears also dragged on stocks early in the week after Investec highlighted there was little equity value for shareholders and that commodity prices are in trouble. "None of the major mining companies could avoid the chaos of the panic selling, and it will be a long time before confidence is restored," said IG market analyst David Madden. However, stocks in the company rebounded on Tuesday along with other miners. Turning to Tuesday's agenda, a report on UK mortgage approvals is due at 0930 BST. German inflation is due at 1300 BST with analysts expecting a 0.1% rise in September compared to a year ago, slowing from the previous month's 0.2% growth. The European Central Bank has said it would consider extending its quantitative easing programme if inflation fails to move back towards its target of just under 2%. The US consumer confidence index at 1500 BST is forecast to reveal a fall to 96 in September from 101.5 in August, amid concerns about the potential impact the slowdown in China's economy will have on the US. In company news, Wolseley was the top faller after reporting a drop in pre-tax profits by £168m to £508m reflecting impairment and exceptional items of £242m and increased finance charges of £48m. Wizz Air gained after saying it was on target to deliver full-year operating and net profit margins ahead of the same period last year. Spread Bet And Earn An Apple Watch With Spreadex Market Movers techMARK 2,979.50 -0.88% FTSE 100 5,919.71 -0.66% FTSE 250 16,488.62 -0.76% FTSE 100 - Risers Glencore (GLEN) 73.11p +6.54% Antofagasta (ANTO) 485.40p +0.91% Royal Dutch Shell 'B' (RDSB) 1,526.50p +0.79% Royal Dutch Shell 'A' (RDSA) 1,518.50p +0.66% Tesco (TSCO) 167.20p +0.60% Rio Tinto (RIO) 2,122.50p +0.54% Anglo American (AAL) 555.50p +0.51% GKN (GKN) 258.10p +0.47% SSE (SSE) 1,443.00p +0.42% Centrica (CNA) 221.10p +0.41% FTSE 100 - Fallers Wolseley (WOS) 3,754.00p -10.17% Shire Plc (SHP) 4,420.00p -3.39% CRH (CRH) 1,719.00p -2.27% Hikma Pharmaceuticals (HIK) 2,378.00p -2.10% RSA Insurance Group (RSA) 391.60p -1.90% Persimmon (PSN) 2,069.00p -1.90% ARM Holdings (ARM) 923.00p -1.81% Taylor Wimpey (TW.) 199.90p -1.77% TUI AG Reg Shs (DI) (TUI) 1,184.00p -1.74% Imperial Tobacco Group (IMT) 3,383.00p -1.66% FTSE 250 - Risers Weir Group (WEIR) 1,142.00p +2.51% Pennon Group (PNN) 765.50p +2.41% Mitie Group (MTO) 294.20p +2.37% Tullow Oil (TLW) 159.60p +1.27% Serco Group (SRP) 99.10p +0.92% Tate & Lyle (TATE) 586.50p +0.86% Grafton Group Units (GFTU) 663.50p +0.76% Vectura Group (VEC) 177.80p +0.57% JD Sports Fashion (JD.) 947.00p +0.42% John Laing Group (JLG) 190.70p +0.37% FTSE 250 - Fallers Kaz Minerals (KAZ) 69.80p -6.62% Worldwide Healthcare Trust (WWH) 1,591.00p -6.41% Allied Minds (ALM) 315.00p -5.72% Just Retirement Group (JRG) 156.50p -3.63% Premier Oil (PMO) 61.30p -2.85% Sophos Group (SOPH) 233.40p -2.75% Computacenter (CCC) 738.00p -2.64% Zoopla Property Group (WI) (ZPLA) 207.30p -2.63% Scottish Inv Trust (SCIN) 558.00p -2.62% AO World (AO.) 157.70p -2.53% FTSE TechMARK - Risers RM (RM.) 169.00p +4.32% E2V Technologies (E2V) 229.75p +0.99% SDL (SDL) 331.00p +0.61% KCOM Group (KCOM) 90.00p +0.28% FTSE TechMARK - Fallers Oxford Biomedica (OXB) 8.00p -4.19% Dialight (DIA) 612.50p -2.78% Skyepharma (SKP) 351.00p -2.43% Consort Medical (CSRT) 924.00p -1.12% Ricardo (RCDO) 890.00p -1.11% Innovation Group (TIG) 38.75p -0.64% Sepura (SEPU) 172.00p -0.29% When Can You Retire? If you have £250,000, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can user right now. Don't miss it! UK Event Calendar Tuesday 29 September INTERIMS Boohoo.com, Crawshaw Group, e-Therapeutics, Ergomed , GLOBO, Instem, Learning Technologies Group , Outsourcery, People's Operator (The) , Personal Group Holdings, Premier Technical Services Group , Silence Therapeutics, Toumaz Limited, Venture Life Group, Vernalis INTERIM DIVIDEND PAYMENT DATE Croda International, Glencore , Puma High Income VCT INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (GER) (07:00) Business Climate Indicator (EU) (10:00) Consumer Confidence (US) (15:00) Economic Sentiment Indicator (EU) (10:00) FINALS Earthport, James Halstead, Mysale Group, Netcall, Revolution Bars Group, SCS Group , Wolseley ANNUAL REPORT Haynes Publishing Group, Ibex Global Solutions AGMS Arcontech Group, Downing Four VCT DSO, Downing Four VCT DSO 'A' Shs, Downing Four VCT DSO 'B' Shs, Jubilant Energy, Kodal Minerals , Meikles Ltd., Mwana Africa, United Carpets Group, Wizz Air Holdings UK ECONOMIC ANNOUNCEMENTS CBI Distributive Trades Surveys (11:00) Consumer Credit (09:30) M4 Money Supply (09:30) M4 Sterling Lending (09:30) Mortgage Approvals (09:30) FINAL DIVIDEND PAYMENT DATE Avarae Global Coins, BHP Billiton, Solid State Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks fall following weak sessions in the US and Asia, but resources rebound European stocks fell in early trade, taking their cue from downbeat US and Asian sessions, although basic resources rebounded following heavy losses in the previous session. "Investors hoping for some respite this morning got a rude awakening as the rout continues," said Mike McCudden, head of derivatives at Interactive Investor. "However, in early trade we are witnessing a bounce in the commodity stocks which have inflicted most of the damage in recent sessions and savvy investors are on the hunt for some bargains." At 0845 BST, the benchmark Stoxx Europe 600 index was down 0.8%, Germany's DAX was off 0.5% and France's CAC 40 was 0.8% weaker. Commodity trader Glencore rallied following a massive drop on Monday, which saw the stock fall 29% to the lowest level since its IPO in 2011, after Investec said the company's equity value is zero at current spot prices. Analysts at Citigroup and Bernstein came out in defence of the trading house on Tuesday. Citi said the market's response to concerns around balance sheet and liquidity, as seen through the sharp drop in the shares and rise in CDS spreads, is overdone. Bernstein, meanwhile, argued that there is genuine economic value to be found in both Glencore's commodity trading business and its industrial metals and mining business. Elsewhere, German car maker Volkswagen slumped as the emissions scandal continued to gain traction. The Swedish Prosecution Authority's National Anti-Corruption Unit is evaluating whether to start an investigation into the company. Plumbing and heating equipment supplier Wolseley tumbled after the company posted a drop in full-year pre-tax profit and warned of challenges in the UK market. Shares in Societe Generale slipped amid media reports suggesting it was considering closing hundreds of bank branches in France as more clients go online. Avoid NHS waiting lists with private medical insurance from AXA PPP healthcare from £1.33 a day* The NHS is under pressure to meet people's healthcare demands. ADVFN are working with AXA PPP healthcare to bring you low cost private healthcare cover. US Market Report US close: Shares end sharply lower on growth concerns; biotech sector weighs US stocks fell sharply on Monday as disappointing Chinese data reignited growth concerns and weakness in the biotechnology sector weighed on the broader market. The Dow Jones Industrial Average closed down 1.9%, the S&P 500 fell 2.6% and the Nasdaq ended 3% weaker. Chinese data disappoints Worries about a slowdown in the world's second-largest economy re-emerged after data from China's National Bureau of Statistics showed industrial profits in August dropped 8.8% year-on-year compared with a 2.9% drop in July. This was the biggest fall since records began in October 2011. PCE falls flat in August On the US economic data front, according to the Department of Commerce, personal incomes grew 0.3% month-on-month in August, while personal spending climbed 0.4% against analysts' expectations for a 0.4% and 0.3% increase, respectively. Personal consumption expenditure remained flat on a month-on-month basis, while it edged up from 1.2% to 1.3% compared with the same period in 2014. "As the deflationary pressure from the stronger dollar and lower commodity prices begins to fade next year, we expect core inflation to accelerate," said Paul Ashworth, chief US economist at Capital Economics. "The domestic economy is approaching full employment, which will put more upward pressure on both wages and prices." Elsewhere, a gauge of pending home sales declined 1.4% in August to its lowest level in five months. The index from the National Association of Realtors fell to a seasonally-adjusted 109.4 from 110.9 in July. In commodity markets, West Texas Intermediate lost 2.7% to $44.48 a barrel, and Brent fell 2.5% to $47.37 a barrel, while gold futures slid 1.2% to $1,132.00. The dollar lost 0.4% against the yen and the euro, but nudged up 0.2% against the pound. In company news, Valeant Pharmaceuticals tumbled after Democrats in the US House asked to subpoena the company for documents relating to drug price increases, as politicians look to crack down on price hikes on acquired drugs. Last week, biotechnology stocks fell sharply after Hillary Clinton targeted the sector in a tweet. Williams Cos suffered heavy losses after Energy Transfer Equity LP said it would buy the rival pipeline operator for $32.6bn. Feeeport-McMoran was also under the cosh as base metals prices declined. Oil giant Royal Dutch Shell saw its US-listed shares fall after it said it would stop exploration near Alaska. US-listed shares of car maker Volkswagen slumped after German prosecutors launched a fraud investigation into former chief executive Martin Winterkorn. Elsewhere, Novo Nordisk's US-listed shares slipped despite the Food and Drug Administration approving the Danish drug maker's long-acting Tresiba insulin product. Alcoa bucked the trend, ending firmly higher after the aluminium giant unveiled plans to split into two separate companies. Blue Chip Opportunities - Morgan Stanley issues 'full house' buy alert Morgan Stanley recently put out a 'full house' buy alert, effectively calling the bottom of 2015's late summer equity slump. The last time it issued such a bullish signal, back in 2009 following a massive financial crash, the FTSE100 promptly commenced an uptrend that's still valid today. Download your copy of this report in which we discuss reasons for the August sell-off and why you should seriously consider investing in our five September picks. Losses can exceed deposits   Newspaper Round Up Tuesday newspaper round-up: Rolls Royce, Syria, Valeant The deepening scandal at Petrobras has further increased pressure on Rolls-Royce, the pre-eminent British engineer that is a key supplier of power turbines to the Brazilian oil major. Already under investigation in Brazil over claims that it paid cash to individuals to secure contracts, it has emerged that a Brazilian congressional inquiry into Petrobras is being widened to include Rolls' relationship with the state oil and gas firms, according to reports. - The Times The US and Russia laid out starkly different views about how to end the Syrian conflict on Monday as Barack Obama and Vladimir Putin exchanged the sort of rhetorical barbs not seen at the UN since the Cold War. The two men later held a 90-minute meeting at the UN, which both sides described as "frank" and "productive" and where they agreed to try to find ways to end the conflict in Syria, but where their major differences were not resolved. - Financial Times Shares in Valeant fell as much as 19% on Monday after an influential group of Democratic policymakers called for the company to be issued with a subpoena to hand over documents relating to "massive price hikes". All 18 Democrats on the house committee on oversight and government reform sent a letter to Valeant's chairman, alleging that the pharmaceutical company was withholding documents that relate to two sharp price rises it implemented earlier this year. - Financial Times The Serious Fraud Office's investigation into the Bank of England's money-market auctions is focusing on whether officials told lenders to make similar bids for central bank funding, according to reports. Banks were allegedly advised to offer the same amount of collateral during the auctions - which were held during the financial crisis when money markets froze - so no single financial institution would stand out as being at risk and needing more emergency cash. - The Daily Telegraph Central London Property Investment Paying 15% Per Annum Limited availability, serious investors only click here   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 advertise@advfn.com     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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Monday, 28 September 2015 18:24:32 Monitor Quote Charts News CFD's Spreadbetting Free BB   Tesco, Sainsbury's & Morrisons: Are UK grocers set for imminent growth? Download this report in which we look at the sector and its prospects for the rest of 2015.  Which of the big four will adapt quickest to this 'new normal'? Which has the fewest skeletons in the closet? Which is ripe for acquisition? 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 close: Stocks led lower by mining shares as commodity prices drag The FTSE 100 was dragged lower by a slump in mining stocks following weak Chinese data and broadly bearish sentiment in the commodities market. Glencore and Anglo American were the top fallers after Investec said the challenging environment for the sector calls into question the equity value of the mining companies. The note from the brokerage came as Glencore agreed to sell its Araguaia nickel project to Horizonte Minerals for a discount price of $8m. Other miners, including BHP Billiton and Rio Tinto, also declined as commodity prices dropped and a report showed an 8.8% decrease in Chinese industrial profits in August, adding to concerns about the nation's slowdown. "None of the major mining companies could avoid the chaos of the panic selling, and it will be a long time before confidence is restored," said IG's market analyst David Madden. Elsewhere in Asia, Bank of Japan governor Haruhiko Kuroda said inflation would not reach 2% without further improvement in wages, employment and prices. In European news, pro-independence parties in Spain's Catalonia region won an absolute majority in regional elections but they fell just short of getting 50% of the vote, winning 1.9m out of 4m ballots cast. Spain's central government in Madrid said it would challenge the move towards independence but the pro-independence parties are expected to form a coalition. US data, interest rates Personal spending in the US rose 0.4% in August from a month earlier, the Commerce Department revealed, beating forecast of 0.3% growth. Personal incomes climbed 0.3% in August, worse than the 0.4% rise expected. "Admittedly, the more modest 0.3% month-on-month increase in personal income last month is a little discouraging at first glance," said Paul Ashworth, chief US economist at Capital Economics. "But there are few signs of weakness linked to the labour market. Wages and salaries increased by a strong 0.5% month-on-month in August, following an even bigger 0.6% month-on-month rise in July." Another report showed US pending home sales fell unexpectedly last month to reach their lowest-level in five months. The index from the National Association of Realtors decreased 1.4% month-on-month in August to 109.4 compared with analysts' expectations for a 0.4% gain and with a 0.5% increase in the previous month. Meanwhile, Federal Reserve official William Dudley said the central bank will "probably" raise interest rates later this year. Speaking at an event in New York hosted by The Wall Street Journal the president of the New York Fed said, "I think that the economy is doing pretty well", although his expectation was for growth in the second half to be "a little bit weaker" than the first half. His remarks mirrored that of Fed Chair Janet Yellen's last week when she said a rate hike was expected this year unless the global economic outlook worsened. Companies SABMiller jumped following a Sunday Times report that Anheuser-Busch InBev SA could bid about $106m for the company much sooner than originally anticipated. Talks between the two brewing giants are said to have been warming up and carried on over the weekend. Vodafone dropped after ending talks with Liberty Global about a merger of the European businesses. BAE Systems gained after Bernstein upgraded the stock 'outperform' from 'market perform', with an unchanged price target of 545p. Ultra Electronics rallied after JP Morgan Cazenove upgraded the stock to 'overweight' from 'neutral'. Home Retail Group advanced after Cantor Fitzgerald upgraded the company to 'buy' from 'hold'.   Spread Bet And Earn An Apple Watch With Spreadex Market Movers techMARK 3,006.07 -1.78% FTSE 100 5,958.86 -2.46% FTSE 250 16,614.16 -1.11% FTSE 100 - Risers SABMiller (SAB) 3,634.50p +1.30% BAE Systems (BA.) 444.50p +1.02% ITV (ITV) 250.50p +0.93% National Grid (NG.) 898.00p +0.80% Morrison (Wm) Supermarkets (MRW) 155.50p +0.78% Sky (SKY) 1,041.00p +0.68% Associated British Foods (ABF) 3,251.00p +0.31% FTSE 100 - Fallers Glencore (GLEN) 68.62p -29.42% Anglo American (AAL) 552.70p -10.09% BHP Billiton (BLT) 964.10p -6.03% Antofagasta (ANTO) 481.00p -4.94% Standard Chartered (STAN) 627.80p -4.91% Vodafone Group (VOD) 207.20p -4.80% Rio Tinto (RIO) 2,111.00p -4.78% ARM Holdings (ARM) 940.00p -4.28% Johnson Matthey (JMAT) 2,415.00p -3.94% Barclays (BARC) 245.20p -3.82% FTSE 250 - Risers Home Retail Group (HOME) 136.30p +2.10% Renishaw (RSW) 2,011.00p +1.98% Ultra Electronics Holdings (ULE) 1,684.00p +1.51% Poundland Group (PLND) 279.20p +1.42% Saga (SAGA) 204.00p +1.34% Ophir Energy (OPHR) 82.30p +1.29% Mitie Group (MTO) 287.40p +1.23% AO World (AO.) 161.80p +1.12% Big Yellow Group (BYG) 719.00p +0.98% Ted Baker (TED) 3,195.00p +0.95% FTSE 250 - Fallers Kaz Minerals (KAZ) 74.75p -26.35% Allied Minds (ALM) 334.10p -12.08% Tullow Oil (TLW) 157.60p -7.02% Worldwide Healthcare Trust (WWH) 1,700.00p -6.90% Just Retirement Group (JRG) 162.40p -6.67% Premier Oil (PMO) 63.10p -6.03% Vedanta Resources (VED) 429.10p -5.78% John Laing Group (JLG) 190.00p -4.95% Weir Group (WEIR) 1,114.00p -4.46% CLS Holdings (CLI) 1,795.00p -4.22% FTSE TechMARK - Risers BATM Advanced Communications Ltd. (BVC) 20.75p +2.47% Filtronic (FTC) 6.62p +1.92% Torotrak (TRK) 6.85p +1.86% SDL (SDL) 329.00p +1.86% Consort Medical (CSRT) 934.50p +1.03% NCC Group (NCC) 270.25p +0.84% Ricardo (RCDO) 900.00p +0.61% IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 202.30 +0.37% Dialight (DIA) 630.00p +0.32% FTSE TechMARK - Fallers Oxford Biomedica (OXB) 8.35p -2.34% RM (RM.) 162.00p -1.82% Oxford Instruments (OXIG) 566.50p -1.56% XP Power Ltd. (DI) (XPP) 1,575.00p -1.44% Skyepharma (SKP) 359.75p -0.90% Sepura (SEPU) 172.50p -0.72% E2V Technologies (E2V) 227.50p -0.66% Innovation Group (TIG) 39.00p -0.64% Spirent Communications (SPT) 74.25p -0.34% KCOM Group (KCOM) 89.75p -0.28% When Can You Retire? If you have £250,000, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can user right now. Don't miss it! Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks tumble as disappointing Chinese data fuels fear of slowdown European equity markets began the week on a downbeat note, extending early falls as growth concerns resurfaced following disappointing Chinese data as auto stocks continued to slide. The benchmark Stoxx Europe 600 index closed down 2.13%, while France's CAC 40 fell 2.76% and Germany's DAX lost 2.12%. In the UK, a dismal performance by mining stocks led the FTSE down, as Glencore flirted with an all-time low throughout the session, closing 16.25% in the red. "The DAX and huge losses go hand in hand at the moment," said Spreadex's financial analyst Connor Campbell. "Akin to the FTSE's commodity stocks, the European auto sector has been the biggest weight for the region's indices, with a near 9% plunge by Volkswagen leading the downward charge." Elsewhere, the euro was broadly flat against the dollar but fell 0.38% against the yen and gained 0.19% against the pound, while Brent crude fell 2.27% to $47.52 a barrel. Chinese data disappoints Data released by the National Statistics Bureau showed Chinese industrial profits fell 8.8% on the year in August compared with a 2.9% drop in July and marking the biggest drop since records began in 2011. On a quiet day data-wise in the Eurozone, investors across the Atlantic had plenty to analyse. According to the Department of Commerce, US personal incomes grew 0.3% month-on-month in August, while personal spending climbed 0.4% against analysts' expectations for a 0.4% and 0.3% increase, respectively. Personal consumption expenditure remained flat on a month-on-month basis, while it edged up from 1.2% to 1.3% compared with the same period in 2014. "As the deflationary pressure from the stronger dollar and lower commodity prices begins to fade next year, we expect core inflation to accelerate," said Paul Ashworth, chief US economist at Capital Economics. "The domestic economy is approaching full employment, which will put more upward pressure on both wages and prices." A report hinting the International Monetary Fund is likely to downgrade its global economic growth estimates due to slower expansion in emerging economies also weighed on sentiment. "A forecast of 3.3% growth this year is no longer realistic," said IMF head Christine Lagarde. "A forecast of 3.8% for next year neither. We will however remain above the 3% threshold." In company news, Royal Dutch Shell dropped 2.60% after the company said it was stopping its offshore explorations in Alaska. Banks were in focus after Swiss competition commission said it was probing UBS, HSBC, Deutsche Bank, Julius Baer, Barclays, Morgan Stanley and Mitsui over possible price fixing in the precious metals market. Avoid NHS waiting lists with private medical insurance from AXA PPP healthcare from £1.33 a day* The NHS is under pressure to meet people's healthcare demands. ADVFN are working with AXA PPP healthcare to bring you low cost private healthcare cover. US Market Report US open: Dow slides 120 points as Chinese data disappoints yet again US equity markets fell early on Monday, as Wall Street remained wary of the slowdown in the Chinese economy. Shortly before 1500 BST, the Dow Jones Industrial Average was down 119 points to 16,195.95, while the S&P 500 and the Nasdaq were respectively 14 and 24 points lower. Chinese data disappoints Asian markets began the week on a mixed note, as sluggish data from China tempered sentiment in the region. According to the country's National Bureau of Statistics, industrial profits in August declined 8.8% year-on-year compared with a 2.9% drop in the previous month, registering their biggest drop since records began in October 2011. Elsewhere, European markets were in the red, while oil prices fell, with West Texas Intermediate losing 2.37% to $44.64 a barrel, and Brent down 2.23% to $47.54 a barrel. The dollar lost 0.20% against the yen but gained 0.30% and 0.15% against the euro and the pound respectively, while gold futures tumbled 1.28% to $1,130.90. PCE falls flat in August On the economic data front, according to the Department of Commerce, US personal incomes grew 0.3% month-on-month in August, while personal spending climbed 0.4% against analysts' expectations for a 0.4% and 0.3% increase, respectively. Personal consumption expenditure remained flat on a month-on-month basis, while it edged up from 1.2% to 1.3% compared with the same period in 2014. "As the deflationary pressure from the stronger dollar and lower commodity prices begins to fade next year, we expect core inflation to accelerate," said Paul Ashworth, chief US economist at Capital Economics. "The domestic economy is approaching full employment, which will put more upward pressure on both wages and prices." Chicago Fed president Charles Evans, a voting member of the FOMC, will give a speech on monetary policy in Milwaukee at 1800 BST, while San Francisco Fed president John Williams, also a voting FOMC member, will speak in Los Angeles at 2200 BST. In company news, oil giant Royal Dutch Shell saw its US-listed shares fall 1.99% after it said it would stop exploration near Alaska. Danish drug-maker Novo Nordisk gained 3.08% after the Food and Drug Administration approved the company's Tresiba insulin product. Blue Chip Opportunities - Morgan Stanley issues 'full house' buy alert Morgan Stanley recently put out a 'full house' buy alert, effectively calling the bottom of 2015's late summer equity slump. The last time it issued such a bullish signal, back in 2009 following a massive financial crash, the FTSE100 promptly commenced an uptrend that's still valid today. Download your copy of this report in which we discuss reasons for the August sell-off and why you should seriously consider investing in our five September picks. Losses can exceed deposits   Broker Tips Broker tips: Glencore, BAE Systems, Speedy Hire Glencore shares tumbled on Monday on the back of a fairly downbeat assessment from Investec, which warned the stock holds little value for shareholders. "The challenging environment for mining companies leads us to the question of how much value will be left for equity holders if commodity prices do not improve," the brokerage said. "Despite the drastic action that management has announced recently (even assuming all of the measures are successfully implemented), a spot price scenario results in an almost complete collapse in forward earnings such that no meaningful estimate of shareholder value can be derived under our price-to-earnings methodology." It also said that Anglo American was also in a weaker position than rivals BHP Billiton and Rio Tinto if commodity prices remain depressed. "While it offers upside potential for equity holders on our base case assumptions, applying spot pricing suggests a meaningfully negative impact on equity value." Bernstein upgraded BAE Systems to 'outperform' from 'market perform', with an unchanged price target of 545p. It said the recent pullback in BAE's share price has widened the valuation gap compared to US peers considerably, without any corresponding deterioration of fundamentals. The broker added that it had an incrementally more positive view towards BAE's outlook for growth in international markets, buoyed by recent news of Typhoon sales to Kuwait, and the potential for further orders to come from Saudi Arabia and Oman. The analysts also said there was upside potential for contract wins for aircraft and ground combat vehicles, though timing the timing was difficult to estimate. Investec downgraded Speedy Hire to 'hold' from 'buy' and put its 100p price target under review until it gets more clarity on a turnaround after the company issued its second profit warning in three months. "This is another disappointing update and underlines the scale of the task faced by the new management. Given the scale of the downgrades and level of uncertainty, it is difficult to ascribe a target at present," it said. The brokerage cut its full-year 2016 earnings per share estimate by 58% to 1p and its full-year 2017 forecast by 55% to 1.5p. Central London Property Investment Paying 15% Per Annum Limited availability, serious investors only click here   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 advertise@advfn.com     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