| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks climb ahead of UK jobs data London stocks climbed on Wednesday before the release of the UK labour market report and the Bank of England's testimony before the Treasury Select Committee. The UK jobs report at 0930 BST is expected to show the employment change for the three months to July grew by 18,000 jobs, following a 63,000 drop in the previous quarter.
Average weekly earnings are forecast to rise 2.5% during the period compared to a previous 2.4% growth. The unemployment rate is projected to hold at 5.6% for the quarter. Jobless claims may have fallen 5,000 in August after a 4,900 decline a month earlier, analysts estimate.
The Bank of England is taking into account the health of the labour market in determining the timing of an interest rate hike. Figures on Tuesday revealing a drop in UK inflation to 0% in August from the previous month's 0.1%, backed the central bank's decision to stall on any change to policy last Thursday. Ian McCafferty was the only policymaker to vote in favour of an interest rate hike.
Lloyds Bank's analysts said firming in wage growth unpins the Monetary Policy Committee's expectations of a gradual pick-up in inflation despite the slump in oil prices. "Some of the more hawkish members prefer to focus on underlying costs and as such additional members could join McCafferty as of the November Report in shifting the balance towards a tightening of policy," they said.
BoE governor Mark Carney will be speaking at the Treasury Select Committee hearing at 1415 BST on the August Inflation Report. The testimony may provide more clues on the BoE's plans for interest rates. McCafferty and fellow MPC member Martin Weale, who argued that an interest rate hike needs to come "relatively soon", will also speak.
US inflation
US inflation figures at 1330 BST are forecast to reveal 0.2% growth in August compared to a year ago, unchanged from the previous month's gain. Core inflation, excluding food and energy prices, are anticipated to increase 0.1% in August, unchanged from the previous month.
The Federal Reserve, which is targeting 2% inflation, is monitoring CPI closely ahead of its decision on whether to raise interest rates on Thursday. The market is already divided on estimates for a rate increase, amid the recent volatility in global stocks, and an easing in CPI will likely see forecasts leaning towards no change in the Fed's policy.
The Fed kicks off its two-day policy meeting on Wednesday before announcing its decision the next day. "Markets are currently pricing in only a 25% chance of a rate hike at this stage but they have been wrong when it comes to the Fed on many occasions in the past, so I expect some of this caution that we're seeing in the markets to persist," said Craig Erlam, senior market analyst at Oanda.
Retailer JD Sports jumped after saying half-year sales had increased 10% with pre-tax profits almost doubling to £44.7m as the UK economy strengthened.
Glencore dropped as it raised 1.6bn by placing new shares with institutions and senior management at a small discount in order to pay off some of its debts.
Serco Group climbed as it agreed the sale of its offshore private sector Business Process Outsourcing operations to private equity funds managed by Blackstone for around £250m.
Galliford Try declined despite reporting a 20% rise in full-year profits and a 31% increase in revenue.
SABMiller rallied on revived rumours that the beer company could be taken over by rival Anheuser-Busch InBev NV, the maker of Budweiser. |
| | Are You Confused About Your Pension? | | If you have a £250,000 portfolio, 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 use right now. Don't miss it! |
| | Market Movers
techMARK 3,080.14 +0.27%
FTSE 100 6,172.52 +0.57%
FTSE 250 17,057.67 +0.56%
FTSE 100 - Risers
Burberry Group (BRBY) 1,444.00p +2.78%
SABMiller (SAB) 3,090.00p +2.50%
Aberdeen Asset Management (ADN) 327.00p +2.09%
TUI AG Reg Shs (DI) (TUI) 1,226.00p +2.08%
Reckitt Benckiser Group (RB.) 5,805.00p +2.04%
Hargreaves Lansdown (HL.) 1,210.00p +1.85%
Standard Chartered (STAN) 734.40p +1.84%
Carnival (CCL) 3,467.00p +1.52%
Glencore (GLEN) 130.00p +1.52%
BT Group (BT.A) 427.55p +1.42%
FTSE 100 - Fallers
Mondi (MNDI) 1,438.00p -2.71%
Rio Tinto (RIO) 2,350.50p -1.59%
BHP Billiton (BLT) 1,068.00p -1.52%
Inmarsat (ISAT) 1,010.00p -1.08%
Rolls-Royce Holdings (RR.) 716.50p -0.90%
Fresnillo (FRES) 583.00p -0.85%
Antofagasta (ANTO) 601.50p -0.66%
BAE Systems (BA.) 450.50p -0.64%
Anglo American (AAL) 732.30p -0.39%
Aviva (AV.) 472.80p -0.32%
FTSE 250 - Risers
Entertainment One Limited (ETO) 284.90p +5.87%
UBM (UBM) 507.50p +4.49%
Premier Oil (PMO) 83.45p +2.96%
Fidelity China Special Situations (FCSS) 118.90p +2.94%
Vesuvius (VSVS) 400.00p +2.56%
JD Sports Fashion (JD.) 912.00p +2.07%
FirstGroup (FGP) 103.80p +2.06%
Smith (DS) (SMDS) 406.40p +1.91%
CLS Holdings (CLI) 1,817.00p +1.85%
Henderson Group (HGG) 272.20p +1.83%
FTSE 250 - Fallers
Galliford Try (GFRD) 1,753.00p -2.67%
Card Factory (CARD) 360.80p -2.17%
Vectura Group (VEC) 173.30p -1.37%
Acacia Mining (ACA) 241.50p -1.23%
Centamin (DI) (CEY) 58.90p -0.76%
Auto Trader Group (AUTO) 326.70p -0.70%
Fisher (James) & Sons (FSJ) 1,055.00p -0.57%
Indivior (INDV) 217.00p -0.50%
Hunting (HTG) 436.00p -0.48%
Computacenter (CCC) 767.50p -0.45%
FTSE TechMARK - Risers
SDL (SDL) 365.75p +1.95%
Oxford Biomedica (OXB) 8.65p +1.76%
Dialight (DIA) 645.50p +1.10%
Oxford Instruments (OXIG) 551.50p +0.91%
Spirent Communications (SPT) 76.25p +0.33%
FTSE TechMARK - Fallers
Sepura (SEPU) 174.00p -1.69%
Consort Medical (CSRT) 940.50p -1.05%
Innovation Group (TIG) 39.75p -0.62%
NCC Group (NCC) 257.50p -0.19%
XP Power Ltd. (DI) (XPP) 1,585.00p -0.16% |
| | UK Event Calendar | | Wednesday 16 September
INTERIMS
Anpario, Cello Group, Deltex Medical Group, Epwin Group, JD Sports Fashion, M. P. Evans Group, Mi-Pay Group, Quixant, Real Estate Investors, SafeCharge International Group Limited (DI), Smart Metering Systems, Synairgen, Vislink
INTERIM DIVIDEND PAYMENT DATE
Hiscox Limited (DI), Rentokil Initial
QUARTERLY PAYMENT DATE
Utilico Investments Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (EU) (10:00)
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
Harmonised Index of Consumer Prices (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
GMS
Hotel Corporation (The)
FINALS
Avanti Communications Group, Eagle Eye Solutions Group, Galliford Try
AGMS
Entertainment One Limited, Gail (India) Ltd GDR (Reg S), Games Workshop Group, Hornby, Intercede Group, ITM Power, React Group , Terra Catalyst Fund (DI), Trifast
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Unemployment Rate (09:30)
|
| | PROVEN Trading Strategy - Made 7478 pips in 2014 and 5176 by April 2015. | | Earn a tax free income trading, from just 20 minutes a day. Our simple to follow, rules based trading strategy will tell you exactly when to buy and sell with confidence.
Register for a FREE brochure and trading guide, Click Here. |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise as investors eye Fed meeting; Inditex, Richemont rally European stocks rose in early trade, taking their cue from upbeat sessions in the US and Asia, ahead of a two-day Federal Reserve policy meeting which could see the central bank lift interest rates for the first time in nearly a decade. At 0900 BST, the benchmark Stoxx Europe 600 index was up 1%, Germany's DAX was 1.2% firmer and France's CAC 40 was up 1.3%.
"With relentless debate about whether the Federal Reserve will finally start to raise rates, one might have anticipated that investor uncertainty would see equities drift lower - but markets have defied logic and are moving higher, as the most anticipated meeting of the year finally gets underway," said Rebecca O'Keeffe, head of investment at Interactive Investor.
Market participants remain split over whether the Fed will hike rates, with some believing that mixed US economic reports and recent volatility in global financial markets will prevent the bank from making a move in September.
Societe Generale said: "Economists may be evenly divided about what the Fed is going to do. But markets know what they want and largely are now convinced that the FOMC will not usher in a hike. This illustrates the difficulty for the Fed in hiking rates in a financial world that is addicted to liquidity.
"With inflation so low, it is tempting to wait and avoid the wrath of markets, and the short-term impact of financial volatility on immediate activity. But postponing a hike will only raise the long-term risks."
In corporate news, miner Glencore rallied after it launched a $2.5bn share placing as part of its strategy to cut debt.
Spanish clothing retailer Inditex, which owns Zara, also gained after posting a 26% jump in first-half net profit.
Luxury goods company Richemont surged after it said sales grew 4% in the five months to August on a constant currency basis, beating analysts' expectations.
On the macro front, Eurozone inflation figures are due at 1000 BST. In the US, the consumer price index is at 1330 BST while the NAHB housing market index is at 1500 BST. |
| | How to Retire Early: A Three Step Plan | | Dear Subscriber,
In this Free Guide we clearly explain how anyone can retire early with a simple 3 Step Plan.
How to take advantage of the Free Money Multiplier.
What is the “Golden Number” for a comfortable retirement.
The common mistakes to avoid
Even if you’re already retired, it’s worth taking a look.
This plain English guide will help you maximise your nest egg.
Download Here |
| | US Market Report | | US close: Shares end higher as interest rate decision looms US equity markets ended in the black on Tuesday as investors sifted through a raft of economic data releases ahead of the Federal Reserve meeting. The Dow Jones Industrial Average closed up 1.4%, while the S&P 500 ended 1.3% higher and the Nasdaq rose 1.2%.
The Federal Open Market Committee kicks off its two-day meeting on Wednesday and, while analysts remained divided over the outcome, it could result in the first hike in interest rates for almost a decade.
"We expect the hiking cycle to be even slower than the Fed currently anticipates, at least in its early phase -which may take several years- with subdued wage pressures," said Philip Marey, senior US strategist at Rabobank.
"In fact, the fragility of the US economic recovery may even lead to temporary reversals of rate hikes down the road as any major shock can slow down this economy to a standstill or worse."
Data points fall short of expectations
US retail sales rose less than expected, as the Federal Reserve looks for signs of economic improvement ahead of its interest rate decision this week.
The Commerce Department said sales increased 0.2% in August, falling short of analysts' expectations for a 0.3% rise and the previous month's 0.6% gain.
"The August retail sales report suggests that the bout of late-month financial turmoil, which impacted consumer confidence a little, did not have any meaningful adverse impact on consumption," said Steve Murphy, US economist at Capital Economics.
Meanwhile, US industrial production fell a seasonally-adjusted 0.4% in August from July, while capacity utilization, which measures industrial slack, slipped to 77.6% in from 78%. Economists had expected a 0.2% decline in production.
Elsewhere, business conditions in the New York region remained weak in September, the New York Federal Reserve said on Tuesday.
The Empire State manufacturing index for September rose slightly to -14.7 from -14.9 in August, which was the lowest level on record since 2009.
September's reading fell well short of the -0.15 reading analysts had expected. "Given the relatively small size of the manufacturing base in New York state, we place limited weight on this morning's release," analysts at Barclays said on Tuesday.
"We look to Thursday's release of the Philadelphia Fed manufacturing index, often a better indicator of national trends, for further indication of the state of the US manufacturing sector at the end of the third quarter."
The dollar was higher across the board, up 0.4% against the euro, 0.6% against the pound and 0.2% against the yen, while gold futures declined 0.3% to $1,104.00.
Oil prices staged a steady rebound after declining on Monday, with West Texas Intermediate gaining 1.5% to $44.65 a barrel, while Brent crude rose 0.6% to $46.63 a barrel.
In company news, snack and breakfast foods giant Kellogg reversed early losses to end up after announcing the acquisition of a 50% stake in African distribution company Multipro for $450m.
S&P 500 - Risers
Avon Products Inc. (AVP) $3.81 +8.55%
Owens-Illinois Inc. (OI) $21.43 +6.72%
Joy Global Inc. (JOY) $18.64 +5.49%
Molson Coors Brewing Co. Class B (TAP) $72.71 +5.22%
Transocean Ltd. (RIG) $15.38 +5.20%
Ensco Plc. (ESV) $16.40 +4.60%
Allegheny Technologies Inc. (ATI) $18.11 +4.08%
Ford Motor Co. (F) $14.31 +3.85%
Noble Corporation plc (NE) $12.10 +3.77%
Harman International Industries Inc. (HAR) $100.56 +3.75%
S&P 500 - Fallers
Peabody Energy Corp. (BTU) $1.50 -5.65%
Host Hotels & Resorts Inc. (HST) $17.27 -2.32%
Keurig Green Mountain Inc (GMCR) $58.13 -2.06%
Urban Outfitters Inc. (URBN) $29.69 -1.69%
Gap Inc. (GPS) $31.77 -1.27%
Macy's Inc. (M) $57.17 -1.19%
Micron Technology Inc. (MU) $16.52 -1.08%
Sysco Corp. (SYY) $39.46 -1.07%
International Paper Co. (IP) $41.10 -0.96%
Kroger Co. (KR) $37.16 -0.69%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $74.59 +2.50%
Merck & Co. Inc. (MRK) $53.56 +2.33%
Microsoft Corp. (MSFT) $43.98 +2.18%
General Electric Co. (GE) $25.30 +2.14%
Procter & Gamble Co. (PG) $69.46 +2.05%
3M Co. (MMM) $143.57 +1.96%
JP Morgan Chase & Co. (JPM) $63.59 +1.94%
Goldman Sachs Group Inc. (GS) $187.49 +1.93%
Unitedhealth Group Inc. (UNH) $120.03 +1.89%
Chevron Corp. (CVX) $77.18 +1.86%
Dow Jones I.A - Fallers
Walt Disney Co. (DIS) $103.45 -0.36%
Nasdaq 100 - Risers
Vimpelcom Ltd Ads (VIP) $4.89 +4.94%
Netflix Inc. (NFLX) $99.16 +3.63%
NetApp Inc. (NTAP) $32.19 +3.37%
TripAdvisor Inc. (TRIP) $70.06 +3.35%
Wynn Resorts Ltd. (WYNN) $70.35 +2.75%
Expedia Inc. (EXPE) $118.83 +2.66%
Priceline Group Inc (PCLN) $1,318.80 +2.48%
Avago Technologies Ltd. (AVGO) $134.38 +2.43%
Yahoo! Inc. (YHOO) $31.04 +2.37%
Microsoft Corp. (MSFT) $43.98 +2.18%
Nasdaq 100 - Fallers
Keurig Green Mountain Inc (GMCR) $58.13 -2.06%
Vodafone Group Plc ADS (VOD) $33.74 -1.60%
Micron Technology Inc. (MU) $16.52 -1.08%
Maxim Integrated Products Inc. (MXIM) $34.24 -0.32%
Staples Inc. (SPLS) $13.70 -0.22%
Illumina Inc. (ILMN) $205.71 -0.15%
Ross Stores Inc. (ROST) $49.42 -0.08%
Henry Schein Inc. (HSIC) $135.41 -0.06% |
| | 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: UK banknotes, online shopping, Facebook, diesel drought At least half of all UK banknotes in circulation are being used for purposes such as drug dealing, prostitution and dodgy business deals, or are being held abroad, according to a Bank of England report. It said that no more than half of banknotes are being used for legitimate purposes, with the rest used to fund the "shadow" economy or held overseas. - Guardian The online shopping revolution in Britain is showing signs of reaching a peak after internet sales in August grew at the slowest rate on record. Online sales increased by 5% in August compared with sales in the same month last year, the lowest increment since online sales data started being collected in 2000. - Guardian
The row over whether the Treasury interfered in sensitive forecasts by the government's top economic watchdog deepened yesterday when senior MPs demanded that private emails be made public. After revelations in The Times that officials sought to meddle with the independence of the Office for Budget Responsibility, the Treasury select committee expressed concern. - The Times
The Royal Institution of Chartered Surveyors is reviewing its approach to conflicts of interest amid concerns from MPs over the relationship between banks' restructuring divisions and professional services firms. The institution, which regulates property valuers and certain receivers, said that it was working on strengthening its guidance on how property professionals "apply ethical principles", after politicians aired allegations that distressed borrowers may have been treated unfairly as lenders repaired their balance sheets in the wake of the financial crisis. - The Times
Facebook is working on a 'dislike' button that people could use to register their disagreement, distaste or hate, in a reversal of a previous pledge to prioritise 'likes' - or positive sentiments - on the world's largest social network. Mark Zuckerberg, Facebook founder and chief executive, said in a question-and-answer session on Tuesday that it was a "special day" because after years of users lobbying for a 'thumbs down' button, to complement the current 'thumbs up' symbol, he could announce that Facebook was building it. - Financial Times
British motorists are facing a potential "diesel drought" because the country has too few refineries capable of producing the fuel, the RAC Foundation has warned. Demand for diesel fuel has grown by 76pc over the past 20 years as more consumers have shifted to the traditionally more economical option. - Telegraph
The Government has turned down a request for a £100m emergency loan from Redcar steel plant, leaving it on the brink of insolvency. Sahaviriya Steel Industries, the Thai company behind the historic works, is understood to have approached the Government for a bridging loan last week and offered to make 500 job cuts in return for immediate financial support. The desperate request came just months after SSI failed to repay a series of loans, and was forced to borrow £30m from one of its own directors. - Telegraph |
| | 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. | | |
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