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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: Stocks decline as Osborne unveils UK-China stocks link plan London stocks declined as Chancellor George Osborne said the UK and China are looking into ways of linking their stock markets.
The proposal is for Chinese and British shares to be traded in both countries. A "landmark feasibility study" will be conducted on the suggestion, Osborne announced in a speech at the Shanghai Stock Exchange.
Osborne said the nations would work together despite a slowdown in China's economy. The Shanghai index has fallen almost 40% since June.
Turning to Tuesday's news, investors await the release of data on UK public finances and a speech from US Federal Reserve official Dennis Lockhart.
Traders will be looking for further comments on interest rates from Lockhart when he speaks at 2230 BST on the economy in Alabama.
On Monday, the policymaker said the risks of the Fed waiting to raise interest rates were not significant. He believed the central bank should delay a hike until it was clear that global economic uncertainty would not hurt the US economy.
"I don't think those risks are significant," Lockhart said.
In company news, Antofagasta slumped after Credit Suisse downgraded the stock to 'underperform'. Other miners were also in the red, with Glencore at the top of the leader board, as copper prices fell.
Royal Bank of Scotland dropped on news the lender and General Electric are in talks to sell $4.5 billion of Italian non-performing loans.
Tesco edged lower as Sky News reported that the supermarket's CEO is to hold talks with advisers this week about abandoning the sale of the Dunnhumby business. |
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| | Market Movers
techMARK 3,023.04 -1.19%
FTSE 100 6,049.29 -0.97%
FTSE 250 16,761.81 -0.78%
FTSE 100 - Risers
RSA Insurance Group (RSA) 409.70p +1.59%
HSBC Holdings (HSBA) 500.70p +1.13%
Babcock International Group (BAB) 915.00p +0.77%
Centrica (CNA) 227.20p +0.44%
Bunzl (BNZL) 1,753.00p +0.40%
Standard Chartered (STAN) 694.70p +0.38%
Inmarsat (ISAT) 1,002.00p +0.25%
Intu Properties (INTU) 317.20p +0.22%
Wolseley (WOS) 4,231.00p +0.19%
Smith & Nephew (SN.) 1,167.00p +0.17%
FTSE 100 - Fallers
Glencore (GLEN) 109.80p -7.73%
Antofagasta (ANTO) 531.50p -6.01%
Anglo American (AAL) 662.00p -4.73%
BHP Billiton (BLT) 1,039.50p -3.39%
Rio Tinto (RIO) 2,201.00p -3.23%
Shire Plc (SHP) 4,642.00p -3.19%
AstraZeneca (AZN) 4,265.00p -2.60%
GKN (GKN) 265.40p -2.53%
GlaxoSmithKline (GSK) 1,257.50p -2.48%
Mondi (MNDI) 1,360.00p -1.95%
FTSE 250 - Risers
IG Group Holdings (IGG) 765.50p +4.22%
Petra Diamonds Ltd.(DI) (PDL) 104.00p +2.87%
Indivior (INDV) 224.70p +2.42%
John Laing Group (JLG) 208.00p +1.71%
Countrywide (CWD) 500.50p +1.32%
UDG Healthcare Public Limited Company (UDG) 539.50p +1.31%
Crest Nicholson Holdings (CRST) 578.00p +1.05%
CLS Holdings (CLI) 1,841.00p +0.88%
PayPoint (PAY) 1,054.00p +0.67%
Close Brothers Group (CBG) 1,492.00p +0.67%
FTSE 250 - Fallers
Kaz Minerals (KAZ) 118.50p -15.18%
AA (AA.) 306.30p -8.10%
Senior (SNR) 249.60p -5.42%
Barr (A.G.) (BAG) 535.00p -4.80%
Mitchells & Butlers (MAB) 337.80p -3.87%
Evraz (EVR) 63.05p -3.37%
Bodycote (BOY) 564.00p -3.26%
IMI (IMI) 984.00p -3.24%
Weir Group (WEIR) 1,200.00p -2.83%
Hunting (HTG) 416.20p -2.64%
FTSE TechMARK - Risers
NCC Group (NCC) 268.00p +1.32%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 201.75 +0.19%
FTSE TechMARK - Fallers
Oxford Instruments (OXIG) 572.50p -1.63%
Consort Medical (CSRT) 922.68p -1.42%
Spirent Communications (SPT) 74.75p -0.99%
SDL (SDL) 353.00p -0.56%
E2V Technologies (E2V) 238.00p -0.31% |
| | UK Event Calendar | | Tuesday 22 September
INTERIMS
AA , Augean, Barr (A.G.), Card Factory, Charlemagne Capital Ltd., ClearStar Inc. (DI / REG S), Etalon Group Ltd GDR (Reg S), Horizon Discovery Group, KBC Advanced Technologies, Keywords Studios, Minds + Machines Group Limited (DI), Nature Group, Oxford Pharmascience Group , Porta Communications , Sphere Medical Holding, Thalassa Holdings Ltd. (DI), Venn Life Sciences Holdings
INTERIM DIVIDEND PAYMENT DATE
London Stock Exchange Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
House Price Index (US) (15:00)
GMS
AFH Financial Group
FINALS
Clinigen Group, Close Brothers Group, Regenersis, Swallowfield
EGMS
Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Cohort, HML Holdings, Impact Holdings, SPARK Ventures, Utilico Emerging Markets Ltd (DI), Velox3
TRADING ANNOUNCEMENTS
Dairy Crest Group, IG Group Holdings
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Public Sector Finances (09:30)
FINAL DIVIDEND PAYMENT DATE
Northgate
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks fall as investors look for fresh cues; pharmas under the cosh European stocks fell in early trade following healthy gains in the previous session, led lower by pharmaceuticals, as investors looked for fresh catalysts.
At 0910 BST, the benchmark Stoxx Europe 600 index was down 1.1%, France's CAC 40 was 1.4% weaker and Germany's DAX was down 1%.
"Yesterday's gains could be summed up as drifting, no conviction and not likely to last. Until we get some clarity on the direction of China's economy and US monetary policy, expect markets to remain listless," said Jonathan Sudaria, a night dealer at London Capital Group.
On the corporate front, Volkswagen shares were under pressure again as the probe into emissions-cheating in some of its diesel vehicles spread to Asia, with South Korea now saying it will investigate three of the German car maker's diesel models. The stock tumbled over 20% on Monday after the company admitted that it had made a mistake in trying to cheat on the emissions tests.
Pharmaceutical stocks were also on the back foot, tracking losses in the US after Democratic presidential candidate Hillary Clinton said on Monday that she plans to take on "price gouging" in the industry.
The Stoxx 600 healthcare index slumped 2.5%.
The economic calendar is pretty light, but Eurozone consumer confidence is due at 1500 BST. |
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| | US Market Report | | US close: Stocks end higher but biotechs and healthcare shares cap gains US stocks ended in the black on Monday, recouping losses from the end of last week with the help of financials and Apple, although the Nasdaq underperformed its peers as biotech and healthcare shares fell.
The Dow Jones Industrial Average closed up 0.8% and the S&P 500 rose 0.5%, while the Nasdaq closed up just 0.04%.
Financials were among the standout gainers, having fallen sharply last week following the Federal Reserve's decision to stand pat on rates and dovish statement.
On the downside, however, biotech and healthcare stocks fell after US Democratic presidential candidate Hillary Clinton said she would announce a plan to stop "price gouging" for specialty drugs.
Meanwhile, investors also digested comments from Atlanta Fed president Dennis Lockhart, who spoke in Atlanta.
Lockhart, a voting member of the FOMC, said he was confident there would be a rate hike this year.
Over the weekend, St Louis Fed president James Bullard revealed he was in favour of hiking interest rates as he believed the economy had shown sufficient signs of recovery to justify the move.
Meanwhile, John Williams, the president of the San Francisco Fed said it would be an "appropriate step" for the US central bank to hike rates before the end of the year.
Monday data
Data showed existing home sales declined 4.8% month-on-month to a seasonally-adjusted annual rate of 5.31m, compared with consensus for a drop to 5.50m.
Last month's reading was revised down from 5.59m to 5.58m, which remains the highest level in eight years.
Median home prices rose 4.7% over the past 12 months to $228,700.
In company news, Apple gained after the Wall Street Journal reported that some of China's most popular names in Apple's App Store were infected with malware.
PayPal Holdings shares rallied after Stifel Nicolaus upgraded the stock to 'buy'.
Shares of Pandora Media Inc surged following a positive ruling from the Copyright Office on royalty rates.
On the downside, Mallinckrodt Pharmaceuticals slid on news that ANI Pharmaceuticals has bought two drugs from Merck that could potentially compete with its leading product.
The dollar was broadly flat against the pound, 0.8% firmer against the euro, and 0.3% higher against the yen, while gold futures slid 0.4% to $1,133.00.
Oil prices staged a solid rebound, with West Texas Intermediate gaining 3.9% to $46.43 a barrel, while Brent rose 2.9% to $48.84 a barrel. |
| | 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: RBS, FCA, British Gas UK Financial Investments, the body charged with managing the state's holdings in RBS and Lloyds Banking Group, has been ordered by the Treasury select committee to explain why the government needed to commission a separate report into the sale from Rothschild, despite having an in-house advisory team. - The Times
Bankers, lawyers and regulators have been hired to join the City watchdog's enforcement panel, the influential body that oversees the punishments handed out to wrongdoers. Two members of the Regulatory Decisions Committee are retiring, but six will join the panel at the Financial Conduct Authority (FCA), bolstering the increasingly busy enforcement unit. Five of those members are also joining the Payments Systems Regulator's (PSR) enforcement panel. - The Daily Telegraph
A software company that has accused British Gas of stealing its smart metering technology is mounting an £80m legal challenge against the energy supplier for lost earnings. The lawsuit, which alleges that British Gas violated patent laws by illegally installing metering software in nearly two million British homes without a commercial licence, is scheduled to begin at the High Court next year. - The Times
Up to 400 jobs are at risk at JCB, after a 70% slump in demand for its diggers and other machinery in Russia was echoed across the world. The business, which has 11 sites across the UK, with the majority in Staffordshire, revealed that all regions had suddenly taken a turn for the worse. As well as the loss of demand in Russia, the firm said it has seen a 36% drop in orders from Brazil and 47% from China, as well as a 26% fall in demand from France.- The Daily Telegraph
The most senior voice of British business has blasted the government's performance on the "green economy". Cridland will tell a major business conference on climate change on Tuesday: "Today's investors are more uncertain about the UK's low-carbon future. From the roll-back of renewables to the mixed messages on energy efficiency, these changes [by the government since coming to power] send a worrying signal about the UK as a place for low-carbon investment." - The Guardian |
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