| | | | | | | 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?
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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 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% |
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| | 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
|
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| | 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. |
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| | 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 |
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