| | | | | | | | Spread bet and earn the latest iPad with Spreadex
Just stake £330 in Wall St or GBP/USD markets or £660 in UK 100 or EUR/USD markets to qualify.
Alternatively, place £220 in stakes on selected sports spread betting markets. Click here to see full offer ts&cs. | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Stocks fall as mining shares, oil prices decline London stocks ended lower on Tuesday, dragged down by mining shares and drop in oil prices.
Glencore was the biggest faller on the FTSE as the troubled miner began the process of selling two of its copper mines in Australia and Chile. Fellow miners Anglo American, Antofagasta and Rio Tinto also slumped.
"The losses in the mining sector are relatively small when compared with the losses it registered recently, but dealers are looking ahead to Chinese trade balance figures due overnight, and they are not taking any chances," said IG market analyst David Madden .
"There has been a lot of chatter about a stimulus package from Beijing, but that has neither been confirmed nor denied, and traders are getting anxious."
The China Securities Journal reported that the deputy governor of the People's Bank of China said the country's stock market correction is "almost over". Speaking at an annual meeting of the International Monetary Fund and World Bank in Peru, Yi Gang said corrections in Chinese stock markets have had a limited impact on the nation's economy thanks to policy measures implemented by the PBoC.
Stateside, the bond market was closed for Columbus Day but the US equity market remained open with focus on speeches from Federal Reserve officials including Charles Evans, Dennis Lockhart and Lael Brainard.
Lockhart said there could be enough economic data to consider an interest rate hike at the 27-28 October meeting but there will be much more available in time for the December meeting.
"I think October is a live meeting, clearly there is the potential that the data coming in, in advance of the October meeting will be sufficient ... we have a lot more in December," he said following a speech to a university association in Orlando, Florida, according to Reuters.
Meanwhile, oil prices snapped an earlier rally after OPEC revealed a further rise in its production level. In a scheduled data release, OPEC noted in its monthly report that it had produced 31.57 million barrels of oil per day in September, the cartel's highest rate of production since 2012.
Brent crude fell 1.7% to $51.77 per barrel while West Texas decreased 2.2% to $48.56 per barrel. WTI was above $50 in morning trade on data showing falling US oil rig count and suggestions that major oil producers will work together to address low prices.
Among corporate stocks, Rolls-Royce fell sharply as investors got their first chance to react to a press report that European regulators are being forced to enter anti-competitive contracts to keep their 24,000 aircraft flying.
Standard Chartered was also under the cosh after Investec downgraded the stock to 'hold' from 'buy' with an unchanged target of 820p. It said the latest leg of Standard Chartered's 26% eight-session surge appears to have been driven by market enthusiasm around media reports of plans to cut about 1,000 top staff.
Going the other way, SABMiller was on the front foot as Belgium-based Anheuser-Busch InBev sweetened its proposal to £43.50 after its London-listed rival rebuffed a third approach at £42.15 last week. AB InBev said the improved proposal comprises a cash offer of £43.50 per share, with a partial share alternative available for around 41% of SABMiller shares.
Carillion jumped after expressing confidence with its full-year targets, as it said it has signed contracts, secured preferred bidder positions and been awarded frameworks worth around £1.7bn since 30 June. |
| | The Top 10 Stocks for Q4 | | Your guide to the best investments for the new quarter
Towards the end of September, we've seen markets rally as buyers return to pick up some nicely discounted shares while inflation concerns look to be pushing a US interest rate rise further into the future. Our latest Top 10 Stocks report takes a look at a fresh selection of blue chips that have the potential to offer exciting trading opportunities for the new quarter and into year-end.
Download your copy of this report and discover our top picks for the quarter.
Losses can exceed deposits |
| | Market Movers
techMARK 3,031.92 -0.65%
FTSE 100 6,362.38 -0.84%
FTSE 250 16,971.70 -0.67%
FTSE 100 - Risers
Smiths Group (SMIN) 1,052.00p +2.63%
Coca-Cola HBC AG (CDI) (CCH) 1,498.00p +1.70%
International Consolidated Airlines Group SA (CDI) (IAG) 569.50p +1.24%
Unilever (ULVR) 2,817.00p +1.11%
Associated British Foods (ABF) 3,374.00p +0.93%
Carnival (CCL) 3,333.00p +0.82%
Wolseley (WOS) 3,719.00p +0.79%
Kingfisher (KGF) 353.70p +0.77%
easyJet (EZJ) 1,708.00p +0.77%
Sage Group (SGE) 523.50p +0.67%
FTSE 100 - Fallers
Glencore (GLEN) 121.00p -6.27%
Anglo American (AAL) 689.70p -5.07%
Rolls-Royce Holdings (RR.) 724.00p -4.17%
Antofagasta (ANTO) 573.50p -3.78%
Standard Chartered (STAN) 762.50p -3.08%
Ashtead Group (AHT) 1,013.00p -3.06%
Meggitt (MGGT) 477.80p -2.98%
Rio Tinto (RIO) 2,528.00p -2.75%
Inmarsat (ISAT) 912.50p -2.67%
Johnson Matthey (JMAT) 2,589.00p -2.12%
FTSE 250 - Risers
Allied Minds (ALM) 418.70p +5.20%
Bank of Georgia Holdings (BGEO) 1,986.00p +4.75%
Carillion (CLLN) 313.60p +3.94%
Man Group (EMG) 155.00p +2.99%
Telecom Plus (TEP) 1,168.00p +2.55%
JD Sports Fashion (JD.) 959.50p +2.46%
Fidelity China Special Situations (FCSS) 129.80p +2.45%
Debenhams (DEB) 82.20p +2.43%
Centamin (DI) (CEY) 67.20p +2.13%
Moneysupermarket.com Group (MONY) 315.20p +1.87%
FTSE 250 - Fallers
Tullow Oil (TLW) 240.70p -5.87%
OneSavings Bank (OSB) 354.90p -4.85%
Rotork (ROR) 186.00p -4.02%
Electrocomponents (ECM) 207.30p -3.54%
Premier Oil (PMO) 89.20p -3.31%
Weir Group (WEIR) 1,352.00p -3.22%
Wood Group (John) (WG.) 676.00p -3.15%
CLS Holdings (CLI) 1,760.00p -3.14%
Cobham (COB) 296.80p -3.13%
AO World (AO.) 156.70p -3.09%
FTSE TechMARK - Risers
DRS Data & Research Services (DRS) 12.75p +6.25%
SDL (SDL) 400.50p +5.39%
Oxford Instruments (OXIG) 685.00p +4.02%
RM (RM.) 162.69p +1.68%
Torotrak (TRK) 6.54p +1.03%
CML Microsystems (CML) 352.50p +0.71%
KCOM Group (KCOM) 91.25p +0.55%
E2V Technologies (E2V) 238.00p +0.53%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.40 +0.25%
NCC Group (NCC) 251.00p +0.10%
FTSE TechMARK - Fallers
Sarossa (SARS) 1.82p -4.71%
Oxford Biomedica (OXB) 7.28p -2.02%
XP Power Ltd. (DI) (XPP) 1,539.00p -1.97%
Skyepharma (SKP) 336.00p -1.03%
Dialight (DIA) 664.50p -0.82%
Sepura (SEPU) 171.75p -0.72%
Spirent Communications (SPT) 76.25p -0.33%
Ricardo (RCDO) 900.50p -0.33%
Consort Medical (CSRT) 929.00p -0.27% |
| | Trade and earn the latest iPad | | Open a spread betting account with Spreadex and receive an iPad mini 4 16GB Wi-Fi when you place either: - £330 of Wall St, Daily trades
- £330 of Spot, GBP/USD trades
- £660 of UK 100, Daily trades
- £660 of Spot EUR/USD trades
Or any combination of the above (e.g. £165 of Wall St, Daily trades and £330 of UK 100, Daily trades). Trades must be placed within 28 days of opening your account. See the full terms and conditions here. Or if you prefer betting on sport you can earn an iPad mini 4 by placing sports spread bets on nominated sports markets. Trade Up.
The Spreadex Team |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks struggle for direction amid lack of data European stocks opened the week on a downbeat note, as they ended their best winning streak since July on Monday.
The benchmark Stoxx Europe 600 index closed down 0.28%, while Germany's DAX was 0.23% higher and France's CAC 40 was 0.27% weaker.
The euro was broadly flat against the dollar but fell 0.19% and 0.25% against the pound and the yen respectively, while Brent crude tumbled 2.01% to $51.61.
"Oil prices have slipped back after the gains of last weeks failed to push prices through some key technical resistance levels," said Michael Hewson, chief market analyst at CMC Markets.
"The fact that OPEC announced in its latest numbers that output climbed to a three year high in September, probably also helped."
On an extremely quiet day on the economic data front on both sides of the Atlantic, investors were already focusing on a number of economic reports that could influence worldwide equity markets I the coming days.
"Dealers are looking ahead to Chinese trade balance figures due overnight overnight, and they are not taking any chances," said IG's analyst David Madden.
"There has been a lot of chatter about a stimulus package from Beijing, but that has neither been confirmed nor denied, and traders are getting anxious.
"There hasn't been much newsflow in the markets today, and traders have developed the attitude that no news is bad news."
In company news, shares in RWE and E.ON surged 9.55% and 5.18% after Germany's economy ministry said the utility companies have enough funds to pay for the shutdown and clean-up of nuclear power plants as decommissioning moves a step closer.
Fiat Chrysler Automobiles pushed 0.86% higher after launching its initial public offering of Ferrari, in which it owns 90% of the shared issued and outstanding share capital.
Rolls-Royce Holdings and Safran SA lost 3.90% and 5.07% respectively after a report claimed European regulators have started a probe into whether airlines are being forced to enter anti-competitive service contracts |
| | Will you have enough to retire? | | 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! |
| | US Market Report | | US open: Stocks struggle for direction as investors await Fed speakers US stocks struggled for direction early on Monday, amid thin trading on Columbus Day.
Shortly before 1500 BST, the Dow Jones Industrial Average was down 3 points to 17,081.32, while the S&P 500 and the Nasdaq were up one and 11 points respectively.
US stocks looked to be buoyed by a rally in Chinese equity markets, driven by the People's Bank of China's pledge to introduce fresh stimulus measures to boost the country's economy.
Over the weekend, China's central bank announced it would expand a pilot programme aimed at increasing banks' lending abilities by allowing them to pledge a number of assets to borrow from the central bank.
Fed speakers
With no major economic reports scheduled for Monday as the US celebrates Columbus Day, investors will analyse a number of speeches from key members of the Federal Open Market Committee.
Chicago Fed President Charles Evans, who last week said he favoured a "somewhat later lift-off" will speak in Chicago at 1530 BST, with Fed governor Lael Brainard delivering a speech on policy and outlook in Washington at 2130 BST.
"US markets continue to be fascinated by the Fed's ongoing public discussion over the wisdom of rate rises, but the general opinion appears to be that 2015 is now a very slim possibility," said IG's senior market analyst Chris Beauchamp.
In company news, EMC rose 2.58%after the data-storage company agreed to be acquired by Michael Dell and partners in a cash-and-stock deal valued at $67bn
Ford Motor slid 0.40% after revealing it plans to invest $1.8bn in China over the next three years, while Eli Lilly tumbled 7.50% after the drug manufacturer reported termination of a drug trial.
The earnings season continues with Stanley Furniture and AmeriServ Financial both set to report on Monday.
Elsewhere, European stocks slid, while oil prices edged slightly lower, with West Texas Intermediate losing 0.30% and Brent crude shedding 0.23%. |
| | Get Paid For Your Trading Expertise | | Run a community of subscribers to your portfolio and monetise your knowledge.
Sign Up for your Free Account Now |
| | Broker Tips | | Broker tips: Standard Chartered, Hays, IAG Investec downgraded Standard Chartered to 'hold' from 'buy' with an unchanged target of 820p.
It said the latest leg of Standard Chartered's 26% eight-session surge appears to have been driven by market enthusiasm around media reports of plans to cut about 1,000 top staff.
"Although (if true) this may have potential to extend our own cost reduction forecasts, we caution that despite a raft of recent downgrades, consensus revenue/earnings forecasts remain far too high, in our view," said the brokerage.
Investec noted that StanChart has an investor day scheduled for early December, during which new chief executive Bill Winters plans to outline his strategic vision, and to announce the bank's capital decision.
"Sadly, we see it as both necessary and inevitable that management will signal material headcount reductions in order to rebase the group's costs for a structurally weaker revenue outlook. Before then, a Q3 IMS is due on 3 November 2015 which will, we believe, primarily expose further extreme revenue pressures; we expect revenues to decline for a fifth straight quarter in Q3 2015e."
Investec said it still regards the stock as slightly cheap but sees much clearer value elsewhere.
RBC Capital Markets upgraded Hays to 'outperform' from 'sector perform', saying the share price drop following the recruitment company's results last week was overdone despite the slower growth outlook.
"Consensus forecasts now seems to be coming back to more achievable levels and while there are market concerns, driven by an uncertain economic backdrop, the stock has been hit hard. We feel the shares are beginning to discount these uncertainties," it said.
RBC said the company's UK performance has clearly slowed of late and it expects this lower growth level to remain against tough comps in the short-term.
In addition, it said Australia remains volatile but with the mining/resources arena stabilising at the lower levels, it does appear in better shape, while Europe's momentum remains strong.
RBC cuts its target to 150p from 160p as it downgraded its forecasts for the stock following the second quarter statement.
"However, the shares have fallen back from 173p in July and are now trading at a discount to this target. With a total return of 14%, as well as the potential for returns to shareholders in 2017E as the group returns to a net cash position, we move to outperform."
International Airlines Group was set to see a marked and sustained improvement in its short and medium-term financial performance, prompting analysts at Goldman Sachs to reinstate their 'buy' recommendation on the carrier's stock.
For 2015-2018 the company would generate €1bn a year in free cash flow, up from €242m over the period 2010-2014.
Similarly, its cash return on capital invested would rise to 16.7% in 2017 from 10% in 2014, the broker predicted.
However, the stock was trading on estimated EV/EBITDAR multiple of 5.2 times, instead of the 5.9 it had fetched on average since 2002.
Goldman set a 12-month target of 755p on the shares, pointing out the company's upcoming capital markets day on 6 November. |
| | How Can You Profit From The Low Price Of Oil? | | With oil prices at almost six year low, how low can it go!
Get your report now | | |
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 | |
No comments:
Post a Comment