| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Stocks end higher as miners and oil producers rally The FTSE reversed an earlier decline on Tuesday to end higher, led by mining and energy producers as oil and base metal prices rallied.
Oil producers Royal Dutch Shell, BP and BG Group were among the top risers as Brent crude and West Texas Immediate jumped 4% to $51.34 per barrel and 3.5% to $47.96 per barrel respectively.
"With oil rallying today it is hardly surprising to see major oil stocks extend their bounce into a second session," said IG senior market analyst Chris Beauchamp.
"So long as Syria remains a flashpoint in international affairs we are likely to see a constant bid under the oil price."
Mining shares including Anglo American and Fresnillo were also sitting higher on an increase in metal prices.
Meanwhile, the US market was lifted by hopes the Federal Reserve will hold interest rates unchanged for longer following Friday's weaker-than-expected non-farm payrolls report. Fed official John Williams may shed further light behind the central bank's next move when he speaks in California after the close.
Elsewhere in the US, the trade deficit widened in August as a strong dollar kept exports to three-year low. According to figures published by the Commerce Department, trade deficit in the world's largest economy jumped 16% month-on-month to $48.3bn in August, higher than the $47.1bn analysts had expected.
Back on this side of the pond, Halifax revealed UK house prices fell 0.9% in September from August when prices rose 2.7%. Analysts had pencilled in a 0.1% gain. Compared to a year ago, prices slowed to 8.6% growth in the three months to September, compared to a previous 9% increase and analysts' forecasts of 9.1% growth.
Germany's factory orders fell 1.8% month-on-month in August, marking the second successive month of a
decline following a 2.2% drop in July, Destatis revealed. The figure was well short of the expected 0.5% increase.
Retail sales in the Eurozone grew for the fifth consecutive month in September, Markit showed. The purchasing managers' index rose to 51.9 from 51.4 in August, above the 50 level that separates an expansion from a contraction.
On the company front, SABMiller slumped after reporting a 9% decline in revenue on a reported basis for the six months to 30 September, reflecting currency headwinds. Bloomberg reported that the company has rejected an informal takeover offer from Anheuser-Busch InBev that it considered too low.
Ted Baker was also in the red despite reporting a better-than-expected 24.5% jump in half-year revenue and a 14.6% increase in pre-tax profit to £17.8m in line with estimates.
Acacia Mining tumbled after the miner revealed its production in the third quarter was weaker than expected and lowered its full-year guidance.
Greggs surged after saying it sales in the 13 weeks to October were slightly ahead of expectations with the full year likely to be ahead of previous guidance.
WM Morrison Supermarkets and fellow supermarket chain Tesco gained ahead of the latter's first half results on Wednesday.
EasyJet descended despite reporting a 7.6% increase in September passenger numbers. |
| | 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 |
| | Market Movers
techMARK 3,063.78 -0.62%
FTSE 100 6,333.80 +0.55%
FTSE 250 17,134.19 +0.14% FTSE 100 - Risers
Anglo American (AAL) 605.50p +4.49%
Royal Dutch Shell 'B' (RDSB) 1,771.00p +3.81%
Royal Dutch Shell 'A' (RDSA) 1,752.50p +3.73%
Fresnillo (FRES) 674.50p +3.37%
Tesco (TSCO) 192.20p +3.03%
BP (BP.) 378.85p +2.95%
Morrison (Wm) Supermarkets (MRW) 173.10p +2.91%
BG Group (BG.) 1,064.50p +2.85%
Glencore (GLEN) 118.00p +2.61%
Burberry Group (BRBY) 1,441.00p +2.49%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 2,268.00p -4.10%
SABMiller (SAB) 3,623.00p -3.75%
easyJet (EZJ) 1,762.00p -2.54%
Shire Plc (SHP) 4,490.00p -2.48%
ARM Holdings (ARM) 944.00p -1.97%
Severn Trent (SVT) 2,225.00p -1.29%
Legal & General Group (LGEN) 247.30p -1.28%
Dixons Carphone (DC.) 442.20p -1.12%
AstraZeneca (AZN) 4,203.00p -1.05%
Land Securities Group (LAND) 1,295.00p -0.84%
FTSE 250 - Risers
AL Noor Hospitals Group (ANH) 1,001.00p +8.92%
Greggs (GRG) 1,155.00p +7.34%
Tullow Oil (TLW) 222.60p +6.61%
Brewin Dolphin Holdings (BRW) 268.00p +5.72%
Premier Oil (PMO) 83.35p +5.57%
Petrofac Ltd. (PFC) 837.00p +5.42%
International Personal Finance (IPF) 422.90p +5.36%
Amec Foster Wheeler (AMFW) 801.50p +4.50%
Nostrum Oil & Gas (NOG) 546.00p +4.20%
Hunting (HTG) 441.70p +4.08%
FTSE 250 - Fallers
Acacia Mining (ACA) 220.00p -15.48%
BTG (BTG) 602.50p -9.13%
Entertainment One Limited (ETO) 218.80p -4.87%
Drax Group (DRX) 250.60p -4.42%
Betfair Group (BET) 3,255.00p -3.33%
Ted Baker (TED) 3,181.00p -2.96%
Genus (GNS) 1,381.00p -2.75%
Sophos Group (SOPH) 236.90p -2.67%
Playtech (PTEC) 785.50p -2.60%
Riverstone Energy Limited (RSE) 890.00p -2.47%
FTSE TechMARK - Risers
E2V Technologies (E2V) 239.25p +2.03%
Oxford Instruments (OXIG) 614.50p +1.82%
Torotrak (TRK) 6.86p +1.19%
Oxford Biomedica (OXB) 7.80p +0.78%
KCOM Group (KCOM) 91.75p +0.55%
SDL (SDL) 368.00p +0.34%
Dialight (DIA) 665.00p +0.08%
FTSE TechMARK - Fallers
Sarossa (SARS) 1.82p -4.71%
XP Power Ltd. (DI) (XPP) 1,631.00p -2.63%
BATM Advanced Communications Ltd. (BVC) 19.50p -2.50%
Skyepharma (SKP) 340.00p -1.45%
Innovation Group (TIG) 39.25p -0.63%
Sepura (SEPU) 174.00p -0.43%
Ricardo (RCDO) 884.50p -0.39%
Spirent Communications (SPT) 75.50p -0.33%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.00 -0.25%
Consort Medical (CSRT) 928.00p -0.22% |
| | 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 |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Markets advance amid mixed bag of economic data European stocks edged higher on Tuesday as investors mulled over a series of data releases amid expectations that central banks will continue with their easing monetary policies.
The benchmark Stoxx Europe 600 index closed up 0.59%, while France's CAC rose 0.95% and Germany's DAX climbed 0.90%.
The euro was on the front foot against the main currencies, surging 0.66% against the US dollar and 0.46% and 0.14% respectively against the yen and the euro.
IG's senior market analyst Chris Beauchamp said the strong performance in equity markets was due to a combination of factors, "including optimism about US rates and expectations that Mario Draghi will deliver the goods."
"Given that the environment remains little changed since the last Fed meeting, and while US central bankers continue to talk about rate hikes, it seems unlikely that anyone will do anything so rash as to actually vote for one," he said.
"The second is more difficult to forecast, since the ECB is as yet unwilling to expand a QE programme that has not fully proved its worth."
Mixed data in the Eurozone
On the economic data front, figures released by Destatis showed German industrial orders were down 1.8% on the month, compared with expectations for a 0.5% increase, while July's drop was revised down to 2.2% from 1.4%.
Meawhile, Germany's construction sector expanded at the fastest rate in six months in September. Markit's construction purchasing managers' index rose from 50.3 in August to 52.4, marking the strongest increase in construction output since March.
Growth in the German retail sector slowed slightly in September but the overall quarterly performance was the best since 2006.
Elsewhere, data revealed retail sales in the Eurozone grew for the fifth consecutive month in September.
Markit's retail PMI showed the rate of growth in the retail sector picked up slightly in September, as it rose from 51.4 in August to 51.9.
In company news, Volkswagen shares rallied 4.09% after the company's chief executive said it will delay or cancel all non-essential projects in a bid to slash spending following the emissions scandal.
French mobile operator Bouygues Telecom rose 3.87% after the company said it aims to improve its profit margins and sales in the coming years as it looks to defend its standalone strategy. |
| | 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! |
| | US Market Report | | US open: Stocks struggle for direction as Wall Street takes a breather from rally US stocks struggled for direction early on Tuesday, as the recent rally looks set to ease up a little ahead of the third quarter earnings season.
Shortly before 1500 BST, the Dow Jones Industrial Average was up 40 points, while the S&P 500 and the Nasdaq were one 13 and points lower respectively.
Wall Street rallied on Monday, with the S&P 500 rising for a fifth consecutive session, as a series of economic reports appeared to take a hike in interest rates off the table for this year.
Earnings season on the way
In company news, the third quarter earnings season gets unofficially underway when Alcoa reports after the closing bell on Thursday.
Pepsi rose 1.87% after the soft drinks giant posted better-than-expected earnings per share ahead of the bell, even though its third-quarter revenue fell 5% and its net income slumped 73%.
Chemical group Dupont surged 4.10% after announcing late on Monday that its long-standing chief executive Ellen Kullman will retire on 16 October.
Apple and Facebook declined 0.52% and 0.64% respectively, after the European Union's top court suspended a 15-year-old agreement that allowed technology firms to move customer data to the US from Europe.
On the economic data front, according to figures published by the Commerce Department, the US trade deficit jumped 16% month-on-month to $48.3bn in August, higher than the $47.1bn analysts had expected.
"Net trade will remain a drag on the real economy until well into next year. for the third quarter specifically, we estimate that real exports contracted very slightly, while real imports expanded by close to 4% annualised," said Steve Murphy, US economist at Capital Economics.
Still to come, San Francisco Federal Reserve president John Williams, a voting member of the Federal Open Market Committee, will give a speech on the economic outlook in San Francisco at 2230 BST.
Elsewhere, Asian stocks rallied, boosted by news that the Bank of Japan might further loosen its monetary policy this week, while European stocks moved in tight ranges amid a mixed bag of economic data.
The dollar was broadly flat against the yen and climbed 0.16% and 0.18% against the pound and the euro respectively, while gold futures rose 0.99% to $1,147.05. |
| | 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 | | Barclays upgraded Wood Group to 'overweight' from 'equalweight', keeping its price target at 830p.
"We feel that Wood Group offers investors a combination of both stability and oil price exposure," it said, adding "If we do see an uptick in oil prices, then we feel that Wood Group is uniquely poised."
Barclays said the company's engineering business should benefit from a restart of Brownfield work and the re-emergence over time of Greenfield projects.
The bank said any increase in oil prices could be capped by an uptick in US activity, which should also benefit Wood Group.
"This, if it occurs, would lead us to upgrade numbers far quicker than we would for other sub-sectors and these early earnings revisions should drive the stock. "
As a result, although it sees less upside under a status quo scenario for Wood Group, on which its estimates are based, Barclays reckons its positioning makes it ideal for a more aggressive stance.
At 0945 BST, Wood Group shares were up 2.2% at 669.50p. |
| | 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 | |
No comments:
Post a Comment