| | | | | | | 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'?
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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 rally on hopes of China stimulus after weak PMIs London stocks rallied on Thursday after weak Chinese manufacturing data spurred hopes of further stimulus. The government's official purchasing managers' index on China manufacturing rose unexpectedly to 49.8 in September from 49.7 August. However, it remained under the 50 level that separates contraction from expansion.
Separately, a private survey by Caixin/Markit revealed a drop in PMI manufacturing in September to 47.2 from 47.3 a month earlier. September's reading marked an upward revision from the initial estimate of 47, which analysts expected to remain unchanged.
Meanwhile, the official services PMI remained at 53.4 in September while the Caixin/Markit services PMI fell to 50.5 last month from 51.5 in August.
"These numbers still paint a picture of an economy where the recent easing measures do not appear to showing any evidence of a trickledown effect in the hard data, raising the prospect of further measures in the coming weeks," said Michael Hewson, chief market analyst at CMC Markets.
Manufacturing reports on the UK and the US are also due on Thursday.
Markit's UK manufacturing PMI at 0930 BST is forecast to fall to 51.3 in September from 51.5 a month earlier.
Markit's US manufacturing PMI at 1445 BST is expected to be confirmed at 53 in September. ISM's US manufacturing index is projected to drop to 50.6 in September from 51.1 in August.
The US agenda will also include the release of weekly jobless claims and construction spending figures at 1330 BST and 1500 BST respectively.
Federal Reserve official John Williams, who has called for an interest rate hike this year, will speak after close of trading in Salt Lake City. Williams on Monday signalled that the Fed should not wait much longer to raise rates. The Fed meets in October and December.
"When you have a high-pressure economy, with unsustainably high levels of economic activity for a long period of time, people may make decisions based on excessive optimism, rather than sound economic basics," Williams warned. "One lesson I have taken from past episodes is that once the imbalances have grown large, the options to deal with them are limited."
In company news, Johnson Matthey jumped after completing the sale of its Alfa Aesar Research Chemicals business to Thermo Fisher Scientific for £256m in cash.
Tullow Oil rallied after saying its lending banks have completed the routine six-monthly reserve-based lend redetermination process and available debt capacity remains unchanged at $3.7bn.
Glencore gained for a third day after its shares plunged on Monday, as the company reassured credit investors that its financing was strong. |
| | Market Movers
techMARK 3,049.19 +1.32%
FTSE 100 6,146.20 +1.40%
FTSE 250 16,881.63 +1.19%
FTSE 100 - Risers
Glencore (GLEN) 95.98p +4.84%
Pearson (PSON) 1,180.00p +4.70%
Johnson Matthey (JMAT) 2,523.00p +3.06%
Anglo American (AAL) 565.20p +2.60%
BP (BP.) 341.90p +2.37%
London Stock Exchange Group (LSE) 2,475.00p +2.31%
Antofagasta (ANTO) 511.00p +2.26%
BHP Billiton (BLT) 1,026.50p +2.14%
Rio Tinto (RIO) 2,256.00p +2.08%
ARM Holdings (ARM) 965.50p +1.90%
FTSE 100 - Fallers
Morrison (Wm) Supermarkets (MRW) 164.40p -1.02%
Tesco (TSCO) 182.05p -0.63%
Centrica (CNA) 227.80p -0.61%
Coca-Cola HBC AG (CDI) (CCH) 1,389.00p -0.57%
SABMiller (SAB) 3,733.00p -0.11%
Sainsbury (J) (SBRY) 260.90p -0.04%
FTSE 250 - Risers
Tullow Oil (TLW) 189.20p +11.89%
Premier Oil (PMO) 70.80p +6.23%
Alliance Trust (ATST) 475.10p +3.69%
Zoopla Property Group (WI) (ZPLA) 216.50p +3.64%
Kaz Minerals (KAZ) 87.60p +3.48%
Henderson Group (HGG) 269.10p +3.42%
Ophir Energy (OPHR) 92.60p +3.06%
Cranswick (CWK) 1,641.00p +2.82%
Evraz (EVR) 74.95p +2.81%
Foxtons Group (FOXT) 243.50p +2.66%
FTSE 250 - Fallers
AO World (AO.) 164.90p -2.08%
CLS Holdings (CLI) 1,870.00p -1.58%
IG Group Holdings (IGG) 760.00p -1.23%
BBA Aviation (BBA) 266.10p -0.60%
John Laing Group (JLG) 196.30p -0.36%
Computacenter (CCC) 753.50p -0.33%
SSP Group (SSPG) 304.70p -0.20%
Templeton Emerging Markets Inv Trust (TEM) 398.70p -0.18%
Card Factory (CARD) 391.40p -0.15%
Rank Group (RNK) 266.90p -0.15%
FTSE TechMARK - Risers
Oxford Instruments (OXIG) 603.00p +3.61%
Oxford Biomedica (OXB) 8.22p +1.73%
Spirent Communications (SPT) 76.50p +1.32%
Dialight (DIA) 640.00p +0.71%
BATM Advanced Communications Ltd. (BVC) 20.25p +0.62%
SDL (SDL) 326.50p +0.46%
NCC Group (NCC) 275.00p +0.36%
KCOM Group (KCOM) 89.25p +0.28%
FTSE TechMARK - Fallers
Sepura (SEPU) 173.00p -1.14%
E2V Technologies (E2V) 226.00p -0.44%
Skyepharma (SKP) 349.50p -0.43% |
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| | UK Event Calendar | | Thursday 01 October
INTERIM DIVIDEND PAYMENT DATE
Amlin, Avesco Group, Churchill China, General Accident (Prf), Hammerson, HSS Hire Group , Jardine Lloyd Thompson Group, Novae Group, Phoenix Group Holdings (DI), Portmeirion Group, Robinson
INTERIM EX-DIVIDEND DATE
32Red, AA , Advanced Medical Solutions Group, Air Partner, Barr (A.G.), Bodycote, BrainJuicer Group, Burford Capital , Capital & Regional, Cdialogues , Centrica, Charlemagne Capital Ltd., Fairpoint Group, Fisher (James) & Sons, Flowtech Fluidpower, Good Energy Group, Highland Gold Mining Ltd., Hunters Property , Huntsworth, IDOX, Inmarsat, Intertek Group, John Laing Group , Keywords Studios, Maven Income & Growth 2 VCT, Morgan Sindall Group, Morrison (Wm) Supermarkets, Mortgage Advice Bureau (Holdings) , NAHL Group, Netplay TV, Safestyle UK , Smurfit Kappa Group, Somero Enterprises Inc. (DI), Stilo International, Trinity Mirror, XLMedia
QUARTERLY PAYMENT DATE
GlaxoSmithKline
QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, British Land Company, Investors Capital Trust 'A' Shares, Mercantile Investment Trust (The), Torchmark Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
PMI Manufacturing (EU) (09:00)
GMS
Punch Taverns, Vmoto Limited (DI), Zoopla Property Group (WI)
FINALS
Bluefield Solar Income Fund Limited
SPECIAL EX-DIVIDEND PAYMENT DATE
JPMorgan Mid Cap Inv Trust, Maven Income & Growth 2 VCT
AGMS
Artemis Alpha Trust, Doric Nimrod Air One Ltd, Doric Nimrod Air Three Limited Red Ord Pref Shs Npv, Nimrod Sea Assets Limited, Sacoil Holdings (DI)
TRADING ANNOUNCEMENTS
ITE Group
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
Park Group, PZ Cussons
FINAL EX-DIVIDEND DATE
Alumasc Group, Eckoh, Hansard Global, HML Holdings, IG Group Holdings, JPMorgan Mid Cap Inv Trust, Murgitroyd Group, Smith (DS), United Carpets Group, WYG
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Equities track US and Asian markets higher
European stocks rose in early trade, taking their cue from positive sessions in the US and Asia, as investors sifted through the latest data on Chinese manufacturing.
At 0900 BST, the benchmark Stoxx Europe 600 index was up 1.2%, France’s CAC was 1.5% higher and Germany’s DAX was up 1.2%.
Mike van Dulken, head of research at Accendo Markets, said that while still in contractionary mode, the China PMI stabilised amid tentative signs that government stimulus is steadying weakness. He said that this, coupled with hopes of more accommodative policy being forthcoming to ensure a return to growth is seeing yesterday’s risk-on sentiment carry through.
According to government data, factory output improved slightly, edging up to 49.8 from August’s three-year low of 49.7 but below the 50 threshold that indicates expansion for the second consecutive month.
Still, the figure was a touch above the 49.7 reading analysts had expected. The sub-index tracking new orders rose from 49.7 to 50.2, while output grew from 51.7 to 52.3, although the gauge of new exports edged lower from 47.9 to 47.7.
Meanwhile, a separate survey conducted by Caixin/Markit revealed the purchasing managers’ index fell to a six-and-a-half year low, slipping from August’s reading of 47.3 to 47.2, although the figure was marginally better than the 47 flash estimate published last month.
Julian Evans-Pritchard, China economist at Capital Economics said the official PMI suggest monetary and fiscal stimulus could be on the cards.
On the corporate front, shares in speciality chemicals company Johnson Matthey rose after it said it has completed the sale of its Alfa Aesar Research Chemicals business to Thermo Fisher Scientific for £256m in cash.
Elsewhere, Tullow Oil surged after saying its lending banks have completed the routine six-monthly reserve-based lend redetermination process and available debt capacity remains unchanged at $3.7bn.
Mining and commodities group Glencore rallied as it continued to recover from recent heavy losses and following an upbeat research note by Citigroup.
On the downside, Altice NV slumped after the telecommunications company said it will launch a €1.8bn capital raising to fund part of its acquisition of US cable carrier Cablevision Systems Corp.
US initial jobless claims are at 1330 BST, while ISM manufacturing and construction spending are at 1500 BST. |
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| | US Market Report | | US close: Stocks rebound but not enough to stop worst quarterly declines since 2011 US stocks followed the global trend on Wednesday and rebounded from the losses of the week, with traders getting a bit of comfort as some stocks fought off quarterly declines. The Dow rose 1.47% to 16,284.7 points, the S&P increased 1.91% to 1,920.03. But the Nasdaq had the biggest gain, rising 2.28% to 4620.17.
But the overall picture wasn't so grand, with the market still registering its worst quarter since 2011.
"Things could be better in the next quarter if the Fed can at least remove the uncertainty by raising interest rates, though the slowdown in China isn't likely to abate anytime soon without a bigger dose of government stimulus," said CMC Markets' Jasper Lawler.
However a report from Recode that Twitter co-founder and interim chief executive Jack Dorsey may stay in the role permanently, gave confidence to investors.
It's expected Dorsey will be announced as the social media company's chief executive, while also remaining chief executive of mobile payments company Square. The report said the decision could be announced as soon as Thursday. Twitter shares up 5.24% late in the day to $26.93 at close.
Job figures out Wednesday from private consultancy firm ADP showed the US private sector generated 200,000 jobs in September, higher than economists' predictions of 188,000. That news gave the US dollar a boost against most major currencies.
The previous month's tally was revised a tad lower, to show a gain of 186,000 compared with a preliminary forecast of 190,000.
Companies with more than 500 staff took on another 106,000 hires, with medium-sized ones adding 56,000 new posts and small businesses another 37,000.
"We place limited weight on the ADP employment numbers, given their history of frequent revisions," analysts at Barclays said in a note.
Analysts will be keeping an eye out on Friday for the Labor Department's official employment report as a more reliable indicator of US labor markets.
With analysts also keeping a close eye on any indication from the Fed about what it plans to do with interest rates, Janet Yellen failed to drop any hints at a community banking symposium.
Reuters reported the Federal Reserve Chair did not comment on the US economy or monetary policy in her brief welcoming remarks, but noted that smaller banks were "essential" to the US economy. She said the Fed was working to make sure its oversight isn't too onerous for community banks.
It's widely expected the Fed will raise rates at some point this year.
And there was some positive news for the oil industry, with figures that showed oil stocks at an 80-year high for this time of year.
US commercial crude oil inventories grew by 4.0m barrels a day over the five days ending on 25 September to reach 457.9m barrels, according to the Energy Information Administration. Separately, gasoline inventories jumped by 3.3m barrels while those of distillate fuels decreased by 0.3m barrels.
Oil was up marginally, with West Texas Intermediate up 0.28% to $45.36 a barrel, and Brent gaining 0.6% to $48.52 a barrel respectively.
S&P 500 - Risers
Western Digital Corp. (WDC) $79.40 +14.46%
Ralph Lauren Corp (RL) $118.16 +13.56%
Sandisk Corp. (SNDK) $54.33 +10.67%
Peabody Energy Corp. (BTU) $1.38 +9.52%
Chesapeake Energy Corp. (CHK) $7.33 +7.95%
Allergan plc (AGN) $271.81 +7.82%
Seagate Technology Plc (STX) $44.80 +7.23%
Hudson City Bancorp Inc. (HCBK) $10.17 +7.05%
Freeport-McMoRan Inc (FCX) $9.69 +6.37%
Alexion Pharmaceuticals Inc. (ALXN) $156.39 +5.85%
S&P 500 - Fallers
Gap Inc. (GPS) $28.50 -5.69%
Denbury Resources Inc. (DNR) $2.44 -3.56%
Keurig Green Mountain Inc (GMCR) $52.14 -2.92%
Diamond Offshore Drilling Inc. (DO) $17.30 -2.81%
Autodesk Inc. (ADSK) $44.14 -2.43%
Nabors Industries Ltd. (NBR) $9.45 -2.17%
FMC Technologies Inc. (FTI) $30.99 -1.77%
Discovery Communications Inc. Class A (DISCA) $26.03 -1.40%
Helmerich & Payne Inc. (HP) $47.26 -1.21%
Ensco Plc. (ESV) $14.08 -1.19%
Dow Jones I.A - Risers
Chevron Corp. (CVX) $78.88 +3.45%
Intel Corp. (INTC) $30.14 +3.08%
Walt Disney Co. (DIS) $102.20 +2.80%
Nike Inc. (NKE) $122.97 +2.76%
General Electric Co. (GE) $25.22 +2.65%
Cisco Systems Inc. (CSCO) $26.25 +2.38%
Home Depot Inc. (HD) $115.49 +2.29%
Exxon Mobil Corp. (XOM) $74.35 +1.89%
JP Morgan Chase & Co. (JPM) $60.97 +1.89%
Microsoft Corp. (MSFT) $44.26 +1.89%
Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $71.94 -0.47%
Verizon Communications Inc. (VZ) $43.51 -0.05%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $79.40 +14.46%
Sandisk Corp. (SNDK) $54.33 +10.67%
Seagate Technology Plc (STX) $44.80 +7.23%
Alexion Pharmaceuticals Inc. (ALXN) $156.39 +5.85%
Nxp Semiconductors Nv (NXPI) $87.07 +5.77%
Charter Communications Inc. (CHTR) $175.85 +5.07%
Netflix Inc. (NFLX) $103.26 +4.99%
Biogen Inc (BIIB) $291.81 +4.88%
Twenty-First Century Fox Inc Class A (FOXA) $26.98 +4.57%
Avago Technologies Ltd. (AVGO) $125.01 +4.46%
Nasdaq 100 - Fallers
Keurig Green Mountain Inc (GMCR) $52.14 -2.92%
Autodesk Inc. (ADSK) $44.14 -2.43%
Discovery Communications Inc. Class A (DISCA) $26.03 -1.40%
Staples Inc. (SPLS) $11.73 -0.85%
TripAdvisor Inc. (TRIP) $63.02 -0.63%
CH Robinson Worldwide Inc (CHRW) $67.78 -0.54%
Wynn Resorts Ltd. (WYNN) $53.12 -0.19% |
| | 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 | | Thursday newspaper round-up: Glencore, Property prices, Syria The chairman of Glencore snapped up 100,000 shares yesterday as the troubled miner and commodities trader told creditors that fears about its potential demise were overblown. Tony Hayward, the former head of BP and the latest in a succession of directors and executives to make a public display of confidence in Glencore's future, spent £91,000 of his own cash. - The Times Property prices are set to increase this autumn after a surge in London was forecast to ripple out across the country on the back of a worsening imbalance between supply and demand. The gentle slowdown in house price growth was declared over as year-on-year property inflation crept up from a 26-month low of 3.2% in July to 3.8% in August, according to the latest Nationwide index. - The Times
Washington has rejected claims by Moscow that Russian air strikes in Syria were aimed at Islamic State of Iraq and the Levant fighters, as Russia added a dramatic edge to competition for influence with the US in the Middle East. The attacks were in western Syria, far from Isis strongholds, suggesting that the aim was to shore up Bashar al-Assad's regime. - Financial Times
Begbies Traynor, the London-listed insolvency firm, has bought the assets of its regional rival P&A Partnership out of administration. P&A is subject to a criminal investigation after allegations that it wrongfully overcharged creditors for administration work. - The Times |
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