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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: FTSE rebounds ahead of US inflation report The FTSE rebounded on Thursday from three days of declines as investors dusted off disappointing data in the previous session.
Wednesday saw a worse-than-expected easing in September Chinese inflation. The consumer price index rose 1.6% from a year earlier, slowing down from a 2% increase in August, the National Bureau of Statistic said. Analysts had been expecting a 1.8% increase, adding to concerns about the health of the world's second largest economy.
US retail sales rose 0.1% month-on-month compared with a flat reading in the previous month and with analysts' expectations for 0.2% increase, the Commerce Department revealed.
The UK labour report was mixed with the unemployment rate falling unexpectedly to 5.4% in the three months to August from the previous quarter's 5.5% while wages rose less than expected during the period and jobless claims in September surprisingly increased.
Turning to Thursday's agenda, US inflation figures will be in focus with analysts expecting deflation in September amid falling energy and food prices.
The CPI is forecast to drop 0.1% in September from a year ago, following a 0.2% increase in August. Analysts predict CPI on a month-on-month basis to decrease 0.2% last month after a 0.1% fall in August. Excluding food and energy prices, CPI growth last month is estimated to remain in line with August, rising 0.1% month-on-month and 1.8% year-on-year.
The Federal Reserve's September policy meeting minutes last week revealed the central bank voted to keep interest rates unchanged in part due to concerns of prolonged low inflation. The Fed is targeting 2% inflation.
"Given that there is usually a lag on the CPI numbers we can probably expect a similarly weak outlook as we head towards year end, making it doubly difficult for the US Fed to continue pushing its narrative of a rate rise sometime this year," said Michael Hewson, chief market analyst at CMC Markets.
Among companies, Burberry plunged after reporting broadly flat sales in the six months to 30 September after a slowing in the second quarter due to its exposure to China. The luxury fashion retailer said it would cut costs to minimise the impact on full-year profits.
Unilever advanced after posting a jump in revenue in the third quarter and saying it expects underlying sales growth for the year to be towards the top end of its target range.
Hargreaves Lansdown continued its rally after reporting a near-50% increase in net new business in the third quarter on Wednesday.
WH Smith gained after the retailer posted a rise in pre-tax profit for the year on the back of a good performance across the group, with the travel business in particular providing a boost.
Tesco slumped as it sold 14 sites managed by its Spenhill property development arm across London, the South East and Bath for £250m. |
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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.
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Losses can exceed deposits |
| | Market Movers
techMARK 3,008.20 +0.67%
FTSE 100 6,328.59 +0.94%
FTSE 250 16,873.39 +0.37%
FTSE 100 - Risers
ARM Holdings (ARM) 976.50p +4.66%
Glencore (GLEN) 124.95p +4.12%
Unilever (ULVR) 2,896.00p +3.80%
Hargreaves Lansdown (HL.) 1,366.00p +2.71%
Anglo American (AAL) 697.40p +2.41%
BP (BP.) 385.85p +2.17%
Antofagasta (ANTO) 592.50p +2.07%
Aberdeen Asset Management (ADN) 338.60p +1.96%
Rio Tinto (RIO) 2,575.00p +1.86%
Standard Chartered (STAN) 740.40p +1.70%
FTSE 100 - Fallers
Burberry Group (BRBY) 1,253.00p -11.70%
Sports Direct International (SPD) 662.00p -1.93%
Smiths Group (SMIN) 1,014.00p -1.55%
Carnival (CCL) 3,273.00p -0.85%
Meggitt (MGGT) 466.00p -0.83%
TUI AG Reg Shs (DI) (TUI) 1,210.00p -0.66%
Barclays (BARC) 244.50p -0.63%
Tesco (TSCO) 191.95p -0.26%
International Consolidated Airlines Group SA (CDI) (IAG) 575.50p -0.17%
Ashtead Group (AHT) 977.50p -0.15%
FTSE 250 - Risers
Kaz Minerals (KAZ) 135.80p +4.70%
Man Group (EMG) 157.00p +3.84%
WH Smith (SMWH) 1,595.00p +3.50%
Virgin Money Holdings (UK) (VM.) 416.20p +3.38%
Amec Foster Wheeler (AMFW) 825.00p +2.74%
Restaurant Group (RTN) 713.50p +2.66%
Vedanta Resources (VED) 581.00p +2.65%
Evraz (EVR) 91.85p +2.40%
Ophir Energy (OPHR) 104.10p +2.26%
Hunting (HTG) 450.30p +2.25%
FTSE 250 - Fallers
Card Factory (CARD) 355.40p -4.28%
Serco Group (SRP) 101.50p -3.24%
Booker Group (BOK) 175.60p -2.44%
Spectris (SXS) 1,709.00p -2.40%
Dunelm Group (DNLM) 922.50p -2.12%
Electrocomponents (ECM) 216.20p -1.99%
Ted Baker (TED) 2,839.00p -1.70%
OneSavings Bank (OSB) 352.80p -1.45%
Enterprise Inns (ETI) 103.50p -1.43%
Countrywide (CWD) 463.20p -1.15%
FTSE TechMARK - Risers
SDL (SDL) 393.00p +2.34%
Spirent Communications (SPT) 76.75p +1.66%
NCC Group (NCC) 267.25p +1.52%
Skyepharma (SKP) 337.50p +1.50%
Consort Medical (CSRT) 940.00p +0.48%
KCOM Group (KCOM) 89.75p +0.28%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 204.06 +0.08%
FTSE TechMARK - Fallers
Dialight (DIA) 640.00p -1.54%
Oxford Instruments (OXIG) 664.50p -1.12% |
| | UK Event Calendar | | Thursday 15 October
INTERIMS
Booker Group
INTERIM DIVIDEND PAYMENT DATE
Belvoir Lettings, Chesnara, Macfarlane Group, RPS Group, RSA Insurance Group, UTV Media
INTERIM EX-DIVIDEND DATE
British American Inv Trust, British Polythene Industries, Cambian Group, Card Factory, Charles Taylor, Dillistone Group, Impellam Group, Jiasen International Holdings Ltd, Kerry Group 'A' Shares, Manx Telecom , Mears Group, OneSavings Bank, Pennant International Group, Restore, Smart Metering Systems, Spectris, Sprue Aegis, Staffline Group, Ted Baker, TT Electronics
QUARTERLY EX-DIVIDEND DATE
Middlefield Canadian Income PCC
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (US) (13:30)
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (15:00)
Q3
Schlumberger Ltd., Unilever
GMS
Filtronic, Metals Exploration, Tinci Holdings Ltd. (DI)
FINALS
Pure Wafer, WH Smith
ANNUAL REPORT
Smiths Group
IMSS
Ferrexpo, Man Group, Renishaw
SPECIAL EX-DIVIDEND PAYMENT DATE
Card Factory
EGMS
Nord Gold NV GDR (Reg S), Zhejiang Expressway Co 'H' Shares
AGMS
IG Group Holdings, IPPlus, Mattioli Woods, Oil & Gas Development Company Ltd GDR (Reg S), Rank Group, Renishaw
FINAL DIVIDEND PAYMENT DATE
HML Holdings
FINAL EX-DIVIDEND DATE
Bioventix, Clinigen Group, Close Brothers Group, Daejan Holdings, Dunelm Group, Haynes Publishing Group, Henderson EuroTrust, IPPlus, Mid Wynd International Inv Trust, Pacific Horizon Inv Trust, Petra Diamonds Ltd.(DI), Produce Investments, Revolution Bars Group, Schroder Japan Growth Fund, Strategic Equity Capital
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Equity markets rebound from two days of losses European stocks rose in early trade, rebounding from recent losses as expectations of a rate hike by the Federal Reserve were pushed back following disappointing US data in the previous session.
Despite a negative US session overnight, at 0900 BST the benchmark Stoxx Europe 600 index and Germany's DAX were 0.9% firmer and France's CAC 40 was up 0.8%.
"Overall sentiment is mixed, however with US rates not likely to go up any time soon, China stabilising and markets having come off substantially from their highs over the past few months some feel increasingly tempted to take advantage of generally lower valuations and are willing to pour money back into stocks," said Markus Huber, senior analyst at Peregrine & Black.
On Wednesday, data released by the Department of Commerce showed US retail sales rose 0.1% in September on the month, compared with a flat reading in August and a touch below analysts' expectations of a 0.2% increase.
Meanwhile, US wholesale prices declined 0.5% month-on-month in September, which was steeper than the 0.2% drop analysts were expecting.
On the corporate front, shares in household goods giant Unilever rallied after it posted jump in revenue in the third quarter and said it now expects underlying sales growth for the year to be towards the top end of its target range.
Hedge fund firm Man Group was also on the front foot after it reported third-quarter net inflows of $1.4bn.
Casino surged after the French supermarket chain's third-quarter sales beat analysts' expectations.
On the downside, luxury fashion retailer Burberry tumbled after it said sales in the second quarter slowed as the market, particularly for Chinese customers, became "increasingly challenging".
Syngenta slid after the Swiss agricultural chemicals company said sales in the third quarter fell 12% on the year to $2.6bn.
Shares in Swedish clothing retailer Hennes & Mauritz were broadly flat after it said sales in September rose 11% from the same month last year. |
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| | US Market Report | | US close: Dow plunges over 150 points amid disappointing economic data US stocks declined on Wednesday, as investors digested a disappointing reading on retail sales and a number of corporate earnings reports.
The Dow Jones Industrial Average closed down 157 points to 16,924.75, while the S&P 500 and the Nasdaq were nine and six points lower respectively.
Retail sales disappoint
The Department of Commerce said retail sales rose 0.1% month-on-month compared with a flat reading in the previous month and with analysts' expectations for a 0.2% increase.
"The softness of September's retail sales figures supports our view that the Fed probably isn't going to hike interest rates until early next year," said Paul Ashworth, chief US economist at Capital Economics.
"We now estimate that third-quarter real consumption growth was around 3.0% annualised, which is still healthy enough, but not quite as good as the 3.6% gain that we were anticipating."
Meanwhile, according to the Labor Department, wholesale prices declined 0.5% month-on-month in September driven lower by the sharpest drop in gasoline prices since January.
The decline was bigger than the 0.2% drop analysts had forecast and was also lower compared to the flat reading registered in the previous month.
Elsewhere, applications for US home mortgages tumbled last week, as the Mortgage Bankers Association revealed its index of finance application activity slumped 27.6%.
Earnings in focus In company news, Intel rose 2.37% after the IT giant reported slower growth in its data-centre businesses, although its quarterly profit beat forecasts. JP Morgan Chase & Co closed down 2.53% after saying late on Tuesday its quarterly revenue fell short of expectations.
Among the companies that reported before the bell, BlackRock gained 2.33% after its quarterly results beat analysts' expectations, while Bank of America climbed 0.77% after swinging to a third quarter profit, although revenue declined year-on-year.
Netflix lost 12% in after hour trading after its quarterly revenue missed forecast, while Wal-Mart plunged 10.04% after warning its earnings would be dented by a $1bn investment in digital initiatives.
The retailer expects earnings per share to decline by 6% to 12% in its next business year.
The stock suffered its biggest one-day drop since 1988 and closed at its lowest level since May 2012.
Worries over China slowdown intensify
Elsewhere, Asian markets fell on Wednesday, after China's National Bureau of Statistics said the consumer price index rose 1.6% year-on-year in September compared with a 2% increase in August and with analysts' expectations for a 1.8% gain.
"We expect the fall in consumer price inflation to be temporary," said Julian Evans-Pritchard, China economist at Capital Economics.
"CPI and PPI are likely to pick-up markedly, easing concerns over deflation."
The dollar was on the back foot against the main currencies, losing 0.8% against both the yen and the euro. The greenback slumped 1.42 % against the pound, while gold futures surged 1.54% to $1,186.83.
European stocks were in the red, while oil prices fell, with West Texas Intermediate losing 0.15% to $46.59 a barrel.
S&P 500 - Risers
TripAdvisor Inc. (TRIP) $83.28 +24.88%
Sandisk Corp. (SNDK) $68.79 +11.36%
Analog Devices Inc. (ADI) $59.80 +6.69%
Denbury Resources Inc. (DNR) $3.51 +6.36%
Newmont Mining Corp. (NEM) $19.47 +5.99%
FMC Corp. (FMC) $38.52 +5.97%
Linear Technology Corp. (LLTC) $43.58 +5.88%
Mosaic Company (MOS) $35.31 +5.59%
Staples Inc. (SPLS) $12.55 +4.32%
Lam Research Corp. (LRCX) $67.21 +3.99%
S&P 500 - Fallers
Wal-Mart Stores Inc. (WMT) $60.02 -10.06%
Best Buy Co. Inc. (BBY) $34.80 -6.05%
Expedia Inc. (EXPE) $121.46 -5.18%
Windstream Holdings Inc (WIN) $6.38 -4.92%
Boeing Co. (BA) $134.11 -4.41%
Dollar General Corp (DG) $65.09 -4.24%
Chipotle Mexican Grill Inc. (CMG) $719.02 -4.18%
Darden Restaurants Inc. (DRI) $63.73 -4.05%
Under Armour Inc. Class A (UA) $97.26 -3.99%
D. R. Horton Inc. (DHI) $29.30 -3.68%
Dow Jones I.A - Risers
Intel Corp. (INTC) $32.70 +2.06%
Chevron Corp. (CVX) $89.77 +1.57%
Exxon Mobil Corp. (XOM) $80.17 +1.28%
E.I. du Pont de Nemours and Co. (DD) $56.43 +1.20%
Caterpillar Inc. (CAT) $70.70 +0.76%
International Business Machines Corp. (IBM) $149.94 +0.21%
Merck & Co. Inc. (MRK) $49.54 +0.14%
Procter & Gamble Co. (PG) $74.21 +0.13%
Pfizer Inc. (PFE) $33.02 +0.12%
Coca-Cola Co. (KO) $41.70 +0.12%
Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $60.02 -10.06%
Boeing Co. (BA) $134.11 -4.41%
JP Morgan Chase & Co. (JPM) $59.95 -2.60%
United Technologies Corp. (UTX) $92.11 -2.30%
Apple Inc. (AAPL) $110.07 -1.54%
Unitedhealth Group Inc. (UNH) $122.17 -1.47%
Visa Inc. (V) $74.17 -1.11%
Home Depot Inc. (HD) $120.30 -1.08%
Johnson & Johnson (JNJ) $94.52 -0.97%
General Electric Co. (GE) $27.60 -0.97%
Nasdaq 100 - Risers
TripAdvisor Inc. (TRIP) $83.28 +24.88%
Sandisk Corp. (SNDK) $68.79 +11.36%
Maxim Integrated Products Inc. (MXIM) $38.26 +10.23%
Analog Devices Inc. (ADI) $59.80 +6.69%
Linear Technology Corp. (LLTC) $43.58 +5.88%
Nxp Semiconductors Nv (NXPI) $91.33 +4.95%
Staples Inc. (SPLS) $12.55 +4.32%
Micron Technology Inc. (MU) $18.83 +3.55%
Nvidia Corp. (NVDA) $27.30 +3.39%
Vertex Pharmaceuticals Inc. (VRTX) $113.02 +3.31%
Nasdaq 100 - Fallers
Expedia Inc. (EXPE) $121.46 -5.18%
Dollar Tree Inc (DLTR) $61.28 -3.44%
Liberty Interactive Corporation QVC Group (QVCA) $27.26 -2.82%
F5 Networks Inc. (FFIV) $117.28 -2.77%
eBay Inc. (EBAY) $23.94 -2.74%
Priceline Group Inc (PCLN) $1,310.89 -2.54%
Monster Beverage Corp (MNST) $128.46 -2.45%
Starbucks Corp. (SBUX) $58.71 -2.41%
Charter Communications Inc. (CHTR) $182.71 -2.23% |
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| | Newspaper Round Up | | Thursday newspaper round-up: HSBC, Apple, Banks Hundreds of workers at HSBC's investment banking division in London have had their pay cut by 10 per cent and been ordered to take two weeks of unpaid leave by the end of the year.The bank, which is under intense pressure to reduce costs, broke the news to staff last week and instructed managers that there would be "0% exceptions". - The Times
Apple faces a £560m legal bill after coming under fire in the technology industry's relentless patent wars. A jury in the United States decided that microchips used in some of Apple's iPhones infringed a patent. According to a recent ruling by the judge in the case, Apple could be forced to pay as much as $862m damages. - The Daily Telegraph
A new regime intended to make top bosses at banks more accountable for their actions will be extended to other parts of the financial services industry in 2018, according to a proposed law set out by the government. The senior managers and certification regime - which puts the onus on top bosses to take responsibility for their actions - is being introduced for banks, building societies, credit unions and some investment firms from March 2016. - The Guardian
Three former directors of City Link have been charged with criminal offences in relation to the collapse of the delivery company, which led to the loss of 3,000 jobs last Christmas. David Smith, the former managing director, the former finance director Robert Peto, and a non-executive director Thomas Wright, have been charged with failing to notify the business secretary of plans to make staff redundant at the firm and will go on trial in November. - The Guardian |
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