| | | | | | | 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 ahead of US non-farm payrolls London stocks rose ahead of the release of the US non-farm payrolls report which may influence the Federal Reserve's interest rate decision this month. The Labor Department report is expected by analysts to show that US employers added 202,000 jobs in September, which would mark a pick-up from the previous month's 173,000. The unemployment rate is projected to remain at 5.1% in September. Average hourly earnings are forecast to rise 2.4% in September compared to the same month a year ago, following a 2.2% rise in August.
The figures will be closely monitored by the Federal Reserve ahead of its 27-28 October policy meeting, as the central bank is taking into consideration a wide-range of economic data in determining the best timing for an interest rate hike. Fed Chair Janet Yellen has said a rate hike is expected by the central bank this year.
"Its payroll Friday again, and although the employment report is of course crucial to second guessing the Fed, it does seem that there are even bigger global issues at the moment that will exert a stronger short-term influence on the Fed," said Michael Lermer, analyst at Deutsche Bank.
"Nevertheless it's always important and given the growth fears at the moment a stronger report would probably be better received this month than in the recent past where strong data would have raised concerns about tighter policy."
In the UK, construction data is due at 0930 BST. The Markit/CIPS construction purchasing managers' index is forecast to rise to 57.5 in September from 57.3 a month earlier. A reading above 50 signals an expansion while a level below indicates a contraction.
The estimates would mark a slightly more upbeat outlook than Thursday's manufacturing PMI, which revealed that manufacturers were cutting jobs for the first time in nearly two years.
In company news, financial services companies and banks were the top risers after the Financial Conduct Authority said it is looking to set a deadline of at least spring 2018 for consumers to lodge complaints about payment protection insurance. Barclays, Lloyds, and Royal Bank of Scotland all rallied on the news.
FirstGroup gained after saying overall trading is in line with management's expectations and its mult-year transformation plans continue to progress, despite a more challenging trading environment in some of the group's markets.
Paragon Group advanced after buying Five Arrows Leasing Group through its subsidiary Paragon Bank for £117m. |
| | Market Movers
techMARK 3,043.89 +1.12%
FTSE 100 6,150.36 +1.28%
FTSE 250 16,870.27 +0.64%
FTSE 100 - Risers
Standard Chartered (STAN) 666.40p +2.87%
Schroders (SDR) 2,857.00p +2.81%
Legal & General Group (LGEN) 243.00p +2.71%
InterContinental Hotels Group (IHG) 2,365.00p +2.65%
Lloyds Banking Group (LLOY) 77.15p +2.57%
Shire Plc (SHP) 4,607.00p +2.38%
Royal Bank of Scotland Group (RBS) 326.80p +2.38%
Aviva (AV.) 460.30p +2.36%
Prudential (PRU) 1,426.50p +2.29%
Carnival (CCL) 3,492.00p +2.28%
FTSE 100 - Fallers
Experian (EXPN) 1,027.00p -4.47%
Randgold Resources Ltd. (RRS) 3,866.00p -1.68%
Fresnillo (FRES) 600.00p -0.74%
Anglo American (AAL) 554.30p -0.13%
SABMiller (SAB) 3,698.00p -0.07%
FTSE 250 - Risers
Paragon Group Of Companies (PAG) 433.50p +9.80%
Synergy Health (SYR) 2,257.00p +5.47%
Greencore Group (GNC) 290.00p +3.79%
Premier Oil (PMO) 71.00p +3.42%
Man Group (EMG) 156.30p +2.96%
DCC (DCC) 5,125.00p +2.19%
Ocado Group (OCDO) 323.20p +1.92%
FirstGroup (FGP) 100.90p +1.92%
Fidelity China Special Situations (FCSS) 121.00p +1.85%
SEGRO (SGRO) 437.90p +1.84%
FTSE 250 - Fallers
Electrocomponents (ECM) 168.10p -6.56%
Kaz Minerals (KAZ) 85.25p -4.37%
CLS Holdings (CLI) 1,847.00p -3.40%
Smith (DS) (SMDS) 371.10p -3.11%
Cranswick (CWK) 1,653.00p -2.13%
NMC Health (NMC) 832.00p -2.12%
Ted Baker (TED) 3,222.00p -1.92%
Allied Minds (ALM) 363.10p -1.63%
Enterprise Inns (ETI) 107.30p -1.38%
Computacenter (CCC) 747.00p -1.26%
FTSE TechMARK - Risers
SDL (SDL) 344.50p +6.41%
Oxford Biomedica (OXB) 8.24p +6.19%
Oxford Instruments (OXIG) 589.00p +1.46%
Spirent Communications (SPT) 76.00p +1.00%
FTSE TechMARK - Fallers
Sarossa (SARS) 1.80p -4.51%
Dialight (DIA) 670.00p -0.37% |
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| | UK Event Calendar | | Friday 02 October
INTERIM DIVIDEND PAYMENT DATE
Aggreko, Arbuthnot Banking Group, Camellia, Chime Communications, Cineworld Group, Devro, Elementis, Fyffes, Greencore Group, Greggs, InterContinental Hotels Group, International Personal Finance, Irish Continental Group Units, Meggitt, Michael Page International, Millennium & Copthorne Hotels, Regus, SEGRO, Shire Plc, St James's Place, Taylor Wimpey
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (EU) (10:00)
Retail Sales (GER) (07:00)
ANNUAL REPORT
Progility
SPECIAL DIVIDEND PAYMENT DATE
Michael Page International
AGMS
Abbey, Atlantis Japan Growth Fund Ltd., Foresight 4 VCT, Henderson Smaller Companies Inv Trust
TRADING ANNOUNCEMENTS
Electrocomponents, Tate & Lyle
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
Carclo, Micro Focus International, Pennon Group, Poundland Group , TP5 VCT, TP5 VCT 'B' Shares |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Shares rise as investors look to nonfarm payrolls
European stocks posted healthy gains in early trade as investors looked to the release of the US nonfarm payrolls report for further clues on the timing of a rate hike by the Federal Reserve.
At 0850 BST, the benchmark Stoxx Europe 600 index was up 1.1%, Germany’s DAX was 1.2% firmer and France’s CAC was up 1.4%.
“As Friday kicks off we are seeing some confidence returning to equities and investors, who have had to endure some nail-biting sessions recently, will be hoping for a subdued end to the week,” said Mike McCudden, head of derivatives at Interactive Investor.
“After what has been another topsy-turvy week for equities, investors will be bracing themselves for US jobs data which may usher in a rate hike before year is out. However, while inflation remains subdued, the Fed can afford to hold off until Asian markets calm down. That may see us in to the new year, but regardless, markets have priced in the inevitable hike and the UK will probably follow suit.”
On the corporate front, shares in Telecom Italia rose following reports that France's Vivendi has taken steps to raise its stake in the telecoms group to around 19% of the ordinary share capital.
Elsewhere, Air-France-KLM edged up after the company announced plans for significant job cuts, while Lufthansa rallied after HSBC raised the stock to ‘buy’ from ‘hold’.
On the downside, Experian shares slumped after it emerged that T-Mobile customers and potential customers in the US may have had their private information exposed after the credit agency was hacked.
On the economic calendar, the focus will be firmly on the US nonfarm payrolls. Societe Generale said payrolls should reaccelerate in the month of September, from a lowly 173,000 in August to 225,000, while the unemployment rate is expected to move down by a tick to 5.0%.
“We also expect the prior month estimate to be revised up by as much as 74,000, as the BLS has historically significantly underestimated the change in nonfarm payrolls in August,” it said. “Overall, the report should signal a continued tightening of the labour market.” |
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| | US Market Report | | US close: Stocks struggle for direction, amid mixed data US stocks struggled for direction on Thursday, as investors digested a raft of mixed economic data. The Dow Jones Industrial Average closed down 13 points to 16,272.01, while the S&P 500 and the Nasdaq were four and 12 points higher respectively.
China-driven concerns ease up
Asian stocks closed mostly higher, with investors buoyed by news that concerns over a slowdown in China looked to be easing up. According to government data, factory output in China improved slightly, edging up to 49.8 from August's three-year low of 49.7 and against analysts' expectations for an unchanged reading.
However, 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.
"Economic growth in emerging economies has weakened substantially this year, and China may well see its growth slow to 6.8% this year from 7.3%, and the PMI data tends to confirm this," said Brenda Kelly, head analyst at London Capital Group.
Thursday data
US manufacturers grew in September at their slowest pace in over two years, figures released on Thursday showed.
The Institute for Supply Management revealed its manufacturing index declined from 51.1 to 50.2 in August, falling below the 50.6 reading analysts had expected.
The figure marked the lowest reading since May 2013, although it remained over the 50 threshold that indicates expansion.
"The September ISM data as consistent with the regional surveys already reported that show a stagnant US manufacturing sector," said analysts at Barclays.
"Lower energy prices, a strong dollar, and weak international demand are likely to prevent a strong rebound for the sector in the near term."
There was better news elsewhere as, according to the Commerce Department, construction spending increased 0.7% month-on-month in August, compared with analysts' expectations of a 0.6% gain and unchanged from the previous month. On a year-on-year basis, construction spending increased 13.7%.
Meawhile the number of first time unemployment benefits claimants rose by more than expected last week, as new claims rose by 10,000 to 277,000 in the week to 26 September, compared with analysts' expectations for a 270,000 reading.
"On balance, stable initial jobless claims and remarkably low continuing claims suggest labor market health remains intact," analysts at Barclays said.
"In tomorrow's September employment report, we look for non-farm payroll gains of 200,000 and an unchanged unemployment rate of 5.1%, in line with the low readings of initial and continuing jobless claims reported during the month."
Elsewhere, the headline seasonally-adjusted Markit Manufacturing Purchasing Managers' Index (PMI) in September edged up to 53.1 compared with the 53.0 reading reported in the flash estimate published last week.
While the final reading was marginally above expectations calling for an unchanged reading, it marked the second-lowest level since October 2013.
"The manufacturing slowdown therefore will be insufficient on its own to deter the Fed from hiking rates later this year, but adds a warning light that the pace of economic growth is set to slow as we move into the final quarter of the year," said Chris Williamson, Markit's chief economist.
October interest rates hike still possible
The American consumer was not pulling back and neither were the country's businessmen.
"We are on track", Jeffrey Lacker, the president of the Federal Reserve bank of Richmond, told the Wall Street Journal's John Hilsenrath in an interview. That meant a first interest rate increase at the Fed's October policy meeting was possible.
By then rate-setters in the US would have the latest employment and consumption figures under their arm.
In company news, Deere & Co edged 1.50% lower after the tractor maker said it had reached a tentative agreement with the United Auto Workers Union to replace a deal expired on Thursday. Wal-Mart slid 0.88% on news a round of layoffs could get underway as early as Friday, while
Google and Microsoft gained 0.57% and 0.81% respectively after agreeing to dismiss patent-related lawsuits between each other.
Elsewhere, European stocks edge higher, while oil prices fell, with West Texas Intermediate losing 0.30% to $44.96 a barrel, while Brent shed 0.96% to $47.91 a barrel.
The dollar fell 0.17% against the euro and was broadly stable against the pound and the yen respectively, while gold futures edged 0.06% lower to $1,114.41.
S&P 500 - Risers
Williams Companies Inc. (WMB) $38.98 +5.78%
Salesforce.Com Inc. (CRM) $72.90 +5.00%
Edwards Lifesciences Corp. (EW) $149.00 +4.80%
Celgene Corp. (CELG) $112.86 +4.34%
Vulcan Materials Co. (VMC) $92.90 +4.15%
Sherwin-Williams Co. (SHW) $231.87 +4.08%
Allergan plc (AGN) $282.52 +3.94%
Valero Energy Corp. (VLO) $62.24 +3.56%
Marathon Petroleum Corporation (MPC) $47.93 +3.45%
LyondellBasell Industries (LYB) $85.98 +3.14%
S&P 500 - Fallers
Peabody Energy Corp. (BTU) $17.73 -14.35%
Windstream Holdings Inc (WIN) $5.70 -7.17%
CONSOL Energy Inc. (CNX) $9.13 -6.82%
Mattel Inc. (MAT) $19.84 -5.77%
United States Steel Corp. (X) $9.91 -4.89%
Seagate Technology Plc (STX) $42.82 -4.42%
McCormick & Co. (MKC) $78.68 -4.26%
National Oilwell Varco Inc. (NOV) $36.06 -4.22%
Joy Global Inc. (JOY) $14.31 -4.15%
Hudson City Bancorp Inc. (HCBK) $9.76 -4.03%
Dow Jones I.A - Risers
Pfizer Inc. (PFE) $31.84 +1.37%
Home Depot Inc. (HD) $117.05 +1.35%
Goldman Sachs Group Inc. (GS) $176.02 +1.30%
Microsoft Corp. (MSFT) $44.62 +0.81%
JP Morgan Chase & Co. (JPM) $61.42 +0.74%
Nike Inc. (NKE) $123.82 +0.69%
Unitedhealth Group Inc. (UNH) $116.58 +0.49%
Walt Disney Co. (DIS) $102.68 +0.47%
Visa Inc. (V) $69.98 +0.46%
E.I. du Pont de Nemours and Co. (DD) $48.35 +0.31%
Dow Jones I.A - Fallers
Cisco Systems Inc. (CSCO) $25.73 -1.98%
Caterpillar Inc. (CAT) $64.39 -1.48%
Verizon Communications Inc. (VZ) $42.96 -1.26%
Travelers Company Inc. (TRV) $98.34 -1.20%
International Business Machines Corp. (IBM) $143.59 -0.95%
Wal-Mart Stores Inc. (WMT) $64.27 -0.88%
Coca-Cola Co. (KO) $39.80 -0.80%
United Technologies Corp. (UTX) $88.36 -0.71%
3M Co. (MMM) $140.81 -0.68%
Apple Inc. (AAPL) $109.58 -0.65%
Nasdaq 100 - Risers
Verisk Analytics Inc. (VRSK) $78.16 +5.75%
Celgene Corp. (CELG) $112.86 +4.34%
Charter Communications Inc. (CHTR) $181.76 +3.36%
Liberty Media Corporation - Class A (LMCA) $36.87 +3.22%
Vertex Pharmaceuticals Inc. (VRTX) $107.25 +2.99%
Sandisk Corp. (SNDK) $55.91 +2.91%
Mylan Inc. (MYL) $41.41 +2.86%
Netflix Inc. (NFLX) $105.98 +2.63%
Liberty Global plc Series A (LBTYA) $43.96 +2.36%
Tractor Supply Company (TSCO) $85.95 +1.93%
Nasdaq 100 - Fallers
Illumina Inc. (ILMN) $157.21 -10.58%
Mattel Inc. (MAT) $19.84 -5.77%
Vimpelcom Ltd Ads (VIP) $3.91 -4.98%
Seagate Technology Plc (STX) $42.82 -4.42%
Tesla Motors Inc (TSLA) $239.88 -3.43%
Fastenal Co. (FAST) $35.50 -3.03%
Wynn Resorts Ltd. (WYNN) $51.67 -2.73%
Discovery Communications Inc. Class A (DISCA) $25.35 -2.61%
Analog Devices Inc. (ADI) $54.94 -2.61% |
| | 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 | | Friday newspaper round-up: Emerging economies, Syria, Europe Global investors will suck capital out of emerging economies this year for the first time since 1988, as they brace themselves for a Chinese crash, according to theInstitute of International Finance. Capital flooded into promising emerging economies in the years that followed the global financial crisis of 2008-09, as investors bet that rapid expansion in countries such as Turkey and Brazil could help to offset stodgy growth in the debt-burdened US, Europe and Japan. - Guardian Russian jets carried out fresh air strikes against anti-government forces in Syria yesterday and ruled out joining the US-led coalition against the Islamic State of Iraq and the Levant (Isis) as Moscow stepped up its militart intervention. - Financial Times
David Cameron flew back from the Caribbean island of Grenada on Thursday and into the familiar signs of an autumn political storm brewing: the traditional Conservative conference row over Europe. Lord Lawson, the former Tory chancellor, declared that it was "increasingly clear" that the prime minister would fail to deliver any significant reforms in his EU renegotiation, currently moving sluggishly through the machine in Brussels. - Financial Times
The UK's financial watchdog has issued proposals that may enable UK banks to draw a line under the payment protection insurance (PPI) scandal that has cost them billions of pounds in compensation to customers. The Financial Conduct Authority plans to launch a consultation on setting a deadline for PPI complaints, Naomi Rovnick writes. That deadline would fall two years after the rule comes into force which is not anticipated before the spring of 2016. - Financial Times
Worldpay is on track to be Britain's biggest share offering for at least four years. The payments processing group, a former RBS division, formally announced its pricing yesterday, putting a value of between £4.5bn and £5.2bn on it when it floats next month. When debt is considered World Pay's enterprise value could hit as much as £6.7bn. The shares will be priced between 225p to 260p. - The Times
Experian, one of the largest credit agency data brokers in the world, has been hacked. Some 15m people who used the company's services, among them customers of cellular company T-Mobile who had applied for Experian credit checks, may have had their private information exposed, the company confirmed on Thursday. Information from the hack includes names, addresses, and social security, driver's license and passport numbers. The license and passport numbers were in an encrypted field, but Experian said that encryption may also have been compromised. - Guardian
Transport for London's proposed clampdown on Uber could suck public ride-sharing apps into the fray, hurting consumers by adding to travel costs and traffic in the capital, the chief executive of Liftshare has claimed. Ali Clabburn, founder and boss of the car-pooling service Liftshare, said that TfL "could make congestion in London a whole lot worse and make transport unaffordable for a lot of people." - Telegraph
Mike Lynch, the founder of Autonomy, has sued Hewlett-Packard for more than $160m over the allegations of massive fraud it has levelled against him. He challenged Meg Whitman, the Silicon Valley giant's chief executive, to a High Court showdown over the disastrous takeover of the FTSE 100 software company. - Guardian
The Volkswagen emissions scandal has raised fears about a potential hit to investors who bought billions of dollars of bonds from the German carmaker linked to its loans to consumers. Analysts at one of the world's leading ratings agencies said yesterday that they were concerned that bonds linked to the repayment of VW car loans could end up being worth far less than originally thought as the prospect of several million vehicles being recalled risks damaging their resale value. - The Times |
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