| | | | | The Top 10 Stocks for Q4 | | Your guide to the best investments for the new quarter
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.
Get your copy of this report and discover our top picks for the quarter.
Losses can exceed deposits | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks rebound from previous day's low UK stocks rebounded on Tuesday from the previous day's slump driven by further evidence of a slowdown in China's economy.
China's gross domestic product rose 6.9% in the third quarter, down from 7% in the second quarter but better than the 6.8% expected. Industrial production rose 5.7% in September from a year ago, missing estimates for a 6% increase, sending commodity prices lower on Monday.
"Between not being able to trust the GDP data, commodities being hit by industrial production figures, retail sales beating expectations and talk of more monetary stimulus, there wasn't really a clear message to take away," said Craig Erlam, senior market analyst at Oanda.
"Chinese growth remains a very real concern, not just for the country itself but many others in the region that rely on it for trade."
Turning to Tuesday's agenda, the Bank of England's Ian McCafferty, who was the only policymaker to vote in favour of an interest rate hike at the last meeting, is due to speak at 1045 BST. McCafferty believes the BoE should raise rates to allow more room for cuts should the economy crash.
"Mr McCafferty is likely to reiterate his concerns about underlying price pressures and his belief that an immediate hike would increase the likelihood of a gradual path for policy tightening. BoE Governor Carney is also appearing before the Treasury Select Committee this morning although this is likely to focus upon macro-prudential concerns," according to Lloyds Bank analysts.
The US session will include the release of housing starts and building permits figures at 1330 BST while Federal Reserve official William Dudley speaks at 1400 BST in New York. Dudley may provide more thoughts on interest rates ahead of the central bank's policy decision later this month.
Company-wise, mining stocks continued to slide on China concerns including BHP Billiton, Anglo American, Fresnillo and Astrazenca.
Oil producers were also under the cosh, with BP and Royal Dutch Shell among the fallers, after Moody's downgraded its 2016 estimates for Brent and WTI prices.
Intercontinental Hotels surged after posting a rise in third quarter revenue per available room and expressing confidence in the outlook.
Asos climbed after reporting a better-than-expected increase in full-year pre-tax profit, as UK and international sales grew. |
| | 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 |
| | UK Event Calendar | | Tuesday 20 October
INTERIMS
1Spatial, Quantum Pharma, Whitbread
INTERIM DIVIDEND PAYMENT DATE
Graphite Enterprise Trust, John Laing Infrastructure Fund Ltd, Standard Life
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Building Permits (US) (13:30)
Current Account (EU) (09:00)
Housing Starts (US) (13:00)
Producer Price Index (GER) (07:00)
Q3
ARM Holdings, Verizon Communications
FINALS
ASOS
ANNUAL REPORT
Allergy Therapeutics
IMSS
InterContinental Hotels Group
SPECIAL DIVIDEND PAYMENT DATE
Synergy Health
EGMS
RM2 International S.A. (DI)
AGMS
Allergy Therapeutics, Frontier Developments, Mcbride, Scancell Holdings
TRADING ANNOUNCEMENTS
Synety Group
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks waver as investors await fresh catalysts European stocks wavered in quiet trade as investors awaited fresh catalysts.
At 0900 BST, the benchmark Stoxx Europe 600 index was down 0.1%, France's CAC 40 was flat and Germany's DAX was 0.1% higher.
"Markets have opened flat this morning as weak GDP data from China continues to weigh on sentiment," said Andy McLevey, head of dealing at Interactive Investor.
"Investors already have one eye on the ECB meeting on Thursday with hopes of further economic stimulus to come as commodity prices remain under pressure and concerns remain around the growth prospects of the global economy."
On the corporate front, Swedish phone carrier TeliaSonera gained after downgrading its full-year earnings forecasts and reporting a drop in profit, as the results weren't as bad as feared.
Swiss biotechnology company Actelion rallied after it lifted its full-year earnings forecast and posted better-than-expected sales of its new drug to treat pulmonary arterial hypertension.
Whitbread was on the front foot after it showered its shareholders with an extra-large interim dividend as chief executive Andy Harrison oversaw his last set of results for the Premier Inns and Costa Coffee owner, serving up first-half numbers broadly in line with expectations.
InterContinental Hotels rose after posting a rise in third-quarter revenue per available room thanks to encouraging trading trends, and expressing confidence in the outlook.
On the downside, German car maker Volkswagen slipped into the red following reports it may face a fine of as much as €600m in Spain and executives in the country may get a jail term.
The third-quarter Eurozone bank lending survey is at 1200 BST, while US housing starts are at 1330 BST.
Societe Generale expects the lending survey to show buoyant mortgage demand in September, while firms likely had less of an appetite for additional loans.
On housing starts, it said: "Buoyed by unusually warm and arid conditions across the continental US during the reference period, the number of new housing units started likely climbed to a three-month high seasonally adjusted annual rate of 1.165m in September."
Investors will also eye comments from Federal Reserve chairwoman Janet Yellen, who is due deliver brief opening remarks at an induction ceremony. |
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| | US Market Report | | US close: Stocks edge higher after choppy session, oil prices plunge US equities closed a choppy session slightly higher on Monday, as disappointing Chinese data and a series of unimpressive earnings report did little to lift morale among investors, while oil prices tumbled.
Tthe Dow Jones Industrial Average closed up 15 points to 17,230.54, while the S&P 500 and the Nasdaq were one and 24 points lower respectively.
Chinese data disappoints
Asian stocks began the week on a mixed note, as data released on Monday showed the Chinese economy expanded at its slowest pace in six years.
China's National Bureau of Statistics said gross domestic product rose 6.9% in the third quarter compared with 7% in the first two quarters. This was better than the 6.8% forecast by economists but still the worst rate of growth since the first quarter of 2009.
"Today's data suggest that while the official GDP figures continue to overstate the actual pace of growth in China by a significant margin, underlying conditions are subdued but stable," said Julian Evans-Pritchard, China economist at Capital Economics.
"Looking ahead, our view continues to be that stronger fiscal spending and more rapid credit growth will limit the downside risks to growth over the coming quarters."
Meanwhile, Chinese industrial production rose 5.7% in September, missing economists' expectations of a 6% gain, while retail sales were up 10.9%, a touch ahead of the 10.8% increase expected.
Mixed earnings
Among the companies that reported quarterly earnings, Morgan Stanley slumped 4.80% after the banking giant said its third quarter profit fell 40% year-on-year and missed forecasts.
Oil services giant Halliburton slid 1.19% after saying it swung to a third quarter loss driven by asset write-downs and acquisition-related expenses, as its business in North America continued to suffer from sluggish demand.
GoPro jumped 3.93% even though analysts at Wedbush Securities cut its target on the stock from $76 to $50.
Abercrombie & Fitch climbed 2.69% after analysts at Wunderlich Securities upgraded their rating on the stock from 'sell' to 'hold' and lifted their target from $15 to $21, while Urban Outfitters slid 3.75% after the same brokerage downgraded the stock from 'buy' to 'hold'.
There was more positive news for Weight Watchers, which surged 105.01% after popular talk show host Oprah Winfrey announced she bought a stake in the company.
Elsewhere, European stocks edged higher, while oil prices slumped, as West Texas Intermediate shed 3.12% to $45.83 a barrel, while Brent tumbled 3.61% to $48.70 a barrel.
The dollar gained 0.30% and 0.18% against the yen and the euro respectively but fell 0.17% against the pound, while gold futures slid 0.69% to $1,169.20.
S&P 500 - Risers
Peabody Energy Corp. (BTU) $24.00 +5.73%
Keurig Green Mountain Inc (GMCR) $53.10 +4.53%
Micron Technology Inc. (MU) $19.16 +3.57%
Quanta Services Inc. (PWR) $19.31 +3.04%
Priceline Group Inc (PCLN) $1,376.59 +2.99%
Sandisk Corp. (SNDK) $72.00 +2.90%
Netflix Inc. (NFLX) $101.69 +2.73%
Expedia Inc. (EXPE) $130.45 +2.41%
Intuitive Surgical Inc. (ISRG) $478.44 +2.38%
Delta Airlines Inc. (DAL) $50.27 +2.34%
S&P 500 - Fallers
Hasbro Inc (HAS) $72.33 -7.01%
Wynn Resorts Ltd. (WYNN) $68.22 -6.42%
Cimarex Energy Co (XEC) $116.52 -5.24%
Nabors Industries Ltd. (NBR) $10.07 -5.22%
Pioneer Natural Resources Co. (PXD) $133.32 -5.16%
Marathon Oil Corp. (MRO) $18.29 -5.13%
Morgan Stanley (MS) $32.30 -4.86%
Murphy Oil Corp. (MUR) $27.57 -4.77%
Transocean Ltd. (RIG) $15.15 -4.75%
CONSOL Energy Inc. (CNX) $10.50 -4.55%
Dow Jones I.A - Risers
Nike Inc. (NKE) $133.22 +2.11%
Intel Corp. (INTC) $33.60 +1.69%
Visa Inc. (V) $77.00 +1.32%
Walt Disney Co. (DIS) $109.45 +1.12%
Unitedhealth Group Inc. (UNH) $120.74 +0.63%
Apple Inc. (AAPL) $111.73 +0.62%
Boeing Co. (BA) $138.44 +0.61%
Travelers Company Inc. (TRV) $106.38 +0.45%
Procter & Gamble Co. (PG) $75.18 +0.37%
Goldman Sachs Group Inc. (GS) $185.86 +0.37%
Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $81.00 -1.79%
Chevron Corp. (CVX) $90.05 -1.36%
United Technologies Corp. (UTX) $92.05 -1.02%
International Business Machines Corp. (IBM) $149.25 -0.76%
Caterpillar Inc. (CAT) $69.27 -0.59%
3M Co. (MMM) $148.00 -0.47%
E.I. du Pont de Nemours and Co. (DD) $57.08 -0.33%
McDonald's Corp. (MCD) $104.48 -0.32%
JP Morgan Chase & Co. (JPM) $62.23 -0.31%
American Express Co. (AXP) $77.02 -0.25%
Nasdaq 100 - Risers
Keurig Green Mountain Inc (GMCR) $53.10 +4.53%
Micron Technology Inc. (MU) $19.16 +3.57%
Priceline Group Inc (PCLN) $1,376.59 +2.99%
Sandisk Corp. (SNDK) $72.00 +2.90%
Netflix Inc. (NFLX) $101.69 +2.73%
Baidu Inc. (BIDU) $154.68 +2.44%
Expedia Inc. (EXPE) $130.45 +2.41%
Intuitive Surgical Inc. (ISRG) $478.44 +2.38%
Tractor Supply Company (TSCO) $86.97 +2.07%
Regeneron Pharmaceuticals Inc. (REGN) $523.56 +1.74%
Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $68.22 -6.42%
Mattel Inc. (MAT) $23.14 -3.14%
Vimpelcom Ltd Ads (VIP) $4.20 -2.33%
Seagate Technology Plc (STX) $38.75 -2.05%
Illumina Inc. (ILMN) $147.48 -1.82%
Avago Technologies Ltd. (AVGO) $118.96 -1.74%
Viacom Inc. Class B (VIAB) $48.92 -1.67%
CA Inc. (CA) $28.48 -1.52%
QUALCOMM Inc. (QCOM) $59.10 -1.35% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Steel, HSBC, Welfare The crisis in the British steel industry intensified yesterday when one of Britain's largest privately owned companies slumped into administration, putting 1,700 jobs at risk. Caparo, an umbrella of 20 separate businesses mostly in the Black Country but also in Wales and the northeast, founded and led by Lord Paul, the prominent Labour donor, is at the heart of the supply chain for carmakers such as Jaguar Land Rover, Nissan and BMW and also the aero engine maker Rolls-Royce. - The Times
The chairman of HSBC's German division has said that the bank could move its European headquarters from London to Dsseldorf if Britain votes to leave the European Union. Speaking at an industry conference yesterday, Andreas Schmitz, the chairman of the supervisory board of HSBC in Germany, and a director of the country's banking lobby, said that the western German city could become the new home for the lender in the event of Brexit. - The Times
George Osborne is demanding further cuts to welfare spending - including disability benefits - as he looks to protect key aspects of national security in next month's spending review. With some Tory MPs already expressing concerns about the chancellor's plans to cut tax credits by more than 4bn from nxt year, his search for steeper cuts will be contentious. - The Financial Times
The steel industry is expected to suffer another blow on Tuesday, with Tata predicted to announce up to 1,200 job cuts in Scunthorpe and Scotland. The news follows the announcement that the Thai owners of the Redcar steelworks on Teesside, SSI, had gone into liquidation with the loss of 2,200 jobs, while Caparo went into administration on Monday. - The Guardian |
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