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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 fall as investors weigh earnings London stocks declined on Tuesday as traders sifted through earnings releases.
SABMiller slumped amid news AB INbev is expected to lodge a bid for the brewing company this week as it reported a 9% decline in revenue on a reported basis for the six months to 30 September, reflecting currency headwinds.
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.
Going the other way, 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.
In economic data, 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.
Tuesday's calendar of data otherwise looks relatively empty apart from the Eurozone retail purchasing managers' index and US trade balance.
US Federal Reserve official John Williams, who has called for an interest rate hike this year, will speak in California after the close. The market will be looking to see whether a disappointing US non-farm payrolls report on Friday has changed his mind about the timing of the first interest rate increase in almost a decade. |
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| | Market Movers
techMARK 3,060.44 -0.73%
FTSE 100 6,279.32 -0.31%
FTSE 250 17,084.12 -0.15%
FTSE 100 - Risers 3i Group (III) 493.60p +1.40%
Sainsbury (J) (SBRY) 269.50p +1.09%
Morrison (Wm) Supermarkets (MRW) 170.00p +1.07%
RSA Insurance Group (RSA) 415.20p +0.97%
Tesco (TSCO) 188.15p +0.86%
Persimmon (PSN) 2,068.00p +0.83%
Mondi (MNDI) 1,447.00p +0.77%
InterContinental Hotels Group (IHG) 2,398.00p +0.76%
Aberdeen Asset Management (ADN) 325.20p +0.74%
Inmarsat (ISAT) 988.50p +0.71%
FTSE 100 - Fallers
Glencore (GLEN) 108.90p -5.30%
ARM Holdings (ARM) 944.00p -1.97%
Anglo American (AAL) 569.70p -1.69%
Fresnillo (FRES) 642.00p -1.61%
SABMiller (SAB) 3,708.00p -1.49%
Shire Plc (SHP) 4,541.00p -1.37%
Antofagasta (ANTO) 530.50p -1.30%
Standard Chartered (STAN) 700.90p -1.14%
HSBC Holdings (HSBA) 515.50p -1.11%
Rio Tinto (RIO) 2,290.00p -1.10%
FTSE 250 - Risers
AL Noor Hospitals Group (ANH) 969.50p +5.50%
Greggs (GRG) 1,127.00p +4.74%
Redefine International (RDI) 54.45p +1.97%
Brewin Dolphin Holdings (BRW) 258.10p +1.81%
Circassia Pharmaceuticals (CIR) 295.00p +1.72%
Halma (HLMA) 742.00p +1.64%
PZ Cussons (PZC) 303.70p +1.61%
John Laing Group (JLG) 196.70p +1.13%
Enterprise Inns (ETI) 113.00p +1.07%
Fidessa Group (FDSA) 1,820.00p +1.05%
FTSE 250 - Fallers
Acacia Mining (ACA) 226.80p -12.87%
BTG (BTG) 579.50p -12.59%
Premier Oil (PMO) 75.15p -4.81%
Drax Group (DRX) 252.60p -3.66%
Ophir Energy (OPHR) 95.60p -3.43%
Jimmy Choo (CHOO) 137.70p -2.82%
Betfair Group (BET) 3,280.00p -2.58%
Kaz Minerals (KAZ) 101.90p -2.49%
Millennium & Copthorne Hotels (MLC) 485.20p -2.37%
Vectura Group (VEC) 175.40p -2.01%
FTSE TechMARK - Risers
Spirent Communications (SPT) 77.00p +1.65%
Consort Medical (CSRT) 937.50p +0.81%
Skyepharma (SKP) 346.00p +0.29%
Oxford Biomedica (OXB) 7.76p +0.26%
Dialight (DIA) 665.00p +0.08%
FTSE TechMARK - Fallers
Sepura (SEPU) 173.50p -0.72%
Innovation Group (TIG) 39.25p -0.63%
Oxford Instruments (OXIG) 600.50p -0.50%
SDL (SDL) 366.25p -0.14%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.36 -0.07% |
| | UK Event Calendar | | Tuesday 29 September
INTERIMS
Boohoo.com, Crawshaw Group, e-Therapeutics, Ergomed , GLOBO, Instem, Learning Technologies Group , Outsourcery, People's Operator (The) , Personal Group Holdings, Premier Technical Services Group , Silence Therapeutics, Toumaz Limited, Venture Life Group, Vernalis
INTERIM DIVIDEND PAYMENT DATE
Croda International, Glencore , Puma High Income VCT
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
Business Climate Indicator (EU) (10:00)
Consumer Confidence (US) (15:00)
Economic Sentiment Indicator (EU) (10:00)
FINALS
Earthport, James Halstead, Mysale Group, Netcall, Revolution Bars Group, SCS Group , Wolseley
ANNUAL REPORT
Haynes Publishing Group, Ibex Global Solutions
AGMS
Arcontech Group, Downing Four VCT DSO, Downing Four VCT DSO 'A' Shs, Downing Four VCT DSO 'B' Shs, Jubilant Energy, Kodal Minerals , Meikles Ltd., Mwana Africa, United Carpets Group, Wizz Air Holdings
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
FINAL DIVIDEND PAYMENT DATE
Avarae Global Coins, BHP Billiton, Solid State |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip as rally loses steam and German data disappoints European stocks fell into the red in early trade following strong gains in the previous session, as investors mulled over some disappointing German data.
"Despite Asia moving higher overnight and the US showing a strong close somewhat disappointing German factory orders are dampening the overall positive sentiment a bit," said Markus Huber, senior analyst at Peregrine & Black. "Still, in light of the financial turmoil in recent weeks and concerns about the slowdown in China it doesn't come as too much of a surprise if some of the Eurozone data due to be released in the days and weeks ahead might be showing some temporary weakness and therefore should be already priced into the markets to a huge degree."
Equity markets in Europe racked up solid gains on Monday as investors bet that Friday's weaker-than-expected non-farm payrolls release would push back the timing of a rate hike by the Federal Reserve.
Early on Tuesday, however, the rally ran out of steam. At 0900 BST, the benchmark Stoxx Europe 600 index and France's CAC were both down 0.4%. Germany's DAX underperformed slightly, down 0.6% after data showed industrial orders unexpectedly fell in August.
Figures released by Destatis showed German orders were down 1.8% on the month, compared with expectations for a 0.5% increase. July's drop, meanwhile, was revised down to 2.2% from 1.4%.
On the corporate front, French mobile operator Bouygues Telecom rose 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.
French media group Vivendi rallied after raising its stake in Telecom Italia to 19.9%.
In London, SABMiller fell following a trading update for the six months to 30 September. The company said group net producer revenue rose 4% after a strong second quarter, but dollar fluctuation proved to be a bit of a drag.
Low cost airline Easyjet edged lower despite posting growth in passenger numbers and load factor in September. |
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| | US Market Report | | US close: Stocks finish higher as investors digest services data US shares finished in positive territory on Monday as disappointing services data fuelled hopes the Federal Reserve will keep interest rates unchanged for longer.
The Dow rose 1.84% to 16,776 while the Nasdaq jumped 1.56% to 4,681 and the S&P 500 increased 1.83% to 1,987.
The Institute for Supply Management revealed its US services index declined from 59.0 in August to 56.9 last month, falling below the 57.5 reading analysts had expected. A reading above 50 signals an expansion while a level below indicates a contraction.
Separately, the seasonally adjusted Markit US services PMI fell from 56.1 to 55.1 compared with the 55.6 flash estimate published last week. Analysts had been expecting no change to the initial estimate.
The worse-than-forecast data follows last Friday's weak US non-farm payrolls, which pushed back expectations for an interest rate hike.
"With inconclusive economic data in recent weeks, the Fed is now split on the timing of an interest rate rise," said Dennis de Jong, managing director at UFX.com.
"That situation is unlikely to change in response to today's non-manufacturing figures, which aren't strong enough to sway Janet Yellen and Co. towards a clear decision."
Gains in the US followed a rally in Asian equity markets, boosted by expectations the Chinese government will implement further stimulus measures. European stocks also were firmly in the black.
In company news, American Apparel tumbled after the company filed for bankruptcy earlier on Monday.
Twitter edged higher after the social media company named co-founder and interim chief executive officer Jack Dorsey as permanent CEO.
Apple climbed as the company beat Google to become the world's biggest brand, according to Interband's 2015 Best Global Brands list.The US technology giant was valued at $170bn, a 43% change in value from 2014.
General Electric rose after activist shareholder Nelson Peltz's Trian Fund Management LP said it has accumulated a 1% stake in the group, for a total value of approximately $2.5bn.
Meanwhile, Oil prices rose, with Brent and West Texas Intermediate up 2.4% to $49.36 per barrel and 1.7% up $46.33 per barrel, respectively.
The US dollar strengthened against the euro, the yen and the pound sterling.
S&P 500 - Risers
Denbury Resources Inc. (DNR) $3.20 +13.07%
Micron Technology Inc. (MU) $17.57 +10.43%
Avon Products Inc. (AVP) $3.84 +9.40%
Alcoa Inc. (AA) $10.41 +9.35%
CONSOL Energy Inc. (CNX) $10.75 +9.14%
Peabody Energy Corp. (BTU) $19.72 +8.71%
Mattel Inc. (MAT) $21.62 +8.48%
Marathon Oil Corp. (MRO) $18.05 +8.34%
United States Steel Corp. (X) $11.43 +8.34%
Transocean Ltd. (RIG) $14.69 +8.33%
S&P 500 - Fallers
Edwards Lifesciences Corp. (EW) $149.37 -3.35%
Allergan plc (AGN) $278.58 -3.27%
H&R Block Inc. (HRB) $35.94 -1.72%
Avago Technologies Ltd. (AVGO) $121.22 -1.71%
Alexion Pharmaceuticals Inc. (ALXN) $163.44 -1.58%
Biogen Inc (BIIB) $286.55 -1.31%
Regeneron Pharmaceuticals Inc. (REGN) $473.14 -1.24%
Eli Lilly and Company (LLY) $86.57 -1.09%
Nordstrom Inc. (JWN) $74.34 -1.04%
C.R. Bard Inc. (BCR) $191.46 -0.84%
Dow Jones I.A - Risers
General Electric Co. (GE) $26.82 +5.30%
Caterpillar Inc. (CAT) $69.18 +5.30%
Cisco Systems Inc. (CSCO) $26.85 +4.23%
E.I. du Pont de Nemours and Co. (DD) $51.28 +4.10%
American Express Co. (AXP) $77.30 +3.88%
International Business Machines Corp. (IBM) $149.04 +3.08%
Chevron Corp. (CVX) $84.03 +3.04%
United Technologies Corp. (UTX) $92.26 +2.77%
Verizon Communications Inc. (VZ) $44.00 +2.71%
Intel Corp. (INTC) $31.22 +2.33%
Dow Jones I.A - Fallers
Nike Inc. (NKE) $124.27 -0.75%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $17.57 +10.43%
Mattel Inc. (MAT) $21.62 +8.48%
Netflix Inc. (NFLX) $111.25 +4.84%
Cisco Systems Inc. (CSCO) $26.85 +4.23%
PACCAR Inc. (PCAR) $54.25 +4.21%
Linear Technology Corp. (LLTC) $41.80 +4.11%
Symantec Corp. (SYMC) $20.43 +3.97%
Sba Communications Corp. (SBAC) $109.51 +3.91%
Seagate Technology Plc (STX) $44.84 +3.84%
Bed Bath & Beyond Inc. (BBBY) $59.40 +3.50%
Nasdaq 100 - Fallers
Avago Technologies Ltd. (AVGO) $121.22 -1.71%
Alexion Pharmaceuticals Inc. (ALXN) $163.44 -1.58%
Biogen Inc (BIIB) $286.55 -1.31%
Regeneron Pharmaceuticals Inc. (REGN) $473.14 -1.24%
Nxp Semiconductors Nv (NXPI) $85.30 -0.68%
Tesla Motors Inc (TSLA) $246.15 -0.57%
Vertex Pharmaceuticals Inc. (VRTX) $114.52 -0.57%
Broadcom Corp. (BRCM) $51.05 -0.29%
Whole Foods Market Inc. (WFM) $33.84 -0.24%
Sandisk Corp. (SNDK) $59.47 -0.18% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Banks, Symphony, Brexit Britain's biggest banks have lent more than $5bn to the world's most active commodity traders, raising fears that they could suffer big losses if the falling price of natural resources sparks a crisis at one of the companies. More than half of the leading banks' exposure to commodities is through loans to Glencore, the debt-laden mining group and commodity trader whose shares have suffered sharp swings since a leading analyst warned that they could be worthless. - The Times
A secure messaging service backed by some of Wall Street's biggest banks is set to receive an investment from Google in a funding round that values the start-up at $650m. Google will join Goldman Sachs, Bank of America, JP Morgan, Morgan Stanley, Nomura, Wells Fargo and other banks as backers of Symphony, which allows financial firms, corporate customers and individuals to put their digital communications on to one platform - The Times
The government must bring forward the referendum on EU membership to next year or it will risk an accidental Brexit from voters using the poll to take an anti-government line, warns one of Britain's leading business groups. On Tuesday, the Institute of Directors (IoD) said Britain leaving the EU is "at least a 50-50 possibility", and will use its annual convention to urge prime minister David Cameron not to wait until 2017 to hold the vote. - The Guardian
China must consign its three decades of "extraordinarily rapid growth" to the past if the economy is to avoid a hard landing, according to the International Monetary Fund. The Fund said downside risks in the world's second largest economy had risen in recent months, but urged China not to use debt-financed investment to boost growth. - The Daily Telegraph
Revenue at PwC, one of the world's biggest accountancy firms, exceeded $35bn for the first time as the business added a record number of staff. PwC's income rose by 10% to $35.4bn for the year to the end of June as the company benefited from global growth, particularly in North America, the Middle East and Africa. The surge led PwC to hire 53,000 new employees, including 24,600 graduates, as its workforce grew by 6% to 208,000, despite fears over the global economy. - The Times |
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