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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: Mining stocks lead FTSE higher amid lack of data London stocks opened on the front foot on Thursday, led by mining stocks, amid no notable economic data releases as traders in the US took a break for Thanksgiving.
Mining stocks including Glencore, Anglo American, Antofagasta and Rio Tinto, topped the FTSE 100 in morning trade as copper prices surged 2.32% on the Comex.
Meanwhile, investors continued to process George Osborne's joint Spending Review and Autumn Statement.
Osborne on Wednesday announced measures to support the housing sector which gave housebuilding stocks a boost. The Chancellor also made a giant U-turn on tax credits and announced an increase in the state pension and a change in NHS finances.
He confirmed the government will deliver a budget surplus of £10bn by 2019/20 and that £12bn of welfare savings would be delivered in full. The government will borrow £8bn less than forecast to reach this goal. Osborne predicted the UK economy will grow by 2.4% in 2015-16, 2.5% in 2016-17 before returning to 2.4% in 2017-18 and 2.3% in 2019-20.
"After George Osborne's Autumn Statement helped the FTSE to some solid housing sector-inspired gains yesterday the UK index will be aiming to continue its crawl back to the 6400 mark this morning," said Connor Campbell, financial analyst at Spreadex.
"Currently up by around 20 points the FTSE, which sees no notable data this Thursday, will be reliant on the performance of its commodity stocks."
Among corporate stocks, Tesco gained after paying $12m to settle one of two class action lawsuits brought by disgruntled US investors who sued over the overstatement of the grocer's 2014 first-half profits.
Telford Homes declined after completing the acquisition of a development site in East London for over £20m.
Paypoint plunged as it reported a 1.4% drop in revenue for the six months to 30 September, to £102.8m.
Daily Mail and General Trust advanced as it sold its online discount business, Wowcher, to a newly formed company controlled by Exponent Private Equity, in which it holds a stake of around 30%. |
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| Market Movers
FTSE 100 (UKX) 6,358.08 0.32%
FTSE 250 (MCX) 17,136.51 0.15%
techMARK (TASX) 3,205.96 0.33%
FTSE 100 - Risers
Glencore (GLEN) 94.02p 3.80%
Anglo American (AAL) 429.55p 2.96%
Antofagasta (ANTO) 512.00p 2.69%
Standard Chartered (STAN) 570.60p 1.67%
Fresnillo (FRES) 732.00p 1.60%
Tesco (TSCO) 171.05p 1.51%
Sainsbury (J) (SBRY) 255.80p 1.35%
Centrica (CNA) 219.00p 1.34%
Johnson Matthey (JMAT) 2,877.00p 1.30%
Rio Tinto (RIO) 2,278.50p 1.29%
FTSE 100 - Fallers
BHP Billiton (BLT) 839.70p -1.62%
National Grid (NG.) 931.00p -1.58%
Sky (SKY) 1,106.00p -1.07%
Aviva (AV.) 511.00p -0.58%
Intu Properties (INTU) 322.00p -0.53%
Persimmon (PSN) 1,827.00p -0.49%
Wolseley (WOS) 3,781.00p -0.45%
Kingfisher (KGF) 347.30p -0.37%
Diageo (DGE) 1,919.50p -0.31%
Hikma Pharmaceuticals (HIK) 2,120.00p -0.28%
FTSE 250 - Risers
OneSavings Bank (OSB) 353.90p 3.69%
Kaz Minerals (KAZ) 92.40p 2.78%
Marston's (MARS) 163.90p 2.76%
Vedanta Resources (VED) 379.70p 2.46%
Petra Diamonds Ltd.(DI) (PDL) 57.20p 2.05%
Supergroup (SGP) 1,596.00p 2.05%
Home Retail Group (HOME) 104.60p 1.95%
Acacia Mining (ACA) 173.20p 1.82%
Circassia Pharmaceuticals (CIR) 278.60p 1.68%
IP Group (IPO) 233.30p 1.66%
FTSE 250 - Fallers
PayPoint (PAY) 870.00p -12.34%
Lancashire Holdings Limited (LRE) 690.50p -8.91%
Diploma (DPLM) 687.50p -2.14%
Atkins (WS) (ATK) 1,541.00p -2.03%
Amec Foster Wheeler (AMFW) 433.10p -1.99%
Zoopla Property Group (WI) (ZPLA) 216.90p -1.72%
NMC Health (NMC) 874.50p -1.69%
Euromoney Institutional Investor (ERM) 910.50p -1.67%
Card Factory (CARD) 355.60p -1.55% |
| | UK Event Calendar | | Thursday 26 November
INTERIMS
Charles Stanley Group, First Property Group, Helical Bar, Latham (James), LondonMetric Property, PayPoint, Severn Trent, Torotrak, ULS Technology
INTERIM DIVIDEND PAYMENT DATE
Centrica
INTERIM EX-DIVIDEND DATE
3i Infrastructure, Amec Foster Wheeler, Anglo Pacific Group, Atkins (WS), Castings, John Laing Environmental Assets Group Limited , Juridica Investments Ltd., Mckay Securities, National Grid, RapidCloud International , SABMiller, Safeland, Walker Crips Group, Wynnstay Properties, Young & Co's Brewery 'A' Shares
QUARTERLY EX-DIVIDEND DATE
Custodian Reit , HICL Infrastructure Company Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
Q3
Arrow Global Group, PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S)
FINALS
Marston's, SSP Group
SPECIAL EX-DIVIDEND PAYMENT DATE
Lancashire Holdings Limited
EGMS
Invista European Real Estate Trust Sicaf, Invista European Real Estate Trust Sicaf, Minera IRL Ltd.
AGMS
City Natural Resources High Yield Trust, CVS Group, IronRidge Resources Limited (DI), JPMorgan Global Convertibles Income Fund Ltd, Netcall, Sarossa , St Ives, Thor Mining
TRADING ANNOUNCEMENTS
Anglo Pacific Group
FINAL DIVIDEND PAYMENT DATE
Mulberry Group, Wetherspoon (J.D.)
FINAL EX-DIVIDEND DATE
CVS Group, Diploma, Downing Three VCT D Share , Downing Two VCT D Share , Euromoney Institutional Investor, JPMorgan Japanese Inv Trust, Northern Venture Trust, Smart (J) & Co., St Ives, Utilitywise plc, Volution Group (WI) |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher in quiet trade as basic resources advance European stocks edged higher at the start of what is likely to be a fairly quiet day's trade, with Wall Street closed for the Thanksgiving holiday, as basic resources lent support.
At 0900 GMT, the benchmark Stoxx Europe 600 index was up 0.6%, Germany's DAX was 0.7% higher and France's CAC 40 was up 0.3%.
The Stoxx 600 basic resources index rallied 1.7% as base metals recovered.
"With the US on holiday and a rate hike priced in to the market for next month, attention lies squarely on the eurozone as investors debate how effective the next round of anticipated monetary easing will be," said Mike McCudden, head of derivatives at Interactive Investor.
"The miners are back in play in early trade but we will have to wait and see if there is momentum here or it's another dead cat. All in all, it looks set to be a fairly lacklustre day on the markets."
On the corporate front, German semiconductor manufacturer Infineon Technologies rallied after it said net profit in the quarter ended September rose 80%.
Daily Mail & General Trust bounced back from heavy falls in the previous session on the back of gloomy guidance. The stock was helped along by a rating upgrade from Societe Generale and news that it will net £29m from the sale of its online discount business, Wowcher.
Severn Trent was also on the front foot after the water utility posted a 2.6% rise in first half profit.
Supermarket chain Tesco was higher after saying it has paid $12m to settle one of two class action lawsuits brought by disgruntled US investors who sued over the overstatement of the grocer's 2014 first-half profits.
On the downside, Remy Cointreau slumped after the French spirits company reported a 7% drop in first half like-for-like operating profit. |
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| | US Market Report | | US close: Plethora of data ahead of Thanksgiving US traders had a plethora of economic data to digest on Wednesday ahead of the Thanksgiving holiday.
The Dow Jones Industrial Average ended 1.2 points up to 17,813.39, while the S&P 500 finished down 0.27 points to 2,088.87 and the Nasdaq closed 13.33 points higher at 5,116.14.
With Wall Street closed on Thursday and trading closing at 1pm Eastern Time on Friday (1800 GMT), investors had plenty to analyse.
According to the Commerce Department, orders for US durable goods increased 3% last month, compared to forecasts for a 1.5% gain. September's 1.2% drop was revised to a 0.8% decrease.
Elsewhere, consumer spending rose 0.1% month-on-month in October compared with a 0.1% increase in September and with analysts' expectations for a 0.3% gain, while personal income rose 0.4% month-on-month in October in line with expectations and up from an upwardly revised 0.2% increase registered in September.
On a core level, which strips out food and energy, the personal consumption expenditure was flat, falling short of the 0.1% reading analysts had expected and lower than an upwardly revised 0.2% gain in the previous month.
Meanwhile, according to the Labor Department, new claims declined by 12,000 to 260,000 in the week to 21 November, compared with analysts' expectations for a 271,000 reading, while the average of new claims over the last four weeks were unchanged at a seasonally adjusted 271,000.
In the US services sector, Markit said its 'flash' estimate of the purchasing managers' index rose from 54.8 in October to 56.1 in November, marking the sharpest rate of growth since April and beating analysts' expectations for a 55.1 reading.
The index was also above the 55.8 average seen since the survey began six years ago and marked the 25th consecutive month of expansion for the services sector in the world's largest economy.
The Commerce Department also revealed new home sales jumped 10.7% last month to a seasonally adjusted annual rate of 495,000, after September's 11.5% tumble was revised down to show a 12.9% slump.
Analysts had expected a 6.8% decline to a 500,000 annual rate, compared with a downwardly revised 447,000 reading in the previous month.
However, the median price of a new home last month slid 8.5% year-on-year to $281,500.
And finally US consumers were slightly more confident than expected in November, data released on Wednesday showed.
The final reading of the University of Michigan index monitoring consumer sentiment was revised upward to show a 91.3 reading compared with initial estimates of a 90.0 reading.
In company news, Pfizer continued to rise after it announced earlier in the week it will combine with Allergan in a $160bn deal, with shares closing up 2.82% to $32.87.
However HP Inc was one of the market's biggest fallers after its fourth quarter earnings results missed analysts' expectations. Its reported earnings of 93 cents per share was much lower than the $1.06 per share posted in 2014.
S&P 500 - Risers
Keurig Green Mountain Inc (GMCR) $52.76 +8.00%
CONSOL Energy Inc. (CNX) $8.00 +6.38%
Deere & Co. (DE) $80.00 +4.79%
Electronic Arts Inc. (EA) $69.51 +3.65%
Alcoa Inc. (AA) $9.41 +3.52%
Hormel Foods Corp. (HRL) $73.55 +3.13%
Qorvo, Inc. (QRVO) $57.34 +2.85%
Allergan plc (AGN) $320.26 +2.84%
Viacom Inc. Class B (VIAB) $52.35 +2.83%
Pfizer Inc. (PFE) $32.87 +2.82%
S&P 500 - Fallers
HP Inc (HPQ) $12.64 -13.66%
Peabody Energy Corp. (BTU) $11.28 -5.21%
NRG Energy Inc. (NRG) $12.18 -3.49%
GameStop Corp. (GME) $36.64 -3.35%
Dow Chemical Co. (DOW) $51.92 -2.74%
Freeport-McMoRan Inc (FCX) $8.10 -2.41%
EQT Corp. (EQT) $58.19 -2.23%
Marathon Oil Corp. (MRO) $18.11 -2.11%
Aetna Inc. (AET) $103.95 -2.01%
NiSource Inc. (NI) $19.14 -1.95%
Dow Jones I.A - Risers
Pfizer Inc. (PFE) $32.87 +2.82%
Nike Inc. (NKE) $134.13 +1.22%
Unitedhealth Group Inc. (UNH) $114.41 +1.08%
Home Depot Inc. (HD) $134.65 +0.79%
Walt Disney Co. (DIS) $118.67 +0.61%
Wal-Mart Stores Inc. (WMT) $60.24 +0.53%
Merck & Co. Inc. (MRK) $53.72 +0.45%
Intel Corp. (INTC) $34.45 +0.26%
Goldman Sachs Group Inc. (GS) $189.15 +0.25%
Caterpillar Inc. (CAT) $71.49 +0.13%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $53.69 -1.03%
General Electric Co. (GE) $30.36 -0.98%
Boeing Co. (BA) $147.43 -0.82%
Exxon Mobil Corp. (XOM) $81.25 -0.77%
Procter & Gamble Co. (PG) $75.90 -0.72%
Apple Inc. (AAPL) $118.03 -0.72%
Verizon Communications Inc. (VZ) $44.92 -0.60%
Travelers Company Inc. (TRV) $114.80 -0.55%
Chevron Corp. (CVX) $90.87 -0.53%
International Business Machines Corp. (IBM) $138.00 -0.43%
Nasdaq 100 - Risers
Keurig Green Mountain Inc (GMCR) $52.76 +8.00%
Vimpelcom Ltd Ads (VIP) $3.60 +6.82%
Tesla Motors Inc (TSLA) $229.64 +5.22%
Electronic Arts Inc. (EA) $69.51 +3.65%
Incyte Corp. (INCY) $115.41 +3.30%
Viacom Inc. Class B (VIAB) $52.35 +2.83%
Mylan Inc. (MYL) $51.80 +2.80%
Monster Beverage Corp (MNST) $156.41 +2.73%
Alexion Pharmaceuticals Inc. (ALXN) $182.24 +2.50%
Illumina Inc. (ILMN) $180.46 +2.37%
Nasdaq 100 - Fallers
Biomarin Pharmaceutical Inc. (BMRN) $96.06 -1.78%
Baidu Inc. (BIDU) $201.80 -1.72%
JD.com, Inc. (JD) $29.99 -1.19%
Wynn Resorts Ltd. (WYNN) $62.25 -1.11%
Microsoft Corp. (MSFT) $53.69 -1.03%
Regeneron Pharmaceuticals Inc. (REGN) $561.69 -1.02%
Texas Instruments Inc (TXN) $57.27 -1.00%
Stericycle Inc. (SRCL) $122.41 -0.96%
Vertex Pharmaceuticals Inc. (VRTX) $131.97 -0.87% |
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| | Newspaper Round Up | | Thursday newspaper round-up: BHP Billiton, HS2, Lloyds Mud from a dam that burst at an iron ore mine in Brazil earlier this month, killing 12 people and polluting an important river, is toxic, the United Nations' human rights agency has said. The statement contradicts claims by Samarco, the mine operator at the site of the rupture, that the water and mineral waste contained by the dam are not toxic. Citing "new evidence", the UN's office of the high commissioner for human rights said in a statement the residue "contained high levels of toxic heavy metals and other toxic chemicals". - Guardian
Lloyds Banking Group will give details today of 1,000 job cuts as part of its drive to reduce its costs. The redundancies are part of the 9,000 roles that, in October last year, Lloyds said it would eliminate, alongside the closure of 200 branches, to take account of more customers using internet banking. Just over 2,300 of those jobs have gone so far. - The Times
Sir Philip Green seems to collect celebrities in the same way that some people collect train numbers or Beatles memorabilia, and now the billionaire behind Britain's best-known fashion empire has put Beyoncé at the top of the list. The retail tycoon, who has been photographed with everybody from George Clooney and Lionel Ritchie to Cheryl Fernandez-Versini and Nicole Scherzinger, has followed his association with Kate Moss last year with a bigger plan to work with the American superstar. - The Times
Banking is reaching its "Uber moment" as technological advances will lead to hundreds of branch closures and a possible halving of people employed in the sector, the former chief executive of Barclays has warned. In a speech reported by Reuters, Antony Jenkins described technology as an "unstoppable force" that would lead to better customer service and a wave of new banks becoming household names. - Guardian
The US on Wednesday accused Syria of buying oil from the Islamist militants of Isis and imposed sanctions on a Syrian businessman it claimed is at the centre of the trade. The US Treasury department also announced sanctions on Cypriot and Russian businessmen who they allege have helped Syria evade international sanctions, including Kirsan Ilyumzhinov, the head of the world chess federation. - Financial Times
The cost of High Speed 2 has risen to more than £55bn, although the controversial rail link between London and the North is one of a host of projects set to share in a 50pc increase of investment in transport infrastructure. Capital spending is to surge to £61bn over the course of the parliament. Money will be spent on schemes including the electrification of the TransPennine, Midland and Great Western lines, almost £5bn for road maintenance and £250m to fix potholes. - Telegraph
The UK could build one of the world's first small modular nuclear reactors in the 2020s, after ministers announced support for the technology through a £250m research package. A competition to identify the "best value small modular reactor design for the UK" will be launched in the new year, which will "pave the way towards building one of the world's first small modular reactors in the UK in the 2020s", the Treasury said. - Telegraph | | |
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