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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 decline on commodities slump UK stocks declined on Friday morning as commodities reversed the previous day's rally and investors awaited the release of gross domestic product data.
Anglo American, Fresnillo, BHP Billiton and Rio Tinto were the top fallers on the FTSE 100 as metal prices dropped albeit copper rose. Oil prices were also in the red, with Brent crude down 0.86% to $45.07 per barrel and West Texas Intermediate down 0.75% to $42.17 per barrel at 08:54 GMT.
The second estimate of UK GDP from the Office for National Statistics at 0930 GMT is expected to show an annualised 2.3% increase in the third quarter. On a quarter-on-quarter comparison, analysts predict unrevised 0.5% growth between July and September following a 0.7% gain in the second quarter.
"The UK economy is continuing to face a number of headwinds at the moment which are likely to persist into next year, most notably the strong pound and anaemic growth in the Eurozone, it's largest trading partner," said Craig Erlam, senior market analyst at Oanda.
"In the absence of either of these pressures easing, we could see growth remain at these decent, albeit uninspiring, levels in the coming quarters, which explains why the Bank of England is in no rush to raise interest rates. Especially at a time when the euro is depreciating as the ECB looks to ease monetary policy further, a BoE rate hike on top would exacerbate the strong currency issue even further."
Elsewhere, Japanese data overnight showed an unexpected fall in the jobless rate to 3.1% in October from 3.4% the previous month, while the consumer price index rose to 0.3% year-on-year last month from 0%, as anticipated by analysts. However, CPI fell 0.1% year-on-year, as predicted, when stripping out volatile food prices.
Japan's household spending dropped 2.4% in October, compared to forecasts of 0% and September's 0.4% decrease. The reports come amid pressure on the Bank of Japan to increase its bond buying programme in the coming months following prolonged weakness in inflation.
"While Japan's Jobless data improved, inflation showed need for continued BoJ stimulus," said Michael van Dulken and Augustin Eden at Accendo Markets.
The Nikkei 225 fell 0.30% following the data. Chinese stocks were also sitting lower with the Shanghai composite down 5.49%, the largest daily percentage loss since 18 August. The declines in China came as authorities investigated brokerages Citic Securities Co. and Guosen Securities over suspected violations .
Meanwhile, the US stock market reopens but closes early at 1800 GMT. |
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| Market Movers
FTSE 100 (UKX) 6,362.13 -0.48%
FTSE 250 (MCX) 17,175.77 -0.24%
techMARK (TASX) 3,215.22 -0.20%
FTSE 100 - Risers
easyJet (EZJ) 1,637.00p 0.61%
Rolls-Royce Holdings (RR.) 604.50p 0.50%
Severn Trent (SVT) 2,210.00p 0.36%
Relx plc (REL) 1,187.00p 0.34%
Capita (CPI) 1,271.00p 0.32%
Inmarsat (ISAT) 1,091.00p 0.28%
Admiral Group (ADM) 1,605.00p 0.25%
Experian (EXPN) 1,220.00p 0.25%
Dixons Carphone (DC.) 474.90p 0.23%
3i Group (III) 502.00p 0.10%
FTSE 100 - Fallers
Anglo American (AAL) 415.40p -4.68%
Fresnillo (FRES) 733.00p -2.14%
Rio Tinto (RIO) 2,225.50p -2.00%
BHP Billiton (BLT) 817.80p -1.85%
Antofagasta (ANTO) 509.00p -1.64%
Randgold Resources Ltd. (RRS) 4,112.00p -1.53%
Hargreaves Lansdown (HL.) 1,455.00p -1.42%
Standard Chartered (STAN) 558.80p -1.20%
Glencore (GLEN) 94.75p -1.18%
Aberdeen Asset Management (ADN) 339.70p -1.11%
FTSE 250 - Risers
Pennon Group (PNN) 867.50p 3.64%
PayPoint (PAY) 950.00p 2.76%
SVG Capital (SVI) 472.50p 2.70%
Supergroup (SGP) 1,592.00p 1.73%
Saga (SAGA) 216.60p 1.69%
Lookers (LOOK) 171.90p 1.54%
Zoopla Property Group (WI) (ZPLA) 223.00p 1.50%
Keller Group (KLR) 817.00p 1.49%
Betfair Group (BET) 3,648.00p 1.28%
Fidessa Group (FDSA) 1,960.00p 1.19%
FTSE 250 - Fallers
Fidelity China Special Situations (FCSS) 134.30p -3.03%
Ophir Energy (OPHR) 99.00p -2.37%
Just Retirement Group (JRG) 158.10p -2.35%
Weir Group (WEIR) 1,172.00p -2.09%
Jimmy Choo (CHOO) 141.60p -2.01%
Amec Foster Wheeler (AMFW) 430.70p -1.98%
Templeton Emerging Markets Inv Trust (TEM) 417.60p -1.76%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 463.00p -1.70%
Britvic (BVIC) 701.00p -1.68% |
| | UK Event Calendar | | Friday 27 November
INTERIMS
Pennon Group, Real Estate Credit Investments PCC Ltd
INTERIM DIVIDEND PAYMENT DATE
Booker Group, Card Factory, CareTech Holding, Cello Group, Charles Taylor, Edge Performance VCT 'F' Shares, Hilton Food Group, Impellam Group, JZ Capital Partners Ltd, Lookers, Maven Income & Growth VCT, Morgan Advanced Materials , Moss Bros Group, Panther Securities, Prime People, Provident Financial, Toyota Motor Corp., U And I Group
QUARTERLY EX-DIVIDEND DATE
Canadian General Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
GMS
Solgold
FINALS
Future, Patisserie Holdings
SPECIAL DIVIDEND PAYMENT DATE
Card Factory, Prime People
AGMS
Berkeley Energy Limited (DI), Coal of Africa Ltd., Draganfly Investments Ltd., Filtronic, Forte Energy NL, Harvest Minerals Limited (DI), James Halstead, Origin Enterprises, Pan African Resources, Quadrise Fuels International, Range Resources Ltd. (DI), Wildhorse Energy Ltd. (DI)
UK ECONOMIC ANNOUNCEMENTS
Consumer Confidence (09:30)
GDP (output, income & expenditure) (09:30)
GFK Consumer Confidence (00:05)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Aeorema Communications, Animalcare Group, Dunelm Group, El Oro Ltd, Kier Group |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip on negative Asian lead but losses limited European stocks were a little weaker in early trade, taking their cue from a downbeat session in Asia.
At 0850 GMT, the benchmark Stoxx Europe 600 was down 0.4%, Germany's DAX was 0.2% lower and France's CAC 40 was down 0.3%.
Earlier, the Shanghai Composite tumbled 5.5% as it emerged several brokerages in China were being investigated for alleged violation of securities regulations.
However, losses in Europe were limited as sentiment was underpinned by expectations that the European Central Bank will announce further easing measures at its meeting next week.
"With the ECB having stoked expectations about a significant further expansion of its non-conventional operations, we have long held the view that the ECB would, if anything, look to over-, rather than under-deliver at its meeting on 3 December," said BNP Paribas.
Friday's session is likely to be fairly quiet, with thinner volumes than usual as the US market is only open for a half day due to the Thanksgiving holiday.
On Thursday, China's largest stockbroker Citi Securities Co and the country's third largest broker, Guosen Securities, revealed they were being investigated for suspected violations.
Both brokerages said they would cooperate fully with the investigations, adding that there would be no impact on their current operations.
It was also reported that brokerage Haitong Securities was being investigated. It issuing a trading halt after the market opened without citing reasons.
The investigations are part of a broader clampdown on how brokerages finance clients' stock purchases.
Asian markets were also weighed by data showing Japanese inflation fell for the third month in a row in October and figures showing Chinese industrial profits dropped 4.6% in October from a year earlier, marking the fifth consecutive month of decline.
In terms of sector, miners suffered the brunt of the losses, with the Stoxx 600 basic resources index down 1.7%.
Rio Tinto was on the back foot after the miner said it has approved the $1.9bn expansion of its high-quality Amrun bauxite project in Queensland's Cape York Peninsula, with much of the capital expenditure scheduled for 2017 and 2018 and first delivery from 2019. |
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| | US Market Report | | Market Closed due to Thanksgiving Day |
| | We're top of our league | | Enjoy champion support when you invest with The Share Centre. Capital at risk Find out more share.com/supporters |
| | Newspaper Round Up | | Friday newspaper round-up: Hollande/Putin, Portugal, Unilever, RBS Franois Hollande and Vladimir Putin pledged on Thursday to better co-ordinate operations against terrorist groups in Syria but failed to eradicate differences over which groups to target and over the future of Bashar al-Assad. The leaders of France and Russia held more than three hours of talks at the Kremlin focusing on the fate of the Syrian president and on which parts of the armed opposition should be protected from air strikes. The summit was part of Mr Hollande's push for a broader coalition against Islamist radicals Isis after the attacks in Paris a week ago. - Financial Times
Portugal's anti-austerity Left has taken power with the support of Communists and radical forces after eight weeks of bitter wrangling, breaking Germany's grip on economic policy and setting the scene for a bruising fight with Brussels on budget plans. The triumph of the triple-Left alliance under Socialist leadership is a historic moment for the country and implies a sweeping reversal of austerity cuts imposed by the now-departed EU-IMF Troika. - Telegraph
A wave of company failures is "inevitable" in Britain's oil and gas industry, with businesses supporting the wider energy sector the first to fail, according to advisory firm FRP. The prediction comes in the wake of the Autumn Statement, which set out a bleak prediction for future of the North Sea industry with an expected collapse in tax receipts, but offered no relief for the sector. - Telegraph
The government has been forced to deny claims that George Osborne's spending review is a continued assault on Britain's poorest families, after two respected thinktanks warned future benefit cuts would leave some families more than a thousand pounds worse off. Both the Institute for Fiscal Studies and the Resolution Foundation said they believe millions of working families would be worse off by 2020 because of welfare changes than they would have been under the current system, despite Osborne having reversed his planned cuts to tax credits. - Guardian
Unilever, the consumer goods giant, has pledged to eliminate coal from its energy usage within five years, and derive all of its energy worldwide solely from renewable sources by 2030. The company will become "carbon positive" by 2030, through its own use of renewables, and by investing in generating more renewable energy than it needs, selling the surplus on the markets and making it available to local communities in areas where it operates. About 40% of the company's energy use currently comes from green sources. - Guardian
Did you push a shopper to the floor this morning to snatch a cut-price television from their grasp? Perhaps you stayed up all night to nab an early bargain on the web? If not, then you clearly haven't entered into the spirit of Black Friday. The biggest shopping day of the year will result, for the first time, in British consumers spending 1 bn online in 24 hours, analysts said. Hundreds of millions more is expected to be spend in stores. - The Times
Royal Bank of Scotland has been rebuked by a High Court judge for failing to produce evidence in its dispute with shareholders, forcing a delay in a trial over a rights issue. The bank is being taken to court by shareholders over alleged misleading information and omissions in the rights issue prospectus in 2008. The shareholders are claiming 4 billion in compensation from the state-backed bank. - The Times | | |
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