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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 on commodity slump UK stocks opened in negative territory on Monday as a commodity slump continued to provide a drag.
While the week is set to see a raft of important events - including the European Central Bank's policy decision and the US non-farm payrolls report - Monday had a slow start.
The only notable UK release will be figures on mortgage approvals for October at 930 GMT, with the focus on the mining sector.
"Not that the oil and mining stocks are as bad as normal, but rather that with little else on offer, and iron ore falling to a five-month low, the UK index couldn't manage to mitigate its 45 point drop as the day got underway," said Connor Campbell, financial analyst at Spreadex.
Elsewhere, German inflation data is due at 1300 GMT and US pending home sales will be published at 1500 GMT.
Meanwhile, China's yuan is expected to be unveiled this week as the newest member of the group of currencies which the International Monetary Fund includes in its special drawing rights, possibly foreshadowing further weakness in the currency. The IMF was believed to be planning to make the announcement about the Chinese currency on Monday. If the decision went ahead, it would mean that the yuan would reach reserve status some time next year, according to some observers.
On the company front, Cranswick rallied after the food producer reported a 9.9% increase in half year revenue to £529.1m and a 22% jump in pre-tax profit to £31.5m.
Aberdeen Asset Management declined as the investment management group said full year underlying pre-tax profits rose only slightly to £491m from £490m due to the slump in Asian and emerging market equities.
IG Group climbed as it said revenue in the second quarter of the financial year would be slightly ahead of the first, although it is too early to predict how the full year will turn out.
BHP Billiton slid amid news its news joint venture with Vale is expected to be launched today, after two dams were breached at the beginning of the month.
Carillion fell as the support services group has renewed its main revolving bank facility and extended the maturity by nearly three years, from March 2018 to November 2020. |
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| Market Movers
FTSE 100 (UKX) 6,350.78 -0.38%
FTSE 250 (MCX) 17,253.92 -0.06%
techMARK (TASX) 3,221.17 -0.15%
FTSE 100 - Risers
InterContinental Hotels Group (IHG) 2,534.00p 1.81%
ITV (ITV) 271.80p 1.57%
International Consolidated Airlines Group SA (CDI) (IAG) 572.50p 1.33%
easyJet (EZJ) 1,648.00p 0.98%
Intertek Group (ITRK) 2,783.00p 0.98%
Sports Direct International (SPD) 716.50p 0.70%
Carnival (CCL) 3,487.00p 0.69%
Experian (EXPN) 1,230.00p 0.65%
Dixons Carphone (DC.) 484.70p 0.64%
Kingfisher (KGF) 351.70p 0.46%
FTSE 100 - Fallers
BHP Billiton (BLT) 774.70p -4.07%
Aberdeen Asset Management (ADN) 322.10p -3.79%
SSE (SSE) 1,437.00p -1.58%
Glencore (GLEN) 90.44p -1.57%
Standard Chartered (STAN) 549.90p -1.54%
Antofagasta (ANTO) 490.00p -1.35%
Randgold Resources Ltd. (RRS) 3,945.00p -1.30%
Anglo American (AAL) 395.00p -1.29%
Fresnillo (FRES) 706.00p -1.26%
Lloyds Banking Group (LLOY) 72.49p -1.24%
FTSE 250 - Risers
Cranswick (CWK) 1,756.00p 3.29%
Allied Minds (ALM) 436.70p 2.95%
Jimmy Choo (CHOO) 146.20p 2.60%
BGEO Group (BGEO) 1,882.00p 1.73%
IP Group (IPO) 240.50p 1.65%
Zoopla Property Group (WI) (ZPLA) 230.00p 1.55%
Aldermore Group (ALD) 236.50p 1.50%
Croda International (CRDA) 2,811.00p 1.48%
OneSavings Bank (OSB) 377.10p 1.37%
Mitie Group (MTO) 312.60p 1.17%
FTSE 250 - Fallers
Kaz Minerals (KAZ) 95.75p -4.06%
Diploma (DPLM) 687.00p -3.51%
TalkTalk Telecom Group (TALK) 237.00p -2.91%
Tullow Oil (TLW) 192.80p -2.82%
Petra Diamonds Ltd.(DI) (PDL) 56.70p -2.66%
Card Factory (CARD) 355.80p -2.52%
Premier Oil (PMO) 71.80p -2.31%
Pennon Group (PNN) 866.00p -1.93%
Home Retail Group (HOME) 101.60p -1.84% |
| | UK Event Calendar | | Monday 30 November
INTERIMS
Cranswick, Great Eastern Energy Corp Ltd. GDR, KCOM Group, Omega Diagnostics Group
INTERIM DIVIDEND PAYMENT DATE
Action Hotels, BAE Systems, BlackRock Smaller Companies Trust, Bloomsbury Publishing, Capita, ITV, RTC Group, Senior, Trinity Mirror
QUARTERLY PAYMENT DATE
City of London Inv Trust, F&C Commercial Property Trust Ltd., Picton Property Income Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
Pending Homes Sales (US) (15:00)
GMS
All Leisure Group, Ascent Resources, Bango
FINALS
Intelligent Energy Holdings, Quoram
AGMS
Baillie Gifford Japan Trust, Feedback, Ferrum Crescent Ltd NPV (DI), Fidelity Asian Values, Manchester & London Investment Trust, Nyota Minerals Ltd., Petra Diamonds Ltd.(DI), Scotgold Resources (DI), Victoria Oil & Gas
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
FINAL DIVIDEND PAYMENT DATE
Diverse Income Trust (The) |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks in the red as investors look to ECB meeting European stocks were a little weaker in early trade as investors looked ahead to Thursday's rate announcement from the European Central Bank.
At 0840 GMT, the benchmark Stoxx 600 index was down 0.4%, France's CAC 40 was off 0.6% and Germany's DAX was down 0.4%.
European equity markets got a boost last week after ECB chief Mario Draghi indicated that the bank was ready to act to boost inflation.
"This week promises to be a crucial one, not only will the ECB hold its monthly meeting but also Fed chief Yellen will appear on Capitol Hill to testify and on Friday US non-rarm payroll data will be released. Historically the first week of December often turns out to be a mixed bag with a couple of down days usually offering the last opportunity to jump into the market before the year-end rally starts going in earnest," said Markus Huber, senior analyst at Peregrine & Black.
"While almost everybody expects the ECB to take additional extraordinary measures on Thursday to combat low inflation and stimulate Eurozone growth not everybody is convinced that Draghi after preparing the markets for weeks and months can not only deliver but still surprise the markets. "If this would be the case that the market has completely priced in the entire ECB action we would most likely see a classic 'buy the rumour sell the fact' play taking hold."
On the corporate front, BHP Billiton was under pressure after it emerged that Brazilian authorities will demand £3.5bn from the miner, Vale and their Samarco joint venture for the tailings dam burst on 5 November.
Aberdeen Asset Management was in the red after the investment house revealed that its full year profits were hit by a slump in Asia and emerging markets equities.
Dutch insurer Delta Lloyd was also on the back foot after it announced a €1bn rights issue and said it will not pay a final dividend this year.
On the upside, Deutsche Lufthansa rallied after reaching an agreement with trade union Verdi on the wages and pensions of its ground staff and personnel.
Data released earlier showed German retail sales unexpectedly fell in October, missing analysts' expectations.
Retail sales slipped 0.4% compared with forecasts for a 0.4% increase. On the year, they rose 2.1%, falling short of expectations for a 2.9% gain.
Still to come on the macroeconomic front, Chicago PMI is at 1445 GMT while US pending home sales are at 1500 GMT. |
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| | US Market Report | | US close: Stocks mixed on quiet day of Thanksgiving trading US stocks closed on a mixed note on Friday during a half-day of trading for the Thanksgiving holiday.
The Dow fell 0.08% while the Nasdaq rose 0.23% and the S&P 500 increased 0.23%.
Earlier in the session equities were all lower following the sell-off in China as authorities in the nation investigated brokerages Citic Securities Co. and Guosen Securities over suspected violations. The Shanghai index closed down 5.49%, the largest daily percentage loss since 18 August.
However, the market turned around slightly as gains in telecoms, utilities and consumer staples offset a slump in energy stocks.
Meanwhile, with no notable economic data releases out in the US, Black Friday sales were in focus. Spending in the US rose 22% more than they did last year online, according to Adobe Digital Index. However, analysts at SunTrust called Thanksgiving Day shopping in stores "a bust", The Wall Street Journal reported.
IG analyst Alastair McCagi said retailers have swamped newspapers and social media with advertising.
"Traders will be waiting to see who is first to report 'record sales' from today's shopping bonanza," he said. "As ever the devil will be in the detail, and seasoned traders are only too aware that record sales do not automatically translate into record profits."
Target Corp. said Apple iPads were the biggest sellers in stores and online while Wal-Mart said more than 25 million people visited its website and mobile-phone app ahead of Black Friday sales.
Target's shares rose 0.44% but Apple and Wal-Mart were down 0.14% and 0.45%, respectively.
Among other companies, Walt Disney slipped after the media giant said its ESPN sports network lost 3m subscribers over the last 12 months.
KaloBios Pharmaceuticals surged after Martin Shkreli, the group's newly appointed CEO, revealed he has decided to stop lending out shares in the company.
Meanwhile, oil prices were under the cosh with West Texas Intermediate crude down 1.4% to $41.90 per barrel and Brent down 1.02% to $45 per barrel at 1752 GMT.
The dollar continued to strengthen against major currencies. At 1611 GMT, the greenback was up against the yen by 0.16% changing hands at JPY122.77. Concurrently, the pound fell 0.31% against the dollar exchanging at $1.5055, while the euro fell 0.13% to change hands at $1.0596, inching ever closer to parity against the US currency.
Looking to the week ahead, the pace is set to pick up with the release of non-farm payrolls among other important data releases.
S&P 500 - Risers
Kroger Co. (KR) $38.07 +2.42%
Skyworks Solutions Inc. (SWKS) $81.95 +2.04%
Agilent Technologies Inc. (A) $42.14 +1.94%
Rockwell Automation Inc. (ROK) $107.16 +1.93%
Hormel Foods Corp. (HRL) $74.94 +1.89%
Frontier Communications Co. (FTR) $4.99 +1.84%
Endo International Plc (ENDP) $62.06 +1.74%
Brown Forman Corp. Class B (BF.B) $106.76 +1.60%
American Airlines Group (AAL) $41.88 +1.38%
Avago Technologies Ltd. (AVGO) $130.15 +1.37%
S&P 500 - Fallers
Southwestern Energy Co. (SWN) $8.74 -7.22%
Range Resources Corp. (RRC) $28.39 -6.24%
CONSOL Energy Inc. (CNX) $7.57 -5.44%
NRG Energy Inc. (NRG) $11.63 -4.52%
Keurig Green Mountain Inc (GMCR) $50.74 -3.83%
Diamond Offshore Drilling Inc. (DO) $22.34 -3.79%
Ensco Plc. (ESV) $16.71 -3.74%
Murphy Oil Corp. (MUR) $28.32 -3.61%
Marathon Oil Corp. (MRO) $17.47 -3.53%
Hess Corp. (HES) $58.94 -3.19%
Dow Jones I.A - Risers
Verizon Communications Inc. (VZ) $45.33 +0.92%
Goldman Sachs Group Inc. (GS) $190.87 +0.91%
Cisco Systems Inc. (CSCO) $27.41 +0.61%
Merck & Co. Inc. (MRK) $54.01 +0.54%
Microsoft Corp. (MSFT) $53.97 +0.53%
International Business Machines Corp. (IBM) $138.70 +0.51%
Johnson & Johnson (JNJ) $102.45 +0.48%
Visa Inc. (V) $79.91 +0.44%
JP Morgan Chase & Co. (JPM) $67.14 +0.42%
3M Co. (MMM) $158.18 +0.35%
Dow Jones I.A - Fallers
Walt Disney Co. (DIS) $115.31 -2.83%
Chevron Corp. (CVX) $90.38 -0.54%
United Technologies Corp. (UTX) $96.88 -0.40%
Coca-Cola Co. (KO) $43.20 -0.37%
Wal-Mart Stores Inc. (WMT) $60.02 -0.37%
Boeing Co. (BA) $146.99 -0.30%
Caterpillar Inc. (CAT) $71.29 -0.29%
Procter & Gamble Co. (PG) $75.69 -0.28%
E.I. du Pont de Nemours and Co. (DD) $67.11 -0.22%
McDonald's Corp. (MCD) $114.19 -0.18%
Nasdaq 100 - Risers
Nxp Semiconductors Nv (NXPI) $88.53 +4.79%
Illumina Inc. (ILMN) $185.45 +2.77%
Skyworks Solutions Inc. (SWKS) $81.95 +2.04%
Baidu Inc. (BIDU) $204.82 +1.50%
American Airlines Group (AAL) $41.88 +1.38%
Avago Technologies Ltd. (AVGO) $130.15 +1.37%
Liberty Interactive Corporation QVC Group (QVCA) $26.86 +1.36%
Mondelez International Inc. (MDLZ) $44.50 +1.30%
Walgreens Boots Alliance, Inc. (WBA) $84.37 +1.16%
Check Point Software Technologies Ltd. (CHKP) $86.84 +1.14%
Nasdaq 100 - Fallers
Keurig Green Mountain Inc (GMCR) $50.74 -3.83%
Vimpelcom Ltd Ads (VIP) $3.51 -2.50%
Wynn Resorts Ltd. (WYNN) $60.92 -2.14%
Viacom Inc. Class B (VIAB) $51.31 -1.99%
Symantec Corp. (SYMC) $19.55 -1.59%
Whole Foods Market Inc. (WFM) $29.38 -1.54%
Mattel Inc. (MAT) $24.50 -1.27%
Stericycle Inc. (SRCL) $120.90 -1.23%
Garmin Ltd. (GRMN) $37.54 -1.05%
Twenty-First Century Fox Inc Class A (FOXA) $29.62 -0.94% |
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| | Newspaper Round Up | | Monday newspaper round-up: Climate talks, Deutsche Boerse, bank stress tests, Cyber Monday India's prime minister has issued a blunt warning that rich nations still have a moral imperative to lead the fight against global warming, highlighting the challenges facing the UN climate talks starting in Paris on Monday. Weighing into one of the most divisive issues at the talks, Narendra Modi writes in Monday's Financial Times that advanced countries that "powered their way to prosperity on fossil fuel" must continue to shoulder the greatest burden. "Anything else would be morally wrong," he says. - Financial Times
Deutsche Börse is to follow in the footsteps of the London Stock Exchange Group by encouraging investors to trade large blocks of shares hidden from public view without breaching new rules on controversial "dark pools". The operator of Germany's largest stock exchange on Monday will launch an amended form of share "placements" on its public market - a type of order that may only been seen by people involved in similar deals. - Financial Times
The International Monetary Fund is to give the yuan a historic vote of confidence on Monday when it includes the Chinese currency in its elite club of major currencies. The yuan, also known as the renminbi, is widely expected to be added to the IMF's group of international reserve currencies after an IMF meeting held by its managing director Christine Lagarde. - Telegraph
Nissan will begin making its luxury Infiniti cars in Sunderland this week as part of a £250m investment in the factory, a landmark move that heralds a massive triumph for British industry. For the first time, the Japanese carmaker has chosen to build an upmarket model in Europe, a decision that represents a huge vote of confidence in the north-eastern factory, which has become one of the country's biggest manufacturing success stories. - Telegraph
Britain's biggest lenders are braced for a decision by the Bank of England on whether they are strong enough to withstand turmoil in global markets, as Threadneedle Street considers restrictions on their activities to slow down the growth in consumer lending. The results of the annual health check on six banks - Barclays, HSBC, Santander UK, Standard Chartered, Lloyds Banking Group and Royal Bank of Scotland - and Nationwide building society are released on Tuesday and will determine whether the institutions need to tap investors for cash or take other steps to bolster their financial strength. - Guardian
Britain's retailers are hoping the flat reaction to Black Friday on the high street, when shoppers preferred trawling the internet to visiting a department store, will pay off on Cyber Monday as the pre-Christmas discounting spree moves online. Imported from the US like its Black Friday cousin, Cyber Monday is forecast to bring in more than £900m for online retailers - up nearly a third on last year. By the end of Cyber Monday, total sales over the four-day shopping event will surpass £3bn in the UK, some analysts have predicted. - Guardian
The operator of Britain's biggest power station has warned that meeting the nation's electricity needs will be a close-run thing for years as ageing coal plants are retired from service. Dorothy Thompson, the chief executive of Drax, the North Yorkshire power plant that generates 7 per cent of the country's electricity from burning coal and wood, said there was "no question we are getting to a tight situation". - The Times | | |
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