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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 rise as Chinese data impresses UK stocks gained on Monday after better-than-expected Chinese data on retail sales and industrial production over the weekend.
Chinese industrial production rose 6.2% in November from a year earlier, compared to the previous month's 5.6% increase and expectations for a 5.7% gain, the National Bureau of Statistics reveal.
Retail sales in the world's second largest economy jumped 11.2% in November, beating the 11.1% forecast and following a 11% rise in October.
"Chinese data over the weekend generally supported the picture of a moderate recovery in the industrial sector fuelled by higher credit growth and a slight improvement in exports," according to Danske Bank.
"While encouraging, we still look for more rate cuts from PBoC to ease the debt burden of Chinese companies."
Turning to Monday's agenda the week has kicked off to a quiet start with very few notable economic reports apart from Eurozone industrial production data at 1000 GMT.
The main event this week is the Federal Reserve's interest rate decision on Wednesday. The Fed is widely expected to raise rates for the first time in nearly a decade by 25 basis points. Tuesday will also be a big day with UK and US inflation figures.
"This time last year we were convinced that the Fed wouldn't raise rates in 2015. We'll it looks like we'll be proved 15 days wrong," Deutsche Bank analysts said.
"However with all that's going on in the world and with global nominal growth so low, it's hard for us to imagine they'll get very far in their hiking cycle."
In company news, Astrazeneca advanced after confirming that it is exploring potential strategic options with biotech company Acerta Pharma BV.
Man Group edged higher after confirming that it was in the process of appointing former trade minister Lord Livingston of Parkhead as its new chairman.
Morrison Supermarkets rallied after announcing Greene King chief executive Rooney Anand will join its board as a non-executive director and as senior independent director on 1 January 2016. |
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| Market Movers
FTSE 100 (UKX) 5,978.31 0.43%
FTSE 250 (MCX) 16,905.98 0.17%
techMARK (TASX) 3,137.02 -0.03%
FTSE 100 - Risers
Old Mutual (OML) 170.60p 9.57%
Mondi (MNDI) 1,308.00p 2.59%
Anglo American (AAL) 300.00p 2.41%
Barratt Developments (BDEV) 605.50p 2.19%
Sainsbury (J) (SBRY) 239.80p 2.04%
Tesco (TSCO) 147.20p 1.97%
Rolls-Royce Holdings (RR.) 561.00p 1.63%
Intu Properties (INTU) 308.50p 1.58%
International Consolidated Airlines Group SA (CDI) (IAG) 574.50p 1.41%
easyJet (EZJ) 1,681.00p 1.39%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 4,033.00p -2.30%
ARM Holdings (ARM) 1,056.00p -1.68%
Shire Plc (SHP) 4,230.00p -1.61%
Standard Chartered (STAN) 490.15p -1.05%
BP (BP.) 334.60p -1.01%
Antofagasta (ANTO) 424.60p -1.00%
Royal Dutch Shell 'B' (RDSB) 1,447.00p -0.89%
Royal Dutch Shell 'A' (RDSA) 1,441.00p -0.86%
Pearson (PSON) 708.50p -0.77%
BHP Billiton (BLT) 689.40p -0.69%
FTSE 250 - Risers
Investec (INVP) 460.10p 9.81%
Drax Group (DRX) 230.20p 8.53%
Petra Diamonds Ltd.(DI) (PDL) 68.45p 4.50%
Premier Oil (PMO) 51.00p 3.34%
Auto Trader Group (AUTO) 435.70p 3.25%
Bellway (BWY) 2,739.00p 2.47%
Redefine International (RDI) 49.71p 2.39%
Polymetal International (POLY) 526.00p 2.33%
International Personal Finance (IPF) 301.90p 1.99%
Riverstone Energy Limited (RSE) 808.00p 1.64%
FTSE 250 - Fallers
Evraz (EVR) 65.00p -5.45%
Acacia Mining (ACA) 170.30p -4.33%
Kaz Minerals (KAZ) 91.60p -3.83%
Ophir Energy (OPHR) 82.85p -3.61%
Vedanta Resources (VED) 280.00p -3.41%
Bovis Homes Group (BVS) 948.00p -2.87%
AO World (AO.) 155.00p -2.45%
Cairn Energy (CNE) 135.20p -2.38%
Aldermore Group (ALD) 207.10p -2.31% |
| | UK Event Calendar | | Monday 14 December
INTERIMS
Premaitha Health
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
GMS
Fondul Proprietatea S.A. GDR (Reg S), Physiomics, Rockhopper Exploration, Societatea Commerciala De Distributie Si Furnizare A Energiei Electrice S.A. GDR (Reg S)
EGMS
PJSC Lukoil B' GDR (144A)
AGMS
Conroy Gold & Natural Resources, Gfinity , Hunter Resources, Inland Homes, Karelian Diamond Resources, Leed Resources, World Careers Network
FINAL DIVIDEND PAYMENT DATE
YouGov |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks push higher as investors look to Fed announcement European stocks pushed higher in early trade, with investors shrugging off a weak Asian session as they looked ahead to this week's Federal Reserve rate decision.
At 0850 GMT, the benchmark Stoxx Europe 600 index was up 0.9%, Germany's DAX was up 0.7% and France's CAC 40 was 1.1% higher.
"The moderate rebound in European equities, while welcome, is less than convincing after last week's dramatic falls and confirms that Wednesday simply can't come soon enough for markets," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"Nervousness around the Federal Reserve decision is reaching a critical point and while most consider a rate rise on Wednesday inevitable, what may be more important is the guidance Janet Yellen delivers on the intended pace and timing of future rate rises."
Oil prices continued to slip after the International Energy Agency said last week that global oversupply could worsen next year.
West Texas Intermediate was down 0.4% to $35.49 a barrel, while Brent crude was 0.3% lower at $37.81.
This week will be crucial as it looks set to mark the first Fed rate hike in almost a decade.
"All signs point to a first move in the Fed's target rate since November 2008," said Societe Generale.
"Efforts will be placed on communication this time around, as the Fed will need to carefully harmonize market expectations with their own forecasts. As we saw with the ECB, it is easy to disappoint, so communication will have to play a key role. Nonetheless, we expect Yellen to strike the right balance."
On the corporate front, Old Mutual and Investec bounced back from heavy losses last week as the rand gained ground following the appointment of a third finance minister in South Africa.
The shares fell sharply last week after finance minister Nhlanhla Nene was sacked, pushing the rand to record lows.
Pharmaceuticals giant AstraZeneca was in the black after confirming that it is exploring potential strategic options with biotech company Acerta Pharma BV.
Vestas Wind rose following the weekend's climate deal, while Nordex also rallied.
Still to come on the data front, investors will look to the release of Eurozone industrial production figures for October at 1000 GMT. |
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| | US Market Report | | US close: Odds of Fed rate hike slip Stocks fell sharply as the slightest of hints from China that it might loosen the link between its currency and the US dollar sent oil crashing lower, weighing on the main equity benchmarks, emerging markets and high-yield US debt.
The Dow Jones Industrials slid 1.76% to 17,726.21, the S&P 500 by another 1.94% to hit 2012.37 and the Nasdaq Compositeby 2.21% to 4,933.47.
MSCI´s Emerging Markets Index ended 5% lower for the week, the S&P 500 off by 3.8% - its worst week since last August - and the US Dollar Index advanced 2.3%.
Chinese central bank rattles markets
In an editorial posted to its website on 11 December, China's central bank said it had begun to estimate the value of the yuan versus a basket of currencies, instead of just the US dollar.
Oil futures took the worst hit, as the news came amid an already weak backdrop in the crude market.
Front month West Texas crude futures slid 3.81% to $35.36 per barrel on the NYMEX.
Earlier in the day, the IEA, the rich world´s oil watchdog, had said OECD oil stocks would continue to rise, albeit far more slowly, until well into 2016.
Probability of Fed rate hike comes down
To take note of, the probability of the Fed hiking rates at its 15-15 December meeting slipped from 80% earlier in the week to 72% on Friday, according to calculations by Bloomberg.
The risk premium on the Markit CDX North American High Yield Index jumped by 36 basis points to 514.52 basis points, its highest since December 2012.
Consumer confidence holding up, analysts say
The University of Michigan's preliminary estimate on the consumer confidence index rose to 91.8 in December from 91.3 in November, below estimates for a reading of 92.
The growth in confidence was attributed to households at the bottom two-thirds of the income ladder and took the yearly average to 92.9, which was the highest level since 2004.
"We feared a weaker reading, following the decline in the Bloomberg consumer comfort index, so we are quite relieved by this report," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
"For the Fed, the aggregate is what counts, and we see nothing here to change our view that both total spending and employment will continue to rise at a robust pace."
Dow Chemical and DuPont slide after announcing tie-up
Alibaba slumped on news it has agreed to buy the South China Morning Post and other media assets of SCMP Group Limited for an undisclosed sum.
Shares in Chipotle Mexican Grill ended lowere even after its chief executive apologised on national television for the company's food safety crisis and said the group was evaluating its procedures.
Dow Chemical and DuPont both tumbled after they agreed to a merger that would create a combined company with a market capitalisation of around $130bn.
S&P 500 - Risers
Whole Foods Market Inc. (WFM) $34.02 +8.59%
Corning Inc. (GLW) $18.68 +5.60%
CSX Corp. (CSX) $25.72 +4.13%
Centerpoint Energy Inc. (CNP) $16.69 +3.41%
Adobe Systems Inc. (ADBE) $91.42 +2.77%
Mattel Inc. (MAT) $26.25 +2.66%
Norfolk Southern Corp. (NSC) $89.44 +2.01%
First Solar Inc. (FSLR) $55.26 +1.67%
Ventas Inc. (VTR) $54.38 +1.40%
Electronic Arts Inc. (EA) $67.17 +1.21%
S&P 500 - Fallers
Southwestern Energy Co. (SWN) $5.90 -13.99%
Williams Companies Inc. (WMB) $26.42 -10.98%
Range Resources Corp. (RRC) $22.75 -10.47%
Cabot Oil & Gas Corp. (COG) $16.10 -8.94%
ONEOK Inc. (OKE) $20.31 -8.92%
Chesapeake Energy Corp. (CHK) $4.16 -8.77%
CONSOL Energy Inc. (CNX) $6.99 -8.03%
Baker Hughes Inc. (BHI) $47.80 -7.51%
Apache Corp. (APA) $42.92 -7.08%
United States Steel Corp. (X) $8.25 -6.57%
Dow Jones I.A - Risers
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $70.44 -5.51%
Chevron Corp. (CVX) $86.44 -3.20%
Goldman Sachs Group Inc. (GS) $176.56 -3.05%
Merck & Co. Inc. (MRK) $52.15 -2.87%
Apple Inc. (AAPL) $113.18 -2.57%
Visa Inc. (V) $76.11 -2.57%
Walt Disney Co. (DIS) $108.04 -2.46%
JP Morgan Chase & Co. (JPM) $64.07 -2.35%
Cisco Systems Inc. (CSCO) $26.16 -2.28% |
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| | Newspaper Round Up | | Monday newspaper round-up: Fosun, Rolls-Royce, RBS Guo Guangchang, the Chinese tycoon caught up in Beijing's anti-corruption drive, has emerged in public for the first time after four days out of sight while assisting a judicial investigation. Mr Guo appeared on stage on Monday to address an annual internal conference of his company, Fosun, but he made no mention of the investigation. - Financial Times
Nationalising Rolls-Royce's nuclear submarine business, which powers the UK's Trident deterrent, is one option under consideration by the government should the crisis at Britain's premier engineering group deepen. David Cameron's office has had plans drawn up to protect UK interests as Rolls-Royce seeks to recover from five profit warnings in less than two years. Other scenarios include a merger of all or part of Rolls-Royce with BAE Systems, the UK's biggest defence group. - Financial Times
Royal Bank of Scotland has become embroiled in another scandal after admitting that it was wrong to deny sitting on almost quarter of a million pounds of customer money. The troubled lender said it had now agreed to return cash to as many as 4,500 customers after apologising to them for the mistake. The controversy is a major blow to chief executive Ross McEwan, who has promised to return customer trust to the largely state-owned bank after a series of mis-selling scandals following on from a financial bailout in 2008. - Guardian
Labour and Liberal Democrat peers are threatening to block George Osborne's plans to water down regulatory powers designed to hold top City bankers to account for banking scandals. Opposition parties want the chancellor to think again about his proposals to unwind tough regulations on banker accountability, introduced by the coalition government only two years ago. - Guardian
The beleaguered education giant Pearson faces a crisis in its British universities business after it imposed steep price rises on academic libraries. A string of leading universities have stopped buying the FTSE 100 company's teaching materials in a row over charges for ebooks, The Daily Telegraph has learned. - Telegraph
Benchmark, the animal food health business, has reeled in the fish nutrition firm INVE Aquaculture for $342m (£225m) after three years of planning. The Aim-listed company said the acquisition will create a global leader in the aquaculture technology market with customers in more than 70 countries. INVE, a Belgian brand, makes health foods and nutrition products for fish and shrimp farms. - Telegraph
Ryanair's use of the world's leading supplier of airline pilots is at the centre of an international investigation into an alleged "especially serious case of tax evasion". British police and German investigators have searched the Surrey headquarters of Brookfield Aviation International, which was claimed to be supplying half of Ryanair's pilots. - The Times
HSBC has held talks with Canadian officials about relocating its headquarters from London to Toronto. Discussions were held in October with senior HSBC directors, including Douglas Flint, the chairman, shortly before the global bank said that it would be delaying its headquarters decision from late this year to early next year. - The Times | | |
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