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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: UK market reopens in positive territory after Christmas The FTSE gained on Tuesday as the UK market reopened for trading after the Christmas break.
With little in the way of economic data or company news, the focus will likely be on commodities. At 0848 GMT Brent crude ticked up 0.2% to $36.72 per barrel and West Texas Intermediate rose 0.3% to $36.93 per barrel.
Metal prices also advanced with gold up 0.37%, silver up 0.34% and copper up 1.92% on the Comex.
Meanwhile, the floods across the UK may affect trading, according to Spreadex financial analyst Connor Campbell.
"With estimates suggesting a cost of £5 billion-plus, the tragic flooding of the past few weeks could have a destabilising effect on the FTSE this Tuesday, especially with thin trading volumes and little economic data to distract investors," he said.
In England and Wales there are nine severe flood warnings , mostly in York which was hit by flooding on Saturday.
In China, the central bank's deputy governor Pan Gongsheng will replace Yi Gang as head of the State Administration of Foreign Exchange while keeping his role at the central bank, Caixin magazine reported.
On the company front, Dairy Crest gained as it confirmed it had completed the sale of its Dairies operations to Müller UK & Ireland Group.
Mining stocks were the biggest fallers, including Anglo American, Fresnillo and Rio Tinto, while housebuilders Persimmon and Berkeley Group rallied. |
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| | Market Movers
FTSE 100 (UKX) 6,274.50 0.32%
FTSE 250 (MCX) 17,488.30 0.42%
techMARK (TASX) 3,244.05 0.74%
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 2,322.00p 3.15%
Persimmon (PSN) 2,022.00p 2.48%
Relx plc (REL) 1,207.00p 2.29%
Berkeley Group Holdings (The) (BKG) 3,691.00p 2.16%
BT Group (BT.A) 475.95p 1.91%
Compass Group (CPG) 1,182.00p 1.90%
Hargreaves Lansdown (HL.) 1,510.00p 1.89%
Smith & Nephew (SN.) 1,194.00p 1.79%
Wolseley (WOS) 3,741.00p 1.60%
National Grid (NG.) 949.00p 1.50%
FTSE 100 - Fallers
Anglo American (AAL) 314.60p -4.10%
BP (BP.) 357.70p -2.25%
RSA Insurance Group (RSA) 423.00p -1.83%
Pearson (PSON) 754.50p -1.76%
Antofagasta (ANTO) 457.00p -1.21%
Royal Dutch Shell 'A' (RDSA) 1,539.50p -1.12%
Royal Dutch Shell 'B' (RDSB) 1,555.00p -1.02%
Standard Chartered (STAN) 583.20p -0.98%
Rio Tinto (RIO) 1,988.50p -0.90%
Rolls-Royce Holdings (RR.) 590.00p -0.84%
FTSE 250 - Risers
Allied Minds (ALM) 405.00p 4.65%
Genus (GNS) 1,596.00p 2.64%
Aldermore Group (ALD) 234.40p 2.36%
Vesuvius (VSVS) 353.60p 2.14%
Redrow (RDW) 471.90p 2.10%
Crest Nicholson Holdings (CRST) 556.50p 2.02%
Bovis Homes Group (BVS) 1,009.00p 1.97%
Shawbrook Group (SHAW) 347.50p 1.97%
Bellway (BWY) 2,784.00p 1.90%
Worldwide Healthcare Trust (WWH) 1,970.00p 1.81%
FTSE 250 - Fallers
Evraz (EVR) 73.80p -2.70%
Tullow Oil (TLW) 174.50p -2.40%
Jardine Lloyd Thompson Group (JLT) 927.50p -2.32%
Petrofac Ltd. (PFC) 793.50p -1.86%
Serco Group (SRP) 100.00p -1.77%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 448.10p -1.65%
PayPoint (PAY) 930.00p -1.59%
AA (AA.) 310.10p -1.52%
Vedanta Resources (VED) 279.90p -1.44%
Debenhams (DEB) 73.15p -1.28% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise in holiday-thinned trade European stocks rose in early trade, supported by modest gains in Asia.
At 0900 GMT, the benchmark Stoxx Europe 600 index was up 0.7%, Germany's DAX was 1.3% higher and France's CAC 40 was up 1.1%.
China's Shanghai Composite closed up 0.9% on Tuesday, bouncing back from a 2.6% drop in the previous session, after the People's Bank of China signalled that it may take steps to maintain credit growth and smooth volatility in the renminbi.
"A slow start to the session in Europe today with volumes still on the low side. Asian markets were pretty subdued and we continue to see a higher year end close for European markets from current levels," said Atif Latif, director of trading at Guardian Stockbrokers.
"With many investors still away till the New Year, volumes will remain low but we see more money flowing into equities as more inflows should be the theme after a lacklustre performance for European equities in 2015."
Deutsche Bank shares rose after it agreed to sell its stake in Chinese lender Hua Xia for up to €3.7bn in an effort to strengthen its balance sheet.
Adidas was also in the black after the sports retailer's finance chief, Robin Stalker, denied claims that it was facing pressure from activist shareholders to offload more assets.
In commodity markets, oil prices stabilised after heavy falls on Monday, with West Texas Intermediate up 0.5% at $37.01 and Brent crude 0.6% higher at $36.85.
There are no major UK data releases due, but in US, the goods trade balance is at 1330 GMT, while S&P/Case-Shiller house prices are at 1400 GMT and consumer confidence is at 1500 GMT. |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Cairn Energy, Intel, British manufacturing The chief executive of Cairn Energy has written to India's prime minister seeking a resolution to a bitter $1.6 billion tax dispute. Simon Thomson has told Narendra Modi that the dispute between Cairn and the Indian government has been dragging on for two years, forcing the company to sell assets, delay investment and slash its workforce by 40 per cent. - The Times
Wealthy buy-to-let landlords could be excluded from the higher rate of stamp duty on second homes under proposals to classify them as "large scale investors". The chancellor unveiled a 3 per cent stamp duty surcharge on second home purchases in the autumn statement, but carved out an exemption for "corporates and funds", such as companies, pension schemes and property investment trusts. - The Times
Intel's $16.7bn purchase of programmable chipmaker Altera is likely to be a model for future big acquisitions at the company as the semiconductor industry's merger boom continues, according to the US company's chief dealmaker. The acquisition, which was completed on Monday, is the biggest undertaken by Intel and marks an acceleration in its efforts to move beyond the shrinking PC business. - Financial Times
Deutsche Bank is to sell its stake in the Chinese lender Hua Xia for up to €3.7bn as Germany's biggest bank steps up efforts to strengthen its balance sheet under John Cryan. Regulators around the world have been pushing global banks like Deutsche to hold more capital to avoid a repeat of the 2008 financial crisis. The German bank historically operated with higher debt levels than most rivals. - Financial Times
Volkwagen's flagship Audi division has reined in its spending plans for 2016 in the wake of the scandal over rigging emissions tests. The German car giant also said on Monday it would be delaying the construction of a new wind tunnel. - Telegraph
The cost of flooding will breach the £5bn barrier, according to new estimates, as homes and businesses across the North of England continue to sustain damage from the rising waters. The forecast from accountancy firm KPMG follows three days of flooding, with large areas of Northern England, from Hull to Lancashire, affected. York, which has been hardest hit by flooding, after the River Foss broke its barriers, is likely to represent a significant proportion of the upcoming insurance claims. - Telegraph
The masters of the investment banking universe have pushed the global corporate spending spree to $5.02 trillion (£3.37 trillion) in 2015 making it a record year. That is bigger than the previous record of $4.81 trillion in 2007, immediately before the financial crisis struck. The increase was driven by mega-mergers - there were 67 deals worth $10bn or more each, totalling $1.9 trillion, more than double the value seen in 2014. - Telegraph
British manufacturers will shed tens of thousands of jobs next year as they battle a tough export market, the fallout from steel plant closures and a collapse in demand from the embattled North Sea oil industry, an industry group has forecast. The manufacturers' organisation EEF said the factory sector will shrug off this year's recession and eke out modest growth in 2016 but it warned a number of risks loom on the horizon, chief among them a sharper downturn in China that could trigger a global slump. - Guardian
Saudi Arabia has announced plans to cut government spending and reform its finances after plunging oil prices resulted in a record annual budget deficit of nearly $98bn (£66bn). The state ran a deficit of 367bn riyals ($97.9bn) in 2015, or 15% of gross domestic product, officials said. The 2016 budget plan aims to cut that to 326bn riyals, reducing pressure on Riyadh to pay its bills by liquidating assets held abroad. - Guardian |
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