| | | | | The Top Stock Picks for 2016 | | Who should you consider for the year ahead? This report has us take a look at some of the hottest prospects for the coming 12-months, helping you navigate the markets successfully in order to capitalise on the attractive volatility on offer. Get your copy of The Top Stock Picks for 2016 and start this New Year fully prepared. Losses can exceed deposits | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks slip on China and oil price worries UK stocks fell on Thursday as concerns over China's troubles escalated and as oil prices collapsed.
Chinese trading in mainland markets was halted for the day after shares fell more than 7% for the second time this week.
The country's "circuit-breaker" rule kicked in the first 30 minutes of trading, making it the shortest ever trading day.
"Combine China's current chaos with the backbone-less (and China-exacerbated) performance from Brent Crude (which, after falling 6% yesterday, has collapsed by a further 4.5% this morning to hit a fresh 11 year low) and the global indices have been left in the midst of what is arguably their most calamitous week since the storied trading of last August," said Connor Campbell, financial analyst at Spreadex.
At 0901 GMT, Brent crude fell 3.7% to $33.01 per barrel and West Texas Intermediate dropped 4.2% to $32.58 per barrel.
On the macro-economic data front, German factory orders rose 2.1% in November compared to a year ago, beating expectations for a 1.1% increase.
German retail gained 2.3% year-on-year in November, trailing estimates for a 3.7% jump.
UK house prices rose more than forecast in December, rising 1.7% from a month ago, compared to estimates of 0.5%.
Still to come, a batch of Eurozone reports are due including on retail sales, consumer confidence and unemployment. In afternoon trade, US initial jobless claims are due.
In company news, Marks & Spencer gained after reporting a mixed trading statement and saying chief executive Mark Bolland will retire this year and hand the baton to well-regarded merchandise chief Steve Rowe.
Mining stocks were under pressure on China woes, including Anglo American, BHP Billiton, Glencore and Rio Tinto.
Oil producers were also under the cosh on the price slump, including Royal Dutch Shell, BG Group, Tullow Oil and Nostrum Oil & Gas.
HSBC rebounded after receiving a downgrade from JP Morgan to 'underweight' from 'neutral'. |
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| Market Movers
FTSE 100 (UKX) 5,902.86 -2.81%
FTSE 250 (MCX) 16,680.42 -2.22%
techMARK (TASX) 3,132.78 -2.19%
FTSE 100 - Risers
Marks & Spencer Group (MKS) 444.40p 1.30%
Randgold Resources Ltd. (RRS) 4,340.00p 0.28%
Next (NXT) 6,835.00p -0.44%
SABMiller (SAB) 4,040.00p -0.66%
Imperial Tobacco Group (IMT) 3,575.00p -0.76%
National Grid (NG.) 940.80p -0.97%
Hammerson (HMSO) 585.00p -1.10%
Reckitt Benckiser Group (RB.) 6,030.00p -1.18%
Whitbread (WTB) 4,147.00p -1.26%
Persimmon (PSN) 1,938.00p -1.37%
FTSE 100 - Fallers
Anglo American (AAL) 244.90p -9.43%
Glencore (GLEN) 80.15p -6.64%
Antofagasta (ANTO) 406.70p -6.23%
BHP Billiton (BLT) 666.10p -6.10%
Aberdeen Asset Management (ADN) 254.30p -5.81%
Royal Dutch Shell 'A' (RDSA) 1,411.00p -5.78%
BG Group (BG.) 900.60p -5.74%
Royal Dutch Shell 'B' (RDSB) 1,421.00p -5.52%
Old Mutual (OML) 154.90p -5.43%
Rio Tinto (RIO) 1,748.50p -5.31%
FTSE 250 - Risers
Wetherspoon (J.D.) (JDW) 729.00p 1.18%
Millennium & Copthorne Hotels (MLC) 452.00p 0.58%
John Laing Infrastructure Fund Ltd (JLIF) 116.50p 0.09%
Jimmy Choo (CHOO) 131.00p 0.00%
Euromoney Institutional Investor (ERM) 1,023.00p 0.00%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 441.00p 0.00%
P2P Global Investments (P2P) 995.00p 0.00%
Perpetual Income & Growth Inv Trust (PLI) 406.00p 0.00%
Scottish Inv Trust (SCIN) 581.00p 0.00%
Caledonia Investments (CLDN) 2,358.00p 0.00%
FTSE 250 - Fallers
Poundland Group (PLND) 175.90p -8.39%
Tullow Oil (TLW) 140.00p -8.32%
Amec Foster Wheeler (AMFW) 395.60p -7.07%
Vedanta Resources (VED) 242.00p -6.99%
Evraz (EVR) 66.45p -6.47%
Fidelity China Special Situations (FCSS) 130.50p -5.71%
Nostrum Oil & Gas (NOG) 356.90p -5.71%
AO World (AO.) 139.60p -5.68%
Ophir Energy (OPHR) 86.95p -5.59% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide on weak China cues as oil prices keep tanking European stocks slid in early trade following another dismal performance in China, where trading was halted again after the CSI300 fell more than 7%, setting off the market's circuit breakers for the second time this week.
At 0900 GMT, the benchmark Stoxx Europe 600 index was down 2.6%, Germany's DAX was 3.3% lower and France's CAC 40 was off 2.8%.
Stocks in Asia were under pressure as concerns about economic growth in China continued to rattle investors after the People's Bank of China guided the yuan lower again. The PBoC set the yuan's midpoint at 6.5646 to the dollar, which was 0.5% lower than Wednesday's fix.
"Not only was this the biggest drop between daily fixings since the 3% devaluation in August, but it is also marked the yuan's lowest level against the US dollar for three and a half years," said David Morrison, market analyst at SpreadCo.
As China woes intensified, basic resources - which are highly dependent on Chinese demand - came under pressure, with the Stoxx 600 index for the sector down a whopping 5.4%.
Energy-related stocks were also firmly under the cosh, with the sub-index for oil and gas 4.5% lower as oil prices continued to slide amid worries about oversupply. West Texas Intermediate was down 4.7% to $32.38 a barrel and Brent crude was 4.8% weaker at $32.58.
In corporate news, beleaguered German car maker Volkswagen was in the red following a report by German newspaper Sueddeutsche Zeitung suggesting the company may have to buy back 115,000 cars in the US due to the emissions scandal.
London-listed retailer Marks and Spencer edged higher after announcing that its chief executive Marc Bolland will step down this year.
Pandora was also in the black after the Danish jewellery retailer said it plans to open 200 to 300 stores a year between 2016 and 2018, as it reported a 40% jump in 2015 sales.
Earlier, data from Destatis showed German manufacturing orders rose more sharply than expected in November.
Orders were up a seasonally-adjusted 1.5% on the month compared with economists' expectations for a 0.3% increase.
Domestic orders were 2.6% higher while foreign orders rose 0.6% on the previous month.
New orders from the euro area were down 0.5% on the previous month, while new orders from other countries increased 1.4%. |
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| | US Market Report | | US close: Stocks drop amid sliding oil prices and geopolitical tensions US stocks fell on Wednesday as geopolitical tensions, growing concerns about China and a slide in oil prices left investors jittery.
The Dow Jones Industrial Average ended down 1.5%, the Nasdaq fell 1.1% and the S&P 500 closed down 1.3%.
Worries in Asia escalated after North Korea said it had successfully carried out an underground hydrogen bomb test. The news came after a 5.1 magnitude tremor was detected close to the nuclear test site at Punggye-ri, which monitors said was unlikely to be natural.
Meanwhile, concerns about China's economic slowdown showed no signs of abating after services data missed expectations.
Caxin's China services purchasing managers index fell to 50.2 in December from 51.2 the previous month, although it was above the 50 level that separates expansion from contraction. The report followed weak manufacturing data on Monday.
Sentiment was also dented by news that the People's Bank of China set a weaker midpoint for the yuan, adding to concerns about the health of the world's second-largest economy.
Oil prices tanked on Wednesday, meaning energy-related shares were among the biggest losers.
West Texas Intermediate crude plunged 5.5% to $33.98 per barrel, while Brent slid 5.9% to $34.29, having hit lows not seen since 2004.
"I think this is a knock-on effect from the likelihood that the geopolitical tensions between Saudi Arabia and Iran have put an end to hopes on a deal on OPEC oil production," said James Hughes, senior market analyst at GKFX.
"If you then add this to the fact that we have had relentless bad news out of china, including last night's currency slip then the snowball effect is in full swing. These issues have pushed Nymex crude lower and due to the near non-existent spread between Brent and Nymex now means that Brent gets hit just as hard an breaks key levels at the same time. The events in North Korea have only added to further downward pressure, with the words nuclear explosion and markets never mixing too well together."
Market participants also had a raft of US data to sink their teeth into.
According to private consultancy ADP, US employers added 257,000 jobs in December compared with a downwardly-revised tally of 211,000 jobs in October and expectations for a 200,000 gain. The report came ahead of the official monthly non-farm payrolls figures on Friday.
Markit's US PMI was revised higher to 54.3 in December from 53.7, beating forecasts for a reading of 54.
Mortgage applications in the US fell 11.6% in the week to 1 January, according to the Mortgage Bankers' Association.
Meanwhile, the Commerce Department revealed that goods manufactured in US factories dropped by 0.2% in November, while the Institute for Supply Management's services index slipped 0.6 points to 55.3 last month compared with expectations for a reading of 56.3.
As well as the data, investors mulled over the minutes from the latest Federal Reserve meeting, which showed that for some members, the decision to hike interest rates for the first time in nearly a decade was a "close call".
Comments from Fed vice chairman Stanley Fischer were also in focus, after he told CNBC on Wednesday that the market's expectations that the central bank will only raise interest rates twice in 2016 are too low.
The Fed sees four rate hikes this year but Fischer said this was more "in the ballpark", adding that it will depend on economic developments. "We don't know enough now to know how many (rate hikes) there will be," he said.
In corporate news, Apple was on the back foot after reports late on Tuesday that it plans to scale back production of iPhones, partly reflecting recently lower than expected sales.
Pioneer Natural Resources also fell after it announced a 10.5m share offering.
Chipotle Mexican Grill was under pressure again after it received a federal grand jury subpoena as the government investigates the norovirus outbreak at one of its California restaurants.
In addition, the company announced that sales at restaurants open at least one year dropped 30% in December after E. coli and norovirus outbreaks.
Shares in AutoNation plunged after the car retailer said it had to offer large discounts in December, and that it will report a smaller profit per vehicle in the fourth quarter.
Netflix bucked the trend, however, surging after announcing the launch of its platform in 130 new countries.
In currencies, the dollar rose 0.3% against the pound, but fell 0.3% and 0.5% versus the euro and the yen respectively.
S&P 500 - Risers
Netflix Inc. (NFLX) $117.69 +9.32%
Time Warner Inc. (TWX) $68.70 +4.85%
Reynolds American Inc. (RAI) $47.75 +2.53%
Hasbro Inc (HAS) $69.82 +2.41%
Regeneron Pharmaceuticals Inc. (REGN) $519.46 +2.06%
Equinix, Inc. (EQIX) $309.13 +1.89%
American Airlines Group (AAL) $41.23 +1.75%
Signet Jewelers Ltd (SIG) $127.24 +1.32%
Waste Management Inc. (WM) $53.30 +1.23%
Dr Pepper Snapple Group Inc. (DPS) $94.49 +1.20%
S&P 500 - Fallers
Williams Companies Inc. (WMB) $22.98 -12.72%
Southwestern Energy Co. (SWN) $6.68 -12.61%
Marathon Oil Corp. (MRO) $11.27 -11.68%
Apache Corp. (APA) $38.53 -11.49%
CONSOL Energy Inc. (CNX) $7.57 -11.25%
Murphy Oil Corp. (MUR) $20.12 -10.93%
AutoNation Inc. (AN) $50.86 -10.36%
Anadarko Petroleum Corp. (APC) $43.82 -9.69%
Ensco Plc. (ESV) $13.50 -9.34%
Diamond Offshore Drilling Inc. (DO) $18.99 -8.73%
Dow Jones I.A - Risers
Wal-Mart Stores Inc. (WMT) $63.62 +1.11%
Dow Jones I.A - Fallers
Chevron Corp. (CVX) $86.17 -3.84%
American Express Co. (AXP) $64.41 -3.22%
United Technologies Corp. (UTX) $93.20 -2.63%
Goldman Sachs Group Inc. (GS) $170.00 -2.35%
Intel Corp. (INTC) $33.07 -2.25%
Verizon Communications Inc. (VZ) $45.53 -2.09%
3M Co. (MMM) $144.50 -2.01%
Apple Inc. (AAPL) $100.70 -1.96%
Microsoft Corp. (MSFT) $54.05 -1.82%
Pfizer Inc. (PFE) $31.64 -1.68%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $117.69 +9.32%
Regeneron Pharmaceuticals Inc. (REGN) $519.46 +2.06%
American Airlines Group (AAL) $41.23 +1.75%
eBay Inc. (EBAY) $26.41 +1.11%
Gilead Sciences Inc. (GILD) $100.31 +1.06%
Dollar Tree Inc (DLTR) $80.56 +0.73%
Citrix Systems Inc. (CTXS) $73.99 +0.60%
Twenty-First Century Fox Inc Class A (FOXA) $26.72 +0.49%
Keurig Green Mountain Inc (GMCR) $90.26 +0.40%
Intuit Inc. (INTU) $96.33 +0.40%
Nasdaq 100 - Fallers
Lam Research Corp. (LRCX) $73.56 -5.87%
Skyworks Solutions Inc. (SWKS) $69.15 -5.65%
Wynn Resorts Ltd. (WYNN) $66.44 -5.18%
Vimpelcom Ltd Ads (VIP) $3.24 -4.99%
Seagate Technology Plc (STX) $34.75 -4.35%
Analog Devices Inc. (ADI) $51.73 -4.27%
Nvidia Corp. (NVDA) $31.53 -4.13%
Applied Materials Inc. (AMAT) $17.73 -4.11%
Bed Bath & Beyond Inc. (BBBY) $47.03 -4.10% |
| | The Top Stock Picks for 2016 | | Who should you consider for the year ahead? With 2015 a notably volatile year and many a stock now trading at heavily discounted levels, we’re approaching what could be a turning point. Not only do we have a couple of potentially exciting drivers moving forward, we’ve also got some very reasonably priced stocks. That’s what makes 2016 a real year of opportunity. Download The Top Stock Picks for 2016 and discover our selection of stocks to watch in 2016. Losses can exceed deposits |
| | Newspaper Round Up | | Thursday newspaper round-up: Osborne, World Bank, Sainsbury's George Osborne is warning that 2016 could mark "the beginning of the decline" for Britain unless the country sticks to tough economic reforms, citing the Chinese slowdown and plummeting oil prices among "a dangerous cocktail of new threats". The pace of China's falling currency, now at its lowest level in nearly five years, has put investors on notice that the Chinese economy, an engine of global growth, may be slowing at a faster pace than previously forecast. - Financial Times
A record number of cars rolled off the forecourts at British dealerships last year as rising consumer confidence, low fuel prices and easy credit helped crown the market's recovery from the financial crisis. UK car sales have staged a remarkable run over the past four years, with 43 consecutive months of growth only broken in October, when sales dipped about 1 per cent versus the same month a year ago. - Financial Times
The world's emerging economies will no longer drive global growth as they battle against low commodity prices, weak international trade and falling investment, the World Bank has warned. In its latest health check on the global economy, the World Bank expects growth to reach a modest 2.9pc in 2016, after another disappointing year where GDP rose by just 2.4pc in 2015. - Telegraph
McLaren is doubling the number of production workers at its Surrey base on the back of strong demand for its 200mph super cars. The sports car maker is set to announce that it is adding a second shift to its manufacturing line and recruiting 250 new staff members who will start immediately as it races to build more cars to cope with surging demand. - Telegraph
Sainsbury's largest shareholder, the Qatari Investment Authority, has expressed unease about the retailer's £1bn bid for Home Retail Group and may be prepared to block a deal. On Tuesday, Sainsbury's revealed that it had approached the Argos and Homebase owner with a cash-and-shares takeover bid in November. The offer was rejected last month, but Sainsbury's has until 2 February to consider whether it will make a new offer or walk away. - Guardian
The City regulator is investigating whether traders at Lloyds Banking Groupmanipulated the price of government bonds, in a sign that the authorities are continuing to seek out rigging of key markets. Following a series of fines across the industry for rigging interest rates and foreign exchange markets, the Financial Conduct Authority has been asking Lloyds for information about trading in gilts. - Guardian
Sir Terry Leahy and Clayton Dubilier & Rice are mulling a possible bid for Home Retail Group which would pitch the former boss of Tesco against his old arch rival J Sainsbury. The Times understands that Sir Terry, who is one of the best known names in British retail and a consultant with Clayton Dubilier & Rice (CD&R), "ran the numbers" over the owner of Argos and Homebase late last year. It is not clear if Sir Terry and the US private equity group will enter the fray for Home Retail Group (HRG). - The Times | | |
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