| | | | | 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 rebound as China scraps circuit-breaker rule London stocks rebounded on Friday as oil prices reversed declines in the previous session and confidence grew on new measures in China.
Brent crude rose 1.6% to $34.33 per barrel while West Texas Intermediate increased 1.3% to $33.72 per barrel at 0851 GMT.
Chinese stocks closed higher as regulators suspended the so-called "circuit breaker rule" late on Thursday. The rule came into effect 30 minutes into trading in China after stocks plunged 7% on the CSI 300 index.
The new circuit breakers, which kicked in on Monday, have been criticised by analysts for exaggerating declines as investors rush to exit positions before getting locked in by the halts.
"Well after just four days the experiment appeared to fail with the China Securities Regulatory Commission deciding to suspend the mechanism.....in a bid to curb volatility. It's contributing to a better, although still volatile, start for markets in China this morning, but the uneasiness among investors remains high as each day brings about a new wave questions about government policy," Deutsche Bank analysts said.
In another lift to markets, the People's Bank of China set the daily yuan rate at 6.5646 per dollar - firmer than the previous day's rate, ending eight days of weakening the currency.
In Europe, a report showed German industrial production fell 0.3% in November compared to a month ago, missing expectations for a 0.5% increase.
Germany's trade balance surplus fell to €20.6bn in November from €22.3bn in October, although it was above the estimated €20.2bn. Exports rose 0.4% in November, compared to forecasts of 0.5% and the previous month's 1.3% decline. Imports gained 1.6% in November following a 3.2% drop a month earlier, beating projections for a 1% increase.
UK trade balance figures are due at 0930 GMT with analysts expecting an decrease in November's deficit.
Across the Pond, US jobs data will be in focus at 1330 GMT including the non-farm payrolls report, unemployment rate and earnings figures for December.
The US Federal Reserve last month decided to raise interest rates for the first time in nearly a decade, as the labour market and economy improved. The central bank looks set to increase rates further this year, provided the recovery continues.
Among corporate stocks, Royal Dutch Shell and BP continued to decline on concerns about the sector.
Hammerson slumped after signing a deal to sell the Villebon 2 retail park to a consortium of leading French institutional investors for €159m (£116m).
Home Retail continued to rally on reports that Sainsbury's takeover bid is likely to rise to outbid other interested parties |
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| Market Movers
FTSE 100 (UKX) 6,004.44 0.85%
FTSE 250 (MCX) 16,918.80 0.75%
techMARK (TASX) 3,177.90 0.80%
FTSE 100 - Risers
Tesco (TSCO) 146.55p 5.28%
GKN (GKN) 288.70p 5.06%
London Stock Exchange Group (LSE) 2,588.00p 3.03%
Glencore (GLEN) 81.04p 2.96%
BG Group (BG.) 961.90p 2.67%
Standard Life (SL.) 367.40p 2.48%
BAE Systems (BA.) 518.00p 2.47%
Sports Direct International (SPD) 524.50p 2.44%
Burberry Group (BRBY) 1,102.00p 2.23%
Standard Chartered (STAN) 516.60p 2.14%
FTSE 100 - Fallers
Intu Properties (INTU) 300.90p -1.34%
ARM Holdings (ARM) 955.50p -1.29%
Royal Dutch Shell 'A' (RDSA) 1,437.50p -1.17%
Royal Dutch Shell 'B' (RDSB) 1,445.50p -1.13%
BP (BP.) 335.00p -0.80%
Direct Line Insurance Group (DLG) 369.90p -0.43%
National Grid (NG.) 946.10p -0.39%
Hammerson (HMSO) 583.00p -0.26%
British Land Company (BLND) 754.00p -0.20%
Imperial Tobacco Group (IMT) 3,517.50p -0.11%
FTSE 250 - Risers
Vectura Group (VEC) 186.50p 4.72%
Elementis (ELM) 216.70p 4.53%
Ocado Group (OCDO) 304.10p 4.07%
Zoopla Property Group (WI) (ZPLA) 232.70p 3.42%
B&M European Value Retail S.A. (DI) (BME) 257.10p 3.29%
Marston's (MARS) 163.10p 2.71%
Home Retail Group (HOME) 139.60p 2.65%
Ted Baker (TED) 2,920.00p 2.46%
Entertainment One Limited (ETO) 166.70p 2.40%
Polymetal International (POLY) 576.00p 2.31%
FTSE 250 - Fallers
Cobham (COB) 271.70p -2.27%
Derwent London (DLN) 3,509.00p -1.87%
PayPoint (PAY) 897.00p -1.64%
Fidessa Group (FDSA) 1,877.00p -1.42%
Aggreko (AGK) 871.50p -1.30%
Sophos Group (SOPH) 242.70p -1.22%
Assura (AGR) 54.35p -1.18%
Jimmy Choo (CHOO) 124.90p -1.11%
Fidelity China Special Situations (FCSS) 130.70p -0.91% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher as China recovers; payrolls eyed European stocks edged higher in early trade, recovering from big losses this week following a stabilisation in Chinese markets, as investors looked to the release of key US jobs data.
At 0900 GMT, the benchmark Stoxx 600 was up 0.4%, France's CAC 40 was 0.5% higher and Germany's DAX was up 0.6%.
China's Shanghai Composite rose just under 2% on Thursday as investors welcomed the suspension of the circuit breaker mechanism that halted trading twice this week. The mechanism was widely criticised by analysts for exaggerating declines as investors rushed to exit positions before getting locked in by the halts.
"Despite a highly volatile overnight session, it seems removing the trading limits have had the desired effect. Also, the People's Bank of China raised its yuan/USD fixing rate for the first time in nine days and this has helped to reassure investors," said SpreadCo analyst David Morrison.
"There are hopes that the worst may be over and cautious buyers are creeping back in. However, we should expect further volatility until investors can have more confidence that this week's sell-off has been nothing more than a healthy correction rather than the start of a protracted bear market."
As the situation in China stabilised, mining stocks advanced following a veritable beating earlier in the week, with the Stoxx 600 basic resources index up 1.7%.
Corporate news was hard to come by on Friday.
In London, BHP Billiton pushed higher after saying the amount of mining waste spilled as a result of a dam burst at its Samarco joint venture iron ore mine in Brazil last November was a lot less than previously thought.
In macroeconomic news, data released by Destatis showed German industrial production fell 0.3% in November from 0.5% in October, coming in well short of economists' expectations for a 0.5% increase.
Meanwhile, production rose 0.1% from the same month the previous year, weaker than the 0.4% increase registered in October.
In separate data released on Friday, Destatis said seasonally-adjusted German exports rose 0.4% in November compared with a 1.3% drop in October, while imports were up 1.6% versus a 3.2% decline the previous month.
Exports were a touch below economists' expectations but imports were a little better.
This narrowed the foreign trade surplus to €19.7bn from €20.5bn.
On the year, exports increased by 7.7% from 3.2% the previous month, while imports were up 5.3% compared with 3%.
Elsewhere, figures showed French industrial production fell 0.9% in November from the previous month, which was steeper than the 0.4% drop expected by economists.
Still to come on the data front, investors will eye the all-important nonfarm payrolls release at 1330 GMT, along with the unemployment rate.
"As we come to the end of an incredible first week of trading in 2016 attention will now shift towards this afternoon's US December employment report, which to some extent probably no longer carries the importance that was attached to it throughout 2015, now that we've got that first rate hike out of the way," said Michael Hewson, chief market analyst at CMC Markets.
"That's not to say that it's no longer relevant, it is, but the focus now has shifted towards the pace of inflation, and wage growth or the lack thereof, along with speculation as to how many further rate rises could be in the pipeline further down the track, at a time when inflationary pressures remain muted."
Following Wednesday's better-than-expected ADP report, expectations of a good number have increased a little, with numbers in the region of 200,000 being touted, Hewson said. |
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| | US Market Report | | US close: Markets plummet over China's woes and falling oil US stocks were down again on Thursday as China halted trading, oil prices plunged and geopolitical tensions escalated.
The Dow closed down 2.32% while the Nasdaq fell 3.03% and the S&P 500 dropped 2.37%.
Oil prices were in the red on worries about an oversupply in the market, compounded by tension between Saudi Arabia and Iran. West Texas Intermediate crude fell 2.03% to $33.28 per barrel and Brent dropped 1.34% to $33.77 per barrel at 2000 GMT.
Global equities ruptured after trading was suspended in mainland China following a 7% fall in the CSI 300 index.
It triggered the nation's 'circuit breaker' rule, designed to stop panic selling, and came after 30 minutes to mark the shortest trading day on record. That rule was suspended by Chinese regulators late in the evening on Thursday, ahead of the markets reopening on Friday.
Shares in China also tumbled after the People's Bank of China allowed the biggest fall in the yuan in five months on Thursday.
The central bank set the official midpoint rate on the yuan 0.5% weaker at 6.5646 per dollar, the lowest since March 2011.
"Market participants in general are remaining very jittery, with the concerns over China, increased geo-political tensions elsewhere, depressed commodity markets and anxiety over the general pace of growth in the global economy encouraging investors to scatter away from riskier assets," said FXTM Research Analyst Lukman Otunuga.
In the US, initial weekly unemployment claims in the US fell by 10,000 for the week ending on 2 January to reach 277,000, according to the US Department of Labor.
Economists had pencilled in a slightly larger drop to 275,000, while the reading for the previous week was unrevised at 278,000.
A four-week moving average of claims, which smooths out the volatility in the weekly figures, slipped by 1,250 to reach 275,750.
Among corporate stocks, Apple took a hit, closing down over 4% as questions are asked about reports that iPhone 6S and 6S Plus production levels are being cut. UBS on Thursday reportedly moved to lower its forecast for smartphone sales.
Yahoo also fell over 6% on the back on a report from Business Insider that it plans to cut at least 10% of its staff to curb costs.
S&P 500 - Risers
Gap Inc. (GPS) $26.74 +5.73%
EQT Corp. (EQT) $51.87 +4.72%
Signet Jewelers Ltd (SIG) $133.28 +4.69%
Constellation Brands Inc. Class A (STZ) $149.61 +4.53%
Cabot Oil & Gas Corp. (COG) $16.58 +3.50%
Baxalta Incorporated (BXLT) $40.46 +2.95%
Staples Inc. (SPLS) $9.83 +2.82%
Southwestern Energy Co. (SWN) $6.85 +2.39%
Wal-Mart Stores Inc. (WMT) $65.03 +2.33%
Time Warner Inc. (TWX) $70.20 +2.30%
S&P 500 - Fallers
Williams Companies Inc. (WMB) $20.61 -10.00%
Wynn Resorts Ltd. (WYNN) $60.19 -9.41%
Peabody Energy Corp. (BTU) $6.66 -9.26%
Genworth Financial Inc. (GNW) $3.18 -9.14%
Freeport-McMoRan Inc (FCX) $5.61 -9.08%
Anadarko Petroleum Corp. (APC) $40.11 -8.36%
United States Steel Corp. (X) $7.30 -7.94%
Tenet Healthcare Corp. (THC) $25.31 -7.22%
Devon Energy Corp. (DVN) $28.06 -7.12%
United Rentals Inc. (URI) $62.36 -6.51%
Dow Jones I.A - Risers
Wal-Mart Stores Inc. (WMT) $65.03 +2.33%
Dow Jones I.A - Fallers
General Electric Co. (GE) $28.97 -4.23%
Apple Inc. (AAPL) $96.45 -4.22%
Boeing Co. (BA) $133.01 -4.19%
JP Morgan Chase & Co. (JPM) $60.27 -4.04%
Intel Corp. (INTC) $31.84 -3.75%
Chevron Corp. (CVX) $83.02 -3.54%
Microsoft Corp. (MSFT) $52.17 -3.48%
Caterpillar Inc. (CAT) $63.94 -3.44%
Goldman Sachs Group Inc. (GS) $164.62 -3.07%
E.I. du Pont de Nemours and Co. (DD) $61.50 -2.97%
Nasdaq 100 - Risers
Staples Inc. (SPLS) $9.83 +2.82%
Walgreens Boots Alliance, Inc. (WBA) $81.17 +1.93%
Mattel Inc. (MAT) $27.06 +0.52%
Cerner Corp. (CERN) $57.67 +0.09%
Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $60.19 -9.41%
Incyte Corp. (INCY) $95.76 -6.36%
Yahoo! Inc. (YHOO) $30.16 -6.22%
JD.com, Inc. (JD) $27.95 -6.08%
Baidu Inc. (BIDU) $174.37 -6.06%
Autodesk Inc. (ADSK) $55.98 -5.98%
Vertex Pharmaceuticals Inc. (VRTX) $114.96 -5.95%
Illumina Inc. (ILMN) $167.72 -5.54%
Mondelez International Inc. (MDLZ) $41.59 -5.46% |
| | 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 | | Friday newspaper round-up: SFO, FCA, EDF, food prices British fraud prosecutors have asked for £21m in additional funding, including £15.5m needed urgently. The Serious Fraud Office asked for extra money - the fourth such request in as many years - to cover the cost of blockbuster investigations. Robert Buckland, the solicitor-general, told parliament on Thursday the SFO was seeking approval for the £15.5m for "significant investigations and the settlement of material liabilities". - Financial Times
Tracey McDermott always seemed an unlikely fit as a chief executive of the Financial Conduct Authority: she is not blessed, or encumbered, with the Type A personality that is standard issue among the City of London elite. If rumours among the same City elite were to be believed, however, she had looked like the favourite candidate to head the UK's financial regulator - a role she has temporarily filled since her former boss was forced out last year. - Financial Times
EDF is considering the sale of a €3bn (£2.2bn) stake in its British nuclear business in a bid to raise cash for new Hinkley Point reactors. Possible buyers would be state-owned Chinese companies, who are already committed partners on the £18bn Somerset project. - Guardian
The United Nations and aid agencies demanded urgent access yesterday to a Syrian town besieged by President Assad's forces where 42,000 people are in danger of starving to death. Witness accounts from inside the town of Madaya have described catastrophic conditions with residents eating pets, leaves and grass. Pictures posted on social media showed emaciated figures with protruding ribs reminiscent of concentration camp victims. - The Times
World food prices fell 19pc in 2015, with meat, dairy, oils, sugars and cereals all affected by weak global demand and a strengthening US dollar. The Food Price Index, collated by the Food and Agriculture Organisation of the United Nations, averaged 164.1 points last year, down from 202 points in 2014, marking the fourth consecutive annual decline. The index was set at 100 points based on prices in 2002-4. - The Telegraph
Blue Inc, the fashion retailer, is to axe hundreds of jobs and close stores as part of a restructuring. The company, which was once chaired by former Marks & Spencer boss Sir Stuart Rose, could shut around 60 shops out of a total of 232 across the UK. The move, which Blue Inc blamed on the recent warm weather hitting demand for winter clothing as well as consumers switching to shopping online, will result in around 500 job losses. - The Telegraph
The price of oil could fall as low as $25 a barrel by March as Iran begins to ramp up output after the removal of international sanctions as early as next month, a senior Iranian oil official has warned. Fereidun Fesharaki, a former oil adviser to the Iranian prime minister, said he expected crude prices to drop to between $25 and $30 between now and March as excess Iranian output exacerbates a widening global supply glut. - The Times | | |
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