| | | | | | | | Metro Bank IPO: What you need to know In just a couple of weeks, Metro is due to launch its IPO. It’s following in the footsteps of smaller rivals, Aldermore and Shawbrook, who listed last year. Both performing strongly in the months following their IPOs.
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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 edge higher as oil prices rise London stocks gained on Tuesday as oil prices rose and investors looked ahead to UK inflation data.
Oil prices advanced in morning trade following reports that Saudi Arabia's oil minister will meet with his Russian counterpart in Doha later on Tuesday to address the crisis in the sector. An oversupplied market and weak demand has been pushing crude prices lower.
"Assuming these reports are accurate, it would appear that there was actually some substance to suggestions by the UAE energy minister last week that OPEC is open to discussing (production) cuts, which given the number of false claims prior to this, actually comes as a surprise," said Craig Erlam, senior market analyst at Oanda.
Brent crude jumped 5.2% to $35.23 per barrel and West Texas Intermediate increased 3.9% to $30.95 per barrel at 0855 GMT.
In the UK, the Office for National Statistics publishes its inflation report at 0930 GMT which is expected to reveal weaker figures for January. The consumer price index is forecast to fall 0.7% month-on-month compared to a 0.1% increase in December. On the year, CPI is projected to grow 0.3% in January, down from 0.2% in December.
Inflation remains well below the Bank of England's 2% target amid falling oil prices and a supermarket price war.
In China, data showed banks extended 2.51trn yuan of new loans in January, beating analysts' estimates of 19.0trn yuan. The previous month banks granted 597.8bn yuan of new loans. The growth suggests Beijing is keeping monetary policy loose to turn around the economic slowdown.
Across the Atlantic, the pace is set to pick up as the US equities market returns to trading after closing on Monday for President's Day.
Corporate-wise, Anglo American's shares declined as the miner posted a pre-tax loss of $5.5bn after $3.8bn of write-downs since the half year, as it unveiled its promised "radical" overhaul of the business to counter crumbling commodity prices, with more than 6,500 job cuts expected.
Oil producers, including Royal Dutch Shell and BP, rallied on the increase in crude prices.
Randgold Resources and Fresnillo were top fallers on the FTSE 100 as gold and silver prices plunged 3.28% and 3.77%, respectively on the Comex.
Fidessa Group dropped as it reported flat pre-tax profit for the full year amid volatile conditions in financial markets.
Vodafone edged lower as the company and Liberty Global agreed to combine their operations in the Netherlands.
Mondi climbed as it said it expected full year underlying operating profits to be higher than the €767m achieved in 2014. |
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| Market Movers
FTSE 100 (UKX) 5,861.02 0.63%
FTSE 250 (MCX) 15,798.65 0.45%
techMARK (TASX) 2,999.75 0.24%
FTSE 100 - Risers
BP (BP.) 346.70p 4.18%
Royal Dutch Shell 'B' (RDSB) 1,594.00p 3.47%
Royal Dutch Shell 'A' (RDSA) 1,592.50p 3.27%
BHP Billiton (BLT) 707.80p 2.05%
Mondi (MNDI) 1,277.00p 1.75%
ARM Holdings (ARM) 906.50p 1.51%
Taylor Wimpey (TW.) 174.10p 1.46%
CRH (CRH) 1,749.00p 1.45%
Prudential (PRU) 1,210.00p 1.34%
Rio Tinto (RIO) 1,875.50p 1.32%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 5,790.00p -3.98%
Standard Chartered (STAN) 437.90p -3.34%
Anglo American (AAL) 384.75p -2.11%
Shire Plc (SHP) 3,768.00p -0.76%
Fresnillo (FRES) 867.00p -0.74%
Antofagasta (ANTO) 439.80p -0.68%
Land Securities Group (LAND) 1,018.00p -0.59%
Vodafone Group (VOD) 208.25p -0.57%
Travis Perkins (TPK) 1,751.00p -0.51%
HSBC Holdings (HSBA) 444.45p -0.44%
FTSE 250 - Risers
Spectris (SXS) 1,609.00p 6.20%
BGEO Group (BGEO) 1,805.00p 4.58%
International Personal Finance (IPF) 238.50p 4.24%
Pendragon (PDG) 37.49p 4.14%
OneSavings Bank (OSB) 282.90p 3.97%
Tullow Oil (TLW) 183.70p 2.86%
NMC Health (NMC) 860.00p 2.63%
Ocado Group (OCDO) 266.70p 2.62%
Worldwide Healthcare Trust (WWH) 1,650.00p 2.42%
Evraz (EVR) 72.90p 2.39%
FTSE 250 - Fallers
Acacia Mining (ACA) 214.60p -4.66%
Allied Minds (ALM) 290.48p -2.30%
Jimmy Choo (CHOO) 122.90p -1.60%
Pennon Group (PNN) 817.00p -1.45%
Centamin (DI) (CEY) 78.70p -1.32%
Sophos Group (SOPH) 188.90p -1.15%
Ibstock (IBST) 200.00p -1.04%
Assura (AGR) 52.50p -0.94%
Spire Healthcare Group (SPI) 340.00p -0.90% |
| | UK Event Calendar | | Tuesday 16 February
INTERIMS
A&J Mucklow Group, Filtronic, Hargreaves Services
QUARTERLY EX-DIVIDEND DATE
Schlumberger Ltd.
FINALS
Afarak Group (DI), Anglo American, Spectris
AGMS
MedicX Fund Ltd. |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks in the black as oil prices rally European stocks edged higher in early trade following on from a positive session in Asia, as oil prices rallied.
At 0900 GMT, the benchmark Stoxx Europe 600 index was up 0.7%, Germany's DAX was 0.2% higher and France's CAC 40 was up 0.8%.
"A three day rally isn't usually cause for celebration, but as European equity markets rise again and oil extends gains to over 16% in a week, the panic that reigned last Thursday seems a distant memory. While some may argue that this is a technical bounce and that it provides an opportunity to sell, there appears to be a more pronounced shift in positive sentiment," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"Mario Draghi lived up to his superhero billing yesterday, by yet again calming markets and promising action if necessary. With Premier Li also confirming decisive action in China amid anticipation that new projects and policies will improve prospects for the region, investor confidence is returning that central banks and policymakers will do whatever it takes to support markets."
Oil prices rose sharply, as investors hoped that a meeting between oil ministers from Saudi Arabia, Russia, Qatar and Venezuela would prompt a production cut.
The oil ministers are meeting in Doha, Qatar, and are expected to hold a press conference once talks have finished.
West Texas Intermediate was 5.5% higher at $31.06 a barrel and Brent crude gained 6% to $35.38, helping to push the Stoxx 600 oil and gas index up 2.9%.
On the corporate front, Anglo American was higher after it reported a pre-tax loss of $5.5bn after $3.8bn of write-downs since the half year, as it unveiled its promised "radical" overhaul of the business to combat crumbling commodity prices.
HeidelbergCement was on the front foot after lifting its savings target by a third to €400m.
Michelin racked up gains after the tire maker reported a 19% jump in full year earnings.
Orange also gained after the French telecoms group said it returned to core profit growth in 2015 a year ahead of plan.
On the downside, Standard Chartered was under the cosh after Investec downgraded the stock to 'hold' from 'buy'.
Vodafone nudged lower after announcing that it has agreed with Liberty Global to merge the companies' operations in the Netherlands. |
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| | Newspaper Round Up | | Tuesday newspaper round-up: BoE, car industry, Shell, HSBC The Bank of England has rebuffed criticism from the chief architect of the UK's banking reforms by denying that it has watered down his recommended minimum capital levels for Britain's biggest lenders. In a statement released late on Monday the BoE rejected that it had gone soft on UK banks and pushed back firmly against an article in Monday's Financial Times by Sir John Vickers. - Financial Times
Eurosceptic ministers are planning to disown David Cameron's "new settlement" for Britain in the EU within hours of an expected deal being struck, as the prime minister prepares for a cabinet showdown on Friday. Mr Cameron is confident he can secure a new deal for Britain at a Brussels summit on Thursday night, in spite of a last-minute battle with Poland over child benefit payments to migrant workers. - Financial Times
Living standards in the UK have finally made up the ground lost as a result of the financial crash following the boost to incomes provided by rising employment and falling inflation, according to the Resolution Foundation. The thinktank said that the longest squeeze on households in living memory had finally come to an end, with incomes surpassing their previous 2009 peak. - Guardian
Europe's car industry has suggested that the continent's entire road network be resurfaced at a cost of hundreds of billions of euros as a "climate initiative" so that it does not need to make mandatory car emissions cuts by 2030. The lobbying document produced by the European Automobile Manufacturers Association (ACEA) and seen by the Guardian also advocates for greater use of biofuels; "smart transport" infrastructure; and "eco-driving" lessons for motorists.- Guardian
A new German plan to impose "haircuts" on holders of eurozone sovereign debt risks igniting an unstoppable European bond crisis and could force Italy and Spain to restore their own currencies, a top adviser to the German government has warned. It is the fastest way to break up the eurozone," said Professor Peter Bofinger, one of the five "Wise Men" on the German Council of Economic Advisers. - Telegraph
Britain's record low borrowing costs will hand George Osborne a £21bn windfall in next month's Budget that could help plug a widening hole in the public finances, new analysis shows. A dramatic fall in Gilt yields over the past three months is expected to reduce the Government's debt interest bill by £2bn this year alone, rising to £5bn by 2020, according to Capital Economics. - Telegraph
Royal Dutch Shell reiterated its confidence in the North Sea oil industry yesterday as it sealed a £35 billion acquisition of its rival BG Group and promised a rapid boost in output from Brazil. Writing exclusively for The Times on the first day after completing the merger, Ben van Beurden, Shell's chief executive, promised to retain many of BG's existing assets in the North Sea, where high costs and plunging oil prices have fuelled deep unease about job losses and future investment in the basin. - The Times
HSBC may replace its top two bosses within a year after ending speculation over the location of its headquarters by deciding to stay in Britain. Douglas Flint, the chairman, said that plans to replace himself and Stuart Gulliver, the bank's chief executive, were "well-established", with speculation mounting that they could be gone by the end of 2017. - The Times |
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