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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: FTSE flat ahead of non-farm payrolls The FTSE 100 opened flat on Friday as investors erred on the side of caution ahead of the US non-farm payrolls report.
The Labor Department's non-farm payrolls report at 1330 GMT is expected to show US employers added 190,000 jobs in January, marking a slowdown from the previous month's 292,000 jobs in December.
Average hourly earnings are forecast to have risen 2.2% in the year to January, following a 2.5% increase the previous month. The unemployment rate is projected to remain at 5% in January.
The report follows the private payrolls figures from ADP on Wednesday, which came in better than expected. It showed employers added 205,000 jobs in January compared to analysts' forecasts for 195,000 jobs.
The Labor Department on Thursday revealed initial jobless claims rose 8,000 to 285,000 in the week to 30 January. Analysts had been expecting 278,000 claims.
The non-farms payrolls reports will be once again closely scrutinised by the Federal Reserve as it takes into consideration the health of the labour market in deciding the timing of its next interest rate hike.
"The labour market tightened significantly in 2015, which was the main reason why the Fed raised the target rate in December, as PCE core inflation is still subdued," according to Danske Bank.
"Since then there has been much uncertainty about the true state of the US economy, as the financial turmoil in the beginning of 2016 partly reflects growth concerns due to monetary tightening and weak data releases."
Elsewhere, German factory orders fell 0.7% in December compared to a month earlier, beating expectations for a 0.5% decline.
Meanwhile, oil prices declined with Brent down 1.1% $34.08 per barrel and West Texas Intermediate down 0.6% to $31.51 per barrel at 0904 GMT.
In company news, mining stocks reversed the previous session's gains as metal prices fell including gold (-0.16%), silver (-0.07%) and copper (-0.91%). Glencore, Anglo American and Rio Tinto were among the biggest fallers.
BG Group's shares climbed after saying upstream production rose 16% during the year to 31 December, to 704,000 barrels of oil equivalent per day.
Just Eat jumped after announcing it had ordered four online takeaway food businesses in Spain, Italy, Brazil and Mexico for a total of €125m (£94.7m). |
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| | Market Movers
FTSE 100 (UKX) 5,897.58 -0.02%
FTSE 250 (MCX) 16,100.17 0.08%
techMARK (TASX) 3,060.76 0.21%
FTSE 100 - Risers
Kingfisher (KGF) 324.00p 1.38%
Babcock International Group (BAB) 899.50p 1.24%
Tesco (TSCO) 172.00p 1.24%
Coca-Cola HBC AG (CDI) (CCH) 1,338.00p 1.21%
Sage Group (SGE) 614.00p 1.07%
Vodafone Group (VOD) 212.45p 1.05%
easyJet (EZJ) 1,548.00p 1.04%
InterContinental Hotels Group (IHG) 2,313.00p 0.96%
Unilever (ULVR) 2,980.50p 0.91%
Associated British Foods (ABF) 3,162.00p 0.86%
FTSE 100 - Fallers
Glencore (GLEN) 95.74p -3.95%
Anglo American (AAL) 318.30p -3.05%
Rio Tinto (RIO) 1,814.00p -2.37%
BAE Systems (BA.) 481.30p -1.74%
BHP Billiton (BLT) 700.50p -1.70%
Barclays (BARC) 171.40p -1.30%
Antofagasta (ANTO) 425.10p -1.21%
DCC (DCC) 5,145.00p -1.06%
Legal & General Group (LGEN) 214.10p -0.97%
Johnson Matthey (JMAT) 2,324.00p -0.81%
FTSE 250 - Risers
Just Eat (JE.) 397.60p 10.44%
Sophos Group (SOPH) 230.80p 2.58%
Pendragon (PDG) 36.08p 2.33%
Zoopla Property Group (WI) (ZPLA) 215.00p 2.23%
CLS Holdings (CLI) 1,541.00p 2.05%
P2P Global Investments C (P2P2) 934.50p 1.58%
Circassia Pharmaceuticals (CIR) 276.40p 1.47%
TR Property Inv Trust (TRY) 280.90p 1.33%
BTG (BTG) 571.00p 1.33%
Shawbrook Group (SHAW) 293.50p 1.31%
FTSE 250 - Fallers
Just Retirement Group (JRG) 133.00p -2.71%
Woodford Patient Capital Trust (WPCT) 88.00p -2.44%
Aggreko (AGK) 802.00p -2.14%
Investec (INVP) 432.70p -2.10%
Thomas Cook Group (TCG) 102.80p -2.10%
Polymetal International (POLY) 609.50p -1.85%
Ibstock (IBST) 207.00p -1.80%
Vedanta Resources (VED) 226.80p -1.78%
Hastings Group Holdings (HSTG) 163.30p -1.57%
AO World (AO.) 157.50p -1.56% |
| | UK Event Calendar | | Friday 05 February
INTERIM DIVIDEND PAYMENT DATE
Bisichi Mining, ICAP, Supergroup
QUARTERLY PAYMENT DATE
Investors Capital Trust 'A' Shares
Q4
BG Group
FINALS
BG Group
ANNUAL REPORT
Formation Group, On The Beach Group
AGMS
Brewin Dolphin Holdings, Lakehouse, On The Beach Group , Petro Matad Ltd., Shaftesbury, Stride Gaming
FINAL DIVIDEND PAYMENT DATE
Britvic, Game Digital, Henderson European Focus Trust, JPMorgan Asian Inv Trust, Servoca |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge lower as investors eye non-farm payrolls European stocks edged lower in early trade, with investors erring on the side of caution ahead of the all-important non-farm payrolls report.
At 0855 GMT, the benchmark Stoxx Europe 600 index was down 0.5%, Germany's DAX was 0.6% weaker and France's CAC 40 was off 0.1%.
"There certainly seems to be some anxiety on the FOMC about a tightening of monetary conditions, the effect of a strong US dollar, and the slowdown in global growth prospects, and this could well keep the Fed on the side-lines in the short and medium term," said Michael Hewson, chief market analyst at CMC Markets.
"For most of last year all the market was able to focus on was the US jobs report to the exclusion to all else and while today's January jobs report is also likely to be the main event, it would need to be a spectacularly good number now to shift market expectations about the slowly receding possibility of an imminent rate rise."
Oil prices were weaker, with West Texas Intermediate down 0.9% at $31.44 a barrel and Brent crude down 1.3% at $34.02.
In corporate news, BG shares were little changed in early trade after the oil and gas company posted a drop in full year profit but a rise in production.
French lender BNP Paribas rallied. Although the company posted a big drop in fourth quarter earnings, investors appeared to be welcoming plans to overhaul the investment bank and cut costs.
ArcelorMittal tumbled after the steelmaker announced a large fourth quarter loss and said it will issue $3bn of shares to strengthen its balance sheet.
Figures released earlier by Destatis showed German manufacturing orders fell more than expected in December.
Orders were down 0.7% compared with a 1.5% increase in November and steeper than the 0.5% drop expected by economists. On the year, manufacturing orders were down 2.7%.
Domestic orders decreased 2.5% while foreign orders slipped 0.6% on the previous month.
New orders from the euro area were down 6.9% from November and orders from other countries increased 5.5%. Pantheon Macroeconomics said the figures were poor but the jump in export orders was upbeat.
"A disappointing headline, indicating German manufacturing continues to struggle," it said.
Still to come, payrolls are at 1330 GMT, along with the unemployment rate and trade balance figures. |
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| | US Market Report | | US close: Stocks rise for second day despite mixed signals After a choppy session, US stocks finished on the front foot for the second day, with traders weighing unpredictable oil prices, worse than expected initial jobless claims, durable goods and factory orders but a sharply retreating dollar.
Also, while London finishing on a high, the European Union cut its economic growth forecasts for 2016 due to the emerging market slowdown.
The Dow Jones Industrial Average rose 0.49% at 16,416.58, while the S&P 500 and the Nasdaq composite crawled 0.15% and 0.12% higher respectively.
The dollar was down by close to 1% against both the yen and euro but cable was close to flat.
Initial jobless claims rose 8,000 to 285,000 in the week to 30 January, according to the Labor Department, which was worse that the 278,000 claims analysts had been expecting.
"It's still too early to know for sure that the trend in claims has risen, but it is starting to look that way," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
"We thought the seasonals pointed to a modest dip this week, but claims rose instead."
The data comes after Wednesday's ADP's private payrolls report that showed US employers added more than expected jobs in January. The official monthly non-farm payrolls figures on Friday are forecast to reveal the US added 190,000 jobs in January.
The Federal Reserve is keeping a watch on the health of the labor market as it decides when to next raise interest rates.
Meanwhile, data revealed US factory orders fell 2.9% in December, more than the 2.8% drop expected by analysts and compared to the previous month's 0.7% decline.
US durable goods orders also fell short of forecasts in December, declining 5% compared to a drop of 5.1% in November and analysts' estimates for a 4.5% decrease.
On a more upbeat note for markets, oil prices moved shakily higher amid reports of potential talks between global oil producers to curb the supply glut, before losing momentum later. Venezuela's oil minister Eulogio del Pino told Iranian news agency Shana on Wednesday that six producing countries including OPEC members Iran and Iraq and non-members Russia and Oman, supported a meeting.
West Texas Intermediate crude fell 1.6% to $31.76 per barrel and Brent decreased 1.6% to $34.48 per barrel just after the US stock market session closed.
In company news, shares in GoPro plunged after the company posted a fourth quarter loss and gave a forecast that fell short of expectations.
Ralph Lauren stock looked pretty pony as the Polo-branded clothing group cut its sales forecast for the year due to the strong US dollar, with revenues expected to decline 3% compared to previous forecast for flat sales.
Likewise, department store chain Kohl's cut its full-year earnings forecast due to weak sales in the holiday quarter.
Yahoo advanced after the company was upgraded to buy from neutral/high risk at Citi on the potential for a buyout.
S&P 500 - Risers
Freeport-McMoRan Inc (FCX) $5.72 +17.94%
Genworth Financial Inc. (GNW) $2.79 +12.50%
Alcoa Inc. (AA) $8.31 +10.07%
Fastenal Co. (FAST) $43.53 +9.84%
Peabody Energy Corp. (BTU) $4.59 +9.81%
United States Steel Corp. (X) $8.24 +9.43%
Ryder System Inc. (R) $56.71 +9.16%
Rowan Companies plc (RDC) $12.78 +9.14%
Transocean Ltd. (RIG) $10.19 +8.98%
Teradata Corp. (TDC) $25.58 +7.98%
S&P 500 - Fallers
Ralph Lauren Corp (RL) $89.95 -22.16%
Kohls Corp. (KSS) $41.52 -18.80%
ConocoPhillips (COP) $35.32 -8.57%
L Brands Inc (LB) $88.57 -6.93%
Intercontinental Exchange Inc (ICE) $246.09 -6.46%
Nordstrom Inc. (JWN) $47.43 -6.13%
Marathon Petroleum Corporation (MPC) $34.94 -6.08%
MetLife Inc. (MET) $39.75 -5.24%
Snap On Inc. (SNA) $145.15 -5.22%
Clorox Co. (CLX) $124.71 -4.87%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $65.96 +4.25%
United Technologies Corp. (UTX) $88.12 +2.51%
Goldman Sachs Group Inc. (GS) $156.49 +2.50%
International Business Machines Corp. (IBM) $127.65 +2.35%
Cisco Systems Inc. (CSCO) $23.54 +1.90%
General Electric Co. (GE) $29.18 +1.78%
JP Morgan Chase & Co. (JPM) $58.40 +1.72%
Exxon Mobil Corp. (XOM) $79.83 +1.72%
Intel Corp. (INTC) $29.77 +1.47%
Boeing Co. (BA) $123.61 +1.43%
Dow Jones I.A - Fallers
Nike Inc. (NKE) $60.17 -3.71%
Merck & Co. Inc. (MRK) $48.59 -2.92%
Pfizer Inc. (PFE) $29.00 -2.26%
Home Depot Inc. (HD) $121.11 -2.16%
Visa Inc. (V) $73.68 -0.94%
McDonald's Corp. (MCD) $120.66 -0.67%
Procter & Gamble Co. (PG) $80.70 -0.49%
Coca-Cola Co. (KO) $42.53 -0.44%
Verizon Communications Inc. (VZ) $50.43 -0.38%
Microsoft Corp. (MSFT) $52.00 -0.31%
Nasdaq 100 - Risers
Fastenal Co. (FAST) $43.53 +9.84%
Nxp Semiconductors Nv (NXPI) $76.31 +7.81%
Seagate Technology Plc (STX) $32.19 +5.47%
Yahoo! Inc. (YHOO) $29.15 +5.31%
JD.com, Inc. (JD) $24.95 +4.79%
PACCAR Inc. (PCAR) $50.00 +4.62%
Micron Technology Inc. (MU) $11.23 +4.32%
Incyte Corp. (INCY) $72.03 +4.13%
Broadcom Limited (AVGO) $136.12 +3.62%
Expeditors International Of Washington Inc. (EXPD) $45.79 +3.20%
Nasdaq 100 - Fallers
Monster Beverage Corp (MNST) $128.46 -4.79%
Illumina Inc. (ILMN) $143.37 -4.07%
Dollar Tree Inc (DLTR) $76.67 -3.67%
Activision Blizzard Inc. (ATVI) $31.93 -3.59%
Charter Communications Inc. (CHTR) $170.50 -3.37%
Mondelez International Inc. (MDLZ) $38.02 -3.08%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $168.88 -2.64%
Alphabet Inc. Class C (GOOG) $708.01 -2.61%
Alphabet Inc. Class A (GOOGL) $730.03 -2.58% |
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| | Newspaper Round Up | | Friday newspaper round-up: oil tax, Google, Sports Direct, Hasbro/Mattel Partners at top London law firms are charging as much as £1,000 an hour - the highest rate ever recorded, according to researchers. Hourly rates for partners at leading commercial law firms have risen in real terms from as much as £598 in 2003 to at least £775 an hour with some lawyers charging £1,000 an hour, a report from the Centre for Policy Studies think-tank found. - Financial Times
The White House is proposing a bold $10 per barrel tax on oil in a move that immediately sparked a backlash from an energy industry buckling under the pressure of low prices. The proposal was contained in a budget plan that the Republican-led Congress will ensure is never enacted, but it is likely to force the Democratic candidates for president to sharpen their positions on energy. - Financial Times
George Osborne's claim that the government secured a major corporation tax deal with Google appear to be unravelling after it emerged that a quarter of the £130m recovered by HM Revenue & Customs related to the US company's share options scheme. Filings by Google's UK subsidiary show that £33m of the funds paid to the Treasury followed a wrangle over share options handed to staff, which the US business had argued were exempt from UK tax. - Guardian
Rangers has moved to end its turbulent commercial relationship with Sports Direct after the football club saw off a legal challenge from the retail chain. In a message to supporters, the Rangers chairman, Dave King, said he had written to Sports Direct formally giving notice to end the joint venture. The statement came a day after the retailer dropped a high court attempt to prevent the disclosure of details behind the tie-up. - Guardian
Hasbro has held talks with Mattel about a merger that would create one of the largest toy makers in the world, according to reports. Hasbro approached its rival at the end of last year, it is claimed, with a view to creating a single company with control over global brands such as Barbie, Hot Wheels and My Little Pony. - Telegraph
Oil-producing nations face years of pain as prices remain lower for longer, the managing director of the International Monetary Fund (IMF) has warned. Christine Lagarde said the Fund stood ready to help struggling countries such as Azerbaijan and Nigeria cope with a renewed drop in oil prices, amid reports that the African nation has sought support from the World Bank. - Telegraph
Financial institutions have begun insuring themselves against the pound collapsing if Britain votes to leave the EU, the Bank of England said yesterday as it warned that growth could suffer in the coming months from uncertainty about the referendum's outcome. Option markets are pricing in the possibility of "a significant depreciation of sterling against the euro and the dollar over the next year". - | | |
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