Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 31 March 2016 10:39:03 Monitor Quote Charts News CFD's Compare Brokers Free BB   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: Miners lead UK equities lower UK equities were in the red on Thursday with mining stocks leading the decline as oil and copper prices dropped. Anglo American, BHP Billiton, Glencore and Rio Tinto were among the biggest fallers on the FTSE 100 after copper prices fell 0.66% to $217.55 per pound on the Comex and oil prices reversed the previous day's gains. Brent crude decreased 0.77% to $38.96 per barrel and West Texas Intermediate slid 1.2% to $37.85 per barrel at 0857 BST. Meanwhile, traders will be kept busy on Thursday with a raft of economic data. GfK's UK consumer confidence index held at 0 in March, beating expectations for a reading of 0. "Despite good economic headlines about low inflation, interest rates and prices in the shops, concerns about Brexit and the ongoing euro zone crisis appear to be hitting home," Joe Staton, head of market dynamics at GfK said. Still to come, UK gross domestic product at 0930 BST, Eurozone inflation at 1000 BST, US initial jobless claims at 1330 BST and Chicago purchasing managers' index at 1445 BST. In company news, TUI's shares jumped after the travel group informed investors that overall demand and pricing for holidays has remained resilient in the first half of its financial year. Carnival rallied a day after reporting first quarter sales and earnings that beat forecasts and raising its guidance for the full year. AO World gained after saying that it enjoyed a better fourth quarter than it expected. Award winning Barclays Stockbrokers Investment ISA Use your ISA allowance by 5 April 2016. You don't have to make investment choices straight away - as long as you have the cash in place, that’s enough to secure the tax benefits of this year’s allowances. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA Market Movers FTSE 100 (UKX) 6,164.74 -0.62% FTSE 250 (MCX) 16,916.03 -0.35% techMARK (TASX) 3,126.21 -0.21% FTSE 100 - Risers TUI AG Reg Shs (DI) (TUI) 1,073.00p 4.38% Carnival (CCL) 3,748.00p 1.52% Merlin Entertainments (MERL) 464.40p 1.13% Paddy Power Betfair (PPB) 9,670.00p 1.04% Mediclinic International (MDC) 909.00p 0.66% Admiral Group (ADM) 1,980.00p 0.56% Hargreaves Lansdown (HL.) 1,339.00p 0.53% Informa (INF) 699.00p 0.36% Hammerson (HMSO) 578.50p 0.35% Compass Group (CPG) 1,233.00p 0.24% FTSE 100 - Fallers Old Mutual (OML) 189.60p -3.61% BHP Billiton (BLT) 766.10p -3.47% Anglo American (AAL) 520.60p -2.82% Glencore (GLEN) 147.50p -2.67% Rio Tinto (RIO) 1,928.00p -2.28% Pearson (PSON) 887.50p -1.99% Standard Chartered (STAN) 462.95p -1.94% Rolls-Royce Holdings (RR.) 677.00p -1.88% Aviva (AV.) 453.10p -1.50% Royal Bank of Scotland Group (RBS) 220.40p -1.48% FTSE 250 - Risers AO World (AO.) 187.00p 8.22% Serco Group (SRP) 101.30p 1.96% Homeserve (HSV) 433.90p 1.95% RPC Group (RPC) 774.50p 1.77% Zoopla Property Group (WI) (ZPLA) 258.90p 1.61% Lookers (LOOK) 164.80p 1.42% Acacia Mining (ACA) 268.80p 1.36% Highbridge Multi-Strategy Fund GBP Shares (HMSF) 185.00p 1.20% NMC Health (NMC) 1,045.00p 1.16% P2P Global Investments (P2P) 881.00p 1.15% FTSE 250 - Fallers Aldermore Group (ALD) 209.50p -4.77% Interserve (IRV) 434.40p -4.59% Tullow Oil (TLW) 194.70p -2.99% Moneysupermarket.com Group (MONY) 319.00p -2.83% Amec Foster Wheeler (AMFW) 436.00p -2.57% Vedanta Resources (VED) 325.60p -2.43% Morgan Advanced Materials (MGAM) 228.60p -2.31% Weir Group (WEIR) 1,081.00p -2.26% Allied Minds (ALM) 468.60p -2.25% UK Event Calendar Thursday 31 March INTERIMS James Halstead INTERIM DIVIDEND PAYMENT DATE BHP Billiton, Hansard Global, Hargreaves Lansdown, Independent Inv Trust, Journey Group, Redrow INTERIM EX-DIVIDEND DATE Finsbury Food Group, Origin Enterprises, Smith (DS), Softcat, Volution Group (WI), Wolseley QUARTERLY PAYMENT DATE Custodian Reit , HICL Infrastructure Company Ltd, MedicX Fund Ltd., Premier Energy & Water Trust, Raven Russia Ltd. Cum Red Pref Shares, Real Estate Credit Investments PCC Ltd Pref Shs QUARTERLY EX-DIVIDEND DATE British Land Company, Torchmark Corp. FINALS Chesnara, Globaltrans Investment GDR (Reg S), Hilton Food Group, Publishing Technology, Scisys, Sierra Rutile Ltd, Wireless Group ANNUAL REPORT Ferrexpo, Macfarlane Group SPECIAL DIVIDEND PAYMENT DATE Beazley, Panther Securities, Premier Energy & Water Trust EGMS DQ Entertainment, Global Telecom Holding S.A.E. GDR (Each Repr 5 Ord Egp5)(Reg S) AGMS African Potash Ltd, Be Heard Group, Keras Resources , Low & Bonar, W H Ireland Group TRADING ANNOUNCEMENTS Booker Group, CMC Markets , TUI AG Reg Shs (DI) FINAL DIVIDEND PAYMENT DATE Aviva 8 3/8% Cumulative Irrd Preference 1, EP Global Opportunities Trust, ICBC Standard Bank, Imperial Brands , Northern Electricity Prf, Temple Bar Inv Trust FINAL EX-DIVIDEND DATE BrainJuicer Group, EMIS Group, Equiniti Group , Foreign and Colonial Inv Trust, InterContinental Hotels Group, Interserve, Jardine Lloyd Thompson Group, Lighthouse Group, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Miton Group, Moneysupermarket.com Group, Nichols, Old Mutual, Stadium Group ColmexPro - Trading for succes Learn the trading secrets wall street trading firms don't want you to know. Click here to download your free guide. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks fall; telecoms under pressure European stocks fell in early trade, with telecoms issues under pressure as investors looked to the release of some key data points. At 0900 BST, the benchmark Stoxx Europe 600 index was down 1%, Germany's DAX was off 0.7% and France's CAC 40 was 1.1% weaker. At the same time, oil prices were in the red. West Texas Intermediate was down 1.1% to $37.91 a barrel and Brent crude was 0.7% lower at $39.00. "A mix of light profit-taking and receding upside momentum is putting a bit of pressure on stocks early on," said Markus Huber, senior analyst at Peregrine & Black. "With tomorrow's crucial US nonfarm payrolls data being released and stocks having had a fairly good run so far this week, some traders are willing to take some money off the table." In corporate news, French telecommunications stocks were under the cosh after Orange and Bouygues Telecom said they have extended the deadline to complete their tie-up to Sunday amid disagreements over the value of the telecoms unit. On the upside, Tui rallied after saying overall demand and pricing for holidays has remained resilient in the first half of its financial year. Tui said it has sold 47% of its summer holiday programme, in line with last year, and at 1% higher average selling prices, meaning revenue from the programme has been lifted 3%. On the data front, German retail sales unexpectedly fell in February, according to figures released by Destatis on Thursday. Retail sales were down 0.4% compared with the previous month, missing expectations of a 0.3% increase. Meanwhile, January's figures were revised lower to show a 0.1% drop compared with the 0.7% growth initially estimated. Compared with the same month a year ago, however, retail sales rose 5.4%, which was a much bigger increase than the 2.2% forecast by economists. Still to come on the macroeconomic front, Eurozone inflation data is at 1000 BST. In the US, initial jobless claims are at 1330 BST while Chicago PMI is at 1445 BST. Huber said the main focus will be on the release of the Chicago PMI. Award winning Barclays Stockbrokers Investment ISA Use your ISA allowance by 5 April 2016. You don't have to make investment choices straight away - as long as you have the cash in place, that’s enough to secure the tax benefits of this year’s allowances. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA US Market Report US close: Stocks end up but off highs as oil slips back US stocks closed up on Wednesday as a dovish speech by Federal Reserve Chair Janet Yellen the previous day continued to underpin sentiment, although indices were off the day's highs as oil prices slipped back. The Dow Jones Industrial Average and the Nasdaq both ended up 0.4% while the S&P 500 rose 0.4%. Oil prices, meanwhile, settled pretty flat following a strong performance earlier in the day, after data from the Energy Information Administration showed US crude stockpiles rose 2.3m barrels last week to 534.8m barrels, which was at all-time highs. West Texas Intermediate was flat at $38.27 per barrel and Brent crude was 0.3% higher at $39.25. Investors continued to weigh Yellen's speech at the Economic Club of New York on Tuesday. Yellen said the central bank would move cautiously when it came to further interest rate hikes, striking a dovish tone that contrasted greatly with the hawkish comments last week from San Francisco Fed President John Williams, Atlanta Fed President Dennis Lockhart and St Louis Fed President James Bullard. The Fed Chair highlighted global economic uncertainty, including the slowdown in China and sliding oil prices as reasons behind the Fed's decision not to hike in January or March and said there would be "only gradual increases" going forward. Economic news also provided a boost on Wednesday as the ADP said the private sector in the US added 200,000 jobs in March, beating expectations of 195,000 jobs but marking a deceleration from the previous month's 214,000 jobs. The report comes ahead of the all-important US non-farm payrolls report on Friday, which Societe Generale expects to show a solid increase of 217,000 in March, up from 214,000 in February. On the corporate front, Boeing fell slightly after saying it will cut more than 4,500 jobs by June to accelerate cost cuts. Technology giant Apple was higher after the Wall Street Journal reported that it will supply every Major League Baseball team with iPad Pro tablets to help teams and coaches use performance stats. Sonic Corp rallied after the fast food chain's second quarter earnings beat expectations, while Lululemon Athletica surged after its fourth quarter profit surpassed estimates. Carnival Corp also gained on the back of stronger-than-expected results. State Street Corp ended on the front foot after agreeing to buy GE Asset Management from General Electric for around $485m. On the downside, Valeant Pharmaceuticals International slid after it launched a credit facility amendment. In currencies, the US dollar was down 0.1% against the pound, 0.3% versus the euro and 0.2% against the yen. S&P 500 - Risers Carnival Corp. (CCL) $52.36 +5.48% MetLife Inc. (MET) $44.66 +5.18% Peabody Energy Corp. (BTU) $2.45 +4.47% Frontier Communications Co. (FTR) $5.63 +2.93% Halliburton Co. (HAL) $36.03 +2.88% Salesforce.Com Inc. (CRM) $74.29 +2.75% CONSOL Energy Inc. (CNX) $11.36 +2.71% Under Armour Inc. Class A (UA) $85.64 +2.55% Mattel Inc. (MAT) $33.60 +2.50% Activision Blizzard Inc. (ATVI) $34.06 +2.47% S&P 500 - Fallers Western Digital Corp. (WDC) $46.14 -4.51% Southwestern Energy Co. (SWN) $7.70 -3.75% Tesoro Corp. (TSO) $86.47 -3.62% Signet Jewelers Ltd (SIG) $119.66 -2.64% Range Resources Corp. (RRC) $32.36 -2.38% Eog Resources Inc. (EOG) $73.67 -2.36% Paychex Inc. (PAYX) $53.28 -2.22% NetApp Inc. (NTAP) $26.66 -2.20% NRG Energy Inc. (NRG) $12.94 -2.12% Regeneron Pharmaceuticals Inc. (REGN) $359.60 -2.12% Dow Jones I.A - Risers Visa Inc. (V) $76.79 +1.87% Apple Inc. (AAPL) $109.59 +1.77% McDonald's Corp. (MCD) $125.81 +1.48% 3M Co. (MMM) $166.75 +1.44% Cisco Systems Inc. (CSCO) $28.46 +1.28% JP Morgan Chase & Co. (JPM) $59.71 +1.15% General Electric Co. (GE) $31.83 +1.13% Wal-Mart Stores Inc. (WMT) $68.77 +1.09% Intel Corp. (INTC) $32.71 +1.02% Travelers Company Inc. (TRV) $117.47 +0.91% Dow Jones I.A - Fallers Boeing Co. (BA) $128.58 -1.76% International Business Machines Corp. (IBM) $148.39 -0.63% American Express Co. (AXP) $60.29 -0.51% Merck & Co. Inc. (MRK) $53.20 -0.23% Procter & Gamble Co. (PG) $82.68 -0.14% Unitedhealth Group Inc. (UNH) $129.65 -0.14% Johnson & Johnson (JNJ) $109.00 -0.13% Chevron Corp. (CVX) $95.25 -0.07% Verizon Communications Inc. (VZ) $54.03 -0.04% Exxon Mobil Corp. (XOM) $84.52 -0.01% Nasdaq 100 - Risers Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $54.18 +5.70% JD.com, Inc. (JD) $27.25 +3.14% Check Point Software Technologies Ltd. (CHKP) $86.34 +2.99% Mattel Inc. (MAT) $33.60 +2.50% Activision Blizzard Inc. (ATVI) $34.06 +2.47% Dollar Tree Inc (DLTR) $83.21 +2.29% Applied Materials Inc. (AMAT) $21.05 +2.23% Skyworks Solutions Inc. (SWKS) $77.88 +1.84% Broadcom Limited (AVGO) $156.93 +1.82% Apple Inc. (AAPL) $109.59 +1.77% Nasdaq 100 - Fallers Western Digital Corp. (WDC) $46.14 -4.51% Paychex Inc. (PAYX) $53.28 -2.22% NetApp Inc. (NTAP) $26.66 -2.20% Regeneron Pharmaceuticals Inc. (REGN) $359.60 -2.12% Netflix Inc. (NFLX) $102.18 -1.87% Endo International Plc (ENDP) $28.45 -1.76% Tesla Motors Inc (TSLA) $226.62 -1.53% Celgene Corp. (CELG) $98.80 -1.35% Mylan Inc. (MYL) $46.39 -1.32% Which way will the major markets be heading in 2016? Click here to Download the FREE 2016 Market Mover Report Newspaper Round Up Thursday newspaper round-up: Steel industry, energy, HSBC Tata's board met for seven hours on Tuesday in the company's elegant stone headquarters in central Mumbai but one insider said it was clear what the company had to do. "It was very straightforward, not dramatic," he said, as Tata signalled that, after nine years, several billion pounds of investment and continuing heavy losses, it was putting its British steel operations up for sale. - Financial Times Qatar's human rights record has come under renewed scrutiny ahead of its hosting of the 2022 football World Cup, with Amnesty International claiming in a report that workers who are building tournament infrastructure face abuse. Amnesty and other campaigners have long criticised working conditions for the mainly south Asian construction workers who account for most of the 90 per cent of expatriates within the workforce of the gas-rich state. - Financial Times The backers of an independent proposal to lengthen one of Heathrow's existing runways have become the latest group to warn that the Government risks a legal challenge if it backs rival plans to build a third landing strip. eathrow Hub, which is led by former Concorde pilot Captain Jock Lowe, has argued that worries about jet engine noise could provide opponents of another runway in west London with grounds to block the mooted project in the courts. - Telegraph The shape of what's left of the British steel industry bears the hallmarks of a century and a half of production, even if most of the original furnaces have long since gone cold. Ealy industrialists enjoyed a boom in demand for steel leading up to the First World War, but in a slump that echoes the sector's current woes, a glut of foreign supply meant the end for many producers in the 1920s. - Telegraph China's biggest listed steelmaker has said it expects to increase output by 20% in 2016, underlining the problems facing the British steel industry amid a global glut of supply. Even as China steps up efforts to slash its bloated steel making capacity amid a rise in anti-dumping complaints, Baosteel said it produced 22.6m tonnes of crude steel in 2015 and is likely to produce 27.1m tonnes this year. - Guardian A £2.8bn government scheme funded by energy bill payers which aims to keep the lights on in Britain has been condemned as wasteful, expensive and "unfit for purpose" in a damning report. The claims from the Institute of Public Policy Research (IPPR) comes on the day that one of the UK's biggest coal-fired power stations, Ferrybridge, formally closes, with several others threatening to follow. - Guardian The failure of HSBC to clean up its act after an anti-money-laundering deal with America's justice department has raised the possibility that US authorities may continue to monitor Britain's biggest bank. HSBC revealed in its annual report last month that Michael Cherkasky, the independent monitor appointed by regulators in the United States to oversee HSBC's clean-up, had expressed "significant concerns" about "instances of financial crime". - The Times The former boss of one of Britain's biggest energy suppliers has warned that the safety buffer separating Britain from power cuts will be uncomfortably slim for up to four years. Experts had already warned this winter that Britain was at its highest risk of blackouts in more than a decade before the announcement of a succession of closures of coal-fired power stations. - The Times ColmexPro - Trading for succes Learn the trading secrets wall street trading firms don't want you to know. Click here to download your free guide.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 30 March 2016 10:19:17 Monitor Quote Charts News CFD's Compare Brokers Free BB   Sponsored by: Barclays Award winning Barclays Stockbrokers Investment ISA Make sure you use your £15,240 ISA allowance by 5 April 2016. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks gain after dovish Yellen speech UK stocks rose on Wednesday as oil prices recovered and the markets assessed dovish remarks from Federal Reserve Chair Janet Yellen. Yellen on Tuesday said the central bank should proceed with caution on raising interest rates amid looming global risks to the US economy, including low oil prices and a slowdown in China. Speaking at the Economic Club of New York, she said the Fed will monitor a number of factors in its policy decision such as the pace of global growth, inflation, the strength of the dollar and commodities. "It seems that the markets interpreted Yellen's goals as somewhat unrealistic and reacted accordingly," said Rabobank. "The odds that the Fed may hike in April fell to virtually zero from already low 6% before her speech." Meanwhile, oil prices rebounded from the previous day's lows. Brent crude increased 1.4% to $39.73 per barrel and West Texas Intermediate rose 1.7% to $38.98 per barrel at 0857 GMT. Weekly US crude oil inventory data from the Department of Energy at 1630 BST will be closely followed amid concerns about the market. The US will see the private payrolls report from ADP at 1415 BST. The report comes ahead of the all-important non-farm payrolls on Friday. On the corporate front, mining stocks reversed declines from the prior day with Anglo American, BHP Billiton and Glencore among the biggest risers. William Hill was under the cosh after Morgan Stanley downgraded the stock to 'underweight' from equalweight' and cut the target to 290p from 425p following the group's profit warning last week. Premier Foods rallied after US spice giant McCormick increased its offer for the company from 60p to 65 per share, valuing the Mr Kipling to Oxo Cubes group at £1.5bn. Which way will the major markets be heading in 2016? Click here to Download the FREE 2016 Market Mover Report Market Movers FTSE 100 (UKX) 6,184.40 1.29% FTSE 250 (MCX) 16,931.37 1.04% techMARK (TASX) 3,126.05 1.04% FTSE 100 - Risers Anglo American (AAL) 512.60p 6.99% Standard Chartered (STAN) 467.80p 6.45% BHP Billiton (BLT) 788.80p 5.17% Rio Tinto (RIO) 1,956.00p 4.99% Glencore (GLEN) 150.85p 4.90% Fresnillo (FRES) 942.50p 3.06% BP (BP.) 354.20p 2.43% Antofagasta (ANTO) 464.90p 2.40% Johnson Matthey (JMAT) 2,747.00p 2.31% Old Mutual (OML) 195.60p 2.30% FTSE 100 - Fallers Marks & Spencer Group (MKS) 399.40p -1.26% Informa (INF) 692.50p -0.43% Legal & General Group (LGEN) 232.50p -0.04% SABMiller (SAB) 4,248.50p -0.04% easyJet (EZJ) 1,525.00p 0.00% Carnival (CCL) 3,550.00p 0.00% Babcock International Group (BAB) 949.00p 0.05% ITV (ITV) 243.50p 0.08% Next (NXT) 5,640.00p 0.09% Sky (SKY) 1,030.00p 0.19% FTSE 250 - Risers Aberdeen Asset Management (ADN) 272.00p 6.00% Centamin (DI) (CEY) 89.00p 5.89% Evraz (EVR) 87.05p 5.39% Ashmore Group (ASHM) 289.50p 4.25% Petrofac Ltd. (PFC) 906.50p 4.20% Vedanta Resources (VED) 324.00p 3.51% Kaz Minerals (KAZ) 163.50p 3.48% Tullow Oil (TLW) 199.70p 3.36% Investec (INVP) 502.50p 3.35% Weir Group (WEIR) 1,109.00p 3.26% FTSE 250 - Fallers Lancashire Holdings Limited (LRE) 533.00p -2.02% Dunelm Group (DNLM) 908.00p -2.00% Debenhams (DEB) 72.60p -1.89% Aldermore Group (ALD) 216.40p -1.64% William Hill (WMH) 330.70p -1.20% Mitie Group (MTO) 250.60p -0.63% Micro Focus International (MCRO) 1,563.00p -0.57% Hastings Group Holdings (HSTG) 169.10p -0.53% QinetiQ Group (QQ.) 228.90p -0.48% Assura (AGR) 52.65p -0.38% UK Event Calendar INTERIMS CAP-XX Limited, Diurnal Group, Sinclair Pharma INTERIM DIVIDEND PAYMENT DATE Darty, Genus FINALS Akers Biosciences, Inc. , Avengardco Investments Public Ltd GDR, Biome Technologies, Cathay International Holdings Ltd., Circle Holdings , Learning Technologies Group , London Capital Group Holdings, Manx Telecom , Personal Group Holdings, XLMedia ANNUAL REPORT Nichols EGMS Canadian General Investments Ltd., Edita Food Industries S.A.E. GDR (REGS) AGMS Aukett Swanke Group , Edita Food Industries S.A.E. GDR (REGS), Local Shopping REIT, Milestone Group, Non-Standard Finance, Sula Iron & Gold, Temple Bar Inv Trust The Brexit Report Stocks to buy and those to avoid prior to the June Referendum This report covers all the June Referendum facts so that you can capitalise efficiently on those opportunities presented over the next 3 months.  Brexit: Where will the action be? What's the worst that can happen? Previous referendum effects on the FTSE 100 Stocks to buy and those to avoid prior to 23 June Download your copy of The Brexit Report today! Losses can exceed deposits Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rise as investors welcome Yellen's dovish stance European stocks rose in early trade, taking their cue from an upbeat session on Wall Street as investors welcomed dovish comments from Federal Reserve Chair Janet Yellen. At 0845 BST, the benchmark Stoxx Europe 600 index was up 1.1%, Germany's DAX was 1% higher and France's CAC 40 was up 1.2%. At the same time, oil prices gained after a report by the American Petroleum Institute late on Tuesday showed US crude stocks likely rose by 2.6m barrels last week to 534.4m, which was less than the 3.3m analysts had expected. West Texas Intermediate was up 1.2% to $38.74 a barrel and Brent crude was 0.9% firmer at $39.50. "European markets are playing catch-up higher, after an ultra-dovish Janet Yellen detailed a much more cautious and patient approach to normalising US monetary policy than the market had been expecting," said Rebecca O' Keeffe, head of investment at stockbroker Interactive Investor. "This came as a particular surprise after the more hawkish comments over the past week from many of Yellen's colleagues and has helped to push the dollar sharply lower and risk appetite higher. Investors can only hope that the new data-dependent Fed will not be derailed by any unexpectedly 'good' economic data, starting on Friday with the latest employment report." In a speech at the Economic Club of New York, Yellen said the central bank would move cautiously when it came to further interest rate hikes, striking a dovish tone that contrasted greatly with the hawkish comments last week from San Francisco Fed President John Williams, Atlanta Fed President Dennis Lockhart and St Louis Fed President James Bullard. Yellen highlighted global economic uncertainty, including the slowdown in China and sliding oil prices as reasons behind the Fed's decision not to hike in January or March and said there would be "only gradual increases" going forward. "Considering the risk to the outlook, I consider it appropriate for the committee to proceed cautiously in adjusting policy," Yellen said, noting that growth this year was expected to be weaker than previously thought. A weaker dollar, which makes commodities more affordable for holders of other currencies, helped to push basic resources up, with the Stoxx 600 index for the sector 3.9% higher. Meanwhile, the corresponding sub-index for oil and gas was up 2.1% as oil prices advanced. In corporate news, German retailer Metro AG surged after announcing plans to split in two to boost the company's value. On the macroeconomic front, investors will eye the release of the ADP employment report in the US at 1315 GMT, which is widely seen as a pre-cursor to Friday's all-important nonfarm payrolls. Award winning Barclays Stockbrokers Investment ISA Use your ISA allowance by 5 April 2016. You don't have to make investment choices straight away - as long as you have the cash in place, that’s enough to secure the tax benefits of this year’s allowances. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA Newspaper Round Up Wednesday newspaper round-up: Brexit, EDF, Tata, Sports Direct, BoE Bank of America is warning senior staff not to use the word "Brexit" when talking to clients as it tries to steer clear of the raging debate over the UK's membership in the European Union. The US bank last week told managers "not to provide opinions, not to influence voters, not to assume a particular result and not to engage in campaigning" in the run-up to a June 23 vote on whether the UK should leave the EU. - Financial Times Senior engineers at French utility EDF have called for at least a two year delay at the controversial Hinkley Point nuclear project in the UK and recommended a redesign of the reactor technology. An internal white paper written by dissenting EDF engineers, which has been seen by the Financial Times, argues that Hinkley Point is so complex and untested that the company should announce a later completion date than the target of 2025. - Financial Times The steel industry was dealt a hammer blow on Tuesday as it emerged that Tata plans to completely withdraw from its British operation, putting thousands of jobs at risk. The Indian conglomerate's board decided to pull out of the UK after rejecting a turnaround plan for Port Talbot, the nation's biggest steelworks. The South Wales plant employs around 4,000 who face an uncertain future as Tata now seeks a buyer for its British steel assets. - Telegraph Janet Yellen, the head of US Federal Reserve, has vowed to move with extreme care before tightening monetary policy in the face of lingering global deflation and trouble in China. She swatted aside vociferous hawks on the Fed's voting committee (FOMC), more or less pledging to flood the economy with excess stimulus in order to guarantee a safety margin against any further deflationary shocks. - Telegraph Sports Direct has upped its stake in Findel to nearly 30%, in the latest stage of its battle to wrest control of the online specialist. The sports retailer, controlled by Mike Ashley, announced it had acquired contracts for difference - a form of derivative - relating to 12.57% of Findel's shares. That takes its total interest in Findel to 29.79% - just below the 30% level at which it would have to launch a full takeover bid. - Guardian The Bank of England has given David Cameron a significant boost ahead of the EU referendum by warning that a vote to leave risks causing a run on sterling, a credit crunch and higher interest rates for mortgage payers and businesses. Threadneedle Street said the closely fought campaign posed the "most significant near term" domestic risk to financial stability, after one of its key policy committees weighed up the consequences of Britain ending its 43-year relationship with the EU. - Guardian Twenty-five million savers with National Savings & Investments face a big fall in their incomes after the Treasury-controlled organisation said that it would cut interest rates, as well as reducing the number of premium bond prizes by nearly 300,000. NS&I announced yesterday that it would reduce the rates on five of its variable products, as well cutting the fixed interest part of its index-linked savings certificates. - The Times ColmexPro - Trading for succes Learn the trading secrets wall street trading firms don't want you to know. Click here to download your free guide.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 24 March 2016 17:54:08 Monitor Quote Charts News CFD's Compare Brokers Free BB   Sponsored by: Barclays Award winning Barclays Stockbrokers Investment ISA Make sure you use your £15,240 ISA allowance by 5 April 2016. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE ends lower as oil prices and UK retail sales fall The FTSE 100 closed lower on Thursday as a drop in oil prices weighed on sentiment and as official data revealed UK retail sales fell in March. Further somewhat hawkish comments from a top US central bank official added to the downbeat mood. By the end of trading, the Footsie was 92.63 points or 1.49% lower at 6,106.48 points. Oil prices were under pressure after the Energy Information Administration on Wednesday reported US crude stocks rose by 9.4m barrels to 532.5m barrels in the week ended 18 March. Analysts had forecast an increase of 2.5m barrels. Brent crude dipped 0.44% to $40.29 per barrel and West Texas Intermediate declined 0.93% to $39.42 per barrel at 1624 GMT. In economic data, UK retail sales dropped 0.4% month-on-month in February as cold weather delayed the purchases of spring and summer attire, the Office for National Statistics revealed. Analysts had forecast a 1.0% decrease in February, after rising the most in more than two years in January. "Shoppers tend to be tight-fisted after the January sales, but deeper concerns surrounding a possible Brexit might be making them think twice before spending," said Dennis de Jong, managing director at UFX.com. However, compared to the same month a year ago retail sales jumped 3.8% in February, surpassing estimates for a 3.5% gain, as low inflation and an increase in employment supported consumer spending. Across the Atlantic, the Commerce Department said US durable goods orders fell 2.8% on the previous month, slightly better than the consensus estimate for a 3% decrease and down from the revised increase of 4.2% the month before. Markit's purchasing managers' index on US manufacturing rose to 51.4 in March from 51.3 in February, missing expectations for a reading of 51.5 but above the 50 level that separates an expansion from a contraction. The Labor Department revealed US initial jobless claims rose by 6,000 to 265,000, versus economists' expectations for an increase to 268,000. St Louis Federal Reserve President James Bullard said on Thursday another US interest rate "may not be far off" as the labour market had improved since December. Bullard, who voted to support the Fed's decision in March to keep interest rates unchanged, said: "As it turns out, the decision to pause seems to have put more weight on the global and U.S. growth downgrade," he said in prepared remarks. As always, additional rate increases would be conditional on the economy evolving as expected, he explained. His remarks echoed those made since 18 March by at least three other Fed presidents. Among corporate stocks, Kingfisher Group rallied after its stock had its 'buy' rating reaffirmed by Jefferies Group on Thursday following the company's annual results a day earlier. Next slumped after the clothing retailer warned in its full-year results that the year ahead could be the toughest since 2008, with new guidance that included the possibility that profits could decline as much as 4.5%. Building materials group CRH gained following reports Northroad Capital Management reduced its position in the firm by 5.6% during the fourth quarter. Speculation was also still mounting over whether CRH would make a bid for LafargeHolcim's Indian assets, rumoured to be up for sale. Standard Chartered was down significantly as oil fell, and the Australia and New Zealand Banking Group warned the plunging resource prices were pushing up bad debts. It said provisions for bad debts would be more than expected at around AUD 900m as losses widened at miners and resource companies. Renishaw plunged after the engineering company issued a profit warning due to a downturn in Asia. Outsourcer Mitie declined on Thursday after it warned that full year revenues will be below the current range of market expectations. Which way will the major markets be heading in 2016? Click here to Download the FREE 2016 Market Mover Report Market Movers FTSE 100 (UKX) 6,117.07 -1.32% FTSE 250 (MCX) 16,691.02 -1.03% techMARK (TASX) 3,084.01 -0.90% FTSE 100 - Risers Paddy Power Betfair (PPB) 9,300.00p 0.59% Capita (CPI) 1,034.00p 0.58% CRH (CRH) 1,949.00p 0.57% Kingfisher (KGF) 373.30p 0.57% London Stock Exchange Group (LSE) 2,832.00p 0.43% Rolls-Royce Holdings (RR.) 680.50p 0.22% TUI AG Reg Shs (DI) (TUI) 988.50p 0.10% SSE (SSE) 1,460.00p -0.00% Carnival (CCL) 3,520.00p -0.06% Compass Group (CPG) 1,214.00p -0.08% FTSE 100 - Fallers Next (NXT) 5,655.00p -15.09% Standard Chartered (STAN) 440.60p -7.75% Associated British Foods (ABF) 3,273.00p -5.35% Prudential (PRU) 1,275.50p -5.24% Marks & Spencer Group (MKS) 392.50p -4.92% Anglo American (AAL) 501.60p -4.18% Ashtead Group (AHT) 825.00p -4.13% Tesco (TSCO) 190.35p -3.64% Aviva (AV.) 455.60p -3.56% Legal & General Group (LGEN) 231.20p -3.34% FTSE 250 - Risers Vesuvius (VSVS) 331.40p 4.05% Vectura Group (VEC) 164.30p 3.86% Euromoney Institutional Investor (ERM) 909.00p 3.71% Ocado Group (OCDO) 310.70p 3.19% Fidessa Group (FDSA) 2,404.00p 2.96% Diploma (DPLM) 747.00p 2.33% Riverstone Energy Limited (RSE) 816.00p 2.19% Evraz (EVR) 90.90p 2.02% Circassia Pharmaceuticals (CIR) 265.40p 2.00% Allied Minds (ALM) 461.50p 1.76% FTSE 250 - Fallers Renishaw (RSW) 1,880.00p -8.25% Mitie Group (MTO) 245.60p -7.11% Kaz Minerals (KAZ) 165.50p -6.76% Countrywide (CWD) 364.00p -6.09% Aberdeen Asset Management (ADN) 254.30p -5.95% Brown (N.) Group (BWNG) 321.00p -5.62% Tullow Oil (TLW) 200.00p -5.26% Big Yellow Group (BYG) 773.00p -4.27% SEGRO (SGRO) 400.20p -3.98% The Brexit Report Stocks to buy and those to avoid prior to the June Referendum This report covers all the June Referendum facts so that you can capitalise efficiently on those opportunities presented over the next 3 months.  Brexit: Where will the action be? What's the worst that can happen? Previous referendum effects on the FTSE 100 Stocks to buy and those to avoid prior to 23 June Download your copy of The Brexit Report today! Losses can exceed deposits Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks move lower ahead of holiday break European equity markets fell into the red ahead of the Easter holidays, with basic resources and energy stocks under the cosh as metals and oil prices declined. The benchmark DJ Stoxx Europe 600 finished 1.46% lower to 335.10, Germany's DAX surrendered 1.71% to end at 9,851.35 and France's CAC 40 was off 2.13%. At the same time, oil prices continued to slide after a report from the US Department of Energy showed crude stockpiles rose by 9.4m barrels in the previous week - a much bigger increase than analysts had expected. West Texas Intermediate was down 0.658% to $39.53 a barrel while Brent crude was 0.297% weaker at $40.35. The Stoxx 600 oil and gas index fell 2.78 points or 1.05% to 261.29, while the sub-index for basic resources was down 1.48% or 3.93 points at 261.80 as metals prices dropped and that for banks by -2.04% to 146.69. "The culprits are not difficult to find - a rising US dollar and weaker oil prices. The former continues to benefit from Fed policymaker comments that seem to suggest the dovish view of the recent FOMC meeting was not perhaps the correct one," said Chris Beauchamp, senior market analyst at IG. "Oil markets meanwhile seem to have rediscovered the massive supply overhang that, for various reasons, did not seem to matter over the past five weeks. Dovish central banks and rising oil prices have been the twin struts on which this rally is built - if these are falling apart then the new quarter may not begin well for stock markets." Although last week's statement from the Federal Reserve was dovish, Fed officials have since expressed a much more bullish tone. On Wednesday, St Louis Fed President James Bullard added to comments from other Fed officials as he pointed to the possibility of at least two rate hikes this year, with the first potentially next month. The dollar got a boost from these comments, in turn weighing on basic resources as a strong greenback makes dollar-denominated commodities more expensive for buyers holding other currencies. Corporate news was thin on the ground ahead of the Easter break. In London, clothing retailer Next tumbled after it said full year profits were at the upper end of expectations but warned the year ahead could be the toughest since 2008. Elsewhere, the Italian banking sector was on the back foot after Banco Popolare and Banca Popolare di Milano agreed to merge on Wednesday. Acting as a backdrop, US capital investment in durable goods fell back into decline in February, after a spike in January, according to data from the Commerce Department. Durable goods orders fell 2.8% on the previous month, slightly better than the -3.0% consensus estimate, although it was much worse than the downwardly revised increase of 4.20% for the month before. The number of Americans filing for unemployment benefits rose a little last week, according to the Labor Department. US initial jobless claims rose by 6,000 to 265,000, versus economists' expectations for an increase to 268,000. Award winning Barclays Stockbrokers Investment ISA Use your ISA allowance by 5 April 2016. You don't have to make investment choices straight away - as long as you have the cash in place, that’s enough to secure the tax benefits of this year’s allowances. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA US Market Report US open: Stocks decline as oil prices edge lower US stocks were under pressure on Thursday as oil prices tumbled and as US economic data came in mixed. At 1456 GMT, the Dow Jones Industrial Average fell 0.36%, the S&P 500 slid 0.41% and the Nasdaq dropped 0.12%. Oil prices dropped after a report from the US Department of Energy showed crude stockpiles rose by 9.4m barrels in the previous week - a much larger increase than the 2.5 million barrels analysts had expected. West Texas Intermediate crude slipped 2.7% to $38.72 per barrel and Brent dipped 1.9% to $39.68 per barrel at 1502 GMT. In economic data, the Commerce Department said US durable goods orders fell 2.8% on the previous month, slightly better than the consensus estimate for a 3% decrease and down from the revised increase of 4.2% the month before. Markit's purchasing managers' index on US manufacturing rose to 51.4 in March from 51.3 in February, missing expectations for a reading of 51.5 but above the 50 level that separates an expansion from a contraction. The Labor Department revealed US initial jobless claims rose by 6,000 to 265,000, versus economists' expectations for an increase to 268,000. St Louis Federal Reserve President James Bullard said on Thursday another US interest rate "may not be far off" as the labour market had improved since December. Bullard, who voted to support the Fed's decision in March to keep interest rates unchanged, said: "As it turns out, the decision to pause seems to have put more weight on the global and U.S. growth downgrade," he said in prepared remarks." The dollar pushed higher following the comments as market participants readjusted their rate-hike expectations. At 1508 GMT the dollar rose 0.19% versus the euro and increased 0.20% but fell 0.08% against the pound. In corporate news, Yahoo's shares declined following a report that hedge fund Starboard Value LP was looking to remove the entire board of the company. Signet Jewelers gained after reporting a 19% increase in quarterly profit that surpassed expectations. Award winning Barclays Stockbrokers Investment ISA Use your ISA allowance by 5 April 2016. You don't have to make investment choices straight away - as long as you have the cash in place, that’s enough to secure the tax benefits of this year’s allowances. The value of investments can fall, tax rules may change and their effects depend on individual circumstances. Find out more about a Barclays Stockbrokers Investment ISA Broker Tips Broker tips: Kingfisher, Mitie, gold stocks Societe Generale upgraded B&Q owner Kingfisher to 'hold' from 'sell' and lifted the price target to 359p from 333p following the company's results on Wednesday. The bank said some early signs of recovery in the French home improvement market, together with a weaker reporting currency (UK pound), make Kingfisher's profit forecasts look better supported over the year ahead than they have been for a while. "The UK trading outlook remains solid for the short - term, although we will be on the alert for any post-April stamp duty change impact on the UK housing market as well as the 'Brexit' risk," it said. SocGen noted its earnings per share estimates have barely changed since November last year. It said the weaker pound, above-the-line restructuring costs and a better-than-expected divisional profit outcome for the year to January 2016 have had a net neutral impact. "As a collection of mostly mature operating companies in mainly ex-growth markets, Kingfisher has little choice but to seek product and operating synergies in order to enhance the margin. "The aim of offering customers better-designed, more inspirational and lower priced product could be the single most beneficial outcome of the five-year 'ONE Kingfisher' plan, if it is achieved." However, SocGen said execution risks remain high and five years is a long time to wait for the full £500m P&L benefit. Mitie Group's 'buy' rating was reiterated by Canaccord Genuity despite the company warning that full year revenues will be below the current range of market expectations of £2.35bn. The outsourcing firm said it has experienced revenue shortfalls in the second half of the year as some work has been delayed or cancelled due to increased economic pressures and uncertainty. Still, Mitie has been managing its cost based and focusing on maintaining margins while continuing to invest for the long term, so profits will be in line with consensus forecasts of between £125m to £133m. Canaccord said the stock "remains at discount to sector peers having been hindered by several years of weak earnings momentum". "A more cautious tone through full year 2017 may allow for a period of more steady delivery against expectations and the opportunity for the shares to re-rate." The broker cut its target to 300p from 320p. It also said its forecasts for 2016 results were in line with the Mitie's statement, resulting in an EPS reduction of 3%. Canaccord also moved expectations for 2017 earnings down by 8% to reflect the "likelihood of lower organic growth". "Whilst the space continues to present attractive opportunities, organic growth has been under some pressure in the latest reporting season and contracts continue to require a greater working capital commitment," Canaccord added. Goldman Sachs downgraded Gold Fields and Fresnillo as it took a look at gold producers, but kept its positive stance on AngloGold and Centamin, saying fully-covered dividends and sound balance sheets were a rarity in the mining sector. It cut South Africa's Gold Fields to 'sell' from 'neutral' saying the valuation was stretched following the recent rally in the shares. It said that with South Deep potentially continuing to underperform and Australian mines nearing the end of life, Gold Fields is likely to need either significant capex to sustain the Australian mines or an acquisition - both of which could depress investor returns. It cut London-listed Fresnillo to 'sell' from 'buy' to reflect the disappointing grade at the Fresnillo mine and the stock's significant premium to both peers and its historical average. "The Fresnillo mine continues to underperform on grade due to vein narrowing faster, natural decline in grade, and delay in infrastructure installation. Although the company is taking measures to counter the decline we see risks skewed to the downside." The bank kept its 'buy' rating on AngloGold andCentamin, although it removed the latter from its Conviction List after the recent rally. It said the market under-appreciates Centamin's low cost position and its ability to generate cash and potentially ramp up investor returns. "Although we see limited imminent catalysts for the stock, we believe it still has another leg to move up as the market underappreciates its capacity to generate FCF from its low-cost asset, Sukari, and thus increase shareholder returns." Goldman was bullish on the sector in general. It noted gold has been one of the best performing commodities year-to-date in a risk-off market and given tightening financial conditions in the US, which have led market participants to scale back their rate hike expectations. GS said gold stocks have already been through the pain of capex/cost cuts and balance sheet restructuring, whereas for industrials, the process is just beginning. ColmexPro - Trading for succes Learn the trading secrets wall street trading firms don't want you to know. Click here to download your free guide.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49