| | | | | Award-winning ISA investing with The Share Centre | | We’re proud to have won ‘Self-select ISA provider of the year’ at the 2015 ADVFN Awards, due to our outstanding customer service, fixed account fees and dealing commission from £7.50 per deal.
Capital at risk. Tax allowances and ISA benefits could change.
Learn why The Share Centre keeps winning awards | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks rally ahead of BoE policy announcement London stocks rallied on Thursday as investors continued to digest the previous day's UK Budget and UK jobs data and looked towards the Bank of England's policy announcement.
Chancellor George Osborne revealed the details of the Budget 2016 on Wednesday which included plans to cut corporation tax to 17% by 2020 from 20% and to raise the individual tax free personal earnings allowance to £11,500.
Osborne also said Britain is on course to achieve a surplus of £10.4bn by 2019-20 as it cuts spending and reduces debt.
He said the Office for Budget Responsibility downgraded its forecast of UK economic growth in 2015 from 2.4% to 2.2% It revised GDP downwards for this and following years - from 2.4% to 2% in 2016, from 2.5% to 2.2% in 2017, from 2.4% to 2.1% in 2018 and from 2.3% to 2.1% in both 2019 and 2020.
A report on UK employment was also well received as it showed a fall in unemployment and greater-than-expected pick up in wage growth.
Meanwhile, the Federal Reserve decided to keep interest rates unchanged, as expected, and said it now expects to raise rates twice this year. In December, when the Fed raised rates for the first time in nearly a decade, it said it expected to increase rates four times this year.
"Proceeding cautiously will allow us to verify that the labour market is continue to strength given the economic risk from abroad," said the Chair of the Federal Reserve, Janet Yellen, speaking at a press conference after the announcement.
The attention now turns to the Bank of England's policy decision at 1200 GMT. The central bank is anticipated to hold interest rates steady amid signs of a global economic slowdown, low inflation and political uncertainty surrounding the outcome of Britain's 23 June referendum on its membership in the European Union.
On the company front, mining stocks were the biggest risers as metal prices surged. Anglo American, Glencore, Antofagasta and BHP Billiton were topping the FTSE 100 in morning trade.
Rio Tinto was also higher after saying chief executive Sam Walsh will retire from the business on 1 July 2016 and will be succeeded by the chief executive of the copper and coal division Jean-Sébastien Jacques.
GlaxoSmithKline's shares dipped on news chief executive Andrew Witty has decided to retire from the company at the end of March next year.
Crest Nicholson gained after saying the trading environment remains positive, with sales up to 11 March "correspondingly strong".
Kier Group advanced as it posted a 27% increase in underlying profit and a 32% jump in revenue in the last six months of 2015. |
| | FTSE 100 Mining Stocks | | With blue chip miners rallying, is now the time to invest? A terrible start to the year for equities has actually seen all of the blue chip miners rally. Analysts and investors now expect to see profits hit and the miners' earnings reports are largely in line with those expectations. Download our FTSE 100 Mining Stocks Report covering all you need to know about the current state of the mining sector. Losses can exceed deposits |
| Market Movers
FTSE 100 (UKX) 6,211.91 0.59%
FTSE 250 (MCX) 16,869.11 0.69%
techMARK (TASX) 3,100.70 0.15%
FTSE 100 - Risers
Anglo American (AAL) 542.20p 10.05%
Glencore (GLEN) 155.60p 7.83%
Antofagasta (ANTO) 533.00p 7.37%
BHP Billiton (BLT) 818.20p 7.18%
Fresnillo (FRES) 967.50p 5.68%
Rio Tinto (RIO) 2,033.00p 5.36%
Randgold Resources Ltd. (RRS) 6,500.00p 5.26%
Aberdeen Asset Management (ADN) 285.00p 3.00%
Berkeley Group Holdings (The) (BKG) 3,245.00p 2.98%
Barratt Developments (BDEV) 589.50p 2.97%
FTSE 100 - Fallers
British American Tobacco (BATS) 4,006.50p -2.68%
InterContinental Hotels Group (IHG) 2,750.00p -2.00%
Hammerson (HMSO) 566.00p -1.74%
easyJet (EZJ) 1,494.00p -1.45%
Worldpay Group (WI) (WPG) 278.10p -1.42%
HSBC Holdings (HSBA) 451.60p -1.22%
Diageo (DGE) 1,882.00p -1.21%
Shire Plc (SHP) 3,615.00p -1.09%
Carnival (CCL) 3,503.00p -0.82%
Sage Group (SGE) 598.50p -0.75%
FTSE 250 - Risers
Centamin (DI) (CEY) 98.50p 7.53%
OneSavings Bank (OSB) 273.00p 7.40%
Acacia Mining (ACA) 273.50p 6.09%
Vedanta Resources (VED) 316.20p 5.82%
Tullow Oil (TLW) 216.70p 4.58%
Ophir Energy (OPHR) 85.90p 4.06%
Investec (INVP) 504.50p 3.89%
Henderson Group (HGG) 265.50p 3.83%
Hastings Group Holdings (HSTG) 172.30p 3.80%
Evraz (EVR) 83.80p 3.78%
FTSE 250 - Fallers
AO World (AO.) 164.60p -3.91%
Barr (A.G.) (BAG) 525.00p -2.87%
Allied Minds (ALM) 371.90p -2.26%
Jimmy Choo (CHOO) 132.00p -2.22%
CLS Holdings (CLI) 1,509.00p -2.08%
Playtech (PTEC) 820.00p -1.74%
LondonMetric Property (LMP) 162.00p -1.64%
Mitchells & Butlers (MAB) 269.10p -1.46%
Millennium & Copthorne Hotels (MLC) 411.80p -1.41% |
| | UK Event Calendar | | Thursday 17 March
INTERIMS
Brooks Macdonald Group, Kier Group, Vernalis plc
INTERIM DIVIDEND PAYMENT DATE
Penna Consulting
INTERIM EX-DIVIDEND DATE
AdEPT Telecom, Clinigen Group, Close Brothers Group, Craneware, Digital Globe Services Ltd (DI), Foresight Solar & Infrastructure VCT, Foresight Solar & Infrastructure VCT , Haynes Publishing Group, London Finance & Investment Group, Ricardo, Trifast, Tristel, Waterman Group, Wilmington
QUARTERLY PAYMENT DATE
M Winkworth
QUARTERLY EX-DIVIDEND DATE
Alpha Real Trust Ltd., Assura
Q4
PJSC Megafon GDR (Reg S)
FINALS
Arbuthnot Banking Group, Capital Drilling Ltd. (DI), Federal Grid Company Of Unified Energy System, Public Joint-Stock Company GDR (Reg S), Frutarom Industries Ltd GDR (Reg S), Gulf Keystone Petroleum Ltd.(DI), PJSC Megafon GDR (Reg S), Premier Farnell, PV Crystalox Solar, Quarto Group Inc., Safestyle UK , Soco International, Spire Healthcare Group
ANNUAL REPORT
CRH, Secure Trust Bank, Ted Baker
AGMS
Banco Santander S.A., Crest Nicholson Holdings, Henderson Opportunities Trust, MySquar Limited (DI), Octopus Eclipse VCT 1, Tern
FINAL EX-DIVIDEND DATE
32Red, Apax Global Alpha Limited , Athelney Trust, British American Tobacco, Dairy Farm International Holdings Ltd. (Singapore), Essentra, Glanbia, Hammerson, Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Strategic Holdings Ltd. (Singapore), Law Debenture Corp., LondonMetric Property, Low & Bonar, Mandarin Oriental International (Singapore), Millennium & Copthorne Hotels, Randgold Resources Ltd., Regional REIT Limited, Somero Enterprises Inc. (DI) |
| | Award-winning ISA investing with The Share Centre | | We’re proud to have won ‘Self-select ISA provider of the year’ at the 2015 ADVFN Awards, due to our outstanding customer service, fixed account fees and dealing commission from £7.50 per deal.
Capital at risk. Tax allowances and ISA benefits could change.
Learn why The Share Centre keeps winning awards |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks in the black as Fed signals slower pace of rate hikes European stocks rose in early trade as investors welcomed the Federal Reserve's decision to move more slowly on interest-rate hikes.
At 0850 GMT, the benchmark Europe Stoxx 600 index was up 0.3%, Germany's DAX was up 0.4% and France's CAC 40 was 0.8% higher.
Oil prices were also in the black, with West Texas Intermediate 2.3% firmer at $39.36 a barrel and Brent crude up 1.6% at $40.98.
"European markets have opened positively in early trading with miners leading the way as Brent Crude continues to climb," said Andy McLevey, head of dealing at stockbroker Interactive Investor.
"Investors may find their appetite for risk increasing as the Fed leave rates unchanged and signalled fewer rate hikes in the coming months however with concerns remaining surrounding the health and growth prospects of the global economy it won't be for the faint hearted and the potential for short - term volatility remains."
On Wednesday, the Federal Reserve left the target range for the benchmark federal funds rate unchanged at 0.25% to 0.5%, as widely expected, and scaled back its forecasts on the path of interest rates.
The Fed, which lifted interest rates for the first time in nearly a decade back in December, said rate rises this year would be more gradual than expected, with two on the cards versus the four projected at the end of last year.
"Proceeding cautiously will allow us to verify that the labour market is continue to strength given the economic risk from abroad," said chairwoman Janet Yellen.
"Such caution is appropriate given short - term interest rates are still near zero, which means monetary policy has greater scope to respond to upside than downside changes in the outlook," she said.
The Fed's decision was in contrast to recent moves from the Bank of Japan and the European Central Bank, both of which took interest rates into negative territory.
The US central bank said that although the labour market was improving, it was still looking for inflation to reach its 2% target and reckoned the economy would continue to expand at a moderate pace.
Investors in the UK will be playing close attention to the Bank of England's rate announcement at 1200 GMT.
The central bank is widely expected to leaves interest rates and the asset purchase programme unchanged at 0.5% and £375bn.
In corporate news, Rio Tinto was higher on news chief executive Sam Walsh will retire in July after three years in the job.
GlaxoSmithKline was little changed after saying chief executive Sir Andrew Witty will retire next year.
Cement maker LafargeHolcim rallied after its full-year earnings beat analysts' expectations.
Deutsche Lufthansa slid after it forecast weak earnings growth for 2016. |
| | 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 hit high as Fed eyes only two hikes in 2016 US stock indices closed at their highest level this year after the Federal Reserve held back from any change to interest rates and oil prices bounced back.
Rising 0.43% to finish at 17,325.76, the Dow Jones and the S&P 500, up 0.56% to 2,027.22, both completed their highest closes of 2016, while the Nasdaq was up 0.75% to 4,763.97, its highest level since the first week of January.
The Federal Open Markets Committee kept the target range for the fed funds rate unchanged but the decision was not unanimous, with hawkish Kansas Fed president Esther George a lone dissenter.
Nonetheless, the 'dot plot' interest rate projections submitted by the Fed's policymakers revealed that they now only anticipated two further interest rate hikes in 2016, versus as many as four at the end of last year.
The Committee still expects to raise rates four times next year on the assumption that headwinds from abroad will abate.
With read GDP forecasts trimmed for 2016 and 2017, the Fed acknowledged the softness in business investment, which in her press conference chairwoman Janet Yellen attributed to low oil prices.
With the unemployment forecasts reduced for 2017 and 2018, the FOMC is confident that inflation will move back to target in the next two or three years.
As well as boosting stocks, 10-year US treasury yields fell below 1.92% and the EUR/USD exchange rate climbed above 1.12.
"George's dissent suggests that the hawks are getting impatient and have started pushing for a rate hike," noted analysts at Rabobank.
"Although Yellen said that April is a live meeting, we doubt that the doves will be ready for a rate hike within the next six weeks. However, by June there may very well be a majority for a hike."
Earlier, the US consumer price index showed a 1.0% increase in February from a year ago, beating forecasts for a 0.9% increase, down from January's 1.4% year-on-year gain.
On the month, CPI fell 0.2% in February as expected, compared to 0% month-on-month in January.
At the 'core' level, stripping out food and energy prices, CPI rose by 0.3% month-on-month (consensus: 0.2%) and by 2.3% versus a year ago (consensus: 2.2%).
This followed January's rise in the core personal consumption expenditure (PCE) measure of inflation to 1.7%, close to the Fed's 2% target. However, in its new projections core PCE inflation at end-2016 has remained unchanged at 1.6%, baffling economists.
Pantheon Macroeconomics questioned the Fed's taking action predicated on this "breathtaking" assumption: "This just makes no sense at all. Core PCE inflation is accelerating, following the surge in core CPI, and we expect it to breach the 2% target by the fall, if not sooner," said chief economist Ian Shepherdson.
"The Fed expects only a very gradual glidepath to 2% by end-2018. In short wishful thinking appears to have taken the place of reality-based forecasting."
Capital Economics agreed that Fed officials seemed to be placing "too much importance" on the apparent decline in inflation expectations.
Oil prices were lifted as reports emerged that major producers would meet to discuss a potential slowing of output.
Qatari oil minister Mohammed Bin Saleh Al-Sada said that producers from and outside the Organization of the Petroleum Exporting Countries will meet on 17 April in Qatar to discuss proposals to address the supply glut.
The US Energy Information Administration also revealed an increase in crude stockpiles of 1.3m barrels in the US last week, below the expected 3.4m build.
West Texas Intermediate jumped 5.9% to $38.50 per barrel and Brent crude increased 4.0% to $40.28 after equity markets had closed in New York.
In company news, Peabody Energy tanked after saying it may not have enough liquidity to continue operating.
Chipotle Mexican Grill was also in the red after it forecast a first quarter net loss.
On the upside, software firm Oracle Corp rose after its third-quarter results beat analysts' expectations.
S&P 500 - Risers
Freeport-McMoRan Inc (FCX) $10.22 +10.25%
Southwestern Energy Co. (SWN) $7.90 +9.27%
Devon Energy Corp. (DVN) $26.22 +8.84%
United States Steel Corp. (X) $15.45 +8.19%
Williams Companies Inc. (WMB) $17.44 +7.99%
ONEOK Inc. (OKE) $29.51 +6.46%
Alcoa Inc. (AA) $9.74 +6.33%
Newfield Exploration Co (NFX) $33.49 +5.18%
ConocoPhillips (COP) $41.87 +5.12%
Range Resources Corp. (RRC) $33.44 +5.06%
S&P 500 - Fallers
Peabody Energy Corp. (BTU) $2.19 -45.39%
Fossil Group Inc (FOSL) $44.62 -4.76%
Vertex Pharmaceuticals Inc. (VRTX) $79.30 -4.26%
Allergan plc (AGN) $272.76 -3.62%
Charles Schwab Corp. (SCHW) $26.92 -2.96%
Alexion Pharmaceuticals Inc. (ALXN) $130.84 -2.68%
Rowan Companies plc (RDC) $16.25 -2.34%
Fifth Third Bancorp (FITB) $16.84 -2.04%
Bank of America Corp. (BAC) $13.31 -1.92%
Huntington Bancshares Inc. (HBAN) $9.48 -1.86%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $74.34 +2.62%
Microsoft Corp. (MSFT) $54.35 +1.42%
Apple Inc. (AAPL) $105.97 +1.33%
International Business Machines Corp. (IBM) $144.79 +1.28%
United Technologies Corp. (UTX) $97.49 +1.25%
Chevron Corp. (CVX) $95.40 +1.20%
Verizon Communications Inc. (VZ) $53.21 +1.03%
Boeing Co. (BA) $127.57 +0.96%
Cisco Systems Inc. (CSCO) $27.88 +0.80%
American Express Co. (AXP) $59.70 +0.79%
Dow Jones I.A - Fallers
Pfizer Inc. (PFE) $29.04 -1.69%
Goldman Sachs Group Inc. (GS) $150.54 -0.98%
Merck & Co. Inc. (MRK) $51.94 -0.92%
JP Morgan Chase & Co. (JPM) $58.92 -0.47%
Coca-Cola Co. (KO) $45.05 -0.42%
General Electric Co. (GE) $30.17 -0.36%
Johnson & Johnson (JNJ) $107.41 -0.32%
Wal-Mart Stores Inc. (WMT) $67.99 -0.15%
Nasdaq 100 - Risers
Charter Communications Inc. (CHTR) $198.16 +6.01%
Ctrip.Com International Ltd. Ads (CTRP) $42.61 +4.54%
Endo International Plc (ENDP) $33.91 +4.11%
Viacom Inc. Class B (VIAB) $40.26 +3.71%
Vimpelcom Ltd Ads (VIP) $3.97 +3.66%
Liberty Global plc Series A (LBTYA) $37.59 +3.53%
Liberty Global plc Series C (LBTYK) $36.76 +3.46%
Discovery Communications Inc. Class A (DISCA) $28.55 +3.22%
Monster Beverage Corp (MNST) $136.18 +3.18%
Nvidia Corp. (NVDA) $33.10 +2.99%
Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $79.30 -4.26%
Biomarin Pharmaceutical Inc. (BMRN) $80.34 -3.70%
Incyte Corp. (INCY) $63.77 -2.85%
Alexion Pharmaceuticals Inc. (ALXN) $130.84 -2.68%
Micron Technology Inc. (MU) $10.72 -1.20%
QUALCOMM Inc. (QCOM) $51.30 -0.64%
Tractor Supply Company (TSCO) $89.56 -0.59%
Illumina Inc. (ILMN) $149.20 -0.52%
Amazon.Com Inc. (AMZN) $574.27 -0.48% |
| | Is Bitcoin a Viable Investment? | | In our report, Bitcoin: The Investment Case, we unpack the relevance, hype cycle, value scenarios and bigger picture. How does Bitcoin fare as a feasible investment? Download the report now to find out. |
| | Newspaper Round Up | | Thursday newspaper round-up: Budget, PwC, Asda, Barclays Small businesses were big winners in the Budget, with a host of tax cuts and other support. Emma Jones, founder of Enterprise Nation, a small business adviser, described it as "incredible". "There's reduced corporate tax, tax relief for sharing economy and no business rates for 600,000 small businesses." The Federation of Small Businesses also said the measures were welcome. - Financial Times
Professional services firm PwC has become the first business to take up space in a vast new redevelopment of Birmingham city centre, three years before the first building is finished. The company will move in to Paradise Birmingham in early 2019, having agreed to relocate its 1,400 members of staff in Birmingham to a brand new office. - Telegraph
Hurt your friends and hug your enemies: George Osborne's Budget strategy at least had the virtue of originality. Those multinationals and business lobbyists who have been so supportive of the Government's anti-Brexit campaign must be ruing the day they signed their names on the dotted line, staking their reputations on such a divisive cause. They have been rewarded with a major tax assault by an ungrateful Chancellor, with the UK's largest firms set to lose heavily from a series of radical changes that will redefine in arbitrary and often incoherent ways how companies are levied. The cost will be at least £9bn over the next few years, inflicting profound damage on Britain's competitiveness. - Telegraph
Retailers have warned that an overhaul of the controversial business rates system that will lead to a £7bn tax cut for small businesses is not enough to help high streets across the country. George Osborne announced in the budget that 600,000 small businesses would no longer have to pay business rates and that he would change how the levy was calculated for those who still had to pay it. - Guardian
Asda has confirmed plans to cut up to 500 jobs in stores and 250 at its head office in Leeds as the retailer battles to protect profits while sales slide. The supermarket chain is to close staff canteens in all stores and axe some shopfloor services such as photo processing and pizza-making as part of a turnaround plan called Project Renewal. - Guardian
Barclays is being sued by the former boss of Tullett Prebon over accusations that the bank failed to transfer hundreds of thousands pounds of the financier's money into his investment fund so that he missed out on a more than doubling in its value. Terry Smith, founder and chief executive of Fundsmith, which manages more than £5 billion on behalf of himself and other investors, is claiming nearly £220,000 from Barclays for negligence after it took nearly three years to transfer money from a company controlled by him to buy additional units in the fund. - The Times |
| | Open Trading Account | | Thinking about trading binary options? Test out a free $10,000 Demo account with iq option. Click Here to start trading | | |
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 | |
No comments:
Post a Comment