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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 rise as traders process busy week London stocks gained on Friday as the market mulled over a busy week that included central bank policy decisions, a raft of economic data and the UK Budget 2016.
With little on Friday's economic calendar, investors have been left to digest proceedings earlier in the week.
The Bank of England, Bank of Japan and the Federal Reserve all decided to hold fire on policy change this week, highlighting worries about the slowdown in the global economy.
On Wednesday, Chancellor George Osborne outlined the UK Budget 2016 which included spending cuts, lower corporation tax and plans to reach a £10bn surplus by 2020.
In economic data, this week saw UK jobs data and US inflation, both of which showed some improvements.
Oil was also a continued focus with prices wavering throughout the week. At 0859 GMT, Brent crude fell 0.5% to $41.31 per barrel and West Texas Intermediate dropped 0.47% to $40.01 per barrel.
On the company front, shares in BT Group rose after it announced the appointment of Simon Lowth as group finance director.
Berkeley Group was in the red despite saying it expected current year results to be at the top end of expectations, after absorbing approximately £25m of accelerated operating expenses.
Associated British Foods rallied as it said it was still in talks over the potential acquisition of the remaining shares of Durban-based Illovo Sugar Ltd it does not already own. |
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| Market Movers
FTSE 100 (UKX) 6,211.03 0.16%
FTSE 250 (MCX) 16,895.88 0.28%
techMARK (TASX) 3,088.96 0.32%
FTSE 100 - Risers
Ashtead Group (AHT) 869.00p 1.64%
Royal Bank of Scotland Group (RBS) 234.30p 1.47%
Lloyds Banking Group (LLOY) 70.28p 1.41%
Smiths Group (SMIN) 1,091.00p 1.39%
St James's Place (STJ) 940.50p 1.29%
Aberdeen Asset Management (ADN) 292.70p 1.28%
Schroders (SDR) 2,750.00p 1.25%
3i Group (III) 452.00p 1.23%
Shire Plc (SHP) 3,611.00p 1.21%
Standard Chartered (STAN) 464.40p 1.17%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 6,530.00p -1.88%
Fresnillo (FRES) 990.50p -1.64%
Antofagasta (ANTO) 529.00p -1.58%
Mondi (MNDI) 1,366.00p -1.37%
Berkeley Group Holdings (The) (BKG) 3,217.00p -1.23%
easyJet (EZJ) 1,472.00p -0.88%
Royal Dutch Shell 'B' (RDSB) 1,723.50p -0.86%
Royal Dutch Shell 'A' (RDSA) 1,718.00p -0.69%
BP (BP.) 357.80p -0.50%
Sainsbury (J) (SBRY) 280.20p -0.46%
FTSE 250 - Risers
OneSavings Bank (OSB) 318.30p 5.57%
Clarkson (CKN) 2,225.00p 5.45%
Evraz (EVR) 88.90p 2.60%
BGEO Group (BGEO) 1,983.00p 2.59%
Big Yellow Group (BYG) 782.00p 2.02%
888 Holdings (888) 178.50p 1.94%
Playtech (PTEC) 832.00p 1.84%
Saga (SAGA) 188.60p 1.84%
Just Eat (JE.) 378.80p 1.83%
Poundland Group (PLND) 173.60p 1.76%
FTSE 250 - Fallers
Debenhams (DEB) 73.70p -3.34%
Centamin (DI) (CEY) 94.20p -3.34%
Allied Minds (ALM) 390.50p -2.13%
Polypipe Group (PLP) 328.50p -1.91%
Caledonia Investments (CLDN) 2,211.00p -1.69%
Halma (HLMA) 879.50p -1.35%
British Empire Trust (BTEM) 448.00p -1.32%
Card Factory (CARD) 333.00p -1.30%
HICL Infrastructure Company Ltd (HICL) 157.40p -1.25% |
| | UK Event Calendar | | Friday 18 March
INTERIMS
Volution Group (WI)
INTERIM DIVIDEND PAYMENT DATE
Best of the Best, Ingenious Entertainment VCT 1 E Shares, Ingenious Entertainment VCT 1 F Shares, Ingenious Entertainment VCT 1 G Shs, Ingenious Entertainment VCT 1 H Shs, Ingenious Entertainment VCT 2 E Shares, Ingenious Entertainment VCT 2 F Shares, Ingenious Entertainment VCT 2 G Shs, Ingenious Entertainment Vct 2 H Shs, Mobeus Income & Growth 2 Vct, SSE
FINALS
M&C Saatchi, Robinson
ANNUAL REPORT
Norsk Hydro ASA
EGMS
Altin AG (Reg S)
AGMS
Octopus Titan VCT , Toro Limited |
| | 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 little changed as investors pause for breath European stocks wavered in early trade as investors paused for breath following recent gains, at the end of a week jam-packed with policy decisions.
At 0900 GMT, the benchmark Stoxx Europe 600 index and France's CAC 40 were both up 0.2%, while Germany's DAX was flat.
At the same time, oil prices slipped back a little, but were still on track for strong weekly gains. West Texas Intermediate was down 0.3% to $40.10 a barrel and Brent crude was off 0.4% to $41.38.
Mike van Dulken, head of research at Accendo Markets, said this week's central bank meeting have resulted "in gloomy views aplenty fuelling optimism of lower - even negative - rates for longer".
The Federal Reserve's dovish outlook on interest rates on Wednesday hit the greenback, helping dollar-denominated commodity stocks to advance. However, strength in the euro weighed on European stocks as it made the goods they export more expensive for holders of other currencies.
In corporate news, housebuilder Berkeley Group was in the red. Although the company said it expects full year results to be at the top end of expectations, it also announced a 4% drop in forward reservations in the three months to the end of February and questioned the government's response to the housing crisis.
Shares in Italian insurer Generali slipped after its fourth quarter net profit missed analysts' expectations.
On the upside, Telecom Italia pushed higher despite saying it swung to a net loss in 2015.
Data released by Destatis earlier showed German producer prices fell more than expected in February.
Producer prices dropped 0.5% from January, which was steeper than the 0.2% decline pencilled by economists, as energy prices slid 9.4% on the month.
On the year, producer prices were down 3%, missing expectations for a 2.6% drop.
Dennis de Jong, managing director at UFX.com, said: "With the price of goods continuing to decline, German finance minister Wolfgang Schäuble will be concerned about what implications this will have on inflation within his European powerhouse.
"As Europe's largest and strongest economy, Germany carries the can for much of the Eurozone, so this less-than-impressive data could have a knock-on effect that will send reverberations across the continent.
Still to come on the macroeconomic front, University of Michigan consumer sentiment is at 1400 GMT. |
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| | US Market Report | | US close: Stocks close higher as oil prices rise above $40 mark US stocks closed on the front foot on Thursday as oil prices jumped and investors continued to weigh the Federal Reserve's policy announcement.
The Dow Jones Industrial Average rose 0.90%, the S&P 500 increased 0.66% and the Nasdaq gained 0.23%.
The US oil benchmark reached above the $40 mark for the first time this year as the dollar weakened after the Federal Reserve scaled back its expectations for the number of interest rate hikes this year.
West Texas Intermediate crude was up 4.6% to $40.32 per barrel while Brent crude grew 2.7% to $41.45 per barrel at 2126 GMT.
The Fed on Wednesday said it now expects to raise interest rates twice this year, compared to the four times estimated late last year.
The central bank decided to keep rates unchanged at its March meeting, highlighting concerns about the global economic slowdown.
"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 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.
Societe Generale now expects one rate hike in 2016.
In economic data, initial jobless claims rose to 265,000 in the week to 12 March from 258,000 the previous week, the Labor Department revealed. Analysts had penciled in 268,000 claims.
Manufacturing conditions in the Philadelphia region improved far more than expected in March, turning positive for the first time in seven months, according to the latest report from the Federal Reserve Bank of Philadelphia.
The diffusion index rose from a reading of -2.8 in February to 12.4, by far exceeding economists' expectations for a reading of -1.7.
In company news, shares in FedEx surged after its third-quarter results released late on Wednesday came in better than expected.
Office Depot rallied after The New York Post said Amazon.com might bid for its corporate business unit.
The dollar rebounded slightly from earlier declines against main currencies, rising 0.03% versus the pound, increasing 0.01% versus the euro and climbing 0.02% against the yen.
S&P 500 - Risers
FedEx Corp. (FDX) $161.34 +11.83%
Peabody Energy Corp. (BTU) $2.40 +9.59%
Chesapeake Energy Corp. (CHK) $4.79 +9.11%
Owens-Illinois Inc. (OI) $16.24 +8.41%
Freeport-McMoRan Inc (FCX) $10.90 +6.65%
Emerson Electric Co. (EMR) $54.74 +6.39%
Genworth Financial Inc. (GNW) $2.95 +4.98%
Diamond Offshore Drilling Inc. (DO) $24.09 +4.78%
Harman International Industries Inc. (HAR) $87.84 +4.73%
Devon Energy Corp. (DVN) $27.40 +4.50%
S&P 500 - Fallers
Endo International Plc (ENDP) $30.03 -11.44%
Jabil Circuit Inc. (JBL) $19.63 -10.61%
Chipotle Mexican Grill Inc. (CMG) $471.59 -5.75%
Eli Lilly and Company (LLY) $69.06 -4.72%
Mylan Inc. (MYL) $44.22 -4.70%
Intuitive Surgical Inc. (ISRG) $562.35 -4.26%
Express Scripts Holding Co (ESRX) $67.59 -3.54%
TripAdvisor Inc. (TRIP) $65.31 -3.22%
CIGNA Corp. (CI) $137.80 -2.92%
McKesson Corp. (MCK) $151.69 -2.76%
Dow Jones I.A - Risers
General Electric Co. (GE) $30.96 +2.62%
Boeing Co. (BA) $130.70 +2.45%
E.I. du Pont de Nemours and Co. (DD) $64.59 +2.26%
Nike Inc. (NKE) $63.18 +2.13%
Caterpillar Inc. (CAT) $75.90 +2.10%
Procter & Gamble Co. (PG) $82.75 +1.73%
Coca-Cola Co. (KO) $45.77 +1.60%
Goldman Sachs Group Inc. (GS) $152.91 +1.57%
Chevron Corp. (CVX) $96.89 +1.56%
International Business Machines Corp. (IBM) $147.04 +1.55%
Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $67.45 -0.79%
Merck & Co. Inc. (MRK) $51.53 -0.79%
Johnson & Johnson (JNJ) $106.74 -0.62%
Unitedhealth Group Inc. (UNH) $124.53 -0.30%
McDonald's Corp. (MCD) $123.16 -0.29%
JP Morgan Chase & Co. (JPM) $58.75 -0.29%
Apple Inc. (AAPL) $105.80 -0.16%
Nasdaq 100 - Risers
Sba Communications Corp. (SBAC) $99.31 +3.91%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $51.42 +3.44%
Fastenal Co. (FAST) $48.94 +3.21%
Viacom Inc. Class B (VIAB) $41.48 +3.03%
Vimpelcom Ltd Ads (VIP) $4.09 +3.02%
Discovery Communications Inc. Class C (DISCK) $27.60 +2.15%
Adobe Systems Inc. (ADBE) $89.96 +2.03%
Tesla Motors Inc (TSLA) $226.38 +2.01%
Mattel Inc. (MAT) $32.81 +1.99%
Broadcom Limited (AVGO) $151.55 +1.96%
Nasdaq 100 - Fallers
Endo International Plc (ENDP) $30.03 -11.44%
Mylan Inc. (MYL) $44.22 -4.70%
Intuitive Surgical Inc. (ISRG) $562.35 -4.26%
Biomarin Pharmaceutical Inc. (BMRN) $77.32 -3.76%
Express Scripts Holding Co (ESRX) $67.59 -3.54%
TripAdvisor Inc. (TRIP) $65.31 -3.22%
JD.com, Inc. (JD) $27.03 -2.91%
Amazon.Com Inc. (AMZN) $559.44 -2.58%
Mondelez International Inc. (MDLZ) $40.78 -2.25% |
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| | Newspaper Round Up | | Friday newspaper round-up: Sainsbury's, Hinkley Point, Oil, GSK The new administrators of Libor are overhauling the way it is calculated, reducing its reliance on banker estimates in an attempt to restore faith in the scandal-hit rate. US markets operator Intercontinental Exchange took over administration of the London Interbank Offered Rate in 2014 after a global investigation found traders were influencing the daily rate calculations to benefit their own books. - Financial Times
Britain's credit binge has no end in sight as weak pay growth and low interest rates encourage households to load up on debt, official forecasts show. The Office for Budget Responsibility (OBR) said UK households were on course to spend more than they earned for the rest of the decade. - Telegraph
The Guardian will cut 250 jobs as it seeks to staunch heavy losses, raising the threat of its first ever compulsory redundancies. The publisher told staff that there was "urgent need for radical action" as it announced 100 journalists and 150 staff in non-editorial departments will lose their jobs. - Telegraph
Investors expect Sainsbury's to offer as much as £1.5bn for Argos on Friday, as the supermarket considers trumping a rival South African bid for the catalogue shop ahead of a 5pm deadline. Sainsbury's and Steinhoff International have been set a timescale by the takeover panel to announce a firm intention to bid for Home Retail Group, the parent of Argos, or walk away. - Guardian
The French government has promised a financial bailout for cash-strapped energy group EDF so that it can proceed with the £18bn plan to build the first nuclear reactors in Britain for 20 years. France's economics minister, Emmanuel Macron, said it would be a mistake for the 85% state-owned company not to build a new Hinkley Point C power plant in Somerset and he would ensure it happened. - Guardian
Oil prices rose to their highest this year, breaking through the $40 barrier, as investors bet that markets were starting to rebalance after a production freeze led by Russia and Saudi Arabia. The price of a barrel of Brent crude rose to $41.46 in New York last night, an increase of about 50 per cent from its 12-year low of $27 in January. West Texas Intermediate, the benchmark US contract, also hit a high for this year at $40.20, exceeding $40 for the first time since December. - The Times
Neil Woodford has called for Glaxo-SmithKline to replace Sir Andrew Witty with an outsider after the company announced his departure as chief executive yesterday. Sir Andrew will leave Britain's biggest pharmaceuticals group next March, by which time he will have been in the role for nine years. - The Times |
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