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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: Mining stocks lead FTSE 100 lower UK stocks declined on Monday, led by mining shares as commodity prices declined.
A gauge of miners were the biggest fallers on the FTSE 100 in morning trade including Anglo American, Glencore and Randgold Resources.
Gold, silver and copper prices dropped on the Comex by 0.98%, 0.42% and 0.07%, respectively.
Oil prices were also lower with Brent crude down 0.95% to $40.81 per barrel and West Texas Intermediate down 1.3% to $40.59 per barrel.
There is little in the way of economic data on Monday, with the CBI industrial order expectations at 1100 GMT and US existing home sales the only noteworthy reports.
Meanwhile, Chinese officials tried to soothe concerns about the nation's economic slowdown on Sunday. Vice premier Zhang Gaoli told a high-level economic forum that recent data until early March, including fixed-asset investment and employment, showed that the economy was improving.
"We don't want to shy away from saying that China's economy is facing downward pressure, but overall the progress is steady," he said.
In company news, Centamin was under the cosh after reporting a fall in full year profits due to a weaker gold price.
Synthomer rallied after announcing the $226m (£156m) acquisition of Hexion Performance Adhesives & Coatings. |
| | 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) 6,185.09 -0.07%
FTSE 250 (MCX) 16,923.05 0.13%
techMARK (TASX) 3,087.25 0.44%
FTSE 100 - Risers
Shire Plc (SHP) 3,777.00p 2.33%
Sainsbury (J) (SBRY) 277.60p 1.61%
Paddy Power Betfair (PPB) 8,975.00p 1.24%
RSA Insurance Group (RSA) 475.40p 1.00%
Whitbread (WTB) 3,965.00p 0.99%
Pearson (PSON) 903.00p 0.95%
Berkeley Group Holdings (The) (BKG) 3,211.00p 0.82%
Informa (INF) 690.50p 0.80%
AstraZeneca (AZN) 3,920.50p 0.78%
TUI AG Reg Shs (DI) (TUI) 1,033.00p 0.78%
FTSE 100 - Fallers
Anglo American (AAL) 538.20p -3.10%
Glencore (GLEN) 156.90p -2.43%
Antofagasta (ANTO) 503.00p -2.24%
Randgold Resources Ltd. (RRS) 6,400.00p -1.69%
Next (NXT) 6,545.00p -1.36%
BHP Billiton (BLT) 820.50p -1.23%
Marks & Spencer Group (MKS) 412.70p -1.10%
Rio Tinto (RIO) 1,997.50p -0.87%
Aviva (AV.) 482.30p -0.84%
Dixons Carphone (DC.) 437.60p -0.77%
FTSE 250 - Risers
Synthomer (SYNT) 341.30p 4.44%
Saga (SAGA) 188.20p 4.21%
McCarthy & Stone (MCS) 243.00p 2.53%
Evraz (EVR) 91.80p 2.46%
Allied Minds (ALM) 424.50p 2.22%
Fidelity China Special Situations (FCSS) 130.20p 1.88%
BTG (BTG) 640.50p 1.83%
UK Commercial Property Trust (UKCM) 82.90p 1.78%
Home Retail Group (HOME) 166.10p 1.78%
IP Group (IPO) 186.90p 1.63%
FTSE 250 - Fallers
Halfords Group (HFD) 388.80p -8.19%
CLS Holdings (CLI) 1,478.00p -4.40%
Brown (N.) Group (BWNG) 346.10p -3.86%
Tullow Oil (TLW) 217.90p -3.50%
Polypipe Group (PLP) 340.50p -2.85%
AO World (AO.) 166.50p -2.57%
Drax Group (DRX) 271.80p -1.70%
Cairn Energy (CNE) 201.70p -1.61%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 472.50p -1.56% |
| | UK Event Calendar | | Monday 21 March
INTERIMS
CVS Group, Earthport, Plant Impact, Quadrise Fuels International, YouGov
INTERIM DIVIDEND PAYMENT DATE
Heath (Samuel) & Sons
QUARTERLY PAYMENT DATE
SQN Asset Finance Income Fund Limited
QUARTERLY EX-DIVIDEND DATE
Total SA
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (14:00)
GMS
Johnston Press
FINALS
AFC Energy, Brady, BrainJuicer Group, Management Consulting Group, Matomy Media Group Limited (DI) , MD Medical Group Investments GDR (Reg S), Michelmersh Brick Holdings, Michelmersh Brick Holdings, Miton Group, Netplay TV, Pittards, Smart Metering Systems
ANNUAL REPORT
Bovis Homes Group
AGMS
Evocutis, LPA Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip as oil prices slide European stocks slipped in early trade following a mixed session in Asia, as oil prices declined and investors awaited fresh catalysts at the start of a shortened trading week.
At 0850 GMT, the benchmark Stoxx Europe 600 index and Germany's DAX were both down 0.2%, while France's CAC 40 was 0.5% lower.
Oil prices were in the red after data from driller Baker Hughes showed US energy companies last week added one oil rig to 387 following three months of cuts.
West Texas Intermediate was down 1.8% to $38.72 a barrel while Brent crude was 1.3% lower at $40.66.
The Stoxx 600 oil and gas index fell 1.6%, while the corresponding sub-index for basic resources was 2% weaker as copper prices lost ground.
"After the carnage experienced by equity markets at the start of the year, the significant rebound that started in mid-February is beginning to take markets back into positive territory. Led by last year's biggest losers, mining and oil companies have been the front runners in the recovery and remain a key driver in sentiment," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
She noted that the US has been the most resilient major market, with the S&P finally reaching positive territory for 2016 on Friday. In Europe and Japan, meanwhile, equity weakness has been offset by unexpected currency strength.
"The big question for investors is where markets go from here? Should those investors who have hung on through Q1's roller-coaster ride now cut and run? Or, with the Fed taking a more dovish approach to prospective rate hikes that puts it more closely in line with the monetary support still being offered by the European Central Bank and the Bank of Japan, is there scope for further gains in the months ahead?"
In corporate news, Telecom Italia was in the black after it confirmed that chief executive Marco Patuano was set to leave the company.
Bayer was also on the front foot after Reuters cited people familiar with the matter as saying that seed producer Monsanto had approached the company to express interest in its crop science unit, including a potential acquisition worth more than $30bn. |
| | 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: S&P 500 erases year-to-date losses Shares on the S&P 500 finished higher for a fifth week running on Friday, pushing the equity benchmark into the black for the year by 0.3%.
Over the latest week the S&P 500 gained 1.4%, led by industrial and raw materials names, alongside a 2.3% advance in the Dow Jones Industrials that pushed that gauge into the green for the year as well.
For the day, the S&P 500 came to rest at 2,049.58 points by the closing bell, up by 0.44%, settling just below key short-term technical resistance at 2,050. In parallel, the Dow Jones rose 120.81 points or 0.69% to 17,602.30 and the Nasdaq Composite by another 20.66 points or 0.43% to reach 4,795.65.
The VIX retreated another 2.91% to end at 14.02 points, its lowest mark since 18 August.
Gains in Hotels (2.82%), Airlines (2.60%) and healthcare providers (2.05%) helped to offset moderate losses in the oil patch.
West Texas Intermediate crude oil futures erased early gains to finish 81 cents lower at $39.44 per barrel in NYMEX trading.
Crude oil prices have risen more than 50% from the 12-year lows reached in December after the Organization of the Petroleum Exporting Countries (OPEC) floated the idea of a production freeze.
In economic data, the University of Michigan's consumer sentiment index unexpectedly fell in March, to a reading of 90.0 from 91.7 in February and versus expectations of 92.2.
The index for current economic conditions came in at 105.6, down from 106.8 in February but up from March 2015's reading of 105.0.
Capital Economics said the decline in the consumer sentiment index "illustrates that higher gasoline prices more than offset the positive impact to sentiment from the rebound in stock markets".
Meanwhile, Federal Reserve Bank of New York President William Dudley said the financial system is "much more resilient" following the 2008 crisis, but "more work still lies ahead" to prevent another one from happening.
Dudley said there were limits to the supervision of banks in averting another crash and urged policymakers to find ways to better educate the industry about the role of supervisors.
"In the wake of the crisis, considerable attention has been devoted to the role that supervisors-including those here at the New York Fed-played in this meltdown," he said at the Supervision Conference in Manhattan.
"But much of this discussion has taken place without a broad understanding of what supervisors actually do-the scope, breadth and limits of their activities and authorities."
In corporate news, software maker Adobe Systems Inc rallied after it reported better-than-expected quarterly results late on Thursday.
Tiffany & Co was also in the black after its fiscal fourth-quarter earnings exceeded analysts' expectations.
Wynn Resorts edged higher after Deutsche Bank lifted its price target on the stock.
On the downside, clothing retailer Aeropostale tanked following weaker-than-expected fourth-quarter numbers on Thursday and after the company said it was considering selling itself.
In currencies, the US dollar was recovering following losses in the wake of the Federal Reserve's dovish stance on Wednesday.
Euro/dollar was off by 0.40% higher versus the euro by the end of trading at 1.1270, albeit with Morgan Stanley saying there was more short-term dollar weakness to come.
"The dovish Fed - discouraging USD bulls - has led to a de-positioning move supporting the once shunned currencies. GBP, AUD and many emerging market currencies fall into this category. In this respect, the falling USD has the characteristics of a pain trade that seems to have further to run," the bank said.
The Federal Reserve on Wednesday decided to keep interest rates unchanged but said it now expects to raise rates twice this year, compared to the four estimated in December.
S&P 500 - Risers
Western Digital Corp. (WDC) $49.02 +6.57%
Tenet Healthcare Corp. (THC) $28.14 +5.91%
Wynn Resorts Ltd. (WYNN) $94.02 +5.88%
Starwood Hotels & Resorts Worldwide Inc. (HOT) $80.57 +5.47%
Leucadia National Corp. (LUK) $16.62 +5.26%
Seagate Technology Plc (STX) $36.57 +4.70%
McKesson Corp. (MCK) $158.31 +4.36%
Vertex Pharmaceuticals Inc. (VRTX) $82.52 +4.22%
Peabody Energy Corp. (BTU) $2.50 +4.17%
HP Inc (HPQ) $12.18 +3.92%
S&P 500 - Fallers
Transocean Ltd. (RIG) $10.78 -7.94%
National Oilwell Varco Inc. (NOV) $32.58 -4.15%
Helmerich & Payne Inc. (HP) $60.83 -3.64%
Bemis Co. Inc. (BMS) $52.20 -3.48%
Chipotle Mexican Grill Inc. (CMG) $455.37 -3.44%
Rowan Companies plc (RDC) $16.27 -3.33%
NiSource Inc. (NI) $22.80 -2.27%
Microsoft Corp. (MSFT) $53.49 -2.14%
Southwestern Energy Co. (SWN) $7.93 -2.10%
Perrigo Company plc (PRGO) $128.46 -2.10%
Dow Jones I.A - Risers
Goldman Sachs Group Inc. (GS) $157.60 +3.07%
JP Morgan Chase & Co. (JPM) $60.48 +2.94%
Boeing Co. (BA) $133.96 +2.49%
Intel Corp. (INTC) $32.68 +2.19%
American Express Co. (AXP) $61.22 +1.90%
Unitedhealth Group Inc. (UNH) $126.72 +1.76%
Merck & Co. Inc. (MRK) $52.25 +1.40%
3M Co. (MMM) $165.33 +0.96%
Visa Inc. (V) $73.78 +0.88%
Chevron Corp. (CVX) $97.69 +0.83%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $53.49 -2.14%
Wal-Mart Stores Inc. (WMT) $66.95 -0.74%
Verizon Communications Inc. (VZ) $53.24 -0.73%
Caterpillar Inc. (CAT) $75.47 -0.57%
Walt Disney Co. (DIS) $99.20 -0.40%
Coca-Cola Co. (KO) $45.60 -0.37%
Nike Inc. (NKE) $62.99 -0.30%
General Electric Co. (GE) $30.92 -0.13%
Travelers Company Inc. (TRV) $115.76 -0.06%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $49.02 +6.57%
Seagate Technology Plc (STX) $36.57 +4.70%
Biomarin Pharmaceutical Inc. (BMRN) $80.94 +4.68%
Vertex Pharmaceuticals Inc. (VRTX) $82.52 +4.22%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $39.00 +3.92%
Adobe Systems Inc. (ADBE) $93.42 +3.85%
Intuitive Surgical Inc. (ISRG) $583.05 +3.68%
Incyte Corp. (INCY) $65.07 +3.20%
American Airlines Group (AAL) $43.44 +3.18%
Nvidia Corp. (NVDA) $33.81 +3.02%
Nasdaq 100 - Fallers
Microsoft Corp. (MSFT) $53.49 -2.14%
Comcast Corp. (CMCSA) $59.76 -1.63%
TripAdvisor Inc. (TRIP) $64.31 -1.53%
Amazon.Com Inc. (AMZN) $552.08 -1.32%
Activision Blizzard Inc. (ATVI) $32.20 -1.23%
Vodafone Group Plc ADS (VOD) $31.56 -1.22%
Kraft Heinz Co. (KHC) $77.31 -0.90%
Symantec Corp. (SYMC) $18.60 -0.69%
Endo International Plc (ENDP) $29.84 -0.63% |
| | 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 | | Monday newspaper round-up: Brexit, Dyson, BHS, sugar tax, Barclays The UK economy could lose more than half a million jobs by 2020 in the event of a vote to leave the EU and would be unlikely to recover from the impact fully even after 15 years, the head of the CBI is set to warn. Carolyn Fairbairn, director-general of the business lobby, will present research by PwC, the professional services firm, suggesting the shock of a British exit could cut economic output between 3 and 5.4 per cent in 2020, depending on what sort of deal Britain managed to negotiate with its trading partners. - Financial Times
Barack Obama arrived in Cuba on Sunday afternoon for a historic visit after taking the three-hour flight that has eluded his predecessors for the past 88 years. Stepping off Air Force One in Havana alongside his wife Michelle and daughters Sasha and Malia, Mr Obama began a three-day trip that the president hopes will help loosen the grip of the Cuban regime on the country's economy and on its politics. - Financial Times
Dyson will invest £1bn in developing new battery technology by 2020 as the business best known for its vacuum cleaners branches out into new areas. Revealing strong annual sales and profit growth, chief executive Max Conze hinted at the company's ambitious plans. - Telegraph
Rolls-Royce is to add up to 350 jobs at its Derby base as the engineering giant gears up production of its TrentXWB engine. Warren East, chief executive, will also this week meet with Midlands MPs whose constituencies Rolls has plants in to ease concerns that the company is looking to shift work abroad. - Telegraph
BHS believes it has secured the backing of major landlords for a vital vote this week that will determine the future of the 88-year-old department store chain. The retailer needs 75% of creditors to vote in favour of a company voluntary arrangement (CVA) at a meeting on Wednesday or it will collapse into administration. - Guardian
Soft drink makers are considering taking legal action against the government over its controversial sugar tax as George Osborne's budget shows further signs of unwinding. Suing the government is one option that companies are considering as they await more details on the tax, which will come into force in 2018 and cost £1bn to implement, almost double the amount that it is expected to raise. - Guardian
Barclays has come under attack from a long-term shareholder for deciding to sell its African business and rebuild its investment bank. Django Davidson, a partner at Hosking Partners, a London-based fund manager, writes in The Times today that his firm is "somewhat confused and decidedly frustrated" by strategic initiatives being pushed through by Jes Staley, the bank's chief executive. - The Times |
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