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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 rebound after Brussels terrorist attacks London stocks rebounded on Wednesday from declines in the previous session when terrorist attacks in Brussels rocked the market.
Global equity markets slumped after twin explosions at Zaventem airport and a metro station on Tuesday morning left about 34 people dead and 250 wounded. Extremists group ISIL claimed responsibility for the attacks shortly after.
UK stocks began to recover later in the day from the news which had sent travel and leisure shares lower. Many analysts suggested the market has become resilient to such events after the Paris terrorist attacks.
On Wednesday's agenda there is little in the way of economic data to continue the rally equities throughout the day.
"Rising around 20 points after the open the FTSE once again crossed 6200 this morning; whether it can finally see a sustained increase above that level, which it has struggled with throughout March, is unclear," said Connor Campbell, financial analyst at Spreadex.
"In all likelihood such a limited day of data means the index may find it hard to gain much momentum as the day goes on."
In a lift to markets, the president of the Asian Development Bank said on Wednesday that China's economy is unlikely to suffer a hard landing as there is room for fiscal and monetary stimulus to boost growth.
"There won't be a hard landing," Takehiko Nakao, a former Japanese vice finance minister for international affairs, told a news conference.
The lender has forecast China's economy will grow 6.7% this year, but Takehiko suggested that the estimate might be modified lowered later this month.
China's government is targeting growth of 6.5% to 7% this year after 6.9% expansion in 2015.
In corporate news, Kingfisher's shares jumped after the home improvement retailer reported a 0.3% increase in full year adjusted pre-tax profit to £686m.
Sports Direct was in the red after releasing a statement clarifying that its earnings for the full year to the end of April will be at the bottom of the range of its guidance announced back in January.
Wizz Air advanced after saying the strong performance seen in the first nine months had continued into the final quarter due to robust ticket sales, lower fuel costs, robust load factors and a continued disciplined approach to cost management.
William Hill plunged after posting a disappointing first-quarter update after a loss-making Cheltenham horse racing festival and weaker than expected online performance.
HomeServe gained as it said trading in the final quarter had been as forecast and full year results were expected to be in line with expectations.
DFS Furniture dropped despite reporting a 12.3% rise in first half core earnings as sales grew and the retailer hiked its dividend. However the company warned it was "not clear what the impact and outcome will be on consumer confidence and Sterling" ahead of Britain's referendum on its European Union membership on 23 June. |
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| Market Movers
FTSE 100 (UKX) 6,203.23 0.17%
FTSE 250 (MCX) 16,943.95 0.24%
techMARK (TASX) 3,111.85 0.22%
FTSE 100 - Risers
Kingfisher (KGF) 361.60p 3.14%
Sky (SKY) 1,035.00p 2.17%
Carnival (CCL) 3,526.00p 2.03%
easyJet (EZJ) 1,523.00p 1.26%
WPP (WPP) 1,615.00p 1.25%
Sage Group (SGE) 627.00p 1.21%
Unilever (ULVR) 3,139.00p 1.18%
Coca-Cola HBC AG (CDI) (CCH) 1,460.00p 1.11%
Marks & Spencer Group (MKS) 412.60p 1.08%
Mediclinic International (MDC) 874.00p 1.04%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 6,375.00p -2.45%
Paddy Power Betfair (PPB) 9,075.00p -1.79%
Fresnillo (FRES) 980.00p -1.41%
Direct Line Insurance Group (DLG) 375.20p -1.32%
Standard Chartered (STAN) 489.05p -1.14%
Antofagasta (ANTO) 493.00p -0.94%
Tesco (TSCO) 199.90p -0.87%
Anglo American (AAL) 548.60p -0.85%
Morrison (Wm) Supermarkets (MRW) 201.60p -0.59%
Capita (CPI) 1,017.00p -0.59%
FTSE 250 - Risers
Allied Minds (ALM) 470.00p 4.33%
Regus (RGU) 309.50p 3.58%
AO World (AO.) 177.10p 3.27%
Virgin Money Holdings (UK) (VM.) 376.00p 3.01%
Vedanta Resources (VED) 335.30p 2.98%
Euromoney Institutional Investor (ERM) 899.50p 2.62%
Ocado Group (OCDO) 303.80p 2.53%
Thomas Cook Group (TCG) 90.65p 2.37%
Phoenix Group Holdings (DI) (PHNX) 936.00p 1.96%
Evraz (EVR) 89.00p 1.95%
FTSE 250 - Fallers
William Hill (WMH) 321.40p -13.32%
DFS Furniture (DFS) 308.70p -5.02%
Ladbrokes (LAD) 114.60p -4.90%
Serco Group (SRP) 100.10p -2.82%
Daejan Holdings (DJAN) 5,555.00p -2.80%
Zoopla Property Group (WI) (ZPLA) 243.30p -2.09%
Jimmy Choo (CHOO) 132.50p -1.85%
Acacia Mining (ACA) 272.60p -1.84%
Tullow Oil (TLW) 220.30p -1.65% |
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| | UK Event Calendar | | Wednesday 23 March
INTERIMS
DFS Furniture, Tracsis
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (14:30)
New Home Sales (US) (14:00)
GMS
Telecom Egypt SAE GDS (Regs)
FINALS
Anglo Pacific Group, Burford Capital , Kingfisher, Lamprell, Phoenix Group Holdings (DI), Quixant
ANNUAL REPORT
IMI, Morgan Sindall Group, PJSC RusHydro ADR
AGMS
Amino Technologies, Blackrock Throgmorton Trust, GW Pharmaceuticals, IMI, Pinnacle Technology Group, Premier Veterinary Group , RM, Safestore Holdings, St. Modwen Properties
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
CBI Industrial Trends Surveys (11:00)
Public Sector Finances (09:30)
FINAL DIVIDEND PAYMENT DATE
Lancashire Holdings Limited
FINAL EX-DIVIDEND DATE
Computacenter
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks on the front foot; Credit Suisse up on cost-cutting plans European stocks rose in early trade, with Credit Suisse among the gainers as investors welcomed the bank's latest cost-cutting efforts.
At 0900 GMT, the benchmark Stoxx Europe 600 index was up 0.5%, Germany's DAX was 0.9% higher and France's CAC 40 was up 0.7%.
At the same time, oil prices were lower as investors eyed the release of US crude oil inventories later in the session amid ongoing concerns about oversupply. West Texas Intermediate and Brent crude were down 0.9% to $41.06 a barrel and $41.41, respectively.
"European markets continue to show remarkable resilience in the face of yesterday's terrorist attacks, moving higher in early trade and continuing their defiant stance from yesterday which saw markets shrug off their early flight to safety and finish in positive territory," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"The last six weeks have seen commodity markets stage a remarkable recovery and central banks have stepped up their support - but investors need to start asking difficult questions about whether the global macro outlook has changed so much in such a short space of time to support further upside."
O'Keeffe noted that the US VIX index, which measures the cost of downside protection for equity portfolios, has dropped to its lowest levels since last summer's sharp market decline, slipping to just 13.8 in trading Tuesday after rising to a high of over 30 in early February.
On Tuesday, European equities shook off a weak start to end little changed as investors largely shrugged off terrorist attacks in Brussels which left over 30 people deal and scores injured.
In corporate news, Credit Suisse was in the black after announcing plans to accelerate cost savings and cut 2,000 jobs in the global markets business.
French luxury brand Hermes was also on the front foot as its full year profit surpassed analysts' expectations, with operating profit up 19% to €1.54bn.
B&Q owner Kingfisher rallied as its full year pre-tax profit beat analyst's expectations and the company said its turnaround plan was on track.
Pharmaceuticals giant AstraZeneca nudged lower after saying its Brilinta drug missed its target during a trial in stroke patients, proving less effective than aspirin.
Still to come on the macroeconomic calendar, Eurozone consumer confidence is at 1500 GMT. In the US, MBA mortgage applications are at 1100 GMT while new home sales are scheduled for release at 1400 GMT. |
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| | US Market Report | | US close: Stocks end mixed as investors digest Brussels terror attacks US stocks ended mixed on Tuesday, with the Dow snapping a seven-day winning streak as investors digested news of coordinated terror attacks in Belgium.
The Dow Jones Industrial Average ended down 0.2% and the S&P 500 slipped 0.1%, but the Nasdaq eked out a 0.3% gain.
Although stocks in Europe fell sharply early in the day following reports of explosions at Brussels' Zaventem airport and the city's Maalbeek metro station, the DAX and CAC 40 reversed course to end up while the Stoxx 600 pared losses to close just a touch lower.
"The sad reality is that the more frequent these kinds of events become, the more markets become immune and the response in prices becomes less dramatic," said Jasper Lawler, market analyst at CMC Markets.
"The attacks on Belgium are a human tragedy but don't detract from the situation with central banks, Chinese growth, currency wars, oil prices or a host of other issues that have been important to markets this year. The dovish commentary from Janet Yellen has cooled the rise in the dollar, put yuan devaluation concerns on the back-burner and supported oil prices. All that put together removes a lot of the justification for another hefty sell-off and is keeping stocks supported," he added.
Islamic State later claimed responsibility for the suicide bomber attacks which killed more than 30 people and came just four days after the capture in Brussels of Salah Abdeslam, the main suspect in the jihadist attacks in Paris on 13 November 2015 that killed more than 130 people.
American Airlines ended in the red after it refuted earlier reports that the two explosions at Brussels international airport occurred next to its check-in desk.
Other travel and leisure stocks including Expedia, Priceline and Carnival Corp. were also under pressure in the wake of the attacks.
In economic data, Markit's flash US manufacturing PMI nudged up to 51.4 in March from 51.3 the previous month, missing forecasts of 51.9. The reading was well below the post-crisis average of 54.1 but above the 50 mark that separates expansion from contraction.
"While some comfort might be drawn from the marginal rise in the PMI compared to February, the rate of growth remains worryingly weak and the lack of a stronger rebound is a disappointment, given that many companies reported bad weather to have hit activity in the first two months of the year," said Markit's chief economist, Chris Williamson.
Separately, a measure of manufacturing activity in the lower US Atlantic region rose in March to its strongest level in nearly six years, the Richmond Federal Reserve said. The Richmond Federal Reserve's composite factory index rose to +22 points in March from -4 in February, surpassing expectations of 0.
US house prices nudged higher in January led by increases in the Northwest and Southeast. The Federal Housing Finance Agency's monthly house price index rose 0.5% month-on-month in January to 230.7.
Meanwhile, oil prices settled mixed, with West Texas Intermediate down 0.1% to $41.47 a barrel and Brent crude up 0.7% to $41.84.
The US dollar rose 1.1% against the pound and 0.2% versus the euro. It also regained ground against the yen, trading up 0.2% versus the Japanese currency after losses earlier in the day as investors sought safe havens.
S&P 500 - Risers
Endo International Plc (ENDP) $30.81 +6.83%
Staples Inc. (SPLS) $10.31 +6.40%
Peabody Energy Corp. (BTU) $2.67 +5.12%
Western Digital Corp. (WDC) $51.34 +4.16%
Alexion Pharmaceuticals Inc. (ALXN) $135.68 +3.53%
Vertex Pharmaceuticals Inc. (VRTX) $86.78 +3.28%
Sherwin-Williams Co. (SHW) $281.99 +3.18%
CONSOL Energy Inc. (CNX) $12.04 +3.17%
Tenet Healthcare Corp. (THC) $29.24 +2.89%
United States Steel Corp. (X) $15.58 +2.84%
S&P 500 - Fallers
Genworth Financial Inc. (GNW) $3.05 -6.60%
Transocean Ltd. (RIG) $9.99 -5.13%
Pepco Holdings Inc. (POM) $21.21 -3.46%
CF Industries Holdings Inc. (CF) $33.94 -3.19%
Ensco Plc. (ESV) $11.02 -2.74%
Express Scripts Holding Co (ESRX) $67.52 -2.62%
TripAdvisor Inc. (TRIP) $64.04 -2.54%
Rowan Companies plc (RDC) $16.00 -2.50%
Gap Inc. (GPS) $29.08 -2.50%
Priceline Group Inc (PCLN) $1,319.41 -2.30%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $128.08 +1.06%
Pfizer Inc. (PFE) $30.38 +1.03%
Apple Inc. (AAPL) $106.74 +0.78%
Exxon Mobil Corp. (XOM) $84.13 +0.60%
Merck & Co. Inc. (MRK) $53.04 +0.45%
Microsoft Corp. (MSFT) $54.07 +0.39%
Cisco Systems Inc. (CSCO) $28.29 +0.35%
Nike Inc. (NKE) $64.92 +0.31%
Johnson & Johnson (JNJ) $107.39 +0.10%
3M Co. (MMM) $164.94 +0.06%
Dow Jones I.A - Fallers
Goldman Sachs Group Inc. (GS) $154.31 -1.27%
Visa Inc. (V) $72.99 -1.06%
Chevron Corp. (CVX) $95.48 -1.00%
American Express Co. (AXP) $60.60 -0.99%
E.I. du Pont de Nemours and Co. (DD) $63.95 -0.96%
Walt Disney Co. (DIS) $97.59 -0.88%
Procter & Gamble Co. (PG) $82.76 -0.67%
Boeing Co. (BA) $135.12 -0.54%
United Technologies Corp. (UTX) $98.65 -0.52%
Caterpillar Inc. (CAT) $75.53 -0.47%
Nasdaq 100 - Risers
Endo International Plc (ENDP) $30.81 +6.83%
Biomarin Pharmaceutical Inc. (BMRN) $83.45 +6.73%
Western Digital Corp. (WDC) $51.34 +4.16%
Alexion Pharmaceuticals Inc. (ALXN) $135.68 +3.53%
Vertex Pharmaceuticals Inc. (VRTX) $86.78 +3.28%
Cerner Corp. (CERN) $54.57 +2.69%
Amgen Inc. (AMGN) $150.65 +2.48%
Regeneron Pharmaceuticals Inc. (REGN) $378.31 +1.96%
Mylan Inc. (MYL) $46.21 +1.65%
Celgene Corp. (CELG) $102.73 +1.57%
Nasdaq 100 - Fallers
Express Scripts Holding Co (ESRX) $67.52 -2.62%
TripAdvisor Inc. (TRIP) $64.04 -2.54%
Priceline Group Inc (PCLN) $1,319.41 -2.30%
Discovery Communications Inc. Class C (DISCK) $27.33 -2.04%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $51.64 -2.03%
Mondelez International Inc. (MDLZ) $39.91 -1.92%
Fastenal Co. (FAST) $48.93 -1.88%
Dollar Tree Inc (DLTR) $79.01 -1.80%
Tesla Motors Inc (TSLA) $234.24 -1.71% |
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