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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 edge lower on oil price slump London stocks dropped on Thursday as oil prices continued to slide and as investors awaited the release of UK retail sales figures.
Oil prices fell after the Energy Information Administration on Wednesday reported US crude stocks rose by 9.4 million barrels to 532.5 million barrels in the week ended 18 March. Analysts had forecast an increase of 2.5 million barrels.
Brent crude dipped 0.89% to $40.11 per barrel and West Texas Intermediate declined 1.2% to $39.29 per barrel at 0857 GMT.
"It's been a relatively slow week in the markets so far, with trading volumes being naturally hit in the run up to the long bank holiday weekend," said Craig Erlam, senior market analyst.
"Oil has been one of the few catalysts for the markets this week, which have been broadly stable barring the brief dash for safety following the tragic events in Brussels on Tuesday."
Meanwhile, UK retail sales data at 0930 GMT is expected to show a 3.4% year-on-year increase in February.
In the US, Federal Reserve official James Bullard speaks at 1215 GMT in New York, initial jobless claims figures are due at 1230 GMT, durable goods orders will be released at 1230 GMT and Markit's US manufacturing purchasing managers' index is out at 1345 GMT.
In company news, Renishaw's shares fell after the engineering company issued a profit warning due to a downturn in Asia.
Next slumped after warning the year ahead could be the toughest since 2008 as it reported is full year results. The fashion retailer issued new guidance for 2016 that includes the possibility that profits could decline as much as 4.5%.
Outsourcer Mitie slumped on Thursday after it warned that full year revenues will be below the current range of market expectations, although profit will fall within.
National Grid rallied a day after announcing its new UK executive director, appointing High Speed 1's Nicola Shaw to the role.
Paddy Power Betfair gained after saying on Wednesday that chief operating officer Andy McCue will leave the company and cease to be a director with effect from 30 April. |
| | 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) 6,130.58 -1.11%
FTSE 250 (MCX) 16,732.24 -0.79%
techMARK (TASX) 3,090.79 -0.68%
FTSE 100 - Risers
National Grid (NG.) 985.80p 0.23%
Paddy Power Betfair (PPB) 9,265.00p 0.22%
CRH (CRH) 1,942.00p 0.21%
Intertek Group (ITRK) 3,148.00p 0.19%
Compass Group (CPG) 1,215.00p 0.00%
Carnival (CCL) 3,521.00p -0.03%
Shire Plc (SHP) 3,923.00p -0.05%
British Land Company (BLND) 700.50p -0.07%
Rexam (REX) 631.50p -0.08%
Hammerson (HMSO) 571.00p -0.09%
FTSE 100 - Fallers
Next (NXT) 6,075.00p -8.78%
Anglo American (AAL) 496.00p -5.25%
Standard Chartered (STAN) 453.55p -5.04%
Antofagasta (ANTO) 463.70p -3.84%
Prudential (PRU) 1,296.00p -3.71%
Fresnillo (FRES) 915.00p -3.68%
Schroders (SDR) 2,615.00p -3.68%
Rio Tinto (RIO) 1,899.00p -3.56%
Glencore (GLEN) 148.30p -3.39%
Marks & Spencer Group (MKS) 400.10p -3.08%
FTSE 250 - Risers
Fidessa Group (FDSA) 2,388.00p 2.27%
Hikma Pharmaceuticals (HIK) 1,897.00p 1.66%
Allied Minds (ALM) 460.00p 1.43%
Mitchells & Butlers (MAB) 273.20p 1.34%
Melrose Industries (MRO) 348.90p 1.19%
Vectura Group (VEC) 160.00p 1.14%
Polypipe Group (PLP) 329.90p 1.10%
Jimmy Choo (CHOO) 132.40p 1.07%
Just Retirement Group (JRG) 154.60p 1.05%
Saga (SAGA) 190.40p 1.01%
FTSE 250 - Fallers
Renishaw (RSW) 1,786.00p -12.84%
Mitie Group (MTO) 242.00p -8.47%
Kaz Minerals (KAZ) 167.00p -5.92%
Countrywide (CWD) 369.50p -4.67%
Tullow Oil (TLW) 203.30p -3.69%
Weir Group (WEIR) 1,073.00p -3.59%
Meggitt (MGGT) 392.70p -3.58%
Evraz (EVR) 86.15p -3.31%
Aberdeen Asset Management (ADN) 261.50p -3.29% |
| | UK Event Calendar | | Thursday 24 March
INTERIMS
Renew Holdings
INTERIM DIVIDEND PAYMENT DATE
Dunelm Group, Foresight 3 VCT, Redde, Ruffer Investment Company Ltd Red PTG Pref Shares
INTERIM EX-DIVIDEND DATE
Brooks Macdonald Group, Fusionex International, Galliford Try, Go-Ahead Group, Kier Group, NWF Group, Sky, Smiths Group
QUARTERLY PAYMENT DATE
BP
Q4
Signet Jewelers Ltd.
GMS
Palace Capital
FINALS
Churchill China, International Public Partnerships Ltd., PJSC Magnit GDR (REG S), Signet Jewelers Ltd.
ANNUAL REPORT
International Public Partnerships Ltd., John Laing Group , Standard Chartered, STV Group
SPECIAL DIVIDEND PAYMENT DATE
Dunelm Group, Proven Planned Exit VCT
SPECIAL EX-DIVIDEND PAYMENT DATE
Plus500 Ltd (DI), Prudential
AGMS
Beazley, Finansbank GDR (Reg S), Independent Inv Trust, Jarvis Securities
FINAL DIVIDEND PAYMENT DATE
Cenkos Securities, Downing Four VCT DSO, Downing Three VCT A Shares, Downing Three VCT C Shares, Downing Two VCT 'A' Shs, Downing Two VCT 'C' Shs, Henderson Opportunities Trust
FINAL EX-DIVIDEND DATE
BlackRock Latin American Inv Trust, BlackRock World Mining Trust, Bovis Homes Group, Countrywide, Fidelity European Values, Heavitree Brewery, Ladbrokes, LSL Property Services, OneSavings Bank, Plus500 Ltd (DI), Prudential, Real Estate Investors, Schroders, SEGRO, Skipton Building Society 6.875% Perm Int Br Shs, Synectics
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Equities in the red as energy and mining issues drop European equity markets fell in early trade, with basic resources and energy stocks suffering the brunt of the losses as metals and oil prices declined.
At 0845 GMT, the benchmark Stoxx Europe 600 was down 0.9%, Germany's DAX was 0.8% lower and France's CAC 40 was off 1.2%.
At the same time, oil prices were in the red 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 1.5% to $39.21 a barrel while Brent crude was 0.9% weaker at $40.12.
The Stoxx 600 oil and gas index fell 1.4%, while the sub-index for basic resources was down nearly 3% as metals prices slid.
"There's a general feeling that the recent equity market rally has gone far enough with many major indices now back to where they started at the end of 2015," said David Morrison, senior market strategist at SpreadCo.
"With the long Easter weekend coming up, it looks as if some position-squaring is in order. This has been compounded by this week's comment-torrent from a rash of Fed-heads. We've now had four regional Federal Reserve presidents come out in favour of tighter monetary policy with the odds on an April hike shortening dramatically. The dollar has rallied as a result, taking the wind out of the recent commodity rally."
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.
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. |
| | 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 dragged lower by fall in oil prices US stocks closed lower on Wednesday as oil prices dropped after government data showed a greater-than-expected increase in weekly US crude inventories.
The Dow Jones Industrial Average finished down 0.45%, the S&P 500 shed 0.64% and the Nasdaq lost 1.10%.
Oil prices were under pressure after the Energy Information Administration on Wednesday reported US crude stocks rose by 9.4 million barrels to 532.5 million barrels in the week ended 18 March. Analysts had forecast an increase of 2.5 million barrels.
At 2130 GMT West Texas Intermediate crude fell 4.2% to $39.76 per barrel and Brent slid 3.1% to $40.52 per barrel.
In economic data, the Commerce Department revealed US new home sales rose 2% to 512,000 units in February from a month ago, missing estimates for a 3.2% rise.
The Mortgage Bankers' Association said mortgage applications fell 3.3% in the week to 18 March.
Elsewhere, European stocks were mixed in the aftermath of explosions in Brussels that hurt sentiment on Tuesday. There were twin explosions at Zaventem airport and a metro station on Tuesday morning that left about 34 people dead and 250 wounded. Extremists group ISIL has claimed responsibility for the attacks.
In Asia, 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.
Company-wise, Emerald Oil's trading was halted after the oil and gas exploration company filed for chapter 11 bankruptcy protection as it has failed to manage lower oil prices.
Nike's shares slumped after reporting third quarter revenue that missed analysts' expectations.
SunEdison was in the red as the company faced questions about its fiscal amid reports that it could be heading for bankruptcy.
Krispy Kreme dipped as the doughnut maker reported holiday quarter revenue growth that trailed forecasts.
In currencies, the dollar rose 0.01% against the pound, was flat versus the euro and fell 0.02% against the yen.
S&P 500 - Risers
Pepco Holdings Inc. (POM) $26.93 +26.79%
AutoZone Inc. (AZO) $805.29 +2.46%
Yum! Brands Inc. (YUM) $80.55 +1.99%
McCormick & Co. (MKC) $95.84 +1.94%
Electronic Arts Inc. (EA) $65.05 +1.85%
Advance Auto Parts (AAP) $161.09 +1.83%
Nvidia Corp. (NVDA) $34.43 +1.71%
Amazon.Com Inc. (AMZN) $569.63 +1.63%
Allergan plc (AGN) $281.31 +1.48%
Unitedhealth Group Inc. (UNH) $129.79 +1.38%
S&P 500 - Fallers
Chesapeake Energy Corp. (CHK) $4.13 -14.32%
CONSOL Energy Inc. (CNX) $10.44 -13.22%
Freeport-McMoRan Inc (FCX) $9.75 -11.28%
Marathon Oil Corp. (MRO) $10.19 -9.90%
Peabody Energy Corp. (BTU) $2.40 -9.77%
Southwestern Energy Co. (SWN) $7.35 -9.03%
Newmont Mining Corp. (NEM) $24.98 -8.80%
Devon Energy Corp. (DVN) $25.76 -8.03%
Genworth Financial Inc. (GNW) $2.81 -7.87%
Williams Companies Inc. (WMB) $16.26 -7.77%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $129.79 +1.38%
Visa Inc. (V) $73.91 +1.30%
Johnson & Johnson (JNJ) $108.50 +1.04%
United Technologies Corp. (UTX) $99.11 +0.46%
McDonald's Corp. (MCD) $124.19 +0.30%
Procter & Gamble Co. (PG) $82.82 +0.10%
Merck & Co. Inc. (MRK) $53.08 +0.09%
American Express Co. (AXP) $60.63 +0.03%
General Electric Co. (GE) $31.07 +0.03%
Dow Jones I.A - Fallers
Nike Inc. (NKE) $62.44 -3.79%
Caterpillar Inc. (CAT) $73.68 -2.48%
Chevron Corp. (CVX) $93.59 -2.00%
International Business Machines Corp. (IBM) $145.40 -1.82%
Boeing Co. (BA) $132.86 -1.67%
Cisco Systems Inc. (CSCO) $27.83 -1.59%
Intel Corp. (INTC) $32.00 -0.99%
Walt Disney Co. (DIS) $96.83 -0.77%
Pfizer Inc. (PFE) $30.19 -0.63%
Wal-Mart Stores Inc. (WMT) $67.46 -0.60%
Nasdaq 100 - Risers
Electronic Arts Inc. (EA) $65.05 +1.85%
Nvidia Corp. (NVDA) $34.43 +1.71%
Amazon.Com Inc. (AMZN) $569.63 +1.63%
O'Reilly Automotive Inc. (ORLY) $276.44 +1.36%
Costco Wholesale Corp. (COST) $153.51 +0.84%
Mattel Inc. (MAT) $32.47 +0.78%
Kraft Heinz Co. (KHC) $76.81 +0.48%
Fiserv Inc. (FISV) $100.31 +0.39%
Cognizant Technology Solutions Corp. (CTSH) $59.06 +0.36%
Facebook Inc. (FB) $112.54 +0.26%
Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $80.15 -7.64%
Micron Technology Inc. (MU) $10.65 -6.91%
Seagate Technology Plc (STX) $34.80 -6.05%
Western Digital Corp. (WDC) $48.72 -5.10%
Tesla Motors Inc (TSLA) $222.58 -4.98%
Vimpelcom Ltd Ads (VIP) $3.84 -4.48%
Gilead Sciences Inc. (GILD) $90.08 -3.88%
Discovery Communications Inc. Class A (DISCA) $27.81 -3.67%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $49.77 -3.62% |
| | 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 | | Thursday newspaper round-up: Dyson, Brexit, US shale gas, Barclays European ministers are expected on Thursday to push telecommunications and digital service providers to work more closely with government authorities to track down terror suspects as part of a post-Brussels attack crackdown. At a hastily arranged meeting, EU ministers responsible for security issues will call for a European legislative blueprint to be drawn up by June to enable governments to obtain easier access to such "digital evidence", according to a draft statement seen by the Financial Times. - Financial Times
Dyson is developing a new product to add to its signature vacuum cleaners and high-tech hand dryers - an electric car. The British company's work on the car was confirmed in a government document revealing public funding for "Dyson to develop a new battery electric vehicle at their headquarters in Malmesbury, Wiltshire". The document, buried within the National Infrastructure Delivery Plan, said: "This will secure £174m of investment in the area, creating over 500 jobs, mostly in engineering." - Financial Times
Boris Johnson has said that leaving the EU would result in "no economic shock" at all to the UK, despite the claims of economists including the Bank of England's own Governor to the contrary. The London mayor compared fears over an economic shock on the event of a Brexit to the concerns people had over the "millennium bug", a much prophesied computer glitch which was set to wreak havoc as the world moved into the year 2000, but passed without incident. - Telegraph
Energy bills would soar by £500m a year if the UK left the EU, Amber Rudd, the energy secretary, will claim on Thursday. In remarks dismissed by leave campaigners as "absurd", the cabinet minister will deliver the latest in a series of warnings from senior government figures about the costs of Brexit. These have included claims that 600,000 jobs in the drinks industry would be safer inside the EU and that lamb and beef farmers could face an extra £330m a year bill to export their goods. - Guardian
The first US shale gas sailed into Europe bringing controversy in its wake. Ineos, the chemical group, said that its own gas carrier arrived in Norway on Wednesday with 27,500 cubic metres of American ethane on board. Shipments to Ineos's UK refinery at Grangemouth are scheduled to start later this year. - Guardian
Wafic Saïd has launched a lawsuit against Barclays for ditching him as a client after 40 years with no explanation. The Syrian-born billionaire businessman and philanthropist said yesterday that he had instructed lawyers at Carter-Ruck to issue proceedings in the High Court. Barclays is understood to have provided no documents to explain its decision to walk away from Mr Saïd after being served with a so-called subject access report under the Data Protection act. - The Times
The Times and The Sunday Times have boosted profits on the back of lower printing costs, growing subscription revenues and cost-cutting. Times Newspapers reported a pre-tax profit of £10.9 million in the year to last June, against a loss of £935,000 previously, according to accounts filed at Companies House. The increase came despite a dip in revenues from £347 million to £345 million. Operating profit was £21 million, up from £1.7 million. It is the first time the newspapers have made a pre-tax profit since 2002. - The Times |
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