Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Tuesday, 31 May 2016 10:38:07 Monitor Quote Charts News CFD's Compare Brokers Free BB   Upcoming ADVFN Webinar - Thursday June 2nd at 1pm - Sabien Technology Group PLC - LSE:SNT A presentation on the progress of the company’s Growth Strategy over the last 12 months and future plans for continued growth in the UK and Overseas. Follow by Q and A Session. Presented by Alan O'Brien, Managing Director, Sabien Technology Group PLC Click Here to register London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks gain as trading resumes after bank holiday UK stocks gained on Tuesday as trading resumed after the long weekend. Eurozone inflation data is in focus at 1000 BST with analysts expecting an improvement in May. The consumer price index is forecast to drop 0.1% year-on-year in May, compared to 0.2% in April. The European Central Bank, which is targeting inflation of just below 2%, in March announced a raft of stimulus measures to mend price stability. The ECB will make it latest policy decision on Thursday and is expected to keep policy unchanged. Meanwhile, German retail sales rose 2.3% in April compared to a year ago, beating estimates for a 1.7% increase, according to Destatis. The data for March was revised down to a decline of 0.6%. On the month retail sales dropped 0.9% in April, missing forecasts for a 0.9% rise and following a downwardly revised 1.4% fall. Still to come, US personal consumption expenditure figures at 1330 BST, the US S&P Cast/Shiller home price index at 1400 BST, the Chicago purchasing managers' index (PMI) at 1445 BST, US consumer confidence index at 1500 BST and the Dallas Fed manufacturing PMI at 1530 BST. In commodities, oil prices fell as international oil markets were hit by a rise in Middle Eastern crude exports, fuelling concerns about the global supply glut. At 0916 BST Brent crude dipped 0.77% to $49.38 per barrel and West Texas Intermediate slid 0.48% to $49.37 per barrel. In company news, IG Group shares gained after the spreadbetting firm reported solid trading in the fourth quarter and said earnings for the year are set to be slightly ahead of expectations. Property company St Modwen advanced as it said the trading for the year had started well as it continued to extract both short and long-term value-generating opportunities from its land bank through asset management activities, remediation, and success in planning and development. Why spread bet with GKFX? Take advantage of industry leading spreads from 0.4 pips in your GKFX spread betting account with the confidence of the MT4 platform. Losses may exceed deposits.   Learn more about spread betting with GKFX. Market Movers FTSE 100 (UKX) 6,283.39 0.20% FTSE 250 (MCX) 17,239.86 0.04% techMARK (TASX) 3,130.27 0.27% FTSE 100 - Risers DCC (DCC) 6,360.00p 1.60% RSA Insurance Group (RSA) 489.50p 1.53% Worldpay Group (WI) (WPG) 276.00p 1.40% Babcock International Group (BAB) 1,045.00p 1.26% Royal Mail (RMG) 537.50p 0.94% Sage Group (SGE) 610.00p 0.91% Lloyds Banking Group (LLOY) 73.09p 0.88% HSBC Holdings (HSBA) 452.25p 0.85% British American Tobacco (BATS) 4,238.50p 0.78% Compass Group (CPG) 1,298.00p 0.78% FTSE 100 - Fallers Antofagasta (ANTO) 428.90p -1.76% BHP Billiton (BLT) 827.00p -1.58% easyJet (EZJ) 1,530.00p -1.42% Kingfisher (KGF) 370.30p -1.15% Taylor Wimpey (TW.) 203.70p -1.12% Intu Properties (INTU) 301.90p -0.92% Mondi (MNDI) 1,347.00p -0.88% Rio Tinto (RIO) 1,947.00p -0.87% Mediclinic International (MDC) 863.00p -0.86% British Land Company (BLND) 753.50p -0.86% FTSE 250 - Risers Alliance Trust (ATST) 527.00p 3.64% Zoopla Property Group (WI) (ZPLA) 328.10p 2.37% Brewin Dolphin Holdings (BRW) 258.00p 1.98% Hikma Pharmaceuticals (HIK) 2,262.00p 1.66% Shawbrook Group (SHAW) 299.90p 1.66% Serco Group (SRP) 109.20p 1.58% IG Group Holdings (IGG) 810.00p 1.57% Ophir Energy (OPHR) 71.00p 1.43% OneSavings Bank (OSB) 335.00p 1.39% Wood Group (John) (WG.) 624.00p 1.38% FTSE 250 - Fallers Evraz (EVR) 108.20p -7.12% Centamin (DI) (CEY) 93.00p -2.67% Investec (INVP) 474.50p -2.65% DFS Furniture (DFS) 295.00p -2.32% Hastings Group Holdings (HSTG) 183.40p -2.29% Marshalls (MSLH) 322.70p -2.12% Kaz Minerals (KAZ) 147.60p -1.99% Shaftesbury (SHB) 917.00p -1.93% Capital & Counties Properties (CAPC) 336.90p -1.81% UK Event Calendar Tuesday 31 May INTERIMS Intelligent Energy Holdings INTERIM DIVIDEND PAYMENT DATE Inland Homes, McCarthy & Stone, Smart (J) & Co. QUARTERLY PAYMENT DATE City of London Inv Trust, Ediston Property Investment Company, TwentyFour Select Monthly Income Fund Limited INTERNATIONAL ECONOMIC ANNOUNCEMENTS Chicago PMI (US) (14:45) Consumer Confidence (US) (15:00) M3 Money Supply (EU) (09:00) Personal Consumption Expenditures (US) (13:30) Personal Income (US) (13:30) Personal Spending (US) (13:30) Retail Sales (GER) (07:00) Unemployment Rate (EU) (10:00) Unemployment Rate (GER) (08:55) FINALS Atlantis Resources Limited (DI), HaiKe Chemical Group Ltd. (DI), Kainos Group , Renold ANNUAL REPORT TechFinancials (DI) SPECIAL EX-DIVIDEND PAYMENT DATE Netplay TV AGMS Nord Gold NV GDR (Reg S), OJSC Phosagro GDR (Regs), Parity Group, Tethys Petroleum Ltd, XLMedia FINAL DIVIDEND PAYMENT DATE Action Hotels, Belvoir Lettings, Capita, Empresaria Group, F&C Private Equity Trust, Hastings Group Holdings , Henry Boot, Hostelworld Group , LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares, McColl's Retail Group , Mobeus Income & Growth Vct, NAHL Group, Senior Q1 Alpha Bank GDR (Reg S) USD, Avengardco Investments Public Ltd GDR Introducing the CrowdTrading platform revolutionising online trading! Tap into the power of the crowd with the CrowdTrading platform that is taking the world of Online Trading by storm! Take advantage of our massive $50 sign-up gift! It’s the perfect boost to get you started trading today! Sign up now! Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks waver as Fed remains in focus; VW skids European stocks wavered in early trade as the timing of the next rate hike by the Federal Reserve remained a key question on investors' minds. At 0855 BST, the benchmark Stoxx Europe 600 index was up 0.1%, while Germany's DAX and France's CAC 40 were flat. At the same time, oil prices were mixed as the production of Canadian oil resumed and investors looked ahead to this Thursday's meeting of the Organization of the Petroleum Exporting Countries. West Texas Intermediate was up 0.5% at $49.57 a barrel while Brent crude was down 0.3% at $49.63. Morgan Stanley said the OPEC meeting was unlikely to end in anything other than a statement of support for the current condition of oil markets. "Renewed faith in the strategy and higher prices work against intervention, as do personnel changes and recent policy failures. Many OPEC members also have plans to grow, so cutting supply now may interfere with those objectives. That said, low expectations and limited positioning ahead of the meeting do suggest that any surprise could have an outsized impact," the bank said. Investors in the UK got their first chance to react to the latest comments by Federal Reserve Chair Janet Yellen, who said on Friday that a rate hike in the coming months "would be appropriate" if the economy and labour market continue to show an improvement. "No doubt much of the general talk impacting market action is still about a US rate hike either in June or July. However traders are not only increasingly confident that the US economy is strong enough to withstand another hike but also that the Fed won't pull the trigger if this would mean that the US economy is being put at risk," said Markus Huber, a trader at City of London Markets. "Trading volume should be on the light side as not all traders will be back in the markets in the aftermath of public holidays in the US and the UK yesterday." Corporate news was thin on the group. German car maker Volkswagen skidded after posting a 20% drop in first-quarter profit. French car maker Peugeot Citroen was in focus following a report the Peugeot family is planning to hold talks with the French government to discuss the future of its stake in the company. In London, shares in IG Group rallied after the spreadbetting firm said it expects earnings for the year to be slightly ahead of views after a solid fourth quarter. Earlier, data from Destatis showed German retail sales unexpectedly fell in April. Retail sales were down 0.9% on the month, versus expectations for a 0.9% increase. Still, this was better than the 1.4% drop seen in March. On the year, retail sales were up 2.3%, beating economists' expectations of a 1.9% jump. Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics, said the data was poor, with growth slowing rapidly. "A downbeat headline, which indicates that the poor ending to the first quarter for German consumers' spending continued in the beginning of Q2. With retail sales down 2.3% in the last two months, though, a rebound in May and June is a good bet," it said. 7 Secret Trading Strategies This FREE guide will help you take advantage of the market, no matter what the conditions! Download Your Copy Now  US Market Report The markets were closed today, because of Memorial Day Open Trading Account Thinking about trading binary options? Test out a free $10,000 Demo account with iq option. Click Here to start trading Newspaper Round Up Tuesday newspaper round-up: HSBC, Brexit polls, Alliance Trust HSBC's Stuart Gulliver is the European bank chief executive who investors would most like to be replaced, according to a recent poll of large shareholders. When 74 institutional investors were polled by Autonomous Research and asked to each name three banks in Europe "most in need of a change in CEO", Mr Gulliver, who has run the region's biggest lender since 2011, won by a chunky margin. - Financial Times UK companies have become gloomier about their trading prospects and the economic outlook as the EU referendum approaches, according to a survey. Lloyds Bank's latest barometer of business mood found confidence about trading prospects dipped to a three-year low in May, with overall business confidence and hiring plans also down. - The Guardian A triple burden of higher costs linked to the living wage, rapidly changing consumer demands and uncertainty surrounding the EU referendum is dampening optimism among UK retailers, a new survey shows. Red tape and cyber threats were also identified as factors that could harm potential growth prospects, according to PwC. - The Telegraph A third of bosses at Britain's biggest public companies say they have spent up to £1 million preparing for the consequences of leaving the EU. A survey of senior board members at FTSE 350 companies has found that almost 7% intend to relocate parts of their UK operation should the nation vote to leave on June 23 and 17% said they would consider moving if there were a vote for Brexit. - The Times Hedge funds and investment banks have commissioned private exit polls in an attempt to make profits from the result of the UK's referendum on EU membership next month. By finding out the voting patterns early on June 23 and predicting the result, entrepreneurial traders can lay big bets on the result, hoping to be the first to benefit financially from a government-induced swing in sterling since George Soros bet against the pound when it crashed out of the then European exchange rate mechanism in 1992. - Financial Times Brent Hoberman has pledged to create 200 new British technology start-ups over the next five years, claiming that he has rewritten the rulebook for building successful new businesses, and that existing incubators and accelerators are not fit for purpose. The LastMinute.com co-founder has created a new venture aimed at both building new businesses from scratch through an "incubator" and helping new start-ups to scale through its "accelerator". - The Telegraph Lloyds Banking Group has seen an 80pc to 90pc drop in cyber attacks as online criminals and fraudsters have switched their attention to other industries. Banks have been under increasing pressure from hackers, driving even the Bank of England to include cyber attacks in reports on the key risks to the financial sector. - The Telegraph Energy regulator Ofgem is to lose about 80 staff as it seeks to slash its costs by 15pc, its chief executive has revealed. The watchdog is also preparing to move out of its Thames-side offices at 9 Millbank in favour of a cheaper London address, under plans to hit savings targets, Dermot Nolan said. - The Telegraph The French economy grew at a faster rate than expected in the first quarter of this year, one of two favourable economic snapshots released yesterday from eurozone countries. There were also more favourable numbers on German inflation, indicating that the continent's biggest economy is emerging from deflation, after showing a 0.3 per cent decline in the inflation rate in April. - The Times Deloitte has named its highest-ever proportion of female partners in the accountancy firm's annual round of promotions but the pool of senior employees is still more than 80% male. The 'big four' accountant said 24 of 80 new partners in its UK business, which includes offices in Switzerland, are female. - The Guardian Brussels is to call on EU governments not to ban or limit services such as Uber and Airbnb, in a bid to head off a regulatory onslaught from national authorities on the "sharing economy" in Europe. - FT Chinese property developers have suffered a string of setbacks in overseas building projects from New York to Sydney in recent weeks, highlighting the cultural and operational challenges these groups face working in unfamiliar territories. Chinese builders have ramped up foreign investment in recent years as the domestic market has slowed, with outbound property investment rising 0.5% to $25.1bn last year. - Financial Times One of Europe's fastest growing online health and beauty owners has snapped up a rival as it bulks up ahead of an anticipated flotation next year. The Hut Group has bought Salu Beauty, an upmarket US and Australian retailer that trades as www.skincarestore.com.au and www.skinstore.com, from Walgreens Boots Alliance, with no prosy disclosed. - The Times Noble Group, Asia's biggest commodities trader, abruptly parted company with its chief executive after a period of underperformance and announced the sale of its American energy trading business to cut debt. Yusuf Alireza, 45, a former Goldman Sachs banker, has resigned "for family reasons", the company announced in a regulatory filing. - The Times An oil company chaired by Giles Clarke, former boss of the England and Wales Cricket Board, is under fire from investors over the generosity of management share incentives. Shareholders in Amerisur Resources, which is quoted on AIM and has operations in Colombia, are angry about share options granted last week under a long-term investment plan (LTIP) to Mr Clarke and to John Wardle, chief executive, and Nick Harrison, the part-time finance director. - The Times The former chief executive of Zurich Insurance has committed suicide, the company said on Monday, less than three years after the company's chief financial officer also took his own life. The death of Martin Senn, 59, takes the number of suicides by executives at Switzerland's biggest companies to five in just eight years. - The Guardian HNA Group has agreed to buy a 13% stake in Virgin Australia Holdings and is in talks to acquire 49.99 per cent of Air France's Servair, as the Chinese conglomerate continues its aggressive expansion overseas. Virgin, Australia's second-biggest airline, said on Tuesday that the Chinese group would make a A$159m (US$115m) equity investment as part of a strategic commercial alliance. - FT   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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 27 May 2016 18:37:34 Monitor Quote Charts News CFD's Compare Brokers Free BB   Brexit: How is the stock market reacting? Which stocks should you buy and which are best avoided. With the Brexit debate intensifying in the run up to the 23 June referendum, how is the stock market reacting? Which stocks & sectors are benefitting and which are to be avoided? Our exclusive special report answers these questions and more. Download our latest Brexit Report today. Losses can exceed deposits London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks flat after mixed economic data London stocks were flat at the closing bell on Friday as traders assessed mixed economic data and awaited a speech from Federal Reserve chair Janet Yellen. UK consumer confidence improved in May, according to a survey. GfK's consumer confidence index improved to -1 in May from -3 a month earlier, beating estimates for a reading of -4. "It is a relief that consumer confidence was a little firmer in May following April's drop to a 16-month low, but the suspicion is that consumers will be cautious in their spending amid heightened uncertainty in the run-up to the 23 June referendum on UK membership of the European Union," said Howard Archer, chief UK and European economist at IHS Global Insight. At the same time, a declaration at the G7 meeting in Japan said a vote by the UK to leave the EU would pose a "serious threat to global growth". The group warned in its final statement that Brexit would reverse the trend of increased global trade, investment and jobs. In the US, the Commerce Department's second estimate of first quarter gross domestic product was for a 0.8% rise at a seasonally-adjusted rate, up from the initial estimate of 0.5% but a touch below expectations of 0.9%. Meanwhile, consumer spending was up 1.9%, in line with the initial estimate and outlays on new home construction rose at a rate of 17.1% compared to an initial estimate of 14.8%. Pantheon Macroeconomics said: "Overall, these data don't materially change our view that second quarter growth will be 3% or better, and they don't fix the very long running statistical problem which tends to depress first quarter GDP growth relative to the trend. Consumer sentiment in the US improved less than expected in May, according to the final reading from the University of Michigan. The University of Michigan's consumer sentiment index printed at 94.7, down from the initial estimate of 95.8 but above the April reading of 89.0 and the May 2015 reading of 90.7. Federal Reserve chair Janet Yellen was due to give a speech in Harvard, which investors will be scrutinising for any further clues on the timing of the next interest rate hike. In commodities, oil prices were under the cosh as supply glut concerns persisted. Brent crude fell 0.52% to $49.33 per barrel and West Texas Intermediate dropped 0.24% to $49.36 per barrel at 1654 BST. On the corporate front, Carnival was also on the front foot, having slumped in the previous session as it went ex-dividend. United Utilities bounced back after falling on Thursday, when it reported a big drop in full-year underlying profits following the introduction of new regulated price controls and because of the expected increase in depreciation and other costs. On the downside, outsourcer Capita was under the cosh after Exane BNP Paribas downgraded the stock 'underperform' from 'neutral'. Dublin-based pharmaceuticals group Shire was weaker after it announced that 93.8% of its shareholders voted in favour of its $32bn merger with US-based Baxalta Inc. Is Your Pension Enough? If you have a £250,000 portfolio, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can use right now. Don't miss it! Click Here to Download Your Guide! Market Movers FTSE 100 (UKX) 6,264.77 -0.01% FTSE 250 (MCX) 17,206.33 0.08% techMARK (TASX) 3,117.97 -0.11% FTSE 100 - Risers Royal Mail (RMG) 532.50p 2.01% Carnival (CCL) 3,438.00p 1.75% 3i Group (III) 552.00p 1.66% Next (NXT) 5,535.00p 1.65% Hammerson (HMSO) 588.00p 1.47% United Utilities Group (UU.) 969.00p 1.47% Burberry Group (BRBY) 1,097.00p 1.39% easyJet (EZJ) 1,551.00p 1.24% Kingfisher (KGF) 375.10p 1.13% InterContinental Hotels Group (IHG) 2,667.00p 1.10% FTSE 100 - Fallers Anglo American (AAL) 612.00p -2.73% Antofagasta (ANTO) 436.60p -2.52% Randgold Resources Ltd. (RRS) 5,735.00p -2.05% Capita (CPI) 1,076.00p -2.00% Rolls-Royce Holdings (RR.) 614.50p -1.76% Fresnillo (FRES) 1,017.00p -1.45% BHP Billiton (BLT) 840.30p -1.35% DCC (DCC) 6,260.00p -1.34% Berkeley Group Holdings (The) (BKG) 3,330.00p -1.33% Standard Chartered (STAN) 542.00p -1.31% FTSE 250 - Risers Synthomer (SYNT) 361.90p 5.14% B&M European Value Retail S.A. (DI) (BME) 304.90p 4.88% PayPoint (PAY) 950.50p 4.85% Softcat (SCT) 343.50p 4.25% Serco Group (SRP) 107.90p 3.75% Phoenix Group Holdings (DI) (PHNX) 879.50p 3.53% OneSavings Bank (OSB) 331.60p 3.08% esure Group (ESUR) 284.40p 2.97% Rank Group (RNK) 254.80p 2.82% Marshalls (MSLH) 330.30p 2.10% FTSE 250 - Fallers Acacia Mining (ACA) 309.40p -4.71% Centamin (DI) (CEY) 95.55p -4.45% Sophos Group (SOPH) 217.80p -3.29% Clarkson (CKN) 2,311.00p -3.22% Kaz Minerals (KAZ) 150.60p -2.40% Amec Foster Wheeler (AMFW) 442.70p -2.08% Rotork (ROR) 195.50p -2.05% Diploma (DPLM) 741.50p -1.98% Tullow Oil (TLW) 237.50p -1.94% Upcoming ADVFN Webinar - Thursday June 2nd at 1pm - Sabien Technology Group PLC - LSE:SNT A presentation on the progress of the company’s Growth Strategy over the last 12 months and future plans for continued growth in the UK and Overseas. Follow by Q and A Session. Presented by Alan O'Brien, Managing Director, Sabien Technology Group PLC Click Here to register Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks end the week on a quiet note European equity markets were little changed on Friday, struggling for direction as oil prices fell back and investors awaited a speech from Federal Reserve Chair Janet Yellen. The benchmark Stoxx Europe 600 index was up by 0.21% or 0.73 points to 349.64 by the end of trading, while Germany's DAX edged higher by 0.13% or 13.60 points to end at 10,286.31 and France's CAC 40 advanced 0.05% or 2.10 points to 4,514.74. US data were again a bit of a mixed bag, but did appear to point to a more solid outlook for economic growth in the second quarter of 2016. The rate of growth for US gross domestic product in the first quarter of the year was revised higher from an annualised pace of 0.5% to 0.8%, but the preliminary estimate of a 1.9% expansion in household consumption was left unchanged, contrary to some analysts´ expectations for a larger increase. On a more positive note, the final reading on the University of Michigan´s consumer confidence gauge for May saw a sub-index tracking current conditions set a fresh post-recession high alongside expectations bouncing back sharply from their recent declines, Barclays´s Jesse Hurwitz said in a research note sent to clients. "The morning's final May release comes as a welcome sign for the consumer outlook. We expect that better readings on sentiment and a healthy rebound in April consumption growth will solidify expectations for a bounce-back in Q2 real GDP growth," Hurwitz said. At the same time, oil prices were on the back foot after Brent crude breached the $50 a barrel mark on Thursday for the first time since November. West Texas Intermediate was 0.41% lower at $49.28 a barrel and Brent crude was down 0.73% at $49.23. "Markets here, and in the US and Asia, have lost momentum after big gains midweek," said Lee Wild, head of equity strategy at stockbroker Interactive Investor. "A drop in oil prices back below $50 and caution ahead of Fed chair Janet Yellen's speech tonight will make it difficult for them to make much headway, especially ahead of a long weekend in the UK. Revisions to US first-quarter GDP later could also fuel another dollar rally. A Fed rates meeting next month, the EU referendum and weak corporate earnings make this a tricky time for investors, and many are sitting on cash." Market participants were also watching out for Yellen's speech at Harvard which was scheduled for after the close of trading in London, as they looked for further clues on the timing of the next Fed rate hike, although there was a chance that she might not address monetary policy at all on this ocassion. Societe Generale said: "Little emphasis on the monetary policy outlook is expected at this event. The appearance to look forward to will be the Chair's speech in Philadelphia on 6 June, the Monday following the May employment report and a day before entering the blackout period for the upcoming FOMC meeting. In corporate news, Swiss pharmaceutical company Roche rallied after announcing positive results from its trial of drug Gazyva. Spain's Banco Popular was under the cosh again a day after it announced a rights issue. AstraZeneca reversed course in late trading to end higher after the phamaceuticals giant announced positive results for its Faslodex drug for the treatment of metastatic breast cancer, but also said US regulators will not currently approve its new drug for high potassium levels because of a manufacturing issue. Introducing the CrowdTrading platform revolutionising online trading! Trade360’s cutting edge CrowdTrading platform is rocking the world of online trading! Our starting $25 dollar minimum deposit is the industry’s best deal! Break into the exciting world of Online Trading for the equivalent of less than a dollar a day. Sign up now! US Market Report US open: Stocks gain after US GDP beats forecasts US stocks gained on Friday after a better-than-expected gross domestic product report. At 1445 BST the Dow Jones Industrial Average rose 0.12%, the S&P 500 increased 018% and the Nasdaq grew 0.17%. The Commerce Department's second estimate of first quarter US gross domestic product was for a 0.8% rise at a seasonally-adjusted rate, up from the initial estimate of 0.5% but a touch below expectations of 0.9%. Meanwhile, consumer spending was up 1.9%, in line with the initial estimate and outlays on new home construction rose at a rate of 17.1% compared to an initial estimate of 14.8%. Pantheon Macroeconomics said: "Overall, these data don't materially change our view that second quarter growth will be 3% or better, and they don't fix the very long running statistical problem which tends to depress first quarter GDP growth relative to the trend. "This, presumably, is why the April FOMC minutes showed that "most" participants believed growth "had likely not deteriorated as much as was suggested by the recent data on spending and production". In other words, when they said they wanted to see evidence of a rebound in Q2, they were pretty sure they would get it." Federal Reserve chair Janet Yellen is due to give a speech at Harvard at 1530 BST, which investors will be scrutinising for any further clues on the timing of the next interest rate hike. However, Societe Generale expects there to be little emphasis on the monetary policy outlook at the event. "The appearance to look forward to will be the Chair's speech in Philadelphia on June 6, the Monday following the May employment report and a day before entering the blackout period for the upcoming FOMC meeting," the French bank said. In commodities, oil prices were under the cosh as supply glut concerns persisted. West Texas Intermediate crude fell 1.16% to $48.91 per barrel and Brent dropped 1.7% to $48.76 per barrel at 1456 BST. In corporate news, Ulta Salon Cosmetics & Fragrance jumped after releasing better-than-expected first-quarter results. Valeant Pharmaceuticals was also on the front foot after saying it had rejected a takeover approach from Takeda Pharmaceutical and TPG. Open Trading Account Thinking about trading binary options? Test out a free $10,000 Demo account with iq option. Click Here to start trading Broker Tips Broker tips: M&S, Capita, Softcat Societe Generale downgraded Marks & Spencer to 'hold' from 'buy' and cut the price target to 424p from 545p following the retailer's full-year results earlier in the week. The French bank said M&S was certainly worth holding for the total dividend yield. It said the company remains strongly cash generative, backed by healthy margins and growth in the food business, with a commitment to making ongoing surplus cash returns to shareholders. M&S announced a 4.6p special dividend for the first half and SocGen assumes a further 4.6p special dividend in the second half, along with special dividends in the outer years, in view of the company's target net debt/EBITDA range of 1.5x-2.0x. "The 7% total estimated dividend yield is attractive. However, we would need more than 15% total shareholder return to retain the 'buy' recommendation," the bank said. SocGen said that while M&S was lucky to have a top-end market position focusing on specialty, convenience, health and quality, Clothing and Home present an ever-increasing challenge from all angles. "We do not expect sustainable like-for-like sales recovery at any point. It is difficult to disagree with the measures that are being taken in response to detailed customer feedback, but there is very low visibility on recovery at this stage in our view. Hence we downgrade," it said. The quality of Capita´s earnings is weak and both on and off-balance sheet liabilities continue to rise, analysts at Exane BNP Paribas said. In particular, analysts George Gregory and Henry Naish took issue with the outsourcer´s accounting treatment for non-underlying software & license amortisation. Following a meeting with the company´s finance chief, Nick Greatorex, the analysts said Greatorex´s efforts to reduce the tendency towards high accruals upon acquistion and for cutting accrued income were "encouraging". Nonetheless, "earnings quality has remained weak and meanwhile both on and off-balance sheet liabilities have continued to rise, pointing to a concerning imbalance," Gregory and Naish said in a research note sent to clients. So while Capita shares were trading at a discount versus peers in terms of their price-to-earnings mulltiples it was simultaneously - and with few exceptions - changing hands at a premium on the basis of its enterprise value/unlevered free cash flow. Exane downgraded shares of Capita to 'underperform' from 'neutral' but stuck by its 1,050p target. Berenberg initiated coverage of Softcat, which provides IT infrastructure to corporate and public sector organisations, with a 'buy' rating and a 425p price target. The bank said the business has successfully quadrupled revenues in the past five years and delivered EBIT margins materially higher than peers. It said that with its capital-light model, Softcat should be able to deliver a return on capital employed of 60% in 2016. "Despite a strong performance in the shares since its IPO in November 2015, we believe Softcat still has scope to grow its customer base and take market share. "With strong cash conversion we forecast the business to grow its net cash position substantially, giving capacity for major shareholder returns." Berenberg highlighted "serious top-line potential" at Softcat, pointing out that the company has delivered a revenue compound annual growth rate of 33% since 2010. The market growing at around 6% a year across the same period means Softcat outperformed the market by a factor of 5x. 7 Secret Trading Strategies This FREE guide will help you take advantage of the market, no matter what the conditions! Download Your Copy Now    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

ADVFN Newsdesk - Yellen Speech Keeps Markets on Tenterhooks

ADVFN  World Daily Markets Bulletin Daily world financial news Friday, 27 May 2016 10:55:09    Monitor Quote Charts News Toplists Forex Boards   The 10-Minute Investor Consistently outperform the market in less than 10 minutes a day.  Discover a step-by-step system to move from inconsistent to consistent gains in the stock market. Break free of the old, broken investing model and plug-in to a successful investing plan. Attend my free webinar and learn: My 3-Part stock buying checklist My 10-Minute Routine 4 big mistakes to avoid. LEARN MORE US Market NYSE AMEX Dow Jones Nasdaq Please click on the images to view our interactive charts The major U.S. index futures are pointing to a modestly higher opening on Friday, with sentiment still fragile despite GDP data showing an upward revision to first estimates, roughly in line with estimates. Commodities are mostly lower and the dollar is firmer. The mood across the Atlantic is also wavering after Asian stocks closed mostly higher. The domestic markets could keep an eye on the direction of commodity prices and a domestic consumer sentiment reading ahead of an all important speech by Fed Chair Janet Yellen. U.S. stocks closed a lackluster session on Thursday on a mixed note amid the release of some strong data and a retreat in oil prices. The major averages opened higher after two separate reports revealed that jobless claims fell more than expected and durable goods orders rose more than expected. However, the major averages retreated in early trading and moved about in a lackluster manner until late afternoon trading. The Dow Industrials continued to trade mostly lower before ending down 23.22 points or 0.13 percent at 17,828. Despite recovering in late afternoon trading and holding above the unchanged line till late trading, the S&P 500 Index pulled back in the final few minutes and ended 0.44 points or 0.02 percent lower at 2,090. The Nasdaq Composite moved higher in the afternoon, recovering from a insipid morning session, with the tech heavy index adding 6.88 points or 0.14 percent before ending at a new one-month high of 4,902. Eighteen of the thirty Dow components ended the session higher, while the remaining twelve stocks declined. DuPont (DD) and Goldman Sachs (GS) were among the worst performers of the session. Among the sectors, airline, basic material, oil service, banking and biotechnology stocks came under selling pressure but utility and steel stocks gained ground. On the economic front, the jobless claims report for the week ended May 21st showed that jobless claims fell to 268,000 from the previous week's unrevised reading of 278,000. Economists had expected claims to have fallen more modestly to 275,000.  However, the four-week average rose by 2,750 to 278,500. Continuing claims calculated with a week's lag also rose by 10,000 to 2.163 million in the week ended May 14th.? A report released by the Commerce Department showed that durable goods orders jumped 3.4 percent month-over-month in April, much faster than the 0.3 percent increase forecast by economists and an upwardly revised 1.9 percent gain for March. Excluding transportation, orders were up 0.4 percent, in line with expectations. The National Association of Realtors reported that pending home sales surged up 5.1 percent month-over-month in April, much stronger than the 0.8 percent increase expected by economists. Among the regions, the West saw an 11.4 percent jump in pending sales, and pending sales increased 5.1 percent in the South. Secrets of the 1%: How the Rich Pay Lower Taxes Than You I'm about to blow the lid off a secret the 1% don't ever want you to know.  It's a "billionaire's tax code" full of loopholes and subsidies and tax breaks 99% of us never hear about. FREE REPORT reveals 3 of the biggest tax loopholes and how you can start lowering your tax bite today. US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts While the Commerce Department released a report showing stronger than previously estimated U.S. economic growth in the first quarter, the pace of growth still reflects a significant slowdown. The report said the pace of growth in gross domestic product was upwardly revised to 0.8 percent from the initial estimate of 0.5 percent. Nonetheless, the revised GDP growth in the first quarter compares to the 1.4 percent jump seen in the fourth quarter and the 0.9 percent increase expected by economists. Consumer spending growth slowed to 1.9 percent from 2.4 percent. Non-residential investment fell 5.9 percent, with the drop tempered by a 14.8 percent jump in residential investment. Inventories and net exports also deducted from growth.  At 10 am ET, the University of Michigan is scheduled to release its final U.S. consumer sentiment index for May. The consensus estimate calls for a small downward revision to the mid-month reading to 95.5. Yellen will receive an award from the Radcliffe Institute for Advanced Study at Harvard University and speak with Harvard Professor Gregory Mankiw at 1:15 pm ET. 251 Trades Delivered to Your Inbox -- 100% FREE For the next 24 hours only, you can get the very best trading ideas from our all-star line-up of pros delivered to your inbox each and every trading day absolutely FREE. Seven A-list traders duke it out every day to see whose trade will be featured as the #1 trade of the day.  Readers have already locked in monster double and triple-digit profits of 38% - 212% in 2015. With a new red-hot trade coming out every single day the market is open, it's easy for you to get on board for our next round of profits! There is no catch -- there are no forms to fill out... no strings... no credit card required. Just click here now to enter your email address and watch your inbox for tomorrow morning's trade. Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Updating its June quarter guidance to reflect the SanDisk acquisition, Western Digital (WDC) said it expects non-GAAP earnings of 65-70 cents per share, down from its earlier guidance of $1 to $1.10 per share. The company raised its revenue guidance to $3.35 billion to $3.45 billion from $2.6 billion to $2.7 billion. Big Lots (BIG) reported better than expected first quarter results and raised its earnings per share guidance for the full year. GameStop (GME) reported better than expected first quarter non-GAAP earnings per share but its revenues fell 4.3 percent year-over-year. The company's second quarter and full year guidance was lackluster. Deckers Brands (DECK) said Dave Powers will assume the role of CEO following the retirement of Angel Martinez, effective May 31st, 2016. The company reported better than expected fourth quarter non-GAAP earnings per share and 11.2 percent sales growth. However, the company's first quarter and full year 2017 guidance was weak. Lab equipment maker Thermo Fisher Scientific (TMO) has agreed to acquire electron microscope maker FEI Co. (FEIC) for about $4.2 billion in cash. Waste Connections (WCN) announced shareholder approval of its previously announced acquisition by Progressive Waste. Bill Mathews Just Released a New Stock Alert! And I don't know about you, but I always want to listen when one of the best small-cap investors in the world gives me a stock tip. Over the last 7 year's Bill has given 342 stock picks and 99.7% have gone up but the best part is how much. Right now his same 342 stock picks have an average gain of 209%. And it's all thanks to The Cheap Investor system which has been honed over the last 34 years. Bill's new pick is a single medical development that has the potential to upset a $47 billion Industry. Trust me you don't want to miss this. Click Here Now To Get Bill's New Stock Alert European Markets European stocks opened lower as the G7 heads of states meet today for the second day in Japan. Weakness in commodity prices and apprehension ahead of a public appearance by the Fed Chair also dented optimism. The averages are currently mixed. In major corporate news, Philips Lighting, the splinter group of Dutch consumer electronics giant Philips (PHG), saw its shares rally on its debut. On the economic front, the results of a survey by GfK Group showed that U.K. consumer confidence remained depressed in May despite improving from the previous month. The index came in at -1 compared to -3 in April and the -4 expected by economists. French consumer confidence unexpectedly strengthened to its highest level in more than fifteen years in May, as households were less pessimistic regarding their future financial situation and saving intentions for the next 12 months, data from French statistical office INSEE showed. The consumer confidence index rose to 98 in May from 94 in March and April. Economists had expected the measure to remain steady. Do You Own Any of the Most Dangerous Stocks in America? You can't trust Wall Street when it comes to preserving your nest egg. Just released list of 25 stocks to sell is available free. Download the complete list and check it against your own portfolio. According to our latest research, if you own ANY of these D and F rated stocks, you could suffer huge losses in the coming months. Asian markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The Asian markets advanced, ignoring the lackluster showing by Wall Street stocks overnight. The Indian and Singaporean markets moved notably higher, while the Chinese market bucked the uptrend with a marginal loss. The Japanese market rose as yen trading was subdued following tame inflation data that led to expectations that the government will delay a proposed sales tax hike. The Nikkei 225 Index opened higher and rose steadily in early trading. After pulling back slightly in late morning trading, the index moved roughly sideways before ending up 62.38 points or 0.37 percent at a one-month high of 16,835. Housing, chemical, pharma, financial, real estate, utility and most export stocks moved to the upside, while food stocks ended mixed. On the other hand, retail and paper stocks came under selling pressure. Australia's All Ordinaries Index hovered in positive territory throughout the session before ending 17.80 points or 0.33 percent higher at a more than nine-month high of 5,470. The market witnessed broad based strength led by consumer staple and IT stocks. However, material and industrial stocks moved to the downside. Hong Kong's Hang Seng Index ended at 20,577, up 179.66 points or 0.88 percent, while China's Shanghai Composite edged down 1.40 points or 0.05 percent to 2,821. On the economic front, a report released by Japan's Ministry of Internal Affairs and Communications showed that annual core consumer price inflation came in at -0.3 percent in April, the same rate as in March. Economists expected a -0.4 percent rate for the month. Core consumer prices for the Tokyo region, considered a leading indicator for the trend in the whole of Japan, fell 0.5 percent in May following a 0.3 percent drop in April. Economists expected a 0.4 percent decrease for the month. Data released by the Chinese National Bureau of Statistics showed that industrial profits rose 4.2 percent year-over-year in April, slower than the 11.1 percent increase in March. Free Options E-Book: How To Win 80% of Trades Do you trade options like the professionals do? Most options traders make the same mistakes – which is why they consistently lose money. But when you learn just 3 simple strategies, you can earn consistent income.  Claim your free E-Book now for details. Currency and Commodities Markets Crude oil futures for July delivery are sliding $0.36 to $49.12 a barrel after slipping $0.08 to $49.48 a barrel on Thursday. The most actively traded gold futures for August delivery are trading currently at $1,222.60 an ounce, down $0.1 from the previous session's close of $1,222.70 an ounce. The June futures ended at $1,220.40 an ounce on Thursday, down $3.40. On the currency front, the U.S. dollar is trading at 109.59 yen compared to the 109.76 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1167 compared to yesterday's $1.1194.     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