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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 gain ahead of UK inflation data London stocks rallied on Tuesday as oil prices gained and investors awaited the release of UK inflation figures.
Oil prices advanced after Goldman Sachs said the market had finished almost two years of oversupply and moved to a deficit following global production disruptions.
Brent crude rose 0.62% to $49.28 per barrel and West Texas Intermediate climbed 1.03% to $48.22 per barrel at 0851 BST.
UK inflation will be in focus at 0930 BST, with analysts expecting to see a slowdown further away from the Bank of England's 2% target.
Economists expect the consumer price index eased to 0.3% month-on-month growth in April from 0.4% in March. On the year, CPI is estimated to remain at 0.5% increase.
Core inflation, which excludes volatile items such as fuel and food, is expected to slow to 1.4% year-on-year from 1.5%.
"Consumer price inflation is expected to have edged down in April as a consequence of an unwinding of significant price increases in March that were the consequence of the earlier Easter this year (in particular, air fares)," said Howard Archer, chief UK and European economist at IHS Global Insight.
"However, this is expected to have been partly countered by some upward pressure from increased petrol prices and also possibly a firming in food prices."
US inflation is also due at 1330 BST. In contrast to the UK, CPI is expected to pick-up to 0.3% month-on-month growth in April from 0.1% in March. On a year-on-year basis CPI is forecast to rise 1.1% in April following a 0.9% increase a month earlier. The Federal Reserve is targeting 2% inflation and will be taking the data into consideration ahead of its next decision on interest rates in June.
Among corporate stocks, Vodafone shares gained after the company's organic sales returned to growth and beat expectations in the full year after a strong performance in the fourth quarter, hiking the final dividend 2%.
Land Securities advanced after it posted what it described as "strong" preliminary results on Tuesday, with asset values, revenue and earnings all increasing in the 12 months to 31 March.
Healthcare company BTG jumped as it more than doubled full year pre-tax profits to £57.5m on the back of a 22% jump in revenues to £447.5m. |
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| Market Movers
FTSE 100 (UKX) 6,205.69 0.88%
FTSE 250 (MCX) 16,805.70 0.64%
techMARK (TASX) 3,073.09 0.68%
FTSE 100 - Risers
Anglo American (AAL) 643.70p 5.61%
Taylor Wimpey (TW.) 194.80p 5.35%
Glencore (GLEN) 138.95p 4.00%
BHP Billiton (BLT) 871.50p 3.75%
Ashtead Group (AHT) 906.00p 3.37%
Berkeley Group Holdings (The) (BKG) 3,078.00p 3.12%
DCC (DCC) 6,330.00p 2.93%
Rio Tinto (RIO) 2,069.00p 2.83%
Antofagasta (ANTO) 436.50p 2.56%
Land Securities Group (LAND) 1,167.00p 2.46%
FTSE 100 - Fallers
Mediclinic International (MDC) 824.50p -0.60%
Compass Group (CPG) 1,273.00p -0.55%
easyJet (EZJ) 1,435.00p -0.42%
Paddy Power Betfair (PPB) 8,975.00p -0.39%
Fresnillo (FRES) 1,145.00p -0.35%
Randgold Resources Ltd. (RRS) 6,260.00p -0.32%
Bunzl (BNZL) 2,068.00p -0.19%
Admiral Group (ADM) 1,871.00p -0.11%
Imperial Brands (IMB) 3,772.00p -0.11%
Capita (CPI) 1,081.00p -0.09%
FTSE 250 - Risers
Lookers (LOOK) 141.10p 7.14%
Aggreko (AGK) 1,092.00p 5.92%
Evraz (EVR) 126.90p 4.79%
International Personal Finance (IPF) 254.90p 3.79%
AO World (AO.) 168.70p 3.50%
Euromoney Institutional Investor (ERM) 985.00p 3.20%
Kaz Minerals (KAZ) 158.90p 3.18%
Sports Direct International (SPD) 381.60p 2.61%
Vesuvius (VSVS) 345.80p 2.49%
Morgan Advanced Materials (MGAM) 242.00p 2.37%
FTSE 250 - Fallers
Halma (HLMA) 888.50p -3.27%
Greencore Group (GNC) 380.00p -1.68%
ICAP (IAP) 449.20p -1.01%
Ibstock (IBST) 210.00p -0.94%
Dairy Crest Group (DCG) 576.50p -0.86%
Just Eat (JE.) 405.00p -0.83%
TalkTalk Telecom Group (TALK) 254.90p -0.82%
TR Property Inv Trust (TRY) 289.00p -0.69%
IP Group (IPO) 154.80p -0.64% |
| | UK Event Calendar | | Tuesday 17 May
INTERIMS
Enterprise Inns, Greencore Group, Lakehouse, Zytronic
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (09:30)
Building Permits (US) (13:30)
Capacity Utilisation (US) (14:15)
Consumer Price Index (US) (13:30)
Housing Starts (US) (13:30)
Industrial Production (US) (14:15)
FINALS
BTG, DCC, Land Securities Group, Premier Foods
SPECIAL DIVIDEND PAYMENT DATE
Lloyds Banking Group
AGMS
Aldermore Group, Burford Capital , Cenkos Securities, Charles Taylor, EG Solutions, Globaldata, Hill & Smith Holdings, Journey Group, Kakuzi Ltd., Metminco Ltd., Mi-Pay Group, Polymetal International, Regus, Rockhopper Exploration, S&U, Sportech, Standard Life
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30)
FINAL DIVIDEND PAYMENT DATE
Aviva, Lloyds Banking Group, Sagicor Financial Corp., Wood Group (John)
FINAL EX-DIVIDEND DATE
Telefonica SA
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Dax plays catch-up after holidays European stocks were on the front foot on Tuesday as they returned from their long weekend break and played catch up after Monday's gains.
Germany's DAX was up 1.1% and France CAC up 1.03%, with Spain's Ibex and Italy's MIB both up 1.3%.
Traders were looking ahead to the region's trade balance figures, which are expected to edge up to a 10 month high of €23.1bn, as well as hopes for positive inflation date from the UK and US.
Oil prices continued their advance, with Brent crude up 0.62% to $49.28 per barrel and West Texas Intermediate 1.03% higher to $48.22 per barrel around 0900 BST.
UK inflation will be in focus at 0930 BST, with analysts expecting to see a slowdown further away from the Bank of England's 2% target.
Economists expect the consumer price index eased to 0.3% month-on-month growth in April from 0.4% in March. On the year, CPI is estimated to remain at 0.5% increase.
Core inflation, which excludes volatile items such as fuel and food, is expected to slow to 1.4% year-on-year from 1.5%.
"Consumer price inflation is expected to have edged down in April as a consequence of an unwinding of significant price increases in March that were the consequence of the earlier Easter this year (in particular, air fares)," said Howard Archer, chief UK and European economist at IHS Global Insight.
"However, this is expected to have been partly countered by some upward pressure from increased petrol prices and also possibly a firming in food prices."
US inflation is also due at 1330 BST. In contrast to the UK, CPI is expected to pick-up to 0.3% month-on-month growth in April from 0.1% in March. On a year-on-year basis CPI is forecast to rise 1.1% in April following a 0.9% increase a month earlier. The Federal Reserve is targeting 2% inflation and will be taking the data into consideration ahead of its next decision on interest rates in June. |
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| | US Market Report | | US close: Oil price rally lifts stocks higher US stocks closed in positive territory on Monday, boosted by a rally in oil prices.
The Dow Jones Industrial Average jumped 1.0% to 17,710.71 the S&P 500 rose 0.98% to 2,066.66 and the Nasdaq grew 1.22% to 4,775.46.
Oil prices advanced after Goldman Sachs said the market had finished almost two years of oversupply and moved to a deficit following global production disruptions. Supply disruptions around the world, including in Nigeria, have reached as much as 3.75 million barrels per day, soothing the supply glut that has been blamed for pushing prices down as much as 70% between 2014 and early 2016.
"The oil market has gone from nearing storage saturation to being in deficit much earlier than we expected and we are pulling forward our price forecast, with second quarter/second half of 2016 WTI now $45/bbl and $50/bbl," Goldman said.
"We believe the industry still has further to adjust and our updated forecast maintains the same 2016-2017 price level we previously believed was required to finally correct both the barrel and capital imbalances, and eventually take prices to $60/bbl."
West Texas Intermediate crude rose 3.6% to $47.94 per barrel and Brent increased 2.5% to $49.08 per barrel.
In economic data, the Federal Reserve Bank of New York's Empire State manufacturing sector index dropped from a reading of 9.56 to -9.02 in May, missing forecasts of 6.50.
The National Association of Home Builders' housing market index, measuring confidence in the sector, held at 58 in May, above the 50 level that indicates optimism. Analysts had expected a reading of 59.
Elsewhere, Chinese data on retail sales, industrial output and fixed asset investments all came in worse than expected over the weekend.
Looking ahead, investors are awaiting the release of the Federal Reserve's 26-27 April policy meeting minutes on Wednesday. The minutes may reveal clues on the central bank's next move on interest rates ahead of June's policy meeting.
In company news, Apple led technology stocks higher after Warren Buffet's Berkshire Hathaway took a new $1bn stake in the company in the first quarter.
Amazon shares climbed on reports that it is expected roll out new lines of private-label brands in the coming weeks.
Yahoo rose amid reports that Warren Buffet is backing a consortium that is bidding for core internet assets of the company.
Anacor Pharmaceuticals surged after the maker of an eczema treatment agreed to be bought by Pfizer Inc. in a deal valued at $5.2bn.
In currencies, the dollar fell 0.22% against the pound, dropped 0.10% against the euro but increased 0.30% versus the yen.
S&P 500 - Risers
Williams Companies Inc. (WMB) $20.59 +6.41%
Regeneron Pharmaceuticals Inc. (REGN) $391.95 +6.09%
Freeport-McMoRan Inc (FCX) $11.04 +6.05%
Tyco International Plc (TYC) $40.23 +4.85%
FMC Technologies Inc. (FTI) $28.85 +4.64%
Johnson Controls Inc. (JCI) $42.59 +4.36%
Newmont Mining Corp. (NEM) $35.42 +3.96%
Marathon Oil Corp. (MRO) $12.78 +3.90%
McKesson Corp. (MCK) $172.40 +3.90%
Devon Energy Corp. (DVN) $33.78 +3.87%
S&P 500 - Fallers
Range Resources Corp. (RRC) $37.69 -10.28%
Westrock Company (WRK) $39.64 -6.86%
Chesapeake Energy Corp. (CHK) $3.90 -3.94%
Chipotle Mexican Grill Inc. (CMG) $444.50 -3.02%
Time Warner Cable Inc. (TWC) $210.00 -2.56%
Monsanto Co. (MON) $98.27 -1.67%
Discovery Communications Inc. Class A (DISCA) $27.53 -1.61%
Nordstrom Inc. (JWN) $38.54 -1.58%
Macy's Inc. (M) $30.74 -1.54%
Discovery Communications Inc. Class C (DISCK) $26.64 -1.48%
Dow Jones I.A - Risers
Apple Inc. (AAPL) $93.88 +3.71%
E.I. du Pont de Nemours and Co. (DD) $64.34 +2.27%
Wal-Mart Stores Inc. (WMT) $66.02 +1.66%
Home Depot Inc. (HD) $135.34 +1.66%
Cisco Systems Inc. (CSCO) $26.97 +1.66%
Intel Corp. (INTC) $30.39 +1.60%
United Technologies Corp. (UTX) $101.82 +1.55%
Boeing Co. (BA) $134.15 +1.54%
Chevron Corp. (CVX) $102.28 +1.53%
Microsoft Corp. (MSFT) $51.83 +1.47%
Dow Jones I.A - Fallers
Travelers Company Inc. (TRV) $112.24 -0.38%
Nike Inc. (NKE) $57.12 -0.33%
Walt Disney Co. (DIS) $100.38 -0.14%
American Express Co. (AXP) $64.06 -0.09%
Nasdaq 100 - Risers
Regeneron Pharmaceuticals Inc. (REGN) $391.95 +6.09%
Baidu Inc. (BIDU) $168.26 +5.33%
Biomarin Pharmaceutical Inc. (BMRN) $86.47 +4.55%
Incyte Corp. (INCY) $76.47 +4.45%
Liberty Global plc Series A (LBTYA) $38.16 +3.78%
Liberty Global plc Series C (LBTYK) $37.59 +3.73%
Apple Inc. (AAPL) $93.88 +3.71%
Alexion Pharmaceuticals Inc. (ALXN) $144.57 +3.46%
Mylan Inc. (MYL) $40.45 +3.29%
JD.com, Inc. (JD) $23.37 +3.22%
Nasdaq 100 - Fallers
Charter Communications Inc. (CHTR) $203.60 -5.12%
Discovery Communications Inc. Class A (DISCA) $27.53 -1.61%
Discovery Communications Inc. Class C (DISCK) $26.64 -1.48%
Dish Network Corp. (DISH) $45.28 -1.26%
Lam Research Corp. (LRCX) $73.44 -1.21%
KLA-Tencor Corp. (KLAC) $67.91 -1.01%
Facebook Inc. (FB) $118.66 -0.96%
Starbucks Corp. (SBUX) $55.53 -0.52%
Viacom Inc. Class B (VIAB) $39.33 -0.51% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Sports Direct, London property, cyber crime Mike Ashley, the founder of Sports Direct, has for the first time agreed to appear before MPs in Westminster next month to give evidence about the retailer's workplace practices. However, he has done so on the condition that the politicians visit his Shirebrook premises the day before. - Telegraph
London's luxury postcodes have seen house prices fall by as much as 11.8% over the past year, but the property slowdown is a "myth" in much of the rest of the capital. The price of homes in 47 out of 272 postcode areas fell over the last quarter, the majority in the city's most expensive neighbourhoods, according to data from the estate agency Stirling Ackroyd published on Tuesday. - The Guardian
Total pledged to continue investing in the North Sea yesterday as it called for greater collaboration to survive the oil industry downturn. Patrick Pouyanné, chief executive of the French company, said that there was an urgent need to bear down on costs. - The Times
A flurry of recent flotation announcements has raised hopes that the dormant initial public offerings market is springing back to life. Maisons du Monde on Monday revealed it is set to carry out what is not only France's first initial public offering of 2016 but one of the biggest expected there this year, with the furniture and design company setting a price range that would give it enterprise value of more than €1bn. - Financial Times
John Hargreaves, private founder of the Matalan retail chain, is the frontman behind a mystery rescue bid for BHS. Mr Hargreaves, who left school aged 14 to set up a market stall in Liverpool, is understood to working with a rival retailer ahead of a bid deadline on Tuesday. - Telegraph
The UK financial sector is failing to take cyber crime seriously enough, a report will say on Tuesday, recommending that companies share more information while calling for tax breaks to boost investment in cyber defences. The financial services industry is "the perfect target" for cyber attack, warns the report from lobby group TheCityUK, presenting the results of a six-month review of cyber security in the sector. - Financial Times
The global community is badly prepared for a rapid increase in climate change-related natural disasters that by 2050 will put 1.3 billion people at risk, according to the World Bank. Urging better planning of cities before it was too late, a report published on Monday from a Bank-run body that focuses on disaster mitigation, said assets worth $158tn - double the total annual output of the global economy - would be in jeopardy by 2050 without preventative action. - The Guardian
The chairman of AIM-listed Caledonia Mining was left red-faced and around £17,000 out of pocket yesterday after his broker sold his entire shareholding in the firm without his knowledge. American Leigh Wilson, 70, who first joined the Toronto and London-listed firm in 2008, was forced to announce that his broker had sold 75,200 shares - his entire stake - for around £33,000 between February 26 and March 2. - Daily Mail
Approximately 11,000 online recipes are to be dropped following a review of the BBC's online output that promises to save £15m a year by cutting back on magazine-style content as well as local news. The recipes are being "archived or mothballed", a source said, and will "fall off the face of the internet" after the food site is closed, with no live links. - The Guardian
Britain's largest water company has run up a £250m black hole in its pension pot while its foreign owners have pocketed almost £2bn in dividends. When it was sold to a consortium of investors, led by Australia's Macquarie, in 2005 Thames Water Utilities had a £38m pension deficit but in the last decade this has ballooned by more than 655 per cent to £249m - an increase of £211m. - Daily Mail
One in three people have experienced poverty in recent years, according to figures that underline the precarious nature of work in Britain. The proportion of people experiencing long-term, or persistent, poverty had declined to one of the lowest rates in the EU, with the Office for National Statistics saying in 2014 6.5% of the UK population was in persistent poverty, amounting to approximately 3.9 million people. - The Guardian |
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