| | | | | | | 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. |
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| 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
|
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| | 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. |
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| | US Market Report | | The markets were closed today, because of Memorial Day |
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| | 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 | | |
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