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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 rise as oil prices rally London stocks rose on Monday as oil prices rallied after data showed China's crude imports rose last month.
China's crude imports jumped 7.6% in April compared to a year ago, marking the third consecutive month that crude imports exceeded 40 million tonnes.
At 0851 BST Brent crude increased 0.76% to $45.72 per barrel and West Texas Intermediate climbed 1.2% to $45.22 per barrel.
The report offset weak China trade data over the weekend, which revealed a drop in exports and imports.
Exports fell 1.8% in April compared with the same month last year while imports declined 10.9%, according to official data.
Elsewhere, German factory orders rose 1.7% year-on-year in March, beating estimates for a 0.1% and following a 0.7% increase a month earlier.
In the UK, house prices fell 0.8% in April compared to a month ago, more than the 0.3% drop expected by analysts and after a 2.6% jump in March, Halifax said. The decline follows the introduction of extra stamp duty for second home owners and buy-to-let investors on 1 April and comes amid uncertainty leading up to the European Union referendum.
In company news, mining stocks were under pressure following the disappointing Chinese trade data. Anglo American, Rio Tinto, Glencore and Antofagasta were among the biggest fallers.
Greggs gained after reporting a 5.7% rise in like-for-like sales in the first 18 weeks of 2016, despite the tepid conditions on British high streets.
Security firm G4S advanced after saying it has made a positive start to the year despite a challenging backdrop, with no new impairments. |
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| Market Movers
FTSE 100 (UKX) 6,146.20 0.33%
FTSE 250 (MCX) 16,729.22 0.48%
techMARK (TASX) 3,058.81 0.88%
FTSE 100 - Risers
Inmarsat (ISAT) 834.50p 2.71%
easyJet (EZJ) 1,452.00p 2.54%
Dixons Carphone (DC.) 418.70p 1.77%
TUI AG Reg Shs (DI) (TUI) 1,017.00p 1.70%
AstraZeneca (AZN) 3,860.50p 1.63%
Hargreaves Lansdown (HL.) 1,265.00p 1.52%
Paddy Power Betfair (PPB) 9,020.00p 1.52%
Smith & Nephew (SN.) 1,153.00p 1.50%
Sage Group (SGE) 589.50p 1.46%
ARM Holdings (ARM) 944.50p 1.45%
FTSE 100 - Fallers
Anglo American (AAL) 615.10p -5.28%
Glencore (GLEN) 139.25p -4.36%
Rio Tinto (RIO) 2,040.50p -4.36%
Antofagasta (ANTO) 424.00p -3.96%
Fresnillo (FRES) 1,069.00p -3.08%
BHP Billiton (BLT) 822.50p -2.63%
Randgold Resources Ltd. (RRS) 6,065.00p -1.62%
Centrica (CNA) 208.50p -0.67%
InterContinental Hotels Group (IHG) 2,680.00p -0.52%
Rolls-Royce Holdings (RR.) 643.50p -0.46%
FTSE 250 - Risers
G4S (GFS) 193.70p 5.10%
Greggs (GRG) 1,107.00p 3.65%
Beazley (BEZ) 348.60p 3.08%
Tullow Oil (TLW) 251.20p 2.45%
Spire Healthcare Group (SPI) 331.20p 2.25%
Greencore Group (GNC) 368.00p 2.25%
Rotork (ROR) 190.40p 2.15%
CLS Holdings (CLI) 1,540.00p 2.05%
Paysafe Group (PAYS) 380.10p 1.77%
Rightmove (RMV) 4,041.00p 1.69%
FTSE 250 - Fallers
Kaz Minerals (KAZ) 157.30p -6.20%
Interserve (IRV) 311.80p -5.31%
Evraz (EVR) 124.60p -4.67%
Vedanta Resources (VED) 371.10p -4.16%
Allied Minds (ALM) 339.80p -4.07%
Centamin (DI) (CEY) 118.00p -2.88%
Acacia Mining (ACA) 320.00p -2.62%
Ibstock (IBST) 184.60p -2.48%
Ophir Energy (OPHR) 66.70p -2.20% |
| | UK Event Calendar | | Monday 09 May
INTERIMS
ITE Group, Premier Veterinary Group
QUARTERLY EX-DIVIDEND DATE
IBM Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (07:00)
FINALS
Beximco Pharmaceuticals Ltd. GDR (Reg S)
AGMS
888 Holdings, Altin AG (Reg S), Fairpoint Group, Integrated Diagnostics Holdings, Rightster Group, Woodford Patient Capital Trust
TRADING ANNOUNCEMENTS
Dignity, Greggs
UK ECONOMIC ANNOUNCEMENTS
Halifax House Price Index (08:30)
FINAL DIVIDEND PAYMENT DATE
BlackRock Latin American Inv Trust, British Smaller Companies VCT 2, CareTech Holding, Fresnillo
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher as oil advances European stocks edged higher in early trade following losses last week, as oil prices pushed higher.
At 0855 BST, the benchmark Stoxx Europe 600 index was up 0.2%, Germany's DAX was 0.3% higher and France's CAC 40 was 0.1% firmer.
At the same time, oil prices were in the black as wildfires continued to rage in the Canadian province of Alberta. Strong Chinese crude import data also helped to underpin the tone for oil after data showed imports rose 7.6% in April on the year.
Investors were also mulling news at the weekend that Saudi Arabia's veteran oil minister Ali al-Naimi will be replaced by Saudi Aramco chief executive Khalid al-Falih.
West Texas Intermediate was up 1.8% to $45.45 a barrel and Brent crude was 1.2% higher at $45.90.
"Despite relatively poor Chinese trade data, European equities have started the week higher amid expectation that Friday's weak US employment numbers will force the Federal Reserve to delay any prospective rate rises," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"This reaction is a return to the 'bad news is good news' perspective that dominated market sentiment previously, but the key question is whether lower rates for longer is a catalyst for driving equities higher, or simply an excuse for markets to try and justify current levels. Without sustained global growth and profitability, the danger is that markets will continue to drift lower, as seen over the past two weeks."
Data out of China over the weekend showed imports and exports fell more than expected in April. Exports dropped 1.8% on the year versus expectations for a flat reading, while imports tumbled 10.9% from the previous year, which was a much steeper fall than the 4% expected.
Corporate news was thin on the ground.
Chemicals distributor Brenntag slumped after posting a 27% decline in first-quarter net profit that missed analysts' estimates.
In London, security firm G4S rallied after saying it has made a positive start to the year despite a challenging backdrop, with no new impairments. Back in March, shares in the company tumbled after it posted a fall in full-year profit and revenue on the back of restructuring costs and write-downs on onerous contracts relating to asylum seekers.
Also on Monday, investors will eye a Eurogroup meeting of finance ministers later in the day, where Greece's progress on reforms will be a top of discussion.
"The thorniest issue appears to be the contingency measures worth 2% of GDP requested by the IMF," said UniCredit. |
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| | US Market Report | | US close: S&P 500 ends lower for second week in a row Wall Street edged higher on Friday as the non-farm payrolls report came in worse than expected, leading several top brokers to push back their calls for the next Fed rate hike to September.
The Dow Jones Industrial Average tacked on 0.45% or 79,92 points to 17,740.63, while the S&P 500 nudged higher by 0.32% or 6.51 points to 2,057.14 and the Nasdaq added another 19.06 points or 0.40% to 4,7360.16.
Nonetheless, the S&P 500 was dragged lower for a second consecutive week.
US non-farm payrolls increased 160,000 last month, compared to forecasts of 200,000 and estimates for the previos two months were revised lower by a combined 19,000, the Labor Department revealed.
America's unemployment rate was unchanged at 5.0%, as anticipated by analysts.
Average hourly earnings rose 2.5% year-on-year in April, beating forecasts for a 2.4% increase and following a 2.3% gain in March. On the month, however, hourly earnings growth remained at 0.3%, in line with estimates.
On the corporate front, shares in wearable camera maker GoPro slid after the company announced late on Thursday that it has fallen further into losses and downgraded its sales guidance for the year.
Miners shine bright
On the upside, Herbalife advanced after posting better-than-expected first-quarter results on Thursday.
Cigna Corp declined despite raising its outlook for the year and reporting first quarter earnings that beat forecasts.
Endo Intl. cratered after the drugmaker slashed its outlook for full-year revenues.
Madison Square Garden edged lower as it widened its loss in the first quarter to $60m from $11.5m a year earlier.
By industrial groups, the best performers were Non-ferrous metals (4.43%), Toys (3.78%) and Gold miners (3.24%).
Fed might still rates twice despite April jobs reports, Fed's Dudley says
Market commentary following the jobs was somewhat mixed but the figures were nevertheless enough to prompt various top analysts to erase a June rate hike from their spreadsheets, moving it back to September.
"On net, the softening in April payroll growth, led by the service-providing sector, will likely raise concerns over the sustainability of US growth.
"We now only expect one rate hike in 2016, in September, down from two hikes previously, as we believe it will take longer for policymakers to accumulate sufficient evidence that economic and labor market activity is rebounding after a soft start to the year," Michael Gapen, Rob Martin and Jesse Hurwitz at Barclays said in a research report sent to clients.
"If the economy improves along the lines of our baseline forecast, there is a risk of a second rate hike this year in December" they added.
Bank of America-Merrill Lynch and Goldman Sachs also now see the next rate hike arriving in September.
In the afternoon the president of the Federal Reserve bank of New York, William Dudley, would tell the New York Times the US central bank might still raise rates twice in 2016, despite the April jobs numbers.
The yield on the benchmark 10-year Treasury note rose three basis points to 1.78% as expectations for Fed tightening were pushed back, alongside a two basis point gain on two-year debt yields to 0.73%.
In currencies, the spot US dollar index edged higher by 0.12% to 93.89.
Commodities were broadly higher, despite that small gain in the greenback.
West Texas Intermediate crude oil futures for delivery in June 2016 were up 0.77% to $44.66 per barrel by the close of trading on the NYMEX.
S&P 500 - Risers
Activision Blizzard Inc. (ATVI) $37.87 +8.48%
Teradata Corp. (TDC) $28.14 +7.12%
PerkinElmer Inc. (PKI) $54.23 +6.84%
Transocean Ltd. (RIG) $10.72 +6.45%
Cognizant Technology Solutions Corp. (CTSH) $60.55 +5.14%
Diamond Offshore Drilling Inc. (DO) $24.80 +4.77%
NRG Energy Inc. (NRG) $15.52 +4.44%
Freeport-McMoRan Inc (FCX) $11.79 +4.43%
Jacobs Engineering Group Inc. (JEC) $48.65 +4.42%
News Corp Class A (NWSA) $12.70 +4.35%
S&P 500 - Fallers
Endo International Plc (ENDP) $16.17 -39.19%
Chesapeake Energy Corp. (CHK) $4.59 -19.61%
Mallinckrodt Plc Ordinary Shares (MNK) $56.40 -7.27%
Fluor Corp. (FLR) $51.79 -5.29%
Motorola Solutions Inc (MSI) $70.54 -5.00%
Perrigo Company plc (PRGO) $92.39 -4.82%
Willis Towers Watson Public Limited Company (WLTW) $121.56 -4.78%
Seagate Technology Plc (STX) $19.07 -4.70%
Williams Companies Inc. (WMB) $19.70 -4.23%
Mylan Inc. (MYL) $39.65 -4.23%
Dow Jones I.A - Risers
Wal-Mart Stores Inc. (WMT) $68.25 +1.55%
Cisco Systems Inc. (CSCO) $26.53 +1.22%
Procter & Gamble Co. (PG) $82.13 +1.02%
McDonald's Corp. (MCD) $130.58 +1.01%
E.I. du Pont de Nemours and Co. (DD) $64.26 +0.93%
American Express Co. (AXP) $64.51 +0.92%
Microsoft Corp. (MSFT) $50.39 +0.90%
Boeing Co. (BA) $133.26 +0.89%
United Technologies Corp. (UTX) $101.12 +0.83%
Caterpillar Inc. (CAT) $73.36 +0.78%
Dow Jones I.A - Fallers
Merck & Co. Inc. (MRK) $53.60 -0.91%
Apple Inc. (AAPL) $92.72 -0.56%
Goldman Sachs Group Inc. (GS) $158.85 -0.43%
Travelers Company Inc. (TRV) $110.45 -0.27%
Unitedhealth Group Inc. (UNH) $132.04 -0.20%
Johnson & Johnson (JNJ) $112.74 -0.12%
Nasdaq 100 - Risers
Activision Blizzard Inc. (ATVI) $37.87 +8.48%
Dish Network Corp. (DISH) $46.70 +5.92%
Cognizant Technology Solutions Corp. (CTSH) $60.55 +5.14%
Fiserv Inc. (FISV) $102.64 +3.42%
Electronic Arts Inc. (EA) $63.94 +2.73%
Amazon.Com Inc. (AMZN) $673.95 +2.25%
Discovery Communications Inc. Class A (DISCA) $28.28 +1.95%
Vertex Pharmaceuticals Inc. (VRTX) $85.54 +1.83%
Discovery Communications Inc. Class C (DISCK) $27.67 +1.65%
Netflix Inc. (NFLX) $90.84 +1.64%
Nasdaq 100 - Fallers
Endo International Plc (ENDP) $16.17 -39.19%
Seagate Technology Plc (STX) $19.07 -4.70%
Mylan Inc. (MYL) $39.65 -4.23%
Cerner Corp. (CERN) $53.63 -3.30%
Walgreens Boots Alliance, Inc. (WBA) $79.43 -2.49%
Western Digital Corp. (WDC) $37.27 -2.26%
Regeneron Pharmaceuticals Inc. (REGN) $369.95 -2.06%
Celgene Corp. (CELG) $100.25 -1.44%
Gilead Sciences Inc. (GILD) $84.68 -1.37% |
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| | Newspaper Round Up | | Monday newspaper round-up: Oil prices, UK auto, Royal Mail, Saudi Oil prices climbed more than 2% on Monday morning in Asia as traders weighed the impact of wildfires continuing to rage in Canada's top oil-producing province and a change at the top in Saudi Arabia's energy ministry. Brent crude, the international benchmark, rose as much as 2.5 per cent to $46.68 a barrel while West Texas Intermediate, the US marker, gained as much as 2.9 per cent to $45.94. - Financial Times
Discoveries of new oil reserves have dropped to their lowest level for more than 60 years, pointing to potential supply shortages in the next decade. Oil explorers found 2.8bn barrels of crude and related liquids last year, according to IHS, a consultancy. This is the lowest annual volume recorded since 1954, reflecting a slowdown in exploration activity as hard-pressed oil companies seek to conserve cash. - Financial Times
Hopes of an economic resurgence in China have been dealt a blow by weak trade data that raise fresh concerns about the state of the global economy. Official figures released yesterday showed that both imports and exports in China fell by more than expected, painting a picture of weak demand at home and abroad. - The Times
One of the British motor industry's most senior executives has warned that volume carmaking will disappear from the country if the steelmaking crisis is not resolved. Nick Reilly, the former president of General Motors Europe and the man who saved Vauxhall's Ellesmere Port and Luton plants from closure during the financial crisis, says that the effect across industry of Tata Steel's decision to quit Britain is being badly underestimated by ministers and officials. - The Times
The prospect of train companies fighting a price war on the main line between London and Edinburgh has drawn closer after a report commissioned by the rail regulator said there was "irrefutable" proof that competition would bring significant economic benefits. Within days of deciding whether two companies will be allowed on the east coast main line to take on existing services operated by Virgin Trains [and Stagecoach], the Office of Rail and Road has been told that passengers would benefit from lower fares. - The Times
Saudi Arabia's new energy minister has signalled that his appointment will make no difference to the kingdom's aggressive policy of trying to drive rival producers out of business with cheap oil. Khalid al-Falih, chairman of Saudi Aramco, the state oil giant, was unveiled as Ali al-Naimi's successor at the weekend, making him the oil world's key power broker. - The Times
Saudi Arabia is planning a three-way foreign listing in London, Hong Kong, and New York for the record-smashing privatisation of its $2.5 trillion oil giant Aramco, anchored on a triad of interlocking ties with three foreign energy companies. The Saudi authorities hope to entice ExxonMobil, China's Sinopec, and potentially BP, into taking strategic stakes, offering them long-term access to upstream operations in return for cutting-edge technology or refinery deals, according to sources close to Saudi thinking. - Daily Telegraph
A German parcels expert is being lined up as the next chief executive of Royal Mail. An unpublicised internal restructuring of the group at the behest of Peter Long, the new chairman, has handed Rico Back, hitherto the head of the group's European business, unprecedented authority across all its parcel operations: UK domestic, continental and worldwide delivery. - The TImes
About £10m will be paid in compensation to more than 250 building workers who were "blacklisted" by some of Britain's biggest construction firms under a settlement to be announced on Monday. The total payout from the out-of-court deal secured from Sir Robert McAlpine, Balfour Beatty and six other building companies by the Unite union on behalf of almost 800 unfairly targeted workers could be as high as £75m. - The Guardian
Lloyds Banking Group could be the next major company to face a shareholder rebellion after governance groups said the boss's pay could be deemed "excessive." Chief executive Antonio Horta-Osorio received £8.8m in pay, bonuses and long-term incentives in 2015, down from £11.5m in 2014, but above his peers at HSBC and Royal Bank of Scotland. - Daily Telegraph
Leaving the European Union would hit house prices significantly and make mortgages more expensive, George Osborne has claimed, as the referendum campaign steps up a gear. The chancellor is due to publish Treasury research about the short-term costs of Brexit in the coming days, and has revealed that one key finding will be that property prices could fall if voters decide to leave the EU on 23 June. - The Guardian
More than $12tn (£8tn) has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit. A detailed 18-month research project has uncovered a sharp increase in the capital flowing offshore from developing countries, in particular Russia and China. - The Guardian
EasyJet is expected to take a hit from this year's spate of terrorist attacks after a fall in bookings led to "very tough" conditions for airlines. Analyst Wyn Ellis, of Numis, believes the bombings in Brussels, as well as renewed violence in Egypt, will have cost easyJet around £45m in the first half of its financial year. - Daily Telegraph
Facebook has won a Chinese trademark case against a company that registered the brand name "face book", in a sign that Beijing attitudes are softening towards the world's largest social networking site, which is blocked to China's 700m internet users. Mark Zuckerberg, Facebook's founder, has been at the forefront of a charm offensive apparently aimed at prying open the Chinese market. - Financial Times
Britain's mortgage lenders are tearing up longstanding restrictions on older borrowers as Nationwide became the second lender in a week to extend the age limit by which a home loan must be repaid. Nationwide is boosting the maximum age of "mortgage maturity" from 75 to 85 - the highest limit of any mainstream lender - as part of moves to "bring more flexibility and choice to older borrowers". - Financial Times
Domestic flights in Britain will all but disappear over the next decade because of falling demand, a senior airline boss has warned. Laurie Berryman, UK vice-president of Emirates, said that existing routes would continue to be squeezed because of a lack of space at Heathrow, combined with the rise of long-haul flights directly from regional airports. - The Times |
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