| | | | | | | 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 fall as OECD warns on global economy UK stocks declined on Wednesday after Chinese manufacturing failed to impress and the Organisation for Economic Co-operation and Development (OECD) issued a warning on the global economy.
The official China manufacturing purchasing managers' index came in at 50.1 in May, unchanged from the previous month but slightly better than the reading of 50.0 economists were expecting. A reading above 50 signals an expansion in sector activity while a level below that indicates a contraction.
The non-manufacturing PMI fell to 53.1 in May from 53.5 a month earlier.
Separately, Caixin's China manufacturing PMI dropped to 49.2 in May from 49.4 in April, as expected, marking the 15th consecutive month of contraction. It was the lowest figure since February.
"The manufacturing number for China was awful and the economic picture will become even more ugly if the Chinese Caxin Non-Manufacturing services number (which is due tomorrow) also confirms that the economy is on the verge of a major slowdown," said ThinkForex analyst Naeem Aslam.
Weighing further on sentiment, Secretary-General of the OECD Angel Gurra said the global economy is struggling due to weak trade and problems in emerging markets.
He told Bloomberg TV that the world economy faces a "rather mediocre, rather dismal outlook".
The world economy is expected to grow by 3% this year - in line with 2015's dismal performance, Gurra added.
On home soil, Nationwide data showed UK house price growth stagnated in May. Prices rose 0.2% on the month, in line with April's increase and worse than forecasts for a 0.3% gain.
Year-on-year house prices increased 4.7% in May, slowing from April's 4.9% rise and missing estimates for a 4.8% climb.
Still to come, UK net consumer credit and mortgage approvals data at 0930 BST, Markit's UK manufacturing PMI at 0930 BST, Markit's US manufacturing PMI at 1445 BST, ISM's manufacturing index at 1500 BST, US construction spending figures at 1500 BST and the Federal Reserve's Beige Book at 1900 BST.
Meanwhile, oil prices fell on the prospect of rising production from major Middle East exporters ahead of the Organization of the Petroleum Exporting Countries meeting on Thursday.
At 0906 BST Brent crude dropped 0.97% to $49.41 per barrel and West Texas Intermediate dipped 0.94% to $48.64 per barrel.
In company news, shares in Halfords declined as the company revealed full year numbers were largely flat but ahead of market expectations.
Telford Homes edged higher as the residential property developer posted a 28% jump in pre-tax profit for the year to the end of March as revenue surged amid strong demand.
Wolseley plunged as it reported its third quarter results and said recent revenue growth trends "have been weaker and we have continued to manage costs and productivity very carefully" amid a challenging market.
RSA Insurance Group was in the red as it completed the sale of its operations in Mexico to Suramericana SA, the insurance subsidiary of Grupo de Inversiones Suramericana.
Meggitt's shares climbed as the aerospace engineer said it had completed a private placement of $600m seven and 10 year senior notes with 23 US-based investors. |
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| Market Movers
FTSE 100 (UKX) 6,210.97 -0.32%
FTSE 250 (MCX) 17,094.51 -0.53%
techMARK (TASX) 3,122.20 0.19%
FTSE 100 - Risers
Mediclinic International (MDC) 886.00p 2.25%
Shire Plc (SHP) 4,335.00p 1.76%
Unilever (ULVR) 3,172.00p 0.83%
Randgold Resources Ltd. (RRS) 5,840.00p 0.69%
Relx plc (REL) 1,258.00p 0.64%
Tesco (TSCO) 166.15p 0.64%
Fresnillo (FRES) 1,015.00p 0.59%
GlaxoSmithKline (GSK) 1,453.50p 0.59%
Reckitt Benckiser Group (RB.) 6,899.00p 0.35%
British American Tobacco (BATS) 4,212.50p 0.35%
FTSE 100 - Fallers
Wolseley (WOS) 3,814.00p -5.85%
Anglo American (AAL) 582.90p -2.87%
Persimmon (PSN) 2,049.00p -2.52%
Antofagasta (ANTO) 418.30p -2.49%
Royal Mail (RMG) 529.50p -2.13%
Barratt Developments (BDEV) 579.50p -2.11%
Royal Bank of Scotland Group (RBS) 241.30p -2.11%
Travis Perkins (TPK) 1,884.00p -2.03%
Berkeley Group Holdings (The) (BKG) 3,209.00p -2.02%
Taylor Wimpey (TW.) 201.40p -1.95%
FTSE 250 - Risers
Centamin (DI) (CEY) 100.00p 3.79%
Evraz (EVR) 113.10p 1.89%
Cobham (COB) 166.00p 1.84%
Spire Healthcare Group (SPI) 354.80p 1.20%
AO World (AO.) 172.00p 1.18%
Euromoney Institutional Investor (ERM) 920.50p 1.15%
Serco Group (SRP) 108.00p 1.12%
Acacia Mining (ACA) 308.50p 0.98%
Auto Trader Group (AUTO) 396.20p 0.81%
Ultra Electronics Holdings (ULE) 1,747.00p 0.81%
FTSE 250 - Fallers
Halfords Group (HFD) 417.80p -4.74%
Aldermore Group (ALD) 208.00p -3.75%
Millennium & Copthorne Hotels (MLC) 423.60p -3.44%
Ibstock (IBST) 201.60p -2.75%
Jimmy Choo (CHOO) 116.80p -2.67%
JRP Group (JRP) 139.60p -2.38%
Card Factory (CARD) 362.30p -2.37%
Henderson Group (HGG) 262.10p -2.24%
Bellway (BWY) 2,672.00p -2.23% |
| | UK Event Calendar | | Wednesday 01 June
INTERIMS
Fusionex International
QUARTERLY PAYMENT DATE
JPMorgan Claverhouse Inv Trust, Unilever
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
MBA Mortgage Applications (US) (12:00)
FINALS
Acal, LondonMetric Property, Telford Homes
ANNUAL REPORT
Halfords Group
IMSS
Wolseley
AGMS
Barr (A.G.), EnQuest, Flowtech Fluidpower, Frontier Resources International, Infinity Energy S.A , Mears Group, Peel Hotels, Seplat Petroleum Development Company (DI)
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
Nationwide House Price Index (07:00)
FINAL DIVIDEND PAYMENT DATE
BAE Systems, London Stock Exchange Group, Mortgage Advice Bureau (Holdings) , Peel Hotels, Polypipe Group , Robinson
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slip as investors digest China data European stocks slipped in early trade as investors mulled over some mixed Chinese data.
At 0845 BST, the benchmark Stoxx Europe 600 index was down 0.7%, Germany's DAX was 0.3% lower and France's CAC 40 was off 0.4%.
At the same time, oil prices retreated before the release of weekly US crude inventory data later in the day and as investors became cautious ahead of Thursday's OPEC meeting. West Texas Intermediate was down 0.9% to $48.66 a barrel while Brent crude was 0.9% weaker at $49.42.
"June brings some of the most critical market events of the year. The Federal Reserve decision on 15th June is potentially a key risk for global markets, followed by the EU referendum vote on the 23rd, which has huge ramifications for the UK and Europe," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"With uncertainty about both the Fed and EU referendum increasing and oil prices falling for a fourth day, investors have become more cautious, with European equity markets weaker as investors struggle to find reasons to invest."
China's official manufacturing purchasing managers' index printed at 50.1 in May, unchanged from the previous month.
Meanwhile, the Caixin manufacturing PMI remained below the 50.0 that separates contraction from expansion for the 15th straight month, dropping to 49.2 in May from 49.4 in April.
China's official non-manufacturing PMI fell to 53.1 in May from 53.5 in April, according to the National Bureau of Statistics said.
In corporate news, Elekta shares slid after the Swedish care company reported weaker-than-expected first-quarter earnings.
RSA Insurance edged lower after announcing the completion of the sale of its operations in Mexico.
FTSE 100 building materials supplier Wolseley was under the cosh after it said in a third quarter trading update that recent revenue growth trends have been weaker.
Still to come on the data front, Eurozone manufacturing PMI is at 0900 BST. In the US, ISM manufacturing and construction spending figures are at 1500 BST. |
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| | US Market Report | | US close: Stocks finish mostly lower after mixed economic data US stocks finished mostly lower on Tuesday after mixed economic data and a drop in oil prices.
The Dow Jones Industrial Average fell 0.48% and the S&P 500 0.10% but the Nasdaq rose 0.29%.
Oil prices were in the red 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 crude dipped 1.3% to $48.94 per barrel and Brent slid 0.18% to $49.67 per barrel at 2141 BST.
In economic data, the Commerce Department revealed US consumer spending rose 1.0% in April from a month earlier, the biggest monthly increase since August 2009. Analysts had pencilled in a 0.7% gain.
Personal income increased 0.4% in April, in line with expectations.
On the downside, data from the Conference Board showed US consumer confidence unexpectedly deteriorated in May. The Conference Board Consumer Confidence Index fell to 92.6 from 94.7 in April, missing expectations for an increase to 96.0.
The Chicago manufacturing purchasing managers' index unexpectedly slipped into contraction in May to reading of 49.3, down from 50.4 the previous month. Analysts had forecast 50.5. A level below 50 signals contraction while a reading above that suggests an expansion.
Meanwhile, US home price appreciation remained strong in March.The S&P/Case-Shiller 20-City Composite Home Price Index rose by 5.4% in March from the same month last year, in line with expectations and the previous month's gains.
On the corporate front, shares in Medtronic dropped despite reporting better-than-expected fourth quarter earnings and guidance for the full year.
Great Plains Energy slumped as it agreed to buy Westar Energy for $8.6bn, marking a major consolidation in the utilities sector. Westar shares rose.
StemCells edged lower after announcing plans to wind down its operations.
In currencies, the dollar jumped 1.07% against the pound as two Guardian/ICM polls showed the campaign to leave the European Union in the lead ahead of Britain's referendum on 23 June.
The dollar also climbed 0.03% against the euro but fell 0.34% versus the yen.
S&P 500 - Risers
Southwestern Energy Co. (SWN) $13.67 +4.67%
Seagate Technology Plc (STX) $22.56 +4.16%
Western Digital Corp. (WDC) $46.54 +3.45%
Micron Technology Inc. (MU) $12.72 +3.33%
Alliance Data Systems Corp. (ADS) $222.19 +3.32%
Chesapeake Energy Corp. (CHK) $4.29 +3.13%
Williams Companies Inc. (WMB) $22.15 +3.12%
Vertex Pharmaceuticals Inc. (VRTX) $93.15 +3.06%
Ameren Corp. (AEE) $49.55 +2.99%
Range Resources Corp. (RRC) $42.59 +2.97%
S&P 500 - Fallers
Coca-Cola Enterprises Inc. (CCE) $38.81 -24.71%
Constellation Brands Inc. Class A (STZ) $153.15 -2.97%
E.I. du Pont de Nemours and Co. (DD) $65.41 -2.62%
Boeing Co. (BA) $126.15 -2.38%
Tyson Foods Inc. (TSN) $63.78 -1.98%
Apache Corp. (APA) $57.14 -1.97%
Berkshire Hathaway Inc. Class B (BRK.B) $140.54 -1.96%
Autodesk Inc. (ADSK) $58.27 -1.80%
Mosaic Company (MOS) $25.23 -1.79%
Carnival Corp. (CCL) $47.74 -1.77%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $53.00 +1.30%
Caterpillar Inc. (CAT) $72.51 +0.76%
International Business Machines Corp. (IBM) $153.74 +0.59%
Verizon Communications Inc. (VZ) $50.90 +0.55%
Cisco Systems Inc. (CSCO) $29.05 +0.45%
American Express Co. (AXP) $65.76 +0.37%
General Electric Co. (GE) $30.23 +0.37%
Pfizer Inc. (PFE) $34.70 +0.26%
Intel Corp. (INTC) $31.59 +0.06%
Wal-Mart Stores Inc. (WMT) $70.78 +0.04%
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $65.41 -2.62%
Boeing Co. (BA) $126.15 -2.38%
Nike Inc. (NKE) $55.22 -1.73%
Home Depot Inc. (HD) $132.12 -1.36%
Exxon Mobil Corp. (XOM) $89.02 -1.10%
Walt Disney Co. (DIS) $99.22 -1.07%
Chevron Corp. (CVX) $101.00 -1.00%
McDonald's Corp. (MCD) $122.06 -0.97%
Visa Inc. (V) $78.94 -0.90%
Apple Inc. (AAPL) $99.86 -0.49%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $22.56 +4.16%
Western Digital Corp. (WDC) $46.54 +3.45%
Micron Technology Inc. (MU) $12.72 +3.33%
Vertex Pharmaceuticals Inc. (VRTX) $93.15 +3.06%
Endo International Plc (ENDP) $15.81 +2.80%
Nxp Semiconductors Nv (NXPI) $94.49 +2.57%
Biogen Inc (BIIB) $289.73 +2.45%
Dish Network Corp. (DISH) $49.90 +1.94%
Dollar Tree Inc (DLTR) $90.54 +1.80%
Nvidia Corp. (NVDA) $46.72 +1.79%
Nasdaq 100 - Fallers
Baidu Inc. (BIDU) $178.54 -3.50%
Vodafone Group Plc ADS (VOD) $33.99 -2.02%
Autodesk Inc. (ADSK) $58.27 -1.80%
Liberty Media Corporation - Class A (LMCA) $19.48 -1.77%
Cognizant Technology Solutions Corp. (CTSH) $61.44 -1.63%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $46.41 -1.44%
Liberty Media Corporation - Series C (LMCK) $18.95 -1.30%
Intuit Inc. (INTU) $106.66 -1.14%
Kraft Heinz Co. (KHC) $83.19 -1.08% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: Tata Steel, Brexit, BHS India's Tata Steel has completed the sale of part of its European steel business, even as it remains silent on progress towards finding a buyer for the bulk of the UK operation. The European long products business - mostly consisting of UK operations including a steelworks in Scunthorpe and two mills on Teesside, as well as a mill in France - has been sold to Greybull Capital, an investment company that specialises in turning round struggling companies. - Financial Times
Washington and Brussels are scrambling to rebuild momentum for a landmark trade accord, amid signs that it is faltering under an increasingly bitter onslaught from politicians on both sides of the Atlantic. Jean-Claude Juncker, president of the European Commission, travelled to Paris on Wednesday to sell potentially the world's biggest trade deal to one of the toughest political constituencies in Europe - a convention of France's mayors. - Financial Times
Two-thirds of Britons believe that they would not be worse off in the event of a Brexit vote, in a blow to the assembled forces of "Project Fear". The findings came despite warnings issued by the Treasury, the Bank of England, the International Monetary Fund, and the OECD, all of which have cautioned on the economic repercussions of a Brexit vote to some degree, and suggest that most voters have been left unconvinced. - Telegraph
There is a good reason why federal plebiscites are outlawed under the German constitution; it is because they are thought to have been a major contributor to the political and economic chaos of the country's inter-war years. Repeated referendums were very much part of the decay in institutional authority that defined the period, including two crucial ones in the early 1930s, the first of which sanctioned Germany's withdrawal from the League of Nations, and the second combining the positions of President and Chancellor, allowing Hitler to assume the absolute power of Fhrer. - Telegraph
A decision to leave the EU would be a "disaster" for British workers who would be 38 a week worse off outside the EU by 2030, according to the TUC. The trade union federation, which is campaigning to persuade voters to remain part of the EU, said Brexit would hit wages, jobs and workers' rights and warned of a "devastating" blow to Britain's manufacturing sector, where highly skilled jobs would be lost. - Guardian
Dominic Chappell, the owner of BHS at the time it fell into administration, has blamed former owner Sir Philip Green for the retail chain's demise. Chappell said Green had failed to deliver on a pledge to ensure the backing of credit insurers and had not left sufficient cash in the business. - Guardian
The former boss of Lloyds Banking Group has been accused of keeping silent on rate-rigging at the state-backed bank in a court claim that raises fresh questions about the City watchdog's investigation into market abuse. Eric Daniels, chief executive of Lloyds until 2011, and his Mike Fairey, his deputy at the time, took part in a meeting in April 2008 at which manipulation of the interbank Libor lending rate was allegedly discussed, according a lawsuit brought against the bank by a care home operator. - The Times | | |
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