| | | | | | | 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 ahead of OPEC and ECB meetings UK stocks rebounded on Thursday as oil prices jumped ahead of an OPEC meeting and as investors awaited the European Central Bank's latest policy decision.
Brent crude was up 0.91% to $50.18 per barrel and West Texas Intermediate increased 0.81% to $49.41 per barrel at 0843 BST before OPEC leaders gathered in Vienna to discuss ways to tackle the global supply glut later on Thursday.
Reports on Wednesday suggested OPEC may consider a new output ceiling in its closed-door meeting. OPEC has been producing about 32.5 million barrels per day, above the 30 million barrel ceiling that had previously been in place.
"I highly doubt any ceiling would require a cut in current production levels, given the reluctance to do reduce output until now," said Craig Erlam, senior market analyst at Oanda.
"Even a freeze would be very surprising given that its plan to let the markets balance themselves by pricing out higher cost players is finally baring some fruit."
Traders are also looking ahead to government data on US weekly crude inventories at 1600 BST.
The ECB is due to announce its policy decision at 1245 BST followed by a press conference with President Mario Draghi at 1330 BST.
The central bank is expected to keep policy unchanged so economists will be more interested in the ECB's latest economic and inflation forecasts.
"Interestingly oil may well play a key part in the ECB's press conference later today," said Connor Campbell, financial analyst at Spreadex. "Analysts are expecting the central bank to revise the Eurozone's inflation forecasts higher, in part due to the black stuff's recent rallies."
In Asia, Bank of Japan board member Takehiro Sato criticised the central bank's negative interest rate policy as counter-productive.
Sato called on the BOJ to enact policy measures that will have a long-term effect on beating deflation. He also slammed the 2% inflation target, saying rising prices without wage gains would hurt consumption.
Still to come, Markit/CIPS UK construction purchasing managers' index at 0930 BST, the US ADP private payrolls report at 1315 BST and US initial jobless claims at 1330 BST.
In company news, Johnson Matthey shares rallied even as it reported a 22% drop in full year pre-tax profit, partly due to costs related to its restructuring programme. Yet revenues gained 6% and chief executive Robert MacLeod said: "Looking ahead to 2016/17, we expect performance to be ahead of 2015/16 and in line with current market expectations."
Ryanair flew higher as it reported a 12% jump in passenger numbers in May.
Fastjet slumped after the Tanzania-based budget airline posted a narrower loss the year to the end of December but said it expects to report a trading loss and to remain cash flow negative in 2016.
Investec slid after announcing its intention to place up to 30.87 million new ordinary shares in the company, representing 4.99% of its current issued share capital and 3.4% of Investec plc and Investec Ltd's current issued share capital. |
| | 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) 6,208.56 0.27%
FTSE 250 (MCX) 17,058.20 -0.02%
techMARK (TASX) 3,111.79 -0.01%
FTSE 100 - Risers
Ashtead Group (AHT) 984.50p 2.45%
Barclays (BARC) 183.80p 2.14%
Standard Chartered (STAN) 533.00p 2.05%
Royal Bank of Scotland Group (RBS) 243.90p 1.79%
GKN (GKN) 280.70p 1.63%
Johnson Matthey (JMAT) 2,867.00p 1.41%
Rolls-Royce Holdings (RR.) 611.50p 1.07%
HSBC Holdings (HSBA) 449.20p 0.98%
Royal Mail (RMG) 534.50p 0.94%
Royal Dutch Shell 'B' (RDSB) 1,679.50p 0.93%
FTSE 100 - Fallers
Taylor Wimpey (TW.) 188.60p -4.60%
National Grid (NG.) 972.40p -3.29%
Marks & Spencer Group (MKS) 358.90p -3.24%
Wolseley (WOS) 3,772.00p -1.46%
Antofagasta (ANTO) 412.20p -0.84%
Provident Financial (PFG) 2,851.00p -0.77%
Smith & Nephew (SN.) 1,168.00p -0.68%
Associated British Foods (ABF) 2,913.00p -0.51%
Rexam (REX) 627.50p -0.48%
RSA Insurance Group (RSA) 487.90p -0.47%
FTSE 250 - Risers
Tullow Oil (TLW) 236.50p 2.43%
Ophir Energy (OPHR) 72.40p 2.19%
Weir Group (WEIR) 1,197.00p 2.13%
TalkTalk Telecom Group (TALK) 243.50p 1.93%
Vesuvius (VSVS) 339.80p 1.40%
Amec Foster Wheeler (AMFW) 436.90p 1.39%
Paragon Group Of Companies (PAG) 309.90p 1.31%
Interserve (IRV) 335.10p 1.21%
Morgan Advanced Materials (MGAM) 246.60p 1.19%
Hastings Group Holdings (HSTG) 183.00p 1.10%
FTSE 250 - Fallers
Moneysupermarket.com Group (MONY) 308.80p -6.71%
Brown (N.) Group (BWNG) 230.00p -4.17%
Allied Minds (ALM) 318.10p -2.54%
Laird (LRD) 345.80p -2.43%
Acacia Mining (ACA) 303.10p -2.38%
Cobham (COB) 134.60p -2.23%
Marshalls (MSLH) 316.20p -2.11%
Victrex plc (VCT) 1,398.00p -1.76%
Spire Healthcare Group (SPI) 348.20p -1.69% |
| | UK Event Calendar | | Thursday 02 June
INTERIM EX-DIVIDEND DATE
A&J Mucklow Group, Associated British Foods, Blackrock Frontiers Investment Trust, Cardiff Property, Cerillion , Debenhams, easyHotel, Grainger, Greencore Group, Jersey Electricity 'A' Shares, Northern Venture Trust, Renew Holdings, SSP Group , Stride Gaming, Titon Holdings, Zoopla Property Group (WI)
QUARTERLY EX-DIVIDEND DATE
GLI Alternative Finance , Premier Energy & Water Trust, SQN Asset Finance Income Fund Limited C SHS NPV, UIL Limited (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (16:00)
ECB Interest Rate (EU) (12:45)
Initial Jobless Claims (US) (13:30)
Producer Price Index (EU) (10:00)
FINALS
Iomart Group, Johnson Matthey
SPECIAL EX-DIVIDEND PAYMENT DATE
Marks & Spencer Group, Marshalls, Northern Venture Trust, Taylor Wimpey
AGMS
Advanced Medical Solutions Group, Augean, Camellia, EKF Diagnostics Holdings , F&C Commercial Property Trust Ltd., Gama Aviation , Hygea VCT, International Public Partnerships Ltd., Invesco Perpetual UK Small Companies Inv Trust, Ruspetro, Shanta Gold Ltd., VPC Specialty Lending Investments
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
Croda International, Mitsubhi Electric Corp., Smart Metering Systems, Toyota Motor Corp., TT Electronics
FINAL EX-DIVIDEND DATE
Aberdeen New Thai Inv Trust, Augean, Billington Holdings, Flowtech Fluidpower, Gamma Communications, Great Portland Estates, Headlam Group, Hilton Food Group, HSS Hire Group , Inspired Energy, JPMorgan Euro Small Co. Trust, Keywords Studios, Laird, Marks & Spencer Group, Marshalls, Mckay Securities, Moss Bros Group, Nasstar, National Grid, Pacific Assets Trust, Powerflute Oyj (DI), RTC Group, Spire Healthcare Group, Staffline Group, Synthomer
|
| | 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 ahead of ECB, OPEC European stocks wavered in early trade as investors exercised caution ahead of the European Central Bank rate announcement and the OPEC meeting in Vienna.
At 0850 BST, the benchmark Stoxx Europe 600 index was flat, Germany's DAX was down 0.3% and France's CAC 40 was 0.2% lower.
At the same time, oil prices were just a touch higher ahead of the meeting of the Organisation of the Petroleum Exporting Countries later in the day. West Texas Intermediate was up 0.1% to $49.04 a barrel and Brent crude was 02% firmer at $49.84.
Lee Wild, head of equity strategy at stockbroker Interactive Investor, said: "It's all eyes on Vienna Thursday. Both OPEC and the ECB meet in the Austrian capital, but neither is expected to announce market-moving news. It's highly unlikely the Saudis will convince Iran to accept a cartel-wide production ceiling. After years in the wilderness, Tehran is keen to grab market share.
"European policymakers, meanwhile, have enough on their plate implementing measures agreed in March. At best, there is an outside chance that a surge in the oil price to $50 may trigger a rare upgrade to inflation forecasts."
Societe Generale does not expect any policy action from the ECB, but said a "small, and rare" upward adjustment to the staff projections was likely.
In corporate news, Johnson Matthey rallied in London after the specialty chemicals firm posted a drop in full-year profit that met analysts' expectations and expressed confidence over the current year.
Austrian steelmaker Voestalpine racked up healthy gains as its full-year net profit came in ahead of analysts' expectations.
The European Central Bank rate announcement is at 1245 BST.
In the US, initial jobless claims are at 1330 BST. The ADP employment report at 1315 BST is likely to be watched more closely, however, as it's generally considered a pre-cursor to the all-important non-farm payrolls on Friday.
If the payrolls report surprises to the upside, it could well underpin the argument for a US rate hike in a couple of weeks. |
| | 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 | | US close: Stocks inch into green as Beige Book meets mixed data US stocks inched higher on Wednesday as oil prices yo-yoed and the Federal Reserve's 'Beige Book' noted tight labor markets and growing price pressure.
Other factors that percolated through traders decision-making were the trimming of US national growth forecasts by the Organisation for Economic Co-operation and Development (OECD) and better than expected data about the manufacturing sector.
By the close, the Dow Jones Industrial Average clawed back early losses to creep 2.47 points higher to end at 17,789.67, likewise the S&P 500 added 2.37 points to 2,099.33 and the Nasdaq put on 4.2 points to finish at 4,952.25.
As members of the Organization of the Petroleum Exporting Countries convened in Vienna, oil prices intially fell on the prospect of rising production, before climbing on rumours of a production freeze, which were later crushed by the United Arab Emirates oil minister.
West Texas Intermediate crude was up 0.2% to $49.22 per barrel and Brent 0.1% higher at $49.95 per barrel. The dollar fell 0.5% against the euro to $1.1188, rose 0.5% against the pound to $1.4415 and slid 1.13% versus the yen to $0.009131.
Beige outlook
The Fed's biquarterly report on regional economic conditions, known as the Beige Book, found labour markets seemed to be tightening despite "modest" job growth, which was pushing up wages.
"Tight labor markets were widely noted in most districts," the anecdotal report said. "Price pressure grew slightly in most districts."
The Fed reported modest or moderate economic growth in the majority of its 12 districts, with several districts noting that contacts had "generally optimistic outlooks, with firms expecting growth either to continue at its current pace or to increase".
The view from outside was that US growth will be more modest than had hitherto been expected.
In its latest economic outlook, the OECD cut its forecast for US gross domestic product to 1.8% this year, compared to an estimate of 2.5% in November. GDP rose 2.4% last year.
In its wider assessment of the global economy the Paris-based organisation said the recovery remains weak due to subdued trade and problems in emerging markets.
Data deluge
Meanwhile, Markit's final US manufacturing purchasing managers' index came in at 50.7 in May, up from the flash estimate of 50.5 but down from 50.8 in April and pointing to the weakest performance since September 2009.
Other industry data came from ISM, where the manufacturing index rose to 51.3 in May from 50.8, surprising analysts' who had pencilled in a reading of 50.4.
US construction spending recorded its biggest decline in more than five years in April, the Commerce Department revealed.
Construction spending fell 1.8% in April from a month ago, missing estimates for a 0.6% increase and following a 1.5% rise in March.
Corporates
In corporate news, Under Armour was in the red after the sportswear maker cut its outlook for the year.
Michael Kors rallied after reporting fourth quarter revenue that beat analysts' estimates.
Vera Bradley edged lower as it reported a 6.7% decline in quarterly same-store sales, blaming a drop in e-commerce sales.
S&P 500 - Risers
Endo International Plc (ENDP) $16.62 +5.12%
Whole Foods Market Inc. (WFM) $33.94 +4.91%
Marathon Petroleum Corporation (MPC) $36.44 +4.62%
Molson Coors Brewing Co. Class B (TAP) $102.17 +3.01%
Cabot Oil & Gas Corp. (COG) $24.67 +2.92%
Micron Technology Inc. (MU) $13.09 +2.91%
Mallinckrodt Plc Ordinary Shares (MNK) $65.19 +2.89%
NRG Energy Inc. (NRG) $16.85 +2.87%
Southwestern Energy Co. (SWN) $14.06 +2.85%
Humana Inc. (HUM) $177.40 +2.83%
S&P 500 - Fallers
Freeport-McMoRan Inc (FCX) $10.60 -4.33%
Equity Residential (EQR) $66.37 -4.10%
Under Armour Inc. Class A (UA) $36.25 -3.92%
Essex Prty Trust Inc. (ESS) $218.93 -3.65%
Yahoo! Inc. (YHOO) $36.65 -3.40%
Carmax Inc. (KMX) $52.09 -2.93%
Ford Motor Co. (F) $13.11 -2.82%
United States Steel Corp. (X) $14.07 -2.76%
National Oilwell Varco Inc. (NOV) $32.10 -2.58%
Helmerich & Payne Inc. (HP) $59.81 -2.19%
Dow Jones I.A - Risers
and Co. (DD) $66.40 +1.51%
Procter & Gamble Co. (PG) $81.79 +0.93%
JP Morgan Chase & Co. (JPM) $65.69 +0.64%
Unitedhealth Group Inc. (UNH) $134.53 +0.64%
Travelers Company Inc. (TRV) $114.84 +0.61%
Visa Inc. (V) $79.22 +0.35%
Goldman Sachs Group Inc. (GS) $159.97 +0.31%
Exxon Mobil Corp. (XOM) $89.24 +0.25%
American Express Co. (AXP) $65.91 +0.23%
Coca-Cola Co. (KO) $44.70 +0.22%
Dow Jones I.A - Fallers
Apple Inc. (AAPL) $98.46 -1.40%
Verizon Communications Inc. (VZ) $50.43 -0.92%
International Business Machines Corp. (IBM) $152.51 -0.80%
Walt Disney Co. (DIS) $98.52 -0.71%
Nike Inc. (NKE) $54.93 -0.53%
Cisco Systems Inc. (CSCO) $28.90 -0.52%
General Electric Co. (GE) $30.11 -0.40%
Wal-Mart Stores Inc. (WMT) $70.50 -0.40%
Caterpillar Inc. (CAT) $72.27 -0.33%
Microsoft Corp. (MSFT) $52.85 -0.28%
Nasdaq 100 - Risers
Endo International Plc (ENDP) $16.62 +5.12%
Whole Foods Market Inc. (WFM) $33.94 +4.91%
Charter Communications Inc. (CHTR) $227.50 +3.91%
Micron Technology Inc. (MU) $13.09 +2.91%
Mylan Inc. (MYL) $44.46 +2.58%
Costco Wholesale Corp. (COST) $152.52 +2.52%
Western Digital Corp. (WDC) $47.63 +2.34%
Seagate Technology Plc (STX) $23.01 +1.99%
Dish Network Corp. (DISH) $50.73 +1.66%
Twenty-First Century Fox Inc Class A (FOXA) $29.35 +1.63%
Nasdaq 100 - Fallers
Yahoo! Inc. (YHOO) $36.65 -3.40%
JD.com, Inc. (JD) $23.79 -3.33%
Ctrip.Com International Ltd. Ads (CTRP) $44.32 -3.15%
Biomarin Pharmaceutical Inc. (BMRN) $87.40 -2.51%
NetApp Inc. (NTAP) $25.07 -1.80%
Tesla Motors Inc (TSLA) $219.56 -1.64%
eBay Inc. (EBAY) $24.07 -1.59%
Activision Blizzard Inc. (ATVI) $38.65 -1.55%
Apple Inc. (AAPL) $98.46 -1.40% |
| | 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 | | Thursday newspaper round-up: BHS, Brexit, OPEC The father and son property tycoons who helped Dominic Chappell to fund his doomed acquisition of BHS have been called to appear before the two House of Commons select committees investigating its collapse. Guy and Alex Dellal, the son and grandson of legendary property magnate 'Black Jack' Dellal, who run Allied Commercial Exports, loaned Mr Chappell's Retail Acquisitions vehicle £35m in order to help buy BHS. - Telegraph
The Leave campaign must choose. It cannot safeguard access to the EU single market and offer a plausible arrangement for the British economy, unless it capitulates on the free movement of EU citizens. One or other must give. If Brexiteers wish to win over the cautious middle of British politics, they must make a better case that our trade is safe. This means accepting the Norwegian option of the European Economic Area (EEA) - a 'soft exit' - as a half-way house until the new order is established. - Telegraph
Iran's oil minister has rejected suggestions Opec will agree a production cap at a meeting due to take place in Vienna, saying his country backs a return to a national quota system. Tehran, which only recently returned to world oil markets after western sanctions were lifted, has opposed any attempt to limit output to support weak crude prices. - Guardian
George Osborne, the chancellor, and ministers from the UK's extensive network of tax havens are among key witnesses that MEPs intend to call as part of a major inquiry set to be launched into the Panama Papers. Leaders of the European parliament meet in Brussels on Thursday to approve the creation of an influential 65-member "inquiry committee", which is expected to target the tax avoidance industry nurtured by Britain and other European member states. - Guardian
A flag bearing the legend "British Steel" was flying above a UK steelworks again last night as the Scunthorpe works was sold for £1 to the investment funds of two secretive European families. The deal to rescue Scunthorpe - sealed without government loans or other financial support - will see workers take a 3 per cent pay cut and no longer be active members of the £14 billion British Steel Pension Scheme. That scheme and its liabilities remain for now with Tata Steel, the Indian company that sold Scunthorpe and is attempting to quit the rest of its UK interests. - The Times
The differences between Opec members were already on show as delegates arrived before Thursday's meeting. The price of Brent crude slipped 93 cents to $48.96 a barrel. Despite the divergence in public comments from Opec delegates, Reuters reported that Saudi Arabia and its Gulf allies were seeking a co-ordinated response to stabilise the market. - The Times
Spies, hackers and other unknown attackers broke into the computer system of the American central bank on multiple occasions between 2011 and 2015, resulting in more than 50 cyberbreaches, Federal Reserve records disclose. The Fed's cybersecurity experts identified 310 incident reports during the four-year period, and classified 140 as hacking attempts and four as espionage, the records obtained by Reuters show. These resulted in 51 incidents of "information disclosure". - The Times | | |
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 | |
No comments:
Post a Comment