| | | | | | | Is your pension enough to fall back on? If you have a £250,000 portfolio, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can use right now. Don't miss it! Click Here to Download Your Guide! | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks surge after latest poll results Stocks in London surged at the start of trading, alongside the largest gain the pound in three months, with investors taking their cue from strong gains in Asia as Brexit polls showed the Remain campaign was in the lead.
As of 08:43 BST the FTSE 100 was 145.82 points or 2.42% higher at 6,166.
Against the US dollar the pound was gaining 1.61% to 1.4593.
"We're still getting some rather ludicrous predictions of what the pound might do in the event of a "leave" vote, which to some extent has caused some rather extreme positioning, and will likely contribute to a lot more choppiness in the coming days, as this morning's Asia surge catches an awful lot of people the wrong way round," Michael Hewson, Chief Market Analyst at CMC Markets UK, said.
Over the weekend, a Survation poll in the Daily Mail revealed that support for the 'Remain' campaign was in the lead at 45.0% versus 52.0% for 'Leave', while two Yougov polls - one for ITV's Good Morning Britain and one for the Sunday Times - both showed Remain in front.
In addition, a ComRes poll for the Sunday Mirror revealed the percentage of people saying they'd be relieved if the UK stayed in the EU rose to 45% after the murder of MP Jox Cox, from 35% before.
Meanwhile, an opinion survey conducted for the Observer between Tuesday and Friday showed an even split but of the 10% undecided, 36% said they were leaning towards Remain.
According to Oddschecker's tally of the odds being offered by bookmakers, the chances of 'Remain' coming out on top were being put at 31%, down from a record 44.0% just before the killing of lawmaker Jo Cox.
Naeem Aslam, chief market analyst at Think Forex, said: "The general mood among investors over in Europe is positive after an upbeat handover over from Asia. Investors are feeling a lot calmer after recent polls show that the Remain group has gained more popularity in the Brexit referendum campaign.
"This week the focus will be completely on Brexit."
Circassia sinks after drug trial results
Shares in biopharmaceutical development company Circassia Pharmaceuticals plummeted on Monday morning, after it announced disappointing top-line results from its investigational cat allergy immunotherapy phase III study.
Hammerson said it has exchanged contracts and completed the sale of Thurrock Shopping Park, Essex, to TH Real Estate for £93m.
The sale price represents a net initial yield of 5.3% and is moderately below the book value as at 31 December 2015, Hammerson said.
Late-stage drug trials by GlaxoSmithKline on its treatment for chronic obstructive pulmonary disease (COPD) have proved successful. The Phase III clinical testing by GSK and project partner Innoviva delivered data that is likely to support European regulatory submission by the end of 2016.
FTSE 250 precision instruments maker Spectris has completed the acquisition of the software and associated assets of privately-held software solutions company Capstone Technology Corp for $22.5m.
Capstone comprises two key software platforms: the MACS software suite providing engineering services and software for advanced process control optimisation and dataPARC, which is a data historian, visualisation and analytics software suite for operational decision support. |
| | Join the UK`s hottest investment niche & discover great returns! | | Earn 6.37% up to 7.52% p.a paid to your bank account monthly! Limited availability - Offer ends on 31.6.16 Click Here |
| | UK Event Calendar | | Monday 20 June
INTERIM DIVIDEND PAYMENT DATE
UDG Healthcare Public Limited Company
QUARTERLY PAYMENT DATE
SQN Asset Finance Income Fund Limited C SHS NPV
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (GER) (07:00)
EGMS
Greka Engineering & Technology Ltd. (DI), OAO Novatek GDR (Reg S)
AGMS
Ascent Resources, Cathay International Holdings Ltd., Electrical Geodesics Inc. (DI), Microsaic Systems, Premier Technical Services Group , Rasmala, Tarsus Group, Valirx, Vimetco NV GDR (Reg S)
FINAL DIVIDEND PAYMENT DATE
BlackRock Smaller Companies Trust, ICG Enterprise Trust, IFG Group, Kingfisher, NMC Health, Pagegroup
FINAL EX-DIVIDEND DATE
Tongaat-Hulett Ltd.
|
| | Brexit: Protect Your Portfolio | | Get all the details now in this FREE Report In just a few weeks the UK will face its biggest decision in decades. Download your FREE report now |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rally as Brexit fears recede European stocks rallied in early trade, with banks pacing the advance as the latest EU referendum polls revealed a shift in support.
At 0840 BST, the benchmark Stoxx Europe 600 index was up 2.8%, Germany's DAX was 3% higher and France's CAC 40 was up 2.9%. Banks racked up the most impressive gains, with the Stoxx 600 sub-index for the sector up 4.1%.
At the same time, oil prices advanced, with West Texas Intermediate up 1.5% at $48.70 a barrel and Brent crude up 1.7% at $49.98.
Rebecca O'Keeffe, head of investment at Interactive Investor, said: "A significant shift in sentiment has seen global equity markets rally strongly as investors position their portfolios for a Remain vote. Investors who had been bracing themselves for the possibility of a vote to leave the EU had moved a substantial amount of money out of equities over the past two weeks, with many investors sitting on more cash than usual. With new polls suggesting a marked shift towards Remain, a wave of money is now entering the market, as investors view current index levels as oversold.
"However, the UK is not over the line yet, so although the odds of an exit vote have diminished dramatically, the possibility of further volatility and a shift back towards a more uncertain outcome over the coming days could see markets adversely react. For this morning though, investors are seeing financial and property companies lead the way higher as the market shrugs off its fears."
A Survation poll in the Daily Mail revealed that support for the Remain campaign was in the lead, while two Yougov polls - one for ITV's Good Morning Britain and one for the Sunday Times - both showed Remain in front.
In addition, a ComRes poll for the Sunday Mirror revealed the percentage of people saying they'd be relieved if the UK stayed in the EU rose to 45% after the murder of MP Jox Cox, from 35% before.
Meanwhile, an opinion survey conducted for the Observer between Tuesday and Friday showed an even split but of the 10% undecided, 36% said they were leaning towards Remain.
The polls lifted the pound, which surged against the US dollar and the euro.
In corporate news, UniCredit pushed higher after Italian newspaper Il Fatto Quotidiano reported that the bank was likely to appoint former government minister Corrado Passera as its next chief executive officer.
Spain's Banco Bilbao Vizcaya Argentaria gained on reports it instigated a new strategic plan in March that was not announced to the market.
Shares in beleaguered German car maker Volkswagen jumped following a report it will submit its $10bn plan to fix emissions-cheating cars or get them off US roads this month.
Bayer was also a high riser after a report it is in talks with investment banks about strategic alternatives for its radiology supplies business.
GlaxoSmithKline was on the front foot after late-stage drug trials on its treatment for chronic obstructive pulmonary disease proved successful.
Hammerson was also in the black after saying it has exchanged contracts and completed the sale of Thurrock Shopping Park to TH Real Estate for £93m.
Data released earlier by Destatis showed German producer prices rose a little more than expected in May.
Prices were up 0.4% from April versus expectations of a 0.3% increase. On the year, however, producer prices were 2.7% weaker. Still, this was better than the 2.9% drop expected by economists.
Excluding energy, prices were up 0.2% on the month and down 0.8% on the year. |
| Share your opinion by taking this quick survey
and get a chance to win one of five Surface Pro 4 Notebooks! | | Click Here |
| | US Market Report | | US close: Health and big-tech send S&P 500 to second weekly drop Losses in health and large-cap tech stocks weighed on Wall Street at the end of the week, amid higher-than-usual trading volumes following the quarterly expiry of futures and options tied to equity indices and individual stocks.
The Dow Jones Industrials lost 0.33% or 57.94 points to end the session at 17,675.16, alongside losses of 0.33% for the S&P 500 and of 0.92% in the tech-laden Nasdaq.
That saw the S&P 500 register its second consecutive retreat, with a weekly loss of 1.2%.
To take note of, the VIX volatility index rose 0.2% on Friday, rising to 19.41, for a roughly 37% advance - its largest since August.
In Europe, the main indices were all over 1% higher as both sides of the referendum debate suspended campaigning until Saturday at the earliest following the murder of a British MP on Thursday.
Labour MP Jo Cox was shot and stabbed in her constituency town of Birstall near Leeds, allegedly by local resident Tommy Mair, who is reported to have shouted "Britain First" as he attacked her. There was a sense among market participants on Friday that the incident could sway public opinion back towards a Remain vote.
"One of the triggers for the change in market sentiment appears to be the suspension of Brexit campaigns following tragic killing of MP Jo Cox. The suspension of campaigns just means Brexit can temporarily move to the sidelines," said Lawler.
"The killer is reported to have said 'Britain First' before shooting the MP, who was a strong believer in Britain remaining in the European Union. If true, it could tarnish the image of pro-Brexit supporters."
On the economic data front, US housing starts fell a little less than expected in May, according to the Commerce Department. Housing starts slipped 0.3% month-on-month to a seasonally-adjusted annual rate of 1.16m versus expectations of a decline to 1.15m.
Meanwhile, oil prices recovered, with West Texas Intermediate up $1.99 a barrel to $47.98 despite the latest weekly data from Baker Hughes revealing a third back-to-back rise in the US oil rig count, which was up by nine to 337.
In corporate news, Apple shares declined following reports that Beijing's Intellectual Property Office ruled that the iPhone 6 and 6S models are similar to Shenzhen Baili's 100C phone. This could lead to iPhone sales being halted in Beijing.
Microsoft nudged lower following news it was partnering with a cannabis industry software company.
Losses in Merck were attributed to negative broker comments on the outlook for sales of its Hepatitis treatment.
Poor analysts' comments also weighed on Alphabet.
Softwar-maker Oracle rose after reporting a smaller than expected drop in fiscal fourth quarter sales from $10.7bn to $10.59bn (consensus: $10.47bn).
Cosmetics giant Revlon gained after saying late on Thursday that it had agreed to buy Elizabeth Arden for $14 per share in cash, representing an enterprise value of around $870m.
S&P 500 - Risers
Transocean Ltd. (RIG) $11.31 +7.51%
Chesapeake Energy Corp. (CHK) $4.51 +6.37%
Murphy Oil Corp. (MUR) $29.34 +4.86%
Gap Inc. (GPS) $20.13 +4.08%
National Oilwell Varco Inc. (NOV) $35.18 +3.93%
Marathon Oil Corp. (MRO) $13.16 +3.87%
Diamond Offshore Drilling Inc. (DO) $24.75 +3.82%
Kohls Corp. (KSS) $36.35 +3.71%
FMC Technologies Inc. (FTI) $27.05 +3.60%
Signet Jewelers Ltd (SIG) $84.90 +3.51%
S&P 500 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $86.73 -4.07%
Regeneron Pharmaceuticals Inc. (REGN) $354.21 -3.36%
Linear Technology Corp. (LLTC) $46.15 -3.25%
Endo International Plc (ENDP) $16.44 -2.84%
Merck & Co. Inc. (MRK) $55.89 -2.80%
Alphabet Inc. Class A (GOOGL) $704.25 -2.76%
Alphabet Inc. Class C (GOOG) $691.72 -2.62%
Activision Blizzard Inc. (ATVI) $38.08 -2.43%
Apple Inc. (AAPL) $95.33 -2.28%
FLIR Systems Inc. (FLIR) $30.56 -2.21%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $75.93 +1.25%
Walt Disney Co. (DIS) $99.00 +0.63%
International Business Machines Corp. (IBM) $151.99 +0.62%
E.I. du Pont de Nemours and Co. (DD) $67.33 +0.61%
Verizon Communications Inc. (VZ) $53.78 +0.60%
Chevron Corp. (CVX) $101.57 +0.49%
Nike Inc. (NKE) $53.71 +0.45%
Boeing Co. (BA) $129.82 +0.35%
Cisco Systems Inc. (CSCO) $28.95 +0.28%
Intel Corp. (INTC) $31.76 +0.22%
Dow Jones I.A - Fallers
Merck & Co. Inc. (MRK) $55.89 -2.80%
Apple Inc. (AAPL) $95.33 -2.28%
Visa Inc. (V) $76.99 -1.74%
Pfizer Inc. (PFE) $34.22 -1.53%
Coca-Cola Co. (KO) $44.79 -1.15%
Johnson & Johnson (JNJ) $115.48 -0.99%
Travelers Company Inc. (TRV) $111.86 -0.79%
Unitedhealth Group Inc. (UNH) $137.69 -0.70%
Goldman Sachs Group Inc. (GS) $145.64 -0.68%
3M Co. (MMM) $168.94 -0.58%
Nasdaq 100 - Risers
Biomarin Pharmaceutical Inc. (BMRN) $83.86 +3.79%
Bed Bath & Beyond Inc. (BBBY) $43.85 +3.30%
Seagate Technology Plc (STX) $23.22 +2.34%
Micron Technology Inc. (MU) $12.20 +2.09%
NetApp Inc. (NTAP) $24.86 +1.59%
Vodafone Group Plc ADS (VOD) $30.91 +1.41%
Symantec Corp. (SYMC) $19.97 +0.96%
American Airlines Group (AAL) $29.34 +0.69%
Illumina Inc. (ILMN) $137.05 +0.52%
Fastenal Co. (FAST) $44.47 +0.38%
Nasdaq 100 - Fallers
Ctrip.Com International Ltd. Ads (CTRP) $38.06 -4.47%
Vertex Pharmaceuticals Inc. (VRTX) $86.73 -4.07%
Incyte Corp. (INCY) $77.11 -3.61%
Regeneron Pharmaceuticals Inc. (REGN) $354.21 -3.36%
Linear Technology Corp. (LLTC) $46.15 -3.25%
Endo International Plc (ENDP) $16.44 -2.84%
Alphabet Inc. Class A (GOOGL) $704.25 -2.76%
Alphabet Inc. Class C (GOOG) $691.72 -2.62%
Activision Blizzard Inc. (ATVI) $38.08 -2.43% |
| | 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 | | Monday newspaper round-up: Sterling, City jobs, Williams & Glyn, CMA The British pound was powering ahead in Asian morning trading on Monday as the latest opinion polls on Britain's EU referendum showed the two camps running neck and neck. In previous weeks, the campaign for the UK to vote in favour of leaving the EU at its June 23 referendum had slowly gained momentum, unsettling the pound and markets in general. - Financial Times
Officials in Frankfurt are looking at plans to seize trading in hundreds of billions' worth of euros processed in London should the UK vote to leave the European Union. In a move that could jeopardise tens of thousands of City jobs, the European Central Bank is exploring a contingency for Brexit that would force financial institutions to move all their euro- denominated business through a clearing house based inside the eurozone. - The Times
Royal Bank of Scotland has put on hold for the rest of the year its marketing efforts to create the brand for the smaller lender that it is supposed to carve out under state aid rules. Uncertainty surrounds the task of launching Williams & Glyn, with some observers predicting that the name will never appear on the high street because of IT issues and management problems. - The Times
Regulators are about to drop a contentious accusation that the "big six" energy suppliers have overcharged customers by £1.7bn a year, in the latest sign the watchdog is retreating from some of its toughest previous verdicts. After two years of investigation, the Competition and Markets Authority will publish its final recommendations on Friday on how to shake up the energy market. - Financial Times
Britain's share of global merger and acquisition activity has tumbled to a record low, as dealmaking freezes amid the uncertainty over the UK's membership of the EU. The volume of deals involving UK targets is down almost 70 per cent this year compared with the same period in 2015, with the $57.6bn spent on transactions accounting for only 4 per cent of worldwide M&A. - Financial Times
National Grid is recruiting cash-strapped NHS hospitals to fire up their emergency generators and turn down their air conditioning systems when power supplies are scarce. The company, which is responsible for balancing UK supply and demand, wants to make more use of "demand side response" schemes, in which energy users are paid to temporarily reduce the amount of power they draw from the grid. - Telegraph
Repatriation and burial of war casualties and notification of next of kin are to be run by the private sector with the Ministry of Defence set to invite bids next month for a contract to run the services. Defence Business Services was established in 2011 to run human resources, payroll and vetting, and was merged with the Service Personnel and Veterans Agency in 2014. - Financial Times
Lloyds Banking Group has accused competition regulators of making "obvious flaws" in a major study of the banking market, hitting back against claims that its accounts are expensive and its customers unsatisfied. Lloyds was criticised last year by the Competition and Markets Authority's (CMA) initial report into the sector, as regulators found Lloyds' accounts were among the most expensive in the industry while also offering "below average quality". - Telegraph
William Hill has begun another review of its online operations only six months after it claimed that it had drawn a line under problems with its digital platform. KPMG has been called in to conduct a strategic review of the bookmaker's business with a focus on the online and technology operations. - Mail
A businessman who claims his firm was asset-stripped by bankers said his concerns were repeatedly ignored by politicians. Neil Mitchell, who was chief executive at software firm Torex Retail when it passed into the control of Royal Bank of Scotland after he blew the whistle on an accounting scandal, has claimed RBS's global restructuring group let his company collapse instead of helping the struggling firm as it was meant to. He alleges the sale price was too low and has launched a £128million lawsuit. He also claims to have unearthed 388 similar cases involving RBS. - Mail
London and Country Mortgages, Britain's biggest fee-free mortgage broker, is ignoring worries over the fate of the housing market in the wake of the EU referendum by lining up a sale or stock market float with a valuation of up to £300m. The company, majority-owned by its chairman, Michael Edge, has appointed advisers to run a twin-track sales process. It is understood that London and Country is likely to be offered to banks, rival brokers, comparison websites and independent financial advisers. - Telegraph
Westminster grillings of Sir Philip Green and Mike Ashley should remind business leaders of the impact that their behaviour can have on public opinion, an influential body has warned. The Institute of Directors' comments come amid parliamentary investigations into the collapse of BHS and employment conditions at Sports Direct, which have triggered the latest in a series of hearings featuring business leaders over recent years. - The Times
The value of fines issued by the financial regulator against firms dropped 37% last year though fines against individuals has more than doubled, research has found. Firms were hit with bills of £880m by the Financial Conduct Authority in 2015, compared to £1.4billion a year earlier, according to figures from law firm Clyde & Co. - Mail
Fears over the outcome of the European Union referendum are a key challenge for Britain's hospitality industry, with a potential Brexit causing uncertainty for consumers and business leaders. Almost three quarters of industry chief executives surveyed for the British Hospitality Association's Leaders' Report said that they would be voting to stay in the EU on Thursday, with 8 per cent undecided and 18 per cent said that they supported a Brexit. - 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