| | | | | | | Brexit? Recession? Is your pension safe? If you have a £250,000 portfolio, download the guide written by Forbes columnist and money manager Ken Fisher's firm. Its called "The 15-Minute Retirement Plan." 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: Housebuilders lead FTSE higher on Brexit confidence London stocks inched up on Wednesday morning as polls showed the EU referendum remained too close to call, though rallying housebuilding and financials stocks indicated investors were confident a Brexit will be avoided.
The FTSE 100 was 0.09% higher at 6,232.19 just before 0900 BST, though the mid-cap 250 index was down 0.24% to 16,940.10.
Sterling was almost flat against the dollar at 1.4645 and down a bit further against the euro at 1.2992, with three Brexit opinion polls due out later in the day offering the potential to rattle the pound's cage rather significantly.
YouGov, TNS, Opinium, all online polls, are scheduled to published during the session.
"Traders are cautious today and we are expecting further volatility today as the gap continued to widen between the market expectations and Brexit polls," said analyst Naeem Aslam at Think Forex.
"The global rally witnessed in previous days is facing some headwinds as fears over the Brexit loom. Most investors are in the mood to take some profits off the table and this could impact the volume in the market as we march towards the final hours of the referendum campaign."
Although global markets all are said to diverted by the UK referendum, European markets began higher after a mixed Asia session and a positive US close.
At the same time, despite the stronger dollar, oil prices advanced, with West Texas Intermediate up 0.9% at $50.32 a barrel and Brent crude 0.8% firmer at $51.00.
Overnight, US Federal Reserve Chair Janet Yellen told the Senate that a rate rise could be "appropriate in the coming months".
"But Yellen has said 'rate hike in the coming months' since the turn of the year," observed Mike Van Dulken of Accendo Markets.
"And in aggregate she took a rather cautious tone. Note also that while she said a Brexit vote might not result in a US recession, ECB President Draghi said he is prepared for all eventualities come Friday."
In corporate news, department store chain Debenhams was sharply lower after it said like-for-like sales fell in the third quarter and warned gross profit margins could be flatter than previously thought.
Housebuilders Taylor Wimpey, Persimmon, Berkeley and Barratt Developments, all of which have been hit hard by concerns about the EU referendum, were dominating the FTSE 100 risers.
Also insurers RSA, Direct Line and Admiral were joined by financial services group Hargeaves Lansdown, also indicating confidence about the result of Thursday's vote. |
| | 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 |
| Market Movers
FTSE 100 (UKX) 6,231.73 0.08%
FTSE 250 (MCX) 16,939.92 -0.24%
techMARK (TASX) 3,034.70 -0.28%
FTSE 100 - Risers
Taylor Wimpey (TW.) 190.40p 2.59%
Persimmon (PSN) 2,084.00p 1.86%
Berkeley Group Holdings (The) (BKG) 3,250.00p 1.50%
RSA Insurance Group (RSA) 481.20p 1.48%
Barratt Developments (BDEV) 568.50p 1.16%
Hargreaves Lansdown (HL.) 1,342.00p 1.13%
3i Group (III) 552.50p 1.10%
Direct Line Insurance Group (DLG) 367.60p 1.04%
Anglo American (AAL) 665.10p 1.03%
Admiral Group (ADM) 1,990.00p 1.02%
FTSE 100 - Fallers
Associated British Foods (ABF) 2,812.00p -3.07%
InterContinental Hotels Group (IHG) 2,618.00p -1.21%
Marks & Spencer Group (MKS) 359.80p -1.15%
Rolls-Royce Holdings (RR.) 624.50p -1.03%
Paddy Power Betfair (PPB) 8,930.00p -0.94%
Vodafone Group (VOD) 212.65p -0.89%
Next (NXT) 5,420.00p -0.82%
Hikma Pharmaceuticals (HIK) 2,189.00p -0.73%
Antofagasta (ANTO) 429.90p -0.72%
Barclays (BARC) 179.30p -0.58%
FTSE 250 - Risers
Circassia Pharmaceuticals (CIR) 108.50p 11.86%
Safestore Holdings (SAFE) 401.10p 3.35%
Grainger (GRI) 242.70p 2.66%
FirstGroup (FGP) 100.00p 2.04%
Go-Ahead Group (GOG) 2,075.00p 1.77%
P2P Global Investments (P2P) 859.50p 1.72%
Redrow (RDW) 409.30p 1.51%
Allied Minds (ALM) 363.50p 1.45%
Ocado Group (OCDO) 248.70p 1.34%
Countrywide (CWD) 343.50p 1.33%
FTSE 250 - Fallers
Elementis (ELM) 208.70p -7.82%
Debenhams (DEB) 70.15p -5.52%
Synthomer (SYNT) 337.90p -5.08%
Indivior (INDV) 221.70p -3.40%
Sports Direct International (SPD) 374.10p -2.65%
Vedanta Resources (VED) 417.30p -1.97%
Domino's Pizza Group (DOM) 1,022.00p -1.92%
Petrofac Ltd. (PFC) 738.50p -1.86%
Barr (A.G.) (BAG) 520.00p -1.79% |
| | UK Event Calendar | | Wednesday 22 June
INTERIM DIVIDEND PAYMENT DATE
DFS Furniture
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (EU) (15:00)
Crude Oil Inventories (US) (15:30)
Existing Home Sales (US) (15:00)
House Price Index (US) (14:00)
MBA Mortgage Applications (US) (12:00)
FINALS
Press Corp. GDR (Reg S)
ANNUAL REPORT
Worldwide Healthcare Trust
AGMS
Cadogan Petroleum, Carador Income Fund USD Shares, Cdialogues , Defenx, DW Catalyst Fund Limited Red Shs GBP, Hon Hai Precision Industry Co. Ltd. GDR (Reg S), Inspiration Healthcare Group , Oxford Pharmascience Group , Press Corp. GDR (Reg S), Randall & Quilter Investment Holdings (DI), Richoux Group, Sovereign Mines of Africa, Taliesin Property Fund Limited, Third Point Offshore Investors Ltd. GBP Shares, TLA Worldwide , Ubisense Group, Venture Life Group, Wentworth Resources Ltd (DI)
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
CBI Industrial Trends Surveys (00:00)
|
| | 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 edge higher as EU referendum looms European equity markets edged tentatively higher in what appeared to be relatively calm trading a day ahead of Britain's referendum on EU membership.
At 0835 BST, the benchmark Stoxx Europe 600 index was up 0.3%, Germany's DAX was 0.6% higher and France's CAC 40 was up 0.5%.
At the same time, oil prices advanced, with West Texas Intermediate up 0.9% at $50.32 a barrel and Brent crude 0.8% firmer at $51.00.
Rebecca O'Keeffe, head of investment at Interactive Investor, said: "Although the poll predictions are still making the EU referendum results too close to call, global equity markets have maintained their positive Remain stance over the past few days and this has continued in European trade today, with equities pushing further forward.
"With less than 24 hours before voting starts, markets are now pricing in virtually no risk of an exit vote, which begs the question as to whether the euphoria is being overdone and how much upside still exists for investors, or whether this is irrational exuberance and investors are ignoring the risks?
In corporate news, Swedish retailer Hennes & Mauritz rose despite reporting a 17% decline in second-quarter profit.
In London, FTSE 250 department store chain Debenhams was sharply lower after it said like-for-like sales fell in the third quarter and warned gross profit margins could be flatter than previously thought.
There are no Eurozone data releases of note due, but investors will turn their attention once again to Federal Reserve Chair Janet Yellen as she delivers the second part of the her two-day testimony before Congress.
"The past six months have seen investors and the market take a seemingly different view to the Federal Reserve as to the speed of any prospective US rate rises, causing significant concern that the market was being too optimistic and underestimating the risks," said O'Keeffe. |
| 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: Shares rally as Brexit fears ease US shares closed higher after a slightly choppy session saw early gains scaled back as Federal Reserve Chair Janet Yellen said a potential UK exit from the European Union could have "significant economic repercussions" and opinion polls showed a lead for the 'Remain' camp.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite indices all finished the session higher for the second day in a row.
After a positive start to the session Yellen's concerns resonated with investors who were also looking for a steer on the next rise in US interest rates. She said the Fed would take a cautious approach, closely monitoring financial developments.
She told the Senate Banking Committee that she saw "considerable uncertainty" over the US economic outlook, also highlighting the potential impact of the UK referendum which takes place on Thursday.
Yellen said the pace of improvement in the labour market appeared to have slowed, but insisted it was important not to overreact to one or two reports, adding that she reckoned the recent slowing was "transitory".
"In the current environment of sluggish growth, low inflation, and already very accommodative monetary policy in many advanced economies, investor perceptions of and appetite for risk can change abruptly," Yellen said.
"One development that could shift investor sentiment is the upcoming referendum in the United Kingdom. A U.K. vote to exit the European Union could have significant economic repercussions."
Market participants reacted to an ORB poll for the Daily Telegraph which put the Remain campaign in the lead by seven points, and a YouGov poll for The Times giving the Leave camp a two-point lead.
In addition, a phone poll by Survation for IG showed the Remain vote stayed at 45% compared to 44% leave, up two percentage points as the share of undecided voters shrank to 1%.
Elsewhere, oversupply worries saw West Texas Intermediate fall 1.1% to $48.45, while Brent Crude fell slightly but remained just above the $50 mark.
This did not deter investors from buying energy sector shares, with Marathon Oil, Range Resources, Murphy Oil and Diamond Offshore Drilling all ahead on the day.
S&P 500 - Risers
Marathon Oil Corp. (MRO) $15.09 +4.21%
Csra Inc. (CSRA) $23.70 +3.54%
Micron Technology Inc. (MU) $12.75 +3.49%
United Continental Holdings Inc. (UAL) $44.86 +3.36%
Tesoro Corp. (TSO) $77.06 +2.73%
Range Resources Corp. (RRC) $46.45 +2.70%
Diamond Offshore Drilling Inc. (DO) $25.20 +2.69%
Western Digital Corp. (WDC) $48.87 +2.65%
Coach Inc. (COH) $40.41 +2.56%
Murphy Oil Corp. (MUR) $31.85 +2.41%
S&P 500 - Fallers
Carmax Inc. (KMX) $48.14 -4.92%
United States Steel Corp. (X) $17.40 -4.92%
Endo International Plc (ENDP) $15.40 -4.17%
Borg Warner Inc. (BWA) $33.35 -3.97%
Netflix Inc. (NFLX) $90.99 -3.00%
AutoNation Inc. (AN) $47.89 -2.98%
Viacom Inc. Class B (VIAB) $43.53 -2.94%
Williams Companies Inc. (WMB) $21.67 -2.91%
Nucor Corp. (NUE) $49.99 -2.55%
Mallinckrodt Plc Ordinary Shares (MNK) $56.53 -2.55%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $51.19 +2.24%
JP Morgan Chase & Co. (JPM) $62.95 +0.93%
Apple Inc. (AAPL) $95.91 +0.85%
Nike Inc. (NKE) $54.77 +0.75%
Pfizer Inc. (PFE) $34.75 +0.72%
Verizon Communications Inc. (VZ) $54.10 +0.63%
Chevron Corp. (CVX) $103.24 +0.61%
Wal-Mart Stores Inc. (WMT) $71.46 +0.51%
Intel Corp. (INTC) $32.32 +0.47%
Exxon Mobil Corp. (XOM) $91.53 +0.45%
Dow Jones I.A - Fallers
Boeing Co. (BA) $131.52 -0.93%
Walt Disney Co. (DIS) $98.82 -0.75%
McDonald's Corp. (MCD) $122.63 -0.64%
Johnson & Johnson (JNJ) $116.18 -0.31%
Unitedhealth Group Inc. (UNH) $138.19 -0.24%
United Technologies Corp. (UTX) $101.57 -0.13%
Cisco Systems Inc. (CSCO) $28.77 -0.10%
American Express Co. (AXP) $62.29 -0.02%
Visa Inc. (V) $77.33 -0.01%
E.I. du Pont de Nemours and Co. (DD) $67.55 -0.00%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $12.75 +3.49%
Western Digital Corp. (WDC) $48.87 +2.65%
Microsoft Corp. (MSFT) $51.19 +2.24%
Symantec Corp. (SYMC) $20.92 +2.20%
Cerner Corp. (CERN) $54.81 +1.97%
Seagate Technology Plc (STX) $23.86 +1.84%
Adobe Systems Inc. (ADBE) $99.72 +1.77%
Verisk Analytics Inc. (VRSK) $80.16 +1.57%
T-Mobile Us, Inc. (TMUS) $42.92 +1.51%
Ctrip.Com International Ltd. Ads (CTRP) $39.64 +1.30%
Nasdaq 100 - Fallers
Liberty Global plc Series C (LBTYK) $31.25 -8.79%
Liberty Global plc Series A (LBTYA) $31.85 -8.66%
Endo International Plc (ENDP) $15.40 -4.17%
Biomarin Pharmaceutical Inc. (BMRN) $81.22 -3.38%
Netflix Inc. (NFLX) $90.99 -3.00%
Viacom Inc. Class B (VIAB) $43.53 -2.94%
Celgene Corp. (CELG) $96.86 -2.45%
Baidu Inc. (BIDU) $162.80 -2.24%
Regeneron Pharmaceuticals Inc. (REGN) $345.14 -2.13%
Biogen Inc (BIIB) $233.00 -1.85% |
| | 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 | | Wednesday newspaper round-up: Brexit, Amazon, BHS, MyLocal Whitehall is preparing for the biggest bureaucratic upheaval for a generation in the event of a Leave vote, as the engine of British government is reconfigured and centralised to cope with an EU exit. While informal planning is kept to a tight circle, officials at the top of the civil service are looking at options to create either a Brexit super-ministry or a dedicated trade department to manage an EU divorce and its consequences, according to aides familiar with the discussions. - Financial Times
The UK agency in charge of deciding which drugs the NHS will pay for has approved five different treatments, includingmedications for lung cancer and melanoma, in a coup for some of Europe's biggest pharmaceutical companies. The National Institute for Health and Care Excellence has recommended that drugs to treat lung cancer, high cholesterol, melanoma and a condition called hidradenitis, where sweat glands, in areas such as armpits and groin, become inflamed, leading to abscesses, boils and lesions, should be routinely funded across the NHS - albeit at heavily discounted prices. - Telegraph
Convenience store chain My Local, which was created fromMorrison's cast-offs just nine months ago, has filed notice to appoint administrators, putting around 1,700 jobs at risk. It is understood that KPMG, which has been working with the company for sometime, is waiting in the wings and My Local is expected to formally enter administration next week. - Telegraph
Amazon is quietly rooting out many of its Chinese traders who do not hold UK VAT numbers to try to protect itself from tax evasion inquiries later this year when new HMRC powers come into force, the Guardian has learned. The online retailer has been conducting a review of sellers' VAT compliance in the UK. It is understood to have contacted many Chinese sellers, giving them until the end of the month to provide their VAT numbers. - Guardian
Jaguar Land Rover, Britain's biggest carmaker, estimates its annual profit could be cut by £1bn by the end of the decade if Britain leaves the European Union, according to two sources familiar with the company's thinking. The worst case scenario estimate is outlined in internal documents seen by both sources that were prepared by the firm's chief economist, David Rea, to outline the possible consequences if Britons vote to leave the world's biggest trading bloc in Thursday's referendum. - Guardian
MPs investigating the collapse of BHS have called on the wife of Sir Philip Green to shine a light on the family's complex web of companies. Ratcheting up the pressure on the retail tycoon less than a week after he appeared before a joint committee of MPs, Lady Green has been asked to disclose a detailed list of family businesses. - The Times
Government plans to enact special legislation and change the terms of Tata Steel's pension scheme have come under fire from the lifeboat scheme, which protects pensions when companies fail. The Pension Protection Fund warned that making specific arrangements in an attempt to save the Port Talbot business and protect 11,000 jobs in the steel industry risked setting a precedent for other pension schemes to push for rule changes. - 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