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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 fall as China inflation slows London stocks declined on Thursday as China inflation slowed more than expected in May.
China's consumer price index rose 2.0% year-on-year in May, down from 2.3% growth the previous month, as food prices fell. Analysts had pencilled in a 2.2% increase.
The producer price index remained stuck in negative territory for the 51st straight month, falling 2.8% in May from a year ago, compared to April's 3.4% dip and analysts' estimates for a 3.2% decline.
Capital Economics said it expects consumer price inflation to remain near current levels for the rest of the year.
"Admittedly, we expect non-food inflation to rise as the drop in oil prices during the second half of 2015 provides a weaker base for comparison," said Julian Evans-Pritchard, China economist at Capital Economics.
"In contrast, we anticipate a further recovery in producer price inflation in the coming quarters as commodity price deflation continues to ease, with a return to positive territory by the end of year now looking likely."
Still to come, UK trade data at 0930 BST, US initial jobless claims at 1330 BST and US wholesale inventories at 1500 BST.
Meanwhile, oil prices will continue to be monitored after Brent and West Texas Intermediate closed above the $50 a barrel mark on Wednesday following government data which showed a drop in US weekly crude inventories.
The Energy Information Administration said crude inventories fell 3.2 million barrels in the week to June 3, compared with analysts' expectations for a decrease of 2.7 million barrels.
At 0853 BST Brent crude fell 0.21% to $52.40 per barrel and West Texas Intermediate increased 0.07% to $51.27 per barrel.
In company news, Home Retail Group gained after saying first quarter sales at its Argos chain grew by 2.6% to £868m with net new space contributing 2.5%, mainly as a result of store openings in the previous financial year. Like-for-like sales grew by 0.1%, although the company said the "cannibalisation impact from the new space added in the previous financial year was around 1% and therefore Argos' underlying like-for-like sales increased by approximately 1%".
Vodafone slid after it confirmed local rumours surrounding its New Zealand operation, announcing it was merging with local subscription television provider Sky to create an integrated telecommunications and media group. Sky shares advanced.
Housebuilders were in the red after the Royal Institution of Chartered Surveyors said house prices are expected to fall over the next few months amid uncertainty over the European Union referendum and higher taxes on buy-to-let and second home purchases. Taylor Wimpey, Berkeley Group and Bellway slumped.
Essentra, supplier of speciality plastic and packaging components, dropped after warning of lower full year adjusted operating profit amid challenging market conditions in filter products and project delays. |
| Market Movers
FTSE 100 (UKX) 6,253.17 -0.77%
FTSE 250 (MCX) 17,083.30 -0.55%
techMARK (TASX) 3,102.93 -0.77%
FTSE 100 - Risers
Sainsbury (J) (SBRY) 252.90p 0.92%
Paddy Power Betfair (PPB) 9,430.00p 0.59%
Sky (SKY) 933.00p 0.48%
BT Group (BT.A) 424.00p 0.45%
Tesco (TSCO) 161.05p 0.31%
Informa (INF) 669.00p 0.22%
Marks & Spencer Group (MKS) 376.10p 0.16%
Morrison (Wm) Supermarkets (MRW) 188.90p 0.16%
Rexam (REX) 638.00p 0.16%
Carnival (CCL) 3,356.00p 0.15%
FTSE 100 - Fallers
Vodafone Group (VOD) 221.05p -4.31%
Antofagasta (ANTO) 433.20p -4.10%
Taylor Wimpey (TW.) 182.80p -3.33%
Berkeley Group Holdings (The) (BKG) 3,132.00p -3.30%
Johnson Matthey (JMAT) 2,985.00p -3.18%
Rolls-Royce Holdings (RR.) 593.00p -3.03%
Anglo American (AAL) 682.60p -2.14%
Persimmon (PSN) 1,982.00p -2.08%
Barratt Developments (BDEV) 555.50p -2.03%
BHP Billiton (BLT) 884.60p -1.82%
FTSE 250 - Risers
Kaz Minerals (KAZ) 163.30p 5.35%
Indivior (INDV) 218.20p 3.90%
Aveva Group (AVV) 1,725.00p 1.95%
Ophir Energy (OPHR) 76.05p 1.88%
RPC Group (RPC) 829.50p 1.72%
Auto Trader Group (AUTO) 409.00p 1.61%
Acacia Mining (ACA) 353.90p 1.40%
IP Group (IPO) 168.60p 1.38%
DFS Furniture (DFS) 297.00p 1.33%
Aberforth Smaller Companies Trust (ASL) 1,057.00p 1.15%
FTSE 250 - Fallers
Essentra (ESNT) 601.00p -27.59%
esure Group (ESUR) 275.00p -4.35%
B&M European Value Retail S.A. (DI) (BME) 282.60p -4.17%
Petrofac Ltd. (PFC) 757.00p -3.32%
Bellway (BWY) 2,607.00p -2.47%
Booker Group (BOK) 176.00p -2.28%
Cineworld Group (CINE) 560.50p -2.01%
G4S (GFS) 186.80p -1.99%
Allied Minds (ALM) 328.00p -1.97% |
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| | UK Event Calendar | | Thursday 09 June
INTERIMS
Private & Commercial Finance Group, Watkin Jones
INTERIM EX-DIVIDEND DATE
Artemis VCT, Aviva 8 3/4% Cumulative Irrd Preference 1, British Empire Trust, Brunner Investment 5% Prf, Connect Group, Daily Mail and General Trust A (Non.V), General Accident 'A', Hargreave Hale AIM VCT 1, Income & Growth VCT , ITE Group, JPMorgan Indian Investment Trust, Lakehouse, Octopus Eclipse VCT 1, Schroder UK Mid Cap Fund, Shaftesbury, Topps Tiles, Urban&Civic , Victrex plc
QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, Brunner Inv Trust, Ediston Property Investment Company, Regional REIT Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Continuing Claims (US) (13:30)
Current Account (GER) (07:00)
Initial Jobless Claims (US) (13:30)
Wholesales Inventories (US) (15:00)
FINALS
Auto Trader Group , First Property Group, Flybe Group, Volex, Volex
SPECIAL DIVIDEND PAYMENT DATE
Netplay TV
SPECIAL EX-DIVIDEND PAYMENT DATE
Artemis VCT, B&M European Value Retail S.A. (DI), Helios Underwriting, Perpetual Income & Growth Inv Trust
AGMS
AA , Atlas Mara Limited (DI), Avocet Mining, BlackRock Smaller Companies Trust, Dignity, London & Associated Properties, London & Associated Properties, Martin Currie Global Portfolio Trust, Michael Page International, Northacre, Robert Walters, Scisys, Soco International
TRADING ANNOUNCEMENTS
PZ Cussons
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
FINAL DIVIDEND PAYMENT DATE
Legal & General Group, Macfarlane Group, Netplay TV, Seplat Petroleum Development Company (DI)
FINAL EX-DIVIDEND DATE
Aberdeen Japan Investment Trust , Acal, Air Partner, Anglo-Eastern Plantations, Arrow Global Group, Booker Group, Brammer, Camellia, Capital Gearing Trust, Christie Group, Cineworld Group, Edinburgh Inv Trust, Helios Underwriting, Hunting, Johnson Matthey, Judges Scientific, Learning Technologies Group , London Security, M&C Saatchi, Restore, Scottish Mortgage Inv Trust, Vodafone Group, Weiss Korea Opportunity Fund Ltd, WPP, Young & Co's Brewery 'A' Shares
|
| | 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 |  | | | | | | Essentra issues profit warning Specialist plastic, fibre and foam maker Essentra issued a profit warning on Thursday, citing a tough market in filter products and short-term operational problems in the US and UK from its healthcare and personal packaging unit.
The company said adjusted operating profit was now expected to be in the range of £155 - £165m against £171.5m in 2015, with second half profit stronger than H1 2016 and "directionally consistent" with the second half of 2015.
Full year revenue is anticipated to be broadly unchanged against 2015's £1.1bn, Essentra added.
It said conditions in filter products have deteriorated due to more challenging market backdrop, and "certain large projects either not being commercialised or being deferred". |
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| | US Market Report | | US close: Markets finish higher as oil rockets US markets closed higher on Wednesday, led by industrial and materials stocks, with the Dow Jones and the S&P 500 edging close to their 52-week intraday highs seen last summer.
At the closing bell, the Dow Jones Industrial Average had added 0.37% to 18,005.05, the S&P 500 closed up 0.33% at 2,119.12, and the Nasdaq Composite finished 0.26% higher at 4,974.64.
The Dow's close was its first above the psychologically important 18,000 point level since 27 April, with UnitedHealth the largest contributor to the gains.
Industrials and materials led the risers on the S&P 500, which closed at a new high for the calendar year so far and just 0.64% lower than its 52-week intraday high reached last July.
The Dow was 1% below its 52-week intraday high, which it achieved last June.
Transports were up half a percent on the Dow, as they clung to gains of more than 5% for the year to date.
The Nasdaq Composite's gains were helped by rises in shares of Alphabet, while Apple closed slightly lower.
"Perhaps investors are hoping and seeing opportunities for revenue growth and earnings growth," said BMO Private Bank chief investment officer Jack Ablin.
"The rationale for substantial gains from here seems kind of tenuous unless we can get a ramp up in revenue."
Crude prices rose during US trading, with West Texas Intermediate last up 2.25% at $51.52 and Brent crude up 2.43% at $52.72 per barrel.
Fresh data from the Energy Information Administration showed a 3.2 million barrel draw in crude as well as increases in gasoline and distillate stockpiles.
The American Petroleum Institute also showed a larger-than-expected US crude stockpile draw late on Tuesday.
On the economic front, the Job Openings and Labor Turnover Survey showed there were 5.8 million job openings at the end of April.
The World Bank downgraded its global growth forecast for 2016 to 2.4%, from its previous 2.9% forecast posted in January.
S&P 500 - Risers
United States Steel Corp. (X) $17.70 +11.11%
Chesapeake Energy Corp. (CHK) $4.97 +6.42%
Signet Jewelers Ltd (SIG) $89.31 +3.97%
Brown Forman Corp. Class B (BF.B) $100.80 +3.54%
Under Armour Inc. Class A (UA) $39.04 +3.36%
Freeport-McMoRan Inc (FCX) $11.58 +3.02%
PPG Industries Inc. (PPG) $110.95 +2.95%
General Growth Properties Inc. (GGP) $27.52 +2.92%
Nucor Corp. (NUE) $51.76 +2.76%
Norfolk Southern Corp. (NSC) $85.95 +2.64%
S&P 500 - Fallers
Southwestern Energy Co. (SWN) $14.12 -7.17%
Range Resources Corp. (RRC) $44.47 -3.79%
Mosaic Company (MOS) $28.02 -3.48%
Micron Technology Inc. (MU) $12.58 -3.23%
Devon Energy Corp. (DVN) $37.58 -3.04%
F5 Networks Inc. (FFIV) $120.35 -2.90%
CF Industries Holdings Inc. (CF) $31.08 -2.75%
H&R Block Inc. (HRB) $21.01 -2.37%
Valero Energy Corp. (VLO) $54.39 -2.25%
AbbVie Inc (ABBV) $61.73 -2.17%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $140.40 +2.53%
Caterpillar Inc. (CAT) $78.11 +1.69%
Visa Inc. (V) $81.65 +1.30%
Pfizer Inc. (PFE) $35.25 +1.18%
Merck & Co. Inc. (MRK) $57.62 +1.09%
Nike Inc. (NKE) $54.12 +1.06%
Boeing Co. (BA) $133.00 +0.81%
United Technologies Corp. (UTX) $102.07 +0.61%
General Electric Co. (GE) $30.31 +0.56%
American Express Co. (AXP) $66.26 +0.56%
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $68.37 -0.54%
Verizon Communications Inc. (VZ) $51.52 -0.44%
Goldman Sachs Group Inc. (GS) $154.64 -0.34%
Walt Disney Co. (DIS) $98.04 -0.32%
Travelers Company Inc. (TRV) $114.22 -0.31%
Home Depot Inc. (HD) $129.59 -0.25%
Chevron Corp. (CVX) $103.09 -0.22%
Microsoft Corp. (MSFT) $52.04 -0.12%
Apple Inc. (AAPL) $98.94 -0.09%
Nasdaq 100 - Risers
Henry Schein Inc. (HSIC) $179.14 +1.85%
Alphabet Inc. Class C (GOOG) $728.28 +1.62%
Alphabet Inc. Class A (GOOGL) $742.93 +1.62%
Cognizant Technology Solutions Corp. (CTSH) $61.62 +1.47%
Tesla Motors Inc (TSLA) $235.52 +1.37%
Express Scripts Holding Co (ESRX) $76.86 +1.34%
PACCAR Inc. (PCAR) $56.90 +1.28%
Intuitive Surgical Inc. (ISRG) $642.88 +1.10%
CA Inc. (CA) $33.09 +1.07%
Charter Communications Inc. (CHTR) $223.08 +1.03%
Nasdaq 100 - Fallers
Ctrip.Com International Ltd. Ads (CTRP) $42.00 -5.19%
Vodafone Group Plc ADS (VOD) $32.95 -3.60%
JD.com, Inc. (JD) $21.24 -3.50%
Micron Technology Inc. (MU) $12.58 -3.23%
Netflix Inc. (NFLX) $97.86 -2.03%
Tractor Supply Company (TSCO) $94.39 -1.99%
Liberty Media Corporation - Class A (LMCA) $19.78 -1.67%
Biomarin Pharmaceutical Inc. (BMRN) $84.10 -1.64%
Seagate Technology Plc (STX) $24.25 -1.62% |
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| | Newspaper Round Up | | Thursday newspaper round-up: JCB, Amazon, house prices One of Britain's leading businessmen has told his 6,000 employees in the UK that there is "very little to fear" from leaving the European Union and he is confident that the country can "stand on its own two feet". In the first such letter from a Brexit supporter to his workforce, Lord Bamford, chairman of JCB, set out the case for leaving the bloc, saying that it was of "diminishing economic importance". - The Times
Margaret Thatcher's defence secretary during the Falklands War has suspended his membership of the Conservative Party because of David Cameron's "tirade of fear" during the EU referendum campaign. Sir John Nott, who served in the Government between 1979 and 1983, has warned that Mr Cameron and George Osborne have "poisoned the debate" with their "frenetic" warnings about the consequences of a Brexit. - The Telegraph
Amazon is stepping up its battle against British supermarkets with the launch of fresh food deliveries on Thursday. The online specialist's Amazon Fresh service will offer more than 130,000 groceries to homes in north and east London, including thousands of fresh produce, dairy and bakery items that the company has not previously sold in the UK. - The Guardian
House prices are heading for a short-term dip amid uncertainty over the EU referendum outcome, according to surveyors. For the first time since 2012, more surveyors expect prices to fall in the next three months than those predicting an increase, the Royal Institution of Chartered Surveyors (Rics) said. - The Mirror
Twenty million Vodafone's customers in the UK are being urged to look closely at their bills following a huge rise reported problems. Thousands of new complaints have been received and it is suspected there has been a massive problem with IT systems at the telecoms giant. The major gripe has been with billing errors after a new system was introduced at the end of last year. - The Daily Mail | | |
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