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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 ahead of BoE's financial stability report London stocks opened in the red on Tuesday ahead of services data and the Bank of England's financial stability report, as worries about Brexit continued to weigh on investors' minds.
Markit services PMI at 0930 BST and it's expected to show a decline to 52.7 in June from 53.5 the previous month. The Financial Stability Report is due at 1030 BST.
CMC Markets' Michael Hewson said: "The shock fall in yesterday's UK construction PMI for June to seven year lows of 46 was a big surprise and doesn't bode well for the sector heading into Q3, and while manufacturing improved, the main focus today rests even more importantly on the UK services sector which has borne the weight on its shoulders for the past few years of the UK's economic outperformance.
"We need to see a decent June number here or we could well see a situation that sees the UK economy potentially stagnate in Q2. A slow down from 53.5 to 52.8 is expected ahead of the latest Bank of England financial stability report."
The financial stability report at 1030 BST is expected to reveal further details of post-Brexit risks to the UK economy.
Elsewhere, Chinese Caixin services PMI for June rose to 52.7 from 51.2, marking the fastest increase in 11 months.
In corporate news, housebuilder Persimmon slumped even as it said it was still too soon to judge the effect of Brexit on the new homes market, adding that trading through the first half had been "strong".
"We believe that market fundamentals remain strong, supported by long term unfulfilled demand, and that the UK housing market will continue to provide good opportunities for those companies with the right strategic focus and the balance sheet strength to navigate future changes in trading conditions."
Fellow housebuilders Taylor Wimpey and Barratt Developments were also in the red.
Imagination Technologies dropped as it swung to a loss for the year ended 30 April as revenue fell amid a significant restructuring of the business. |
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| Market Movers
FTSE 100 (UKX) 6,503.28 -0.29%
FTSE 250 (MCX) 15,890.73 -1.40%
techMARK (TASX) 3,197.29 -0.30%
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 2,520.00p 1.25%
TUI AG Reg Shs (DI) (TUI) 903.50p 0.89%
Burberry Group (BRBY) 1,158.00p 0.87%
British American Tobacco (BATS) 4,947.00p 0.87%
Diageo (DGE) 2,117.50p 0.79%
Reckitt Benckiser Group (RB.) 7,567.00p 0.76%
Paddy Power Betfair (PPB) 8,025.00p 0.63%
AstraZeneca (AZN) 4,499.00p 0.56%
Unilever (ULVR) 3,616.50p 0.56%
ARM Holdings (ARM) 1,121.00p 0.54%
FTSE 100 - Fallers
Land Securities Group (LAND) 930.00p -5.10%
Whitbread (WTB) 3,339.00p -4.68%
Barratt Developments (BDEV) 370.60p -4.56%
Legal & General Group (LGEN) 178.60p -4.49%
Persimmon (PSN) 1,375.00p -4.18%
British Land Company (BLND) 541.50p -4.16%
Taylor Wimpey (TW.) 125.10p -4.14%
Kingfisher (KGF) 306.50p -4.10%
Fresnillo (FRES) 1,819.00p -4.01%
Schroders (SDR) 2,260.00p -3.79%
FTSE 250 - Risers
CLS Holdings (CLI) 1,405.00p 3.46%
Barr (A.G.) (BAG) 490.00p 2.40%
Hochschild Mining (HOC) 206.80p 1.92%
Caledonia Investments (CLDN) 2,300.00p 1.91%
JPMorgan Emerging Markets Inv Trust (JMG) 647.00p 1.73%
Millennium & Copthorne Hotels (MLC) 401.20p 1.44%
Bankers Inv Trust (BNKR) 602.00p 0.84%
NB Global Floating Rate Income Fund Ltd GBP (NBLS) 91.80p 0.82%
Ultra Electronics Holdings (ULE) 1,738.00p 0.81%
John Laing Infrastructure Fund Ltd (JLIF) 129.50p 0.78%
FTSE 250 - Fallers
Pets at Home Group (PETS) 214.00p -6.96%
Ibstock (IBST) 123.90p -6.77%
Aberdeen Asset Management (ADN) 267.10p -6.54%
F&C Commercial Property Trust Ltd. (FCPT) 103.60p -5.90%
Amec Foster Wheeler (AMFW) 461.20p -5.34%
OneSavings Bank (OSB) 193.10p -5.25%
Card Factory (CARD) 306.60p -5.14%
UK Commercial Property Trust (UKCM) 67.80p -4.84%
Great Portland Estates (GPOR) 571.00p -4.59% |
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| | UK Event Calendar | | Tuesday 05 July
INTERIM DIVIDEND PAYMENT DATE
Marston's
QUARTERLY EX-DIVIDEND DATE
JP Morgan Chase & Co
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Retail Sales (EU) (10:00)
FINALS
Imagination Technologies Group, Polar Capital Technology Trust, Solid State
SPECIAL DIVIDEND PAYMENT DATE
Small Companies Dividend Trust
EGMS
B.S.D Crown Ltd (DI)
AGMS
Aberdeen Japan Investment Trust , B.S.D Crown Ltd (DI), Chariot Oil & Gas Ltd., Daily Internet , Northern Investors Co, Software Radio Technology, Software Radio Technology, Young & Co's Brewery 'A' Shares
TRADING ANNOUNCEMENTS
Carillion, Persimmon, The Gym Group
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:10)
FINAL DIVIDEND PAYMENT DATE
Staffline Group
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks fall as concerns about Brexit return European stocks fell in early trade as concerns about the impact of Brexit weighed on investors' minds ahead of the Bank of England's financial stability report.
At 0900 BST, the benchmark Stoxx Europe 600 index was down 1.1%, France's CAC 40 was off 0.9% and Germany's DAX was off 0.8%.
Mike van Dulken, head of research at Accendo Markets, said the financial stability report could detail the financial risks faced by the UK following the recent Brexit vote. "We may also get details about how it plans to ease the capital burden on banks, to keep financing alive for businesses and households and the economic consumer and business confidence ball up in the air. The press conference by Governor Carney will be a much-watched event for any hints about what stimulus is coming our way this summer."
In oil markets, West Texas Intermediate was down 1.9% at $48.04 a barrel and Brent crude was off 1.4% at $49.41.
On the corporate front, Italian banks were under pressure again, with Banca Monte dei Paschi di Siena sharply lower amid reports Italy is considering a capital plan for the bank that includes selling new convertible bonds to the government and injecting at least €3bn.
Housebuilder Persimmon was under the cosh despite reporting strong first-half trading, as it said it was too early to judge the impact of Brexit.
Budget airline Ryanair flew higher after reporting a 11% increase in traffic in June.
Data just out from Markit showed the final eurozone composite output index came in at 53.1 in June, down from the flash estimate of 52.8 but in line with the May reading. |
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