| | | | | | | GET SHARES ONLINE, FREE FOR ONE MONTH Don’t let your money be hurt by Brexit. Let SHARES guide you through the turbulent months ahead, and show you how to make informed investments that make the most of your money. Click here | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks rise ahead of PMIs, Yellen speech London stocks rose on Tuesday as investors awaited manufacturing data and looked ahead to a key speech by Federal Reserve chair Janet Yellen.
At 0821 BST the FTSE 100 rose 0.54% to 6,864.99 points.
First up, Markit releases its eurozone manufacturing and services purchasing managers' indexes at 0900 BST. The US will follow suit in the afternoon with its manufacturing PMI from Markit at 1445 BST.
"The eurozone figures will be of particular interest as we continue to seek evidence of the Brexit impact on the UK's largest trading partner," said Craig Erlam, senior market analyst at Oanda.
"While it's too early to get this from the hard data, releases like the PMIs are a good source of early insight into how the region will respond."
On the data front, the US will also see the release of US new home sales figures at 1500 BST.
With little else on the agenda to preoccupy traders, many are turning their focus to Yellen's speech in Jackson Hole on Friday for guidance on monetary policy.
Rabobank said it expects the Fed Chair to make it clear that the risk for a 2016 interest rate hike remains firmly on the table.
"As it stands it is our view that the Fed will still have sufficient reason to tighten in December - though the risks to this view are sizeable."
Among corporate stocks, Persimmon shares gained after reporting a better-than-expected jump in first half pre-tax profit as the housebuilder shrugged off Brexit uncertainty. Pre-tax profit rose 29% to £352.3m in the six months to 30 June on a 12% increase in revenue to £1.49bn. Analysts at Deutsche Bank had anticipated a 26% increase in pre-tax profits to £345m.
Hansteen Holdings was on the front foot as the property investor posted a drop in first half pre-tax profit but an increase in net asset value per share and earnings per share.
Pre-tax profit fell to £54.8m in the six months to 30 June from £103.7m the previous year with the company blaming the "high property revaluation in the first half of 2015 that was not repeated in the first half of 2016".
Diluted EPRA earnings per share were 3.4p, up from 0.4p last year. Adjusted EPRA NAV per share increased 8.4% to 120.5p from the end of 2015. Hansteen said it benefitted from a weaker pound against the euro following Britain's vote to leave the European Union.
Rank Group surged as it reported an increase in full year pre-tax profit and revenues and said it sees no likely impact from the Brexit vote.
The company, which operates Grosvenor Casinos and Mecca bingo halls, said adjusted pre-tax profit for the year to the end of June ticked up 4% to £77.4m while group revenue nudged up 2% to £753m. Analysts had been expecting revenue of about £756m. The company, which recently withdrew its bid for William Hill with 888 Holdings, said it saw continued strong digital revenue growth of 11%. |
| | Shares LIVE | | Come to Shares LIVE and connect with top experts who will share their in-depth knowledge of investing, trading and saving plus meet directors from fast growing listed companies. |
| Market Movers
FTSE 100 (UKX) 6,859.35 0.45%
FTSE 250 (MCX) 17,947.73 0.42%
techMARK (TASX) 3,524.19 0.39%
FTSE 100 - Risers
Persimmon (PSN) 1,850.00p 3.12%
BHP Billiton (BLT) 1,054.50p 2.08%
Taylor Wimpey (TW.) 161.70p 1.89%
Glencore (GLEN) 187.70p 1.82%
Barratt Developments (BDEV) 471.30p 1.68%
Royal Bank of Scotland Group (RBS) 190.90p 1.43%
Berkeley Group Holdings (The) (BKG) 2,586.00p 1.41%
Anglo American (AAL) 846.40p 1.37%
Rio Tinto (RIO) 2,419.00p 1.36%
Standard Life (SL.) 354.20p 1.23%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 2,285.00p -1.17%
Morrison (Wm) Supermarkets (MRW) 195.80p -0.51%
National Grid (NG.) 1,077.50p -0.32%
CRH (CRH) 2,501.00p -0.28%
Mediclinic International (MDC) 1,084.00p -0.18%
Imperial Brands (IMB) 4,026.50p -0.17%
Provident Financial (PFG) 2,912.00p -0.14%
Severn Trent (SVT) 2,418.00p -0.04%
BP (BP.) 427.75p -0.04%
InterContinental Hotels Group (IHG) 3,329.00p -0.03%
FTSE 250 - Risers
JRP Group (JRP) 99.45p 12.69%
International Personal Finance (IPF) 277.70p 2.97%
Rank Group (RNK) 227.60p 2.75%
Caledonia Investments (CLDN) 2,435.00p 2.66%
Bellway (BWY) 2,276.00p 2.38%
Rathbone Brothers (RAT) 1,865.00p 2.30%
John Laing Group (JLG) 239.60p 2.17%
Crest Nicholson Holdings (CRST) 465.60p 2.15%
Hochschild Mining (HOC) 304.80p 2.04%
Kaz Minerals (KAZ) 193.60p 1.95%
FTSE 250 - Fallers
IP Group (IPO) 187.30p -2.80%
F&C Commercial Property Trust Ltd. (FCPT) 121.00p -2.42%
Brewin Dolphin Holdings (BRW) 263.40p -2.30%
Redefine International (RDI) 43.25p -2.17%
Evraz (EVR) 141.60p -1.39%
Euromoney Institutional Investor (ERM) 1,035.00p -1.33%
Drax Group (DRX) 303.00p -1.17%
Tullow Oil (TLW) 227.50p -1.13%
Ladbrokes (LAD) 156.20p -1.08% |
| | UK Event Calendar | | Tuesday August 23
INTERIMS
Cape, Eurocell , Hostelworld Group , Persimmon
INTERIM DIVIDEND PAYMENT DATE
Dewhurst
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Durable Goods Orders (US) (13:30)
New Homes Sales (US) (15:00)
Q2
Hostelworld Group
FINALS
Rank Group
AGMS
Northern Bear, Redt Energy
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
FINAL DIVIDEND PAYMENT DATE
Blue Planet Investment Trust
|
| | It's been an incredible year for gold! | | The previous metal has rallied more than 25% since January. But how much higher will it go? Download your FREE report now |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher; oil prices under pressure again European stocks edged up in early trade, recovering a touch from the previous session's losses as investors continued to eye this week's speech by Federal Reserve Chair Janet Yellen at Jackson Hole.
At 0840 BST, the benchmark Stoxx Europe 600 index was up 0.4%, while Germany's DAX and France's CAC 40 were 0.3% firmer.
At the same time, oil prices remained under pressure as hopes of a production freeze faded and amid reports that Iraq - OPEC's second-biggest producer - was set to ramp up its exports. West Texas Intermediate was down 3% at $47.05 per barrel and Brent crude was 0.7% lower at $48.83.
Goldman Sachs stuck to its forecast that oil would remain at $45-$50 a barrel through next summer. "We reiterate our view that the oil price and fundamental recovery remains fragile," the bank said.
Markus Huber, a trader at City of London Markets, said: "European shares are showing early signs of a rebound this morning after yesterday's disappointing start to the new trading week. Mixed markets overnight in Asia and the US are providing stocks with a bit of a lift this morning, with the main topic currently dominating stocks still the timing of a potential US interest rate hike as early as September.
"Whilst many still consider a hike in US interest rates in September and generally ahead of the Presidential election in November highly unlikely it appears that some FOMC members like already in previous years around the same time in August and September feel the need again to spread uncertainty but probably in the end will fail to deliver."
In corporate news, housebuilder Persimmon rallied after reporting a better-than-expected jump in first half pre-tax profit of 29% to £352.3m.
UniCredit was also in the black following a report that the chief executive of Polish insurer PZU was heading to Milan for talks to buy Bank Pekao from the Italian bank.
BHP Billiton got a boost as Jefferies lifted its recommendation on the stock to 'buy' from 'hold'.
Investors will eye the release of Eurozone PMI surveys at 0900 BST. |
| | Learn how to become an Angel Investor from leading Angels | | Business Agent, Bond Dickinson and Angels Den would like to invite you to attend our ‘Become an Angel’ lunchtime masterclass. The Become an Angel masterclass is designed to provide Angels with valuable information in order to allow them to make informed and educated decisions when it comes to investing. It also allows Angel Investors to network with other Angels and thought leaders in the market. This class will cover the basics of investing by highlighting what to look for in businesses and identifying the best practices for making investments. Click Here to Register |
| | US Market Report | | US close: Stocks end little changed amid weak oil prices US stocks ended little changed on Monday amid declining oil prices, as investors mulled over hawkish remarks from Federal Reserve policymakers ahead of a speech by chair Janet Yellen later this week.
The Dow Jones Industrial Average and the S&P 500 closed down 0.1%, while the Nasdaq eked out a 0.1% gain.
Meanwhile, oil prices settled sharply lower following seven straight sessions of gains amid news that Iraq - OPEC's second-biggest oil producer - will boost its oil exports by 5%. A stronger dollar and a jump in the Baker Hughes US oil-rig count also weighed on prices.
West Texas Intermediate crude was down 3% at $47.05 per barrel and Brent crude was off 3.4% at $49.16.
Joshua Mahony, market analyst at IG, said: "Much of the week will likely be gearing up for the main event, which comes in the form of the annual Jackson Hole meeting, hosted by the Kansas Fed. Crucially, Friday will see Janet Yellen take the same stand upon which Ben Bernanke announced quantitative easing back in 2012, with markets hoping for another game changing nugget on Friday.
"The recent deterioration in the greenback means that many are looking for a dollar bounce back, which coupled with the speculation of Friday's meeting, means that dollar volatility is likely to be heightened this week."
Oanda's Craig Erlam said Yellen's speech would be a great opportunity to send a clear and concise message to investors.
"The markets currently have March priced in for the next rate hike and if Yellen is seriously determined to move earlier, she must take advantage of Friday's opportunity to drive that message home," he said.
Her speech at the Jackson Hole symposium on Friday will follow hawkish comments from several Federal Reserve officials last week. On Sunday, Fed Vice Chairman Stanley Fischer gave an upbeat assessment of the US economy, which was seen to suggest an interest rate hike was possible this year. His statement pushed the dollar higher.
Corporate news was thin on the ground, but biotech firm Medivation surged after agreeing to be bought by pharmaceutical giant Pfizer for about $14bn. Pfizer ended the day a touch weaker.
S&P 500 - Risers
Regeneron Pharmaceuticals Inc. (REGN) $418.61 +3.54%
Alexion Pharmaceuticals Inc. (ALXN) $136.53 +3.33%
Vertex Pharmaceuticals Inc. (VRTX) $100.96 +3.01%
CF Industries Holdings Inc. (CF) $23.69 +2.91%
United States Steel Corp. (X) $20.95 +2.80%
Whole Foods Market Inc. (WFM) $31.01 +2.41%
Hormel Foods Corp. (HRL) $39.51 +2.20%
Mattel Inc. (MAT) $33.55 +2.07%
Chipotle Mexican Grill Inc. (CMG) $396.04 +1.94%
Vulcan Materials Co. (VMC) $118.91 +1.89%
S&P 500 - Fallers
Marathon Oil Corp. (MRO) $15.64 -6.90%
Viacom Inc. Class B (VIAB) $41.74 -4.02%
Halliburton Co. (HAL) $45.08 -3.78%
Transocean Ltd. (RIG) $10.10 -3.72%
ONEOK Inc. (OKE) $48.07 -3.30%
Murphy Oil Corp. (MUR) $29.07 -3.29%
Newfield Exploration Co (NFX) $45.04 -2.93%
Helmerich & Payne Inc. (HP) $62.58 -2.58%
Diamond Offshore Drilling Inc. (DO) $19.28 -2.58%
Kohls Corp. (KSS) $44.26 -2.55%
Dow Jones I.A - Risers
Visa Inc. (V) $81.06 +0.73%
Boeing Co. (BA) $134.99 +0.41%
Cisco Systems Inc. (CSCO) $30.63 +0.36%
McDonald's Corp. (MCD) $115.42 +0.36%
Intel Corp. (INTC) $35.36 +0.34%
Merck & Co. Inc. (MRK) $63.55 +0.30%
E.I. du Pont de Nemours and Co. (DD) $69.95 +0.24%
General Electric Co. (GE) $31.32 +0.22%
Exxon Mobil Corp. (XOM) $87.99 +0.22%
Verizon Communications Inc. (VZ) $52.55 +0.19%
Dow Jones I.A - Fallers
Apple Inc. (AAPL) $108.51 -0.78%
Johnson & Johnson (JNJ) $119.13 -0.66%
United Technologies Corp. (UTX) $108.50 -0.59%
Walt Disney Co. (DIS) $95.87 -0.54%
Procter & Gamble Co. (PG) $86.85 -0.53%
Travelers Company Inc. (TRV) $116.95 -0.44%
Coca-Cola Co. (KO) $43.74 -0.41%
Nike Inc. (NKE) $58.66 -0.41%
Pfizer Inc. (PFE) $34.84 -0.40%
Chevron Corp. (CVX) $101.94 -0.37%
Nasdaq 100 - Risers
Incyte Corp. (INCY) $81.98 +7.71%
Biomarin Pharmaceutical Inc. (BMRN) $98.17 +6.72%
Regeneron Pharmaceuticals Inc. (REGN) $418.61 +3.54%
Alexion Pharmaceuticals Inc. (ALXN) $136.53 +3.33%
Vertex Pharmaceuticals Inc. (VRTX) $100.96 +3.01%
Whole Foods Market Inc. (WFM) $31.01 +2.41%
Mattel Inc. (MAT) $33.55 +2.07%
Celgene Corp. (CELG) $114.20 +1.82%
Starbucks Corp. (SBUX) $55.85 +1.66%
Illumina Inc. (ILMN) $173.75 +1.21%
Nasdaq 100 - Fallers
Viacom Inc. Class B (VIAB) $41.74 -4.02%
Baidu Inc. (BIDU) $173.85 -2.07%
Applied Materials Inc. (AMAT) $29.15 -1.65%
Liberty Media Corporation - Series C (LMCK) $21.44 -1.61%
Mylan Inc. (MYL) $47.90 -1.56%
Seagate Technology Plc (STX) $31.87 -1.42%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $270.70 -1.40%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $37.68 -1.39%
American Airlines Group (AAL) $36.00 -1.34% |
| | 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 | | Tuesday newspaper round-up: British household debt, gender pay gap, China policy Britain is facing a debt time bomb with more than 1.5 million households barely able to cover the interest payments on their personal loans, according to the TUC. The problem has ballooned in the past three years as families have taken on £48 billion more non-mortgage debt while disposable incomes fell. - The Times
Women earn 18% less than men on average, according to new research that highlights the challenge facing Theresa May in closing Britain's stubbornly wide gender pay gap. The Institute for Fiscal Studies (IFS) also found that the gap balloons after women have children, raising the prospect that mothers are missing out on pay rises and promotions. That is echoed by a separate report on Tuesday suggesting that male managers are 40% more likely than female managers to be promoted. - The Guardian
China is at mounting risk of a Japanese-style "liquidity trap" as monetary policy loses traction and the economy approaches credit exhaustion, forcing a shift towards Keynesian fiscal stimulus. Officials at the Chinese People's Bank (PBOC) have begun to call for a fundamental change in strategy, warning that interest rate cuts have become an increasingly blunt tool. - The Telegraph
BHS's 88-year run on the High Street will come to an end this week when the final stores close their doors. The last 35 BHS shops are expected to close after the firm went into administration in April. - Daily Mail | | |
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