| | | | | | | 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 slip at start of trading Stocks started the session lower on Wednesday following a mixed session in Asia and amid weak oil prices.
Also weighing on shares was renewed Fedspeak overnight, as Dallas Fed governor Robert Kaplan reiterated his stance that another rate hike could be justified if the US labour market were to continue improving.
As of 0820 BST, the FTSE 100 was trading 17 points lower at 6,852 as front month Brent crude futures slid 1.7% to $49.13 per barrel on the ICE.
Weighing on sentiment too, a 6.2-magnitude earthquake hit central Italy early on Wednesday morning.
On the macroeconomic front, data on BBA loans for house purchase is due at 0930 BST. In the US, existing home sales are at 1500 BST.
The Shanghai Stock Exchange´s Composite Index closed 0.12% lower to 3,085.88.
Naeem Aslam at Think Markets said: "Many home buyers are refraining from putting their hard-earned money into the UK's property sector, and several hedge funds which are purely focused on the UK property market have fuelled those concerns when they made their own headlines by restricting access and outlining new policies.
"The data could show further deterioration and on the back of this, we can see some more pressure building up for builders and estate agents."
In corporate news, AstraZeneca has agreed to sell its antibiotics business to US giant Pfizer for staged payments amounting to $1.6bn plus recurring, double-digit royalties on future sales.
The FTSE 100 group said the sale would reinforces its focus on developing medicines in its three main therapy areas, while realising value from what it said was a strong portfolio of established and late-stage antibiotics through Pfizer's commercialisation and development abilities.
Glencore reported a 13% drop in operating profits at the half-year stage in terms of adjusted earnings before interest, taxes and depreciation, while net income was off 66% to $300m. Capital expenditures were more than halved to $1.57bn. Chief Ivan Glassenberg said the company "remained mindful" that underlying markets continue to be volatile.
Nonetheless, Glassenberg was confident the firm could achieve even lower than previously indicated net funding and net debt levels by the end of this year. In parallel, the commodity trader´s finance chief held out the prospect of a return to dividend payments in 2016.
Advertising giant WPP posted a rise in interim revenue but a drop in pre-tax profit as writedowns took their toll.
Profit before tax was down 40.1% to £425m, or 45.5% lower at constant currency, mostly reflecting net exceptional writedowns of £122m. This was principally on the investment in comScore, in comparison to net exceptional gains of £203m the year before. |
| | 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. |
| | UK Event Calendar | | Wednesday August 24
INTERIMS
Atlas Mara Limited (DI), Candover Investments, Carillion, Costain Group, Glencore , Gresham Computing, Headlam Group, Hikma Pharmaceuticals, Paddy Power Betfair, Sportech, WPP, Xaar
INTERIM DIVIDEND PAYMENT DATE
Blue Capital Global Reinsurance Fund Ltd (DI)
QUARTERLY PAYMENT DATE
Tetragon Financial Group Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Existing Home Sales (US) (15:00)
Gross Domestic Product (GER) (07:00)
House Price Index (US) (14:00)
MBA Mortgage Applications (US) (12:00)
AGMS
Collagen Solutions, Duet Real Estate Finance Ltd, Gable Holdings Inc., NB Distressed Debt Investment Fund Limited, NextEnergy Solar Fund Limited Red
FINAL DIVIDEND PAYMENT DATE
Aquatic Foods Group
|
| | 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 waver as basic resources retreat European stocks wavered in early trade, with basic resources under the cosh following disappointing results from Glencore and amid declining metals prices, as oil remained in the red.
At 0900 BST, the benchmark Stoxx Europe 600 index and France's CAC 40 were up 0.1%, while Germany's DAX was off 0.1%.
At the same time, oil prices were under pressure again after data from the American Petroleum Institute showed an increase of 4.5m barrels last week. West Texas Intermediate was down 1.8% to $47.26 a barrel while Brent crude was 1.5% weaker at $49.22.
Rebecca O'Keeffe, head of investment at Interactive Investor, said: "Equity markets are currently in a one step forward, one step back mode as investors struggle to work out what can drive markets further forward after the two month post-Brexit bounce versus the potential downside risks, including the possibility of a more hawkish Federal Reserve.
"Today's move is seeing European markets slightly weaker, driven by falling energy and commodity prices, with metal and oil prices lower on heightened concerns of oversupply."
On the corporate front, Glencore was under pressure after it reported a 66% drop in first-half profit. Glencore's results weighed on the broader mining sector, with the Stoxx 600 sub-index for basic resources down 1.2%, also hit by falling copper prices.
On the upside, advertising giant WPP was on the front foot after it reported a 12% increase in first-half revenue and lifted its full-year revenue forecast.
In macroeconomic news, data from Destatis confirmed that Germany's economy slowed in the second quarter.
Gross domestic product grew at a quarterly rate of 0.4% and an annualised rate of 1.7%, down from 0.7% quarterly growth in the first quarter. |
| | 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 rise as oil prices rebound, traders cheer earnings US stocks climbed on Tuesday as traders hailed earnings from Best Buy and Toll Brothers, and upbeat data on new home sales.
The Dow Jones Industrial Average rose 0.10% to 18,547.30 points, the S&P 500 increased 0.20% to 2,186.90 points and the Nasdaq grew 0.30% to 5,260.08 points.
At the same time, oil prices rebounded from earlier lows after Reuters reported that Iran may be soon willing to negotiate on action to stabilise the market.
"Iran is reaching its pre-sanctions production level soon and after that it can cooperate with the others," said a source familiar with Iranian thinking after Venezuelan Oil Minister Eulogio Del Pino's visit to Tehran.
The report comes ahead of next month's unofficial OPEC meeting.
West Texas Intermediate rose 1.3% to $48.04 per barrel and Brent crude was 1.3% higher at $48.85.
Meanwhile, Goldman Sachs stuck to its forecasts 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.
Goldman said that while oil prices have rebounded sharply since the beginning of this month, the upward move was not driven by better oil fundamentals but rather by headlines around a potential output freeze and a weaker dollar.
Some well-received corporate news helped to underpin the tone, with Best Buy sharply higher after the consumer electronics retailer's second-quarter results beat expectations.
Housebuilder Toll Brothers rallied after posting a 58% rise in third-quarter profit.
Wells Fargo edged lower on news that the Consumer Financial Protection Bureau has fined the bank $3.6m for illegal student loan servicing.
Restaurant chain Zoe's Kitchen tumbled after it said late on Monday that it was cutting its guidance for the fiscal year.
Sophiris Bio shares tanked after the biopharmaceutical firm priced a public offering of 6.5m shares at $4.00 per share - a 31% discount to Monday's closing price.
On the macroeconomic front, investors digested weaker-than-expected data on US manufacturing sector activity, but encouraging new home sales.
Markit's flash US manufacturing purchasing managers' index fell to 52.1 in August from a nine-month high of 52.9 in July.
Economists had been expecting a less steep decline to 52.7. A reading above 50 indicates expansion.
Although the PMI has now pointed to improving business conditions in each month since October 2009, August's reading pointed to a moderate rate of improvement that was weaker than the post-crisis average.
New home sales figures were much more upbeat, rising 12.4% to an annualised pace of 654,000 units in July, versus economists' expectations for a 2% drop.
Meanwhile, investors continued to look ahead to Federal Reserve Chair Janet Yellen's speech at Jackson Hole on Friday in the hope she will provide further clues on the timing of an interest rate hike.
Oanda's Craig Erlam said: "Yellen's speech on Friday remains the headline event this week and I think we could continue to see an element of caution in the markets in the lead up to this. Investors are still not buying a 2016 rate hike, even following Stanley Fischer's comments over the weekend regarding the economy - markets now marginally pricing in February - so the probability that Yellen says something that goes against what's priced in seems quite high."
Dow Jones - Risers
Nike Inc. (NKE) $59.62 1.63%
Cisco Systems Inc. (CSCO) $30.96 1.08%
Pfizer Inc. (PFE) $35.11 0.77%
E.I. du Pont de Nemours and Co. (DD) $70.43 0.69%
Procter & Gamble Co. (PG) $87.44 0.68%
Home Depot Inc. (HD) $136.25 0.67%
American Express Co. (AXP) $65.79 0.66%
Caterpillar Inc. (CAT) $83.99 0.48%
3M Co. (MMM) $179.82 0.42%
Microsoft Corp. (MSFT) $57.88 0.36%
Dow Jones - Fallers
Wal-Mart Stores Inc. (WMT) $72.01 -0.95%
Boeing Co. (BA) $134.09 -0.67%
Exxon Mobil Corp. (XOM) $87.57 -0.48%
United Technologies Corp. (UTX) $108.08 -0.39%
Chevron Corp. (CVX) $101.57 -0.36%
Visa Inc. (V) $80.89 -0.21%
General Electric Co. (GE) $31.26 -0.19%
Travelers Company Inc. (TRV) $116.73 -0.19%
McDonald's Corp. (MCD) $115.29 -0.11%
Unitedhealth Group Inc. (UNH) $142.00 -0.06%
S&P 500 - Risers
Best Buy Co. Inc. (BBY) $39.11 19.24%
Chesapeake Energy Corp. (CHK) $6.47 6.16%
CF Industries Holdings Inc. (CF) $24.88 5.02%
Marathon Oil Corp. (MRO) $16.42 5.02%
Range Resources Corp. (RRC) $41.23 4.57%
Southwestern Energy Co. (SWN) $14.04 4.23%
Williams Companies Inc. (WMB) $28.50 3.90%
Endo International Plc (ENDP) $23.71 3.36%
Anadarko Petroleum Corp. (APC) $56.03 3.25%
Mosaic Company (MOS) $29.29 3.17%
S&P 500 - Fallers
J. M. Smucker Co. (SJM) $143.79 -7.96%
Mylan Inc. (MYL) $45.65 -4.71%
KLA-Tencor Corp. (KLAC) $68.05 -3.50%
Lockheed Martin Corp. (LMT) $249.63 -1.80%
Northrop Grumman Corp. (NOC) $214.42 -1.76%
Kroger Co. (KR) $32.30 -1.70%
ConAgra Foods Inc. (CAG) $46.27 -1.66%
Campbell Soup Co. (CPB) $60.49 -1.34%
Whole Foods Market Inc. (WFM) $30.60 -1.32%
L-3 Communications Holdings Inc. (LLL) $147.06 -1.28%
Nasdaq 100 - Risers
Endo International Plc (ENDP) $23.71 3.36%
Applied Materials Inc. (AMAT) $29.91 2.61%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $275.93 1.93%
Bed Bath & Beyond Inc. (BBBY) $45.84 1.91%
Skyworks Solutions Inc. (SWKS) $73.79 1.61%
TripAdvisor Inc. (TRIP) $62.70 1.46%
Fiserv Inc. (FISV) $104.26 1.38%
American Airlines Group (AAL) $36.47 1.31%
Akamai Technologies Inc. (AKAM) $53.65 1.27%
Intuit Inc. (INTU) $113.93 1.24%
Nasdaq 100 - Fallers
Mylan Inc. (MYL) $45.65 -4.71%
KLA-Tencor Corp. (KLAC) $68.05 -3.50%
Whole Foods Market Inc. (WFM) $30.60 -1.32%
Comcast Corp. (CMCSA) $65.69 -1.13%
Monster Beverage Corp (MNST) $157.41 -1.11%
Henry Schein Inc. (HSIC) $160.69 -1.10%
Discovery Communications Inc. Class C (DISCK) $25.60 -1.01%
Twenty-First Century Fox Inc Class B (FOX) $25.46 -0.97%
Twenty-First Century Fox Inc Class A (FOXA) $24.90 -0.88% |
| | 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: Fund outflows, North Sea Union, Berkeley Group The immediate fallout from Brexit yielded the biggest outflow of funds from investment managers for at least three years in July as UK investors preferred to put their cash into safe havens. Figures from Morningstar, the financial data specialist, showed that investors pulled nearly £5 billion out of UK investment funds that month because of fears about the vote to quit the EU. However, there have been signs more recently that the market has returned to a degree of equilibrium, helped by the general recovery on the stock market, where the FTSE 100 index has been testing the 7,000 level again. - The Times
The prime minister of Flanders has proposed a radical North Sea Union linking Britain to a cluster of regional states to cushion the Brexit shock, a sign that European leaders are starting to look for creative ways to heal the referendum rift. Geert Bourgeois, leader of Belgium's dominant region, said there is a growing consensus in EU capitals that it would be fatal mistake to try to "punish" Britain. - The Daily Telegraph
ShareSoc, the UK Individual Shareholders Society, has advised its members to vote against house builder Berkeley's remuneration package at the company's forthcoming AGM. It argued that total payouts from a long term incentive plan from 2011 are likely to come to £400m, which ShareSoc described as "excessive". - The Daily Telegraph
Ireland has registered its first year of net immigration since 2009, statistics showed on Tuesday, as the rate of Irish nationals leaving Europe's fastest growing economy fell sharply. Net immigration to Ireland peaked at over 100,000 at the height of its housing boom in 2008, but the country lost around 30,000 people a year during its 2010-2013 EU-IMF bailout. Migration added 3,000 people to Ireland's population in the year to April 2016, the first increase in seven years. - The Guardian
Local authority pension funds are planning to back a shareholder resolution calling for an independent review of Sports Direct's treatment of employees. The retail group will hold its annual general meeting on 7 September in Shirebrook, Derbyshire, where shareholders will vote on a trade union-backed plan to commission an investigation into working practices that will report back within six months. - The Guardian | | |
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