| | | | | | | Discover a new way to trade with eToro Trade 1000s of markets independently, connect with millions of other traders and copy top performing traders move-for-move. Click Here 
| | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Shares higher ahead of US jobs report London stocks opened higher on Friday as investors looked to the release of the monthly US nonfarm payrolls report later in the day.
The report was expected to come under particularly close scrutiny after Federal Reserve Chair Janet Yellen said last week that any hike to interest rates would be dependent on upcoming data.
As of 0823 BST the FTSE 100 was trading up by 12.18 points to 6,758.84.
Rabobank said: "It's blindingly obvious what market attention will be focused on today. The headline expectation is a decent 180K, down from a blistering 255K in July. However, a word of warning. As Bloomberg has recently noted, August tends to see downside surprises to expectations in this key series. Hence, we might end up with another 'oops!' moment, just as we did back in early June with the May jobs data, which subsequently pushed the Fed off the hiking trail (if they were ever really on it) in the summer."
UK construction PMI was scheduled for release at 0930 BST. In the US, the nonfarm payrolls report was set to be published at 1330 BST, along with the unemployment rate and trade balance figures.
In corporate news, productivity-enhancing instrumentation and controls company Spectris said it has completed the acquisition of the entire share capital of Millbrook Group from Rutland Partners and Millbrook's management shareholders.
The FTSE 250 firm said the purchase consideration totalled £122m, on a debt and cash-free basis, and will be met from existing cash and bank facilities.
A total of £3.4m of the purchase price will be deferred for 24 months.
Trading at Segro since the end of the second quarter had seen occupational demand remain strong. The property developer's vacancy rate remained low and the firm saw net absorption of existing space.
From 30 June, the company had signed pre-let agreements for 188,600 square meters across Europe, which the firm expected would result in £6.0m of new annualised headline rent, while the pipeline of near-term opportunities remained encouraging.
Retirement housebuilder McCarthy & Stone reported a rise in revenue in the year to the end of August but said there has been evidence of some weakness in the secondary housing market since its update at the end of June.
Sales were up 31% to around £635m, with legal completions 20% higher at 2,299 units. The company said its land bank increased to approximately 10,206 plots from 10,087.
Passenger transport operator Go-Ahead Group posted its preliminary full-year results for the year to 2 July on Friday, with its overall results slightly ahead of management expectations. |
| | Social Trading with Tradeo | | Maria’s waiting for you! She's this month's top trader from Sweden with +864% gain and she'll be happy to explain her winning strategy for you!
|
| | UK Event Calendar | |
|
| | 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 as investors eye payrolls European stocks edged higher in early trade as investors looked to the release of the eagerly-awaited non-farm payrolls report.
At 0900 BST, the benchmark Stoxx Europe 600 index was up 0.3%, Germany's DAX was 0.2% higher and France's CAC 40 was up 0.6%.
At the same time, oil prices also nudged up. West Texas Intermediate was up 0.4% at $43.33 a barrel and Brent crude was 0.3% firmer at $45.59.
The main focus on Friday will be on the payrolls, particularly after Federal Reserve Chair Janet Yellen said last week that a move on interest rates would be dependent on upcoming data.
Mike van Dulken, head of research at Accendo Markets, said: "Risk appetite is tempered as usual in the run-up to the latest US jobs report, but possibly even more so than usual given Fed clarity about data-dependency before the next US rate rise.
"The result of this afternoon's US Non-Farm Payrolls could well dictate sentiment onto the weekend. This as markets continue to digest yesterday's raft of mixed - in some cases surprising - manufacturing data that calls into question the quality of economic recovery around the world."
On the company front, French hotels group Accor was on the front foot after Barclays lifted the stock to 'overweight' from 'equalweight'.
Transport operator Go-Ahead Group rallied after posting stronger-than-expected annual profits in the rail division.
On the downside, German e-commerce investor Rocket Internet slumped after it reported a first-half consolidated loss of €617m.
Elsewhere, Segro was under the cosh after the property developer announced plans to raise £340m in a placing to fund the development of new projects.
Retirement housebuilder McCarthy & Stone fell sharply after it reported a rise in revenue in the year to the end of August but said there has been evidence of some weakness in the secondary housing market since its update at the end of June.
On the macroeconomic calendar, inflation figures for the eurozone are due at 1000 BST. In the US, the payrolls report is at 1330 BST along with the unemployment rate and trade balance figures. |
| | 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: Markets end mixed as traders weigh data US stocks ended relatively flat on Thursday as traders weighed worse-than-expected manufacturing data against a better-than-expected report on weekly jobless claims.
The Dow Jones Industrial Average was last up 0.1% at 18,419.30 points, the S&P 500 was flat at 2,170.86 points and the Nasdaq 100 grew 0.27% to 4,783.94 points.
Oil prices plummeted after official data on Wednesday showed weekly crude inventories rose more than expected, adding to worries about the global supply glut.
West Texas Intermediate was last down 2.69% at $43.53 per barrel and Brent declined 2.47% to $45.76 per barrel.
On the data front, the Labor Department said initial jobless claims increased 2,000 to a seasonally adjusted 263,000 in the week ended 27 August, compared to analysts' forecasts of 265,000. The previous week's reading was unrevised.
Continuing jobless claims rose by 14,000 to 2.16m in the week ended 20 August.
"The low level of initial claims shows that workers are not losing their jobs in large numbers, while the low level of continuing claims indicates that those workers who do get laid off are likely finding employment and are therefore leaving the unemployment insurance rolls, outside of the manufacturing states mentioned above," said Barclays Research.
The figures come ahead of the all-important US non-farm payrolls report on Friday, which will be closely monitored after Federal Reserve chair Janet Yellen said the next interest rate hike depends on the strength of incoming data.
Meanwhile, Markit's final US manufacturing purchasing managers' index fell to 52.0 in August from 52.9 the month before and the flash estimate of 52.1.
Still, it remained above the 50.0 mark that separates contraction from expansion.
Separate figures from the Institute for Supply Management showed growth in the US economy's manufacturing sector slipped a lot more than expected in August, moving into contraction territory.
The ISM index of national factory activity fell to 49.4 from 52.6 in July, missing expectations for a reading of 52.0.
Elsewhere, China's official manufacturing PMI rose to 50.4 in August from 49.9 a month earlier. Analysts had expected no change to the reading.
The Caixin China manufacturing PMI, a separate private gauge of activity in the sector, dropped to 50.0 in August from 50.6 in July.
The official PMI for non-manufacturing in China was also released, showing a drop to 53.5 in August from 53.9 in July.
In corporate news, Campbell Soup shares plunged 6.29% after reporting an unexpected drop in quarterly profit and providing a full year outlook that fell short of market forecasts.
Vera Bradley shares jumped 11.30% as the luxury handbag maker posted quarterly revenue and net income that beat analysts' estimates. |
| | 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 | | Friday newspaper round-up: Poundland, Scotland, IMF The battle for control of Poundland took a fresh twist after a voracious New York hedge fund raised its stake in the high street chain to nearly 25%. The board of Poundland has agreed to a £610m takeover by South African retail group Steinhoff, whose UK empire already includes furniture chains Bensons for Beds and Harveys. But the deal has been dogged by interventions from activist investor Elliott Advisors, which is run by Paul Singer, a self-made billionaire who has been criticised for presiding over a 'vulture fund'. - The Daily Mail
A revived Scottish independence campaign unveiled today will bring "fresh uncertainty" to the country's future and be a "major breach of trust" with voters from the 2014 referendum, a group of leading business figures have warned. Nicola Sturgeon will launch the nation's "biggest ever political listening exercise" in Stirling to discover why "soft" No voters rejected independence two years ago. - The Scotsman
The International Monetary Fund (IMF) has called for the leaders of the world's leading economies to make a positive case for globalisation after voicing concern that prolonged slow growth and rising inequality is eroding support for free trade and open markets. In a report published before this weekend's gathering of the G20 group of developed and developing nations in China, the fund warned that slower than expected growth in the US and the knock-on impact of Brexit were likely to result in a fresh downgrade of its forecasts for global activity in 2016. - The Guardian
Hillary Clinton's presidential ambitions took a knock yesterday when it was alleged that her husband used taxpayers' money to subsidise their family charity. The Clinton Foundation has cast a shadow over the Democratic nominee amid allegations that donors sought special government favours when she served as secretary of state from 2009 to 2013. She denies any conflict of interest, but her poll numbers have suffered amid doubts over her trustworthiness, fuelled in part by the controversy over the private email server she used at the state department. - The Times
Ireland may have to revise its annual GDP figures for the past decade following the European commission's ruling that the majority of Apple's overseas profits should have been taxable in the Republic. "If the European commission have ruled this profit should be taxable in Ireland, it should be reflected in the GDP numbers," said Seamus Coffey, lecturer in economics at University College Cork. He believes the revision, which could be required by the European statistics agency Eurostat, could show that the Irish economy was growing between 6% and 8% a year from 2010 onwards. This would represent a dramatic change, at least on paper: Ireland's GDP shrank in 2012 and growth was recorded at zero in 2011. - 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