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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 flat as investors eye services data London stocks wavered in early trade as investors sifted through some corporate news ahead of the release of services data.
At 0830 BST, the FTSE 100 was flat at 6,893.62. At the same time, oil prices were a touch firmer, with West Texas Intermediate up 0.1% to $44.47 a barrel and Brent crude 0.3% firmer at $46.97.
UK services PMI is at 0930 BST.
Spreadex analyst Connor Campbell said: "The figure is broadly expected to follow the same 'recovery' trend as its PMI peers, with analysts expecting a jump from 47.4 in July to 49.1 in August. Given, however, the supersized increase made by the manufacturing survey and, to a lesser extent, the better than forecast rise in construction, the services reading may be under a different pressure, something only compounded by the fact it is arguably the most important PMI of the three."
In corporate news, GlaxoSmitKline nudged up after tests of one of its respiratory drugs found a statistically significant reduction in the rate of attacks suffered by chronic obstructive pulmonary disease (COPD) patients compared to when they receive the standard treatment.
The pioneering Salford Lung Study into the effectiveness and safety of GSK's drug also showed a similar improvement against patients who were taking a medicine in the same class as Relvar Ellipta.
Wizz Air flew higher after reporting a 17% jump in passenger numbers in August as it announced new routes to and from several central and eastern European countries.
Marks & Spencer was in the black following news reports over the weekend that it plans to cut 500 jobs at its head office this week.
On the downside, LondonMetric Property was a touch weaker after it announced that it has sold a retail park in Warrington for £6.6m, at a net initial yield of 5.4%, and acquired an 89,000 sq ft distribution warehouse in Hemel Hempstead for £8.3m, at a NIY 6.4%.
Shares in construction and maintenance company Carillion slipped after it extended its partnership with utility firm Centrica for a further five years to deliver facilities management and project services, in a deal worth £90m.
US market will be closed on Monday for the Labour Day holiday. |
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| Market Movers
FTSE 100 (UKX) 6,893.54 -0.02%
FTSE 250 (MCX) 18,062.14 0.25%
techMARK (TASX) 3,477.16 0.20%
FTSE 100 - Risers
Fresnillo (FRES) 1,704.00p 2.16%
BHP Billiton (BLT) 1,016.00p 2.06%
Anglo American (AAL) 823.90p 1.97%
Randgold Resources Ltd. (RRS) 7,600.00p 1.81%
Paddy Power Betfair (PPB) 9,155.00p 1.55%
Mondi (MNDI) 1,578.00p 1.41%
Rio Tinto (RIO) 2,357.00p 1.29%
Glencore (GLEN) 184.00p 1.24%
Antofagasta (ANTO) 512.00p 1.09%
Mediclinic International (MDC) 1,046.00p 0.97%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 200.50p -1.86%
Provident Financial (PFG) 3,057.00p -1.39%
Lloyds Banking Group (LLOY) 60.13p -1.35%
Tesco (TSCO) 169.65p -1.17%
GKN (GKN) 324.10p -1.16%
Persimmon (PSN) 1,844.00p -0.86%
Standard Life (SL.) 370.20p -0.86%
Travis Perkins (TPK) 1,661.00p -0.84%
International Consolidated Airlines Group SA (CDI) (IAG) 389.80p -0.76%
Barclays (BARC) 173.00p -0.75%
FTSE 250 - Risers
Zoopla Property Group (WI) (ZPLA) 326.60p 6.73%
Hochschild Mining (HOC) 274.20p 4.82%
IP Group (IPO) 204.94p 3.82%
Rank Group (RNK) 222.53p 3.50%
DFS Furniture (DFS) 283.12p 2.95%
Centamin (DI) (CEY) 158.00p 2.46%
Kaz Minerals (KAZ) 182.30p 2.36%
Aldermore Group (ALD) 171.40p 2.27%
Worldwide Healthcare Trust (WWH) 2,034.00p 2.16%
Vedanta Resources (VED) 510.00p 2.14%
FTSE 250 - Fallers
Redefine International (RDI) 39.00p -10.43%
TalkTalk Telecom Group (TALK) 199.10p -1.97%
Card Factory (CARD) 296.30p -1.23%
Galliford Try (GFRD) 1,145.00p -1.21%
Go-Ahead Group (GOG) 2,180.00p -1.18%
Tritax Big Box Reit (BBOX) 146.50p -1.08%
Pendragon (PDG) 32.92p -0.99%
Hays (HAS) 128.70p -0.92%
Brown (N.) Group (BWNG) 214.40p -0.88% |
| | UK Event Calendar | | Monday September 05
INTERIMS
Faron Pharmaceuticals Oy (DI), Flowgroup, Hunting, MD Medical Group Investments GDR (Reg S), Plus500 Ltd (DI), Randall & Quilter Investment Holdings (DI), Union Jack Oil, Vipera
INTERIM DIVIDEND PAYMENT DATE
Avon Rubber, St. Modwen Properties
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ISM Non-Manufacturing (US) (15:00)
Retail Sales (EU) (10:00)
FINALS
Ashmore Group, Dechra Pharmaceuticals, Tricor
EGMS
MirLand Development Corporation
AGMS
Better Capital Pcc Ltd (2009), IG Seismic Services GDR (Reg S), Marwyn Value Investors Limited
UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)
FINAL DIVIDEND PAYMENT DATE
BT Group, Panther Securities
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks nudge higher as investors continue to mull payrolls European stocks nudged higher in early trade as investors continued to mull over the implications of Friday's disappointing nonfarm payrolls report.
At 0850 BST, the benchmark Stoxx Europe 600 index was up 0.1%, Germany's DAX was 0.3% higher and France's CAC 40 was up 0.2%.
At the same time, oil prices were a touch higher. West Texas Intermediate was up 0.1% to $44.47 a barrel and Brent crude was 0.3% firmer at $46.97.
Rebecca O'Keeffe, head of investment at Interactive Investor, said: "European equity markets are still benefitting from the euphoria of Friday's worse than expected US employment numbers.
"With investors concluding that the risk of a September rate rise has diminished significantly, equities remain the favoured asset class for the moment."
In corporate news, Zodiac Aerospace was under the cosh after a profit warning, while Hugo Boss slumped as UBS downgraded the stock to 'sell'.
Altice was in the red after the telecoms group made an offer for the outstanding 22.25% shares of SFR it does not already own.
GlaxoSmitKline nudged up after tests of one of its respiratory drugs found a statistically significant reduction in the rate of attacks suffered by chronic obstructive pulmonary disease (COPD) patients compared to when they receive the standard treatment.
The pioneering Salford Lung Study into the effectiveness and safety of GSK's drug also showed a similar improvement against patients who were taking a medicine in the same class as Relvar Ellipta.
Retailer Marks & Spencer was in the black following news over the weekend that it plans to cut 500 jobs at its head office this week.
On the data front, investors will eye the release of the eurozone services purchasing managers' index at 0900 BST while retail sales for the bloc are at 1000 BST. |
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| | US Market Report | | US close: Stocks gain after jobs report, ahead of long weekend Wall Street closed higher after the latest monthly jobs numbers left economists divided as to whether it took away from the Fed´s arguments to go ahead and hike rates at its 20-21 September meeting.
The Dow Jones Industrial Average rose 0.39% or 72.66 points to close at 18,491.66 points, the S&P 500 gained 0.42% or 9.12 points to finish at 2,179.98 points and the Nasdaq rose 0.43% or 22.69 points to finish at 5,249.90.
Trading volumes were slightly lighter than usual ahead of the long Labour Day holiday, with the S&P 500 closing up by 0.5% for the week as a whole.
In parallel, crude oil prices jumped on renewed hopes of a deal to freeze output at OPEC's informal meeting on 26-28 September. West Texas Intermediate crude tacked on 99 cents to see the day out from the $44.44 per barrel level.
The yield on the benchmark 10-year US advanced three basis points to close at 1.60%, with Fed funds futures assigning odds of 50.4% to an interest rate increase by the US Fed by the time of its December meeting, according to the Chicago Mercantile Exchange´s Fed Watch tool.
From a sector standpoint, the biggest gains were to be seen among the following industrial groups: Gold mining (2.78%), Marine transportation (2.72%), Mining (2-41%) and Mobile Telecommunications (2.04%).
US employers added 151,000 jobs in August, compared to expectations of 180,000, the Labor Department revealed. However, July's reading was revised to show a gain of 275,000 jobs, up from a previous estimate of 255,000.
The unemployment rate held at 4.9%, missing forecasts for a drop to 4.8%.
Average hourly wages rose 0.1% month-on-month in August, falling short of analysts' estimates for a 0.2% increase and marking a slowdown from growth of 0.3% in July. Compared to the same month a year ago, hourly wages edged up 2.4%, also below expectations for a 2.5% gain and compared to a 2.6% rise in July.
A rate increase in the Fed funds rate come December was still likely but August´s non-farm payrolls report would not convince officials at the US central bank to make a move in September. The rate of growth in average hourly earnings had slipped to a six-month low, while average weekly hours plumbed a two-and-a-half year low and a 3,100 decline in temporary hiring "wasn´t exactly positive either", said Paul Ashworth, chief US economist at Capital Economics.
Elsewhere, data from the Commerce Department showed the US trade deficit narrowed in July as exports improved. The trade gap narrowed 11.6% from a month earlier to a seasonally adjusted $39.47bn, compared to expectations of $43.5bn.Imports dropped 0.8% while exports increased 1.9%.
On the company front, Lululemon Athletica shares crumbled after the yoga wear maker late Thursday provided a lacklustre forecast for the current quarter.
Smith & Wesson shares finished sharply lower after the gun maker reported better-than-expected quarterly results.
Stock in Hewlett Packard edged higher following a report the company could be looking for a buyer of its software business.
Dow Jones - Risers
Boeing Co. (BA) $131.16 0.97%
Apple Inc. (AAPL) $107.73 0.94%
Visa Inc. (V) $82.00 0.86%
Cisco Systems Inc. (CSCO) $31.83 0.79%
Chevron Corp. (CVX) $100.93 0.72%
Coca-Cola Co. (KO) $43.66 0.72%
Home Depot Inc. (HD) $135.15 0.69%
Exxon Mobil Corp. (XOM) $87.42 0.67%
Unitedhealth Group Inc. (UNH) $136.61 0.64%
Verizon Communications Inc. (VZ) $52.88 0.61%
Dow Jones - Fallers
Nike Inc. (NKE) $58.02 -0.89%
Wal-Mart Stores Inc. (WMT) $72.50 -0.47%
Procter & Gamble Co. (PG) $88.20 -0.12%
International Business Machines Corp. (IBM) $159.55 0.01%
Merck & Co. Inc. (MRK) $62.98 0.13%
Microsoft Corp. (MSFT) $57.67 0.14%
Intel Corp. (INTC) $36.08 0.17%
Walt Disney Co. (DIS) $94.42 0.17%
United Technologies Corp. (UTX) $106.93 0.20%
Johnson & Johnson (JNJ) $119.32 0.20%
S&P 500 - Risers
VeriSign Inc. (VRSN) $79.02 5.63%
Chesapeake Energy Corp. (CHK) $6.60 5.60%
Anadarko Petroleum Corp. (APC) $56.49 5.51%
Range Resources Corp. (RRC) $40.47 3.58%
NRG Energy Inc. (NRG) $11.98 3.28%
Apache Corp. (APA) $51.29 3.01%
Newmont Mining Corp. (NEM) $40.52 2.76%
Tenet Healthcare Corp. (THC) $24.20 2.63%
Marathon Oil Corp. (MRO) $15.49 2.51%
Biogen Inc (BIIB) $313.59 2.47%
S&P 500 - Fallers
Church Dwight Co Inc. (CHD) $49.97 -49.90%
Carnival Corp. (CCL) $46.39 -4.74%
Mylan Inc. (MYL) $39.97 -4.65%
Mallinckrodt Plc Ordinary Shares (MNK) $72.42 -4.19%
Royal Caribbean Cr (RCL) $70.01 -3.71%
Under Armour Inc. Class A (UA) $38.56 -2.99%
Gap Inc. (GPS) $23.92 -2.57%
VF Corp. (VFC) $60.03 -2.49%
Broadcom Limited (AVGO) $173.11 -2.25%
United States Steel Corp. (X) $18.90 -2.22%
Nasdaq 100 - Risers
Liberty Global plc Series C (LBTYK) $31.97 3.13%
Liberty Global plc Series A (LBTYA) $32.84 2.88%
Liberty Media Corporation - Class A (LMCA) $21.88 2.53%
Liberty Media Corporation - Series C (LMCK) $21.69 2.50%
Biogen Inc (BIIB) $313.59 2.47%
Vodafone Group Plc ADS (VOD) $30.90 2.35%
T-Mobile Us, Inc. (TMUS) $47.29 2.25%
Dish Network Corp. (DISH) $51.78 2.21%
Electronic Arts Inc. (EA) $83.46 2.08%
Mattel Inc. (MAT) $33.69 1.60%
Nasdaq 100 - Fallers
Mylan Inc. (MYL) $39.97 -4.65%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $35.61 -3.89%
Broadcom Limited (AVGO) $173.11 -2.25%
Ctrip.Com International Ltd. Ads (CTRP) $47.90 -2.17%
Endo International Plc (ENDP) $19.82 -2.03%
Alexion Pharmaceuticals Inc. (ALXN) $123.67 -1.56%
Tesla Motors Inc (TSLA) $197.78 -1.49%
Stericycle Inc. (SRCL) $84.15 -1.42%
Regeneron Pharmaceuticals Inc. (REGN) $388.64 -1.21%
Nvidia Corp. (NVDA) $62.53 -0.98% |
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| | Newspaper Round Up | | Monday newspaper round-up: Brexit delay, UK fracking, BAE Systems Banks are demanding up to five years to deal with the consequences of Britain's departure from the European Union, a move that if successful could prompt accusations of favouritism and incur the wrath of those campaigning for a swift exit. Britain's lenders are pressing to be allowed up to three further years to arrange their affairs for Brexit on top of the two-year period that will be triggered when Theresa May invokes Article 50. They say they need more time because of the complexities of having to move big operations away from the UK. - The Times
Britain's efforts to get fracking for shale gas have suffered a fresh delay after it emerged a legal challenge against the only approved project will not be heard until the end of November. Shale explorer Third Energy had hoped it might start work at its Kirby Misperton site in North Yorkshire as soon as the end of this year, after getting planning consent in May. - Telegraph
Theresa May has ruled out a radical switch to an immigration system that would strip EU citizens of their preferential access to the UK, in comments expected to inflame Brexit supporters. The prime minister, speaking ahead of her first G20 summit in China, is considering a more modest reform of immigration rules for EU citizens, knowing that severe curbs could leave Britain excluded from large parts of the single market. - Financial Times
Japan has issued a daunting challenge to Theresa May, UK prime minister, to negotiate a very "soft" British exit from the EU or risk seeing Japanese banks and other companies leave for the continent. Mrs May, attending her first G20 summit in China, was also warned on Sunday by Barack Obama, US president, that strong business links between his country and the UK could "unravel" unless Brexit was handled carefully. - Financial Times
Theresa May is to bring forward proposals to tackle bad corporate behaviour such as excessive executive pay and aggressive tax avoidance, as she used the G20 summit to warn that some people feel left behind by globalisation. Addressing the conference in the city of Hangzhou in eastern China, she said world leaders needed to make sure more people felt the benefits of globalisation and free trade. - Guardian
Britain is easily capable of thriving outside the European Union, one of the world's leading economists has insisted. "There's no reason why not", says Joseph Stiglitz, a Nobel prize winning economist and something of an economic guru to the political left. "But it depends on how Europe responds, and how the negotiations go. - Telegraph
John Malone, the billionaire head of Liberty Media, faces a fight for control of Formula One after it emerged that two more potential bidders had expressed an interest in owning the motorsport business. The Monza paddock at the Italian Grand Prix was awash with speculation yesterday that this week Liberty will launch a £1 billion bid for 20 per cent of the sport and that Bernie Ecclestone, who has ruled Formula One for four decades, was at his last race in control. - The Times
BAE Systems has teamed up with Germany's top insurer Allianz as it aims to grab a bigger slice of the burgeoning cyber defence market. Under the tie-up, which will open up potential deals for BAE with companies that have been targeted by cyber criminals, the defence giant will provide Allianz customers with instant access to its cyber defence expertise. - Telegraph
A raft of data published this week will offer the latest health check on the state of the UK economy following June's vote to leave the EU, with economists expecting the figures to suggest businesses were so far "proving resilient". On Monday, figures will show how confidence is holding up in the UK service sector, from the latest survey of purchasing managers. Andrew Sentance, senior economics adviser at PwC, said the update would be the most closely scrutinised of all the data due this week after activity and orders in July were found to have contracted at the fastest rate since early 2009. - Guardian
The world's top 10 investment banks have already paid out almost as much in fines and penalties so far this year as they did in the 12 months of 2015, dashing hopes that the outlay for misdeeds had begun to taper off. The banks have paid $9.79bn in fines and settlements for the first eight months of 2016, meaning that this year's total will almost certainly top the $10.36bn paid in the entire of 2015, according to data compiled by analytics firm Corlytics. - Financial Times
Talks between a £5 billion British data centre company and a Chinese consortium about a potential investment are continuing despite former foreign secretary Malcolm Rifkind one of several senior politicians and experts who raised concerns at the weekend about a potential danger to security. Global Switch, which is owned by the billionaire Reuben brothers, said yesterday that the talks with a "consortium of high-quality private sector Asian investors" could "unlock access to the fast-growing telecommunications and internet markets in Asia". - The Times
The accountancy group under investigation by its professional watchdog over its audit of Tesco has a new role at the supermarket chain. Tesco has appointed PwC as an independent adviser, despite replacing it as auditor with Deloitte. - The Times | | |
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