| | | | | | | Think You Know The Markets? PROVE IT Put your trading knowledge to the test at City Index. Whatever’s happening out there, we’ll make sure you’re ready to seize the opportunity, with expert analysis and our award winning platforms. The rest is up to you. Losses can exceed deposits. Trade now | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks rise as market continues to recover from Trump shock London stocks opened on the front foot on Thursday as the market continued to recover from the initial shock of Donald Trump's victory in the US presidential election.
At 0819 GMT, the FTSE 100 rose 0.92% to 6,975.90 points.
The index had closed in the green on Wednesday, rebounding from a decline following the election of Trump.
Amid the uncertainty a Trump presidency brings, investors seemed to cheer the fact it meant a rate hike by the Federal Reserve is less likely in December. Trump also indicated further spending for infrastructure in a boost to industrial stocks.
Mining shares enjoyed a rise in gold prices, as investors sought safe havens, while pharmaceuticals rallied on the fact that a win by Democratic presidential candidate Hillary Clinton would have meant a crackdown on regulation and drug prices.
"Now with Trump's promises of big US fiscal spending on the horizon, including massive cut in taxes and less regulation, investors believe that US profit growth will rise sharply, inflation will return, and bonds' yield curves will steepen," said FXTM market strategist Hussein Sayed.
However, the dollar remained weaker, falling 0.31% versus the pound and 0.13% versus the euro. It recovered slightly against the yen, however, rising 0.03%.
Oil prices were marginally higher despite worries that OPEC will fail to deliver on its commitment to curb production. Brent crude rose 0.72% to $46.70 per barrel and West Texas Intermediate edged up 0.28% to $45.40 per barrel at 0824 GMT.
On the economic data front, British house prices rose in October at the fastest pace since April as a shortage of homes propped up the market. The Royal Institution of Chartered Surveyors 'House Price Balance index jumped to 23% in October from 18% the previous month, surprising analysts who had expected no change.
The US sees the initial jobless claims report at 1330 GMT and hears from Fed speakers John Williams and James Bullard later in the session.
Among corporate stocks, Astrazeneca edged slightly higher as a one-off tax windfall in the third quarter offset heavy investment into new drugs. The group posted a net profit of $1bn for the three months ended 30 September, up 32% on the same period a year earlier. However, revenue fell 4% to $5.7bn, missing forecasts of $5.87bn, as generic versions of its best-selling medicine Crestor hurt sales.
ITV gained after saying total external revenues increased 5% to £2.15bn in the third quarter despite a 4% fall in advertising revenue. Non-advertising revenue drove the growth, rising 15% to £1.25bn.
Shares in electricity infrastructure operator National Grid fell slightly as it posted its half-year report, with adjusted earnings per share of 28.2p, in line with last year, and operating profit of £1.9bn, up 1% including favourable timing and the effect of foreign exchange.
Hikma Pharmaceuticals was under the cosh, even as it said that it is currently generating "good" revenue growth and expects revenue for the full year to rise by around 35% to $2bn at constant currency. |
| | Make money trading the US Election The vote is upon us, but are you making money from the volatility? Download this FREE & Exclusive Election Special Report, from our Chief Market Analyst, giving you key fundamental and technical analysis into the election and the likely impact on the stock, index, fx and commodity markets. Winner of the 2016 ADVFN Award for Best Trading Education Provider |
| Market Movers
FTSE 100 (UKX) 6,968.26 0.82%
FTSE 250 (MCX) 17,733.61 0.81%
techMARK (TASX) 3,400.23 0.84%
FTSE 100 - Risers
Antofagasta (ANTO) 678.00p 5.69%
Glencore (GLEN) 281.10p 4.01%
Shire Plc (SHP) 5,092.00p 3.98%
Prudential (PRU) 1,481.00p 3.89%
Barclays (BARC) 200.40p 3.89%
Anglo American (AAL) 1,233.00p 3.35%
St James's Place (STJ) 987.50p 3.29%
Pearson (PSON) 768.50p 3.22%
Rio Tinto (RIO) 3,165.50p 3.16%
Standard Life (SL.) 363.30p 2.71%
FTSE 100 - Fallers
Mediclinic International (MDC) 894.00p -2.83%
Randgold Resources Ltd. (RRS) 6,950.00p -2.32%
Fresnillo (FRES) 1,737.00p -1.92%
Unilever (ULVR) 3,289.00p -0.66%
BP (BP.) 455.25p -0.62%
Whitbread (WTB) 3,526.00p -0.51%
Morrison (Wm) Supermarkets (MRW) 217.00p -0.46%
Tesco (TSCO) 198.85p -0.40%
Sainsbury (J) (SBRY) 237.80p -0.38%
AstraZeneca (AZN) 4,559.00p -0.36%
FTSE 250 - Risers
Aldermore Group (ALD) 203.30p 7.28%
Vedanta Resources (VED) 836.50p 7.11%
Supergroup (SGP) 1,539.00p 6.36%
Kaz Minerals (KAZ) 338.30p 6.18%
CMC Markets (CMCX) 211.00p 4.09%
Vesuvius (VSVS) 372.70p 3.90%
Tullow Oil (TLW) 264.50p 3.24%
Auto Trader Group (AUTO) 398.50p 3.24%
Wizz Air Holdings (WIZZ) 1,677.00p 2.88%
Henderson Group (HGG) 231.00p 2.85%
FTSE 250 - Fallers
Halfords Group (HFD) 330.80p -3.75%
Go-Ahead Group (GOG) 2,077.00p -2.90%
Polypipe Group (PLP) 252.30p -1.83%
Acacia Mining (ACA) 533.00p -1.75%
William Hill (WMH) 287.00p -1.71%
F&C Commercial Property Trust Ltd. (FCPT) 130.00p -1.37%
Greencoat UK Wind (UKW) 114.00p -0.87%
Bovis Homes Group (BVS) 796.50p -0.75%
GCP Infrastructure Investments Ltd (GCP) 129.50p -0.61% |
| | UK Event Calendar | | Thursday 10 November
INTERIMS
Auto Trader Group , Dairy Crest Group, Halfords Group, Mediclinic International , Mercia Technologies , National Grid, Vedanta Resources
INTERIM DIVIDEND PAYMENT DATE
British American Inv Trust, Ladbrokes Coral Group, Scisys
INTERIM EX-DIVIDEND DATE
First Derivatives, Hadrian's Wall Secured Investments, London Security, NB Distressed Debt Investment Fund Limited, NB Distressed Debt Investment Fund Limited Ext Shs, NB Distressed Debt Investment Fund Limited Red Ord, Panther Securities, Whitbread
QUARTERLY PAYMENT DATE
Merchants Trust
QUARTERLY EX-DIVIDEND DATE
Boeing Co, BP, Brunner Inv Trust, F&C Commercial Property Trust Ltd., Royal Dutch Shell 'A', Royal Dutch Shell 'B'
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Initial Jobless Claims (US) (13:30)
Q3
AstraZeneca, Bank Pekao SA GDS (Reg S), Hellenic Telecom Industries SA ADS
FINALS
Mobile Streams
SPECIAL DIVIDEND PAYMENT DATE
Photo-Me International
AGMS
Swallowfield, Target Healthcare Reit Ltd, Tlou Energy Limited (DI), Urals Energy Public Co Ltd. (DI)
TRADING ANNOUNCEMENTS
Gem Diamonds Ltd. (DI), Howden Joinery Group
FINAL DIVIDEND PAYMENT DATE
Photo-Me International
FINAL EX-DIVIDEND DATE
Abcam, Craneware, DX (Group), Go-Ahead Group, JPMorgan Smaller Companies Inv Trust, Jupiter European Opportunities Trust, Revolution Bars Group, Swallowfield
|
| | ADVFN CEO Interview Hurricane Energy | | Click here to find out more! |
| | US Market Report | | US close: Trump tempers talk in triumph to mollify markets US stocks closed near to three-month highs on Wednesday after self-styled 'outsider billionaire' Donald Trump bewildered pollsters to win the race to become the next president of the United States before offering handfuls of olive branches in his victory speech that calmed market doomsayers, temporarily at least.
Although volumes of 'expert' warnings had trumpeted that a triumph for the tangerine-tinged Republican candidate would definitely lead to volatility if not widespread losses and a surge into gold and other safe havens, Wall Street opened fairly serenely before beginning a climb that lasted almost the entire session.
Earlier, Dow and S&P futures and Asian markets had dived into deep losses as the likelihood of a victory for the Aberdeenshire business owner increased overnight, before feeding into a major early plunge in European markets such as the DAX and CAC 40.
But Trump could be given some credit for restoring some initial order. His victory speech, which was conciliatory and given in a markedly less maverick tone with strong calls for unity on a number of issues, seemed to be the factor that brought calm to global markets.
And by the close the Dow Jones Industrial Average was up 1.4% to 18,589.69 points, after futures markets had earlier pointed to an 800-point loss, with the S&P 500 rising 1.11% to 2,163.26 and the Nasdaq also 1.11% to 5,251.07.
Connor Campbell, financial analyst at Spreadex said the stock indices' rise was fuelled by pharmaceuticals over relief their drug prices will not face the anticipated pressure from some of Hillary Clinton's stated policies, with miners and any companies seen as benefitting from Trump's promised big infrastructure spending.
Markets were also adjusting to predicted rate hikes from the Federal Reserve, where chair Janet Yellen is facing pressure as Trump is certainly not a fan.
"One thing investors have managed to cling on to is the shifting sands of Fed rate expectations, with December now looking increasingly unlikely to many," said analyst Joshua Mahony at IG.
"Amid all the economic uncertainty there is a chance we could see the Fed hold off. However, with the stock market weakness largely dissipating and a new President who has called the Fed corrupt for keeping the rates low to facilitate Clinton's campaign, there is reason to believe December could still be live."
Having spiked earlier to $1,137, gold futures on the Comex returned to whence they came, $1,277.8 per troy ounce, a rise of just 0.26%.
Oil prices initially retreated, with West Texas Intermediate was down as low as $43 before trimming losses to stand at $45.34 by early evening New York time, with Brent crude up to$46.53 per barrel.
In currency markets, the dollar was down against the pound to 1.2426, up on the yen at 104.44, while the Mexican pared the worst of its losses after plunging to its worst level ever against the greenback earlier.
"Current fears of crazy, destabilizing legislation and international initiatives are overblown," said Berenberg's chief US economist Mickey Levy. |
| | Q4 Top 10 Stock Picks | | Moving into the final quarter of the year, a packed events calendar is going to create opportunities aplenty for investors, and we've highlighted the top 10 stocks we believe could outperform the market in Q4. Download this report today Losses can exceed deposits |
| | Newspaper Round Up | | Thursday newspaper round-up: Trump, London-only visas, Tata Donald Trump's election as US president denied Hillary Clinton the prize of being the first woman in the White House but could boost the hopes of a female politician across the Atlantic: Marine Le Pen. France is the next big western democracy due to elect its president and a win for the far-right National Front leader in May's election would cause a political earthquake in Europe to rival Mr Trump's victory this week. - Financial Times
Business leaders have outlined their vision of a London-only visa that would allow them to maintain access to foreign labour. Under the proposals from the London Chamber of Commerce and Industry, businesses in the UK capital would be able to sponsor skilled workers with a job offer for a visa. - Financial Times
Tata Steel has been lambasted for considering closing its UK pension scheme before making a £60m payment scheduled for next year. Stephen Kinnock, the Labour MP for Aberavon, said it would be an "absolute disgrace" if Tata closed the scheme without making the payment and said the Indian company had "moral and social responsibilities". - Guardian
Homebuyers are slowly returning to the property market after the uncertainty caused by the referendum, but there are not enough homes to meet demand, according to the Royal Institution of Chartered Surveyors. Its keenly-watched monthly residential market survey reported that buyer inquiries are up for the second month running, but there has been further fall in instructions. - Telegraph
Britain's eight remaining coal-fired power plants will be forced to close by 2025, unless they take the unlikely step of investing vast sums in new technology to slash their carbon emissions. Ministers said the plans, which follow an initial pledge last autumn to phase out coal, would "provide confidence to investors" in new, cleaner gas-fired power plants and help to "significantly reduce emissions from the UK's energy use". - Telegraph
What one analyst called "significant headwinds", dominated by a customer exodus and including, ironically, a distinct lack of puff powering its wind farms have triggered a plunge in profits at SSE. The Perth-based energy supplier, one of the industry's so-called Big Six, said that pre-tax profits had slipped to £475 million in the six months to September 30, from £548 million a year earlier. - The Times
A record number of women have joined the upper ranks of Goldman Sachs as partners as it aims to propel more of them into senior management positions and close the gender gap at the top of the Wall Street bank. Nineteen Goldman Sachs managing directors were told yesterday that they had been promoted to its partnership, including four of the bank's highest- flying Europe-based women bankers. - The Times |
| | 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 
| | |
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