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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 in the black as investors eye Autumn Statement Stocks in London rose in early trade, taking their cue from an upbeat session in the US, where the Dow closed above 19,000 for the first time ever, as investors eyed the Autumn Statement.
At 0825 GMT, the FTSE 100 was up 0.8% to 6,870.80.
Meanwhile, oil prices were just a touch higher following a choppy session on Tuesday. West Texas Intermediate and Brent crude were up 0.2% to $48.12 a barrel and $49.21, respectively. Prices had risen sharply in the previous session amid growing expectations that OPEC members and non-OPEC Russia would agree a production cut at next week's meeting.
However, they came off following a Bloomberg report that Iran, Iraq and Indonesia had reservations regarding a proposed 4.5% production cut by all members except Libya and Nigeria.
In currency markets, the pound was down 0.1% versus the dollar at 1.2409.
FXTM research Analyst Lukman Otunuga said: "With the the sensitive Brexit situation still a dominant theme in the markets, today's Autumn Statement could provide a unique touch. If the economic forecasts for next year highlight the Brexit impacts and paint a gloomy picture, then Sterling could be exposed to further downside risks. On the other hand, an aggressive outlook pointing to a stronger economic recovery may recreate another mystery move on sterling similar to Monday's sharp upsurge."
The Autumn Statement is at 1230 GMT.
Societe Generale said: "The resilient economic data after the initial shock of the Brexit vote have dampened expectations of a major fiscal stimulus. We expect the boost to be limited to infrastructure spending of no more than 1% of GDP on a cumulated basis. The deficit path will be revised up significantly which will force him to impose further austerity but only in the context of new more flexible fiscal rules which will enable him to delay those cuts until the early 2020s."
In corporate news, United Utilities rose as it reported a small jump in underlying first-half profit and lifted its interim dividend.
Property investor Hammerson edged higher after agreeing to buy four outlet centres in Europe worth a combined €587m (£502m), in order to expand in the territory.
GlaxoSmithKline gained as it said its mepolizumab medicine met Phase 3 trial endpoints.
Thomas Cook surged. Although the travel company posted a drop in revenue and profit for the year to the end of September, the figures came in ahead of expectations.
Softcat nudged up after saying it has seen a good start in the first quarter but that it expects operating profit for the year to be weighted towards the second half.
On the downside, CMC Markets was in the red as it reported a slump in revenue and profits for the first half. |
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| Market Movers
FTSE 100 (UKX) 6,854.57 0.51%
FTSE 250 (MCX) 17,749.22 0.40%
techMARK (TASX) 3,297.92 0.49%
FTSE 100 - Risers
Fresnillo (FRES) 1,318.00p 2.81%
Wolseley (WOS) 4,743.00p 2.64%
Randgold Resources Ltd. (RRS) 5,945.00p 2.24%
Micro Focus International (MCRO) 2,141.00p 1.90%
BHP Billiton (BLT) 1,359.00p 1.87%
Glencore (GLEN) 287.70p 1.86%
Compass Group (CPG) 1,349.00p 1.73%
Hargreaves Lansdown (HL.) 1,243.00p 1.55%
Rio Tinto (RIO) 3,120.00p 1.53%
Johnson Matthey (JMAT) 3,290.00p 1.48%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 204.60p -1.54%
Babcock International Group (BAB) 938.00p -0.74%
Tesco (TSCO) 217.55p -0.53%
Barclays (BARC) 211.30p -0.49%
Vodafone Group (VOD) 202.05p -0.49%
Whitbread (WTB) 3,494.00p -0.40%
Admiral Group (ADM) 1,963.00p -0.20%
Standard Chartered (STAN) 644.20p -0.19%
BT Group (BT.A) 365.90p -0.15%
London Stock Exchange Group (LSE) 2,843.00p -0.14%
FTSE 250 - Risers
Hunting (HTG) 535.50p 5.52%
Thomas Cook Group (TCG) 77.00p 4.69%
Evraz (EVR) 274.80p 4.57%
Vectura Group (VEC) 152.00p 3.90%
Acacia Mining (ACA) 423.10p 3.75%
Rotork (ROR) 234.10p 3.31%
Ascential (ASCL) 286.20p 3.10%
Vedanta Resources (VED) 877.00p 2.87%
Paragon Group Of Companies (PAG) 371.80p 2.71%
Centamin (DI) (CEY) 136.00p 2.64%
FTSE 250 - Fallers
Countrywide (CWD) 193.50p -5.43%
CMC Markets (CMCX) 196.40p -3.30%
Savills (SVS) 675.00p -1.60%
Euromoney Institutional Investor (ERM) 995.00p -1.49%
Mitie Group (MTO) 198.60p -1.19%
Softcat (SCT) 300.90p -1.05%
SIG (SHI) 93.10p -0.96%
Pets at Home Group (PETS) 228.40p -0.95%
Redefine International (RDI) 37.00p -0.94% |
| | UK Event Calendar | | Wednesday November 23
INTERIMS
CMC Markets , United Utilities Group, Vectura Group
INTERIM EX-DIVIDEND DATE
Datatec Ltd. (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Durable Goods Orders (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
House Price Index (US) (14:00)
Initial Jobless Claims (US) (13:30)
MBA Mortgage Applications (US) (12:00)
New Homes Sales (US) (15:00)
Q3
Plaza Centers NV
FINALS
Paragon Group Of Companies, Thomas Cook Group
EGMS
Sacoven
AGMS
Base Resources Ltd , Draganfly Investments Ltd., Feedback, Finsbury Food Group, Oilex Ltd., Pantheon International , Prairie Mining Limited, SCS Group
FINAL DIVIDEND PAYMENT DATE
Galliford Try, Henderson EuroTrust, JPMorgan Emerging Markets Inv Trust
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed as investors digest PMIs European stocks were little changed in early trade as investors digested some readings on eurozone services and manufacturing and continued to keep an eye on oil prices.
At 0905 GMT, the benchmark Stoxx Europe 600 index was flat, while Germany's DAX and France's CAC 40 were down 0.1%.
In London, the FTSE 100 was up 0.5% as investors awaited the Autumn Statement at 1230 GMT.
Meanwhile, oil prices were a touch lower following a choppy session on Tuesday. West Texas Intermediate and Brent crude were down 0.2% to $47.93 a barrel and $49.01, respectively. Prices had risen sharply in the previous session amid growing expectations that OPEC members and non-OPEC Russia would agree a production cut at next week's meeting.
However, they came off following a Bloomberg report that Iran, Iraq and Indonesia had reservations regarding a proposed 4.5% production cut by all members except Libya and Nigeria.
In corporate news, Italian insurer Generali was on the back foot after announcing plans to exit less profitable markets and sticking to its 2018 targets.
Safran was also in the red as the French state began selling its shares in the company.
United Utilities rose as it reported a small jump in underlying first-half profit and lifted its interim dividend.
Property investor Hammerson edged higher after agreeing to buy four outlet centres in Europe worth a combined €587m (£502m), in order to expand in the territory.
GlaxoSmithKline gained as it said its mepolizumab medicine met Phase 3 trial endpoints.
Thomas Cook surged. Although the travel company posted a drop in revenue and profit for the year to the end of September, the figures came in ahead of expectations.
On the data front, Markit's flash eurozone manufacturing and services purchasing managers' indexes for November both beat estimates.
The flash manufacturing PMI came in at 53.7 versus expectations of 53.3, while the services PMI printed at 54.1, beating estimates of 52.9. This was up from 53.5 in October and 52.8, respectively.
Chris Williamson, chief business economist at IHS Markit, said: "The preliminary PMI results for November indicate the sharpest monthly increase in business activity so far this year, with plenty of signs that growth will continue to accelerate. |
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| | US Market Report | | US close: Dow ends above 19,000 for the first time US stocks ended in the black on Tuesday, with the Dow Jones closing above 19,000 for the first time ever, although oil prices retreated amid concerns that Iran and Iraq are not prepared to agree on a production cut at next week's OPEC meeting.
The Dow Jones Industrial Average ended up 0.4% to finish at 19,023.87, the S&P 500 rose 0.2% to a record 2,202.94 and the Nasdaq gained 0.3% to a record 5,386.35.
Spreadex's Connor Campbell said: "The one big event this afternoon was the striking, however brief, 19,000 by the Dow Jones. Though it has only managed a 0.2% to 0.3% rise after the bell that was all it took to take the US index above that landmark level, a price is has teased ever since its initial rampage post-election.
"As to what is actually sending it higher despite the dollar taking half a percent back off the pound, it seems that Trump's promise to exit the Trans-Pacific Partnership agreement might have caused investors to cheer the potential safeguarding of jobs in the US (whether or not that will be the result is another discussion altogether)."
Oil prices settled mixed, with West Texas Intermediate down 0.7% at $47.92 a barrel and Brent crude up 0.3% at $49.04. Earlier in the day, WTI hit a high of $49.20 amid growing expectations that OPEC member states would agree to cut production, along with non-OPEC Russia, at the cartel's next meeting on 30 November.
The spike in WTI coincided with a report that a Nigerian delegate had said that all OPEC members were likely to "be on board by the end of the day" following a second day of technical meetings.
However, oil prices came off later in the day following a report by Bloomberg indicating that Iran, Iraq and Indonesia had reservations regarding a proposed 4.5% production cut by all members except Libya and Nigeria.
In currency markets, the dollar was up 0.3% versus the yen, 0.1% firmer against the euro and 0.6% stronger versus the pound as investors bet the Federal Reserve will hike rates next month.
On the data front, the National Association of Realtors revealed that existing home sales rose to their highest level in nearly a decade in October due to increased demand.
Sales of previously owned homes were at a seasonally adjusted annual rate of 5.6m, 2% higher than in September and 5.9% higher than a year ago. This exceeded forecasts of 5.42m.
In corporate news, Dollar Tree surged as the discount chain store owner beat expectations, while Barnes & Noble rose sharply as the bookseller's second-quarter loss was smaller than expected.
Campbell Soup rallied as its profit topped third-quarter forecasts, while Hormel Foods advanced as it posted a rise in fourth-quarter profit and issued upbeat guidance for 2017.
Dr Pepper Snapple was also in the black after it announced a $1.7bn deal to buy antioxidant-infused drinks maker Bai Brands.
On the downside, cyber-security company Palo Alto Networks tumbled as it reported late on Monday that quarterly revenue growth slowed.
Medical devices maker Medtronic fell after its quarterly sales missed expectations and the company cut its profit outlook.
S&P 500 - Risers
United States Steel Corp. (X) $32.21 +11.92%
Dollar Tree Inc (DLTR) $88.68 +8.16%
VF Corp. (VFC) $58.05 +4.97%
Urban Outfitters Inc. (URBN) $39.01 +4.95%
Nucor Corp. (NUE) $62.31 +4.44%
Analog Devices Inc. (ADI) $72.89 +4.40%
Freeport-McMoRan Inc (FCX) $15.12 +4.20%
Monster Beverage Corp (MNST) $45.26 +3.83%
CBRE Group Inc (CBG) $29.70 +3.74%
Campbell Soup Co. (CPB) $57.02 +3.60%
S&P 500 - Fallers
Patterson Companies Inc. (PDCO) $39.56 -16.73%
Medtronic Plc (MDT) $73.60 -8.66%
Mosaic Company (MOS) $27.37 -5.78%
NRG Energy Inc. (NRG) $10.91 -5.30%
Tenet Healthcare Corp. (THC) $16.14 -5.11%
Endo International Plc (ENDP) $16.25 -4.97%
CF Industries Holdings Inc. (CF) $28.39 -4.95%
Edwards Lifesciences Corp. (EW) $85.04 -4.66%
Abbott Laboratories (ABT) $38.10 -4.18%
Cognizant Technology Solutions Corp. (CTSH) $53.18 -3.48%
Dow Jones I.A - Risers
Verizon Communications Inc. (VZ) $49.49 +2.44%
Home Depot Inc. (HD) $130.98 +2.15%
Boeing Co. (BA) $149.52 +1.70%
Intel Corp. (INTC) $35.48 +1.43%
Unitedhealth Group Inc. (UNH) $152.26 +1.23%
E.I. du Pont de Nemours and Co. (DD) $70.91 +1.20%
Wal-Mart Stores Inc. (WMT) $70.12 +1.08%
General Electric Co. (GE) $31.18 +1.00%
Nike Inc. (NKE) $51.71 +0.84%
Caterpillar Inc. (CAT) $93.62 +0.78%
Dow Jones I.A - Fallers
Visa Inc. (V) $79.93 -2.15%
Johnson & Johnson (JNJ) $112.74 -1.97%
Merck & Co. Inc. (MRK) $61.70 -0.96%
Pfizer Inc. (PFE) $31.33 -0.76%
Cisco Systems Inc. (CSCO) $29.89 -0.53%
International Business Machines Corp. (IBM) $162.67 -0.06%
Nasdaq 100 - Risers
Dollar Tree Inc (DLTR) $88.68 +8.16%
Analog Devices Inc. (ADI) $72.89 +4.40%
Monster Beverage Corp (MNST) $45.26 +3.83%
Tesla Motors Inc (TSLA) $191.14 +3.59%
Charter Communications Inc. (CHTR) $272.98 +3.36%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $258.39 +2.94%
Henry Schein Inc. (HSIC) $152.92 +2.94%
Broadcom Limited (AVGO) $177.02 +2.57%
Symantec Corp. (SYMC) $25.11 +2.41%
Liberty Interactive Corporation QVC Group (QVCA) $21.56 +2.33%
Nasdaq 100 - Fallers
Cognizant Technology Solutions Corp. (CTSH) $53.18 -3.48%
Intuitive Surgical Inc. (ISRG) $640.21 -3.30%
Activision Blizzard Inc. (ATVI) $37.17 -3.28%
Vertex Pharmaceuticals Inc. (VRTX) $86.20 -3.20%
Celgene Corp. (CELG) $120.97 -2.57%
Biomarin Pharmaceutical Inc. (BMRN) $85.43 -2.37%
Seagate Technology Plc (STX) $38.96 -2.16%
Illumina Inc. (ILMN) $134.75 -2.04%
Regeneron Pharmaceuticals Inc. (REGN) $398.97 -1.61%
Shire Plc Ads (SHPG) $172.65 -1.41% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: lettings fees, BHS, BA, Lufthansa Britain's landlords will suffer a further blow on Wednesday as Philip Hammond announces a ban on letting agents charging fees to tenants. In his first Autumn Statement, the chancellor will take aim at the charges letting agents can levy on tenants which can include administrative services such as checking references, preparing a tenancy agreement, renewing a tenancy or ending a contract. - Financial Times
The chair of a committee probing the collapse of BHS has asked the regulator whether it can seize Sir Philip Green's assets, which include his multimillion pound yachts, to plug a pensions shortfall. In a letter to Lesley Titcomb, chief executive of The Pensions Regulator, MP Frank Field asked if the regulator could acquire "assets other than cash" from "a person or company from which payment is being sought". - Financial Times
The boss of Heathrow's biggest customer, British Airways, only discovered that building the airport's planned third runway would require the demolition of his airline's head office after looking at a map. Willie Walsh, the chief executive of BA's parent company IAG, claimed that despite the group being responsible for about half of all flights at the London hub, he received no formal warning of the proposed demolition. - Guardian
Germany's flagship carrier Lufthansa said it would cancel nearly 900 flights on Wednesday because of a strike by pilots, causing travel disruption for tens of thousands of passengers in the latest escalation of a long-running pay dispute. The stoppage, called by the pilots' union Cockpit, would start at midnight and affect Lufthansa flights at airports across Germany. - Guardian
Britain's energy market has become so heavily distorted by subsidy payments for suppliers of low-carbon, renewable and nuclear power it is now "completely opaque", Lord Darling of Roulanish claimed last night. During a session of the House of Lords economic affairs committee the former chancellor suggested that the UK's energy market is failing to deliver value for money for consumers and sharply criticised a plethora of government subsidy schemes. - The Times
Housebuilders will receive a major boost in the Autumn Statement today as the Government steps up its affordable housing drive to help address a chronic shortage. Philip Hammond will use his first fiscal statement since becoming Chancellor to announce a £1.4bn funding injection to help thousands more families to buy a home. - Telegraph | | |
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