| | | | | | | The Brexit Rollercoaster. Take your position for the trading ride of your life, at City Index. The Brexit effect means constant uncertainty. Will the pound be up or down? Are businesses feeling confident? At City Index you can trade FX from just 0.5 points. Seize the opportunity today. And hold on to your hat. 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 drift lower in quiet trade Stocks in London drifted lower at the start of what is likely to be a very quiet week in the run-up to Christmas.
The FTSE 100 was down 0.2% to 6,994.90. Meanwhile, oil prices edged higher, with West Texas Intermediate up 0.4% at $52.13 a barrel and Brent crude up 0.6% to $55.54.
Spreadex's Connor Campbell said: "It may be the start of the final week before Christmas, but so far the European markets are looking rather Santa-less this Monday.
"To be fair, the FTSE has actually had a rather impressive December already, finally climbing back above 7,000 last Friday, so it can be forgiven for not drastically building on that level this morning. The index is still flirting with that landmark level, though currently it lacks the kind of momentum that could lead it to a fresh all-time high later in the day. As for the pound, it's still struggling below 1.25 against the dollar, while against the dollar it has shed 0.2%."
In corporate news, oil giant BP edged higher after signing an agreement to take a 10% stake in Abu Dhabi's ADCO onshore oil concession for an undisclosed sum. BP also said on Monday that it will invest nearly $1bn in a natural gas field off the coast of West Africa as it struck a deal with Kosmos Energy.
Electra Private Equity was in the black as it said it will receive roughly £405m proceeds from the £1.35bn sale of Parkdean Resorts to Canadian investors Onex Corporation.
Investment manager Brewin Dolphin nudged up after announcing that it will buy Duncan Lawrie Asset Management for £25.5m along with a payment of £2.5m, to reflect the value of net assets in the business.
On the downside, FTSE 250 intellectual property-based business developer IP Group retreated as it announced the creation of Microbiotica, which it described as a newly formed spin-out company from the Wellcome Trust Sanger Institute established to commercialise the institute's research into the role of the human microbiome in disease.
Carnival shares slumped as Berenberg downgraded its stance on the stock to 'hold' from 'buy' and cut the price target to 4,000p from 4,200p.
More broadly, investors were digesting news that China has agreed to return a US underwater drone that was taken by a Chinese naval vessel in the South China Sea last Thursday, which helped to assuage concerns about diplomatic tensions between the two countries.
There are no major UK data releases due. |
| | Get the inside track on Social/Copy Trading | | Leading industry professionals David Jones and Tim Morris have created a free weekly newsletter called "The Social Trading Review" which highlights traders worthy of your attention. Every week they publish a fresh review of a Top Trader sent directly to you via the tradesignaller app or email. Reviewing their trading style, preferred markets, risk management and performance to date in a comprehensive report. Sign up and get Trader Focus, with comment from leading traders and a free multi part guide to social trading. Social Trading Review Click Here |
| Market Movers
FTSE 100 (UKX) 6,994.90 -0.24%
FTSE 250 (MCX) 17,803.50 0.11%
techMARK (TASX) 3,330.81 -0.28%
FTSE 100 - Risers
Mediclinic International (MDC) 736.00p 1.52%
Capita (CPI) 497.40p 1.49%
Hammerson (HMSO) 561.00p 1.36%
Persimmon (PSN) 1,727.00p 1.23%
Unilever (ULVR) 3,186.50p 1.09%
British Land Company (BLND) 635.50p 1.03%
Intu Properties (INTU) 275.70p 0.99%
TUI AG Reg Shs (DI) (TUI) 1,119.00p 0.90%
Severn Trent (SVT) 2,199.00p 0.73%
Hikma Pharmaceuticals (HIK) 1,805.00p 0.73%
FTSE 100 - Fallers
Carnival (CCL) 3,958.00p -2.70%
Anglo American (AAL) 1,110.00p -2.03%
Standard Chartered (STAN) 673.50p -1.68%
AstraZeneca (AZN) 4,328.00p -1.66%
BHP Billiton (BLT) 1,284.00p -1.61%
Barclays (BARC) 224.50p -1.60%
Rio Tinto (RIO) 3,043.00p -1.57%
Antofagasta (ANTO) 659.50p -1.57%
HSBC Holdings (HSBA) 657.50p -1.41%
Old Mutual (OML) 196.80p -1.20%
FTSE 250 - Risers
Paysafe Group (PAYS) 351.80p 7.06%
Drax Group (DRX) 345.20p 6.54%
Nostrum Oil & Gas (NOG) 440.00p 4.45%
Ascential (ASCL) 275.70p 4.39%
NMC Health (NMC) 1,512.00p 4.35%
CMC Markets (CMCX) 111.50p 2.58%
Caledonia Investments (CLDN) 2,562.00p 2.48%
Redefine International (RDI) 38.10p 1.84%
Marston's (MARS) 135.30p 1.50%
Unite Group (UTG) 579.50p 1.49%
FTSE 250 - Fallers
Evraz (EVR) 254.50p -3.27%
Acacia Mining (ACA) 346.30p -2.72%
Polypipe Group (PLP) 300.00p -2.72%
Kaz Minerals (KAZ) 359.60p -2.68%
PayPoint (PAY) 922.00p -2.43%
Polymetal International (POLY) 757.00p -2.26%
Marshalls (MSLH) 276.70p -2.23%
Hochschild Mining (HOC) 199.20p -2.16%
SVG Capital (SVI) 709.00p -1.53% |
| | The US after Trump election, and a letter from America A lot are horrified, others may just not like to admit to it. I have just returned from a trip to Utah, a state that voted for Donald Trump, I was there for a conference, but I thought I would share with you what I learned. The headlines might proclaim there are two Americas. There is the version consisting of the coastal regions on the west and north east and various pockets in-between, they voted Clinton, and then there is the large part of the interior that voted Trump. A letter from America But I learned that even in the midst of the most conservative state in the United States, the attitude towards the idea of a Trump presidency was pretty similar to the attitudes I hold, which, to put it gently, is not that positive.Of course, opinion is mixed, as it is in the UK over Brexit, and people voted the way they did for multiple reasons. Just as some people voted Brexit as a vote against immigration, while others voted for Brexit as they are pro-immigration but don't see why immigration policy should be tilted in favour of Europeans, the motivations for why people voted the way they did were numerous. Read More... |
| | UK Event Calendar | | Monday December 19
INTERIMS
Collagen Solutions
INTERIM DIVIDEND PAYMENT DATE
Aquila Services Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
AGMS
Akers Biosciences, Inc. , Management Resources Solutions , Proactis Holdings, World Careers Network
FINAL DIVIDEND PAYMENT DATE
Aberdeen Frontier Markets Investment Company, Fidelity Special Values, Lok'n Store Group, Sanditon Investment Trust, St Ives, Utilitywise plc
|
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge lower; Danone drops on sales growth warning European stocks edged lower in early trade as volumes began to taper off in the run-up to Christmas, with Danone under the cosh after a warning over its 2016 sales growth.
At 0845 GMT, the benchmark Stoxx Europe 600 index was down 0.3%, Germany's DAX was off 0.1% and France's CAC 40 was 0.4%, weaker.
Meanwhile, oil prices advanced, with West Texas Intermediate up 0.8% at $52.33 a barrel and Brent crude up 0.7% to $55.60.
Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor, said; "European equities are trading slightly lower in early trade, with oil stocks higher and banks and mining stocks under pressure.
"As we run up to Christmas, with little corporate news, the expectation is that markets will remain relatively quiet - however, Donald Trump may provide some volatility for investors in the shape of a diplomatic spat with China. While no one expects the USA and China to be best friends, moving away from the current status quo into a frosty relationship could provide an unwelcome backdrop for markets."
The Stoxx 600 basic resources index fell 1.5%, while the corresponding sub-index for banks was down 0.7%.
Investors were digesting news that China has agreed to return a US underwater drone that was taken by a Chinese naval vessel in the South China Sea last Thursday, which helped to assuage concerns about diplomatic tensions between the two countries.
In corporate news, Danone lost ground after the French food company said sales growth for 2016 will be slightly below its target due to weakness in the fresh dairy business in the fourth quarter.
Elsewhere, oil giant BP edged higher after signing an agreement to take a 10% stake in Abu Dhabi's ADCO onshore oil concession for an undisclosed sum. BP also said on Monday that it will invest nearly $1bn in a natural gas field off the coast of West Africa as it struck a deal with Kosmos Energy.
Carnival shares slumped as Berenberg downgraded its stance on the stock to 'hold' from 'buy' and cut the price target to 4,000p from 4,200p.
Still to come, investors will eye the release of the German Ifo survey at 0900 GMT. |
| | Seize the opportunity: a time-limited high-yielding prospect in the UK renewables market | | The UK Government has a current renewable energy incentive scheme is on its way. FRE plc has locked in pre-accredited tariff income for the next 20 years. Our secured bonds are paying fixed returns of 7-11% over 3-5 years. Invest in the energy of the future – today (capital at risk.) Tell me more |
| | US Market Report | | US close: Stocks edge lower even as dollar stabilises Wall Street finished lower on Friday even as the dollar and government bond yields stabilised following gains in the wake of a more hawkish-than-expected Federal Reserve over the week, while oil prices advanced.
The Dow Jones Industrial Average off 0.04% to 19,843.41, the S&P 500 declined 0.18% or 3.96 points to 2,258.07 and the Nasdaq was off 0.36% to 5,437.16.
The dollar hit its highest level since 24 December 2002 on Thursday, with the US dollar spot index reaching 103.02. On Friday, it was down to 102.95, steadying after the greenback and treasury yields surged on the back of the Fed's hawkish outlook, with the yield on the benchmark 10-year US Treasury note little changed at 2.59%.
On Wednesday, the Fed raised rates by 25 basis points to a target range between 0.50% and 0.75%, and surprised with a forecast of a further three rate hikes next year.
Michael Hewson, chief market analyst at CMC Markets, said: "The dollar is pausing for breath on some of its recent gains after hitting multi year highs against a basket of currencies. A softening in bond yields is also helping in this regard with gains for the euro after it hit multi year lows against the greenback."
Meanwhile, oil prices were in the green as Brent crude rose as West Texas Intermediate increased 80 cents to $51.90 per barrel.
Gold on Comex gained $7.40 to 1,137.40 per troy ounce.
Hewson added that the big question was whether the Dow could hit the 20,000 level that it has been flirting with this week.
"Thus far it has fallen short and the likelihood is that the opportunity to do it this week has passed. Even if we fall short we've still seen a decent week for US equities, trading as they continue to do at record levels. The big question is how a strong dollar and a strong US equity market can co-exist at a time when all we have had at the moment is promises of fiscal action, and higher rates.
"Since 8 November the Dow has rallied 9%, the S&P 500 over 6% and the Russell 2000 has gained over 14%, how much of market expectations of what President-elect Trump can deliver are now priced in," he said.
On the data front, housing starts dropped 18.7% in November, from a nine-year high, to a seasonally adjusted rate of 1.09m, from 27.4% the previous month. This was more than the expected 7% fall.
Permits of housing in the pipeline fell 4.7% to 1.2m, from 2.9% in September. Analysts had expected a 1.6% decline.
In corporate news, Viacom was up 1.28% as the media company announced that chairman emeritus Sumner Redstone will resign in February.
Netflix edged lower 0.62% even after the company announced late on Thursday that it has inked an exclusive deal to stream all the films of Bollywood superstar Shah Rukh Khan.
Software company Oracle was down 4.31% after its second-quarter earnings on Thursday narrowly beat estimates, but revenue missed.
US-listed shares of TiGenix NV rose 7% a day after it priced its initial public offering.
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $163.94 2.07%
General Electric Co. (GE) $31.75 1.57%
Travelers Company Inc. (TRV) $121.60 1.00%
Verizon Communications Inc. (VZ) $52.27 0.89%
Chevron Corp. (CVX) $118.08 0.88%
3M Co. (MMM) $177.45 0.81%
McDonald's Corp. (MCD) $123.24 0.72%
Boeing Co. (BA) $154.50 0.47%
Coca-Cola Co. (KO) $41.74 0.46%
United Technologies Corp. (UTX) $108.52 0.36%
Dow Jones - Fallers
Caterpillar Inc. (CAT) $92.58 -2.06%
Goldman Sachs Group Inc. (GS) $238.90 -1.69%
Visa Inc. (V) $78.35 -1.45%
Intel Corp. (INTC) $36.31 -1.30%
JP Morgan Chase & Co. (JPM) $84.94 -1.23%
International Business Machines Corp. (IBM) $166.73 -0.77%
Nike Inc. (NKE) $50.92 -0.72%
Home Depot Inc. (HD) $135.11 -0.54%
Walt Disney Co. (DIS) $103.91 -0.46%
Microsoft Corp. (MSFT) $62.30 -0.45% |
| | The Top Stock Picks for 2017 | | This comprehensive report looks the 10 hottest prospects for the coming 12-months, asks whether 2017 will pick up where 2016 left off, covers the trailblazers, rangers, and a potential comeback king, and provides broker consensus and an average target price for each stock assessed. Download here Losses can exceed deposits |
| | Newspaper Round Up | | Monday newspaper round-up: Hiring optimism, coal collapse, Apple fight Two out of five British companies plan to recruit more staff next year, despite the uncertainty created by the vote to leave the European Union. The "renewed optimism" among businesses is a marked change from March, when the CBI, the UK's biggest business lobby group, said that the economy could lose 950,000 jobs by 2020 as a result of Brexit. - The Times
The Chinese government triggered a surprise boom in coal prices this year, delivering a surprise windfall to hard-up miners - now experts are warning that the reversal of the policy will lead to a drop in prices that is just as sharp. This year Beijing decreed that coalmines could operate only 276 days a year rather than 330 and the result was a spectacular rebound in prices, especially for coal used in steel-making, as the world's biggest consumer turned to overseas markets. - The Times
The world's oldest bank has made a last-ditch attempt to convince tens of thousands of ordinary Italian savers to help it escape state hands. Monte dei Paschi, Italy's third biggest bank, wants 40,000 retail investors to take part in a complex €5bn (£4.18bn) bailout, which was almost derailed by the country's recent constitutional referendum. - Telegraph
Apple is set for a fight with the European Commission over a ruling that it must pay the Republic of Ireland more than €13 billion in tax, describing parts of the judgment as having "no basis in law". In submitting its formal appeal today against a ruling issued in August, which claimed that Apple had shifted tens of billions of dollars in profit into "stateless" affiliates based in Ireland, where it received unfair tax breaks, the iPhone maker claims that the commission has misinterpreted both Irish and international law. - The Times
The UK's 10 biggest house builders are sitting on 14 years' worth of land, on which almost one million homes could potentially be built, Shelter has claimed. Research carried out by the housing charity found that the listed firms control 404,000 plots through their current land banks, and a further 558,000 plots in so-called "strategic land banks". - Telegraph
Talks aimed at averting strikes by British Airways cabin crew over Christmas will be held on Monday. Unite union members based at Heathrow are due to walk out on Christmas Day and Boxing Day in a dispute over pay. - Guardian
Lawmakers from around the world have written to financial regulators and stock exchanges calling for stronger disclosure of financial risks related to climate change. Many assets related to a carbon-intensive economy may now be mis-priced after the ratification last month of the Paris agreement on climate change, 145 parliamentarians from 34 countries say in a letter published today in The Times. - The Times
More action may be needed to protect the financial services industry from a devastating cyber-attack, the head of the Treasure select committee has suggested. Andrew Tyrie MP wrote to Ciaran Martin, head of the new cybersecurity centre of UK surveillance agency GCHQ, saying the lines of responsibility and accountability for reducing cyber-threats are opaque. - Guardian
Labour's industrial spokesperson has called for the algorithms used by technology firms to be made transparent and subject to regulation, as the party prepares the new year launch of its industrial strategy consultation. Shadow minister Chi Onwurah wants to see greater scrutiny of the mathematical formulas that now control everything from the tailored news served to Facebook members to the speed at which workers are required to move around an Amazon warehouse. - Guardian
A housing association is teaming up with a Chinese-state owned company to build 25,000 pre-fabricated homes over the next five years. As part of the £2.5 billion deal, which has the support of the government, the China National Building Material Company will build six factories in Britain, creating 1,000 new jobs. - 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