| | | | | | | 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 edge down after Wednesday's record closing high London stocks nudged lower in early trade as investors took a breather after the index closed at an all-time high on Wednesday.
At 0830 GMT, the FTSE 100 was down 0.3% to 7,088.55. Meanwhile, oil prices ticked a touch higher, with West Texas Intermediate up 0.2% at $53.96 a barrel and Brent crude up 0.3% at $56.40.
On Wednesday, the index closed up 0.5% at 7,106.08, which was above the record of 7,103.98 set on 27 April 2015, buoyed by strength in the mining sector.
Mike van Dulken, head of research at Accendo Markets, said: "Bulls need to see a break above overnight highs of 7,085 while bears will want to see 7,065 to confirm a break of yesterday's lows and the aforementioned rising channel."
Investors were digesting the latest figures from mortgage lender Nationwide, which showed that house prices rose more than expected in December.
Annual house price growth was 4.5%, up from 4.4% the month before and beating expectations of 3.8% growth.
On the month, house prices were up 0.8% having been flat in November, and ahead of expectations for 0.2% growth. Meanwhile, the average house price was £205,898 versus £204,947 last month.
Nationwide said house prices are expected to rise about 2% next year, depending on the economy.
Robert Gardner, Nationwide's chief economist, said: "Looking ahead to 2017, house price prospects will depend crucially on developments in the wider economy, around which there is a greater degree of uncertainty than usual.
"Like most forecasters, including the Bank of England, we expect the UK economy to slow modestly next year, which is likely to result in less robust labour market conditions and modestly slower house price growth.
"But we continue to think a small gain - around two percent - is more likely than a decline over 2017 as a whole, since low interest rates are expected to help underpin demand while a shortage of homes on the market will continue to provide support for house prices."
Howard Archer, chief UK and European economist at IHS Markit, said: "We believe the fundamentals for house buyers will progressively deteriorate during 2017 with consumers' purchasing power weakening markedly and the labour market likely softening.
"Increasing economic uncertainty is also likely to weigh down on consumer confidence and willingness to engage in major transactions such as buying a house. Housing market activity and prices are also likely to be pressurized by stretched house prices to earnings ratios and tight checking of prospective mortgage borrowers by lenders."
Randgold Resources and Fresnillo advanced as gold prices pushed higher.
Elsewhere, BT, Experian and Dixons Carphone were all ex-dividend on Thursday.
There are no major UK data releases due, but in the US, initial jobless claims and wholesale inventories are at 1330 GMT. |
| | 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 |
| Market Movers
FTSE 100 (UKX) 7,088.55 -0.25%
FTSE 250 (MCX) 17,984.32 -0.16%
techMARK (TASX) 3,360.69 -0.31%
FTSE 100 - Risers
Fresnillo (FRES) 1,194.00p 2.05%
Randgold Resources Ltd. (RRS) 6,245.00p 2.04%
Hikma Pharmaceuticals (HIK) 1,843.00p 1.15%
Mediclinic International (MDC) 767.50p 0.66%
British Land Company (BLND) 624.50p 0.32%
Informa (INF) 674.50p 0.30%
Relx plc (REL) 1,445.00p 0.28%
United Utilities Group (UU.) 896.00p 0.22%
Next (NXT) 4,937.00p 0.22%
Compass Group (CPG) 1,473.00p 0.20%
FTSE 100 - Fallers
Dixons Carphone (DC.) 348.70p -1.13%
BT Group (BT.A) 364.10p -1.07%
Rio Tinto (RIO) 3,139.50p -0.85%
Hammerson (HMSO) 553.00p -0.81%
Glencore (GLEN) 274.70p -0.79%
Smiths Group (SMIN) 1,424.00p -0.77%
Barclays (BARC) 223.15p -0.71%
London Stock Exchange Group (LSE) 2,838.00p -0.70%
Lloyds Banking Group (LLOY) 63.14p -0.65%
Experian (EXPN) 1,563.00p -0.64%
FTSE 250 - Risers
CMC Markets (CMCX) 115.00p 3.23%
Ted Baker (TED) 2,848.00p 2.78%
Hochschild Mining (HOC) 202.40p 2.64%
Rank Group (RNK) 197.80p 2.06%
Hastings Group Holdings (HSTG) 249.00p 2.01%
Shawbrook Group (SHAW) 276.50p 1.73%
Acacia Mining (ACA) 372.80p 1.69%
Fisher (James) & Sons (FSJ) 1,608.00p 1.45%
AO World (AO.) 189.60p 1.23%
Centamin (DI) (CEY) 136.00p 1.19%
FTSE 250 - Fallers
Jardine Lloyd Thompson Group (JLT) 951.00p -2.41%
Polypipe Group (PLP) 315.00p -2.30%
Brown (N.) Group (BWNG) 220.20p -2.18%
Vedanta Resources (VED) 880.50p -2.17%
Brewin Dolphin Holdings (BRW) 294.50p -2.09%
NewRiver REIT (NRR) 337.60p -1.69%
Redefine International (RDI) 37.50p -1.65%
Meggitt (MGGT) 459.10p -1.48%
Kaz Minerals (KAZ) 359.50p -1.37% |
| | 2016 market review One City commentator provided what may prove the pithiest and most accurate summary of the last 12 months: “2016 – not for the faint-hearted.” Remarkably, he was speaking not at the end of the year but close to its beginning, when the big story was an apparently endless share price crash on the Shanghai stock market, and associated fears that the emerging market boom had very definitely gone bust. Read More... |
| | Thursday December 29
INTERIM EX-DIVIDEND DATE
Anglo Pacific Group, BT Group, Dixons Carphone , Ensor Holdings, Fulcrum Utility Services Ltd. (DI), Halma, KCOM Group, Octopus AIM VCT, OPG Power Ventures, Polar Capital Holdings, Real Good Food , RPC Group
QUARTERLY EX-DIVIDEND DATE
Funding Circle SME Income Fund, Schroder Income Growth Fund, Value and Income Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (16:30)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
Wholesales Inventories (US) (13:30)
SPECIAL DIVIDEND PAYMENT DATE
Polymetal International
EGMS
Datang International Power Generation Co Ltd.
AGMS
Altona Energy, Avanti Communications Group, SimiGon Ltd. (DI), Webis Holdings
FINAL EX-DIVIDEND DATE
Cambria Automobiles, Game Digital, Grainger, Inland Homes, ITE Group, Oakley Capital Investments Ltd. (DI), Proactis Holdings, Schroder Asia Pacific Fund, Schroder UK Mid Cap Fund |
| | 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 |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge lower as resources retreat European stocks edged lower in early trade, with resources under the cosh following a solid performance on Wednesday.
At 0850 GMT, the benchmark Stoxx Europe 600, Germany's DAX and France's CAC 40 were all down 0.3%.
Meanwhile, oil prices ticked a touch higher, with West Texas Intermediate up 0.2% at $53.96 a barrel and Brent crude up 0.3% at $56.40.
In London, investors were digesting the latest figures from mortgage lender Nationwide, which showed that house prices rose more than expected in December.
Annual house price growth was 4.5%, up from 4.4% the month before and beating expectations of 3.8% growth. On the month, house prices were up 0.8% having been flat in November, and ahead of expectations for 0.2% growth. Meanwhile, the average house price was £205,898 versus £204,947 last month.
Nationwide said house prices are expected to rise about 2% next year, depending on the economy.
On the corporate front, Banca Monte dei Paschi di Siena was in focus again after Italy's economy minister, Pier Carlo Padoan said the bank's recapitalisation will start in two to three months and that the plan to compensate retail investors has been agreed.
Elsewhere, Credit Suisse was in the red following reports that US authorities are investigating the sale of a bond to Mozambique that was used to buy military equipment instead of tuna fishing. The Stoxx 600 banks index was 0.7% lower.
The Stoxx 600 basic resources index was down 1% following strong gains in the previous session, but precious metals miners Randgold Resources and Fresnillo gained on the back of rising gold prices. |
| | 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 |
| | Newspaper Round Up | | Thursday newspaper round-up: banks, Brexit, finance chiefs Four major US banks handed almost 1,000 of their top City staff at least €1m (£850,000) in pay deals last year. Goldman Sachs, the highest profile Wall Street bank, disclosed that 11 of its key staff received at least €5m in 2015. The disclosures by Goldman, JP Morgan, Morgan Stanley and Bank of AmericaMerrill Lynch show that 971 of their staff received €1m in 2015. - Guardian
Britain faces a decade of disruption after Brexit with low growth, stagnating incomes for the poor and the public finances at breaking point, according to a bleak analysis by a leading thinktank. The report, Britain in the 2020s, by the Institute of Public Policy Research, says Brexit will "profoundly reshape the UK ... painful trade-offs are almost certain. Growth is expected to be lower, investment rates worse, and the public finances weaker as a result of Brexit." - Guardian
Britain's corporate finance chiefs are more optimistic about the future than at any point over the past 18 months, as they bounce back from their Brexit blues of the summer amid the UK's unexpectedly positive economic performance. Wile companies remain cautious about launching big new investments, their appetite for hiring is rebounding, according to Deloitte's survey of chief finance officers (CFOs). - Telegraph
The Government's pledge to ease the burden of next year's massive rise in business rates will provide a "paltry" £156m of relief in London over the next five years as the capital's bill soars by £9.4bn, new research reveals. Experts said the owners of London's 300,000 business premises faced a "ticking tax time bomb" that has led to warnings by top restaurant chains that the revaluation will force many out of business. - Guardian
Plans for a "hard Brexit" could drive more businesses to the wall next year, according to insolvency experts who say that the EU referendum result has harmed companies' finances. Almost three quarters of insolvency practitioners predict that corporate failures will rise by the end of 2017, with manufacturing, retail and financial services thought to be most at risk, according to the Association of Business Recovery Professionals, known as R3. - 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