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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 nudge higher despite profit warnings; jobs data eyed Stocks in London edged higher in early trade despite a series of profit warnings, as investors looked to the release of some key jobs data.
At 0830 GMT, the FTSE 100 was up 0.3% to 7,242.94. Meanwhile, oil prices ticked higher, with West Texas Intermediate up 0.4% to $52.69 a barrel and Brent crude up 0.5% to $55.75.
In currency markets, the pound was down 0.5% to $1.2339, having made strong gains in the previous session on the back of Prime Minister Theresa May's Brexit speech.
Spreadex's Connor Campbell said: "That leaves most of the currency's post-May Brexit speech gains intact it does suggest that investors aren't too keen to send it above $1.24 and €1.16 respectively. As for the FTSE, sterling's early shyness only helped it post a meagre five point rise, meaning the index is still more than 100 points from the highs it hit at the start of the week.
"The focus this morning is likely to remain on the pound as it processes the UK jobs data. For the three months to the end of November wage growth is expected to creep up to a fresh one year-plus high, with the unemployment rate forecast to come in unchanged at 4.8%. The claimant count change reading for December, meanwhile, is set to rise to 4.6k from 2.4k, though with some chunky revisions likely to be made to that latter number. If accurate these figures probably aren't enough to inspire another round of remarkable growth for the pound, though it could ease its current losses."
The UK claimant count, unemployment rate and average earnings are due at 0930 GMT. In the US, the consumer price index is at 1330 GMT and the NAHB housing market index is at 1500 GMT.
In corporate news, Burberry edged higher after posting 4% growth in underlying retail sales for the third quarter, boosted by a return to growth for the Asia Pacific region but with the Americas still in decline.
Ladbrokes Coral was on the front foot as it said 2016 profit is likely to rise in line with market and management expectations.
Vodafone pushed up after announcing that it and TDC Group have agreed to renew their strategic partnership for Denmark and Norway, building on a successful fifteen-year relationship that began in 2001.
On the downside, education publisher Pearson - which has already issued a string of profit warnings in recent years - tanked after it cut its profit forecast for this year and said the dividend will be lower.
Outsourcer Mitie was also under the cosh following its third profit warning since September and as it announced the appointment of a new finance director.
Shares in Premier Foods, which owns the Mr Kipling and Bisto brands, were also hit by a profit warning, as the company said trading profit for full-year 2016/17 is now expected to be 10% lower than previously anticipated, and announced a cost saving and efficiency programme.
Pub group JD Wetherspoon nudged lower after saying it expects profits to drop in the second half of the year due to rising costs and weaker sales.
Information services company Experian was on the back foot after reporting a 4% rise in third-quarter organic revenue as it maintained its guidance for the full year. |
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| Market Movers
FTSE 100 (UKX) 7,242.94 0.31%
FTSE 250 (MCX) 18,240.29 -0.00%
techMARK (TASX) 3,384.45 0.30%
FTSE 100 - Risers
Dixons Carphone (DC.) 352.40p 1.70%
Burberry Group (BRBY) 1,619.00p 1.63%
Mondi (MNDI) 1,765.00p 1.55%
British American Tobacco (BATS) 4,648.50p 1.50%
Compass Group (CPG) 1,444.00p 1.33%
Unilever (ULVR) 3,363.50p 1.29%
Reckitt Benckiser Group (RB.) 6,854.00p 1.21%
HSBC Holdings (HSBA) 674.50p 1.14%
United Utilities Group (UU.) 896.00p 1.01%
InterContinental Hotels Group (IHG) 3,719.00p 0.90%
FTSE 100 - Fallers
Pearson (PSON) 616.50p -23.70%
Capita (CPI) 500.00p -3.38%
Experian (EXPN) 1,540.00p -2.41%
Royal Mail (RMG) 440.90p -1.36%
Taylor Wimpey (TW.) 171.00p -1.16%
International Consolidated Airlines Group SA (CDI) (IAG) 486.00p -1.12%
Barratt Developments (BDEV) 515.50p -1.06%
Standard Life (SL.) 348.40p -0.88%
Barclays (BARC) 229.80p -0.78%
Anglo American (AAL) 1,314.00p -0.76%
FTSE 250 - Risers
Hochschild Mining (HOC) 243.00p 4.38%
Ladbrokes Coral Group (LCL) 129.30p 3.86%
Spectris (SXS) 2,488.00p 3.32%
Henderson Group (HGG) 240.60p 2.34%
PZ Cussons (PZC) 335.30p 1.61%
Capital & Counties Properties (CAPC) 284.10p 1.25%
Britvic (BVIC) 593.00p 1.19%
Smith (DS) (SMDS) 432.10p 1.17%
Rightmove (RMV) 4,132.00p 1.08%
Booker Group (BOK) 186.60p 0.97%
FTSE 250 - Fallers
Mitie Group (MTO) 186.00p -9.49%
Inmarsat (ISAT) 667.00p -5.39%
Crest Nicholson Holdings (CRST) 499.80p -2.19%
International Personal Finance (IPF) 168.60p -1.98%
Redefine International (RDI) 39.69p -1.76%
SSP Group (SSPG) 390.40p -1.56%
John Laing Group (JLG) 260.00p -1.44%
Virgin Money Holdings (UK) (VM.) 307.00p -1.29%
Essentra (ESNT) 438.20p -1.28% |
| | Share tips 2017 Prudential low risk International insurance and investment product supplier Prudential has had a successful 2016 with the company raising its dividend, reporting an increase in profits whilst all the time continuing to benefit from favourable structural opportunities in its key markets, particularly in Asia. Investors should appreciate that although the group’s Asian exposure is a risk due to the volatility of Asian markets, the demographics of many Asian regions, and the rise of the middle class, should provide a good growth story for Prudential for some time to come. Prudential believes it has adequate capital surplus to withstand further significant deterioration in the European market, which should provide some reassurance to investors. Furthermore, the group’s asset management business M&G continues its expansion into Europe and its retail funds are registered for sale in 20 regions. Ultimately, this is a company which has a good mix of business across a number of regions, with a long-term Asia growth story underpinning the investment case. Read More... Capital at Risk |
| | UK Event Calendar | | Wednesday 18 January
INTERIMS
Best of the Best
INTERIM DIVIDEND PAYMENT DATE
British Smaller Companies VCT, Circle Property , Ventus VCT D Shs, Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus 2 VCT D Shs, Ventus VCT, Ventus VCT 'C' Shares
QUARTERLY PAYMENT DATE
Assura
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (14:15)
Consumer Price Index (EU) (10:00)
Consumer Price Index (GER) (07:00)
Consumer Price Index (US) (13:30)
Industrial Production (US) (14:15)
MBA Mortgage Applications (US) (12:00)
Q3
Axis Bank Ltd GDR (Reg S)
SPECIAL DIVIDEND PAYMENT DATE
British Smaller Companies VCT
AGMS
Diploma, Game Digital, Majedie Investments
TRADING ANNOUNCEMENTS
Ladbrokes Coral Group
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
Focusrite, Northamber
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks waver as investors sift through earnings European stocks wavered in early trade as investors sifted through some corporate news, with updates from Burberry, ASML and Novozymes providing some cheer.
At 0850 GMT, the benchmark Stoxx Europe 600 index was down 0.1%, Germany's DAX was up 0.1% and France's CAC 40 was 0.3% lower. Meanwhile, oil prices edged higher, with West Texas Intermediate up 0.6% to $52.78 a barrel and Brent crude up 0.7% to $55.88.
Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor, said: "Markets have taken a deep breath and appear to have calmed down for the moment, with European equities largely range bound in early trade. The dramatic move in sterling pushed the FTSE 100 sharply lower yesterday, but we are already seeing sterling give up some of those gains today, as the heat of the moment spike appears to have been overdone.
"Politics and currencies have replaced central banks as the key driver of markets, with Brexit and Donald Trump driving sentiment for investors and volatility rising. The big question for investors is whether the focus on short-term political moves is causing markets to overlook longer term trends and if this market is fair value at current levels."
On the corporate front, Dutch semiconductor supplier ASML and Danish biotechnology group Novozymes both rallied after better-than-expected fourth-quarter reports.
Meanwhile, luxury retailer Burberry edged higher after it reported 4% growth in underlying retail sales for the third quarter, boosted by a return to growth for the Asia Pacific region but with the Americas still in decline.
On the downside, however, education publisher Pearson - which has already issued a string of profit warnings in recent years - tanked after it cut its profit forecast for this year and said the dividend will be lower. |
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| | Newspaper Round Up | | Wednesday newspaper round-up: Retailers, Deliveroo, Davos Almost three-quarters of international retailers are choosing to expand outside of the UK because of this country's burdensome and complex business rates system, fresh figures have shown. The findings come at a time when British firms are chastising the Government's proposals to overhaul an appeals procedure which will limit companies' powers to challenge incorrect business rate rises and face looming bill increases in an April revaluation. - Telegraph
Deliveroo plans to employ hundreds of new staff at a new London headquarters, trebling its current engineering headcount. The British food delivery company plans to hire 300 software and hardware engineers at an office in Canon Street this summer to work on technology such as the Deliveroo app and logistics systems. - Telegraph
Nurses, teachers and firefighters' pay will drop by thousands of pounds in real terms by the end of the decade unless the government softens its stance on public sector salaries, the TUC has said in a new analysis. The trades union organisation calculated that midwives, teachers and social workers will see their real pay, which accounts for the impact of inflation, drop by more than £3,000 by 2020 if the government sticks to plans to limit salary increases to 1% a year. - Guardian
China's premier, Xi Jinping, has delivered a strong defence of globalisation, serving notice to Donald Trump that Beijing will seek to usurp America's traditional role as the champion of free trade and open markets. Xi used an hour-long address to the World Economic Forum (WEF) to take a number of sideswipes at the US president-elect, attacking Trump's protectionist views without mentioning him by name. - Guardian
Mitsui has become the first Japanese company to join the increasingly international list of operators with their hands on the controls of Britain's railways by buying a 40 per cent stake in the East Anglia train franchise. Its eyes, however, may be fixed firmly further down the line. Mitsui's arrival on the British railways is likely to herald an assault by the Japanese industrial giant on the greatest prize of all: the tender later in the year to operate the trains on HS2. - The Times |
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