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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 flat as investors eye retail sales London stocks were little changed in early trade as investors awaited the release of UK retail sales figures.
At 0825 GMT, the FTSE 100 was down 0.1% to 7,270.85. Meanwhile, oil prices were steady, with West Texas Intermediate and Brent crude up 0.2% to $53.44 a barrel and $55.73, respectively.
Mike van Dulken at Accendo Markets said: "In focus today - another light one for macro data - will be UK retail sales growth, forecast to have rebounded to positive in January although the annual pace likely continued to slow from October's 10-year peak. This would add to hotter inflation data and slower wages growth earlier in the week, suggestive of a weaker GBP beginning to bite via higher import prices."
The retails sales data is due at 0930 GMT.
In corporate news, AstraZeneca edged higher after the pharmaceuticals giant reported positive results from its Phase III OLYMPIAD trial of its breast cancer treatment Lynparza (olaparib).
Millennium & Copthorne Hotels gained ground after it reported a dip in 2016 pre-tax profit but said group revenue per available room rose 6.6% to £76.71.
Segro rallied after its full-year earnings per share and net asset value came in ahead of analysts' expectations.
Paper and packaging company Mondi got a boost as JPMorgan Cazenove upgraded its stance on the stock to 'overweight' from 'neutral'.
On the downside, manufacturer Morgan Advanced Materials ticked lower after saying it will sell its Europe-based rotary transfer systems business to Moog, a US manufacturer of motion and fluid control systems, for about €40m on a cash and debt free basis.
Essentra slid after the plastic and fibre products manufacturer issued a profit warning for 2017.
Hansteen nudged lower as it announced it has made an offer for Industrial Multi Property Trust, valuing the group at £25.2m.
Satellite communications provider Inmarsat slumped as UBS downgraded the stock to 'sell' from 'neutral'. |
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| Market Movers
FTSE 100 (UKX) 7,270.85 -0.10%
FTSE 250 (MCX) 18,748.93 0.23%
techMARK (TASX) 3,341.28 0.14%
FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 1,964.00p 2.72%
Mondi (MNDI) 1,872.00p 1.74%
Next (NXT) 3,902.00p 1.30%
Pearson (PSON) 667.00p 1.06%
Dixons Carphone (DC.) 305.40p 0.89%
AstraZeneca (AZN) 4,562.00p 0.83%
Legal & General Group (LGEN) 247.30p 0.69%
Schroders (SDR) 3,066.00p 0.69%
Standard Life (SL.) 369.90p 0.63%
Taylor Wimpey (TW.) 177.90p 0.57%
FTSE 100 - Fallers
Standard Chartered (STAN) 791.60p -2.05%
Barclays (BARC) 234.95p -1.28%
Rio Tinto (RIO) 3,604.00p -1.18%
Anglo American (AAL) 1,354.50p -1.10%
Antofagasta (ANTO) 841.50p -0.82%
BHP Billiton (BLT) 1,403.50p -0.74%
Rolls-Royce Holdings (RR.) 689.00p -0.65%
BT Group (BT.A) 310.60p -0.61%
Royal Bank of Scotland Group (RBS) 242.40p -0.45%
Royal Dutch Shell 'B' (RDSB) 2,215.50p -0.45%
FTSE 250 - Risers
CLS Holdings (CLI) 1,670.00p 3.47%
SEGRO (SGRO) 499.40p 3.40%
Ultra Electronics Holdings (ULE) 1,962.00p 2.99%
AO World (AO.) 158.60p 2.39%
Bankers Inv Trust (BNKR) 756.00p 1.89%
Euromoney Institutional Investor (ERM) 1,107.00p 1.75%
P2P Global Investments (P2P) 816.00p 1.68%
Daejan Holdings (DJAN) 6,625.00p 1.53%
OneSavings Bank (OSB) 383.70p 1.37%
TR Property Inv Trust (TRY) 298.90p 1.32%
FTSE 250 - Fallers
Inmarsat (ISAT) 619.50p -4.77%
Essentra (ESNT) 402.20p -4.58%
Cobham (COB) 111.30p -2.96%
Acacia Mining (ACA) 521.00p -2.07%
Kaz Minerals (KAZ) 561.00p -1.75%
Nostrum Oil & Gas (NOG) 462.20p -1.64%
Vedanta Resources (VED) 1,051.00p -1.59%
Rank Group (RNK) 206.60p -0.72%
CYBG (CYBG) 276.50p -0.58% |
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| | UK Event Calendar | | Friday 17 February
INTERIM DIVIDEND PAYMENT DATE
Consort Medical, Fletcher King
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Current Account (EU) (09:00)
FINALS
Essentra, Kingspan Group, SEGRO
SPECIAL DIVIDEND PAYMENT DATE
Halfords Group, Scottish Inv Trust
UK ECONOMIC ANNOUNCEMENTS
Public Sector Net Borrowing (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Blackrock Frontiers Investment Trust, Catco Reinsurance Opportunities Fund Ltd (DI), Catco Reinsurance Opportunities Fund Ltd (DI) C shares, Scottish Inv Trust, Shaftesbury, Victrex plc |
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| | US Market Report | | US close: S&P takes a breather after seven-day run Some steam escaped from the S&P 500 and Nasdaq after their seven-day winning spree, though the Dow was lifted by a handful of tech stocks while the dollar fell.
The Dow Jones Industrial Average inched back from early losses to rise 7.9 points to extend its record to 20,619.77 at the close, while the S&P 500 dipped 2 points to 2,347.22 and the Nasdaq lost 4.5 points to end at 5,814.9.
Meanwhile, oil prices were somewhat mixed, with a choppy West Texas Intermediate up 0.6% to $53.44 per barrel and Brent crude flat at $55.75.
In currency markets, the greenback was having a tough time, down 0.2% against the pound at 1.2489, 0.7% versus the euro at 1.0675 and 0.8% weaker against the yen at 113.26.
With Thursday's US economic data being mostly positive, the US dollar's was difficult to pinpoint, said analyst Michael Hewson at CMC Markets.
However he suggested it stemmed from Federal Reserve Vice Chair Stanley Fischer's comments to Bloomberg in the morning that the FOMC was moving closer to the central bank's target rate for inflation, and as such the time was getting closer to the optimum level for another hike.
"While these comments were broadly in line with Janet Yellen's they still don't chime with the prospect of a move in March, and that may well be behind today's US dollar weakness. That may change if [personal consumption expenditure], the Fed's preferred inflation measure hits 2%, it is currently at 1.7%."
Looking further into the day's data, the Philadelphia Fed manufacturing index surged to 43.3 from 23.6 in January, remaining in positive territory for seven consecutive months and smashing expectations for a decline to 18.0. Meanwhile, the index for current new orders increased 12 points from January, while the shipments index was up eight points.
US housing starts fell 2.6% in January to a seasonally-adjusted annual rate of 1.25m from December's rate, which was revised up to 1.28m from 1.23m. Analysts had expected starts to come in at 1.23m. On the year, housing starts were up 10.5%.
On the data front, US initial jobless claims were up 5,000 to 239,00 from the previous week's unrevised level. Analysts had expected claims to jump to 245,000. The four-week moving average came in at 245,250, up 500 from the previous week's average, which was revised up from 244,250.
In corporate news, Cisco Systems was 3.24% higher after it reported better-than-expected results late on Wednesday.
Coca-Cola was higher as its Greek bottling affiliate CHBC impressed with final results in London.
On the downside, media company CBS Corp shaved off 1.27% and food giant Kraft Heinz was 4.29% weaker after beating analysts' expectations.
Dean Foods dipped 8.02% after quarterly profit missed expectations and it posted a downbeat outlook for 2017.
Wendy's fell 5.72% after the fast food company's fourth quarter sales rose but profit fell.
Fourth-quarter earnings for S&P 500 companies were up roughly 7.3%, the strongest growth since the third quarter of 2014, according to Reuters.
Snap, holding company for Snapchat, set out that it expected a valuation of up to $22.2bn for when it makes its Wall Street initial public offer.
Dow Jones - Risers
Cisco Systems Inc. (CSCO) $33.60 2.38%
Coca-Cola Co. (KO) $41.20 1.88%
Intel Corp. (INTC) $36.41 1.00%
3M Co. (MMM) $183.43 0.94%
Boeing Co. (BA) $170.80 0.89%
Verizon Communications Inc. (VZ) $48.47 0.79%
Johnson & Johnson (JNJ) $118.08 0.75%
Travelers Company Inc. (TRV) $121.79 0.67%
Walt Disney Co. (DIS) $110.71 0.48%
General Electric Co. (GE) $30.45 0.33%
Dow Jones - Fallers
Chevron Corp. (CVX) $110.67 -1.68%
Exxon Mobil Corp. (XOM) $82.30 -1.03%
Caterpillar Inc. (CAT) $98.26 -0.77%
Nike Inc. (NKE) $56.29 -0.62%
Home Depot Inc. (HD) $141.54 -0.46%
Goldman Sachs Group Inc. (GS) $249.44 -0.44%
Unitedhealth Group Inc. (UNH) $163.65 -0.39%
Procter & Gamble Co. (PG) $90.79 -0.36%
E.I. du Pont de Nemours and Co. (DD) $77.78 -0.19%
Visa Inc. (V) $87.41 -0.15%
S&P 500 - Risers
Stericycle Inc. (SRCL) $83.35 7.70%
NetApp Inc. (NTAP) $40.56 4.19%
International Flavors & Fragrances Inc. (IFF) $124.00 4.09%
Entergy Corp. (ETR) $72.77 2.83%
Duke Energy Corp. (DUK) $78.90 2.76%
Cisco Systems Inc. (CSCO) $33.60 2.38%
American International Group Inc. (AIG) $62.27 2.33%
Laboratory Corporation of America Holdings (LH) $139.13 2.02%
NiSource Inc. (NI) $22.67 1.98%
Coca-Cola Co. (KO) $41.20 1.88%
S&P 500 - Fallers
TripAdvisor Inc. (TRIP) $46.92 -10.97%
Range Resources Corp. (RRC) $31.24 -5.33%
Mondelez International Inc. (MDLZ) $43.20 -4.78%
Southwestern Energy Co. (SWN) $8.61 -4.65%
Zoetis Inc (ZTS) $52.78 -4.30%
Nordstrom Inc. (JWN) $44.18 -4.21%
Kraft Heinz Co. (KHC) $87.28 -4.19%
Chesapeake Energy Corp. (CHK) $6.08 -3.80%
Alcoa Corporation (AA) $36.46 -3.72%
Williams Companies Inc. (WMB) $27.99 -3.45%
Nasdaq 100 - Risers
Liberty Global Plc Lilac Class C (LILAK) $25.50 16.81%
Liberty Global Plc Lilac Class A (LILA) $25.89 16.15%
NetEase Inc. Ads (NTES) $298.73 14.08%
Shire Plc Ads (SHPG) $178.70 2.58%
Cisco Systems Inc. (CSCO) $33.60 2.38%
Walgreens Boots Alliance, Inc. (WBA) $85.65 1.66%
Xilinx Inc. (XLNX) $59.61 1.17%
Broadcom Limited (AVGO) $208.18 1.06%
Intel Corp. (INTC) $36.41 1.00%
Cerner Corp. (CERN) $55.61 0.98%
Nasdaq 100 - Fallers
TripAdvisor Inc. (TRIP) $46.92 -10.97%
Mondelez International Inc. (MDLZ) $43.20 -4.78%
Kraft Heinz Co. (KHC) $87.28 -4.19%
Tesla Inc (TSLA) $268.95 -3.86%
Regeneron Pharmaceuticals Inc. (REGN) $372.91 -2.89%
Tractor Supply Company (TSCO) $70.85 -2.58%
Liberty Interactive Corporation QVC Group (QVCA) $19.24 -1.96%
Vertex Pharmaceuticals Inc. (VRTX) $87.70 -1.87%
Nvidia Corp. (NVDA) $107.25 -1.61% |
| | Banking Sector Outlook for 2017 | | In the first of a two-part series, this report covers the sector and its main players ahead of a barrage of full year results releases. We take an in-depth look at how US & UK Banks fared during 2016, reporting dates and forecasts for 2017, and what early US results have shown us. Get your copy of the Banking Sector Outlook for 2017 today! Losses can exceed deposits |
| | Newspaper Round Up | | Friday newspaper round-up: Vauxhall, Donald Trump, Alcohol Business Secretary Greg Clark is travelling to Paris this evening for urgent talks with Peugeot executives and the French government about the future of thousands of Vauxhall employees in Britain. General Motors - the parent company of the Vauxhall and Opel - is in negotiations about a sale of the marques to PSA Groupe, the French owner of Peugeot. - The Daily Telegraph
The scandal-hit bank that loaned hundreds of millions of dollars to Donald Trump has conducted a close internal examination of the US president's personal account to gauge whether there are any suspicious connections to Russia, the Guardian has learned. - The Guardian
Spending on alcohol and cigarettes has almost halved in 15 years as Britain becomes a more clean-living nation. The amount spent by families on alcoholic drinks, tobacco and recreational drugs fell to its lowest level since modern records began, costing the typical household £11.40 a week last year compared with nearly £20 in 2001-02, according to the Office for National Statistics. - The Times
Argos is to stump up more than £3m in back pay and fines after an investigation revealed that thousands of workers at the catalogue retailer had been paid less than the minimum wage. One day after Debenhams was "named and shamed" by the government for underpaying staff, Argos said it had discovered that 37,000 workers had been underpaid over four years. - The Times
Nearly three-quarters of small companies in London say business rates are the most important issue they face, piling further pressure on the government over the controversial tax. The Federation of Small Businesses (FSB) warned that London was in "serious danger of losing its vital support system of micro and small businesses". The average micro business, which employs fewer than 10 people, will have to pay £17,000 to cover business rates from April, it added. - The Guardian | | | | To advertise in the Euro Markets Bulletin please contact [email protected] |
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