Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 30 March 2017 09:36:59 Monitor Quote Charts News CFD's Compare Brokers Free BB   The North of England is the UK's buy-to-let hotspot. A growing population and rapidly increasing house prices makes cities like Manchester and Liverpool the place to be for property investors. Click here London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks little changed as investors mull Brexit London stocks were little changed early on Thursday as investors assessed the implications of Prime Minister Theresa May's triggering of Article 50 a day before, kicking off divorce proceedings with the European Union. At 0830 BST, the FTSE 100 was up 0.1% to 7,379.19, while the pound was down 0.1% to $1.2424. Spreadex's Connor Campbell said: "After a bit of a wobble last week the FTSE now finds itself once again eyeing 7400, needing to add just 25 points to re-cross that level for the first time in nine days. If it is going to do so, however, it needs to scrounge around for some momentum, with the economic and earnings calendars looking unlikely to provide the requisite boost." "That energy could come from the pound or, more accurately, if the pound falls any further as the day progresses. Sterling couldn't make up its mind for much of Wednesday, flitting from green to red as Theresa May triggered Article 50; it eventually ended up at a mild loss, a trend that has continued into this morning." In corporate news, tobacco company Imperial Brands edged higher after saying it remained on target to hit first-half targets, with both revenues and earnings set to be up strongly at the reported level thanks to the weak pound. Diploma ticked up just a touch as it said it expected group first half revenues to be around 20% ahead of the comparable period, boosted by the impact of the "substantial depreciation" in UK sterling. Medical technology company ConvaTec was little changed after saying it has expanded its insulin pump manufacturing partnership with Medtronic to meet growing demand. Betting and gaming company William Hill was also trading flat after it announced that Ruth Prior will be appointed chief financial officer, effective later in the year. Booker nudged up despite revealing that total fourth quarter sales were hit hard by the new tobacco display ban and plain packaging restrictions. Energy supplier SSE was in the red after it said it expects dividend cover for its 2017/18 financial year to be at the lower range of its target. Online electrical goods retailer AO World was under the cosh after saying it raised £50m in a share placing and that it expects full-year revenue to be up 17%. Morrisons was a high riser after a double upgrade to 'buy' by Bank of America Merrill Lynch. Petra Diamonds advanced as it announced the launch of a $600m notes issue and restructuring of its debt facilities. Hikma and Vectura were weaker on negative readacross after the US Food and Drug Administration rejected Mylan's generic version of GlaxoSmithKline's Advair. Old Mutual, Prudential, Smith & Nephew, British Land, Phoenix Group, Ferrexpo, Go-Ahead and Kier all weighed on London equity markets as their stock went ex-dividend. Market Movers FTSE 100 (UKX) 7,379.19 0.07% FTSE 250 (MCX) 18,992.07 0.07% techMARK (TASX) 3,473.45 0.03% FTSE 100 - Risers Morrison (Wm) Supermarkets (MRW) 244.20p 2.95% London Stock Exchange Group (LSE) 3,151.00p 1.45% Ashtead Group (AHT) 1,657.00p 1.16% WPP (WPP) 1,731.00p 0.93% Coca-Cola HBC AG (CDI) (CCH) 2,051.00p 0.89% Wolseley (WOS) 5,120.00p 0.59% Shire Plc (SHP) 4,810.00p 0.56% Mondi (MNDI) 1,960.00p 0.56% Admiral Group (ADM) 1,988.00p 0.56% BP (BP.) 463.60p 0.52% FTSE 100 - Fallers SSE (SSE) 1,454.00p -2.28% Hikma Pharmaceuticals (HIK) 1,954.00p -2.15% Schroders (SDR) 3,043.00p -1.65% Old Mutual (OML) 216.20p -1.55% Prudential (PRU) 1,686.50p -1.26% Smith & Nephew (SN.) 1,225.00p -1.05% British Land Company (BLND) 596.50p -0.91% Marks & Spencer Group (MKS) 332.50p -0.89% Unilever (ULVR) 4,003.00p -0.69% Centrica (CNA) 217.80p -0.68% FTSE 250 - Risers Nostrum Oil & Gas (NOG) 474.70p 2.77% Dixons Carphone (DC.) 318.60p 2.41% Morgan Advanced Materials (MGAM) 322.90p 2.41% Rank Group (RNK) 218.00p 2.35% Dunelm Group (DNLM) 644.50p 2.30% Petra Diamonds Ltd.(DI) (PDL) 126.30p 2.02% Henderson Group (HGG) 234.40p 1.78% Polymetal International (POLY) 996.50p 1.37% Cairn Energy (CNE) 205.20p 1.28% Man Group (EMG) 146.50p 1.24% FTSE 250 - Fallers AO World (AO.) 132.80p -3.70% Vectura Group (VEC) 150.90p -3.15% Phoenix Group Holdings (DI) (PHNX) 752.00p -3.03% Clarkson (CKN) 2,792.00p -2.89% Safestore Holdings (SAFE) 365.60p -2.22% Workspace Group (WKP) 749.50p -2.22% Redefine International (RDI) 36.00p -1.93% Ferrexpo (FXPO) 163.30p -1.69% Go-Ahead Group (GOG) 1,708.00p -1.67% UK Event Calendar Thursday 30 March INTERIMS DFS Furniture, Genedrive INTERIM DIVIDEND PAYMENT DATE Hansard Global, Hargreaves Lansdown, Redde INTERIM EX-DIVIDEND DATE Abbey, Craneware, Finsbury Food Group, Go-Ahead Group, Kier Group, Origin Enterprises, Softcat, Volution Group (WI) QUARTERLY PAYMENT DATE Volta Finance Limited QUARTERLY EX-DIVIDEND DATE British Land Company, Real Estate Investors, Value and Income Trust INTERNATIONAL ECONOMIC ANNOUNCEMENTS Business Climate Indicator (EU) (09:00) Consumer Confidence (EU) (09:00) Continuing Claims (US) (12:30) Economic Sentiment Indicator (EU) (09:00) Gross Domestic Product (US) (12:30) Import Price Index (GER) (06:00) Industrial Confidence (EU) (09:00) Initial Jobless Claims (US) (12:30) Personal Consumption Expenditures (US) (12:30) Services Confidence (EU) (09:00) FINALS Alpha Bank GDR (Reg S) USD, Anglo Pacific Group, Cathay International Holdings Ltd., Genel Energy, Hilton Food Group, International Public Partnerships Ltd., Scisys, Seplat Petroleum Development Company (DI), Tribal Group ANNUAL REPORT Alpha Bank GDR (Reg S) USD, Cathay International Holdings Ltd., International Public Partnerships Ltd., Sterling Energy SPECIAL EX-DIVIDEND DATE Asian Growth Properties Ltd Com Shs (DI), Ferrexpo, Headlam Group, M. P. Evans Group, Prudential EGMS Air China Ltd. AGMS Aberdeen Diversified Income and Growth Trust , Intelligent Energy Holdings, Milestone Group, Starvest, Sula Iron & Gold, SVG Capital, SVG Capital, W H Ireland Group TRADING ANNOUNCEMENTS Booker Group FINAL DIVIDEND PAYMENT DATE Jersey Electricity 'A' Shares FINAL EX-DIVIDEND DATE British Smaller Companies VCT 2, Devro, EMIS Group, Foreign and Colonial Inv Trust, IDOX, Jardine Lloyd Thompson Group, Kingspan Group, LSL Property Services, Maintel Holdings, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Miton Group, Old Mutual, OneSavings Bank, Phoenix Group Holdings (DI), PPHE Hotel Group Ltd, Prudential, Schroders, Schroders (Non-Voting), Smith & Nephew, Somero Enterprises Inc. (DI), Synectics, Wynnstay Group Truffles Have Never Been In Greater Demand 266% Returns and Annual Dividends Register your interest now Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks creep higher amid inflation drop, investors more confident European equities started the morning on the front foot, amid data showing larger than expected falls in German and Spanish consumer prices in March and despite hawkish remarks overnight from two top US central bank officials. As of 08:21 GMT the benchmark Stoxx 600 was 0.03% higher to 378.64, as the German Dax edged up 0.07% to 12,211.25 and the Cac-40 added 0.05% to 5,071.78. Despite the slow start to trading with just two days to go to the end of the month, strategists at Morgan Stanley reportedly said March's rise in both the Euro Stoxx 50 and the euro - the first in a year - was a sign of greater conviction on the part of investors. Against that backdrop, Spanish consumer prices advanced at a 2.1% year-on-year pace in March, down from the 3.0% pace observed in the prior month (consensus: 2.3%). Similarly, data released before the start of trading showed CPI in the German state of Saxony falling back to a 1.8% pace, versus 2.4% in February. The data appeared to justify the cautious approach adopted by the European Central Bank thus far. Indeed, a report from Reuters on Wednesday indicated that rate-setters at the ECB were wary of modifying the language of their policy statement when they next met in April. As an aside, in a research note sent to clients Fabrice Montagne at Barclays Research told clients he would not be surprised if the UK and the European Union inked a transition agreement in order to avoid a 'cliff edge' when the legally-mandated limit to conclude negotiations ran out in two years' time. On the calendar for Thursday were euro area industrial confidence figures for March at 09:00 GMT and preliminary German consumer price data for the same month which were due at noon. Later in the day, traders will be watching out for the latest weekly US initial unemployment claims data and revised fourth quarter GDP figures, alongside a speech from Cleveland Fed president Loretta Mester. Speaking overnight, John Williams and Eric Rosengren at the Federal Reserve both alluded to the possibility of three more interest rate hikes from the Fed in 2017, Craig Erlam, senior market analyst at Oanda explained. "With two more officials due to speak today, it will be interesting to see whether we're seeing another coordinated response from the Fed to lift rate expectations, with markets having recently pared them back a fair bit," Erlam said. Meantime, in the corporate space, worker representatives at German industrial gas manufacturer Linde were increasingly against plans for a merger with US rival Praxair, Handelsblatt reported. Oil services group Saipem said on Wednesday it had launched a €500.0m fixed-rate non-convertible bond. 6 Share Tips for your ISA The Share Centre’s Investment Research Analyst, Helal Miah, highlights six companies to consider for your 2017/18 ISA. From the largest listed company in the UK, to a consistent gold miner.  Download your FREE report. Capital at risk. Read More... Capital at Risk US Market Report US close: Markets mixed as investors look to Fed speeches US equity markets were mixed on Wednesday as investors looked to speeches from Federal Reserve officials and kept abreast of events in Europe as Britain started divorce proceedings with the EU. The Dow Jones Industrial Average was down 0.2% at 20,659.32, while the S&P 500 rose 0.11% to 2,361.13, and the Nasdaq 100 was 0.43% higher at 5,430.27. Investors were eyeing speeches by Federal Reserve presidents to look for hints on another possible interest rate hike in June after dovish comments from central bank officials recently. Chicago Fed president Charles Evans told a conference in Germany that he supported "another one or two increases this year" due to progress in full employment and stable inflation in the US. Across the pond, British Prime Minister Theresa May signed a letter on Tuesday evening to trigger Article 50 of the Lisbon treaty which will start a two-year clock on negotiations to leave the trading bloc. The country's EU ambassador, Sir Tim Barrow hand delivered the letter to Donald Tusk, the president of the European Council on Wednesday. Immediately after the clause was triggered, the pound rose against the dollar to a daily high. Analysts at Monex Europe said: "After taking a pummelling last week on the failure of 'Trumpcare' legislation, dollar is attempting a rally this week, and made progress against most of the G10 overnight after yesterday's advances versus sterling and the euro. "Yesterday's fundamental data was positive, including a smaller than expected goods trade deficit, which, somewhat humorously given recent rhetoric from President Trump, may well be due to the timing of the Chinese New Year holiday in the nation that is the key source of US imports." On the data front, US pending home sales rose a lot more than expected in February, according to data from the National Association of Realtors. The NAR's monthly index rose 5.5% to 112.3 from 106.4 in January and now sits 2.6% above a year ago, marking the highest level since last April. Economists had expected a 2.1% jump on the month. On the corporate front, Vertex Pharmaceuticals soared 20.45% following news late on Tuesday that its drug for cystic fibrosis met endpoints in two late-stage clinical studies. Restoration Hardware parent RH climbed 14.95% following better-than-expected earnings late on Tuesday. Restaurant chain Dave & Buster's Entertainment fell 3.38% after disappointing updates, while rival Sonic Corp surged 5.43% after quarterly earnings beat expectations. Amazon extended gains, rising 2.14% to a record high after launching a new grocery service, Amazonfresh Pickup, on Tuesday. Dow Jones - Risers Chevron Corp. (CVX) $108.07 0.84% Wal-Mart Stores Inc. (WMT) $70.74 0.60% Pfizer Inc. (PFE) $34.33 0.50% Merck & Co. Inc. (MRK) $63.64 0.47% Microsoft Corp. (MSFT) $65.47 0.28% Apple Inc. (AAPL) $144.12 0.22% Exxon Mobil Corp. (XOM) $82.02 0.22% General Electric Co. (GE) $29.68 0.20% Boeing Co. (BA) $177.63 0.15% Nike Inc. (NKE) $56.68 0.11% Dow Jones - Fallers Unitedhealth Group Inc. (UNH) $163.44 -1.16% Travelers Company Inc. (TRV) $120.56 -1.04% Cisco Systems Inc. (CSCO) $33.74 -0.82% United Technologies Corp. (UTX) $112.06 -0.60% Johnson & Johnson (JNJ) $124.92 -0.59% American Express Co. (AXP) $78.25 -0.50% McDonald's Corp. (MCD) $128.84 -0.47% Walt Disney Co. (DIS) $112.53 -0.46% Goldman Sachs Group Inc. (GS) $228.46 -0.38% JP Morgan Chase & Co. (JPM) $88.27 -0.37% S&P 500 - Risers Vertex Pharmaceuticals Inc. (VRTX) $108.01 20.45% Chesapeake Energy Corp. (CHK) $5.81 7.79% Endo International Plc (ENDP) $11.46 6.70% Nordstrom Inc. (JWN) $45.92 5.37% Hess Corp. (HES) $49.76 4.87% Urban Outfitters Inc. (URBN) $24.41 4.54% Kohls Corp. (KSS) $40.19 4.53% Range Resources Corp. (RRC) $28.95 4.17% Marathon Oil Corp. (MRO) $15.84 4.07% Devon Energy Corp. (DVN) $41.22 4.04% S&P 500 - Fallers F5 Networks Inc. (FFIV) $142.10 -3.42% Mylan Inc. (MYL) $40.35 -3.28% Paychex Inc. (PAYX) $59.06 -2.51% Tenet Healthcare Corp. (THC) $17.92 -2.29% Biogen Inc (BIIB) $268.53 -2.04% US Bancorp (USB) $51.75 -1.82% Westrock Company (WRK) $52.04 -1.57% Citizens Financial Group, Inc. (CFG) $34.49 -1.54% American Airlines Group (AAL) $41.96 -1.50% Royal Caribbean Cr (RCL) $98.92 -1.40% Nasdaq 100 - Risers Vertex Pharmaceuticals Inc. (VRTX) $108.01 20.45% Liberty Global Plc Lilac Class C (LILAK) $23.63 3.59% Liberty Global Plc Lilac Class A (LILA) $22.80 3.54% Regeneron Pharmaceuticals Inc. (REGN) $394.14 3.03% Dollar Tree Inc (DLTR) $78.51 2.56% Amazon.Com Inc. (AMZN) $874.32 2.14% O'Reilly Automotive Inc. (ORLY) $274.78 1.88% Alexion Pharmaceuticals Inc. (ALXN) $120.72 1.85% Symantec Corp. (SYMC) $30.83 1.55% Discovery Communications Inc. Class A (DISCA) $28.06 1.37% Nasdaq 100 - Fallers Mylan Inc. (MYL) $40.35 -3.28% Paychex Inc. (PAYX) $59.06 -2.51% NetEase Inc. Ads (NTES) $283.32 -2.08% Biogen Inc (BIIB) $268.53 -2.04% American Airlines Group (AAL) $41.96 -1.50% J.B. Hunt Transport Services Inc. (JBHT) $91.16 -1.28% Automatic Data Processing Inc. (ADP) $102.13 -1.11% Twenty-First Century Fox Inc Class A (FOXA) $32.11 -1.02% Amgen Inc. (AMGN) $163.06 -1.00% Join City Index for competitive commissions and spreads, including FX from just 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more Newspaper Round Up Thursday newspaper round-up: Lloyd's of London, Heathrow, gig economy Lloyd's of London will announce on Thursday that it has picked Brussels as the base for its new EU subsidiary to secure a European foothold after the UK's departure from the EU. The announcement by the world's biggest insurance market will be made alongside its annual results, a day after Theresa May triggered article 50 to kickstart the process of leaving the EU. - Guardian British businesses have cautiously welcomed the prime minister's pledge to work for a "bold and ambitious free trade agreement" with the EU as part of the Brexit negotiations, but reiterated warnings that it would be disastrous for the UK to leave without a deal. Concerns have been rising among businesses in recent weeks that the UK could be heading towards a hard Brexit that would mean paying World Trade Organisation tariffs of about 5% on imports and exports with Europe. - Guardian Heathrow's overseas backers have flown in the face of any fears surrounding Britain's triggering of its two-year divorce from the EU by pledging £650m in investments for major projects. The London airport, which deals with more than 75m passengers every year, said its consortium of investors would spend the cash in 2019 on projects likely to include the expansion of Terminal 2 and a new southern access tunnel for road traffic to the airport. - Telegraph A controversial design contract for the £55bn High Speed 2 rail project has been abandoned by the US engineer which won the work following cronyism allegations. In February American engineering consultancy CH2M Hill was awarded the £170m Phase 2B deal to design parts of the high speed line running from Birmingham to Manchester and Leeds. - Telegraph Housebuilders have been accused of showing a "worrying" focus on quantity over quality after a survey showed a growing number of complaints from customers. The Home Builders Federation revealed that 98 per cent of customers have reported snags or defects to their home since moving in a year ago, up from 93 per cent a year ago. - The Times Gig economy companies such as Uber are deliberately misleading their workers in an attempt to strengthen the case against reform of employment rights, according to the head of a government review. Matthew Taylor, a former adviser to Tony Blair and chief executive of the Royal Society of Arts, said that Uber drivers and others were being led to believe there was a trade-off between flexibility and job protection. - The Times   To advertise in the Euro Markets Bulletin please contact [email protected]     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. 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Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 29 March 2017 17:40:47 Monitor Quote Charts News CFD's Compare Brokers Free BB   The North of England is the UK's buy-to-let hotspot. A growing population and rapidly increasing house prices makes cities like Manchester and Liverpool the place to be for property investors. Click here London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE fends of Brexit nerves to end Wednesday higher Equities in London fended off Brexit jitters to close higher, having overcome some softness seen around the time Prime Minister Theresa May fired the starting gun on UK divorce talks with the EU. The FTSE 100 finished up 0.41% to 7,373.72, and the FTSE 250 rose 0.13% to 18,978.65. At 16:24 GMT, sterling was down 0.21% to $1.2424, and up 0.31% to €1.1550. Gold fell 0.32% to $1254.80 an ounce. In the US, the Dow Jones was down, but the S&P 500 and Nasdaq Composite rose, while in Europe the Euro Stoxx 50, Dax and Cac 40 all improved. Earlier on Wednesday, May's much telegraphed letter activating Article 50 of the Lisbon Treaty was received by the EU, sparking up to two years of negotiations. "A historic day for the UK and Europe as a whole has been matched by a suitably volatile day for the FTSE, with initial gains fading to red, only to rebound into the close," said IG market analyst Joshua Mahony. "Perhaps today's FTSE trade was a precursor of the times we have ahead both economically and emotionally, as this painful divorce progresses from stage to stage," he added. "The forthcoming years will no doubt prove volatile and unpredictable, yet ultimately the end result is what matters most." On that note, global markets will be scrutinising any updates from Brexit talks whether official or unofficial to divine what the post divorce wonderland might look like. Michael Hewson, chief market analyst at CMC Markets UK, summed the session up succinctly: "It's been a positive day for European markets with the political theatre of the triggering of Article 50, by the UK taking up most of the headlines." He and other market watchers would be looking to the official EU rejoinder to the conciliatory tone of May's letter. Returning to London stocks, London Stock Exchange rallied after the European Commission blocked its proposed merger with its German peer, Deutsche Boerse. The EC said such a deal would significantly reduce competition. The decision came as the companies failed to offer up adequate remedies to address all of the commission's concerns. Holiday-tour operator TUI fell after it said winter 2016/17 and summer 2017 were trading in line with expectations and reiterated its guidance of at least 10% growth in group underlying EBITA in 2016/17. BHP Billiton firmed after its iron ore chief Edgar Basto warned the supply of low-cost seaborne iron ore was expected to grow faster than demand, but assured the company was well-positioned to continue to grow value and shareholder returns. 3i was stronger after an upgrade to 'overweight' from 'equalweight' by Morgan Stanley, but Acacia Mining was under the cosh after JP Morgan Cazenove downgraded the stock to 'neutral' from 'overweight', citing Tanzanian obstacles and an ongoing re-rating. Miners were also rising, although arguable revitalising after being sold much lower earlier in the week. Antofagasta, Rio Tinto and Anglo American all stepped higher. In the oil sector, both BP and Shell gained as well. Commercial property companies like Land Securities and Hammerson were improving, as were various financial stocks. On the macro front, Bank of England figures revealed UK mortgage approvals fell to 68,315 in February, from 69,114 in January, versus expectations for an uptick to 69,900. Meanwhile, consumer credit rose by £1.44bn, down from the month before but above expectations for a £1.3bn increase. Market Movers FTSE 100 (UKX) 7,373.72 0.41% FTSE 250 (MCX) 18,978.65 0.13% techMARK (TASX) 3,472.45 0.06% FTSE 100 - Risers 3i Group (III) 740.50p 5.71% London Stock Exchange Group (LSE) 3,106.00p 2.71% BHP Billiton (BLT) 1,260.00p 2.69% Antofagasta (ANTO) 816.00p 2.19% Ashtead Group (AHT) 1,638.00p 2.12% British American Tobacco (BATS) 5,318.00p 1.90% BP (BP.) 461.20p 1.71% Intu Properties (INTU) 276.10p 1.58% Convatec Group (CTEC) 273.00p 1.52% Associated British Foods (ABF) 2,649.00p 1.42% FTSE 100 - Fallers Fresnillo (FRES) 1,536.00p -1.73% Standard Life (SL.) 354.40p -1.61% Randgold Resources Ltd. (RRS) 7,055.00p -1.60% RSA Insurance Group (RSA) 585.00p -1.18% Severn Trent (SVT) 2,376.00p -1.08% TUI AG Reg Shs (DI) (TUI) 1,123.00p -1.06% Whitbread (WTB) 3,892.00p -1.04% Barratt Developments (BDEV) 540.50p -1.01% Admiral Group (ADM) 1,977.00p -0.90% Prudential (PRU) 1,708.00p -0.84% FTSE 250 - Risers Nostrum Oil & Gas (NOG) 465.30p 6.95% Evraz (EVR) 228.10p 4.63% Stagecoach Group (SGC) 207.70p 4.21% Sanne Group (SNN) 650.50p 3.25% Ferrexpo (FXPO) 166.10p 3.17% Tullow Oil (TLW) 220.00p 2.85% Synthomer (SYNT) 474.40p 2.55% Ashmore Group (ASHM) 348.70p 2.53% Capital & Counties Properties (CAPC) 287.80p 2.38% Derwent London (DLN) 2,729.00p 2.36% FTSE 250 - Fallers Polymetal International (POLY) 983.00p -5.48% AA (AA.) 259.90p -3.92% Acacia Mining (ACA) 442.70p -2.98% Berendsen (BRSN) 740.00p -2.76% Saga (SAGA) 204.30p -2.71% JRP Group (JRP) 135.30p -2.59% Petra Diamonds Ltd.(DI) (PDL) 123.80p -2.52% AO World (AO.) 137.90p -2.48% Bellway (BWY) 2,700.00p -2.32% Restaurant Group (RTN) 334.70p -1.93% Truffles Have Never Been In Greater Demand 266% Returns and Annual Dividends Register your interest now US Market Report US open: Stocks mixed as investors eye Fed officials, Brexit US equity markets were mixed on Wednesday as investors looked to speeches from Federal Reserve officials and kept abreast of events in Europe as Britain started divorce proceedings with the EU. At 1547 GMT, the Dow Jones Industrial Average was down 0.14% to 20,672.11, the S&P 500 rose 0.14% to 2,361.78, and the Nasdaq was 0.32% higher at 5,893.83. Meanwhile, oil prices gained, with West Texas Intermediate up 1.46% to $49.07 a barrel and Brent crude up 1.44% to $52.08. Investors were eyeing speeches by Federal Reserve presidents to look for hints on another possible interest rate hike in June after dovish comments from central bank officials recently. Chicago Fed president Charles Evans told a conference in Germany that he supported "another one or two increases this year" due to progress in full employment and stable inflation in the US. Boston Fed president Eric Rosengren will speak on the economic outlook to the Boston Economic Club at 1630 BST, while San Francisco Fed president John Williams will talk about the US economy at the Forecasters Club of New York at 1810 BST. Across the pond, British Prime Minister Theresa May signed a letter on Tuesday evening to trigger Article 50 of the Lisbon treaty which will start a two-year clock on negotiations to leave the trading bloc. The country's EU ambassador, Sir Tim Barrow hand delivered the letter to Donald Tusk, the president of the European Council on Wednesday. Immediately after the clause was triggered, the pound rose against the dollar to a daily high. Sterling increased 0.14% versus the greenback to 1.2469, recovering from falls earlier in the day. Currently, the dollar is 0.16% higher versus the pound at 0.8044 and 0.54% higher against the euro at 0.9297 but down 0.19% against the yen to 110.94. Analysts at Monex Europe said: "After taking a pummelling last week on the failure of 'Trumpcare' legislation, dollar is attempting a rally this week, and made progress against most of the G10 overnight after yesterday's advances versus sterling and the euro. "Yesterday's fundamental data was positive, including a smaller than expected goods trade deficit, which, somewhat humorously given recent rhetoric from President Trump, may well be due to the timing of the Chinese New Year holiday in the nation that is the key source of US imports." On the data front, US pending home sales rose a lot more than expected in February, according to data from the National Association of Realtors. The NAR's monthly index rose 5.5% to 112.3 from 106.4 in January and now sits 2.6% above a year ago, marking the highest level since last April. Economists had expected a 2.1% jump on the month. On the corporate front, Vertex Pharmaceuticals soared 23.2% following news late on Tuesday that its drug for cystic fibrosis met endpoints in two late-stage clinical studies. Restoration Hardware parent RH climbed 13.05% following better-than-expected earnings late on Tuesday. Restaurant chain Dave & Buster's Entertainment fell 1.98% after disappointing updates, while rival Sonic Corp surged 6.81% after quarterly earnings beat expectations. 6 Share Tips for your ISA The Share Centre’s Investment Research Analyst, Helal Miah, highlights six companies to consider for your 2017/18 ISA. From the largest listed company in the UK, to a consistent gold miner.  Download your FREE report. Capital at risk. Read More... Capital at Risk Broker Tips Broker tips: Tesco, Acacia Mining Following Tesco agreeing to pay a £129m fine over its accounting scandal, HSBC has reiterated its 'buy' rating and 260p target. The bank believes that while the supermarket's recovery continues it is still a long-term winner as the fine to be paid to the Serious Fraud Office will bring the accounting controversy to a close and that it also remains positive about its proposed merger with Booker. Tesco reached a deferred prosecution agreement with SFO after a two-year investigation and the penalty should draw a line under the scandal, HSBC said. In addition to the £129m fine to the SFO, Tesco will pay about £85m compensation to certain shareholders, incurring a £235m exceptional charge on its 2017 balance sheet. It will not pay a penalty to the Financial Conduct Authority, but has agreed to find market abuse relating to a trading statement on 29 August 2014. HSBC is also positive about its proposed £3.7bn takeover over of food wholesaler Booker, despite Schroders, the supermarket's third-biggest shareholder, and Artisan Partners, who together hold a 9% stake in Tesco, voicing their concerns about the deal to the Financial Times. The bank said that the takeover could "see significant synergies unlocked, see Tesco's underutilised asset base better used and would create a platform well placed to benefit from industry changes. Tesco remains an "attractive recovery story based on scale advantages, volume growth and margin recovery" to HSBC, and it expects its full-year results to be positive. Long term, a return to a circa 4% margin in the UK is "logical" given underlying industry economics and Tesco should be able to earn a premium on the industry average. A 4% margin is well ahead of the 1.7% delivered last year and if it achieves this, Tesco will "become a highly cash-generative market leader and should be able to eliminate any lingering balance sheet concerns". Acacia Mining JP Morgan Cazenove cut its stance on Acacia Mining to 'neutral' from 'overweight' and chopped the target to 500p from 610p, saying the Tanzanian concentrate ban highlights near-term headwinds to the re-rating thesis. Early in March, Tanzania banned exports of gold/copper concentrate, a move that hit shares in Acacia, which generated around 30% of its revenues last year from the concentrate. Although JPM acknowledged that Acacia remains one of the cheapest UK gold exposures, with near-term earnings multiples trading at more than a 50% discount to peers, it said the recent concentrate export ban highlights the risk of being exposed to a single jurisdiction. As such, the bank reckons there are headwinds to the positive re-rating thesis until the market can re-gain comfort with Tanzanian risk and/or ACA can geographically diversify. JPM noted that discussions continue with authorities to seek a resolution to the ban. "At this stage, we make no changes to our base case forecasts although flag that under a scenario where the ban is immediately overturned the financial impact would be minimal, although a 'bear case' scenario could reduce pro-forma 2017/18 production around 35%/54% and around 35%+ to consensus EBITDA." Within the UK gold sector, JPM retained a preference for Randgold Resources, which it rates at 'overweight'. Its least preferred is Polymetal, however, which it downgraded to 'underweight' from 'neutral'. JMP, which lifted the price target on the stock to 980p from 680p, said the shares have outperformed the Philadelphia Gold Index by more than 30% since June 2015 as Rouble-denominated gold prices rose more than 50% over the period. Join City Index for competitive commissions and spreads, including FX from just 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more   To advertise in the Euro Markets Bulletin please contact [email protected]     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. 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Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 29 March 2017 10:20:38 Monitor Quote Charts News CFD's Compare Brokers Free BB   Are Your Savings Enough to Retire? Ready to retire? If you have a £250,000 portfolio, download "The 15-Minute Retirement Plan" written by Forbes columnist and money manager Ken Fisher's firm. Don't miss it! Click Here to Download Your Guide! Fisher Investments UK London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks edge up, pound slips as May prepares to trigger Brexit London stocks edged higher in early trade while the pound slipped back as investors braced for Prime Minister Theresa May to officially kick off divorce proceedings with the European Union. At 0830 BST, the FTSE 100 was up 0.3% to 7,366.73. Meanwhile, the pound - which is likely to remain volatile throughout Wednesday's session - was under pressure, down 0.4% at $1.2405, having fallen below $1.24 in Asian trading. Sterling was off 0.2% versus the euro at 1.1494. On Tuesday, May signed a letter formally notifying the European Council of Britain's intention to leave the bloc. Newly appointed EU ambassador Sir Tim Barrow will at around 1230 BST personally deliver the document that formally kicks off the two-year process to European Council President Donald Tusk, with the Prime Minister around the same time giving a speech to parliament. Neil Wilson, senior market analyst at ETX Capital, said it was going to be hard to catch a bid on Wednesday unless May strikes an unexpectedly dovish stance. "Details are everything now. We could be in for a rough ride today as currency traders react to the contents of the letter being delivered to Brussels and the language May uses in parliament," he said. "And we're in for a long period of volatility for the pound and UK assets as the government embarks on protracted and hugely challenging Brexit negotiations. Sterling will be incredibly sensitive to negotiations and will offer a clear gauge of how things are panning out." "Markets are only a gauge though - they're not always that great at pricing in the kind of political risk associated with Brexit. In the backdrop is Scotland and the threat of a break-up of the UK." "The big question now is whether Brexit has been fully factored in. A truly hard Brexit has not been priced into sterling. We could see it move lower still if negotiations take a sour turn - $1.10 is feasible." In corporate news, holiday tour operator TUI slipped back after it said winter 2016/17 and summer 2017 were trading in line with expectations and reiterated its guidance of at least 10% growth in group underlying EBITA in 2016/17. Passenger transport operator Stagecoach advanced despite reporting a drop in third-quarter revenues. BHP Billiton was on the front foot after its iron ore chief Edgar Basto warned that the supply of low-cost seaborne iron ore is expected to grow faster than demand, but assured that company is well-positioned to continue to grow value and shareholder returns. Auto Trader fell as the digital automotive marketplace appointed Nathan Coe as chief operating officer and executive director with effect from 1 April. Great Portland Estates was little changed after raising £175m by issuing new seven-year US private placement notes and agreeing new lettings for a property in West London. Workspace Group pushed lower after saying it has bought an office building in Fitzrovia for £98.5m from design and engineering firm Arup Group. 3i was stronger after an upgrade to 'overweight' from 'equalweight' by Morgan Stanley, but Acacia Mining was under the cosh after JP Morgan Cazenove downgraded the stock to 'neutral' from 'overweight', citing Tanzanian obstacles and an ongoing re-rating. On the data front, consumer credit and mortgage approvals are at 0930 BST. Market Movers FTSE 100 (UKX) 7,366.73 0.32% FTSE 250 (MCX) 18,948.33 -0.03% techMARK (TASX) 3,473.33 0.08% FTSE 100 - Risers 3i Group (III) 722.50p 3.14% BHP Billiton (BLT) 1,252.00p 2.04% Carnival (CCL) 4,618.00p 1.09% Rio Tinto (RIO) 3,252.00p 0.99% Convatec Group (CTEC) 271.30p 0.89% Royal Bank of Scotland Group (RBS) 244.30p 0.87% Antofagasta (ANTO) 805.00p 0.81% Next (NXT) 4,323.00p 0.79% Smiths Group (SMIN) 1,607.00p 0.75% Johnson Matthey (JMAT) 3,030.00p 0.73% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 7,070.00p -1.39% Rolls-Royce Holdings (RR.) 747.00p -0.86% Experian (EXPN) 1,612.00p -0.74% Hikma Pharmaceuticals (HIK) 1,988.00p -0.60% easyJet (EZJ) 993.50p -0.50% Tesco (TSCO) 190.25p -0.50% Sage Group (SGE) 632.50p -0.47% Barratt Developments (BDEV) 544.00p -0.37% TUI AG Reg Shs (DI) (TUI) 1,131.00p -0.35% Bunzl (BNZL) 2,323.00p -0.34% FTSE 250 - Risers Nostrum Oil & Gas (NOG) 446.60p 3.40% Synthomer (SYNT) 477.20p 3.16% Henderson Group (HGG) 230.90p 1.67% Vedanta Resources (VED) 796.50p 1.66% British Empire Trust (BTEM) 672.50p 1.43% Virgin Money Holdings (UK) (VM.) 321.50p 1.39% CYBG (CYBG) 277.70p 1.39% Smith (DS) (SMDS) 440.00p 1.38% Ferrexpo (FXPO) 163.10p 1.30% JPMorgan American Inv Trust (JAM) 379.20p 1.26% FTSE 250 - Fallers JRP Group (JRP) 133.60p -3.82% Acacia Mining (ACA) 440.10p -3.55% Hochschild Mining (HOC) 263.60p -2.69% CLS Holdings (CLI) 1,702.21p -2.45% Polypipe Group (PLP) 344.00p -2.44% Card Factory (CARD) 262.10p -2.38% AO World (AO.) 138.30p -2.19% Allied Minds (ALM) 302.50p -1.72% Centamin (DI) (CEY) 172.70p -1.71% UK Event Calendar Wednesday 29 March INTERIMS Allergy Therapeutics, Game Digital, James Halstead, Transense Technologies INTERNATIONAL ECONOMIC ANNOUNCEMENTS Crude Oil Inventories (US) (14:30) MBA Mortgage Applications (US) (11:00) Pending Homes Sales (US) (14:00) FINALS Alliance Pharma, Atlas Mara Limited (DI), Avengardco Investments Public Ltd GDR, BBGI SICAV S.A. (DI), Biome Technologies, Cambridge Cognition Holdings, Centaur Media, Faron Pharmaceuticals Oy (DI), India Capital Growth Fund Ltd., Jackpotjoy, Johnston Press, PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S), Saga , Sanne Group ANNUAL REPORT Polymetal International SPECIAL DIVIDEND PAYMENT DATE Beazley EGMS Fair Oaks Income Fund Limited AGMS Adept4, Amino Technologies, Angus Energy , MCB Bank Ltd GDR (Reg S), St. Modwen Properties TRADING ANNOUNCEMENTS Stagecoach Group, TUI AG Reg Shs (DI) UK ECONOMIC ANNOUNCEMENTS Consumer Credit (08:30) M4 Money Supply (09:30) Mortgage Approvals (08:30) FINAL DIVIDEND PAYMENT DATE Blackrock Throgmorton Trust, CC Japan Income & Growth Trust Truffles Have Never Been In Greater Demand 266% Returns and Annual Dividends Register your interest now Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks track strong gains on Wall Street European stocks began the day on the frontfoot, tracking big gains on Wall Street overnight as analysts appeared to shrug off the effects of the political infighting on Capitol Hill. As of 0900 GMT the benchmark Stoxx 600 was edging higher by 0.17% to 377.96, alongside gains for the Dax of 0.64% to 12,227.46 and an advance of 0.13% for the FTSE Mibtel to 20,358.25. In parallel, euro/dollar was off 0.23% at 1.0787 and front month Brent crude futures were higher by 0.85% to $51.77 a barrel on the ICE. "Impressive macroeconomic data and a crude oil recovery saw US equity markets rally across the board as Trump policy uncertainty was made an afterthought for investors," said Mike Van Dulken, Head of Research at Accendo Markets. For his part, Jim Reid at Deutsche Bank commented: "Many here at DB think that Trump trades had already been priced out to a large degree and therefore the disappointment over Friday's news may be limited. Firm global growth being the most important factor in where markets are trading. "Trump reforms are still very important though especially if global growth slows. Without a big reform package the US is unlikely to be able to pick up the slack if any slowdown occurs. So we certainly don't want to downplay the political events but their ramifications may not be immediate." The economic calendar was again quite sparse on Wednesday, although several analysts noted that European Central Bank chief economist Peter Praet was due to make a speech at 1650 GMT. Away from the economic front, Dutch daily FD reported that US activist hedge fund Elliott Advisors had garnered the support of 25% of Akzo Nobel's shareholders in its push for the chemicals giant to engage in takeover talks with US rival PPG Industries. 6 Share Tips for your ISA The Share Centre’s Investment Research Analyst, Helal Miah, highlights six companies to consider for your 2017/18 ISA. From the largest listed company in the UK, to a consistent gold miner.  Download your FREE report. Capital at risk. Read More... Capital at Risk US Market Report US close: Markets finish higher as traders look to tax reform US equity markets finished in the green on Tuesday as investors dealt with the uncertain legislative future under the Trump administration and eyed more speeches by Fed officials. The Dow Jones Industrial Average finished up 0.73% to 20,701.50, the S&P 500 ended 0.73% higher at 2,358.57, and the Nasdaq 100 was 0.61% firmer at 5,407.21. "While yesterday's late rebound in US markets was predicated that US lawmakers would be more determined to deliver something tangible on tax reform in order to offset the healthcare failures, anything quick and tangible is likely to remain a remote prospect," Michael Hewson, chief market analyst at CMC Markets said. On the data front, the US international trade deficit fell sharply to $64.8bn in February from $68.8bn the month earlier and better than the $66.4bn consensus forecast. Exports fell just $0.1bn from January, while the value of imported goods decreased $4.2bn. The S&P/Case-Shiller 20-city house price index rose 5.9% in January from 5.7% the month before and is 31-month high. In corporate news, CryoPort tanked 42.74% after it announced a share offering as steep discount price. Darden Restaurants surged 9.31% after the Olive Garden parent's earnings late on Monday surpassed analysts' expectations. American Airlines added 2.06% after the carrier said it will make a $200m equity investment in China Southern Airlines. Amazon rose 1.08% after striking a deal to buy Dubai-based Souq.com, the Middle East's largest online retail and marketplace site, for an undisclosed sum. McCormick & Co was down 2.89% despite beating first quarter revenue and earnings expectations. Dow Jones - Risers Apple Inc. (AAPL) $143.80 2.07% Goldman Sachs Group Inc. (GS) $229.33 1.71% Caterpillar Inc. (CAT) $92.95 1.57% E.I. du Pont de Nemours and Co. (DD) $81.84 1.56% JP Morgan Chase & Co. (JPM) $88.60 1.56% American Express Co. (AXP) $78.64 1.34% Nike Inc. (NKE) $56.62 1.23% Wal-Mart Stores Inc. (WMT) $70.32 0.95% Chevron Corp. (CVX) $107.17 0.84% United Technologies Corp. (UTX) $112.74 0.81% Dow Jones - Fallers Johnson & Johnson (JNJ) $125.66 -0.11% Pfizer Inc. (PFE) $34.16 -0.06% McDonald's Corp. (MCD) $129.45 -0.03% Cisco Systems Inc. (CSCO) $34.02 0.09% Visa Inc. (V) $89.12 0.19% Home Depot Inc. (HD) $147.20 0.22% Merck & Co. Inc. (MRK) $63.34 0.24% Coca-Cola Co. (KO) $42.43 0.26% Microsoft Corp. (MSFT) $65.29 0.29% 3M Co. (MMM) $190.99 0.29% S&P 500 - Risers Darden Restaurants Inc. (DRI) $82.62 9.31% Red Hat Inc. (RHT) $86.48 5.21% Chesapeake Energy Corp. (CHK) $5.39 4.46% GameStop Corp. (GME) $21.72 4.17% Noble Energy Inc. (NBL) $34.15 3.96% Murphy Oil Corp. (MUR) $27.26 3.85% Newfield Exploration Co (NFX) $35.74 3.74% Hess Corp. (HES) $47.44 3.63% Navient Corporation (NAVI) $14.50 3.57% United Continental Holdings Inc. (UAL) $70.71 3.47% S&P 500 - Fallers McCormick & Co. (MKC) $98.42 -2.89% Newmont Mining Corp. (NEM) $32.98 -2.68% Frontier Communications Co. (FTR) $1.98 -1.98% Edwards Lifesciences Corp. (EW) $94.39 -1.54% Ameren Corp. (AEE) $55.30 -1.32% Vertex Pharmaceuticals Inc. (VRTX) $89.67 -1.24% Tenet Healthcare Corp. (THC) $18.35 -1.02% Illumina Inc. (ILMN) $170.81 -0.86% Constellation Brands Inc. Class A (STZ) $162.44 -0.76% International Flavors & Fragrances Inc. (IFF) $131.57 -0.76% Nasdaq 100 - Risers Tesla Inc (TSLA) $277.45 2.68% Western Digital Corp. (WDC) $80.56 2.53% CSX Corp. (CSX) $47.34 2.45% Apple Inc. (AAPL) $143.80 2.07% American Airlines Group (AAL) $42.60 2.06% J.B. Hunt Transport Services Inc. (JBHT) $92.34 1.98% Liberty Global Plc Lilac Class A (LILA) $22.02 1.90% Twenty-First Century Fox Inc Class B (FOX) $31.82 1.82% Twenty-First Century Fox Inc Class A (FOXA) $32.44 1.69% Fastenal Co. (FAST) $50.88 1.68% Nasdaq 100 - Fallers Vertex Pharmaceuticals Inc. (VRTX) $89.67 -1.24% Liberty Global plc Series A (LBTYA) $35.13 -1.04% Vodafone Group Plc ADS (VOD) $26.64 -1.00% Illumina Inc. (ILMN) $170.81 -0.86% Liberty Global plc Series C (LBTYK) $34.63 -0.72% Tractor Supply Company (TSCO) $67.97 -0.66% Gilead Sciences Inc. (GILD) $67.10 -0.59% Nvidia Corp. (NVDA) $107.69 -0.52% Paychex Inc. (PAYX) $60.58 -0.51% Join City Index for competitive commissions and spreads, including FX from just 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more Newspaper Round Up Wednesday newspaper round-up: Brexit, FTSE diversity, Sports Direct Fruit and vegetables, flowers and olive oil will all become more expensive once the UK leaves the EU, no matter what trade deal is struck, City analysts have calculated. The price of food imported from the EU is likely to rise by up to 8% by the end of any transitional period as Britain is forced to impose extra border controls, making it more difficult to bring in foods that we cannot produce ourselves. - Guardian The government has written to the chief executives of the biggest UK-listed companies urging them to improve diversity and echoing a call to publish a breakdown of their workforce by race and pay band. The business minister Margot James said all FTSE-350 companies should take up key recommendations from a recent government-backed review into race in the workplace by the businesswoman Ruby McGregor-Smith. - Guardian One of Sir Philip Green's key lieutenants is leaving her job running Topshop for the same job at The White Company.Mary Homer, who has been managing director of the fashion retailer for 11 years and has worked for the billionaire since 1987, is to replace outgoing White Company boss Will Kernan, who left in February to run online sports specialist Wiggle. Sir Philip will now begin a search for a replacement for Ms Homer, who resigned a week ago but has yet to fix her departure date. - Telegraph The Government has ruled out privatisation of Channel 4 after a lengthy review of the station's future. In a speech in Salford, the Culture Secretary Karen Bradley is expected to announce tomorrow that the broadcaster will remain under state ownership. However, she will also say that Channel 4's commitment to the nations and regions will face a further review. - Telegraph A leading union official has accused the employment agency Transline of refusing to honour a deal to pay back thousands of pounds owed to workers at Sports Direct's Shirebrook complex in Derbyshire. Steve Turner, assistant general secretary at Unite, told MPs yesterday that Transline was still refusing to refund some unpaid wages because they arose before it took over from rival agency Blue Arrow two years ago. - The Times The AA and RAC are to compensate thousands of customers who paid twice for the same roadside breakdown cover. The AA, which has 3.3 million members, said yesterday that it was contacting 17,000 customers who may have also bought duplicate cover when they signed up to packaged current accounts sold by Lloyds Bank and TSB. - The Times   To advertise in the Euro Markets Bulletin please contact [email protected]     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