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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 advance as BP rallies on update London stocks kicked off the month of May in positive territory, helped along by a weaker pound and a solid first-quarter update from BP.
At 0830 BST, the FTSE 100 was up 0.6% to 7.243.89, while the pound was off 0.1% against the dollar and 0.2% versus the euro to 1.2875 and 1.1791, respectively.
On the data front, Markit's manufacturing PMI is at 0930 BST.
Spreadex analyst Connor Campbell said: "Still to come is Tuesday morning's main focus - the UK's latest manufacturing PMI. Analysts are once again expecting the figure to trip backwards, this time from 54.2 to 54.0 month-on-month; that would take the reading to a five month low, and continue the downward spiral that has been in place since 2017 began.
"The pound would likely bear the brunt of this drop, meaning, if those estimates are accurate, the currency's current losses may only widen as the day goes on."
In corporate news, oil giant BP gushed higher after saying it got off to a strong first quarter, with a £1.45bn profit and expectations of a "material improvement" in cash flow from the second half of the year.
AstraZeneca was firmer after it and and its global biologics research and development arm, MedImmune, said the US Food and Drug Administration (FDA) has granted accelerated approval to the bladder cancer treatment Imfinzi (durvalumab).
Global medical technology company ConvaTec Group nudged higher as it announced the US launch of the Flexi-Seal PROTECT Fecal Management System, following receipt of 510(k) clearance from the US Food and Drug Administration.
Aberdeen Asset Management shares were higher after it posted a 10.6% increase in first-half revenue, boosted by markets and currencies, as outflows slowed.
UAE-based healthcare provider NMC Health gained ground after saying it expects an earnings boost from regulatory changes in Abu Dhabi.
Bovis Homes edged up despite saying it would take a one-off £2.8m hit from the failed merger efforts with Redrow and Galliford Try earlier this year.
Ocado shares surged on reports it is considering a tie-up with Marks & Spencer.
On the downside, online food delivery company Just Eat was in the red despite reporting a 46% rise in first-quarter revenue and reiterating its full-year guidance
Challenger bank Shawbrook fell despite reporting a solid first quarter, as its board announced more details about why it continues to recommend shareholders reject a buyout offer from Pollen Street and BC Partners.
Media distribution and film production company Entertainment One was on the back foot as it appointed Joe Sparacio as chief financial officer. |
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| Market Movers
FTSE 100 (UKX) 7,243.89 0.55%
FTSE 250 (MCX) 19,644.49 0.15%
techMARK (TASX) 3,483.11 0.24%
FTSE 100 - Risers
BP (BP.) 455.00p 2.82%
Rentokil Initial (RTO) 252.80p 1.53%
Standard Life (SL.) 369.30p 1.48%
Croda International (CRDA) 3,819.00p 1.46%
Hikma Pharmaceuticals (HIK) 1,964.00p 1.39%
Royal Dutch Shell 'A' (RDSA) 2,028.50p 1.30%
Unilever (ULVR) 4,020.00p 1.21%
Mediclinic International (MDC) 830.50p 1.16%
Royal Dutch Shell 'B' (RDSB) 2,075.50p 1.12%
Anglo American (AAL) 1,118.50p 1.08%
FTSE 100 - Fallers
Barclays (BARC) 208.65p -1.70%
Randgold Resources Ltd. (RRS) 6,705.00p -1.47%
Fresnillo (FRES) 1,432.00p -1.38%
International Consolidated Airlines Group SA (CDI) (IAG) 554.00p -1.07%
Taylor Wimpey (TW.) 198.70p -0.65%
easyJet (EZJ) 1,161.00p -0.60%
London Stock Exchange Group (LSE) 3,363.00p -0.59%
Direct Line Insurance Group (DLG) 347.40p -0.52%
SSE (SSE) 1,384.00p -0.50%
Standard Chartered (STAN) 717.90p -0.46%
FTSE 250 - Risers
Ocado Group (OCDO) 272.70p 8.65%
Aberdeen Asset Management (ADN) 286.70p 2.69%
AO World (AO.) 138.20p 2.37%
esure Group (ESUR) 249.60p 1.88%
Drax Group (DRX) 328.50p 1.70%
Kaz Minerals (KAZ) 516.50p 1.59%
NMC Health (NMC) 2,018.00p 1.56%
Riverstone Energy Limited (RSE) 1,271.00p 1.44%
Nex Group (NXG) 623.00p 1.38%
Petra Diamonds Ltd.(DI) (PDL) 131.30p 1.23%
FTSE 250 - Fallers
Just Eat (JE.) 555.50p -3.73%
IWG (IWG) 320.40p -1.39%
Senior (SNR) 211.50p -1.35%
Cairn Energy (CNE) 191.80p -1.29%
Telecom Plus (TEP) 1,236.00p -1.12%
Hochschild Mining (HOC) 251.40p -1.10%
Atkins (WS) (ATK) 2,124.00p -1.07%
Capital & Counties Properties (CAPC) 312.50p -1.04%
Aldermore Group (ALD) 255.90p -0.97% |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Slight gains for stocks on US tax cuts optimism Europe's main equity indices began the day on a positive note, buoyed by slight gains overnight in the US on the back of optimistic comments from US Treasury Secretary Steve Mnuchin.
As of 0811 GMT the benchmark Stoxx 600 was higher by 0.20% or 0.78 points to 387.73, alongside gains of 0.30% to 12,475.27 and an advance of 0.37% in the Cac-40 to 5,286.95.
In parallel, front month Brent crude oil futures are up by 0.04% to $51.54 a barrel on the ICE, while euro/dollar is advancing 0.16% to 1.0916.
"A positive opening call comes as investors return with optimism from a long weekend in spite of disappointing China PMI prints - Manufacturing falling to a 6/7-month low as the rebound moderates - and a mixed session from the US that flowed to Asia overnight as geopolitical risk keeps simmering," said Mike van Dulken, Head of Research at Accendo Markets.
In remarks to Bloomberg TV on Monday, Mnuchin said a combination of tax reforms, regulatory 'relief' and better terms on the country's trade deals could boost US economic growth to 3% on a sustained basis.
One percentage point of additional GDP growth over a decade might generate $2trn of increase tax revenues, Mnuchin said.
His comments helped to offset disappointing news from China, as Caixin's manufacturing sector PMI fell from a reading of 51.2 for March to a seven-month low of 50.3 in April (consensus: 51.3).
On the corporate calendar for Tuesday is a final reading on IHS Markit's euro area manufacturing sector purchasing managers' index for the month of April, at 09:00 GMT, alongside Eurozone unemployment figures one hour afterwards.
Later in the afternoon, the main automakers are set to report their US sales data for April.
Shares in Allianz are moving higher after the insurance group said it would aqcuire British water supply company Affinity.
Bayer is trading lower by 2% after indicating it is seeking approval from US regulators in order to be able to complement dosage options for its stroke prevention pill Xarelto |
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| | UK Event Calendar | | Tuesday 02 May
INTERIM DIVIDEND PAYMENT DATE
Manchester & London Investment Trust, NWF Group, Smith (DS)
QUARTERLY PAYMENT DATE
Mercantile Investment Trust (The)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Import Price Index (GER) (07:00)
Unemployment Rate (US) (08:55)
FINALS
Action Hotels
AGMS
Bovis Homes Group, Howden Joinery Group, Lighthouse Group, Randgold Resources Ltd., RPS Group
TRADING ANNOUNCEMENTS
Just Eat
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (00:00)
FINAL DIVIDEND PAYMENT DATE
Essentra, Foreign and Colonial Inv Trust, LSL Property Services
Q1
BP, Shire Plc
|
| | US Market Report | | US close: Banks wobble after Trump's break-up talk Wall Street started the week on a mixed note on the heels of weaker-than-expected economic data and comments from US president Donald Trump suggesting that he was mulling a break-up of the largest US banks.
The Dow Jones Industrials fell 27.05 points or 0.13% to end the day at 20,913.46, with the S&P 500 edging 4.13 points higher to 2,388.33 and the Nasdaq Composite up by 0.13% or 44 points at 6,091.60.
The Institute for Supply Management's manufacturing sector PMI fell back from a reading 57.2 for March to 54.8 in April, undershooting forecasts for a reading of 56.5 by a wide margin.
A subindex linked to employment conditions contained withing the same report retreated from 58.9 to 52.0 and another referencing new orders declined from 64.5 to 57.5.
According to economists at Barclays, Monday's data brought the series more in line with real readings on output levels.
"Post-election, the series surged, but this sharp rise was not matched with a surge in production. Instead, production has moved only modestly higher. We expect further modest gains this year."
Despite such a weak reading, yields on the benchmark 10-year US Treasury note jumped by four basis points to 2.32% after Treasury Secretary Steve Mnuchin said issuance of so-called ultra-long bonds "absolutely" makes sense.
Personal income and spending data for March also fell short of expectations, amid downwards revisions to figures for January and February. Incomes rose by 0.2% month-on-month (consensus: 0.3%) while consumption was unchanged.
The headline personal consumption expenditures price deflator also printed below forecasts, advancing by 1.8% (consensus: 1.9%).
From a sector standpoint, the best performing areas of the market were Coal (2.17%), Retail REITs (1.77%) and Computer hardware (1.74%).
Banks also put in a good showing, with the KBW sector gauge rising 0.93% to 92.08 despite the US president's comments.
Dow Jones - Risers
Apple Inc. (AAPL) $146.58 2.04%
Microsoft Corp. (MSFT) $69.41 1.39%
McDonald's Corp. (MCD) $141.15 0.87%
Exxon Mobil Corp. (XOM) $82.06 0.50%
Goldman Sachs Group Inc. (GS) $224.85 0.47%
Intel Corp. (INTC) $36.31 0.44%
Coca-Cola Co. (KO) $43.22 0.16%
Merck & Co. Inc. (MRK) $62.38 0.08%
JP Morgan Chase & Co. (JPM) $87.06 0.07%
Wal-Mart Stores Inc. (WMT) $75.23 0.07%
Dow Jones - Fallers
Boeing Co. (BA) $182.39 -1.32%
Home Depot Inc. (HD) $154.21 -1.21%
International Business Machines Corp. (IBM) $158.84 -0.90%
Nike Inc. (NKE) $54.99 -0.76%
S&P 500 - Risers
GGP Inc (GGP) $22.61 4.63%
Macerich Co (MAC) $64.67 3.59%
Lam Research Corp. (LRCX) $149.22 3.02%
Alexion Pharmaceuticals Inc. (ALXN) $131.59 2.98%
Applied Materials Inc. (AMAT) $41.70 2.68%
Endo International Plc (ENDP) $11.67 2.64%
Amazon.Com Inc. (AMZN) $948.23 2.51%
Cabot Oil & Gas Corp. (COG) $23.80 2.41%
Wynn Resorts Ltd. (WYNN) $125.92 2.37%
Charles Schwab Corp. (SCHW) $39.73 2.27%
S&P 500 - Fallers
Affiliated Mgrs Group (AMG) $155.84 -5.89%
Newell Brands Inc (NWL) $46.00 -3.64%
Bed Bath & Beyond Inc. (BBBY) $37.43 -3.41%
Transocean Ltd. (RIG) $10.66 -3.35%
Newmont Mining Corp. (NEM) $32.68 -3.34%
VF Corp. (VFC) $52.92 -3.13%
Helmerich & Payne Inc. (HP) $58.79 -3.05%
Diamond Offshore Drilling Inc. (DO) $14.00 -2.91%
Discovery Communications Inc. Class C (DISCK) $27.19 -2.82%
Discovery Communications Inc. Class A (DISCA) $27.98 -2.78%
Nasdaq 100 - Risers
Ctrip.Com International Ltd. Ads (CTRP) $52.08 3.11%
Lam Research Corp. (LRCX) $149.22 3.02%
Alexion Pharmaceuticals Inc. (ALXN) $131.59 2.98%
Tesla Inc (TSLA) $322.83 2.79%
Applied Materials Inc. (AMAT) $41.70 2.68%
Amazon.Com Inc. (AMZN) $948.23 2.51%
Nvidia Corp. (NVDA) $106.64 2.24%
Micron Technology Inc. (MU) $28.29 2.24%
Expedia Inc. (EXPE) $136.60 2.15%
Autodesk Inc. (ADSK) $91.98 2.12%
Nasdaq 100 - Fallers
Discovery Communications Inc. Class C (DISCK) $27.19 -2.82%
Discovery Communications Inc. Class A (DISCA) $27.98 -2.78%
O'Reilly Automotive Inc. (ORLY) $241.70 -2.60%
Dollar Tree Inc (DLTR) $80.75 -2.44%
Idexx Laboratories Inc. (IDXX) $163.73 -2.38%
Dish Network Corp. (DISH) $62.93 -2.34%
Mondelez International Inc. (MDLZ) $44.06 -2.15%
Mattel Inc. (MAT) $21.99 -1.92%
Monster Beverage Corp (MNST) $44.56 -1.81%
Western Digital Corp. (WDC) $87.70 -1.54%
Walt Disney Co. (DIS) $114.73 -0.75%
Chevron Corp. (CVX) $105.92 -0.73%
3M Co. (MMM) $194.81 -0.52%
Pfizer Inc. (PFE) $33.78 -0.41%
Travelers Company Inc. (TRV) $121.18 -0.39%
E.I. du Pont de Nemours and Co. (DD) $79.49 -0.33% |
| | Newspaper Round Up | | Tuesday newspaper round-up: Fed, Brexit battle, car finance, Lloyds The chances of the US Federal Reserve raising interest rates this week were put at less than 5 per cent yesterday after a key measure of inflation fell for the first time in more than 15 years. The core personal consumption expenditures price index fell by 0.1 per cent in March compared with the previous month. The annualised rate of 1.6 per cent fell short of the Fed's 2 per cent target. - The Times
The EU has been plotting for weeks to thwart Theresa May's plans to secure a deal for British expats in Europe and migrants in the UK. Jean-Claude Juncker, the European Commission president, is reported to have been "astonished" by Mrs May's demand that an agreement be reached by the end of next month. - Daily Telegraph
Theresa May faced criticism last night for her handling of Brexit talks after a damaging account of her recent dinner with the president of the European Commission was leaked. She was accused of "megaphone diplomacy" and a complacent approach over her allegedly fractious exchanges with Jean-Claude Juncker. - The Times
Britain's £40 billion car finance market could be heading towards a mis-selling scandal because of concerns about the reliance on debt to buy vehicles. Nearly 90 per cent of new cars are sold using personal contract plans (PCP) finance deals, most of which mean the owner in effect leases a vehicle for three or four years rather than buys it outright. - The Times
Greece has reached a preliminary deal with its creditors that should pave the way for long-awaited debt relief talks, the Greek finance minister said on Tuesday. "The negotiations are concluded," Euclid Tsakalotos told reporters, according to state agency ANA. - Guardian
Lloyds Banking Group has shrugged off concerns that its practice of booking revenue upfront from customers who have interest-free periods on their credit cards is a "ticking time bomb". The state-back lender is about to become the biggest player in Britain's £146-billion-a-year credit card industry after agreeing to buy MBNA from Bank of America. - The Times
The government is resisting calls to intervene and protect the stability of Britain's gas supply, despite warnings that the country's main gas storage site is likely to close. Industrial groups are lobbying the business department to support new gas storage facilities, amid fears that the demise of Centrica's Rough facility in the North Sea will expose them to damaging winter price rises. - The Times
Parents are predicted to lend more than £6.5bn this year to help their children get on the property ladder as first-time buyers continue to struggle to afford homes. This is a 30% increase on the £5bn loaned in 2016, according to research from Legal & General and economics consultancy Cebr, and means parents will be involved in more than 25% of UK property transactions. - Guardian
The organisation at the heart of the government's plans to boost pension saving among low-paid workers has been accused of receiving an unfair subsidy that risks putting rival providers out of business. The National Employment Savings Trust, which was set up to facilitate auto-enrolment as part of workplace pension reforms, benefits from a cheap loan scheme from the Department for Work and Pensions. - The Times
Easier access to mortgages with a small deposit has offered some glimmers of hope for first-time buyers struggling to get on to Britain's housing ladder, according to a new report. Research on the amount of time it takes to save for a down payment on a home suggests buyers have been helped by the greater availability of mortgage loans at higher loan-to-value (LTV) ratios. - Guardian
A British company at the heart of the efforts to make large aircraft more fuel-efficient and less environmentally damaging is set to float on the junior market of the London Stock Exchange. Velocity Composites, based in Burnley, Lancashire, at the core of northwest England's aerospace manufacturing cluster, will join the Alternative Investment Market with plans to expand overseas. - The Times
Apple's cash pile has swelled to over $250bn (£194bn), a sum greater than the combined foreign reserves of the British government and Bank of England. The technology giant will reveal on Tuesday that its reserves have been boosted once again after making a quarterly profit of over $10bn. - Telegraph
Twitter's shares rose more than 6pc on Monday after a report that the company is partnering with Bloomberg for streaming news, marking the stock's third straight day of gains following strong results last week. Twitter and Bloomberg Media will create a service that will stream news produced solely for Twitter, the Wall Street Journal reported.
US auto giant General Motors is poised to become the first manufacturer to make a profit from electric vehicles, a GM executive predicted on Monday. The company leads the pack in reducing the cost of electric vehicles and ultimately offering an affordable version, said Mark Reuss, GM's executive vice president for product development. - Telegraph
The British entertainment industry has joined forces with its counterparts across Europe to attack moves in Brussels it claims will "severely erode" the "absolute cornerstone" of the film and television businesses. More than two dozen UK organisations, including the British Film Institute, Odeon Cinemas, Sky and the Premier League, have lined up against the European Commission's planned copyright overhaul. - Telegraph
21st Century Fox is in talks with private equity giant Blackstone to buy Tribune Media, one of America's largest television station operators, sources familiar with the matter have said. Blackstone would provide the cash while the Rupert Murdoch-controlled Fox, which owns Fox News Channel and other assets, would provide the TV stations for the joint venture, according to one of the sources. - Guardian
Ministers have been urged to tighten the rules around pre-pack administrations after figures showed that a voluntary system for preventing abuses was largely being ignored. Only 28 per cent of eligible cases were referred to the Pre Pack Pool in its first 14 months, according to its inaugural annual report. - The Times | | | | To advertise in the Euro Markets Bulletin please contact [email protected] |
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