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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 lower ahead of jobs data London stocks nudged lower in early trade as investors sifted through a raft of corporate news and awaited the release of UK unemployment data.
At 0830 BST, the FTSE 100 was down 0.2% to 7,507.53 after closing above 7,500 for the first time in the previous session. Meanwhile, the pound was flat against the dollar at 1.2915.
The unemployment rate, average earnings and the claimant count are all due at 0930 BST.
Accendo Markets analyst Mike van Dulken said the onus may be placed on weekly earnings figures after Tuesday's "blowout" inflation data, which highlighted a fresh squeeze on consumers. "Headline unemployment is seen remaining at 4.7% while weekly earnings (ex-bonus) are seen falling to 2.1% from 2.2% previously, well below yesterday's CPI print of 2.7%."
Investors were also likely to keep an eye on the US following reports that President Trump asked former Federal Bureau of Investigation director James Comey to end his investigation into former National Security Adviser Michael Flynn's ties with Russia. According to The New York Times, Trump told Comey he should consider trying to jail journalists for publishing classified information.
On the UK corporate front, British Land fell despite reporting a much stronger net asset value at its year end than the market was expecting and, despite the ongoing uncertainty around the economy, saying it was confident of generating better returns in the year ahead.
Energy supplier SSE edged lower despite posting results that were better than it expected and lifting its total dividend.
Pub group Mitchells & Butlers was in the red as it reported a drop in profit for the 28 weeks to 8 April despite a rise in sales, pointing to increased costs and exchange rate movements.
Trade publication and events group UBM nudged lower after saying it has performed in line with management expectations and its outlook for the full year is unchanged, while wealth manager Brewin Dolphin was on the back foot despite a rise in funds and profit for the half year to the end of March.
Spectris was also weaker as it appointed a new chairman and highlighted mixed trading in the year to date, while shares in estate agency Foxtons fell after it reported a 25% drop in revenues for the quarter to the end of March.
Dunelm and Halfords were hit by downgrades at HSBC, while Hikma was dented by a downgrade at Jefferies.
On the upside, Lloyds Banking Group rose after the UK government sold down its remaining shares in the bank, returning it to full private ownership.
Hargreaves Lansdown bounced back from heavy falls on Tuesday on worries about competition from US fund manager Vanguard.
Countryside Properties rallied after it said full-year profit was likely to be ahead of market expectations and reported a 31% jump in half-year completions and an increase in profit, while Tullow Oil gushed higher after making an "important" discovery in Northern Kenya.
Cyber security company Sophos - whose shares have benefited from the recent WannaCry security hack - racked up healthy gains after its full-year results beat expectations, with reported billings up 18.2% and a big hike in the dividend. |
| Market Movers
FTSE 100 (UKX) 7,507.53 -0.19%
FTSE 250 (MCX) 19,819.03 -0.29%
techMARK (TASX) 3,610.49 -0.12%
FTSE 100 - Risers
Hargreaves Lansdown (HL.) 1,356.00p 2.42%
Fresnillo (FRES) 1,595.00p 2.05%
Kingfisher (KGF) 363.80p 1.56%
Randgold Resources Ltd. (RRS) 7,395.00p 1.02%
Lloyds Banking Group (LLOY) 70.68p 0.76%
Reckitt Benckiser Group (RB.) 7,569.00p 0.71%
Persimmon (PSN) 2,414.00p 0.54%
Royal Mail (RMG) 427.50p 0.47%
Barratt Developments (BDEV) 611.50p 0.41%
Taylor Wimpey (TW.) 197.20p 0.36%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 1,733.00p -1.87%
easyJet (EZJ) 1,199.00p -1.32%
British Land Company (BLND) 665.50p -1.26%
Ashtead Group (AHT) 1,604.00p -1.11%
Johnson Matthey (JMAT) 3,111.00p -1.02%
Rolls-Royce Holdings (RR.) 856.50p -0.98%
Standard Chartered (STAN) 756.10p -0.92%
Convatec Group (CTEC) 298.60p -0.86%
CRH (CRH) 2,850.00p -0.84%
SSE (SSE) 1,439.00p -0.83%
FTSE 250 - Risers
Sophos Group (SOPH) 388.00p 4.92%
Countryside Properties (CSP) 302.00p 3.46%
Tullow Oil (TLW) 205.20p 1.99%
Centamin (DI) (CEY) 163.00p 1.49%
Hochschild Mining (HOC) 274.60p 1.33%
Ferrexpo (FXPO) 169.20p 1.32%
Nostrum Oil & Gas (NOG) 495.70p 0.71%
Acacia Mining (ACA) 429.10p 0.68%
Serco Group (SRP) 123.00p 0.65%
Virgin Money Holdings (UK) (VM.) 308.00p 0.65%
FTSE 250 - Fallers
Mitchells & Butlers (MAB) 264.10p -3.96%
Dunelm Group (DNLM) 597.00p -3.08%
Halfords Group (HFD) 352.10p -2.22%
Auto Trader Group (AUTO) 410.20p -2.17%
CYBG (CYBG) 275.80p -1.71%
Ted Baker (TED) 2,478.00p -1.59%
Euromoney Institutional Investor (ERM) 1,073.00p -1.56%
Pets at Home Group (PETS) 157.80p -1.50%
Wetherspoon (J.D.) (JDW) 1,043.00p -1.42% |
| | "Renewable energy is about to boom in Africa and we need to pay attention to it" (Forbes) - Register your interest |
| | UK Event Calendar | | Wednesday 17 May
INTERIMS
Brewin Dolphin Holdings, Countryside Properties, Mitchells & Butlers, Patisserie Holdings , Redx Pharma
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (EU) (10:00)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
FINALS
British Land Company, C&C Group, JZ Capital Partners Ltd, Sophos Group , SSE, Wincanton
AGMS
Bodycote, BP, Cairn Homes , Cairn Homes , Cenkos Securities, Chesnara, Civitas Social Housing , esure Group, Foxtons Group , Highland Gold Mining Ltd., Indivior, Jupiter Fund Management , Kings Arms Yard VCT, Maven Income & Growth 4 VCT, Meikles Ltd., Menhaden Capital , Ophir Energy, Paddy Power Betfair, Playtech, Premier Oil, Sigmaroc , Tritax Big Box Reit , UBM, Vitec Group, Zegona Communications
TRADING ANNOUNCEMENTS
Synectics
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
Aviva, GKN, Hochschild Mining, OneSavings Bank, Rentokil Initial
|
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| | US Market Report | | US close: Markets mixed as retailers weigh on indices Retailers' shares were weighing on US stock benchmarks on Tuesday, while accusations that the president might have shared confidential information with visiting Russian diplomats took its toll on the dollar.
The Dow Jones Industrial Average finished down 0.01% at 20,979.75 and the S&P 500 lost 0.07% to 2,400.67, although the Nasdaq 100 managed a gain of 0.35% to settle at 5,724.44.
Overnight on Monday, the Washington Post reported Donald Trump had breached the trust of one of its allies, by revealing information regarding a possible Isis plot to target airliners using laptop computers.
On Monday evening, Trump received Russian foreign policy czar Sergei Lavrov and the country's ambassador in the US in the Oval Office.
The report was denied by national security adviser HR McMaster, who said no sources nor the methods used to gather the intelligence had been discussed.
Trump appeared to all but confirm the reports, however, leading to confusion as he told of his right to discuss any information with anyone if he so chooses.
Earlier on Tuesday, Senate majority leader Mitch McConnell told a reporter he'd prefer "less drama" from the White House.
Economic data was somewhat mixed on Tuesday, with figures from the Federal Reserve showing that increased auto output and steady growth in mining sent US industrial production higher by 1.0% month-on-month in April, dwarfing forecasts for a rise of 0.4%.
Housing starts and permits undershot economists' forecasts for the same month, but analysts put the weak data down to the impact from weather-related factors and a shift in the timing of Easter.
On the corporate front, Dick's Sporting Goods was down 13.73% after reporting that first quarter like-for-like sales grew by 2.4%.
Stock in another retailer, TJX Companies, was also on the back foot by 4.08% after the company posted sales of $7.78bn for the latest three-month stretch, undershooting analysts' forecasts calling for $7.88bn.
Ford Motor finished flat on the back of reports that it is planning to cut 10% of its global workforce in order to bolster profits.
Home Depot was a bright spot, adding 0.59% after the DIY specialist nudged its guidance for full-year earnings per share higher on the back of a robust outlook for the housing market.
Dow Jones - Risers
International Business Machines Corp. (IBM) $153.67 1.43%
Microsoft Corp. (MSFT) $69.41 1.43%
McDonald's Corp. (MCD) $147.29 0.69%
Johnson & Johnson (JNJ) $127.77 0.61%
Home Depot Inc. (HD) $158.29 0.59%
Intel Corp. (INTC) $35.82 0.53%
Merck & Co. Inc. (MRK) $63.79 0.44%
United Technologies Corp. (UTX) $121.40 0.40%
Chevron Corp. (CVX) $107.24 0.37%
JP Morgan Chase & Co. (JPM) $87.61 0.31%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $168.12 -1.99%
Nike Inc. (NKE) $52.78 -1.84%
Pfizer Inc. (PFE) $32.59 -1.57%
Wal-Mart Stores Inc. (WMT) $75.11 -1.55%
Walt Disney Co. (DIS) $107.98 -1.05%
General Electric Co. (GE) $28.04 -0.50%
E.I. du Pont de Nemours and Co. (DD) $79.07 -0.45%
Exxon Mobil Corp. (XOM) $82.55 -0.30%
Travelers Company Inc. (TRV) $119.94 -0.27%
American Express Co. (AXP) $78.13 -0.26%
S&P 500 - Risers
Frontier Communications Co. (FTR) $1.35 4.65%
Qorvo, Inc. (QRVO) $74.84 4.61%
Yahoo! Inc. (YHOO) $50.96 2.21%
Brown Forman Corp. Class B (BF.B) $50.44 2.00%
Microchip Technology Inc. (MCHP) $81.63 1.87%
Nvidia Corp. (NVDA) $136.81 1.86%
eBay Inc. (EBAY) $34.81 1.84%
Wynn Resorts Ltd. (WYNN) $127.91 1.77%
Citigroup Inc. (C) $62.49 1.74%
Applied Materials Inc. (AMAT) $45.07 1.69%
S&P 500 - Fallers
TEGNA Inc (TGNA) $22.01 -6.42%
H&R Block Inc. (HRB) $25.18 -6.01%
DaVita Inc (DVA) $62.09 -5.97%
Kimco Realty Corp. (KIM) $18.15 -4.17%
Mallinckrodt Plc Ordinary Shares (MNK) $44.84 -4.17%
TJX Companies Inc. (TJX) $73.76 -4.08%
Under Armour Inc. Class A (UAA) $19.50 -3.99%
Staples Inc. (SPLS) $8.99 -3.54%
Ralph Lauren Corp (RL) $73.97 -3.41%
Federal Realty Inv Trust (FRT) $122.46 -3.25%
Nasdaq 100 - Risers
Vodafone Group Plc ADS (VOD) $28.69 4.02%
Baidu Inc. (BIDU) $190.64 2.42%
Ctrip.Com International Ltd. Ads (CTRP) $56.43 2.30%
Yahoo! Inc. (YHOO) $50.96 2.21%
NetEase Inc. Ads (NTES) $289.70 1.92%
Microchip Technology Inc. (MCHP) $81.63 1.87%
Nvidia Corp. (NVDA) $136.81 1.86%
eBay Inc. (EBAY) $34.81 1.84%
Wynn Resorts Ltd. (WYNN) $127.91 1.77%
Applied Materials Inc. (AMAT) $45.07 1.69%
Nasdaq 100 - Fallers
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $50.31 -2.31%
Dollar Tree Inc (DLTR) $79.10 -2.27%
Symantec Corp. (SYMC) $31.32 -2.13%
Twenty-First Century Fox Inc Class B (FOX) $27.11 -2.02%
Liberty Global plc Series A (LBTYA) $29.46 -1.87%
Discovery Communications Inc. Class C (DISCK) $24.81 -1.78%
Citrix Systems Inc. (CTXS) $84.83 -1.74%
Liberty Global plc Series C (LBTYK) $29.00 -1.66%
Discovery Communications Inc. Class A (DISCA) $25.58 -1.65% |
| | Market Analysis 12/05/2017 Today’s highlights: Indices low while oil and gold show gains - Wall Street closes lower: All three major indices finished in the red at the end of yesterday’s trading day. Macy’s earnings report missed predictions, causing its stock to tank 17%.
- Boeing stock drops following 737 problem: Aviation powerhouse Boeing saw its stock price drop yesterday, after announcing it is suspending flights for its 737 Max model due to an engine problem. While prices recovered after the announcement, they fell slightly again after-hours.
- Asia seen lower: Indices in Asia were trading lower this morning, with the ASX 200 and Nikkei losing 0.87% and 0.57% respectively.
- Volatility expected for US Dollar today: CPI and Retail reports will be released at 12:30 GMT today. These reports..
Read More... |
| | Newspaper Round Up | | Wednesday newspaper round-up: Tata Steel, Lloyds, Balfour Beatty Dominic Chappell, the former owner of BHS, could be pursued for millions of pounds owed to Philip Green's business empire as well as to creditors of the now collapsed department store. Chappell's Retail Acquisitions (RAL), which bought BHS for £1 in 2015, has been accused of extracting an estimated £17m from the retailer despite owning it for just 13 months before it went into administration in 2016. - Guardian
Tata Steel has taken a step towards helping secure the future of its UK operations - including the Port Talbot works in south Wales - by reaching an outline agreement over the restructuring of its pension scheme. Unions reacted cautiously to the announcement by the Indian-owned company that it would pump £550m into the British Steel pension scheme - one of the UK's largest, with liabilities of £15bn and 130,000 members, including former employees from the days when it was part of a state-owned company. The scheme will also get a 33% stake in Tata's UK business. - Guardian
Lloyds Banking Group has finally closed the darkest chapter in its history after the Government offloaded its remaining shareholding, removing the last vestiges of the lender's £20.3bn bailout at the height of the financial crisis. The Treasury and the 252-year-old bank have announce that the taxpayer's residual 0.25pc stake was sold into the market today, returning Lloyds to full private ownership almost a decade after its 2008 rescue. - Telegraph
The wind developer behind the world's largest working wind turbines has said the size of its giant offshore blades, currently in UK waters, will double again within seven years. Dong Energy will officially open the second phase of its giant Burbo Bank offshore wind farm off the coast of Merseyside coast later today by showcasing its 8MW turbines, the largest ever used. - Telegraph
Balfour Beatty faces a revolt at its annual shareholder meeting tomorrow as a leading corporate governance adviser recommends a vote against the top executives' proposed pay deal. Institutional Shareholder Services (ISS), the world's biggest proxy voting agency, has recommended that investors in the FTSE 250 infrastructure and construction company - which has been involved in some of the UK's biggest projects, such as Crossrail and the Thames Tideway Tunnel - reject the £3.76 million package for Leo Quinn, the chief executive. - The Times
The decision by Vanguard, the low-cost fund manager, to create its own fund supermarket to sell its goods, is likely to have a long-term impact on the investment industry similar to that of Aldi and Lidl on UK food retailing. Just as established players such as Sainsbury's and Tesco had to engage in cost-cutting campaigns in an attempt to preserve market share, so the giants of the fund supermarket world will be wondering whether they need to lower their prices to stop customers deserting them for their cheaper rival. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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