| | | | | | | How to capitalise on the impact of Crossrail This comprehensive report looks at the investment opportunity Europe’s largest construction project has to offer, the economic, real estate, and housing benefits of Crossrail, and how you could capitalise. Capital at risk. Download your copy of How to capitalise on Crossrail here. Your capital and interest are at risk. | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Elis makes new £2bn bid for Berendsen; dismissed as 'opportunistic' Laundry services group Berendsen on Thursday dismissed a new £2.05bn bid by French rival Elis as "opportunistic".
Elis upped the ante in the morning by offering 440 pence in cash and 0.426 new Elis shares for each Berendsen share.
"The board believes Elis is making an opportunistic attempt to acquire Berendsen whilst it is implementing its capital investment programme, without reflecting the value upside inherent in this strategy. The board believes this value should accrue fully to Berendsen shareholders alone," Berendsen said in a statement.
After two rejected offers on April 28 and May 12, Elis said it had decided to appeal directly to Berendsen's shareholders.
"Elis is willing to move quickly and cooperatively to engage with Berendsen with a view to achieving a transaction for the benefit of Berendsen and Elis shareholders," it said in a statement.
However, Berendsen chairman Iain Ferguson said the new proposal "very significantly" undervalued his company, calling it "highly opportunistic" and failing to reflect the inherent value of the business.
"As an independent company, the entire value of delivery on Berendsen's strategy will accrue to our shareholders; under Elis's proposal that value upside will be materially diluted," he said. |
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| | UK Event Calendar | | Thursday 18 May
INTERIMS
Euromoney Institutional Investor, Marston's, Thomas Cook Group
INTERIM EX-DIVIDEND DATE
Bellway, Cambria Automobiles, Fidelity Special Values, Filta Group Holdings, Numis Corporation, Utilitywise plc
QUARTERLY PAYMENT DATE
Merchants Trust
QUARTERLY EX-DIVIDEND DATE
Blackrock North American Income Trust , M Winkworth, MedicX Fund Ltd., Royal Dutch Shell 'A', Royal Dutch Shell 'B', The Renewables Infrastructure Group Limited, TwentyFour Select Monthly Income Fund Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Wholesale Price Index (GER) (07:00)
FINALS
Burberry Group, Elektron Technology, Experian, Land Securities Group, Mothercare, National Grid, Royal Mail
SPECIAL EX-DIVIDEND DATE
Great Portland Estates
AGMS
Balfour Beatty, Cineworld Group, Crossrider , Damille Investments II Ltd, Great Western Mining Corporation, Gresham House, Hiscox Limited (DI), Instem, JRP Group, Learning Technologies Group , Next, North Midland Construction, PJSC Novorossiysk Commercial Sea Port GDR (Reg S), ProPhotonix (DI), Prudential, S&U, Safestyle UK , Science Group , Staffline Group, Stilo International, Zhejiang Expressway Co 'H' Shares
TRADING ANNOUNCEMENTS
Greggs
UK ECONOMIC ANNOUNCEMENTS
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Chemring Group, Direct Line Insurance Group, Dunedin Enterprise Investment Trust, Ladbrokes Coral Group, Maintel Holdings, Mondi, Quixant
FINAL EX-DIVIDEND DATE
Ascential, BlackRock Emerging Europe, BlackRock Smaller Companies Trust, Cape, Clarkson, Dignity, Elderstreet VCT, Howden Joinery Group, Inchcape, Intertek Group, Keller Group, Non-Standard Finance, North American Income Trust (The), Pagegroup, Provident Financial, Quarto Group Inc., Robert Walters, Robinson, Science Group , St Peter Port Capital Ltd, Tandem Group, Ted Baker, TT Electronics, Witan Pacific Inv Trust
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| | US Market Report | | US close: Markets slide as Trump turmoil heats up Fresh allegations of improprieties in the Oval Office finally provoked a response from Wall Street on Wednesday, sending some traders dashing to buy protection from downside risks.
The Dow Jones Industrial Average ended down 1.78% to 20,606.93, with the S&P 500 shedding 1.82% to 2,357.03 and the Nasdaq 100 off by 2.51% to 5,580.55.
Overnight on Tuesday, The New York Times said US president Donald Trump had asked Federal Bureau of Investigation chief James Comey to "let go" of an investigation into his former national security adviser, Michael Flynn.
IG's Chris Beauchamp sounded a word of prudence, telling clients not to rush to the assumption that Donald Trump was inevitably headed towards impeachment hearings.
"Over-eager bears should tread with care," Beauchamp said.
"His election campaign always seemed one day away from disaster, and his presidency thus far has been remarkably similar.
"But the campaign won out in the end, and it would be unwise to assume that impeachment is now a given."
Banks were among the worst performers at the start of trading on Wednesday, alongside losses for investment services, apparel retailers, toys and leisure goods.
Stock in American Eagle Outfitters was 14.74% lower as the retailer became the latest in the growing list of companies in its sector to disappoint investors.
The teen apparel retailer posted first quarter earnings per share of 16 cents, although it did beat on sales its guidance fell short of Wall Street estimates.
Target Corporation pleased markets, rising 0.94% after posting better than expected first quarter EPS of $1.21, with management reaffirming its annual guidance for profits.
Shares in Concert Pharmaceuticals slid 7.48% after the FDA put its hair loss drug on clinical hold.
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $168.86 0.44%
Travelers Company Inc. (TRV) $120.25 0.27%
Coca-Cola Co. (KO) $43.93 0.18%
Procter & Gamble Co. (PG) $86.26 0.02%
Wal-Mart Stores Inc. (WMT) $75.12 0.01%
McDonald's Corp. (MCD) $146.41 -0.60%
Exxon Mobil Corp. (XOM) $81.99 -0.68%
Johnson & Johnson (JNJ) $126.67 -0.86%
Pfizer Inc. (PFE) $32.23 -1.13%
Merck & Co. Inc. (MRK) $63.00 -1.24%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $213.72 -5.27%
JP Morgan Chase & Co. (JPM) $84.27 -3.81%
Apple Inc. (AAPL) $150.25 -3.36%
E.I. du Pont de Nemours and Co. (DD) $76.56 -3.21%
Microsoft Corp. (MSFT) $67.48 -2.78%
Chevron Corp. (CVX) $104.70 -2.38%
American Express Co. (AXP) $76.37 -2.25%
General Electric Co. (GE) $27.41 -2.25%
Intel Corp. (INTC) $35.04 -2.18%
Caterpillar Inc. (CAT) $100.14 -2.15%
S&P 500 - Risers
Colgate-Palmolive Co. (CL) $75.69 5.74%
Extra Space Storage (EXR) $75.27 4.85%
Brown Forman Corp. Class B (BF.B) $52.28 3.61%
DaVita Inc (DVA) $63.95 3.00%
Progressive Corp. (PGR) $41.16 2.59%
Public Storage (PSA) $212.95 2.31%
Crown Castle International (CCI) $98.12 2.28%
Ventas Inc. (VTR) $66.32 2.00%
American Tower Corp (Reit) (AMT) $130.74 1.85%
Newmont Mining Corp. (NEM) $34.26 1.51%
S&P 500 - Fallers
Ball Corp (BLL) $39.98 -50.53%
Micron Technology Inc. (MU) $27.00 -6.96%
Citizens Financial Group, Inc. (CFG) $34.57 -6.77%
Nvidia Corp. (NVDA) $127.72 -6.64%
Charles Schwab Corp. (SCHW) $38.12 -6.27%
SunTrust Banks Inc. (STI) $53.59 -6.05%
United Rentals Inc. (URI) $105.10 -5.93%
Bank of America Corp. (BAC) $22.57 -5.92%
Electronic Arts Inc. (EA) $105.24 -5.83%
Huntington Bancshares Inc. (HBAN) $12.29 -5.75%
Nasdaq 100 - Risers
Incyte Corp. (INCY) $120.49 2.32%
Dish Network Corp. (DISH) $62.77 0.80%
Vodafone Group Plc ADS (VOD) $28.84 0.52%
Kraft Heinz Co. (KHC) $89.51 0.45%
Ross Stores Inc. (ROST) $61.52 0.03%
Monster Beverage Corp (MNST) $46.80 -0.02%
Liberty Global plc Series A (LBTYA) $29.44 -0.07%
Paychex Inc. (PAYX) $56.94 -0.38%
Verisk Analytics Inc. (VRSK) $78.50 -0.41%
Starbucks Corp. (SBUX) $59.73 -0.42%
Nasdaq 100 - Fallers
Micron Technology Inc. (MU) $27.00 -6.96%
Nvidia Corp. (NVDA) $127.72 -6.64%
Electronic Arts Inc. (EA) $105.24 -5.83%
Liberty Global Plc Lilac Class A (LILA) $20.24 -5.20%
Applied Materials Inc. (AMAT) $42.76 -5.13%
Skyworks Solutions Inc. (SWKS) $100.55 -4.69%
Activision Blizzard Inc. (ATVI) $54.23 -4.49%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $48.07 -4.45%
Texas Instruments Inc (TXN) $78.68 -4.36% |
| | 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 | | Thursday newspaper round-up: VW, Lloyds, May, Hinkley Point Countries seeking a trade deal with the EU should meet European standards on labour law and fair competition, one of the bloc's most senior officials has said in remarks that reinforce Brexit red lines. Margrethe Vestager, the EU competition commissioner, described the trade agreement with Canada as a model for the future because it enshrined recognition of labour standards, human rights and animal welfare. - Guardian
The Volkswagen chief executive and his predecessor are facing an investigation by German authorities into whether they misled investors by not releasing information about the company's cheating on diesel emissions tests soon enough. Prosecutors in Stuttgart yesterday formally launched their case against Matthias Müller and his predecessor Martin Winterkorn, who resigned as VW chief executive when the diesel emissions scandal broke in September 2015. The investigation relates to their role as executives in 2015 at Stuttgart-based Porsche Automobil Holding SE, the holding company that controls Volkswagen. PorscheSE chairman Hans Dieter Pötsch is also under investigation.- Guardian
The chairman of Lloyds Banking Group has given the strongest signal yet that chief executive Antonio Horta-Osorio will remain with the bank for the foreseeable future despite speculation about his tenure. Amid continued reports linking the Portuguese banker to the top job at HSBC, Lord Blackwell assured that Mr Horta-Osorio has no intention of leaving the bank in the short - term. - Telegraph
Theresa May is to commit to wipe out the UK deficit by the middle of the next decade, allowing for greater borrowing levels to support the economy in the run-up to Brexit. The undertaking, which will be viewed by some as a loosening of fiscal policy, is a departure from Philip Hammond's pledge at the Budget in March, at which he said the deficit would fall to 0.7pc by 2021-22, the lowest level in two decades. - Telegraph
Britain's new £18 billion nuclear power plant is being funded by illegal French state aid, according to a lawsuit filed by Greenpeace. The environmental group is urging the European Commission to order EDF, the French state-owned energy giant that is building the plant at Hinkley Point in Somerset, to repay the €6.8 billion it received from the French government. - The Times
Creditors of the European operations of Lehman Brothers have won a £5 billion court victory against the defunct Wall Street bank's administrators. The administrators have paid £11.5 billion to creditors, which include several big hedge funds, but had asked for a court ruling on what should be done with the interest that had accumulated on the money while the complex web of claims was untangled. - The Times
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