Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Tuesday, 13 June 2017 09:39:51 Monitor Quote Charts News CFD's Compare Brokers Free BB   Cheaper than a Coffee This report analyses some of the cheapest FTSE 100 stocks that money can buy. We'll bring to your attention our top six stocks that cost less than your daily coffee and share not just our own technical analysis, but also the opinions of major global financial institutions. Download a copy of this report here Losses can exceed deposits London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks, sterling nudge higher ahead of inflation data London stocks and sterling nudged higher in early trade on Tuesday as investors eyed the release of key inflation data. At 0830 BST, the FTSE 100 was up 0.1% to 7,519.82, while the pound was up 0.3% against the euro at 1.1329 and 0.2% higher versus the dollar at 1.2680 ahead of the retail price index, producer price index and consumer price index at 0930 BST. Spreadex analyst Connor Campbell said: "After a rapid climb from a pre-referendum 0.3% to 2.7% in April, May's inflation reading is expected to show that the CPI hasn't moved from that 4 year peak. It's worth noting, however, that it's a long time since analysts' estimates were on the money - since January alone the reading has outperformed forecasts 4 out of 5 times. "Normally this would inspire talk of a rate hike from the Bank of England (the MPC meet on Thursday). However, the central bank already seemed pretty damn dovish before the election; now the country is once again swamped in political uncertainty there is even less of a chance that there will be an increase in interest rates any time soon." Sterling had been under the cosh again on Monday as investors continued to assess the implications of a hung parliament on the UK economy. Prime Minister Theresa May addressed her party's backbench 1922 Committee, apologising for "getting us into this mess" but also pledging to "get us out of it" and to serve as "long as you want me to do it". Tuesday also marks the first day of the Federal Reserve's two-day interest rate setting meeting, which is expected to yield the second rate hike this year. In corporate news, Acacia Mining was in the black as it confirmed that it is continuing to operate all three of its mines in Tanzania, after the government accused it of operating illegally and avoiding tax by under-declaring its gold exports. Legal & General edged up after saying it has had a strong start to the year, while Petrofac gushed higher after it secured a $35m contract with Kuwait Oil Company. Fashion retailer Ted Baker rallied after it reported a 14.2% rise in revenue for the 19 weeks to 10 June as it presses ahead with its global expansion, with openings in Los Angeles, Paris, and Shanghai. Advertising giant WPP was boosted by an initiation at 'buy' from UBS, while London Stock Exchange appeared to be benefiting from the European Commission draft on clearing, which was not as bad as feared. Outsourcer Capita surged after it reported "good progress" on its restructuring and said the turnaround of IT Services was progressing better than expected, three months after its chief executive resigned and the outsourcing group was dumped out of the FTSE 100. Equipment hire company Ashtead nudged lower despite reporting a better-than-expected full-year profit, while Merlin Entertainments was on the back foot after it warned over the impact of the UK terror attacks. Housebuilder Crest Nicholson was just a tad weaker after reporting a rise in profit and revenue for the half year but cautioning that the UK election could bring about uncertainty. Health and safety technology group Halma retreated despite posting a jump in full-year revenue and profit, thanks in part to acquisitions, while Telecom Plus slumped as its full-year pre-tax profit came in below consensus expectations. 3 FREE issues of Moneywise online magazine Register for a free trial with us and get a Practice Account, exclusive tips, guides, award-winning service and three issues of Moneywise online magazine. Learn more Market Movers FTSE 100 (UKX) 7,519.82 0.11% FTSE 250 (MCX) 19,750.41 0.34% techMARK (TASX) 3,571.85 -0.03% FTSE 100 - Risers London Stock Exchange Group (LSE) 3,507.00p 3.18% WPP (WPP) 1,693.00p 1.44% Royal Bank of Scotland Group (RBS) 253.30p 1.28% TUI AG Reg Shs (DI) (TUI) 1,152.00p 0.88% Next (NXT) 4,282.00p 0.82% Johnson Matthey (JMAT) 3,070.00p 0.82% Taylor Wimpey (TW.) 179.40p 0.79% International Consolidated Airlines Group SA (CDI) (IAG) 593.00p 0.76% National Grid (NG.) 1,018.00p 0.74% Provident Financial (PFG) 2,949.00p 0.72% FTSE 100 - Fallers Merlin Entertainments (MERL) 485.90p -3.40% 3i Group (III) 911.50p -1.83% Rolls-Royce Holdings (RR.) 884.50p -0.84% BAE Systems (BA.) 662.00p -0.75% Antofagasta (ANTO) 805.00p -0.74% Unilever (ULVR) 4,279.00p -0.50% Centrica (CNA) 199.60p -0.50% Rio Tinto (RIO) 3,230.50p -0.48% Hikma Pharmaceuticals (HIK) 1,635.00p -0.37% Ashtead Group (AHT) 1,636.00p -0.30% FTSE 250 - Risers Capita (CPI) 604.00p 9.72% Kennedy Wilson Europe Real Estate (KWE) 1,109.00p 7.67% Petrofac Ltd. (PFC) 392.50p 2.80% Ted Baker (TED) 2,490.00p 2.68% Nostrum Oil & Gas (NOG) 530.00p 2.42% Fisher (James) & Sons (FSJ) 1,695.00p 2.23% Drax Group (DRX) 362.70p 2.05% esure Group (ESUR) 285.00p 1.79% Dignity (DTY) 2,446.00p 1.66% OneSavings Bank (OSB) 395.60p 1.62% FTSE 250 - Fallers Telecom Plus (TEP) 1,242.00p -4.61% Millennium & Copthorne Hotels (MLC) 435.20p -2.49% Mitchells & Butlers (MAB) 227.80p -0.87% Kaz Minerals (KAZ) 526.00p -0.85% Euromoney Institutional Investor (ERM) 1,119.00p -0.80% Petra Diamonds Ltd.(DI) (PDL) 123.40p -0.56% Vedanta Resources (VED) 597.50p -0.50% P2P Global Investments (P2P) 894.50p -0.45% QinetiQ Group (QQ.) 293.70p -0.44% Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks end near worst levels as tech weakness continues Stocks finished near their worst levels of the session as European tech issues were dragged lower by losses among their US peers, despite positive developments on the political front in France and Italy at the weekend. At the closing bell, the benchmark Stoxx 600 was down by 0.97% or 3.77 points to 386.62, alongside a fall of 0.98% in Germany's Dax to 12,690.44 while the Cac-40 was slipping 1.12% to 5,240.59. Losses were heaviest in the technology space, with the Stoxx 600 sector gauge plummeting 3.59% to 421.96; on 9 June America's tech-heavy Nasdaq-100 experienced its biggest one-day loss since September, with futures on Monday morning pointing to roughly another 1% drop on Monday. On a related note, come Monday strategists at JP Morgan recommended clients remain 'defensive', arguing that global activity momentum had stalled and that almost all reflation signals were reversing. That caution more than offset optimism regarding the outlook for the euro area's economy following a strong showing for the new French president's party and his allies in elections over the weekend and a potential setback for the populist 5SM movement in Italy. In Sunday's first round of voting in France's legislative elections, newly arrived centrist president Emmanuele Macron's En Marche! party made off with 32.3% of the vote in the first round of the parliamentary elections together with its MoDem. That put Macron's group on track to garner between 415 and 455 seats out of the 577 in the lower house of parliament, with analysts sanguine that Macron now enjoyed the political capital necessary to implement his reform agenda. Also at the weekend, none of the candidates put forth by the 5SM movement in Italy's first round of local elections made it into the runoff votes in any of the main contested cities. That, analysts at Barclays Research said, appeared to show that 5SM's popularity may have peaked. The news sent the yield on the benchmark 10-year Italian government note down by seven basis points to 2.02%. Italian industrial production fell by 0.4% month-on-month in April and was ahead by just 1.0% year-on-year, missing forecasts for an increase of 0.2% on the month and 2.5% over the year. Confidence among French manufacturing sector firms was steady in May, according to the Banque de France's monthly sentiment gauge which was steady at 105.0, as expected. In remarks at the weekend, Unicredit's chief said he expected a solution to be found for the country's two ailing Veneto lender with the aid of other domestic banks. Shares in Spanish small-cap lender Liberbank shot higher, recouping a large of the previous week's losses, after the country's market regulator instituted a ban on short-selling in the lender's shares. Market Analysis 12/06/2017 Today’s highlights: Cryptocurrencies show massive correction Bitcoin back over $2,600: After nearing $3,000, then crashing below $2,400 yesterday, Bitcoin recovered and was trading above $2,600 this morning. Ethereum passes $400 before showing correction: The cryptocurrency reached another all-time high yesterday at almost $430, before crashing to $330. Ethereum later recovered trading above $385 today. Markets await US rate decision: The FOMC is holding a two-day meeting in which its members will decide on interest rates. Many analysts believe that a rate hike will be coming tomorrow. USD could be volatile today: The monthly Producer Price Index report will be released at 12:30 GMT. Read More... 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… US Market Report US open: Wall Street dips as selling in tech carries over Wall Street's main market gauges were slightly lower at the start of the week on follow-through selling in the tech space. At 1618 BST, the Dow Jones Industrial Average was drifting lower by 0.18% or 37.85 points to 21,235.12, while the S&P 500 was down by 0.20% or 4.86 points at 2,426.87 and the Nasdaq Composite was retreating by 0.53% or 33.10 points to 6,176.82. On Friday, the Nasdaq slumped 1.8%, dragged lower by a note from Goldman Sachs which highlighted a "valuation air pocket" in the tech sector and on Monday it was off by a further 0.72% to 5,700.82. "Driven by the rise of megatech, momentum, as a factor, has built a valuation air pocket underneath it creating cause for pause." It added: "Our view is that FAAMG - Facebook, Amazon.com, Apple, Microsoft and Alphabet - a group of five stocks, not four - have been the key drivers of both the (S&P 500 and Nasdaq 100) returns year-to date." On a related note, at the beginning of the week strategists at JP Morgan said that while superficially US cyclicals were "holding up better on the surface", that was mostly due to technology stocks. "We note that Healthcare, Utilities and Staples are all outperformers in the US ytd, along with Tech, so the internal rotation is evident even there. US Banks are losing 500bp vs the market. Therefore, the question is should one use the weakness in Cyclicals to add back?" JP Morgan said. The problem however was that stocks were doing exactly what they should be expected to do given how bond yields remained stuck in a range and the yield curve had flattened significantly. There were no major data releases scheduled for Monday, with investors looking out instead to Wednesday's rate announcement from the Federal Reserve amid expectations of this year's second rate hike. IG analyst Joshua Mahony said; "Given the USD weakness we have seen in the face of such rate hike expectations, it makes you wonder what would happen in the event that the Fed chose not to act this time around." Rate-setters in Washington DC were widely expected to hike the Fed funds rate by 25 basis points to between 1.0% and 1.25%. Over in currency markets, the dollar was up 0.5% versus the pound, which took another leg lower after Moody's warned over the impact of a hung parliament, as Prime Minister Theresa May prepared to meet with Conservative party backbenchers angered by the election result. In corporate news, technology giant Apple was down 2.4% after Mizuho Securities cut its stance on the stock to 'neutral' from 'buy'. CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. Click Here Broker Tips Broker tips: HSBC, TalkTalk, BP Investec downgraded its recommendation on HSBC stock to 'sell', telling clients that prospects for a "substantial" share buy-back were already in the price and its valuation was now stretched. That did not mean that the lender had not made genuine progress. Indeed, the broker's Ian Gordon believed 2017 would mark a "trough" year. "It would be churlish not to acknowledge a number of areas of genuine improvement. We believe that after a decade of decline, HSBC is finally showing genuine ambition to expand its balance sheet, (+1% in Q1 2017), albeit it still appears over-dependent on Hong Kong, which contributed 52% of group PBT in Q1 2017," Gordon said. However, the scale and pace of recovery might yet underwhelm the market, he said. Neither did Gordon believe that HSBC's target for return on equity of 10% could be realistically achieved before 2020. Berenberg downgraded its stance on TalkTalk to 'sell' from 'hold' and slashed the price target to 140p from 224p saying the company has a mountain to climb to get back to sustainable profit growth. The bank said TalkTalk ranked ninth out of nine in its consumer broadband survey, scoring poorly for churn risk, network quality and customer service, value-for-money and customer endorsements. In its mobile survey, the group ranked seventh out of 10, but still scored poorly on network quality, customer service, customer endorsements and Ofcom complaints. "The results suggest that TalkTalk faces significant challenges to bring down churn on a sustainable basis," Berenberg said. The bank said its survey results suggest TalkTalk will face cost risk as it tries to bring down churn on a sustainable basis. It also showed the company is not a "go-to" destination for other operators churning customers, a status that will be difficult and costly to change. Analysts at JP Morgan reiterated their 'overweight' stance on shares of BP despite their "cautious" outlook for the price of oil. They also stuck to their 530.0p target. Christyan F Malek, Matthew Lofting and Dhanush Arun referenced their "strengthened" conviction that BP's financials would reach an inflection point in the second half of 2017. Above all, they touted the company's "best-in-class" organic cash breakeven of $30.0 a barrel by 2020, which would position the stock as the most defensive against the investment bank's outlook for the oil price. More specifically, they expected the outfit's free cash flow to jump from $900.0m during the first quarter of 2017 to $1.8bn in the fourth quarter.   To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 08 June 2017 20:18:38 Monitor Quote Charts News CFD's Compare Brokers Free BB   Live Trading Webinars ADVFN now provides the latest financial trading webinars for FREE. Offering everything from introductory courses through to advanced analysis and market signals.  Click Here To Find Out More London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE 100 heads south as UK votes on 'blockbuster' Thursday The FTSE 100 was weaker at the close as the UK voted in the snap election called by PM Theresa May, and traders worked their way through a full platter of US and European news on so-called 'blockbuster' Thursday. The market was keenly attuned to the European Central Bank's (ECB) policy meeting early this afternoon, and also to testimony before a Sentate committee from former FBI boss James Comey. The ECB stood pat on rates, while the market appeared to have decided there was no smoking gun to be found in Comey's testimony about Russia's alleged involvement in the US presidential election. At the close of trade, the FTSE 100 was down 0.38% to 7.449.98, while the FTSE 250 was up 0.24% to 19,743.41. It was still far too early to divine the outcome of the UK election. Key indices in continental Europe were ahead, while Wall St was mostly tending higher. "The FTSE 100 is sliding today as dealers are concerned about the UK general election," said David Madden, market analyst at CMC Markets UK. Chris Beauchamp, chief market analyst at IG, was pleased at the distraction provided by ECB President Mario Draghi. "At least we have him to distract us from the ennui caused for market watchers by the UK's polling day, when the frenetic activity of the past six weeks fades away and we are left simply to wait," said Beauchamp. In addition to holding rates, the ECB added that it expected them to remain at present levels for an extended period of time, removing the reference to a possibility of lowering. However, the ECB reiterated that, if necessary, it stood ready to increase the size of its quantitative easing programme. "QE remains, and it is the knowledge that this is unchanged which is helping eurozone stocks to hold their ground," said Beauchamp. Madden continued: "The Dax and Cac are outperforming their London equivalent as the ECB chief, Mario Draghi, downgraded the inflation forecast for the region over the next three years. "A leak yesterday stated he would, but the lowering of the CPI forecast for next year from 1.6% to 1.3% was a particularly big cut." To all of this, Connor Campbell, financial analyst at Spreadex, added that nothing had materialised to deliver on the potential for "triple threat" Thursday. In corporate news, Vodafone, Johnson Matthey, WPP were all weaker as their stock went ex-dividend. Wolseley was hit by a note from UBS. Gold miners Randgold Resources and Fresnillo retreated with the price of the yellow metal, but their multi-commodity peers were generally higher after Glencore and Rio Tinto. Further weight was provided by consumer goods, pharmaceuticals and retails stocks, while to the plus side it was property, utilities and banks doing well. Broadcaster ITV was a standout gainer following comments by chief executive officer Adam Crozier at an FT conference in London. Crozier said ITV was arguably undervalued given short-term ad issues. He added a buyout was not inevitable and the company should continue its current strategy. 3 FREE issues of Moneywise online magazine Register for a free trial with us and get a Practice Account, exclusive tips, guides, award-winning service and three issues of Moneywise online magazine. Learn more Market Analysis 08/06/2017 Today’s highlights: General election in the UK UK citizens head to the polls: Recent surveys show Prime Minister Theresa May still has a significant lead in a vote that will determine the nature of the Brexit negotiations. Wall Street closes higher: A recovery was seen in US markets yesterday, as the Dow Jones, NASDAQ and S&P 500 all closed in the green. Market could be affected by the Unemployment Claims report, to be released at 12:30 GMT. ECB rate decision expected today: The European Central Bank will announce its rate decision at 11:45 GMT, followed by a press conference with President Mario Draghi at 12:30 GMT. Oil crashes on US inventories report: After the Crude Oil Inventories reports released yesterday showed an increase in stockpiles, the black gold crashed to around $45. This morning, prices recovered slightly. Read More... Market Movers FTSE 100 (UKX) 7,449.98 -0.38% FTSE 250 (MCX) 19,743.41 0.24% techMARK (TASX) 3,579.64 -0.84% FTSE 100 - Risers Ashtead Group (AHT) 1,640.00p 3.02% Glencore (GLEN) 288.90p 2.08% Rio Tinto (RIO) 3,224.00p 1.82% Next (NXT) 4,352.00p 1.54% Centrica (CNA) 198.80p 1.43% ITV (ITV) 186.20p 1.25% Anglo American (AAL) 1,062.50p 1.19% BHP Billiton (BLT) 1,183.00p 1.07% SSE (SSE) 1,492.00p 1.02% Barratt Developments (BDEV) 590.00p 0.94% FTSE 100 - Fallers Vodafone Group (VOD) 218.00p -4.80% WPP (WPP) 1,631.00p -2.68% Imperial Brands (IMB) 3,547.00p -2.19% Diageo (DGE) 2,285.00p -1.93% Randgold Resources Ltd. (RRS) 7,495.00p -1.90% Unilever (ULVR) 4,269.00p -1.69% Reckitt Benckiser Group (RB.) 7,852.00p -1.55% British American Tobacco (BATS) 5,507.00p -1.36% Barclays (BARC) 205.40p -1.32% Coca-Cola HBC AG (CDI) (CCH) 2,317.00p -1.28% FTSE 250 - Risers Berendsen (BRSN) 1,229.00p 11.02% Ferrexpo (FXPO) 184.20p 5.35% Kaz Minerals (KAZ) 499.70p 4.63% Petrofac Ltd. (PFC) 363.40p 4.13% Workspace Group (WKP) 909.50p 3.76% Euromoney Institutional Investor (ERM) 1,180.00p 3.52% Marshalls (MSLH) 409.00p 3.07% Hays (HAS) 168.50p 3.06% esure Group (ESUR) 277.70p 3.04% OneSavings Bank (OSB) 420.10p 2.84% FTSE 250 - Fallers Electra Private Equity (ELTA) 1,840.00p -33.45% Hochschild Mining (HOC) 301.60p -3.33% Auto Trader Group (AUTO) 418.50p -3.06% Booker Group (BOK) 191.10p -2.95% Assura (AGR) 62.00p -2.29% Cobham (COB) 130.60p -2.25% Vedanta Resources (VED) 582.00p -2.18% Redefine International (RDI) 38.62p -2.00% Polymetal International (POLY) 983.00p -1.99% 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… US Market Report US open: Audible sigh of relief after Comey's Senate testimony Stocks on Wall Street gained slightly throughout the open part of former FBI director James Comey's testimony to a senate panel, with no new special revelations having apparently come to light. At 1645 BST, the Dow Jones Industrials Average was ahead by 0.30% or 62.34 points at 21,235.36, as the S&P 500 gained 0.15% or 3.54 points to 2,436.38 and the Nasdaq Composite added 0.21% or 13.47 points to 6,310.80. Nevertheless at one point during his testimony Comey indicated it was not for him to say whether his conversation with the US president constituted an attempt to obstruct justice. He also indicated that he kept notes of the meetings because he was concerned Trump might lie. From a sector standpoint, the best performance was being put in by the following industrial groups: Iron&Steel (4.34%), Industrial metals (3.99%) and Banks (2.51%). Meanwhile, the yield on the benchmark 10-year US Treasury note was up by three basis points at 2.20%. Commenting on Comey's testimony, Chris Beauchamp, chief market analyst at IG, said: "And thank goodness also for James Comey; his testimony has not proved to be a 'hole below the waterline' moment for Mr Trump, but it has done little to dispel the image of a president firing on a whim, rather than allowing a professional civil servant to do his job. "US markets are not particularly fazed by the developments, perhaps because they are already aware of the peculiar nature of this presidency. And indeed, it looks like there is little overspill into the US economy, at least for now. Instead, they will concentrate on the possibility of a rate hike next week from the Fed." Initial weekly jobless claims dropped by 10,000 last week to 245,000 (consensus: 240,000). The previous week's figures was revised higher by 7,0000. In corporate news, stock in Yahoo was sharply higher after it emerged late on Wednesday that as many as 2,100 jobs could be lost due to the expected combination of Yahoo and AOL. Nordstrom rocketed after the department store operator said it was studying 'going private' as a result of a possible offer from a group of investors which included several members of the founding family. Dell Technologies was set to reveal its quarterly figures later on Thursday evening. Dow Jones - Risers Goldman Sachs Group Inc. (GS) $220.18 2.04% JP Morgan Chase & Co. (JPM) $85.61 2.03% Boeing Co. (BA) $190.68 1.37% Caterpillar Inc. (CAT) $104.78 1.23% International Business Machines Corp. (IBM) $152.51 1.01% Chevron Corp. (CVX) $104.63 0.83% Travelers Company Inc. (TRV) $124.26 0.62% E.I. du Pont de Nemours and Co. (DD) $81.78 0.52% Cisco Systems Inc. (CSCO) $31.77 0.51% United Technologies Corp. (UTX) $120.38 0.50% Dow Jones - Fallers Walt Disney Co. (DIS) $104.65 -1.19% Merck & Co. Inc. (MRK) $63.41 -1.01% Procter & Gamble Co. (PG) $88.03 -0.84% Coca-Cola Co. (KO) $45.21 -0.67% Verizon Communications Inc. (VZ) $46.23 -0.58% Microsoft Corp. (MSFT) $72.04 -0.48% Unitedhealth Group Inc. (UNH) $182.40 -0.44% Visa Inc. (V) $95.75 -0.35% Apple Inc. (AAPL) $154.98 -0.25% McDonald's Corp. (MCD) $151.58 -0.24% S&P 500 - Risers Endo International Plc (ENDP) $13.85 11.69% Nordstrom Inc. (JWN) $44.55 10.05% Yahoo! Inc. (YHOO) $54.82 8.45% United States Steel Corp. (X) $22.18 6.28% Nvidia Corp. (NVDA) $158.09 6.02% Under Armour Inc. Class A (UAA) $21.44 4.41% Regions Financial Corp. (RF) $14.15 4.16% Freeport-McMoRan Inc (FCX) $12.17 3.84% Citizens Financial Group, Inc. (CFG) $35.84 3.82% CF Industries Holdings Inc. (CF) $27.19 3.70% S&P 500 - Fallers Urban Outfitters Inc. (URBN) $16.77 -8.01% Molson Coors Brewing Co. Class B (TAP) $86.46 -3.70% Borg Warner Inc. (BWA) $42.50 -2.79% Brown Forman Corp. Class B (BF.B) $49.32 -2.72% Snap On Inc. (SNA) $156.62 -2.65% Occidental Petroleum Corp. (OXY) $58.71 -2.37% Advance Auto Parts (AAP) $127.72 -2.22% Comcast Corp. (CMCSA) $40.96 -2.22% NiSource Inc. (NI) $25.86 -2.17% Crown Castle International (CCI) $100.99 -2.15% Nasdaq 100 - Risers Yahoo! Inc. (YHOO) $54.82 8.45% Nvidia Corp. (NVDA) $158.09 6.02% Alexion Pharmaceuticals Inc. (ALXN) $103.13 2.99% Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $51.92 2.22% Tesla Inc (TSLA) $366.66 1.95% JD.com, Inc. (JD) $41.88 1.70% Tractor Supply Company (TSCO) $55.35 1.58% Wynn Resorts Ltd. (WYNN) $134.39 1.57% Fastenal Co. (FAST) $42.70 1.25% American Airlines Group (AAL) $51.48 1.22% Nasdaq 100 - Fallers Charter Communications Inc. (CHTR) $334.38 -3.33% Comcast Corp. (CMCSA) $40.96 -2.22% Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $52.81 -2.17% Dish Network Corp. (DISH) $63.56 -2.05% Symantec Corp. (SYMC) $29.72 -1.82% Baidu Inc. (BIDU) $184.76 -1.48% Starbucks Corp. (SBUX) $62.60 -1.41% O'Reilly Automotive Inc. (ORLY) $231.99 -1.23% Vodafone Group Plc ADS (VOD) $28.67 -1.22% CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. Click Here Broker Tips Broker tips: BP, RPC Group, Mothercare Deutsche Bank reiterated its 'buy' stance on shares of BP, telling clients the oil major's downstream operations were being significantly undervalued. Ahead of BP's Downstream Day on 14 June, analyst Lucas Hermann pointed out how consensus was still only estimating just over $6bn of free cash flow from the segment by 2012, versus the between $9bn to $10bn the company itself was guiding towards. The mix of businesses that made up BP's downstream ops were more "more robust, better positioned and appeared to hold substantially more potential" than they were credited for, Hermann said. "Our analysis suggests the potential for capital-light growth that is way ahead of the evident consensus," he said. BP's downstream units were also significantly undervalued versus those of its peers Royal Dutch Shell and Total. As the costs associated with Macondo fell, investors should gain greater conviction in BP's dividend, according to the analyst. Hermann stayed at a 'buy' recommendation on BP with a target of 515.0p. JP Morgan said investors risked overlooking the merits of RPC Group's 'equity story' amid the din of the negative share price reaction to the company's fiscal year 2017 results. RPC has an established trackrecord of extracting "meaningful and sustainable" cost synergies as it consolidates a fragmented packaging market, the investment bank explained. "This is a strategy that we believe will continue to generate shareholder value in the years ahead." Changing hands on a price-to-earnings multiple of 10, that opportunity was not being captured in the share price, the broker said. Analysts at Berenberg upgraded their recommendation on shares of Mothercare from 'sell' to 'hold' after its UK arm moved past breakeven and ahead of an expected boost to its foreign operations from a weaker pound. Since they downgraded the company to 'sell' in April 2016 the stock had fallen by roughly 20%, versus a gain of the same magnitude for the FTSE All Share. Estimates were now more "reasonable", the broker added. Furthermore, management had guided towards a further reduction of the company's footprint in the UK from about 150 stores at present to between 80 to 100 over the next five years. In parallel, now that its pre-Brexit currency hedges had rolled off it would begin to feel the benefit of weakness in Sterling.   To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 07 June 2017 17:19:31 Monitor Quote Charts News CFD's Compare Brokers Free BB   Live Trading Webinars ADVFN now provides the latest financial trading webinars for FREE. Offering everything from introductory courses through to advanced analysis and market signals.  Click Here To Find Out More London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE retreats ahead of 'blockbuster Thursday' as oil, utility stocks ebb Stocks in London retreated to a lower close as falling oil, utility and pharmaceutical companies decided the outcome ahead of 'blockbuster Thursday' and the UK general election. On the following day, the market would be glued to the much-discussed UK election and its uncertain outcome, as well as the European Central Bank's policy meeting and, separately, testimony from ex-FBI boss James Comey to a Senate panel. Against this fabric, the FTSE 100 closed down 0.62% to 7,478.62, and the FTSE 250 edged higher by 0.21% to 19,695.92. Other key indices in Europe closed mildly firmer, while Wall St made minor gains. "The FTSE 100 is offside as dealer's cash in their chips ahead of the UK general election tomorrow," said David Madden, market analyst at CMC Markets UK. "Volatility is anticipated to be low until traders have a better idea of what the election outcome will be," said Madden. "The Cac and the Dax received a boost after a leak informed the market that the ECB are planning on reducing the inflation forecast for the Eurozone," he added. Returning to the UK and tomorrow's ballot, James Trescothick, senior global strategist at easyMarkets, pondered several different outcomes. A victory by the Tories and PM Theresa May with a majority of less than 20 seats would see a strong sell-off in sterling, whereas a win with a 50-plus seat majority could see a far more positive reaction from sterling. "If Labour did indeed win you might see the sterling come under a lot of pressure falling as low as $1.20 against the US dollar, due to the fact that (Labour leader Jeremy) Corbyn is not seen as a strong opposition for the EU," said Trescothick. He said a hung parliament could produce total chaos in the market. "Sterling is likely to crash on this outcome," said Trescothick. "With this result securing any deal with the EU will prove to be very difficult as any set direction for negotiations will be lost amongst all the bickering that will very likely occur between all the parties in the commons." On the stocks front in London, oil majors BP and Shell suffered as the latest figures from the US Energy Information Administration revealed a bigger than expected build in stores last week, contrary to American Petroleum Institute figures last night that showed a draw. Other blue-chip sectors that were prominently lower included pharmaceuticals and utilities, with retail and supermarkets also featuring on the FTSE 100 fallers' board. House builders did relatively well on news this morning from Halifax that the UK housing market had fared better than expected in May, although the annual rate of price gains was cooling. Meanwhile, RBS gained after Investec changed its rating from 'Sell' to 'Hold', and it upped its price target from 240p to 260p. RBS reached a £200m settlement with shareholders in relation to the rights issue the bank held during the credit crisis. WPP shares were down after its trading update was received poorly. Anglo American was firmer after it announced the appointment of Stuart Chambers as its chairman. AstraZeneca was in the red as it entered an agreement with Grünenthal for the global rights to Zomig (zolmitriptan) outside Japan. 3 FREE issues of Moneywise online magazine Register for a free trial with us and get a Practice Account, exclusive tips, guides, award-winning service and three issues of Moneywise online magazine. Learn more Market Analysis 07/06/2017 Today’s highlights: Mixed trend seen in global markets Wall Street closes lower: Ahead of an eventful day tomorrow, which includes the UK election and former FBI Director James Comey testifying before congress, US markets closed lower, with the Dow Jones, S&P 500 and Nasdaq all closing in the red. Asian markets mixed: Leading indices in the east were showing a mixed trend this morning. The Nikkei and China50 were both showing gains, with the latter climbing nearly 1%. Gold hits seven-month high: The safe-haven hit its highest levels for 2017 so-far, reaching a price that has not been seen since last November. New records for cryptocurrencies: Bitcoin passed $2,900 for the first time ever yesterday, while Ethereum logged another all-time high at just under $270. Read More... Market Movers FTSE 100 (UKX) 7,478.62 -0.62% FTSE 250 (MCX) 19,695.92 0.21% techMARK (TASX) 3,610.06 -0.68% FTSE 100 - Risers Persimmon (PSN) 2,393.00p 2.05% Lloyds Banking Group (LLOY) 70.08p 1.65% Standard Life (SL.) 381.00p 1.57% Taylor Wimpey (TW.) 181.80p 1.56% Hargreaves Lansdown (HL.) 1,395.00p 1.38% Royal Bank of Scotland Group (RBS) 255.10p 1.35% 3i Group (III) 944.50p 1.29% Direct Line Insurance Group (DLG) 347.30p 1.25% Hammerson (HMSO) 587.00p 1.21% Legal & General Group (LGEN) 254.00p 1.20% FTSE 100 - Fallers Shire Plc (SHP) 4,376.50p -3.22% WPP (WPP) 1,676.00p -2.61% Babcock International Group (BAB) 906.00p -2.00% Johnson Matthey (JMAT) 2,979.00p -1.97% Tesco (TSCO) 178.40p -1.79% BP (BP.) 456.80p -1.74% Associated British Foods (ABF) 2,970.00p -1.66% Reckitt Benckiser Group (RB.) 7,976.00p -1.63% Sage Group (SGE) 696.50p -1.62% Convatec Group (CTEC) 325.30p -1.54% FTSE 250 - Risers St. Modwen Properties (SMP) 352.90p 6.23% Ferrexpo (FXPO) 175.10p 4.66% Derwent London (DLN) 2,685.00p 4.07% Workspace Group (WKP) 874.50p 4.05% Nostrum Oil & Gas (NOG) 526.00p 3.34% CYBG (CYBG) 270.50p 3.28% Hastings Group Holdings (HSTG) 322.60p 3.13% Domino's Pizza Group (DOM) 316.30p 2.96% NMC Health (NMC) 2,329.00p 2.96% Countryside Properties (CSP) 326.90p 2.61% FTSE 250 - Fallers Ocado Group (OCDO) 284.00p -7.91% RPC Group (RPC) 788.50p -7.24% Entertainment One Limited (ETO) 226.10p -3.95% Indivior (INDV) 323.20p -3.20% Tate & Lyle (TATE) 734.50p -2.59% Intermediate Capital Group (ICP) 847.00p -2.42% Go-Ahead Group (GOG) 1,749.00p -2.35% Capita (CPI) 540.50p -2.26% Allied Minds (ALM) 135.40p -1.88% 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… US Market Report US open: Wall Street bounces back ahead of Comey testimony Wall Street was staging a mild bounce back on Wednesday ahead of a raft of key risk events the next day, including former FBI boss James Comey's testimony before a Senate panel, the UK general election and a meeting of the European Central Bank's Governing Council. At 1515 BST the Dow Jones Industrial Average was higher by 0.20% or 42.41 points to 21,175.48, alongside gains of 0.29% for the Nasdaq Composite to 6,293.07 and rise of 0.17% in the S&P 500 to 2,433.51. Meanwhile, crude oil futures were slipping ahead of US supply data from the Energy Information Administration due out at 1530 BST. West Texas Intermediate was down by 1.03% to $47.70 a barrel ahead of those figures. Comey was due to testify on Thursday about Russia's involvement in the US presidential election. FXTM chief market strategist Hussein Sayed said: "Comey's testimony is crucial tomorrow. While it's known that many questions will remain unanswered, the biggest question remains to be whether the former FBI director will accuse the President of abusing his power to derail the FBI's investigation and whether there's any indication of potential links between Russia and the Trump election campaign. "Should the testimony reveal any unexpected surprises, the same will be reflected in the financial markets." Investigations into the Trump election campaign's alleged dealing with Russian officials had seen the White House's drive for tax reforms stall. That had led JP Morgan chief Jamie Dimon the day before to caution that much still hinged on such reforms. Indeed, expected delays in the implementation of stimulus measures by the Trump administration led the OECD to cut its forecasts for US GDP growth in 2017 and 2018 from 2.4% and 2.8%, respectively, to 2.1% and 2.4%. On the corporate front, US-listed shares of Banco Santander could be active after it bought struggling Banco Popular Espanol for €1. Jack Daniels parent Brown-Forman Corp. posted fiscal fourth quarter profits per share of 37 cents, which was down from $1.30 in the year-ago period (consensus: 40 cents). Dow Jones - Risers Nike Inc. (NKE) $53.06 1.11% Intel Corp. (INTC) $36.51 1.05% Apple Inc. (AAPL) $155.74 0.84% Goldman Sachs Group Inc. (GS) $216.29 0.82% International Business Machines Corp. (IBM) $153.62 0.82% American Express Co. (AXP) $79.31 0.58% JP Morgan Chase & Co. (JPM) $83.43 0.57% Walt Disney Co. (DIS) $106.00 0.47% Wal-Mart Stores Inc. (WMT) $79.23 0.38% Visa Inc. (V) $96.10 0.32% Dow Jones - Fallers Coca-Cola Co. (KO) $45.51 -1.02% General Electric Co. (GE) $27.77 -0.57% Travelers Company Inc. (TRV) $123.50 -0.43% Merck & Co. Inc. (MRK) $64.40 -0.41% Microsoft Corp. (MSFT) $72.33 -0.26% Procter & Gamble Co. (PG) $88.64 -0.19% Unitedhealth Group Inc. (UNH) $180.50 -0.18% Caterpillar Inc. (CAT) $104.48 -0.07% United Technologies Corp. (UTX) $120.08 -0.03% E.I. du Pont de Nemours and Co. (DD) $81.06 0.00% S&P 500 - Risers Signet Jewelers Ltd (SIG) $56.22 4.21% Tenet Healthcare Corp. (THC) $17.68 3.94% GGP Inc (GGP) $23.25 2.81% Westrock Company (WRK) $55.59 2.72% United States Steel Corp. (X) $20.84 2.71% Micron Technology Inc. (MU) $32.37 2.53% Kimco Realty Corp. (KIM) $18.35 2.51% Under Armour Inc. Class A (UAA) $20.72 2.47% Vulcan Materials Co. (VMC) $127.95 2.23% Synchrony Financial (SYF) $28.84 1.96% S&P 500 - Fallers Iron Mountain Inc (New) (IRM) $33.33 -4.77% United Continental Holdings Inc. (UAL) $79.87 -1.69% Southwest Airlines Co. (LUV) $59.14 -1.60% NRG Energy Inc. (NRG) $16.52 -1.55% Brown Forman Corp. Class B (BF.B) $51.53 -1.51% Juniper Networks Inc. (JNPR) $29.61 -1.50% Interpublic Group of Companies Inc. (IPG) $23.88 -1.49% Mattel Inc. (MAT) $22.50 -1.34% Dollar General Corp (DG) $74.34 -1.33% Anadarko Petroleum Corp. (APC) $49.49 -1.22% Nasdaq 100 - Risers Micron Technology Inc. (MU) $32.37 2.53% NetEase Inc. Ads (NTES) $307.77 1.61% Fastenal Co. (FAST) $42.77 1.59% Seagate Technology Plc (STX) $42.56 1.59% Tesla Inc (TSLA) $358.13 1.50% Western Digital Corp. (WDC) $91.20 1.40% Hologic Inc. (HOLX) $45.02 1.35% Nvidia Corp. (NVDA) $149.26 1.30% Microchip Technology Inc. (MCHP) $86.20 1.19% Baidu Inc. (BIDU) $187.90 1.16% Nasdaq 100 - Fallers Vodafone Group Plc ADS (VOD) $29.20 -3.09% Shire Plc Ads (SHPG) $170.69 -1.96% Liberty Global plc Series A (LBTYA) $29.65 -1.82% Liberty Global plc Series C (LBTYK) $28.69 -1.68% Mattel Inc. (MAT) $22.50 -1.34% Alexion Pharmaceuticals Inc. (ALXN) $100.51 -0.95% Dollar Tree Inc (DLTR) $76.18 -0.92% Vertex Pharmaceuticals Inc. (VRTX) $126.57 -0.90% Tractor Supply Company (TSCO) $54.53 -0.89% CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. Click Here Broker Tips Broker tips: Qinetiq, Rotork, Tate & Lyle Analysts at Berenberg lifted their target on shares of Qinetiq due to the continued "significant" optionality afforded to the company by its comfortable cash position. In fiscal year 2018, the defence electronics and components supplier's net cash would reach £197.0m and be unrivalled within its sector, they said, making it deserving of a premium. Despite the "somewhat uninspiring" near-term fundamentals, Berenberg said investors could be confident of Qinetiq's ability to continue investing both organically, through contract capex, and via internal research and development. The company also had the firepower necessary to acquire earnings before the 2019 margin "pinch point" when the full effect of contract renewal timing would be evident, Berenberg said. With Rotork shares the worst performing stock in the European capital goods sector over the last quarter due to oil price declines and cost inflation concerns, Goldman Sachs sees a buying opportunity as the risk-reward ratio shifts into more attractive territory. "Growth could surprise in upstream and midstream, led by momentum in the US, Middle East and China," said Goldman, with its 12-month price target of 280p offering around 20% upside, leading to the reiteration of its 'buy' recommendation. Furthermore, pricing has stabilised and while downstream capital expenditure remains challenging there are green shoots appearing in maintenance, repair and overhaul. Excluding oil and gas, US water investment is an "obvious catalyst", although there are "few positive signs" in the power market. Tate & Lyle is facing a likely softer sugar pricing climate in 2018 and combined with anticipated slow progress towards ramping up its speciality ingredients profits, Jefferies downgraded its recommendation on the shares to 'hold' from 'buy'. Jefferies, which trimmed its target to 800p from 870p, said there remains "plenty of upside if Tate if it can convince" around its Speciality Food Ingredients arm, from where management are aiming to generate of 70% of profits in three years' time.   To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     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