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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 edge higher as UK politics remain the focus London stocks edged higher in early trade, with the pound still firmly in focus as the latest poll suggested the Tory lead over Labour was continuing to shrink.
At 0830 BST, the FTSE 100 was up 0.4% to 7,551.61, while the pound was down 0.1% against the dollar at 1.2863, off the lows hit in the previous session as investors digested Wednesday night's election debate, from which Theresa May was absent. According to a YouGov poll for The Times published on Wednesday, the Tory lead over Labour has narrowed to just three points. The latest poll came hot on the heels of a projection by YouGov that suggested the Conservatives could lose as many as 20 seats, while Labour could gain 28, leading to a hung Parliament.
Spreadex analyst Connor Campbell said: "While it looks like the election is going to dominate once again, the UK does have a bit of data to deal with this Thursday: May's manufacturing PMI. Analysts are expecting the figure to fall from 57.3 to 56.5 month-on-month, a move that likely won't help out sterling." Markit's manufacturing PMI is at 0930 BST.
Investors were also mulling over the latest survey from Nationwide, which showed UK house prices fell for the third month in a row in May, the first time this has happened since 2009.
As month-on-month prices fell 0.2% this dragged annual house price growth down to 2.1% in May from 2.6% in April.
The average price of a home slipped to £208,711 in May from £207,699 a month ago.
"It is still early days, but this provides further evidence that the housing market is losing momentum," said Robert Gardner, Nationwide's chief economist.
"Moreover, this may be indicative of a wider slowdown in the household sector, though data continues to send mixed signals in this regard."
On the corporate front, Barclays advanced as it increased the size of the sale of its stake in Barclays Africa Group due to "strong investor demand". The bank agreed to sell 286m or 33.7% of BAGL's issued share capital, raising around £2.2bn, up from a previous plan to sell a stake of around 22%.
Business-to-business information company Ascential nudged higher as it sold its remaining 11 UK-based heritage brands to Metropolis International for £23.5m in cash, which will be used to reduce its net debt.
Auto Trader pushed higher as Barclays upgraded the stock to 'overweight' from 'equalweight', while 3i was boosted as it upped its target on the stock to 980p from 750p.
Going the other way, chemicals group Johnson Matthey was in the red after it posted a 12% jump in full-year revenue, with analysts pointing to disappointment that no special dividend was announced.
Passenger transport operator FirstGroup tanked after it reported a rise in revenue and profit for the year to the end of March, but highlighted continued economic uncertainty in the UK.
Polymetal was on the back foot as it increased its stake in the Dolinnoye gold property, acquiring another 25% interest for $1.6m, while Marks & Spencer and Shire retreated as their stock went ex-dividend. |
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| Market Movers
FTSE 100 (UKX) 7,551.61 0.42%
FTSE 250 (MCX) 20,035.06 0.31%
techMARK (TASX) 3,641.68 0.46%
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 885.50p 2.07%
3i Group (III) 913.50p 2.07%
Barclays (BARC) 214.10p 1.95%
Micro Focus International (MCRO) 2,435.00p 1.71%
Ashtead Group (AHT) 1,589.00p 1.47%
AstraZeneca (AZN) 5,303.00p 1.32%
Coca-Cola HBC AG (CDI) (CCH) 2,281.00p 1.24%
DCC (DCC) 7,465.00p 1.22%
CRH (CRH) 2,826.00p 1.22%
British Land Company (BLND) 641.50p 1.18%
FTSE 100 - Fallers
Taylor Wimpey (TW.) 195.80p -3.59%
Mediclinic International (MDC) 779.50p -3.59%
National Grid (NG.) 1,059.00p -2.80%
Marks & Spencer Group (MKS) 372.10p -2.72%
Johnson Matthey (JMAT) 3,038.00p -2.38%
Shire Plc (SHP) 4,404.50p -1.50%
Randgold Resources Ltd. (RRS) 7,305.00p -0.81%
BT Group (BT.A) 307.25p -0.74%
ITV (ITV) 194.40p -0.66%
Anglo American (AAL) 1,028.50p -0.29%
FTSE 250 - Risers
Auto Trader Group (AUTO) 443.80p 6.66%
Inmarsat (ISAT) 845.00p 5.63%
Tullow Oil (TLW) 187.20p 2.41%
Electrocomponents (ECM) 596.00p 1.62%
Allied Minds (ALM) 150.80p 1.62%
Sophos Group (SOPH) 458.90p 1.44%
Hays (HAS) 169.20p 1.38%
PayPoint (PAY) 958.00p 1.32%
Bellway (BWY) 2,862.00p 1.27%
Big Yellow Group (BYG) 798.50p 1.27%
FTSE 250 - Fallers
FirstGroup (FGP) 140.50p -6.21%
Petrofac Ltd. (PFC) 359.80p -5.32%
Aldermore Group (ALD) 235.10p -3.49%
Acacia Mining (ACA) 282.10p -1.84%
Dechra Pharmaceuticals (DPH) 1,912.00p -1.65%
Just Group (JUST) 135.00p -1.46%
Fisher (James) & Sons (FSJ) 1,698.96p -1.45%
Debenhams (DEB) 49.41p -1.38%
IP Group (IPO) 137.10p -1.37% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks start higher, investors brush off weakness in bank shares European stocks were higher in early trading despite the drag from a drop in lenders' shares, especially in Spain, as investors looked to US jobs data later in the day.
As of 0905 BST the benchmark Stoxx 600 was 0.30% higher to 391.15, alongside gains of 0.34% for Germany's Dax to 12,658.57 and a rise of 0.47% in the Cac-40 to 5,308.14.
"Over in the Eurozone there wasn't a lot going on, with the DAX and CAC effectively flat at the start of the session. Like the UK, the region sees a wave of manufacturing data, with the Spanish PMI already beating expectations at 55.4. The Eurozone-wide figure is forecast to come in at 57.0, in the process cementing the best reading in 6 years," said Conor Campbell, financial analyst at Spreadex.
Indeed, Markit´s May euro area purchasing managers' index increased from a print of 56.7 for April to 57.0 in May, just as expected.
In parallel, ISTAT announced that Italy's economy grew at a 1.2% pace year-on-year during the first quarter, beating forecasts for a rate of expansion of 0.8%.
Acting as a backdrop, overnight German central bank chief Jens Wiedmann sounded a hawkish note, telling an audience that the recent strengthening of the euro area's economy made it more likely that recent higher inflation was not just a "flash in the pan".
Nevertheless, in the backhalf of the week the market spotlight was shifting from the European Central Bank and the debate around when it would begin to shift its policy towards the US jobs market and the outlook for monetary policy in the States after June.
The ADP jobs report in the States was scheduled for release at 1315 BST, followed by the ISM manufacturing sector PMI at 1500 BST.
In corporate news, the Stoxx 600 bank's sector index was down by 0.30% as stock in Banco Popular shed another 8% amid media speculation that the troubled lender might not be able to find a buyer.
Meanwhile, Spain's Unicaja Banco announced its intention to float 40.4% of its capital. |
| | Market Analysis 01/06/2017 Today’s highlights: Another record for Ethereum - Seven-month winning streak for Nasdaq: Despite closing nearly flat yesterday, all three major indices on Wall Street finished May higher. For the Nasdaq, this caps a seven-month winning streak – the longest since 2013.
- New all-time high for Ethereum: The cryptocurrency rose above $230 for the first time yesterday, before showing a slight correction.
- Nikkei rises more than 1%: Despite many markets in Asia seen lower this morning, Japan’s Nikkei showed gains of more than 1%. The China50 index was also trading higher this morning.
- Oil rises ahead of Inventories Report: After showing losses in the last two sessions, oil prices recovered this morning, after an early report suggested that the Crude Oil Inventories Report, to be released today at 15:00 GMT, will show a decline in US stockpiles.
Read More... |
| | UK Event Calendar | | Thursday June 01
INTERIMS
Watkin Jones
INTERIM EX-DIVIDEND DATE
BlackRock World Mining Trust, Britvic, Cardiff Property, Cerillion , Countryside Properties, Debenhams, DFS Furniture, easyHotel, Grainger, Henderson European Focus Trust, Inland Homes, Jersey Electricity 'A' Shares, Majedie Investments, Northern Venture Trust, On The Beach Group , Patisserie Holdings , Renew Holdings, RM Secured Direct Lending, SSP Group , Titon Holdings, ZPG Plc
QUARTERLY PAYMENT DATE
JPMorgan Claverhouse Inv Trust
QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (16:00)
Initial Jobless Claims (US) (13:30)
ISM Manufacturing (US) (15:00)
FINALS
FirstGroup, Immupharma, Johnson Matthey
SPECIAL EX-DIVIDEND DATE
DFS Furniture, Northern Venture Trust, Taylor Wimpey
AGMS
Allied Minds , BGEO Group, Camellia, Filta Group Holdings, Georgia Healthcare Group, Hostelworld Group , Jimmy Choo , Osirium Technologies, Plus500 Ltd (DI), Randall & Quilter Investment Holdings (DI), Seplat Petroleum Development Company (DI), Tri-Star Resources
FINAL DIVIDEND PAYMENT DATE
BAE Systems, Croda International, Robinson, Smart Metering Systems
FINAL EX-DIVIDEND DATE
Aberdeen New Thai Inv Trust, Dillistone Group, Flowtech Fluidpower, Gamma Communications, Great Portland Estates, Headlam Group, Hilton Food Group, ICG Enterprise Trust, Keywords Studios, Marks & Spencer Group, Mckay Securities, Michelmersh Brick Holdings, Moss Bros Group, National Grid, Pacific Assets Trust, Shawbrook Group, Spire Healthcare Group, Staffline Group, STM Group
|
| | US Market Report | | US close: Banks pull markets lower after warnings of tougher times Financial stocks pulled US markets lower at the close on Wednesday with the banking sector taking the biggest hit.
The S&P 500 fell 1.11 points to 2,411.80, while the Dow Jones finished 20.82 points lower at 21,008.65 and the Nasdaq was off 4.67 points at 6,198.52.
Banks were also lower after JP Morgan Chase finance chief Marianne Lake reportedly told investors that trading had declined by roughly 15% in the second quarter. Goldman Sachs also fell, helping to drag the DJIA into negative territory.
On the economic front, the National Association of Realtors' index for pending home sales declined by 1.3% month-on-month in April.
That was considerably worse than economists' expectations for an increase of 1.0% and followed downwards revisions to data for the prior month.
"Prospective buyers are feeling the double whammy this spring of inventory that's down 9.0% from a year ago and price appreciation that's much faster than any rise they've likely seen in their income," said Lawrence Yun, chief economist at NAR.
Manufacturing activity in the Great Lakes area cooled in May, the results of a widely-followed survey revealed, albeit amid indications that firms were expecting conditions to pick-up.
The Chicago Business Barometer showed a rise to 59.4 in May after earlier releasing an incorrect reading of a fall to 55.2.
Crude-oil futures veered heavily lower as markets already underwhelmed by Opec's recent output-curb extension now quit the asset on fears of surging Libyan production. Exxon Mobil and Chevron were both lower on the news.
The precious black liquid has been snared in a chronic supply glut, which saw Opec introduce production pledges last year, which it last week extended out to March 2018.
Nymex-priced West Texas Intermediate crude was down 2% to $48.63 a barrel, while Intercontinental Exchange-traded Brent fell 2.95% to $50.31 a barrel.
"Another slide in crude oil prices, to three week lows, has once again shifted the focus back to the ability of Opec to meaningfully influence the mechanics surrounding reducing inventory levels," said Michael Hewson, chief market analyst at CMC Markets UK.
Dow Jones - Risers
Pfizer Inc. (PFE) $32.65 1.62%
E.I. du Pont de Nemours and Co. (DD) $78.91 1.60%
3M Co. (MMM) $204.30 1.00%
Verizon Communications Inc. (VZ) $46.64 0.95%
Travelers Company Inc. (TRV) $124.82 0.91%
Johnson & Johnson (JNJ) $128.25 0.90%
Procter & Gamble Co. (PG) $88.09 0.79%
McDonald's Corp. (MCD) $151.01 0.64%
International Business Machines Corp. (IBM) $152.57 0.59%
Wal-Mart Stores Inc. (WMT) $78.60 0.58%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $211.26 -3.28%
JP Morgan Chase & Co. (JPM) $82.19 -2.09%
Microsoft Corp. (MSFT) $69.84 -0.81%
Unitedhealth Group Inc. (UNH) $175.18 -0.80%
Exxon Mobil Corp. (XOM) $80.50 -0.74%
Apple Inc. (AAPL) $152.76 -0.59%
Chevron Corp. (CVX) $103.49 -0.56%
Cisco Systems Inc. (CSCO) $31.53 -0.47%
Walt Disney Co. (DIS) $107.92 -0.37%
Home Depot Inc. (HD) $153.51 -0.24%
S&P 500 - Risers
Perrigo Company plc (PRGO) $72.80 7.26%
Vertex Pharmaceuticals Inc. (VRTX) $123.60 2.67%
Regeneron Pharmaceuticals Inc. (REGN) $459.06 2.32%
Paypal Holdings Inc (PYPL) $52.21 2.25%
Illumina Inc. (ILMN) $177.29 2.14%
Endo International Plc (ENDP) $13.18 1.78%
Dow Chemical Co. (DOW) $61.96 1.76%
Rockwell Collins Inc. (COL) $109.05 1.70%
Wynn Resorts Ltd. (WYNN) $128.70 1.67%
Darden Restaurants Inc. (DRI) $88.93 1.65%
S&P 500 - Fallers
Tenet Healthcare Corp. (THC) $16.54 -5.16%
Southwestern Energy Co. (SWN) $6.06 -4.57%
CF Industries Holdings Inc. (CF) $26.90 -3.62%
Goldman Sachs Group Inc. (GS) $211.26 -3.28%
Teradata Corp. (TDC) $27.26 -3.16%
First Solar Inc. (FSLR) $38.51 -2.51%
O'Reilly Automotive Inc. (ORLY) $242.08 -2.24%
Bank of America Corp. (BAC) $22.41 -2.18%
JP Morgan Chase & Co. (JPM) $82.19 -2.09%
Under Armour Inc. Class A (UAA) $19.16 -2.04%
Nasdaq 100 - Risers
Vertex Pharmaceuticals Inc. (VRTX) $123.60 2.67%
Regeneron Pharmaceuticals Inc. (REGN) $459.06 2.32%
Paypal Holdings Inc (PYPL) $52.21 2.25%
Liberty Global Plc Lilac Class C (LILAK) $20.96 2.24%
Illumina Inc. (ILMN) $177.29 2.14%
Charter Communications Inc. (CHTR) $345.55 1.96%
Tesla Inc (TSLA) $341.01 1.76%
Wynn Resorts Ltd. (WYNN) $128.70 1.67%
Xilinx Inc. (XLNX) $66.71 1.51%
Dentsply International Inc. (XRAY) $63.52 1.44%
Nasdaq 100 - Fallers
O'Reilly Automotive Inc. (ORLY) $242.08 -2.24%
Baidu Inc. (BIDU) $186.10 -1.99%
JD.com, Inc. (JD) $40.03 -1.86%
Liberty Global plc Series A (LBTYA) $30.58 -1.35%
Western Digital Corp. (WDC) $90.06 -1.35%
NetEase Inc. Ads (NTES) $284.78 -1.28%
Autodesk Inc. (ADSK) $111.77 -1.23%
Alphabet Inc. Class C (GOOG) $964.86 -1.13%
Lam Research Corp. (LRCX) $155.17 -1.08% |
| | Newspaper Round Up | | Thursday newspaper round-up: BA, Deliveroo, UK growth, AkzoNobel The IT shutdown that led to chaos for British Airways was caused by an "uncontrolled return of power" following an outage that physically damaged servers at its data centre, the airline has said. About 75,000 passengers were affected as flights were cancelled following the incident on Saturday morning. The carrier was unable to resume a full schedule until Tuesday and many passengers are still without their luggage. - Guardian
The UK has slumped to the bottom of the league table of advanced economies after Canada registered stellar growth in the first three months of the year. Canada was the final member of the G7 to report its growth figures, which confirmed the UK as officially the joint worst performing member so far this year. The announcement marked a significant decline for the UK economy, which a year ago was outshining Germany, the US and Japan. In February it was announced that Germany had pipped the UK as the fastest-growing G7 nation during 2016 by 10 basis points. - Guardian
The Murdoch brothers have held secret talks with Ofcom in a bid to persuade the regulator to wave through 21st Century Fox's planned £11.7bn takeover of Sky. It is understood that Sharon White, chief executive of Ofcom, has met James and Lachlan Murdoch in London in the last week to discuss the proposed deal. Rupert Murdoch, their father, was not present. Both sides have sought to keep the meeting out of the public eye amid swirling political controversy. - Telegraph
Takeaway technology firm Deliveroo is offering its drivers the option to be paid for each order they deliver, rather than per hour - a move which the company hopes will reinforce the riders' status as self-employed contractors, rather than employees. Riders protested last year against a plan to impose a similar contract, and now the company is making it voluntary instead. - Telegraph
The Trump administration has given its strongest signal yet that it will restart free-trade talks with the European Union, with the US commerce secretary saying that such a move "makes sense". Wilbur Ross said it was "no mistake" that America had withdrawn from the Trans-Pacific Partnership deal but not the Transatlantic Trade and Investment Partnership talks with the EU. - The Times
The American paints and coatings group stalking Azko Nobel, the owner of Dulux paints, must make a formal takeover offer by the end of today or walk away. PPG Industries, which has been rebuffed by Azko Nobel three times, has failed to secure an extension to its June 1 deadline from the Dutch regulator. PPG had asked the regulator for an extension until June 14. - The Times |
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