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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 close: Stocks succumb to profit-taking London stocks ended lower with financials taking a hit from a dovish set of US central bank policy meeting minutes.
At the closing bell, the FTSE 100 was down by 45.16 points or 0.61% to 7,387.87. For its part, Sterling as little changed versus the US dollar, dipping 0.06% to 1.2883.
There was also a fair bit of 'analyst chatter' around US president Donald Trump's decision overnight to disband two business councils and what that might mean as regards his ability to bridge the political and social divide in order to pass much needed reforms.
Commenting on the situation in markets, Analyst Henry Croft at Accendo Markets said: "Investors continue to analyse the fallout from the disbanding of President Trump's business councils, seen as a key link between corporate America and the White House. At best, it could remove pressures on CEOs to defend the President's views in order to focus on running profitable businesses; at worst it could slow the administration's ability to enact key economic policies such as tax reform and sector deregulation."
He also noted that less hawkish minutes from the US Federal Reserve's rate setters compounded woes from the US, with disagreement between policymakers hurt banks across the world, also noting that oil was retreating as dollar bounced.
The split at the heart of the US Federal Open Markets Committee was revealed as minutes from the last central bank monetary policy meeting showed an unexpected divergence of opinion among the policymakers on whether they should carry on with the interest rate hikes or not.
Although "most participants expected inflation to pick up over the next couple of years....and to stabilize around the 2% objective over the medium term", the minutes said, many participants see "some likelihood that inflation might remain below 2% for longer than they currently expected, and several indicated that the risks to the inflation outlook could be tilted to the downside".
In the aftermath of the FOMC minutes, the probability of a December rate hike plunged below 40%, which weighed on lenders on both side of the Pond.
On a cheerier note, UK retail sales beat forecasts at the top line but strong food sales continue to mask wider weakness as consumers continue to feel the pinch.
Total retail sales including fuel rose 0.3% for a second month, the Office for National Statistics revealed, beating the average economist estimate of 0.2%.
Excluding petrol, retail sales increased 0.5% month-on-month in July, better than the consensus forecast for a 0.1% rise but down from the revised previous month's 0.6% rise.
Yet that did not offer much to cheer about, said analyst Connor Campbell at Spreadex, as July and June's readings were halved from the initial 0.6% growth stated last month.
COMPANY NEWS
Hikma Pharmaceuticals was hammered after reporting a 1% rise in first-half sales and trimming its guidance for the full year as the generic drugs arm faces tougher market conditions. For the full year management now see sales rising to "around $2bn", down from previous guidance of $2-2.1bn issued in May.
In comparison, shares in retailer Kingfisher received only a light hammering, after sales in the second quarter fell and the B&Q and Screwfix owner expressed caution on the outlook for the UK and France in the second half. In the three months to 31 July, group like-for-like sales shrank 1.9%, deteriorating from the 0.6% decline in the first quarter, though management said they "remain comfortable" with the market forecast of underlying earnings per share of 26p for the full year.
Banks, led by Standard Chartered, RBS and HSBC, were been buffeted lower by the dovish reading of the Fed minutes, which cast doubts on the likelihood of another rate hike in the US this year. Also, there were reports that British banks are facing massive Libor lawsuit from the US Federal Deposit Insurance Corporation.
Fallers were led by a list of stocks going ex-dividend, including British American Tobacco, Evraz, Legal & General Group, Man Group, Merlin Entertainments, Millennium & Copthorne Hotels, Pearson, Reckitt Benckiser Group, Schroders, and Segro.
Marshalls, the making of paving slabs and interior tiling, was headed higher as it reported revenue up 8% and EBITDA up 13% as it saw a continued improvement in operating margins.
Johnson Matthey was helped by a note from Bernstein that suggested forthcoming bans on the sale of diesel vehicles in several European countries should not be a reason to despair for producers of automotive catalysts, which has likely contributed to JMAT's stock falling 25% since October.
Kaz Minerals was on the front foot as revenues more than doubled thanks to higher volumes and commodity prices. Together with net cash costs of $0.64 per pound of copper, that drove a greater than four-fold jump in operating profits to $291m. |
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| Market Movers
FTSE 100 (UKX) 7,387.87 -0.61%
FTSE 250 (MCX) 19,773.08 -0.43%
techMARK (TASX) 3,409.03 -0.19%
FTSE 100 - Risers
Fresnillo (FRES) 1,566.00p 3.85%
Johnson Matthey (JMAT) 2,818.00p 2.32%
Randgold Resources Ltd. (RRS) 7,405.00p 1.79%
London Stock Exchange Group (LSE) 3,950.00p 0.89%
Mondi (MNDI) 2,061.00p 0.88%
Coca-Cola HBC AG (CDI) (CCH) 2,593.00p 0.70%
TUI AG Reg Shs (DI) (TUI) 1,334.00p 0.68%
Direct Line Insurance Group (DLG) 388.80p 0.65%
Informa (INF) 711.50p 0.57%
Taylor Wimpey (TW.) 193.30p 0.47%
FTSE 100 - Fallers
Kingfisher (KGF) 294.80p -4.10%
Standard Chartered (STAN) 755.00p -2.72%
Admiral Group (ADM) 2,000.00p -2.30%
Royal Bank of Scotland Group (RBS) 258.10p -2.20%
Ashtead Group (AHT) 1,580.00p -2.11%
Legal & General Group (LGEN) 267.70p -1.98%
British American Tobacco (BATS) 4,832.00p -1.97%
easyJet (EZJ) 1,301.00p -1.89%
Marks & Spencer Group (MKS) 319.10p -1.75%
Barclays (BARC) 197.25p -1.74%
FTSE 250 - Risers
Nostrum Oil & Gas (NOG) 418.30p 5.33%
FDM Group (Holdings) (FDM) 945.50p 5.00%
Marshalls (MSLH) 416.30p 4.97%
Hochschild Mining (HOC) 272.00p 4.86%
Sirius Minerals (SXX) 28.65p 4.56%
Softcat (SCT) 413.80p 2.99%
Polymetal International (POLY) 934.50p 2.35%
Petra Diamonds Ltd.(DI) (PDL) 91.90p 1.77%
St. Modwen Properties (SMP) 347.00p 1.76%
QinetiQ Group (QQ.) 240.20p 1.69%
FTSE 250 - Fallers
Hikma Pharmaceuticals (HIK) 1,190.00p -10.46%
Rank Group (RNK) 225.00p -6.09%
Evraz (EVR) 257.80p -4.06%
Tullow Oil (TLW) 155.80p -3.89%
Aldermore Group (ALD) 226.50p -3.33%
BGEO Group (BGEO) 3,398.00p -3.03%
Hunting (HTG) 421.90p -3.01%
Virgin Money Holdings (UK) (VM.) 278.10p -2.83%
CLS Holdings (CLI) 213.80p -2.77% |
| | Market Analysis 16/08/2017 Today's highlights: Mixed trend seen in global markets - Wall Street closes nearly flat: Both the S&P 500 and Dow Jones closed rather close to their opening prices, each moving less than 0.05%. The Nasdaq closed slightly lower, losing 0.11%
- More trouble for Trump: After a press conference described as 'erratic' regarding the events in Charlottesville, two more CEOs resigned from the US President's Manufacturing Council.
Read More... |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | London close: Stocks succumb to profit-taking London stocks ended lower with financials taking a hit from a dovish set of US central bank policy meeting minutes.
At the closing bell, the FTSE 100 was down by 45.16 points or 0.61% to 7,387.87. For its part, Sterling as little changed versus the US dollar, dipping 0.06% to 1.2883.
There was also a fair bit of 'analyst chatter' around US president Donald Trump's decision overnight to disband two business councils and what that might mean as regards his ability to bridge the political and social divide in order to pass much needed reforms.
Commenting on the situation in markets, Analyst Henry Croft at Accendo Markets said: "Investors continue to analyse the fallout from the disbanding of President Trump's business councils, seen as a key link between corporate America and the White House. At best, it could remove pressures on CEOs to defend the President's views in order to focus on running profitable businesses; at worst it could slow the administration's ability to enact key economic policies such as tax reform and sector deregulation."
He also noted that less hawkish minutes from the US Federal Reserve's rate setters compounded woes from the US, with disagreement between policymakers hurt banks across the world, also noting that oil was retreating as dollar bounced.
The split at the heart of the US Federal Open Markets Committee was revealed as minutes from the last central bank monetary policy meeting showed an unexpected divergence of opinion among the policymakers on whether they should carry on with the interest rate hikes or not.
Although "most participants expected inflation to pick up over the next couple of years....and to stabilize around the 2% objective over the medium term", the minutes said, many participants see "some likelihood that inflation might remain below 2% for longer than they currently expected, and several indicated that the risks to the inflation outlook could be tilted to the downside".
In the aftermath of the FOMC minutes, the probability of a December rate hike plunged below 40%, which weighed on lenders on both side of the Pond.
On a cheerier note, UK retail sales beat forecasts at the top line but strong food sales continue to mask wider weakness as consumers continue to feel the pinch.
Total retail sales including fuel rose 0.3% for a second month, the Office for National Statistics revealed, beating the average economist estimate of 0.2%.
Excluding petrol, retail sales increased 0.5% month-on-month in July, better than the consensus forecast for a 0.1% rise but down from the revised previous month's 0.6% rise.
Yet that did not offer much to cheer about, said analyst Connor Campbell at Spreadex, as July and June's readings were halved from the initial 0.6% growth stated last month.
COMPANY NEWS
Hikma Pharmaceuticals was hammered after reporting a 1% rise in first-half sales and trimming its guidance for the full year as the generic drugs arm faces tougher market conditions. For the full year management now see sales rising to "around $2bn", down from previous guidance of $2-2.1bn issued in May.
In comparison, shares in retailer Kingfisher received only a light hammering, after sales in the second quarter fell and the B&Q and Screwfix owner expressed caution on the outlook for the UK and France in the second half. In the three months to 31 July, group like-for-like sales shrank 1.9%, deteriorating from the 0.6% decline in the first quarter, though management said they "remain comfortable" with the market forecast of underlying earnings per share of 26p for the full year.
Banks, led by Standard Chartered, RBS and HSBC, were been buffeted lower by the dovish reading of the Fed minutes, which cast doubts on the likelihood of another rate hike in the US this year. Also, there were reports that British banks are facing massive Libor lawsuit from the US Federal Deposit Insurance Corporation.
Fallers were led by a list of stocks going ex-dividend, including British American Tobacco, Evraz, Legal & General Group, Man Group, Merlin Entertainments, Millennium & Copthorne Hotels, Pearson, Reckitt Benckiser Group, Schroders, and Segro.
Marshalls, the making of paving slabs and interior tiling, was headed higher as it reported revenue up 8% and EBITDA up 13% as it saw a continued improvement in operating margins.
Johnson Matthey was helped by a note from Bernstein that suggested forthcoming bans on the sale of diesel vehicles in several European countries should not be a reason to despair for producers of automotive catalysts, which has likely contributed to JMAT's stock falling 25% since October.
Kaz Minerals was on the front foot as revenues more than doubled thanks to higher volumes and commodity prices. Together with net cash costs of $0.64 per pound of copper, that drove a greater than four-fold jump in operating profits to $291m.
Market Movers
FTSE 100 (UKX) 7,387.87 -0.61%
FTSE 250 (MCX) 19,773.08 -0.43%
techMARK (TASX) 3,409.03 -0.19%
FTSE 100 - Risers
Fresnillo (FRES) 1,566.00p 3.85%
Johnson Matthey (JMAT) 2,818.00p 2.32%
Randgold Resources Ltd. (RRS) 7,405.00p 1.79%
London Stock Exchange Group (LSE) 3,950.00p 0.89%
Mondi (MNDI) 2,061.00p 0.88%
Coca-Cola HBC AG (CDI) (CCH) 2,593.00p 0.70%
TUI AG Reg Shs (DI) (TUI) 1,334.00p 0.68%
Direct Line Insurance Group (DLG) 388.80p 0.65%
Informa (INF) 711.50p 0.57%
Taylor Wimpey (TW.) 193.30p 0.47%
FTSE 100 - Fallers
Kingfisher (KGF) 294.80p -4.10%
Standard Chartered (STAN) 755.00p -2.72%
Admiral Group (ADM) 2,000.00p -2.30%
Royal Bank of Scotland Group (RBS) 258.10p -2.20%
Ashtead Group (AHT) 1,580.00p -2.11%
Legal & General Group (LGEN) 267.70p -1.98%
British American Tobacco (BATS) 4,832.00p -1.97%
easyJet (EZJ) 1,301.00p -1.89%
Marks & Spencer Group (MKS) 319.10p -1.75%
Barclays (BARC) 197.25p -1.74%
FTSE 250 - Risers
Nostrum Oil & Gas (NOG) 418.30p 5.33%
FDM Group (Holdings) (FDM) 945.50p 5.00%
Marshalls (MSLH) 416.30p 4.97%
Hochschild Mining (HOC) 272.00p 4.86%
Sirius Minerals (SXX) 28.65p 4.56%
Softcat (SCT) 413.80p 2.99%
Polymetal International (POLY) 934.50p 2.35%
Petra Diamonds Ltd.(DI) (PDL) 91.90p 1.77%
St. Modwen Properties (SMP) 347.00p 1.76%
QinetiQ Group (QQ.) 240.20p 1.69%
FTSE 250 - Fallers
Hikma Pharmaceuticals (HIK) 1,190.00p -10.46%
Rank Group (RNK) 225.00p -6.09%
Evraz (EVR) 257.80p -4.06%
Tullow Oil (TLW) 155.80p -3.89%
Aldermore Group (ALD) 226.50p -3.33%
BGEO Group (BGEO) 3,398.00p -3.03%
Hunting (HTG) 421.90p -3.01%
Virgin Money Holdings (UK) (VM.) 278.10p -2.83%
CLS Holdings (CLI) 213.80p -2.77% |
| | Barclays Vs Lloyds - Which is a better Buy? | | Barclays and Lloyds are two of the UK’s most popular stocks.
But which is the better buy?
In this Complimentary Guide we explain in plain English what’s really going on at these key British Banks.
Find out:
Are Lloyds shares set to rocket?
Why Barclays has a ‘secret weapon’ that could unlock serious value
How do they compare in value and safety?
What you’re about to find out may surprise you…
Click here for your Complimentary Guide |
| | US Market Report | | US open: Stocks soften after dovish Fed minutes, political squabbling Wall Street appeared to be on track to break a four-day winning streak following the release of a more dovish-than-expected set of minutes of the US Federal Reserve's July policy meeting.
Several analysts were also drawing attention to the US president's decision overnight to dissolve two of his business councils, which stoked concern over his ability to bridge the political and social divide in order to pass key reforms that were still pending.
As of 1629 BST, the Dow Jones Industrials was trading 108.53 points or 0.49% lower to 21,916.66, alongside a 14.82 point or 0.69% drop for the S&P 500 to 2,453.11 while the Nasdaq Composite was retreating by 48.26 points or 0.76% to 6,297.03.
From a sector standpoint, the biggest losses were being seen in the following industrial groups: Aluminum (-2.37%), Telecommunications (-2.36%) and Iron &Steel (-1.98%).
Commenting on the situation in markets, Joshua Mahony at IG said: "Unsurprisingly we have seen financials fall back across the board, as the prospect of higher rates in 2017 continues to diminish. Fears over the weakening inflation picture has put the December rate hike on a knife edge, with the balance sheet normalisation seeming the more likely of the two.
"[Trump came] into power on a pro-business ticket where he promised to bring everyone together, we have seen zero pro-business policies implemented, and social divides widen. With fellow Republicans and now business leaders turning their back on the President, it feels as if the chances of true growth friendly reforms are looking less and less likely."
For David Madden at CMC Markets UK, it was more a matter of simple profit-taking.
Against that backdrop, one of the most widely-followed gauges for the US jobs market revealed it continued to be in robust health. Initial jobless claims plummeted by 12,000 over the week ending 12 August to reach 232,000, according to the Department of Labor.
Economists had forecast a reading of 240,000.
In parallel, the Philly Fed announced that its regional manufacturing index slipped from a reading of 19.5 for July to 18.9 for August (consensus: 19.0).
Industrial production grew by 0.2% month-on-month in July (consensus: 0.3%), alongside upwards revisions to readings for the months of March and April.
Meanwhile, the Conference Board's index of leading economic indicators clocked in with an advance of 0.3% on the month for July, as anticipated.
Later in the day, at 1800 BST, traders would be listening in on a speech from Dallas Fed president Robert Kaplan.
On the corporate front, retailing giant Wal Mart posted better-than-expected earnings per share of $1.08 on a 2.1% rise in revenues to $123.6bn.
Fashion retailer Urban Outfitters rocketed despite the company's top line having shrunk from $890.6m to $872.9m (consensus: $862.0m).
Dow Jones - Risers
McDonald's Corp. (MCD) $159.32 0.26%
Walt Disney Co. (DIS) $102.40 0.20%
International Business Machines Corp. (IBM) $142.64 0.10%
Visa Inc. (V) $103.36 0.04%
Unitedhealth Group Inc. (UNH) $193.74 -0.02%
Procter & Gamble Co. (PG) $92.42 -0.02%
Coca-Cola Co. (KO) $46.19 -0.02%
Caterpillar Inc. (CAT) $114.05 -0.06%
American Express Co. (AXP) $87.25 -0.16%
Boeing Co. (BA) $237.12 -0.20%
Dow Jones - Fallers
Cisco Systems Inc. (CSCO) $31.14 -3.71%
Wal-Mart Stores Inc. (WMT) $79.38 -1.98%
Goldman Sachs Group Inc. (GS) $222.64 -1.32%
Apple Inc. (AAPL) $159.34 -1.00%
Exxon Mobil Corp. (XOM) $76.85 -0.81%
Johnson & Johnson (JNJ) $133.16 -0.75%
Home Depot Inc. (HD) $151.17 -0.71%
3M Co. (MMM) $206.45 -0.71%
Intel Corp. (INTC) $35.56 -0.70%
United Technologies Corp. (UTX) $117.18 -0.69%
S&P 500 - Risers
Altaba Inc. (AABA) $62.97 3.83%
Mallinckrodt Plc Ordinary Shares (MNK) $36.95 2.81%
Hershey Foods Corp. (HSY) $108.66 2.47%
Endo International Plc (ENDP) $8.90 2.30%
Advance Auto Parts (AAP) $93.40 2.07%
Mylan Inc. (MYL) $31.10 2.07%
United Rentals Inc. (URI) $114.19 1.98%
Coach Inc. (COH) $41.50 1.91%
Signet Jewelers Ltd (SIG) $54.80 1.69%
Tractor Supply Company (TSCO) $54.55 1.53%
S&P 500 - Fallers
L Brands Inc (LB) $35.12 -11.20%
NetApp Inc. (NTAP) $40.05 -5.56%
CenturyLink Inc. (CTL) $19.88 -4.83%
Cisco Systems Inc. (CSCO) $31.14 -3.71%
Automatic Data Processing Inc. (ADP) $107.19 -3.52%
Eli Lilly and Company (LLY) $78.52 -2.69%
Level 3 Communications, Inc. (LVLT) $53.70 -2.68%
Nucor Corp. (NUE) $55.38 -2.38%
Frontier Communications Co. (FTR) $14.02 -2.30%
Biogen Inc (BIIB) $287.65 -2.19%
Nasdaq 100 - Risers
Mylan Inc. (MYL) $31.10 2.07%
Tractor Supply Company (TSCO) $54.55 1.53%
Shire Plc Ads (SHPG) $149.28 0.57%
Walgreens Boots Alliance, Inc. (WBA) $81.65 0.48%
Cerner Corp. (CERN) $64.26 0.47%
Dentsply International Inc. (XRAY) $53.63 0.28%
Hologic Inc. (HOLX) $38.29 0.20%
Liberty Global Plc Lilac Class C (LILAK) $26.08 0.19%
Liberty Global Plc Lilac Class A (LILA) $26.27 0.19%
Incyte Corp. (INCY) $124.45 0.09%
Nasdaq 100 - Fallers
JD.com, Inc. (JD) $41.28 -5.42%
Cisco Systems Inc. (CSCO) $31.14 -3.71%
Automatic Data Processing Inc. (ADP) $107.19 -3.52%
Biogen Inc (BIIB) $287.65 -2.19%
Fiserv Inc. (FISV) $122.44 -1.91%
Maxim Integrated Products Inc. (MXIM) $44.82 -1.90%
Biomarin Pharmaceutical Inc. (BMRN) $81.55 -1.83%
Analog Devices Inc. (ADI) $78.67 -1.74%
American Airlines Group (AAL) $47.60 -1.67% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Hurricane Energy: is this a buying opportunity? | | Every now and then a small stock with a big story captures the investing public’s imagination.
And without a doubt, Hurricane Energy has a big story to tell.
In this Complimentary Guide we throw a spotlight on Hurricane Energy Plc.
Find out:
How Hurricane’s ‘exploration niche’ has transformed North Sea oil
What’s the single biggest risk the stock faces?
What two major events are due in the coming months?
Are the shares worth buying here?
Get the full facts now…
Click here for your Complimentary Guide
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