| | | | | | | GlaxoSmithKline vs. AstraZeneca This report looks at the two largest UK pharmaceutical companies, both of which are at 2017 lows, and asks which is the better buy, if either has further to fall, which stock is right for you, and what are the city analysts saying? Losses can exceed deposits. Download your 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 close: Stocks off intra-session lows, but analysts wary London stocks pared early losses on Tuesday but nevertheless ended lower as North Korea's missile launch over Japan sparked jitters across financial markets, prompting a flight to safety.
The FTSE 100 was down 0.87% to 7,337.43, while the pound was flat versus the dollar at 1.2934. The dollar was down 0.2% against the yen at 109.04, while the dollar index fell to 91.788 at one point during the session, marking its lowest level since January 2015. Meanwhile, the euro broke above the psychological 1.20 level against the greenback, although by the end of trading it was well off an intraday high of 1.2071.
Gold prices hit an 11-month high as investors looked for somewhere safe to park their cash, while the VIX Volatility index rose around 25% to 14.16.
In oil markets, West Texas Intermediate was down 1.35% at $45.97 a barrel and Brent crude was off 0.12% at $51.83 as Tropical Storm Harvey left a large swathe of US refining capacity shut down, hitting demand for oil.
IG analyst Joshua Mahony said: "There seems to be a widespread consensus between financial markets today, with the losses evident across equity markets indicative of a wider shift out of risk in response to the latest North Korean missile.
"The decision to send a rocket over Japan raises tensions once more, with the unpredictable Pyongyang leadership meaning that tensions can flare up at any moment. Put simply, this standoff has the potential to start a nuclear war if not handled correctly, and given Trump's no-nonsense approach, that risk is very real."
Precious metals miners bucked the trend, with Randgold Resources, Fresnillo, Hochschild and Acacia all higher thanks to the rally in gold prices.
Elsewhere, distribution and outsourcing group Bunzl moved lower despite reporting a jump in interim pre-tax profit of 17%.
Shares in Mitie had reversed course by the end of the session to trade higher after the City watchdog began to probe the timing and preparation of a profit warning last September. Mitie revealed on Monday that the Financial Conduct Authority had on Friday told the facilities management outsourcing group that an investigation "in connection with the timeliness" of the profit warning that was announced by the company on 19 September 2016.
Stock in AstraZeneca on the other hand slipped even after the company announced the US Food and Drug Administration had approved Faslodex (fulvestrant) 500mg as monotherapy for expanded use in women with hormone-receptor positive human epidermal growth factor receptor 2 negative advanced breast cancer, who have gone through menopause and have not received previous endocrine therapy.
Grainger was lower after agreeing to acquire a 375-home build-to-rent development in Salford, North West England for roughly £80m, while Restaurant Group and Tullow Oil were hit by broker downgrades.
Oilfield services company Hunting gushed lower after announcing the appointment of John Glick as non-executive chairman of the board with effect from 1 September, when Richard Hunting will step down after 26 years as chairman.
Polymetal rallied after its first-half earnings per share came in better than expected.
Investors were also digesting the latest survey from Nationwide, which showed that house price growth in the UK slowed to 2.1% in August from 2.9% in July, while month-on-month, prices fell 0.1% compared with a 0.2% increase the month before and expectations of a 0.1% gain. |
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| Market Movers
FTSE 100 (UKX) 7,337.43 -0.87%
FTSE 250 (MCX) 19,527.89 -0.73%
techMARK (TASX) 3,362.39 -0.85%
FTSE 100 - Risers
Randgold Resources Ltd. (RRS) 7,915.00p 4.56%
Fresnillo (FRES) 1,621.00p 2.59%
Anglo American (AAL) 1,353.50p 1.05%
Associated British Foods (ABF) 3,216.00p 1.01%
Coca-Cola HBC AG (CDI) (CCH) 2,625.00p 0.96%
BHP Billiton (BLT) 1,448.00p 0.77%
Ashtead Group (AHT) 1,595.00p 0.57%
Marks & Spencer Group (MKS) 314.50p 0.51%
Rentokil Initial (RTO) 295.60p 0.41%
Intertek Group (ITRK) 4,966.00p 0.36%
FTSE 100 - Fallers
ITV (ITV) 153.00p -4.91%
Morrison (Wm) Supermarkets (MRW) 242.00p -3.70%
Smurfit Kappa Group (SKG) 2,280.00p -2.94%
CRH (CRH) 2,647.00p -2.68%
Smiths Group (SMIN) 1,529.00p -2.30%
Sainsbury (J) (SBRY) 230.70p -2.29%
Standard Life Aberdeen (SLA) 431.70p -2.24%
Bunzl (BNZL) 2,283.00p -2.10%
Paddy Power Betfair (PPB) 6,665.00p -2.06%
Barclays (BARC) 190.35p -2.03%
FTSE 250 - Risers
Hochschild Mining (HOC) 286.80p 7.30%
Acacia Mining (ACA) 214.40p 6.95%
Evraz (EVR) 303.50p 4.15%
Millennium & Copthorne Hotels (MLC) 465.10p 3.10%
Euromoney Institutional Investor (ERM) 1,106.00p 2.88%
Vedanta Resources (VED) 842.00p 2.43%
ZPG Plc (ZPG) 348.20p 1.96%
Workspace Group (WKP) 867.50p 1.87%
Aggreko (AGK) 862.00p 1.83%
Kaz Minerals (KAZ) 830.50p 1.78%
FTSE 250 - Fallers
Carillion (CLLN) 47.21p -5.05%
Hunting (HTG) 382.60p -4.85%
Cairn Energy (CNE) 172.10p -4.34%
Softcat (SCT) 395.00p -3.78%
Vectura Group (VEC) 107.00p -3.60%
Weir Group (WEIR) 1,748.00p -3.59%
Playtech (PTEC) 942.50p -3.53%
Lancashire Holdings Limited (LRE) 670.00p -3.53%
IMI (IMI) 1,123.00p -3.27% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks end lower as North Korea, euro take their toll Stocks finished lower after North Korea fired what was being described as an "unidentified missile" over Japan with traders waiting on the response from the international community.
Acting as a backdrop, in the run-up to the Labor Day weekend in the States traders had been waiting on news of US tax and French labour market reform plans later in the week, amid still holiday-thinned trading volumes.
Also taing its toll on investor sentiment, early in the session the euro ht 1.2071 against the US dollar - its highest level since 2015.
By the closing bell, the benchmark Stoxx 600 had shed 1.04% or 3.87 points to 368.42, alongside a drop of 1.46% or 177.59 points to 11,945.88 in the Dax, while the Cac-40 was down by 0.94% or 47.83 points at 5,031.92.
In parallel, gold futures for December expiry were up by 0.37% to $1,320.20/oz.. on COMEX as the greenback fell by 0.63% against the Japanese yen to 108.57, which is traditionally seen as a safe haven currency.
Reacting to Pyongang's latest missile test, US president Donald Trump reportedly said that "all options are on the table".
The world "has received North Korea's latest message loud and clear: this regime has signaled its contempt for its neighbours, for all members of the United Nations, and for minimum standards of acceptable international behaviour."
A spokesman for Beijing also weighed in, reportedly reiterating previous calls for the North to suspend its missile tests in return for a cessation of the joint US-South Korean exercises.
For its part, Japan called an emergency meeting of the UN Security Council.
Commenting on the market backdrop, Mike van Dulken, head of research at Accendo Markets, said: "Equities are firmly in the red after North Korea delivered its biggest provocation in two decades by firing a ballistic missile over Japan, adding fuel to the fires of geopolitical uncertainty.
"The rush for safe havens and ditching of the USD is resulting in more unwelcome GBP and EUR strength, hurting the FTSE and DAX, while the US and oil markets deal with the effects of Hurricane Harvey."
Echoing van Dulken, Craig Erlam, senior market analyst at Oanda, added: "The missile launch comes as no surprise given proximity to the annual military exercises between the US and South Korea, but the fact that the missile was shot over Northern Japan and prompted warning sirens encouraging people to take cover is a concern."
Meanwhile, on the economic front, French household consumption grew by 0.7% month-on-month in July, alongside quarter-on-quarter GDP growth of 0.5% in the euro area's second-largest economy for the three months to June, according to INSEE.
Both readings were as expected by the market consensus.
According to GfK, its consumer confidence index for Germany referencing the month of September was seen climbing from a reading of 10.8 to 10.9 (consensus: 10.9).
Prosieben SAT1 Media was on the front foot amid reports it was looking for possible external investors to back its content production. |
| | Market Analysis 29/08/2017 From the markets: Apple, Nvidia, Oil & Bitcoin - Crude oil is down another 2% as Hurricane Harvey continues to wreak havoc on the US oil industry: Many US Gulf coast Oil rigs have been evacuated and many refiners have been shut down. With that in mind, some analysts believe that by next week, oil will Â'weather the stormÂ' and be back to over $50 a barrel.
- Possible USD volatility today: After falling to a low against the Euro, the greenback showed signs of recovery this morning. Furthermore, the USD could be affected by the Consumer BoardÂ's monthly Consumer Confidence report, to be released at 14:00 GMT.
Read More... |
| | US Market Report | | US open: Wall Street recovers its poise Wall Street's main market averages managed to shake off earlier jitters sparked jitters by news of a fresh missile test by Pyongyang which had boosted demand for safe-haven assets.
As of 1730 BST, the Dow Jones Industrial Average was edging higher by 0.06% or 12.36 points at 21,821.14, while the S&P 500 was drifting lower by 0.06% or 1.44 points to 2,442.80 the Nasdaq Composite by traded up by 0.17% or 10.50 points to 6,293.54.
Prompt month gold futures hit an 11-month high earlier in the session but later backed off to change hands at $1319.80/oz.. Similarly, the yen initially surged as news of the North Korean test led investors to look for somewhere safe to park their cash, but later fell back.
In parallel, the dollar was down by just 0.07% against the yen at 109.18.
Oanda analyst Craig Erlam said: "A ramp-up in tensions between North Korea and the US, South Korea and Japan overnight has raised geopolitical risk once again, with Kim Jong Un showing no signs of ceding to international pressures. The missile launch comes as no surprise given proximity to the annual military exercises between the US and South Korea, but the fact that the missile was shot over Northern Japan and prompted warning sirens encouraging people to take cover is a concern.
"The distressing impact of Hurricane Harvey in Houston is also weighing heavily on sentiment this morning. From a markets perspective, the uncertainty surrounding the cost and the economic implications of the storm is going to be a concern for investors, although it is difficult to look past the sheer devastation it has caused at the moment."
US President Donald Trump and Japanese Prime Minister Shinzo Abe vowed to pile more pressure on North Korea following the missile launch over Japan. Abe said the launch was an "unprecedented and grave threat" to the country's security, while Trump said the US was "100% with Japan".
The VIX Volatility index rose around 4.86% to 11.85 on Tuesday, off an intra-session high of 14.34. Still, Neil Wilson, senior market analyst at ETX Capital, said this was below the level hit just over two weeks ago when the prospect of a nuclear stand-off sharpened the minds of investors.
"Nevertheless this does look like we're heading for some post-summer volatility in equities as a number of major risks loom," he added.
On the corporate front, athletics wear company Finish Line was under the cosh after the sportshoe maker issued a profit warning late on Monday.
Best Buy was also lower after the company posted lower than expected second quarter earnings per share and sales. |
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| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Broker Tips | | Europe close: Stocks end lower as North Korea, euro take their toll Stocks finished lower after North Korea fired what was being described as an "unidentified missile" over Japan with traders waiting on the response from the international community.
Acting as a backdrop, in the run-up to the Labor Day weekend in the States traders had been waiting on news of US tax and French labour market reform plans later in the week, amid still holiday-thinned trading volumes.
Also taing its toll on investor sentiment, early in the session the euro ht 1.2071 against the US dollar - its highest level since 2015.
By the closing bell, the benchmark Stoxx 600 had shed 1.04% or 3.87 points to 368.42, alongside a drop of 1.46% or 177.59 points to 11,945.88 in the Dax, while the Cac-40 was down by 0.94% or 47.83 points at 5,031.92.
In parallel, gold futures for December expiry were up by 0.37% to $1,320.20/oz.. on COMEX as the greenback fell by 0.63% against the Japanese yen to 108.57, which is traditionally seen as a safe haven currency.
Reacting to Pyongang's latest missile test, US president Donald Trump reportedly said that "all options are on the table".
The world "has received North Korea's latest message loud and clear: this regime has signaled its contempt for its neighbours, for all members of the United Nations, and for minimum standards of acceptable international behaviour."
A spokesman for Beijing also weighed in, reportedly reiterating previous calls for the North to suspend its missile tests in return for a cessation of the joint US-South Korean exercises.
For its part, Japan called an emergency meeting of the UN Security Council.
Commenting on the market backdrop, Mike van Dulken, head of research at Accendo Markets, said: "Equities are firmly in the red after North Korea delivered its biggest provocation in two decades by firing a ballistic missile over Japan, adding fuel to the fires of geopolitical uncertainty.
"The rush for safe havens and ditching of the USD is resulting in more unwelcome GBP and EUR strength, hurting the FTSE and DAX, while the US and oil markets deal with the effects of Hurricane Harvey."
Echoing van Dulken, Craig Erlam, senior market analyst at Oanda, added: "The missile launch comes as no surprise given proximity to the annual military exercises between the US and South Korea, but the fact that the missile was shot over Northern Japan and prompted warning sirens encouraging people to take cover is a concern."
Meanwhile, on the economic front, French household consumption grew by 0.7% month-on-month in July, alongside quarter-on-quarter GDP growth of 0.5% in the euro area's second-largest economy for the three months to June, according to INSEE.
Both readings were as expected by the market consensus.
According to GfK, its consumer confidence index for Germany referencing the month of September was seen climbing from a reading of 10.8 to 10.9 (consensus: 10.9).
Prosieben SAT1 Media was on the front foot amid reports it was looking for possible external investors to back its content production. | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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