| | | | | | | 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: FTSE closes lower as risk-off takes hold once more, UK data dissapoints London stocks remained weaker at the close amid worries about North Korea's bomb test over the weekend and following the release of disappointing UK construction sector data, but losses were capped by a strong performance from precious metals miners and thanks to a softer pound.
The FTSE 100 was down 0.36% to 7,411.47, with precious metals miners Randgold and Fresnillo helping to limit the downside as gold prices rallied to an 11-month high.
Korean worries also weighed on European markets with the DAX closing 0.33% lower to 12,102.21, the CAC 40 down 0.38% to 5,103.97 and the IBEX 35 0.80% lower at 10,243.20.
Meanwhile, a weaker pound also lent some support, with the currency trading down 0.55% against the euro to 1.0861 and 0.07% versus the dollar at 1.2944.
Data released mid-morning showed activity in the UK construction sector unexpectedly declined in August to its lowest level in a year. The IHS Markit/CIPS construction purchasing managers' index fell to 51.1 from 51.9 the month before, below expectations for an uptick to 52.0 and pointing to the weakest overall UK construction performance since August 2016.
The index printed not too far off the 50.0 mark that separates contraction from expansion, with the main driver behind the slowdown being a lack of new orders to replace completed projects.
Commercial work dropped at the fastest pace since July last year, with respondents highlighting worries about the economic outlook for the UK, but residential building bucked the overall trend, with housing activity rising at an accelerated pace since July. Meanwhile, civil engineering activity was broadly flat in August.
Tim Moore, associate director at IHS Markit, said: "UK construction companies indicated that lacklustre growth conditions persisted during August. Civil engineering work stagnated, which meant that the construction sector was reliant upon greater house building activity to deliver an outright expansion in output volumes. Commercial development remained by far the worst performing category, with business activity falling at the fastest pace since July 2016.
"Survey respondents noted that subdued business investment and concerns about the UK economic outlook had led to a lack of new work to replace completed projects, especially in the commercial building sector."
In corporate news, Victrex racked up healthy gains after the high-performance polymer solutions company said it expects the annualised impact of Patent Box to reduce its effective tax rate to around 12% from 21%, with an ongoing favourable impact on earnings per share and cash.
On the downside, Micro Focus was weaker despite saying it expects to deliver medium-term benefits from its takeover of Hewlett Packard Enterprise's software business.
Low-cost airline Wizz Air flew a little lower despite reporting a 24.4% jump in passenger numbers in August as the load factor ticked higher.
Acacia Mining was in the red as it said it expects to return to positive cash generation early in 2018 after it stopped underground mining at one of its three Tanzanian mines. |
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| Market Movers
FTSE 100 (UKX) 7,411.47 -0.36%
FTSE 250 (MCX) 19,697.91 -0.45%
techMARK (TASX) 3,408.14 -0.55%
FTSE 100 - Risers
Fresnillo (FRES) 1,664.00p 2.91%
Next (NXT) 4,237.00p 2.49%
DCC (DCC) 7,285.00p 2.03%
Johnson Matthey (JMAT) 2,839.00p 2.01%
Randgold Resources Ltd. (RRS) 8,060.00p 1.90%
Tesco (TSCO) 185.55p 1.34%
Paddy Power Betfair (PPB) 6,960.00p 0.72%
Babcock International Group (BAB) 816.00p 0.62%
BT Group (BT.A) 289.95p 0.52%
British Land Company (BLND) 608.00p 0.50%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 604.50p -2.03%
Mondi (MNDI) 2,086.00p -1.79%
Provident Financial (PFG) 857.00p -1.72%
Prudential (PRU) 1,792.50p -1.67%
Taylor Wimpey (TW.) 198.40p -1.64%
Royal Mail (RMG) 386.00p -1.63%
Standard Life Aberdeen (SLA) 429.90p -1.62%
Barratt Developments (BDEV) 618.50p -1.43%
Standard Chartered (STAN) 763.50p -1.34%
Royal Bank of Scotland Group (RBS) 249.70p -1.23%
FTSE 250 - Risers
Carillion (CLLN) 48.52p 14.38%
Victrex plc (VCT) 2,222.00p 8.66%
Polymetal International (POLY) 896.00p 3.46%
Amec Foster Wheeler (AMFW) 442.10p 3.44%
Wood Group (John) (WG.) 592.50p 3.31%
Hochschild Mining (HOC) 292.60p 2.63%
Cairn Energy (CNE) 174.60p 2.52%
Centamin (DI) (CEY) 158.30p 2.39%
Indivior (INDV) 273.50p 2.20%
Tullow Oil (TLW) 154.50p 2.18%
FTSE 250 - Fallers
Melrose Industries (MRO) 209.30p -4.60%
Coats Group (COA) 76.00p -3.74%
Restaurant Group (RTN) 325.70p -3.44%
Euromoney Institutional Investor (ERM) 1,077.00p -3.41%
Sophos Group (SOPH) 517.50p -2.82%
Acacia Mining (ACA) 201.50p -2.70%
Hikma Pharmaceuticals (HIK) 1,196.00p -2.53%
ZPG Plc (ZPG) 353.70p -2.43%
Millennium & Copthorne Hotels (MLC) 460.00p -2.31% |
| | Market Analysis 04/09/2017 Today’s highlights: Global markets seen lower - Labor Day vacation in the US and Canada: Stock markets, banks and other financial institutions will be closed in North America today, in observance of Labor Day. Low liquidity and volatility could be expected.
- Cryptocurrency market seen lower: After reaching never-before-seen heights last week, the crypto market slowed down in the past 24 hours, as many top cryptocurrencies, including Bitcoin, Ethereum and Litecoin showed a correction.
Read More... |
| | US Market Report | | US open: Stocks flat ahead of Labor Day, despite tax reform news A 'noisy' US jobs report for August alongside mixed readings on the economy has left Wall Street trading on a mixed note ahead of the long Labor Day weekend.
At 1514 BST, the Dow Jones Industrial Average was higher by 0.26% or 58.27 points at 22,011, as the S&P 500 tacked on 0.19% or 4.41 points to 2,476, alongside a 0.17% or 4.13 point advance for the Nasdaq Composite that took it to 6,428.
Acting as a backdrop, overnight US Treasury Secretary Steve Mnuchin told CNBC the White House already had a "very detailed" tax plan ready.
Meanwhile, oil prices were lower as Hurricane Harvey paralysed more than a quarter of the US refining industry. West Texas Intermediate was down 0.94% to $46.79 a barrel on the NYMEX. Gasoline futures were also lower on profit-taking, falling 3.0% to $1.7259 a gallon.
ETX Capital's Neil Wilson commented, "The US dollar was driven down and then snapped back to trade almost flat after a weaker-than-expected jobs report left traders searching for direction. Although a miss it looks like this print isn't doing anything to alter projections for what the Federal Reserve will do later this month or for the rest of the year.
"The labour market remains in fine health, wage growth is AWOL and inflation lacklustre - nothing has changed today. One swallow doesn't make a summer and one August jobs miss doesn't make for a weakening labour market. Markets have already decided the Fed probably won't hike again this year."
America's job market created 156,000 new posts last month (consensus: 180,000) and, at 0.1% on the month, wage growth fell short of expectations (again).
The details of the report were similarly lacklustre, when not worse, although so-called 'underemployment' as measured by the U6 rate of joblessness was modestly improved, Barclays's Michael Gapen said in a research note sent to clients.
Nevertheless, several economists were quick to point out that August was historically a "noisy month" (Gapen included).
Hence, he said: "We continue to look for an announcement on balance sheet normalization at the September FOMC meeting and see a rate hike in December as still likely, pending further incoming data on inflation and the outcome of potential near-term disruptions to activity, including Hurricane Harvey and the pending deadlines to raise the debt ceiling and extend the federal budget."
Fed funds futures were slightly higher versus where they were early on Thursday, assigning 42% odds to a December rate hike from the Fed.
Economists at Goldman Sachs on the other hand were reportedly slightly more optimistic, telling clients they saw a 55% chance of an end of year increase in rates.
On the positive side of the ledger, separate readings from ISM and IHS Markit on factory sector activity in August both edged past forecasts.
Construction output however weakened noticeably, shrinking by 0.6% on the month (consensus: 0.5%).
Consumer confidence in the States also undershot forecasts, printing at 96.8 at the end of August, up from 93.4 for end July but lower than a preliminary estimate of 97.6. |
| | 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 |
| | 
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