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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 pare losses as pound falls back, Korea crisis still on radar London stocks finished lower on Monday, but off their worst levels, helped along by a weakening of the pound versus the dollar, although the currency remained firmer against the euro after Angela Merkel secured a fourth term as German chancellor but with the tricky task of setting up a coalition.
The FTSE 100 was off by 0.13% or 9.35 points to 7,301.29 by the closing bell, with the pound 0.52% lower versus the US dollar at 1.3434 but 0.44% stronger versus the euro after Merkel's conservative bloc saw its worst result in nearly 70 years in the general elections held at the weekend.
Merkel's CDU/CSU made off with 33% of the ballots even as anti-immigration Alternative for Germany (AfD) took 12.6% of the vote.
A firmer pound tends to weigh on the main index as around 70% of its constituents derive their earnings from overseas.
The recovery in the top flight index materialised despite early losses on Wall Street, against a backdrop of renewed angry rhetoric from Pyongyang, whose foreign minister said North Korea interpreted recent remarks from the US president as a declaration of war.
Speaking in New York, the country's foreign minister threatened to shoot down US strategic bombers even if they were not flying inside the country's airspace.
Over the weekend, President Trump warned North Korea's leaders they would "not be around much longer if the country tried to act against America or its allies.
Investors were also digesting Moody's downgrade of the UK's credit rating late on Friday to an Aa2 from Aa1 as the ratings agency said leaving the European Union could dent the country's economic growth.
On the corporate front, shares in Imagination Technologies bucked the trend, surging 33% after the company agreed late on Friday to be taken over by US-based, Chinese-backed private equity firm Canyon Bridge Partners for £550m.
Tullow Oil was also on the front foot after it said that its TEN fields offshore Ghana will not be affected by the maritime boundary dispute between Ghana and Cote d'Ivoire
Unilever nudged up after it agreed to buy skincare business, Carver Korea, from Bain Capital and Goldman Sachs for €2.27bn, while Pennon gained after the water and waste company said its half-year results remained "on track to deliver in line" for both businesses and it felt well placed for the rest of the year.
On the downside, Essentra slipped red after confirming that its health and personal care packaging sites at Manati and Guaynabo in Puerto Rico have been disrupted as a result of Hurricane Maria, although both sites remained "fundamentally intact".
Stock in UAE-based healthcare provider NMC Health dipped reversed earlier gains to trade slightly lower despite announced a significant expansion into the Kingdom of Saudi Arabia, as it received all the necessary regulatory approvals for a long-term care facility in Jeddah.
Shaftesbury was a little weaker as it said demand for West End properties has help up but leasing transactions at larger sites have slowed down due to current political and macroeconomic uncertainties. |
| | 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 |
| Market Movers
FTSE 100 (UKX) 7,301.29 -0.13%
FTSE 250 (MCX) 19,566.42 0.25%
techMARK (TASX) 3,460.97 0.51%
FTSE 100 - Risers
Convatec Group (CTEC) 271.00p 1.50%
BT Group (BT.A) 286.95p 1.47%
ITV (ITV) 168.70p 1.44%
Land Securities Group (LAND) 976.00p 1.40%
Pearson (PSON) 584.50p 1.39%
BP (BP.) 472.40p 1.24%
Hargreaves Lansdown (HL.) 1,472.00p 1.24%
Rentokil Initial (RTO) 296.20p 1.13%
Paddy Power Betfair (PPB) 7,355.00p 1.10%
Next (NXT) 5,195.00p 1.07%
FTSE 100 - Fallers
Mediclinic International (MDC) 645.50p -5.14%
Antofagasta (ANTO) 908.00p -3.35%
Anglo American (AAL) 1,288.50p -3.34%
RSA Insurance Group (RSA) 620.00p -2.44%
Prudential (PRU) 1,741.50p -1.83%
Rio Tinto (RIO) 3,436.00p -1.83%
Standard Chartered (STAN) 717.60p -1.70%
Lloyds Banking Group (LLOY) 65.87p -1.55%
Direct Line Insurance Group (DLG) 363.80p -1.54%
Ashtead Group (AHT) 1,760.00p -1.40%
FTSE 250 - Risers
Tullow Oil (TLW) 191.00p 7.12%
Vectura Group (VEC) 105.10p 4.79%
Petrofac Ltd. (PFC) 454.60p 4.55%
Hunting (HTG) 468.10p 4.32%
Mitchells & Butlers (MAB) 254.80p 3.76%
Nostrum Oil & Gas (NOG) 389.60p 3.75%
Ladbrokes Coral Group (LCL) 124.90p 3.74%
Hikma Pharmaceuticals (HIK) 1,169.00p 3.73%
Dunelm Group (DNLM) 677.50p 3.59%
Cairn Energy (CNE) 191.70p 3.23%
FTSE 250 - Fallers
Stobart Group Ltd. (STOB) 274.00p -3.72%
Ferrexpo (FXPO) 276.00p -3.53%
Sophos Group (SOPH) 532.00p -3.18%
Bovis Homes Group (BVS) 1,031.00p -2.55%
Galliford Try (GFRD) 1,293.00p -2.42%
Kaz Minerals (KAZ) 711.00p -2.13%
Ashmore Group (ASHM) 337.90p -2.09%
Melrose Industries (MRO) 202.10p -2.04%
Vedanta Resources (VED) 803.00p -2.01%
Virgin Money Holdings (UK) (VM.) 263.40p -1.94% |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Periphery stocks sag, Spanish country risk edges higher European stocks finished on a mixed note following a weak showing for Germany's two mainstream political parties in elections held at the weekend, amid some concerns regarding the potential implications of the upcoming referendum in Catalonia, with the latter apparently weighing on share prices in the periphery.
Fiery rhetoric out of Pyongang added to the downbeat sentiment, while boosting demand for safe havens such as gold.
Commenting on the result of the German elections, Holger Schmieding at Berenberg said coalition talks between Angela Merkel's CDU/CSU would be "difficult" after her party lost over eight percentage points of the ballots in comparison to 2013.
Although most of those votes went to the Freedom Party, the CDU/CSU also did quite poorly versus the right-wing Alternative for Deutschland in Bavaria.
Against that backdrop, at the closing bell the German Dax was edging up by 0.02% or 2.46 points at 12,594.81, but alongside a dip of 0.39% or 20.62 points to 5,270.26 for the French Cac-40.
Spain's Ibex 35 fared even worse, losing 0.86% to 10,216.50 amid reports that Spain's Basque nationalist party might withdraw its support for the central government in its attempts to gain parliamentary approval for the country's 2018 budget due to events in Catalonia.
In parallel, country risk in Spain and Italy, as measured by the spread between their 10-year government bond yields and those on similarly-dated German debt increased.
Meanwhile, euro/dollar was down by 0.92% to 1.1838 and at its session lows, due in part to events in Germany and Spain, but also because of dovish remarks from European Central Bank boss Mario Draghi.
According to Kathleen Brooks, Research Director at City Index, the German vote showed that populism was alive and well in Europe, although she expected the resulting weakness in the euro - possibly down to 1.1650 against the US dollar - to be "relatively muted".
Spain on the other hand was now the "bigger risk", she said, in so far as the illegal referendum planned for 1 October increases the risk that the region might secede.
"Thus, if the Catalonia referendum goes ahead we expect this to be a disruptive event for the euro, with the potential for a sharp decline of up to 5% initially in the single currency if the separatists win," Brooks said.
As for Draghi, in remarks prepared for a speech to the European Parliament's economic committee he said downside risks continued to exist, mainly relating to global factors and developments in foreign exchange markets.
In reaction, traders were quick to mark down the single currency's value.
Economic data also disappointed at the start of the week, with the IFO institute reporting that its widely-followed business confidence gauge for Germany fell from a reading of 115.9 for October to 115.2 in September (consensus: 116.0).
On the corporate front, France's Alstom and German rival Siemens were reportedly studying a combination of their rail activities.
In notable changes to broker recommendations, analysts at Berenberg upgraded Wacker Chemie from 'hold' to 'buy' and raised their target for the stock from €112 to €135.
For its part, in a research note entitled "Why Airbus is materially mispriced", Barclays hiked its target on shares of Airbus from €86 to €110.
Hellman & Friedman announced its intention to buy Nets A/S for $5.3bn (£3.93bn). |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US open: Stocks dip amid European uncertainty, Fedspeak US stocks were slightly lower at the beginning of the week as investors looked ahead to speeches from various Federal Reserve policymakers and digested the German election results over the weekend.
At 1519 BST, the Dow Jones Industrials Average was little changed, drifting lower by just 0.03% or 6.57 points to 22,343.25, while the S&P 500 was off by 0.09% or 2.13 points to 2,500.01, while the Nasdaq Composite was down by 0.68% or 43.40 points at 6,382.70.
In parallel, the US dollar spot index was edging slightly higher, gaining 0.34% to 92.49, while front month Brent crude oil futures were rising by 1.38% to trade at $51.37 a barrel on the ICE.
Weakness in the euro was on the back of news at the weekend that Angela Merkel had secured a fourth term as German chancellor but with the tricky task of setting up a coalition. Merkel's conservative bloc saw its worst result in nearly 70 years, taking 33% of the vote as anti-immigration Alternative for Germany (AfD) took 12.6% of the vote.
Also putting a bid into the Greenback, speaking earlier in the session New York Fed chief William Dudley reiterated the Federal Reserve's long-standing stance that the factors bearing down on inflation were temporary and idyosincratic in nature.
Over the medium-term, inflation would stabilise around the central bank's 2% target, he said.
Pushing energy quotes higher, some analysts were referencing hopes that the Organisation of Petroleum Exporting Countries might extend and perhaps even deepen its existing production curbs.
"The euro has taken a hit against the dollar and that trend looks likely to continue while Merkel pieces together a coalition. It appears that the Chancellor will be forced into bed with the Greens and the Free Democrats (FDP).
"While the Greens present no obvious threat to the political and economic stability of Europe, the FDP's known opposition to French leader Emmanuel Macron could be a fork in the road for Franco-German relations," said Dennis De Jong, Managing Director at UFX.com.
Still on the economic calendar for later in the day was a speech from Chicago Fed President Charles Evans in Michigan at 1740 BST.
A Q&A session was also scheduled with Minneapolis Fed President Neel Kashkari in North Dakota at 2330 BST.
In corporate news, US-listed shares of Unilever were in focus after the consumer goods giant agreed to buy South Korean skincare business Carver Korea for €2.27bn.
Allergan was also making headlines after announcing its intention to carry out a $2bn share buyback programme.
Meanwhile, shares in Genuine Parts Co. were on the front foot after disclosing an agreement to purchase Alliance Automotive Group for $2bn.
General Electric was also likely to be active after agreeing to sell its industrial solution unit to Switzerland's ABB for $2.6bn.
Dow Jones - Risers
Exxon Mobil Corp. (XOM) $80.63 0.89%
Walt Disney Co. (DIS) $99.40 0.81%
Wal-Mart Stores Inc. (WMT) $79.97 0.55%
Chevron Corp. (CVX) $117.86 0.49%
Home Depot Inc. (HD) $160.75 0.49%
Cisco Systems Inc. (CSCO) $33.53 0.46%
Procter & Gamble Co. (PG) $92.66 0.46%
General Electric Co. (GE) $24.98 0.44%
International Business Machines Corp. (IBM) $145.64 0.35%
Travelers Company Inc. (TRV) $122.43 0.32%
Dow Jones - Fallers
Visa Inc. (V) $103.97 -1.51%
Microsoft Corp. (MSFT) $73.42 -1.33%
Apple Inc. (AAPL) $150.25 -1.08%
McDonald's Corp. (MCD) $157.34 -0.99%
Boeing Co. (BA) $254.85 -0.62%
United Technologies Corp. (UTX) $114.31 -0.61%
3M Co. (MMM) $209.64 -0.53%
Unitedhealth Group Inc. (UNH) $192.17 -0.45%
JP Morgan Chase & Co. (JPM) $94.46 -0.39%
Intel Corp. (INTC) $37.04 -0.36%
S&P 500 - Risers
Transocean Ltd. (RIG) $10.02 7.51%
Genuine Parts Co. (GPC) $93.98 6.82%
Diamond Offshore Drilling Inc. (DO) $14.06 5.95%
Frontier Communications Co. (FTR) $12.36 4.66%
CenturyLink Inc. (CTL) $19.33 4.26%
Allergan plc (AGN) $212.10 3.64%
Ross Stores Inc. (ROST) $63.10 3.63%
Under Armour Inc. Class A (UAA) $16.97 3.41%
Colgate-Palmolive Co. (CL) $73.57 3.34%
Apache Corp. (APA) $44.89 3.03%
S&P 500 - Fallers
TripAdvisor Inc. (TRIP) $41.01 -7.57%
Quest Diagnostics (DGX) $95.01 -6.95%
Total System Services Inc. (TSS) $65.03 -5.86%
First Solar Inc. (FSLR) $48.86 -4.96%
Netflix Inc. (NFLX) $180.82 -3.49%
Facebook Inc. (FB) $164.67 -3.44%
Laboratory Corporation of America Holdings (LH) $149.81 -3.39%
Electronic Arts Inc. (EA) $114.71 -3.20%
Qorvo, Inc. (QRVO) $69.00 -3.09%
Nvidia Corp. (NVDA) $173.64 -2.99%
Nasdaq 100 - Risers
Ross Stores Inc. (ROST) $63.10 3.63%
O'Reilly Automotive Inc. (ORLY) $214.98 2.57%
Tractor Supply Company (TSCO) $62.09 1.59%
Viacom Inc. Class B (VIAB) $28.08 1.57%
Liberty Interactive Corporation QVC Group (QVCA) $24.12 1.52%
Mylan Inc. (MYL) $31.77 1.50%
Express Scripts Holding Co (ESRX) $63.12 1.34%
American Airlines Group (AAL) $47.54 1.02%
Regeneron Pharmaceuticals Inc. (REGN) $437.05 1.00%
Celgene Corp. (CELG) $145.27 0.96%
Nasdaq 100 - Fallers
Netflix Inc. (NFLX) $180.82 -3.49%
Facebook Inc. (FB) $164.67 -3.44%
Mercadolibre Inc. (MELI) $270.05 -3.37%
JD.com, Inc. (JD) $40.99 -3.26%
Electronic Arts Inc. (EA) $114.71 -3.20%
Nvidia Corp. (NVDA) $173.64 -2.99%
Skyworks Solutions Inc. (SWKS) $100.10 -2.90%
NetEase Inc. Ads (NTES) $263.87 -2.85%
Micron Technology Inc. (MU) $35.08 -2.74%
Activision Blizzard Inc. (ATVI) $62.26 -2.57% | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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