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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: FTSE lower and Europe mixed ahead of North Korea concerns London closed lower on Friday as investors digested a mixed set of UK data, amid worries that North Korea might be preparing for a missile launch on Saturday to mark the celebration of its founding day.
The FTSE 100 was down 0.26% to 7,377.60, while the pound was up 0.65% against the euro at 1.0971 and 0.75% higher versus the dollar to 1.3199.
Over in Europe, markets displayed a mixed picture with the DAX up 0.06% to 12,303.98, the CAC 40 lower to 5,113.49 and the Ibex 35 down 0.05% to 10,129.60.
Oanda analyst Craig Erlam said: "Risk aversion is creeping back into the markets on Friday as traders prepare for what could be another troubling weekend in the ongoing stand-off between the US and North Korea.
"What makes this weekend more concerning than others is that North Korea celebrates founding day on Saturday, which would be the perfect opportunity for it to display a show of strength, as it did on the same day last year. With that in mind, it will be interesting to see just how people trade into the close and whether the flight for safety starts early this week," adding, "Equity markets are also a little mixed in a sign that risk appetite remains weak."
Market participants were also mulling over the latest figures from the Office for National Statistics, which showed a surprise rise in manufacturing output in July, but a worse-than-expected drop in construction output.
Meanwhile, there was little change in the UK's trade deficit in July, which came in at £2.87bn.
In corporate news, pub companies were all dragged down as brewer and pub operator Greene King slumped after it said pub revenues fell in the in the first 18 weeks of the year and it is feeling cautious about the coming months amid weaker consumer confidence, increased costs and increasing competition. Peers Mitchells & Butler, JD Wetherspoon, Fullers and most of all Marston's were all pulled down with it.
Experian was trading lower as US credit reporting giant Equifax said the persoanl data of around 143m of its customers may have been compromised in a cyber security breach.
British Land nudged down after announcing its debut sterling bond issue for £300m at a coupon of 2.375% for 12 years.
On the upside, Dairy Crest edged higher after the cheese-maker said it will trim its cash pension contributions by around £12m over the next two years and its future pensions bill will be reduced as it moves retirees' benefit increase to the consumer price index rather than the retail price index.
Vectura was in the black after chief financial officer Andrew Derodra bought 82,00 shares in the pharmaceuticals company, while Burberry was boosted by an upgrade to 'outperform' at Credit Suisse. |
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| Market Movers
FTSE 100 (UKX) 7,377.60 -0.26%
FTSE 250 (MCX) 19,610.40 -0.44%
techMARK (TASX) 3,458.71 0.01%
FTSE 100 - Risers
St James's Place (STJ) 1,142.00p 2.15%
Barclays (BARC) 187.60p 1.96%
Convatec Group (CTEC) 278.20p 1.90%
Royal Bank of Scotland Group (RBS) 244.40p 1.33%
G4S (GFS) 281.60p 1.29%
Coca-Cola HBC AG (CDI) (CCH) 2,663.00p 1.22%
Worldpay Group (WPG) 416.60p 1.19%
Intertek Group (ITRK) 5,055.00p 1.10%
Lloyds Banking Group (LLOY) 63.77p 1.09%
Bunzl (BNZL) 2,279.00p 0.97%
FTSE 100 - Fallers
BHP Billiton (BLT) 1,402.50p -3.77%
Antofagasta (ANTO) 1,008.00p -3.72%
Kingfisher (KGF) 288.00p -3.61%
Anglo American (AAL) 1,378.00p -3.43%
Rio Tinto (RIO) 3,600.50p -3.10%
Fresnillo (FRES) 1,621.00p -3.05%
Persimmon (PSN) 2,540.00p -1.89%
Marks & Spencer Group (MKS) 321.30p -1.80%
Pearson (PSON) 586.00p -1.68%
Micro Focus International (MCRO) 2,424.00p -1.58%
FTSE 250 - Risers
Sirius Minerals (SXX) 26.98p 7.58%
Vectura Group (VEC) 95.80p 6.50%
Sanne Group (SNN) 808.50p 4.86%
Dechra Pharmaceuticals (DPH) 2,073.00p 4.70%
Stobart Group Ltd. (STOB) 303.90p 4.48%
NMC Health (NMC) 2,836.00p 3.54%
Ocado Group (OCDO) 310.70p 2.78%
Northgate (NTG) 416.50p 2.46%
Sports Direct International (SPD) 400.00p 2.38%
RPC Group (RPC) 926.50p 2.32%
FTSE 250 - Fallers
Greene King (GNK) 555.50p -15.71%
Marston's (MARS) 104.00p -8.55%
Halfords Group (HFD) 309.30p -6.31%
Kaz Minerals (KAZ) 788.00p -6.19%
Wetherspoon (J.D.) (JDW) 992.50p -5.66%
Howden Joinery Group (HWDN) 403.00p -5.60%
Polypipe Group (PLP) 387.00p -5.38%
Rathbone Brothers (RAT) 2,508.00p -5.36%
Lancashire Holdings Limited (LRE) 610.00p -4.61% |
| | Market Analysis 08/09/2017 Today’s highlights: Global markets seen lower - US closes mostly lower: Both the Dow Jones and S&P 500 closed slightly lower yesterday, while the Nasdaq showed small gains.
- Disney falls more than 4%: The entertainment giant tumbled after CEO Bob Iger said that the companyÂ's earning per share this year will be in line with earnings reported in 2016.
Read More... |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks end mixed, all eyes on North Korea European equity markets finished the week on a mixed note, with weakness in the US currency and corresponding strength in the euro still very much on traders' minds against a backdrop of heightened risks of a further missile test by North Korea at the weekend.
By the closing bell, the benchmark Stoxx 600 was edging higher by 0.15% or 0.56 points at 375.51, with the German Dax up by 0.06% at 12,303.98 while the Cac-40 slipped 0.02% or 1.13 points to 5,113.49.
Europe's single currency was little changed at 1.2029 at the end of the session, but rose as high as 1.2093 earlier in the day on the back of a Reuters report according to which rate-setters in Frankfurt had discussed tapering their bond-buying programme by more and more quickly than some economists had been anticipating.
According to sources who asked to remain anonymous, policymakers had discussed various options for tapering their quantitative easing programme.
One of those was for a reduction in the pace of bond buying from €60m as at present to between 20bn to €40bn, with the QE scheme being allowed to run for another six to nine months.
On a related note, well-known monetary policy hawk Jens Weidmann, the head of the Bundesbank, reportedly suggested the ECB "be careful" not to miss the right moment to tweak its policy stance.
Commenting on Friday's dollar weakness, Crag Erlam, senior market analyst at Oanda, said: "What makes this weekend more concerning than others is that North Korea celebrates founding day on Saturday, which would be the perfect opportunity for it to display a show of strength, as it did on the same day last year."
The US dollar was on track for its worst week since the end of June, with traders' bearishness towards the currency unit only increasing as time passes, Erlam.
Erlam also noted how the day before the US dollar spot index had surrendered the 92.0 to 93.0 point zone on price charts, an area which had been acting as technical support since the begining of 2015.
Worth noting, the Japanese yen was higher on all its main crosses, likely in anticipation of another 'gift' from Pyongyang at the weekend.
Regarding the latest European data, Germany's trade surplus with the rest of the world shrank from €21.2bn in June to €19.6bn for July, as imports shot up by 2.2% on the month.
French industrial production grew by 0.5% month-on-month in July (consensus: 0.8%), according to INSEE, with manufacturing weighed down by lower refining activity and food output.
Industrial activity was also weaker, falling by 0.3% on the month (consensus: 0.0%).
Meanwhile, on the corporate front, shares of many European car manufacturers were all higher on the heels of Chinese data showing that passenger vehicle sales advanced by 5.8% in August. Peugeot was an exception after BNP Paribas downgraded the stock from 'neutral' to 'underperform'.
Hermes shares were on the back foot after failing to be included in the Cac-40, havinig lost out to ST Microelectronics. |
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| | US Market Report | | US open: Stocks flat as dollar falls to 33-month low Wall Street is trading on a mixed note heading into the weekend, alongside another slide in the US dollar to 33-month lows as Hurricane Irma made its way towards Florida and amid concerns about another potential missile launch by North Korea.
At 1524 BST, the Dow Jones Industrial Average was 0.16% or 35.38 points higher to 2,818.86, alongside a dip of 0.31% or 19.78 points to 6,378.18 while the Nasdaq Composite was off by 0.08% or 2.01 points to 2,463.50.
In parallel, the US dollar spot index was down by 0.29% to 91.40, having broker below an area of technical support dating back to 2015, according to Craig Erlam, senior market analyst at Oanda.
From a sector standpoint, the worst performing areas of the market were: Industrial Metals (-2.20%), Property & casualty (-2.19%) and Exploration & Production (-1.70%).
Also weighing on the greenback, overnight the president of the Federal Reserve bank of New York, William Dudley, said he expected the central bank would continue gradually removing monetary policy accomodation.
However, he was "surprised" by the persistent shortfall in inflation versus the Fed's target, adding that in part it might be the result of "more fundamental structural changes".
Recent changes among the top ranks of the Federal Reserve were also a concern.
CMC Markets analyst David Madden said: "The US dollar has been under pressure since Stanley Fischer stated he was stepping down next month. Mr Harker has been known to hold hawkish views but it will be interesting to see if still feels the same in light of some underwhelming US economic data."
Acting as a backdrop, traders were considering the possibility that North Korea might be preparing for a missile launch on Saturday to mark the celebration of its founding day.
At the same time, market participants were fretting about the impact of category 5 Hurricane Irma, which is expected to hit Florida at the weekend. The head of the US emergency agency is predicting a "truly devastating" impact from the hurricane, which has already left a trail of destruction across the Caribbean, leaving at least 14 people dead.
IG market analyst Joshua Mahony said: "As Hurricane Irma heads towards Florida, the likely widespread damage could impact Fed decision making, given the effect it could have on jobs, productivity and consumer spending."
Meanwhile, an 8.2-magnitude earthquake in Mexico, which killed at least five people, did nothing to help the mood.
In corporate news, shares in credit report giant Equifax tanked after disclosing that around 143m of its customers may have been compromised in a cyber security breach.
Kroger Co. stock was also under the weather after reporting an 8% drop in second quarter profits.
American Outdoor Brands was also sharply lower after posting a first-quarter loss late on Thursday.
Dow Jones - Risers
Travelers Company Inc. (TRV) $117.06 1.63%
Goldman Sachs Group Inc. (GS) $218.20 1.09%
Home Depot Inc. (HD) $159.60 1.06%
Boeing Co. (BA) $238.28 0.83%
JP Morgan Chase & Co. (JPM) $89.22 0.78%
3M Co. (MMM) $205.76 0.64%
American Express Co. (AXP) $84.82 0.49%
Procter & Gamble Co. (PG) $93.10 0.14%
Pfizer Inc. (PFE) $34.01 0.04%
Visa Inc. (V) $104.59 0.03%
Dow Jones - Fallers
Intel Corp. (INTC) $35.22 -0.91%
Verizon Communications Inc. (VZ) $45.81 -0.85%
General Electric Co. (GE) $23.82 -0.83%
Apple Inc. (AAPL) $160.05 -0.75%
Wal-Mart Stores Inc. (WMT) $79.52 -0.75%
Chevron Corp. (CVX) $111.11 -0.62%
Exxon Mobil Corp. (XOM) $78.69 -0.43%
International Business Machines Corp. (IBM) $142.37 -0.37%
Johnson & Johnson (JNJ) $131.83 -0.28%
Walt Disney Co. (DIS) $96.80 -0.27%
S&P 500 - Risers
Navient Corporation (NAVI) $13.86 5.48%
Symantec Corp. (SYMC) $31.62 3.33%
Northern Trust Corp. (NTRS) $89.09 2.59%
Endo International Plc (ENDP) $8.77 2.51%
Charles Schwab Corp. (SCHW) $39.05 2.47%
Ingersoll Rand Ltd. (IR) $87.10 2.40%
CME Group Inc. (CME) $128.75 2.39%
United Rentals Inc. (URI) $125.96 2.34%
XL Group Ltd (XL) $37.31 2.28%
Willis Towers Watson Public Limited Company (WLTW) $151.10 2.19%
S&P 500 - Fallers
Equifax Inc. (EFX) $121.73 -14.71%
Range Resources Corp. (RRC) $16.65 -7.04%
Kroger Co. (KR) $21.50 -5.60%
Freeport-McMoRan Inc (FCX) $14.37 -5.52%
Chipotle Mexican Grill Inc. (CMG) $302.72 -4.58%
Southwestern Energy Co. (SWN) $5.25 -4.55%
Chesapeake Energy Corp. (CHK) $3.70 -4.39%
EQT Corp. (EQT) $59.78 -3.75%
Marathon Oil Corp. (MRO) $11.35 -3.64%
Newfield Exploration Co (NFX) $25.31 -3.47%
Nasdaq 100 - Risers
Symantec Corp. (SYMC) $31.62 3.33%
Marriott International - Class A (MAR) $103.51 1.72%
Check Point Software Technologies Ltd. (CHKP) $112.91 1.34%
Intuitive Surgical Inc. (ISRG) $1,047.42 1.06%
Autodesk Inc. (ADSK) $115.23 1.03%
Dentsply International Inc. (XRAY) $58.38 0.95%
Mercadolibre Inc. (MELI) $260.75 0.80%
Amgen Inc. (AMGN) $182.06 0.75%
Regeneron Pharmaceuticals Inc. (REGN) $474.70 0.59%
Biogen Inc (BIIB) $325.74 0.57%
Nasdaq 100 - Fallers
Incyte Corp. (INCY) $128.44 -4.39%
Discovery Communications Inc. Class C (DISCK) $19.52 -2.89%
Discovery Communications Inc. Class A (DISCA) $20.73 -2.86%
Mattel Inc. (MAT) $15.27 -1.86%
Comcast Corp. (CMCSA) $37.89 -1.84%
Charter Communications Inc. (CHTR) $388.74 -1.74%
Nvidia Corp. (NVDA) $163.72 -1.72%
Liberty Global plc Series A (LBTYA) $32.51 -1.66%
Liberty Global plc Series C (LBTYK) $31.60 -1.65% |
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