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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 open: Stocks rise as North Korea concerns recede, insurers gain London stocks rose in early trade on Monday as worries about North Korea receded, with a strong showing in the insurance sector lending a hand.
At 0830 BST, the FTSE 100 was up 0.5% to 7,413.97, as investors set aside their worries about North Korea - at least for now - breathing a sigh of relief that the country chose not to launch more missiles to celebrate its 69th anniversary over the weekend.
Insurers Prudential, Admiral, RSA, Direct Line, Beazley, Lancashire and Hiscox all made healthy gains, with traders pointing to the fact that Hurricane Irma's strength was downgraded as it hit Florida. The likes of Admiral and Direct Line were also likely to still be benefiting from last week's news about changes to the Ogden discount rate.
Elsewhere, AstraZeneca rallied as it said it had seen positive results from two trials for lung cancer treatments, while Derwent London racked up healthy gains after saying it has pre-let most of the remaining office space at 80 Charlotte Street in London to The Boston Consulting Group.
Vodafone edged higher after announcing that its Germany division is to invest around €2bn of "incremental capital expenditure" by the end of the 2021 calendar year in gigabit ultrafast fibre broadband services.
Kaz Minerals advanced after appointing John Hadfield as its new chief financial officer with effect from January 2018, while John Laing gained ground as it posted an 11.5% jump in its net asset value for the first half.
British Land was boosted by an upgrade to 'buy' at Deutsche Bank, while SIG was lifted by an upgrade to 'buy' at Canaccord.
On the downside, Associated British Foods was in the red despite saying group operating profits will be "well ahead" of last year after its Primark clothing arm was able to reduce levels of price promotion, with the sugar business also adding a hefty spoonful to the bottom line.
Outsourcer Carillion slumped as it announced that its finance director has left the company with immediate effect with three other directors departing at the end of the month.
Shares in Petra Diamonds tanked after the company confirmed that a parcel of diamonds from its Williamson mine in Tanzania has been blocked from export to its marketing office in Antwerp and some of its key personnel from Williamson are being questioned by the authorities.
The statement was made in response to earlier press reports about the findings of an investigation into the diamond sector by a parliamentary committee in Tanzania. Petra said "the grounds upon which these actions have been taken have not been formally made know to the company" yet, but according to reports, the government has accused Petra of declaring a lower value when trying to export the gems. |
| Market Movers
FTSE 100 (UKX) 7,413.97 0.49%
FTSE 250 (MCX) 19,679.33 0.35%
techMARK (TASX) 3,469.14 0.30%
FTSE 100 - Risers
AstraZeneca (AZN) 4,897.00p 2.52%
Provident Financial (PFG) 805.00p 2.45%
British Land Company (BLND) 611.00p 1.84%
Carnival (CCL) 5,110.00p 1.49%
Prudential (PRU) 1,783.50p 1.36%
Persimmon (PSN) 2,561.00p 1.18%
Admiral Group (ADM) 1,860.00p 1.15%
ITV (ITV) 162.20p 1.12%
RSA Insurance Group (RSA) 642.00p 1.02%
Direct Line Insurance Group (DLG) 386.80p 1.02%
FTSE 100 - Fallers
Micro Focus International (MCRO) 2,373.00p -1.86%
Fresnillo (FRES) 1,587.00p -1.73%
Randgold Resources Ltd. (RRS) 8,005.00p -1.54%
Rolls-Royce Holdings (RR.) 894.50p -0.62%
Associated British Foods (ABF) 3,247.00p -0.55%
Antofagasta (ANTO) 1,003.00p -0.30%
Next (NXT) 4,349.00p -0.14%
Unilever (ULVR) 4,509.00p -0.03%
Coca-Cola HBC AG (CDI) (CCH) 2,661.00p 0.00%
Sage Group (SGE) 697.50p 0.00%
FTSE 250 - Risers
Beazley (BEZ) 474.80p 5.17%
Lancashire Holdings Limited (LRE) 641.00p 4.91%
Hiscox Limited (DI) (HSX) 1,261.00p 3.43%
Sophos Group (SOPH) 548.50p 2.79%
SIG (SHI) 174.80p 2.51%
Euromoney Institutional Investor (ERM) 1,137.00p 2.43%
ZPG Plc (ZPG) 372.10p 2.41%
Nostrum Oil & Gas (NOG) 390.60p 2.39%
PayPoint (PAY) 940.00p 2.12%
esure Group (ESUR) 263.30p 1.93%
FTSE 250 - Fallers
Carillion (CLLN) 41.61p -5.15%
Fidessa Group (FDSA) 2,020.00p -2.46%
Morgan Advanced Materials (MGAM) 286.40p -2.42%
Marshalls (MSLH) 425.80p -2.32%
Sirius Minerals (SXX) 26.99p -2.22%
Sanne Group (SNN) 792.50p -1.98%
Millennium & Copthorne Hotels (MLC) 457.00p -1.93%
Centamin (DI) (CEY) 153.50p -1.79%
Stobart Group Ltd. (STOB) 297.80p -1.78% |
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| | UK Event Calendar | | The European Central Bank will take centre stage in the coming week with some economists expecting that rate-setters in Frankfurt will further subtly hint that come October it will formally announce a further tapering in its quantitative easing programme, starting in 2018.
Of 63 economists polled by Reuters between 28 and 31 August, almost three-fourths said the ECB would take that step in October.
Nevertheless, the ECB's governing council was likely to continue treading quite carefully, perhaps in part due to recent strength in the euro.
Indeed, on Friday two of its members, Ewald Nowotny and Vitor Constancio signalled as much.
The first said it was important not to over-interpret strength in the single currency, but added that policy normalisation cannot be about "stepping on the brake, and even abruptly stepping on the brake."
Constancio was in a similar frame of mind, talking to an audience about the growing uncertainty in the world economic recovery, especially that in the US.
That, he said, made "the normalisation of inflation and unemployment levels in the euro area more difficult."
Other central banks due to make policy announcements throughout the week included the Reserve Bank of Australia (Tuesday), Bank of Canada (Wednesday) and Sweden's Riksbank (Thursday).
Also on the calendar, ahead of its own next policy meeting, the US Federal Reserve will publish its so-called 'Beige Book', on Wednesday.
Back in the UK, focus will be on Tuesday's services sector PMI for August, courtesy of IHS Markit, alongside manufacturing and industrial data for July at the end of the week.
Also scheduled for release on Thursday is Halifax's house price survey for August. Monday September 04
INTERIMS
Amryt Pharma, Biome Technologies, Curtis Banks Group, Highland Gold Mining Ltd., Johnson Service Group, Michelmersh Brick Holdings, Tax Systems
QUARTERLY PAYMENT DATE
Toro Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (EU) (10:00)
FINALS
Dechra Pharmaceuticals
AGMS
Micro Focus International, Redcentric
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
BT Group, Dekeloil Public Ltd |
| | 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 company'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 open: Insurers pace early gains as Irma fails to meet most dire predictions Stocks are higher as traders unwind some of the 'risk-off' trades put on ahead of the weekend, amid gains for insurers after Hurricane Irma failed to meet the most dire predictions, potentially saving firms in the sector billions of pounds in the process, while a widely-anticipated North Korean missile test failed to materialise.
As of 0818 BST, the benchmark Stoxx 600 was ahead by 0.65% or 2.44 points at 377.93, alongside a gain of 0.75% or 92.89 points to 12,396.87 for Germany's Dax and a 0.78% or 167.27 point advance in Italy's FTSE Mibtel.
Insurers were pacing gains, with the Stoxx 600 sector gauge up by 1.93% to 276.34 as the first reports from the States indicated that the damage from the hurricane had been less worse than feared.
On the geopolitical front, instead of another test missile launch, on 9 September, to mark the country's 'Foundation Day', on Sunday the Hermit Kingdom held a celebration to honour the nuclear scientists and technicians involved in North Korea's sixth and largest nuclear test a week before.
That saw the US dollar recover a tad early on Monday morning, but traders were wary of a negative reaction from Pyongyang should the UN Security Council approve new sanctions against North Korea on Monday evening.
Against that backdrop, Craig Erlam, senior market analyst at Oanda, commented: "The traditional safe havens are coming under some pressure this morning, a partial unwinding of the sizeable flows seen in recent weeks. Gold has come off its highest levels in more than a year this morning, gapping lower on the open in a sign of relief for traders, but still remains a very elevated levels which is representative of the risk environment we still find ourselves in."
The economic calendar for Monday was sparse, with only Italian industrial production for July set for release, at 0900 BST.
Shares of insurers such as Munich Re and Hannover Re were trading higher in the early going as some observers hold out the possibility that damages from Irma may be less worse than initially feared.
Italy's Fiat may spin-off its Magneti Marelli unit if it is unable to find a buyer for the component manufacturer before the close of 2018, Corriere della Sera reported. |
| | 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 close: Stocks end on mixed note as Irma barrels towards Miami, dollar weakens Wall Street finished 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.
By the closing bell , the Dow Jones Industrial Average was 0.06% or 13.01 points higher to 21,797.79, alongside a dip of 0.15% or 3.67 points to 2,461.43 for the S & P 500 while the Nasdaq Composite was lower by 0.59% or 37.68 points to 6,360.19.
In parallel, the US dollar spot index was down to 91.35 points, 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: Non-ferrous Metals (-6.38%), Aluminum (-4.74%) and Industrial metals (-2.31%).
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, according to some 'market chatter'.
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) $119.76 3.98%
Home Depot Inc. (HD) $159.66 1.10%
Boeing Co. (BA) $238.78 1.05%
Goldman Sachs Group Inc. (GS) $217.21 0.63%
3M Co. (MMM) $205.69 0.60%
Pfizer Inc. (PFE) $34.12 0.32%
Coca-Cola Co. (KO) $46.32 0.04%
Caterpillar Inc. (CAT) $117.85 0.04%
Walt Disney Co. (DIS) $97.10 0.01%
E.I. du Pont de Nemours and Co. (DD) $83.93 -0.00%
Dow Jones - Fallers
Apple Inc. (AAPL) $158.63 -1.63%
Wal-Mart Stores Inc. (WMT) $78.93 -1.55%
Intel Corp. (INTC) $35.19 -0.98%
Johnson & Johnson (JNJ) $131.06 -0.92%
Chevron Corp. (CVX) $110.83 -0.91%
Cisco Systems Inc. (CSCO) $31.48 -0.88%
General Electric Co. (GE) $23.82 -0.83%
Microsoft Corp. (MSFT) $73.98 -0.48%
United Technologies Corp. (UTX) $109.55 -0.39%
Nike Inc. (NKE) $52.20 -0.36%
S&P 500 - Risers
XL Group Ltd (XL) $38.62 5.84%
Chubb Corp. (CB) $140.86 4.43%
AbbVie Inc (ABBV) $85.34 4.35%
Leggett & Platt Inc. (LEG) $45.30 4.14%
Travelers Company Inc. (TRV) $119.76 3.98%
Marsh & McLennan Companies Inc. (MMC) $81.96 3.94%
Progressive Corp. (PGR) $45.39 3.84%
Allstate Corp (The) (ALL) $89.61 3.66%
Assurant Inc. (AIZ) $90.77 3.45%
Symantec Corp. (SYMC) $31.63 3.37%
S&P 500 - Fallers
Equifax Inc. (EFX) $123.23 -13.66%
Kroger Co. (KR) $21.06 -7.51%
Range Resources Corp. (RRC) $16.58 -7.43%
Freeport-McMoRan Inc (FCX) $14.24 -6.38%
Chesapeake Energy Corp. (CHK) $3.64 -5.94%
Southwestern Energy Co. (SWN) $5.18 -5.82%
Chipotle Mexican Grill Inc. (CMG) $299.84 -5.43%
Newfield Exploration Co (NFX) $24.79 -5.42%
Murphy Oil Corp. (MUR) $23.46 -5.37%
Alcoa Corporation (AA) $42.61 -4.74%
Nasdaq 100 - Risers
Symantec Corp. (SYMC) $31.63 3.37%
Fastenal Co. (FAST) $42.69 1.81%
Marriott International - Class A (MAR) $103.43 1.64%
Hasbro Inc (HAS) $94.09 1.53%
Shire Plc Ads (SHPG) $160.09 1.44%
PACCAR Inc. (PCAR) $67.60 1.15%
J.B. Hunt Transport Services Inc. (JBHT) $101.84 1.09%
Check Point Software Technologies Ltd. (CHKP) $112.63 1.09%
Dentsply International Inc. (XRAY) $58.45 1.05%
Liberty Interactive Corporation QVC Group (QVCA) $22.68 1.02%
Nasdaq 100 - Fallers
Incyte Corp. (INCY) $129.46 -3.63%
Tesla Inc (TSLA) $343.40 -2.06%
Applied Materials Inc. (AMAT) $44.35 -1.92%
Mattel Inc. (MAT) $15.28 -1.80%
Expedia Inc. (EXPE) $141.41 -1.78%
Liberty Global plc Series C (LBTYK) $31.56 -1.77%
Nvidia Corp. (NVDA) $163.69 -1.73%
Akamai Technologies Inc. (AKAM) $46.00 -1.71%
Baidu Inc. (BIDU) $229.23 -1.69% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Monday newspaper round-up: Consumer spending, PPI, NI's £1bn, hurricane cost Consumer spending is set for its weakest year since 2013 due to inflation and lacklustre wage growth. Expenditure on clothing was down again last month despite retailers promoting back-to-school ranges while spending on transport and communications fell for an eighth consecutive month as shoppers continued to rein in major purchases such as cars. - The Times
The financial regulator will impose stringent measures against banks if they do not handle payment protection insurance complaints adequately before the cut-off in two years. Megan Butler, director of supervision at the Financial Conduct Authority, said that the watchdog would monitor closely how banks managed the expected rise in PPI complaints before the August 2019 deadline. - The Times
Britain's new chief trade negotiator has backed scrapping domestic regulations to get a trade deal in defiance of business leaders and ministers who vowed not to allow a "regulatory race to the bottom". Crawford Falconer, 63, a British-born New Zealander, took up his job last month after a million-pound search for the right candidate to negotiate trade deals after Brexit. - The Times
Parliament will need to approve the release of 1bn in funding for Northern Ireland promised to the Democratic Unionist party by Theresa May to secure its support after the general election, the government has conceded. Challenged by the campaigner Gina Miller about the legal basis for releasing the funds, which have not yet been made available, the Treasury solicitor, who heads the Government Legal Department, said it "will have appropriate parliamentary authorisation", adding: "No timetable has been set for the making of such payments." - Guardian
Ministers are to signal this week that they are prepared to bust the 1% pay cap for police and prison officers, as a first step towards recognising the concerns of cash-strapped workers across the public sector. In a significant shift that was already being claimed as a victory by trade unions on Sunday night, Downing Street has indicated that it is time to consider easing the pay freeze imposed in 2010 by then chancellor George Osborne. - Guardian
The economic cost of Hurricane Irma could rise as high as $300bn (227bn) as the storm lashes Florida, damaging homes, businesses and key crops including orange groves. Analysts said about $2tn of property lay in the storm's path, and also pointed to the potential impact on US food prices. Florida is the second-largest produce grower in the US and the world's second-largest producer of orange juice. - Guardian
Lloyd's of London is braced to absorb an estimated $200 billion of losses from Hurricane Irma, its predecessor Harvey and the forthcoming Jose, with enough reinsurance to divert the bulk of expected claims from underwriters. However, experts say that if sufficient new finance that has flooded into the reinsurance market takes fright and pulls out again, rates across the sector eventually could start to rise - and not merely for those exposed to extreme weather risk. - The Times
The Chinese government has signalled it will join the line of nations queuing up to ban the sale of diesel and petrol vehicles in the coming decades. A senior official has told the Chinese car sector that the industry department in Beijing has begun "research on formulating a timetable to stop production and sales of traditional energy vehicles", according to a report from the state news agency Xinhua. - Telegraph
The City's top lobby group is urging the Government to make sure any laws introduced post-Brexit do not dent demand for Islamic finance as enquiries from banks to set up Shariah-compliant services soar. TheCityUK, which represents Britain's banks and financial institutions, has sent a 32-page report to the UK Government highlighting that assets of UK firms offering Islamic finance services surpassed $5bn (3.8bn) in 2016, up 11pc in two years. - Telegraph
Apple has suffered one of the biggest leaks in its history with details of new iPhones and other devices being revealed. Reports had stated that the technology company's latest phone would be called the iPhone X and two tech websites revealed that two other new handsets - the iPhone 8 and iPhone 8 Plus - would be basic upgrades on the 7 and 7 Plus models featuring glass back panels, a new microprocessing chip and wireless inductive charging. - The Times
The value of bitcoin will be scrutinised by investors around the world after the cryptocurrency plunged by more than 7 per cent on Friday amid rumours that China is planning to shut local exchanges. After breaking through the $5,000 barrier a week earlier, bitcoin slid to as low as $4,241 in late trading in Britain before the weekend. - The Times
Britain's biggest nightclub operator is set to turn up the volume in the bidding for Revolution Bars as it prepares to put a merger proposal on the table. Deltic Group, formerly Luminar, is believed to be close to completing due diligence on the vodka and rum bar business as it seeks to persuade the board of Revolution to switch its recommendation from Stonegate Pub Company. - The Times
One of the biggest veterinary drugs companies has tightened up disclosures in its accounts after a review by the regulator. Although Dechra Pharmaceuticals was not required to restate its accounts, "undertakings were given to enhance certain disclosures in the future in response to the Financial Reporting Council review". - The Times
The finance director of support services firm Carillion is expected to step down on Monday, in a further blow to the beleaguered firm. Zafar Khan, who has been in the post of January, is thought to be stepping down after a period of unprecedented turbulence for the company in which it issued a shock profit warning, sending shares plunging to record lows. - Telegraph
The founder of the Agent Provocateur lingerie business is going to the High Court tomorrow to try to overturn an injunction that prevents anti-fracking protesters from using tactics such as walking slowly in front of lorries and climbing on their roofs. The tactics have caused long delays and cost millions of pounds in extra expenses at Cuadrilla's fracking site in Lancashire. - The Times
A prominent Conservative thinktank is warning Philip Hammond against giving high-paid graduates a handout by cutting the interest rates on student loans in a bid to win over younger voters. The chancellor's autumn budget is regarded by senior Tories as a key moment for the government to demonstrate that it has heard the concerns of voters during the election campaign, when Labour's pledge to slash tuition fees helped boost Jeremy Corbyn's popularity. - Guardian
Emmanuel Macron is bracing for his first showdown on the French streets this week, when the country's biggest public sector union stages a day of strike protests against his labour law. It will be the first of three major street demonstrations in the next two weeks - seen as a litmus test of the scale of resistance to the French president's radical reform agenda, at a time when his approval ratings have slumped. - Telegraph
Small businesses should be given millions of pounds of government backing so that they can provide better support for workers, a new report has proposed, after a pilot scheme suggested that such a move could boost productivity. The People Skills scheme provided free human resources services to small companies in Hackney, Stoke-on-Trent and Glasgow for a year, including face-to-face advice, a telephone helpline, online information and group training events. - The Times
Growing numbers of patients are paying for private treatment to beat rationing and delays for treatment imposed by the cash-strapped NHS. People who do not have health insurance are increasingly paying up to 14,880 for operations such as a hip or knee replacement or cataract removal, a report reveals. - Guardian
Britain is becoming "the sick man of Europe" as life expectancy surges in other countries, analysis shows. One of the world's leading experts has demanded government action over "urgent and deepening problems with the nation's health", as he reveals that the rest of Europe is living ever longer while progress in Britain has stalled. - The Times
London's housing crisis will force workers to live in so-called "micro flats" to avoid being exiled to more affordable commuter towns. With housing in and near the centre of the capital is now so expensive that developers are resorting to building tiny homes in order to meet demand from young professionals, London-based firm U+I is one developer working up plans to build thousands of flats in the capital's centre which are around half of the recommended size, in order to cater for workers who struggle to rent. - Telegraph
A Scottish housebuilder is preparing to make its stock market debut to take advantage of a 1.8bn subsidy plan to build tens of thousands of affordable homes in the next five years. Springfield Properties is seeking to raise up to 25m at a valuation of 55m-65m and list on Aim before the end of the year. It builds a mixture of affordable homes and houses for private sale, concentrating on larger sites across central Scotland. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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