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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: FTSE flat as pound cancels out positive mood London stocks were flat on Tuesday morning as the pound rose against the dollar to counteract positive sentiment after further record highs were posted on Wall Street overnight.
The FTSE 100 index dipped modestly lower initially but after half an hour of trading was just above flat at 7,253.85, with the pound surging back past the 1.35 level with a 0.3% rise against the dollar and flat on the euro to 1.1289.
After sterling suffered a slight hangover the previous day after its strongest weekly performance in eight years last week, Tuesday saw currency traders looking towards the US Federal Reserve as it begins its two-day meeting ahead of a policy announcement on Wednesday as well as mulling an overnight speech at the International Monetary Fund from Bank of England governor Mark Carney.
Carney "didn't deviate too much from last week's script about the potential for an increase in rates, though he did stress that Brexit could prompt a period of higher prices as the economy adapts to a slightly more restrictive outlook as trade relationships change over the coming years", said analyst Michael Hewson at CMC Markets.
"To guard against this it appears that the Bank of England is looking to mitigate some of the impact of higher prices by helping put a floor under the pound in seeking to keep pace with other central banks attempts to start the paring back of their own stimulus packages."
Ipek Ozkardeskaya, an analyst at London Capital Group, noted that pre-Fed announcement the US dollar had swinging between the bulls and the bears.
"Analysts expect the Fed to keep the possibility of a December interest rate hike on the table. There could be discussions on the balance sheet normalisation as well."
The probability of a December rate hike rose to 50%, which Ozkardeskaya said was too low to trigger a panic across the stock markets yet too high to be ruled out by the currency and money markets.
For macro data, we will need to look overseas, where the latest German ZEW economic sentiment survey for September is expected to improve slightly to 12.3, after the surprise slump seen in August.
In the UK, Kantar Worldpanel released data on the food retail industry where sales were shown to have risen 3.6% in the 12 weeks to 10 September, the sixth consecutive period in which sales rose by more than 3% but down slightly from the 4% announced in August. Sainsbury's was among the top risers, with Morrisons not far behind and Tesco up by not much.
Online grocery specialist Ocado was trading lower despite reported a slight acceleration of growth in the third quarter of the year. In the 13 weeks to 27 August, the FTSE 250 group generated 13.1% growth in retail sales from its own websites to £312.7m, up from the 12.5% increase in the first half of the year.
Medical products and technology company ConvaTec announced the European introduction of its new "intermittent catheter".
GlaxoSmithKline announced that the US Food and Drug Administration has approved once-daily, single inhaler triple therapy under the brand name Trelegy Ellipta, for the long-term, once-daily, maintenance treatment of patients with chronic obstructive pulmonary disease. |
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| Market Movers
FTSE 100 (UKX) 7,250.61 -0.04%
FTSE 250 (MCX) 19,477.30 0.20%
techMARK (TASX) 3,418.85 0.01%
FTSE 100 - Risers
Ferguson (FERG) 4,663.00p 1.95%
3i Group (III) 933.00p 1.19%
Sainsbury (J) (SBRY) 239.60p 1.10%
Marks & Spencer Group (MKS) 332.00p 1.03%
Kingfisher (KGF) 297.20p 1.02%
HSBC Holdings (HSBA) 725.80p 0.99%
Smiths Group (SMIN) 1,609.00p 0.94%
Lloyds Banking Group (LLOY) 65.80p 0.77%
Royal Mail (RMG) 375.70p 0.75%
easyJet (EZJ) 1,219.00p 0.74%
FTSE 100 - Fallers
Coca-Cola HBC AG (CDI) (CCH) 2,536.00p -1.55%
Antofagasta (ANTO) 944.00p -1.00%
Diageo (DGE) 2,485.00p -0.90%
BT Group (BT.A) 285.05p -0.89%
Compass Group (CPG) 1,606.00p -0.86%
Paddy Power Betfair (PPB) 7,085.00p -0.84%
Fresnillo (FRES) 1,415.00p -0.77%
Anglo American (AAL) 1,286.50p -0.77%
Associated British Foods (ABF) 3,167.00p -0.72%
British American Tobacco (BATS) 4,675.00p -0.62%
FTSE 250 - Risers
CLS Holdings (CLI) 209.00p 3.57%
Stagecoach Group (SGC) 163.80p 2.89%
Tullow Oil (TLW) 160.40p 2.10%
Dunelm Group (DNLM) 642.00p 1.99%
Cineworld Group (CINE) 629.00p 1.86%
Carillion (CLLN) 43.25p 1.76%
Sophos Group (SOPH) 564.50p 1.71%
Indivior (INDV) 304.70p 1.60%
SIG (SHI) 181.30p 1.51%
Evraz (EVR) 300.40p 1.35%
FTSE 250 - Fallers
Ocado Group (OCDO) 284.20p -5.89%
Petra Diamonds Ltd.(DI) (PDL) 76.50p -3.47%
Softcat (SCT) 391.00p -2.49%
Kaz Minerals (KAZ) 739.50p -2.25%
Euromoney Institutional Investor (ERM) 1,131.00p -2.08%
Hill & Smith Holdings (HILS) 1,226.00p -1.84%
NMC Health (NMC) 2,707.00p -1.60%
Redefine International (RDI) 37.22p -0.91%
Spire Healthcare Group (SPI) 248.00p -0.88% |
| | UK Event Calendar | | Tuesday September 19
INTERIMS
Anpario, Augean, Bango, DP Eurasia N.V. (DI) , Escher Group Holdings, Flowgroup, Gulf Keystone Petroleum Ltd Com Shs (DI), Gulf Marine Services, Judges Scientific, Keywords Studios, Maxcyte (DI), NAHL Group, Sinclair Pharma, Yu Group
INTERIM DIVIDEND PAYMENT DATE
London Stock Exchange Group, Mondi
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Current Account (EU) (09:00)
Current Account (US) (13:30)
Housing Starts (US) (13:30)
Import and Export Price Indices (US) (13:30)
FINALS
Eagle Eye Solutions Group, Purecircle Limited (DI)
AGMS
ECO Animal Health Group, Enteq Upstream, HML Holdings, Leeds Group, Marlowe, Miton Global Opportunities, Safeland
TRADING ANNOUNCEMENTS
Ocado Group
|
| | 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 |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks dip ahead of US Fed Stocks have begun the morning slightly higher ahead of a speech by US president Donald Trump at the United Nations and a monetary policy meeting at that country's central bank.
At of 0931 BST, the benchmark Stoxx 600 was off by 0.20% or 0.77 points at 381.88, alongside a dip of 0.18% or 22.10 points to 12,537.54, while the Cac-40 was lower by 0.11% or 5.90 points at 5,223.46.
In parallel, euro/dollar was advancing 0.30% to 1.1988.
In his speech at the UN headquarters, in New York, Trump was expected to call for other nations to support tougher sanctions being levied against the North Korean regime and to take aim at Iran's own nuclear programme.
"The latest geopolitical situation appears to have settled down for now but with President Trump set to speak at the United Nations later today it wouldn't be too much of a surprise if North Korea decided to send him a message so to speak, perhaps in the form of another missile test. While the rhetoric appears to have settled down a touch it probably wouldn't take much to set it all off again," commented CMC Markets's Michael Hewson.
Regarding the Federal Reserve's deliberations, by and large analysts expected rate-setters in Washington DC to announce the start of their balance sheet taper but there was far less unanimity when it came to what the Fed's exact guidance on interest rates in 2018 might be.
For their part, analysts at Barclays Research expected the Fed's so-called 'dot-plot' to be consistent with one further interest rate hike in 2017 and two more in the following year.
As of Tuesday morning, Fed funds futures were assigning odds of roughly 56.9% to a December 2017 hike.
Back in Europe, but still on the economic front, the ZEW institute's economic sentiment gauge for Germany increased by 7.0 points in September to reach 17.0 (consensus: 12.0).
Construction output in the single currency was up by 0.2% in July, Eurostat said.
The Eurozone's seasonally-adjusted current account surplus rose from €22.8bn in June to €25.1bn for July, according to the ECB.
German chemicals giant BASF agreed to purchase rival Solvay's Polyamide unit for €1.6bn.
IAG has joined the fray for all or part of bankrupt German peer Air Berlin, according to a report that was later confirmed to Digital Look by a spokesperson at the British Airways owner.
Mexico's FEMSA sold a 5.24% stake in Heineken valued at €2.5bn. |
| | US Market Report | | US close: Stocks mixed as investors look towards FOMC Wall Street finished mixed on Monday as worries about North Korea receded with investors looking ahead to the latest policy announcement from the Federal Reserve on Wednesday.
The Dow Jones Industrial Average ended the session 0.28% higher at 22,331.35 and the S&P 500 was ahead 0.15% at 2,503.87, while the Nasdaq 100 lost 0.11% to 5,981.12.
On Friday, US stocks notched further all-time highs, with the S&P 500 closing above 2,500 for the first time.
The Fed will conclude its two-date policy meeting on Wednesday. Although no change is expected to interest rates, the US central bank is expected to start laying the foundations to unwind its $4.5trn balance sheet.
"The Fed will leave rates unchanged this month but the real interest for investors is whether they will announce their intention to start normalising their balance sheet by not reinvesting the profits from their bond purchases," said Konstantinos Anthis at ADS Securities.
"Taking this step would count as a policy tightening initiative - as the Fed would reduce the amount of money they spent on asset purchases - and would further highlight their bullish view over the progress of the economy.
"Furthermore investors and speculators will be equally interested to hear what Fed Chairwoman Janet Yellen has to say about the prospect of another rate hike before the year is out."
In corporate news, Northrop Grumman and Orbital ATK were in the spotlight after the former announced an agreement to buy its rival in a deal valued at around $7.8bn or $9.2bn if debt is included, for a 22% premium.
Shares in Northrop Grumman were ahead 3.35%, and Orbital ATK stock surged 20.18%.
Teva Pharmaceuticals was also in the news, finishing 6.13% lower after saying it would sell its women's health assets for $1.38bn in order to reduce its debt pile.
Dow Jones - Risers
General Electric Co. (GE) $24.46 2.21%
Caterpillar Inc. (CAT) $123.83 2.03%
Boeing Co. (BA) $253.12 1.64%
JP Morgan Chase & Co. (JPM) $92.92 1.42%
Goldman Sachs Group Inc. (GS) $227.39 1.03%
American Express Co. (AXP) $87.87 1.01%
Johnson & Johnson (JNJ) $135.38 0.69%
Pfizer Inc. (PFE) $35.54 0.54%
Chevron Corp. (CVX) $115.19 0.49%
Verizon Communications Inc. (VZ) $48.09 0.48%
Dow Jones - Fallers
Apple Inc. (AAPL) $158.67 -0.76%
Nike Inc. (NKE) $53.49 -0.69%
Wal-Mart Stores Inc. (WMT) $80.00 -0.47%
Visa Inc. (V) $104.83 -0.45%
Walt Disney Co. (DIS) $98.10 -0.43%
Home Depot Inc. (HD) $157.81 -0.37%
United Technologies Corp. (UTX) $112.77 -0.27%
Merck & Co. Inc. (MRK) $65.99 -0.26%
Microsoft Corp. (MSFT) $75.16 -0.20%
International Business Machines Corp. (IBM) $144.55 -0.19%
S&P 500 - Risers
CF Industries Holdings Inc. (CF) $35.10 6.72%
Southwestern Energy Co. (SWN) $6.03 4.15%
Nvidia Corp. (NVDA) $187.55 4.13%
NRG Energy Inc. (NRG) $23.84 3.97%
Northrop Grumman Corp. (NOC) $275.91 3.35%
Range Resources Corp. (RRC) $19.15 3.24%
Mosaic Company (MOS) $21.31 3.15%
Huntington Bancshares Inc. (HBAN) $13.09 2.59%
Lam Research Corp. (LRCX) $177.31 2.50%
Parker-Hannifin Corp. (PH) $173.62 2.32%
S&P 500 - Fallers
Mattel Inc. (MAT) $14.87 -6.24%
Tenet Healthcare Corp. (THC) $15.71 -6.04%
Bed Bath & Beyond Inc. (BBBY) $27.30 -4.78%
Frontier Communications Co. (FTR) $12.52 -4.57%
First Solar Inc. (FSLR) $48.54 -3.79%
Chipotle Mexican Grill Inc. (CMG) $301.74 -3.58%
CenturyLink Inc. (CTL) $18.32 -3.48%
Signet Jewelers Ltd (SIG) $67.47 -3.23%
Cerner Corp. (CERN) $69.31 -3.04%
Endo International Plc (ENDP) $8.34 -3.02%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $293.30 8.20%
Nvidia Corp. (NVDA) $187.55 4.13%
Lam Research Corp. (LRCX) $177.31 2.50%
Mercadolibre Inc. (MELI) $289.75 2.49%
KLA-Tencor Corp. (KLAC) $100.91 2.30%
Micron Technology Inc. (MU) $35.43 2.25%
Xilinx Inc. (XLNX) $69.70 2.00%
Idexx Laboratories Inc. (IDXX) $162.10 1.97%
Applied Materials Inc. (AMAT) $48.05 1.93%
Baidu Inc. (BIDU) $239.07 1.64%
Nasdaq 100 - Fallers
Mattel Inc. (MAT) $14.87 -6.24%
Cerner Corp. (CERN) $69.31 -3.04%
Tractor Supply Company (TSCO) $61.35 -2.87%
Discovery Communications Inc. Class A (DISCA) $21.32 -2.83%
Discovery Communications Inc. Class C (DISCK) $20.14 -2.42%
Henry Schein Inc. (HSIC) $80.89 -2.40%
Twenty-First Century Fox Inc Class B (FOX) $26.03 -2.33%
Liberty Global Plc Lilac Class A (LILA) $24.43 -2.16%
Alexion Pharmaceuticals Inc. (ALXN) $143.64 -2.08% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Tuesday newspaper round-up: FCA debt warning, Hurricane Maria, Trump at the UN The government needs to step in to help tackle the mountain of debt being racked up by the most vulnerable consumers in Britain, the chief financial regulator has warned, as new data shows that personal debt burdens are continuing to rise. New figures seen by the Guardian showed the worsening consequences of Britain's borrowing binge. According to the Money Advice Service, there are now 8.3 million people in the UK with problem debts. - Guardian
Donald Trump will use his first address to the UN general assembly on Tuesday to call for international action to confront North Korea and Iran, which he will portray as twin threats to global security, the White House said. The US president will warn member states that they risk being "bystanders in history" if they do not mobilise to confront such threats, according to a senior White House official. - Guardian
Germany's powerful trade chief has dismissed Brexit as pipe-dream that will never happen, insisting that markets remain calm only because investors are entirely discounting the political noise from Westminster. "Brexit is just talk so far. I doubt it will ever happen," said Anton Börner, president of the German federation of trade and services (BGA) and voice of the country's exporting interests. - Telegraph
The Caribbean island of Dominica has been "brutalised and devastated" by category 5 Hurricane Maria, the prime minister of the country has said. The eyewall of the hurricane barrelled into Dominica's eastern coast on Monday evening, crossing towards the former British colony's capital, Roseau, on the south-west side. - Guardian
A funding crisis in social housing will continue unless the government "breaks with the past" to provide financial backing for new affordable homes, the head of an influential housing sector body will say today. Billions of pounds of taxpayers' money could be saved by building social housing instead of channelling housing benefit to private landlords, David Orr, chief executive of the National Housing Federation, will tell the organisation's annual conference. - The Times
Ryanair has written to 400,000 passengers to tell them that their flight has been cancelled after it admitted to a "mess-up" on pilot rostering that left 18 million ticket holders wondering if their holiday plans would be ruined. In a hastily arranged press conference in Dublin on Monday afternoon amid a passenger revolt and a slump in the company's share price, the normally combative chief executive Michael O'Leary apologised "unreservedly" for "a mess of our own making". - Guardian
Google has angered online shopping websites with what they say is a derisory offer to alter its search results in Europe. The internet giant, which was fined €2.4bn (£2.1bn) by the EU in June for exploiting the power of its search engine to promote its separate online shopping service, has proposed a set of changes that it hopes will see the company avoid further fines. However, the offer, which has not yet been made public, has been attacked by online shopping sites, who say the changes would simply see Google take all of the industry's profits. - Telegraph
The Royal Bank of Scotland will not be forced to sell 300 branches that it had planned to spin off under its Williams and Glyn brand, the European Commission has said, marking a significant win for boss Ross McEwan after more than eight years of uncertainty. The bank had been trying to sell W&G since 2009, as it was one of the conditions the EU set in return for approving the Government's 2008 £45.5bn bail-out. - Telegraph
The Conservative electoral consultants Sir Lynton Crosby and Jim Messina won't forget in a hurry just how wrong their predictions were for this year's general election. However, the two remain firm believers in their methods and are bringing to the corporate world the kind of customer profiling that they have previously produced for politicians. Outra, a new digital marketing company backed by them, aims to combine publicly available data on consumer behaviour with deeply personalised polling data on customer preferences to help retailers and other companies. - The Times
The Gates Foundation has agreed to invest up to $40 million in one of the UK's most promising biotech companies to support its development of immunotherapies for infectious diseases. The investment from the world's richest man in Immunocore comes two years after the privately owned, Abingdon-based company raised $320 million in the biggest private financing for a life sciences business in Europe. - The Times
The countryside is facing a shortfall of 33,000 affordable homes over the next five years despite builders making record profits at a time of rising rural homelessness. Profits at Britain's three biggest builders have quadrupled since 2012 to £2.2 billion, yet they regularly cite financial constraints when cutting affordable homes in developments. Builders miss targets for affordable homes in the countryside by 18 houses a day, research by the Campaign to Protect Rural England (CPRE) shows. - The Times
Shoppers across the country could soon be paying for goods using only their fingers as British start-up Sthaler begins its roll-out into convenience stores and entertainment venues. The brand, which is run by former music industry executive Nick Dryden, has signed deals with a number of retailers in the UK and with a major bank in Denmark to roll the product out across a variety of shops, restaurants and bars. - Telegraph
A British tech start-up aims to raise tens of millions of pounds to build a complete map of parking spaces to allow driverless cars to find a spot and put wardens out of business. AppyParking, founded in 2013, has raised £2.25m from two early stage investors in preparation for a much bigger funding round next year. - Telegraph
Seldom has the term "dirty money" been more appropriate. The discovery of tens of thousands of euros flushed down Geneva toilets has left detectives perplexed. Bundles of shredded €500 notes were discovered blocking toilets near the safe-deposit room of a branch of the UBS bank, and also in the lavatories of three nearby restaurants. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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