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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 edge higher ahead of data avalanche London stocks edged higher in early trade on Friday as investors awaited a deluge of data releases, including the final reading of second-quarter UK GDP.
At 0830 BST, the FTSE 100 was up 0.2% to 7,340.32, while the pound was down 0.3% versus the dollar at 1.3400.
The final reading of second-quarter gross domestic product, mortgage approvals, consumer credit, net lending and M4 money supply are due at 0930 BST.
A final reading on UK GDP for the second quarter is forecast to remain unchanged at a flaccid 0.3%, while the second quarter current account deficit is set to come in at £15.8bn, an improvement on the £16.9bn from the first.
"The UK is the site of the most intriguing figures this morning," said Spreadex analyst Connor Campbell.
"The potentially varying quality of this data, alongside the mixed Brexit messages from David Davis and Michel Barnier yesterday, and news that London house prices have fallen for the first time since 2009, dragged the pound lower after the bell."
Market participants were also digesting the latest survey from GfK, with its consumer confidence index rising a point to -9, up from a negative balance of -10 in August and building on an upward shift of two points in July.
Confidence in personal finances, current and future, slipped this month but retail sales in the UK continue to grow despite non-food prices increasing at their highest rate for 25 years, said GfK's head of market dynamics, Joe Staton.
"Consumers appear to be in a mixed mood - with some confidence measures up and others down - yet there's a strong note of defiance," Staton said.
Homeowners were more focused on the data from Nationwide, which showed price growth in the UK remained broadly stable in September, but prices in London fell for the first time in eight years.
The annual rate of house price growth remained broadly stable in September at 2.0%, compared with 2.1% in August, beating expectations for a 1.9% increase. However, London prices were down 0.6% year-on-year, making the capital the weakest performing region for the first time since 2005.
On the month, UK house prices grew 0.2% compared with a 0.1% decline in August, beating expectations for a 0.1% gain.
Nationwide's chief economist, Robert Gardner, said: "Housing market activity, as measured by the number of housing transactions and mortgage approvals, has strengthened a little in recent months, though remains relatively subdued by historic standards.
In corporate news, insurer Beazley was on the front foot despite warning that early estimates of the net cost of Atlantic hurricanes Harvey, Irma and Maria and earthquakes in Mexico was $175m - $275m (£130m - £205m) and would cut 2017 earnings by about $150m.
QinetiQ surged after it issued a short trading update before entering its closed period for the half year to 30 September, confirming trading was in line with expectations and the outlook for overall group performance this financial year was unchanged.
Aviva advanced as it agreed to sell its stake in Italian joint venture Avipop Assicurazioni to Banco BPM for €265m (£233m) in cash.
Sanne rallied after entered into an agreement to buy Luxembourg Investment Solutions (LIS) and Compliance Partners for up to €100m.
John Laing edged up after it announced a further wind farm investment in the state of Texas, and its third investment in the renewable energy sector in the US.
Pennon and Laing were also in focus as they said the completion of the Greater Manchester waste agreement has now been finalised.
On the downside, Carillion shares tumbled after the construction and outsourcing group warned that full-year results would be below market forecasts as it posted a first-half loss of £1.15bn compared to a profit of £84m the year before.
Sirius Minerals retreated despite saying it remains on time and on budget as it develops its massive Woodsmith polyhalite fertiliser mine under the Yorkshire Moors.
In broker note action, ITV was boosted by an upgrade to 'overweight' at Barclays, but Countryside Properties was hit by a downgrade to 'neutral' from 'overweight' at JPMorgan Cazenove. |
| | 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) 7,340.32 0.24%
FTSE 250 (MCX) 19,708.78 0.15%
techMARK (TASX) 3,468.70 0.27%
FTSE 100 - Risers
ITV (ITV) 172.60p 2.31%
Glencore (GLEN) 344.40p 1.62%
Antofagasta (ANTO) 942.00p 1.45%
Anglo American (AAL) 1,322.00p 1.30%
Persimmon (PSN) 2,557.00p 1.11%
Rio Tinto (RIO) 3,454.50p 1.10%
easyJet (EZJ) 1,214.00p 1.08%
BHP Billiton (BLT) 1,318.00p 0.96%
Direct Line Insurance Group (DLG) 364.50p 0.86%
Burberry Group (BRBY) 1,747.00p 0.81%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 1,461.00p -2.40%
Micro Focus International (MCRO) 2,370.00p -0.75%
Standard Chartered (STAN) 734.60p -0.61%
Next (NXT) 5,230.00p -0.48%
Royal Bank of Scotland Group (RBS) 265.20p -0.45%
International Consolidated Airlines Group SA (CDI) (IAG) 592.50p -0.34%
Pearson (PSON) 604.00p -0.33%
Centrica (CNA) 186.50p -0.27%
Shire Plc (SHP) 3,769.00p -0.24%
Lloyds Banking Group (LLOY) 67.09p -0.19%
FTSE 250 - Risers
QinetiQ Group (QQ.) 253.90p 8.78%
Kaz Minerals (KAZ) 750.50p 2.67%
Redrow (RDW) 592.00p 2.42%
Big Yellow Group (BYG) 766.50p 2.34%
Hochschild Mining (HOC) 223.80p 1.91%
Bovis Homes Group (BVS) 1,090.00p 1.87%
Centamin (DI) (CEY) 141.20p 1.73%
Galliford Try (GFRD) 1,333.00p 1.60%
Vedanta Resources (VED) 859.50p 1.54%
ZPG Plc (ZPG) 364.40p 1.45%
FTSE 250 - Fallers
Countryside Properties (CSP) 333.50p -2.34%
Jardine Lloyd Thompson Group (JLT) 1,178.00p -2.32%
IP Group (IPO) 127.40p -2.15%
Ted Baker (TED) 2,576.00p -1.90%
Computacenter (CCC) 960.50p -1.84%
Polypipe Group (PLP) 412.40p -1.65%
Inmarsat (ISAT) 630.50p -1.18%
Sirius Minerals (SXX) 25.25p -1.02%
Spire Healthcare Group (SPI) 223.10p -0.62% |
| | UK Event Calendar | | Friday September 29
INTERIMS
Styles & Wood Group, Zegona Communications
INTERIM DIVIDEND PAYMENT DATE
Aberdeen Emerging Markets Investment Company, Arbuthnot Banking Group, Ascential, British Smaller Companies VCT 2, Capital & Counties Properties , Centamin (DI), CLS Holdings, Elderstreet VCT, Elementis, F&C UK Real Estate Investments Limited, Foresight VCT, Global Ports Holding, Juridica Investments Ltd., Meggitt, Millennium & Copthorne Hotels, Octopus AIM VCT 2, Polymetal International, Rights & Issues Inv Trust Income Shares, Secure Trust Bank, SEGRO, St James's Place, The Gym Group, Trinity Mirror
QUARTERLY PAYMENT DATE
HICL Infrastructure Company Ltd, Honeycomb Investment Trust, NextEnergy Solar Fund Limited Red, Premier Energy & Water Trust, The Renewables Infrastructure Group Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
Import Price Index (GER) (07:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
U. of Michigan Confidence (US) (15:00)
FINALS
CVS Group
EGMS
Novolipetsk Steel GDS (Reg S), Starwood European Real Estate Finance Ltd
AGMS
IMImobile , KSK Power Ventur, Legendary Investments, OPG Power Ventures, Purplebricks Group, Torotrak, Trafalgar New Homes, Vale International Group Ltd (DI)
TRADING ANNOUNCEMENTS
Purplebricks Group
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
Index of Services (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
FINAL DIVIDEND PAYMENT DATE
Auto Trader Group , BCA Marketplace, Clipper Logistics , Downing Four VCT DP67 , Downing Four VCT DSO 'D' Shs, Filta Group Holdings, First Property Group, NCC Group, Safeland, Van Elle Holdings |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Markets extend gains as investors take cues from Asia, US European shares opened higher on Friday as investors followed the positive sentiment in Asia and the US.
The UK's FTSE 100, Germany's Dax and France's CAC-40 were all in positive territory after record gains on Wall Street.
US equity markets closed mostly positive overnight as investors continued to digest President Trump's framework for tax reform.
The main focus for the eurozone region on Friday was the flash inflation figure for September, with analysts forecasting a rise from 1.5% to 1.6% month-on-month; if accurate, that could see the euro's gains against the pound joined by some growth against the dollar, said Connor Campbell at Spreadex.
Crude Oil prices were still under pressure after three straight days of falls as Brent and US crude prices were subject to profit taking.
Gold was steady, having traded off Thursday's one-month low as the US dollar retreated from five-week highs.
"While it has retreated from its overnight highs of $1289, the precious metal is holding above support at $1284," said analysts at Accendo Markets.
In France, inflation was up slightly to 1% in September after a 0.9% rise in August. Consumer spending in the country fell an unexpected 0.3% on month, the national statistic agency Insee said.
Investors were also looking ahead to events in Spain where the illegal referendum on Catalonian independence was due to take place.
"The potential impact would be on the country's bonds unless the county's PM manages to stop the vote. The Spanish equity markets had outperformed the European peers so far this year but the recent illegal referendum situation has taken the toll on the IBEX index," said Naeem Islam at Thinkmarkets.
Ipek Ozkardeskaya at LCG said a vote in favour of independence could weigh on the European integrity sentiment and hit the euro at next week's open.
"In addition, the government's reaction is important. Protests, a heavy-handed police intervention and political unrest could affect the euro-appetite in the aftermath of the Sunday's referendum. On the other hand, a no vote should give a better colour to the single currency. Given the light risk pricing across the euro markets, the rally could remain short-lived," she said.
In corporate news, QinetiQ said trading had been in line with expectations, and the outlook for overall group performance for the financial year remained unchanged. |
| | US Market Report | | US close: Markets make mild gains amid continued tax chat Markets in the US made mild gains on Thursday, with the Trump administration's proposed tax reforms still giving investors a bit of an appetite a day after they were revealed.
The Dow Jones Industrial Average finished up 0.18% at 22,381.20, the S&P 500 added 0.12% to 2,510.06 and the Nasdaq Composite was flat at 6,453.45.
Republicans revealed their proposed tax reforms on Wednesday, with corporate tax set to be cut to 20% from 35%, and the top personal federal tax rate to be lowered to 35%.
Not everyone on the Street was placing their bets on whether the reforms would be pushed through in any sort of timely manner, however, given the President's troubles with immigration and healthcare legislation thus far.
"We shall wait and see how Trump's plans evolve into legislation," noted Deutsche Bank strategist Jim Reid.
"Our US team's early take is that they see a prospect of some reforms occurring at the corporate level - particularly for small corporates - but the potential for substantive reform of personal tax is much lower."
On the economic front, jobless claims were up 12,000 in the last week according to fresh data, although it was largely seen as a spike in the wake of Hurricanes Harvey and Irma.
The two storms have left parts of Texas and Florida devastated.
Second quarter economic growth was also revised, up to 3.1% from 3% during the session.
On the corporate front, McDonald's Corporation led the blue-chips on the Dow, rising 2.23%, while Eastman Chemical Company was the leader on the S&P benchmark, finishing 2.99% ahead.
Streaming device maker Roku, which sells smart television gadgets, rocketed ahead 67.86% in its debut after its IPO was priced at $14 on Wednesday.
Ailing mobile technology company BlackBerry was up 13.43%, after it surprised investors by beating revenue and earnings forecasts.
Exa Corporation was up 42.57%, after French software maker Dassault Systemes announced it was acquiring the simulation developer in a $400m cash deal.
Dow Jones - Risers
McDonald's Corp. (MCD) $157.49 2.23%
Exxon Mobil Corp. (XOM) $82.20 0.93%
Home Depot Inc. (HD) $162.35 0.89%
Unitedhealth Group Inc. (UNH) $196.10 0.83%
Intel Corp. (INTC) $37.83 0.77%
American Express Co. (AXP) $90.14 0.73%
Visa Inc. (V) $104.58 0.66%
Coca-Cola Co. (KO) $44.89 0.60%
Caterpillar Inc. (CAT) $125.20 0.57%
Pfizer Inc. (PFE) $35.60 0.42%
Dow Jones - Fallers
Walt Disney Co. (DIS) $98.04 -1.20%
United Technologies Corp. (UTX) $115.84 -1.14%
Apple Inc. (AAPL) $153.28 -0.62%
General Electric Co. (GE) $24.23 -0.53%
Merck & Co. Inc. (MRK) $64.27 -0.43%
Wal-Mart Stores Inc. (WMT) $78.90 -0.43%
Boeing Co. (BA) $254.27 -0.40%
Cisco Systems Inc. (CSCO) $33.35 -0.39%
Johnson & Johnson (JNJ) $129.41 -0.22%
Verizon Communications Inc. (VZ) $49.40 -0.20%
S&P 500 - Risers
McCormick & Co. (MKC) $101.63 5.39%
AbbVie Inc (ABBV) $88.95 4.97%
Applied Materials Inc. (AMAT) $50.62 3.64%
Owens-Illinois Inc. (OI) $25.22 3.28%
Freeport-McMoRan Inc (FCX) $14.42 3.00%
Eastman Chemical Co. (EMN) $89.96 2.99%
XL Group Ltd (XL) $39.10 2.95%
Abbott Laboratories (ABT) $53.63 2.86%
GGP Inc (GGP) $21.28 2.80%
Micron Technology Inc. (MU) $37.96 2.35%
S&P 500 - Fallers
Endo International Plc (ENDP) $8.15 -9.85%
Navient Corporation (NAVI) $14.92 -3.93%
TripAdvisor Inc. (TRIP) $40.46 -3.53%
Gilead Sciences Inc. (GILD) $80.91 -3.52%
Range Resources Corp. (RRC) $19.72 -3.38%
Mylan Inc. (MYL) $30.86 -3.35%
Twenty-First Century Fox Inc Class B (FOX) $26.01 -2.84%
Twenty-First Century Fox Inc Class A (FOXA) $26.56 -2.78%
Hanesbrands Inc. (HBI) $24.50 -2.78%
Interpublic Group of Companies Inc. (IPG) $20.68 -2.78%
Nasdaq 100 - Risers
Applied Materials Inc. (AMAT) $50.62 3.64%
Incyte Corp. (INCY) $113.14 2.57%
Micron Technology Inc. (MU) $37.96 2.35%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $53.65 1.55%
Marriott International - Class A (MAR) $110.00 1.51%
American Airlines Group (AAL) $47.49 1.37%
Lam Research Corp. (LRCX) $181.82 1.35%
Monster Beverage Corp (MNST) $55.48 1.09%
Broadcom Limited (AVGO) $242.94 0.98%
Ctrip.Com International Ltd. Ads (CTRP) $52.82 0.96%
Nasdaq 100 - Fallers
Gilead Sciences Inc. (GILD) $80.91 -3.52%
Mylan Inc. (MYL) $30.86 -3.35%
Liberty Interactive Corporation QVC Group (QVCA) $23.37 -3.31%
Twenty-First Century Fox Inc Class B (FOX) $26.01 -2.84%
Twenty-First Century Fox Inc Class A (FOXA) $26.56 -2.78%
JD.com, Inc. (JD) $38.65 -2.67%
Liberty Global plc Series A (LBTYA) $33.17 -2.56%
Liberty Global plc Series C (LBTYK) $32.05 -2.49%
Western Digital Corp. (WDC) $86.71 -2.27% |
| | Newspaper Round Up | | Friday newspaper round-up: Business confidence, Brexit, chicken scandal, BT Business confidence is rising but still at its second-lowest level this year, according to the latest survey from Lloyds Bank's business barometer. Britain's biggest high street lender said that the reading rose by six points this month to 23 per cent. Economic confidence among businesses surveyed rose by 7 points to 12 per cent, though this was also at the second-lowest level this year. - The Times
Consumers have defied expectations that their economic confidence would falter and cause a slowdown in spending, according to figures released today. The GfK consumer confidence index rose a point to -9, up from a negative balance of -10 in August and building on an upward shift of two points in July. - Telegraph
The Brexit negotiations could be in a stalemate for months unless the UK agrees to honour all its financial commitments, the EU's chief negotiator has suggested at the end of the latest round of talks. A "new dynamic" had been created by Theresa May's speech in Florence last week, Michel Barnier said during a press conference with the Brexit secretary, David Davis. - Guardian
The largest supplier of chicken to UK supermarkets has been tampering with food safety records in moves that could dupe consumers into buying meat past its use-by date. An investigation by the Guardian and ITV News recorded undercover footage of workers altering the slaughter date of poultry being processed at a 2 Sisters Food Group plant. The group produces a third of all poultry products eaten in the UK and supplies top grocers including Tesco, Sainsbury's, Marks & Spencer, Aldi and Lidl. - Guardian
Tensions between the United States and North Korea are now so high that war is "a real possibility" that Britain must prepare for, a respected defence think tank has warned. Such a conflict would result in "hundreds of thousands" of casualties, severely disrupt the global economy, and have profound implications for the political and diplomatic landscape of East Asia, the report for the Royal United Services Institute said. - Telegraph
The end to almost fifty years of Brussels protectionism this weekend is set to shake up Britain's sugar industry - with the potential for boom or bust for producers. But there's a sweetener for consumers, as prices are expected to fall. The European Union is abolishing its system of quotas and minimum pricing for sugar from Sunday 1 October, in one of the biggest changes for British agriculture in recent years that sugar beet growers and AB Foods' refiner British Sugar expect to allow them to increase production by 50% annually. - Guardian
Ryanair has been ordered to tell hundreds of thousands of passengers how it proposes to provide alternatives to cancelled flights by 5pm on Friday. As criticism of the Ryanair's treatment of affected passengers intensified, the aviation regulator told the Irish airline to explain how it will reroute passengers and email all those affected by Wednesday to explain their options. - Guardian
BT could be forced to stump up an extra £2 billion over the next two years to reduce its growing pension deficit, posing a cashflow problem for the telecom group, a leading credit rating agency has warned. Moody's said that the extra cash needed to plug the gap in its pension fund - Britain's largest private sector scheme - would have a negative impact on the group's overall credit rating, which has already been cut repeatedly. - The Times
The future of Ford's Bridgend plant has been thrown into further doubt after luxury car maker Jaguar Land Rover revealed it was bringing forward the end of a contract to produce engines at the Welsh site. JLR, the UK's biggest car producer, will terminate its contract with Ford "slightly earlier than expected" in 2020, the US car giant said. It is thought the deal will now end in September 2020, as opposed to December of that year. - Telegraph
The Government's flagship welfare reforms have been thrown into jeopardy after 12 Conservative MPs wrote a private letter to the Work and Pensions Secretary demanding a pause in the roll-out of Universal Credit. The Telegraph understands that the 12 MPs, led by Heidi Allen, have warned David Gauke not to go ahead with a planned tenfold increase in the roll-out of Universal Credit.
Brompton has recalled three years' worth of fold-up bikes due to faulty brackets, an issue its chief executive said he has been aware of for three months, but one which he called a "hassle, a pain". The manufacturer said it was recalling all of its bikes that were made between April 2014 and May 2017, totalling 144,000 bikes. - Telegraph
Wood burning is set to be banned in some urban areas to reduce air pollution under proposed restrictions that would be the strongest in Europe. Sadiq Khan, the mayor of London, is seeking powers to prohibit all burning of wood in parts of the capital with poor air quality. He also wants tighter curbs on wood-burning stoves, with only low- emission versions allowed to stay on sale. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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