| | | | | | | GlaxoSmithKline vs. AstraZeneca This report looks at the two largest UK pharmaceutical companies, both of which are at 2017 lows, and asks which is the better buy, if either has further to fall, which stock is right for you, and what are the city analysts saying? Losses can exceed deposits. Download your report here Losses can exceed deposits | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks nudge up ahead of services data; Aveva rockets on merger London stocks nudged a little higher in early trade on Tuesday as investors set aside worries about North Korea and looked to the release of the latest services data.
At 0825 BST, the FTSE 100 was up 0.1% to 7,416.00, while the pound was down 0.1% versus the euro at 1.0865 and flat against the dollar at 1.2931 as investors awaited the services data at 0930 BST.
Spreadex analyst Connor Campbell said: "So far August's PMIs have been a bit of mixed bag; last Friday's manufacturing reading was far better than expected, only for yesterday's construction figure to fall to a one year low. The services PMI is the most important of the three, and given that analysts are expecting it to slip from 53.8 to 53.5 month-on-month you can forgive the pound its early reticence."
Heavily-weighted mining stocks put in the best performance after figures released earlier showed China's services sector expanded at a faster pace last month. The Caixin China services purchasing managers' index rose to 52.7 from 51.5 in July, marking the highest reading in the last three months.
Anglo American, BHP Billiton, Antofagasta and Glencore were all in the black.
Elsewhere, M&A news helped to provide some cheer, with Aveva up a whopping 24% after it agreed a merger with the software arm of France's Schneider Electric where the UK company's existing shareholders will own 40% of the business.
FTSE 250 housebuilder Redrow rallied after it posted a 26% jump in full-year pre-tax profit as it hiked its dividend by 70% and upgraded its guidance. FTSE 100 peer Barratt Developments followed suit, trading up 0.8%.
DS Smith gained ground as it reported an "encouraging" start to the financial year, with trading in line with expectations.
On the downside, infrastructure and support services company Stobart Group retreated. Although it reported good progress in the first half, it said delays in the commissioning of certain third party biomass stations in the energy business impacted short-term volumes and that it was taking longer than originally planned to introduce additional airlines to operate from London Southend Airport.
Oilfield services group Petrofac was in the red despite announcing the award of a €340m contract with a subsidiary of Russia's Gazprom.
In broker action, insurer Admiral was under the cosh after Berenberg downgraded the stock to 'sell', while Paddy Power was hit by a downgrade to 'equalweight' at Morgan Stanley. However, Hunting was lifted by an upgrade to 'buy' at Canaccord Genuity. |
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| Market Movers
FTSE 100 (UKX) 7,416.00 0.06%
FTSE 250 (MCX) 19,722.72 0.13%
techMARK (TASX) 3,406.92 -0.04%
FTSE 100 - Risers
Anglo American (AAL) 1,428.50p 0.81%
Barratt Developments (BDEV) 622.50p 0.81%
BHP Billiton (BLT) 1,496.00p 0.67%
Antofagasta (ANTO) 1,068.00p 0.66%
Mediclinic International (MDC) 762.50p 0.59%
Whitbread (WTB) 3,760.00p 0.59%
International Consolidated Airlines Group SA (CDI) (IAG) 607.00p 0.58%
Glencore (GLEN) 369.20p 0.57%
Taylor Wimpey (TW.) 199.40p 0.55%
DCC (DCC) 7,305.00p 0.48%
FTSE 100 - Fallers
Admiral Group (ADM) 1,895.00p -1.25%
Paddy Power Betfair (PPB) 6,915.00p -0.79%
InterContinental Hotels Group (IHG) 3,811.00p -0.78%
Reckitt Benckiser Group (RB.) 7,244.00p -0.63%
Morrison (Wm) Supermarkets (MRW) 244.90p -0.45%
Pearson (PSON) 601.00p -0.41%
SEGRO (SGRO) 538.50p -0.37%
Ashtead Group (AHT) 1,698.00p -0.29%
Burberry Group (BRBY) 1,803.00p -0.28%
Scottish Mortgage Inv Trust (SMT) 434.10p -0.21%
FTSE 250 - Risers
Redrow (RDW) 643.50p 3.79%
Hill & Smith Holdings (HILS) 1,316.00p 2.41%
Hunting (HTG) 411.80p 2.21%
Marshalls (MSLH) 445.80p 2.18%
St. Modwen Properties (SMP) 371.60p 2.14%
Mitchells & Butlers (MAB) 254.50p 1.96%
Halfords Group (HFD) 321.00p 1.78%
FDM Group (Holdings) (FDM) 925.00p 1.70%
Petra Diamonds Ltd.(DI) (PDL) 93.60p 1.63%
Amec Foster Wheeler (AMFW) 449.00p 1.58%
FTSE 250 - Fallers
SSP Group (SSPG) 542.50p -2.43%
Diploma (DPLM) 1,060.00p -2.39%
Stobart Group Ltd. (STOB) 289.80p -1.76%
Go-Ahead Group (GOG) 1,759.00p -1.46%
Millennium & Copthorne Hotels (MLC) 462.20p -1.43%
Hastings Group Holdings (HSTG) 308.00p -1.41%
Saga (SAGA) 197.10p -1.25%
Polypipe Group (PLP) 402.00p -1.23%
Inmarsat (ISAT) 727.00p -1.16% |
| | UK Event Calendar | | Tuesday September 05
INTERIMS
888 Holdings, Alpha Fx Group , Cairn Homes , Dalata Hotel Group, EU Supply, Gamma Communications, Lighthouse Group, Spectra Systems Corporation, Stadium Group, Vipera
INTERIM DIVIDEND PAYMENT DATE
Keller Group, St. Modwen Properties
QUARTERLY EX-DIVIDEND DATE
Schlumberger Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Gross Domestic Product (EU) (10:00)
Retail Sales (EU) (11:00)
FINALS
A&J Mucklow Group, Craneware, Mattioli Woods
AGMS
Aberdeen New India Investment Trust, Better Capital Pcc Ltd (2009), Downing Four VCT DP67 , Jupiter Green Inv Trust, Smith (DS)
TRADING ANNOUNCEMENTS
Halfords Group
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
|
| | Market Analysis 05/09/2017 Today’s highlights: Markets react to North Korean tension - North Korea continues to pressure global markets: After reporting a successful nuclear test, North Korea continued to provoke the world today, as it moved an intercontinental missile to its coast. While there was no trading in the US yesterday, markets could react to the growing geopolitical tension today.
- Asia seen lower: Markets in the East reacted to the North Korean situation, with many leading indices, including the Nikkei, trading lower. In contrast, Chinese indices were seen higher, including the China50 index.
Read More... |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Amid the geopolitical fog, stocks bounce back Stocks are bouncing back despite reports that North Korean preparations for further missile launches by North Korea may be afoot, even as its southern neighbour moves to beef up its defenses.
Some market observers and analysts appeared to be at a loss when trying to explain the muted reaction from financial markets to recent events in Northeast Asia. For some, they were either a reflection that a breakout of hostilities was extremely unlikely or that it was simply too difficult to try and predict the possible fallout from an armed clash between Pyongyang and Washington and its allies.
Hence, come Tuesday morning the market spotlight had to an extent shifted towards central banks, with several Fed speakers set to take to the podium later in the day.
Against that backdrop, as of 0920 BST the benchmark Stoxx 600 was 0.36% or 1.36 points ahead at 375.56, alongside a gain of 0.61% or 74.36 points to 12,176.53 for the German Dax and an advance of 0.34% or 17.33 points to 5,121.30 in the Cac-40.
The Stoxx 600 Autos & Parts subindex was among the best performers, climbing 1.52% to 551.47 as the euro dipped 0.09% to 1.1887.
"The role of China is certainly going to come under much greater scrutiny given last weekend's events, particularly its role in keeping the lights on in North Korea. North Korean President Kim Jong Un has always had a tendency to push his luck, only this time he may have pushed it too far in embarrassing his closest ally in China, however it seems unlikely at this late stage that China will be able to influence North Korea even if it was able to do so, which means we can probably expect to see the bass on the background music get ramped up again in the coming days, as the US, South Korea and Japan mull a response at the UN," said Michael Hewson, chief market analyst at CMC Markets UK.
In the latest developments on that distant peninsula, South Korea's Asia Business Daily reported that the North was transporting what might be an intercontinental ballistic missile towards its west coast.
Meanwhile, Seoul had reportedly broached with Washington the possibility of deploying a US aircraft carrier and strategic bombers to the region. The American president had reportedly also granted the South access to more powerful warheads that could be deployed on its own missiles.
In economic news, a revised reading from IHS Markit saw the survey compiler's purchasing managers' index for the euro area's service sector in August marked down from a preliminary print of 54.9 to 54.7, versus an end of July reading of 55.4. In turn, that meant the final reading for the composite factory and service sector PMI in August was unchanged at 55.7, versus a preliminary reading of 55.8.
"The summer months have seen eurozone economic growth moderate only slightly from the rapid pace seen in the spring. The solid PMI readings for July and August set the scene for another strong GDP number for the third quarter, with the surveys running at a level historically consistent with 0.6% growth," said Chris Williamson, chief business economist at IHS Markit.
On the corporate front, toy manufacturer Lego was in the headlines after disclosing its intention to cut its staff by 8%. In parallel, the Danish firm reported a 5% drop in half-year sales to €14.9bn.
German automaker Volkswagen reportedly put the €1.5bn sale of Italian motorcycle unit, Ducati, on ice. |
| | 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: Wall Street goes into Labor Day weekend slightly higher Wall Street went into the long Labor Day weekend on a slightly higher note following the release of a "noisy" jobs report for the month of August, alongside mixed readings on the economy.
By the closing bell, the Dow Jones Industrial Average was higher by 0.18% or 39.46 points at 21,987.52, with the S&P 500 tacking on 0.20% or 4.90 points to 2,476.55, alongside a 0.10% or 6.67 point advance for the Nasdaq Composite that took it to 6,435.33.
To take note of, overnight US Treasury Secretary Steve Mnuchin told CNBC the White House already had a "very detailed" tax reform plan ready.
From a sector standpoint, the largest gains were seen in: Aluminium (2.64%), Non-ferrous metals (1.96%) and Clothing & ACcesories (1.71%).
Meanwhile, oil prices edged higher despite Hurricane Harvey paralysing more than a quarter of the US refining industry. West Texas Intermediate tacked on 21 cents to $47.29 a barrel on the NYMEX.
Commenting on Friday's US Jobs data, ETX Capital's Neil Wilson said, "Although a miss it looks like this print isn't doing anything to alter projections for what the Federal Reserve will do later this month or for the rest of the year.
"The labour market remains in fine health, wage growth is AWOL and inflation lacklustre - nothing has changed today. One swallow doesn't make a summer and one August jobs miss doesn't make for a weakening labour market. Markets have already decided the Fed probably won't hike again this year."
America's job market created 156,000 new posts last month (consensus: 180,000) and, at 0.1% on the month, wage growth fell short of expectations (again).
The details of the report were similarly lacklustre, when not worse, although so-called 'underemployment' as measured by the U6 rate of joblessness was modestly improved, Barclays's Michael Gapen said in a research note sent to clients.
Nevertheless, several economists were quick to point out that August was historically a "noisy month" (Gapen included).
Hence, Gapen said: "We continue to look for an announcement on balance sheet normalization at the September FOMC meeting and see a rate hike in December as still likely, pending further incoming data on inflation and the outcome of potential near-term disruptions to activity, including Hurricane Harvey and the pending deadlines to raise the debt ceiling and extend the federal budget."
Fed funds futures were slightly higher versus where they were early on Thursday, assigning 42% odds to a December rate hike from the Fed.
On the positive side of the ledger, separate readings from ISM and IHS Markit on factory sector activity in August both edged past forecasts.
Construction output however weakened noticeably, shrinking by 0.6% on the month (consensus: 0.5%).
Consumer confidence in the States also undershot forecasts, printing at 96.8 at the end of August, up from 93.4 for end July but lower than a preliminary estimate of 97.6.
Dow Jones - Risers
General Electric Co. (GE) $25.14 2.40%
Chevron Corp. (CVX) $108.76 1.06%
Nike Inc. (NKE) $53.36 1.04%
Goldman Sachs Group Inc. (GS) $225.85 0.96%
JP Morgan Chase & Co. (JPM) $91.72 0.89%
International Business Machines Corp. (IBM) $144.11 0.73%
Caterpillar Inc. (CAT) $118.29 0.67%
Home Depot Inc. (HD) $150.76 0.61%
Coca-Cola Co. (KO) $45.78 0.50%
Unitedhealth Group Inc. (UNH) $199.71 0.43%
Dow Jones - Fallers
United Technologies Corp. (UTX) $117.91 -1.50%
Microsoft Corp. (MSFT) $73.94 -1.11%
Travelers Company Inc. (TRV) $119.88 -1.06%
Johnson & Johnson (JNJ) $131.01 -1.01%
3M Co. (MMM) $203.63 -0.37%
Verizon Communications Inc. (VZ) $47.92 -0.10%
McDonald's Corp. (MCD) $159.81 -0.10%
Merck & Co. Inc. (MRK) $63.83 -0.05%
E.I. du Pont de Nemours and Co. (DD) $83.93 -0.00%
Apple Inc. (AAPL) $164.05 0.03%
S&P 500 - Risers
Diamond Offshore Drilling Inc. (DO) $12.09 6.25%
Tenet Healthcare Corp. (THC) $18.12 5.53%
Cabot Oil & Gas Corp. (COG) $26.87 5.17%
Transocean Ltd. (RIG) $8.56 4.90%
Southwestern Energy Co. (SWN) $5.68 4.22%
Navient Corporation (NAVI) $13.75 4.17%
Nordstrom Inc. (JWN) $46.43 4.08%
Marathon Petroleum Corporation (MPC) $54.28 3.49%
L Brands Inc (LB) $37.48 3.42%
CF Industries Holdings Inc. (CF) $29.98 3.41%
S&P 500 - Fallers
Hewlett Packard Enterprise (HPE) $14.29 -20.76%
Electronic Arts Inc. (EA) $119.31 -1.80%
Progressive Corp. (PGR) $45.66 -1.76%
Campbell Soup Co. (CPB) $45.39 -1.73%
Endo International Plc (ENDP) $8.64 -1.71%
Weyerhaeuser Co. (WY) $32.07 -1.66%
Patterson Companies Inc. (PDCO) $37.88 -1.61%
American Tower Corp (Reit) (AMT) $145.77 -1.54%
United Technologies Corp. (UTX) $117.91 -1.50%
Eli Lilly and Company (LLY) $80.08 -1.49%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $143.42 3.19%
Liberty Interactive Corporation QVC Group (QVCA) $22.72 2.71%
Western Digital Corp. (WDC) $90.41 2.42%
Dish Network Corp. (DISH) $58.47 2.06%
Baidu Inc. (BIDU) $232.64 2.01%
Micron Technology Inc. (MU) $32.60 1.97%
Dollar Tree Inc (DLTR) $81.06 1.78%
Shire Plc Ads (SHPG) $151.84 1.64%
Mattel Inc. (MAT) $16.48 1.60%
Liberty Global Plc Lilac Class A (LILA) $26.41 1.54%
Nasdaq 100 - Fallers
Mercadolibre Inc. (MELI) $251.91 -2.54%
NetEase Inc. Ads (NTES) $269.89 -2.16%
Electronic Arts Inc. (EA) $119.31 -1.80%
Ctrip.Com International Ltd. Ads (CTRP) $50.63 -1.59%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $58.54 -1.55%
Charter Communications Inc. (CHTR) $392.48 -1.52%
Microsoft Corp. (MSFT) $73.94 -1.11%
Express Scripts Holding Co (ESRX) $62.16 -1.05%
Sirius XM Holdings Inc (SIRI) $5.69 -1.04% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Tuesday newspaper round-up: Bell Pottinger, North Sea, Sports Direct, spending Bell Pottinger, one of the City's leading public relations agencies, has been expelled from the industry's trade association after an investigation found its secret campaign to stir up racial tensions in South Africa to be the worst breach of ethics in its history. The Public Relations and Communications Association said Bell Pottinger was unethical and unprofessional, had brought the industry into disrepute and has banned the firm from its membership for at least five years. - Guardian
A London property developer is to allow its tenants to pay their deposits in bitcoin- the first time the virtual currency has been used in the UK residential homes market. Co-living pioneer The Collective has announced that prospective tenants can pay deposits from Monday in bitcoin. By the end of this year it will also accept rent payments in the cryptocurrency. This is the first time in the UK a major property developer has enabled bitcoin payments. The Collective said it was in response to demand predominantly from international customers. - Guardian
The pub group founded by a former Merrill Lynch investment banker has suffered widening losses after getting hit by costs linked to a refinancing. Hawthorn Leisure, which owns 230 pubs, saw pre-tax losses hit £8.9m in 2016 from £5.8m the prior year largely because of what it described as exceptional costs linked to the refinancing of its debt. - Telegraph
A spate of fresh North Sea oil and gas projects starting up this year will reach a ten year high within the ageing basin. A boom in new projects has already unlocked an extra 140,000 barrels of oil and gas a day so far this year, and analysis from oil specialists at Wood Mackenzie suggests the 2017 total will reach 230,000 new barrels of oil and gas a day. - Telegraph
The institution thought to be the biggest independent shareholder in Sports Direct International has joined the revolt against its chairman,The Times has learnt. Fidelity International, which owns almost 6 per cent of the sports and leisurewear retailer, is planning to vote against the re-appointment of Keith Hellawell at the annual meeting tomorrow. Fidelity also plans to vote against the re-election of Simon Bentley, the senior independent director seen as a potential replacement for Mr Hellawell. - The Times
Consumer spending appears to have remained muted last month as rising prices in the shops and sluggish wage growth dampened demand on the high street. Barclaycard said that spending had grown at 2.9 per cent in August compared with a year earlier, below the average rate for this year so far of 3.8 per cent. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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