| | | | | | | Prime Centrum Specialists in UK Residential Property Investment with High Income
68% Return on Investment with UK Buy-to-Let Property Invest From £119,950
7% NET income Assured for 3 Years
15% Discount Below Market Comparables Request More Information | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London Close: Stocks Flat Despite Downdraft In Sterling The top flight index was barely able to edge into the black by the closing bell, despite a downdraft in Sterling, with Whitbread on the slide after a disappointing set of interim results. The FTSE 100 finished the session up by 0.03% to 7,526.54, while the pound was down 0.70% against the euro at 1.1154 and 0.54% lower versus the dollar 1.3125. Sterling came under pressure as comments from Bank of England deputy governor Jon Cunliffe cast further doubt over the likelihood of a November hike in Bank Rate. Speaking on a trip to Wales, Cunliffe told the Western Mail that while interest rates are sure to be higher in three years' time, there's no guarantee that the first rate increase in a decade is imminent. "Coming off the back of Theresa May’s declaration that significant progress is being made in Brexit negotiations, Cunliffe’s declaration that a November rate hike remains an ‘open question’ has put some pressure on sterling," said IG analyst Joshua Mahony. There were no major UK data releases due on Tuesday, but Wednesday was set to see the release of third-quarter GDP data and BBA mortgage approvals. In corporate news, Whitbread was under the cosh after first-half results showed evidence of a bit of a summer slowdown, with revenues at its Premier Inn hotels and Costa Coffee arms both softening but tight cost control percolating through to a solid profit performance. St James's Place on the other hand was a top gainer after it posted £2.36nbn of net inflows of new funds under management for the three months to the end of September compared to £1.66bn in the same period one year ago. Saga nudged up as it said chairman Andrew Goodsell intends to retire next year. Distribution and outsourcing group Bunzl slipped despite reporting a rise in third-quarter revenue as it continues to eye further acquisitions. International service company Serco rallied as it reached agreement to acquire BTP Systems - a provider of satellite communication and radar engineering technical services to the US defence industry and signed heads of terms to acquire a portfolio of selected UK health facilities management contracts from Carillion. Hunting gushed higher after saying it expects a modest profit for the year as revenue rose in third quarter.
Carillion surged after agreeing to sell a large part of its UK healthcare facilities management business to Serco for £50.1m, and announcing new financing and contract wins. Weir advanced slightly as RBC Capital Markets lifted it to ‘outperform’, while Pendragon fell again after its profit warning on Monday, as Berenberg and Liberum downgraded their ratings on the stocks. RSA Insurance edged higher after an upgrade to 'overweight' in a note from JPMorgan, which also sent Admiral and Esure packing with downgrades. Market Movers FTSE 100 (UKX) 7,526.54 0.03%
FTSE 250 (MCX) 20,113.21 -0.09%
techMARK (TASX) 3,528.63 -0.47% FTSE 100 - Risers Antofagasta (ANTO) 1,031.00p 2.79%
Standard Chartered (STAN) 783.30p 2.03%
St James's Place (STJ) 1,193.00p 1.97%
Rentokil Initial (RTO) 326.30p 1.46%
Glencore (GLEN) 385.20p 1.44%
Worldpay Group (WPG) 411.50p 1.35%
Barclays (BARC) 198.00p 1.30%
Royal Dutch Shell 'A' (RDSA) 2,343.00p 1.30%
Pearson (PSON) 704.50p 1.29%
BP (BP.) 496.25p 1.08% FTSE 100 - Fallers Whitbread (WTB) 3,753.00p -4.79%
WPP (WPP) 1,324.00p -3.07%
Paddy Power Betfair (PPB) 7,505.00p -2.72%
Convatec Group (CTEC) 207.30p -2.68%
Johnson Matthey (JMAT) 3,397.00p -2.39%
easyJet (EZJ) 1,290.00p -2.27%
Mediclinic International (MDC) 609.50p -2.25%
Centrica (CNA) 172.30p -1.77%
Direct Line Insurance Group (DLG) 372.40p -1.48%
Merlin Entertainments (MERL) 368.40p -1.47% FTSE 250 - Risers Hunting (HTG) 496.80p 8.78%
Redrow (RDW) 659.00p 2.73%
RPC Group (RPC) 965.00p 2.66%
TalkTalk Telecom Group (TALK) 207.60p 2.62%
Electra Private Equity (ELTA) 1,777.00p 2.42%
Tullow Oil (TLW) 189.30p 1.72%
Virgin Money Holdings (UK) (VM.) 298.80p 1.70%
Cairn Energy (CNE) 203.90p 1.59%
Stobart Group Ltd. (STOB) 269.00p 1.51%
Sirius Minerals (SXX) 26.61p 1.45% FTSE 250 - Fallers Provident Financial (PFG) 890.00p -4.20%
Softcat (SCT) 499.10p -3.20%
Rank Group (RNK) 221.10p -3.15%
Evraz (EVR) 317.80p -2.52%
Vectura Group (VEC) 98.20p -2.48%
UDG Healthcare Public Limited Company (UDG) 900.50p -1.91%
Workspace Group (WKP) 867.00p -1.81%
Investec (INVP) 548.00p -1.79%
Daejan Holdings (DJAN) 6,190.00p -1.69%
esure Group (ESUR) 269.90p -1.68% |
| | The Top 10 Stocks for Q4 | | Our latest quarterly stocks report analyses the top and bottom 10 FTSE 100 performers of 2017 so far and looks at our Top Ten Stock Picks for Q4 including City broker consensus and their average target price for each stock. Losses can exceed deposits Download the report here |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe Midday: Stocks Track Gains On Wall Street, Catalan Elections Eyed Stocks are edging higher come midday amid a positive start to trading on Wall Street with the Dow Jones Inudstrials making a fresh push into record territory. "Global equities are trading higher into the afternoon as investors await key trading updates from five Dow Jones components. On the FTSE 100, buoyant commodity prices are helping to offset the impact of a disappointing set of results for Whitbread in which life-for-like growth at its Costa branches looked underwhelming, whilst positive Manufacturing PMI data and M&A speculation in the German banking space is helping the DAX higher. "After breaking a run of six consecutive record closing highs, Dow Jones futures are pointing to a positive open on Wall Street ahead of results from constituents that make up over 15% of its overall weight," said Henry Croft, analyst at Accendo Markets. Against that backdrop, as of 1500 BST the benchmark Stoxx 600 was dipping 0.35% to 389.68, alongside a gain of 0.88% to 22,577.77 on the FTSE Mibtel while the German Dax was edging higher by 0.08% to 13,013.96. In parallel, Spain's Ibex 35 was ahead by 0.46% or 46.30 points at 10,208.30. Meanwhile, in Spain, the top Spanish-language local media outlets from Catalonia were reporting that the regional president Carles Puigdemont was mulling calling fresh elections. Nevertheless, it remained to be seen if Puigdemont would be willing to disavow issuing a unilateral declaration of independence. According to the Spanish Socialist party's parliamentary spokeswoman, Margarita Robles, "If elections are called within the constitutional and current legal framework, there would be no reason to trigger article 155, which can only be put in motion upon approval by the Senate," daily El Pais reported. According to that same newspaper, that was contrary to what the Justice Minister, Rafael Catala, had declared the day before. In the background, according to other analysts, markets were in a bit of 'holding pattern' ahead of the European Central Bank's policy meeting on Thursday, although for some observers substantial information regarding rate-setters deliberations had already been 'leaked' so the hurdle for surprises was now quite high. On the economic front, IHS Markit's composite euro area manufacturing sector purchasing managers' index fell from a reading of 56.7 in September to 55.9 for October (consensus: 56.5). Elsewhere, commenting on the results of the ECB's Eurozone bank lending survey for the third quarter of 2017, Dr. Loredana Federico at UniCredit said that: "The banks surveyed substantially confirmed the overall picture that had already emerged: that easing credit standards and increasing demand have continued to support loan growth in the Eurozone." As expected, policymakers at the National bank of Hungary opted to stay put on interest rates after meeting earlier on Tuesday. In corporate news, stock in Italian lender Unicredit had reversed early losses to trade higher after having mistakenly released its third quarter figures two weeks ahead of schedule, posting a 5.7% drop in net interest income to €2.5bn. Sales at German sportswear manufacturer Puma jumped 17% to €1.122m over the latest three month period, alongside a 230bp increase in gross margins, led the company to raise its full-year sales and operating profit forecasts. |
| | Who pockets your portfolio's profits? You or your broker? | | Make sure you’re not paying too much for your portfolio’s account admin by choosing fixed over percentage-based fees. Capital at risk. Read more |
| | US Market Report | | US Open: Caterpillar, 3M Results Help Dow To New Record The Dow Jones Industrials Average is pushing further into record territory on the heels of a wave of better-than-expected corporate earnings updates. At 1630 BST, the Dow Jones Industrial Average was standing 0.82% or 191.85 points higher at 23465.87, alongside a gain of 0.22% or 5.55 points for the S&P 500 to 2,570.53, while the Nasdaq Composite was adding 0.29% or 19.14 points to 6,605.97. Stock in 3M, Caterpillar, GM and McDonald's were all putting on heavy gains after pleasing shareholders with their latest set of financials, with United Technologies one of the few exceptions, with its shares trading lower despite beating forecasts on the Street for its earnings per share. From a sector standpoint, the best performance was being put in by the following industrial groups: Recreational products (4.70%), Aluminum (3.17%) and Leisure goods (2.16%). The lone economic release on Tuesday was IHS Markit's manufacturing sector purchasing managers index for October, which printed at 54.5 - a 9-month high - following a reading of 53.1 for September. In other asset classes, the yield on the benchmark 10-year US Treasury was stading fourbasis points higher at 2.41% and just off its highest mark since April. Back on the corporate front, shares of industrial conglomerate 3M were rocketing after the firm beat analysts' forecasts for both profits and sales and bumped up its outlook for earnings. GM was also standing higher despite reporting an enormous third quarter loss of $2.98bn or -$2.03 on a per share basis, versus $1.76 per share of profits a year ago. However, on an adjusted basis earnings per share came in at $1.32 (consensu: $1.11). Sales also fell by less than anticipated. Shares of McDonalds were also wanted even after the fast food giant only managed to just meet analysts' estimates on both the top and bottom line. Heavy equipment manufacturer Caterpillar was also on the up after the company said it was seeing stronger demand for its wares across many of its end markets. |
| | Broker Tips | | Broker tips: Provident Financial, Hunting, RSA Insurance Berenberg hiked its target price for Provident Financial on Tuesday but stuck to a 'hold' recommendation on the shares, warning clients that it was impossible to anticipate the conclusion of the regulator's investigation into the door-step lender. "We do not think it is possible to usefully forecast the conclusion of the FCA investigation, and it is this variable that will be the key driver of the stock price over the medium term, in our view. We therefore retain our Hold recommendation," analysts Donald Tait and Robert Chantry said in a research note sent to clients. Furthermore, the broker explained how "the FCA has stated publically its commitment to helpingpotentially vulnerable borrowers and we think this may have further ramifications for earnings and returns." The potential for increased regulatory capital requirements as a result of the investigation into Provident's repayment option plan was still a worry as well, potentially curtailing its ability to pay any redress fine. On a more a positive note, the broker did expect the company home credit unit to recover, albeit not to the same size as before. Analysts at Canaccord Genuity raised their target price for Hunting's shares following the company's third quarter trading update. The Canadian broker said it expected the "strong" levels of activity seen over the prior month to extend into October, adding that business was especially strong at the the oilfield services group's Titan unit. Hence, Canaccord bumped up its full-year 2017 earnings per share estimate from a loss of -$0.03 to a profit of $0.01, with similar-sized upwards revisions made to its estimates for 2018 and 2019. As a result, its target price for the shares rose from 450p to 520p. "Outside the guns business, activity in other US onshore drilling focussed businesses (Hunting Specialty) is also reporting strong results. Notably, there is also some strength in the rest of the business, albeit that demand is primarily for US activity [...] We continue to believe that the recovery in the oil industry is taking hold, and current oil prices suggest that there is likely more to go for," analyst Alex Brooks said in a research note sent to clients. RSA Insurance got a boost on Tuesday as JPMorgan Cazenove upgraded the stock to 'overweight' from 'neutral' as it took a look at the UK non-life sector. The bank said its clear top pick in the sector is overweight-rated Direct Line, closely followed by RSA and then Hastings. It noted that RSA has underperformed in recent months, meaning the valuation is now attractive. "We believe the pricing backdrop in commercial lines may improve following recent natural catastrophe events, and with additional capital return likely to commence from FY18E, RSA's income credentials could be meaningfully improved." With relatively less upside to its valuations, the bank downgraded Admiral to 'neutral' from 'overweight' and Esure to 'underweight' from 'neutral'. It said Admiral's slower growth in the first half was due to a temporary competitive disadvantage and although this will be removed in January, it nevertheless could continue to weigh on growth in the second half. "With no obvious catalysts on the horizon, and only modest upside to our valuation, we move to neutral." | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment