| | | | | | | 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 | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks nudge lower as investors eye Fed minutes; Dunelm surges London stocks nudged lower in early trade on Wednesday, with little in the way of market-moving news due before the minutes from the Federal Open Markets Committee's previous meeting after the close.
At 0845 BST, the FTSE 100 was down 0.1% to 7,534.22, while the pound was 0.1% lower versus the dollar at 1.3197 and 0.2% weaker against the euro at 1.1163.
Spreadex analyst Connor Campbell said: "It looks like it's going to be one of those days. There is almost nothing going on this Wednesday, with the main event - the latest FOMC meeting minutes - a long, long way off.
"As is befitting such a sparse economic calendar, the European markets didn't do much of anything after the bell. Whereas a lack of news greatly benefited the pound on Monday, this morning it's having the opposite effect, keeping cable the wrong side of €1.32 while sending the currency 0.2% lower against the euro."
Political uncertainties are the major downside risk for pound traders, reminded Ipek Ozkardeskaya at London Capital Group. "PM Theresa May talked down the possibility of another Brexit referendum, although her deputy Damian Green voiced his preference to remain part of the union. Tensions are high among the Tories, especially in the aftermath of a difficult start to the negotiations with the EU."
The FOMC minutes are due at 1900 BST.
Away from the UK and the US, investors were keeping an eye on Spain after Catalan leader Carles Puigdemont softened his stance on independence on Tuesday, looking to negotiate with Madrid.
Oanda analyst Craig Erlam said: "While Puigdemont remained clear that they had been given a mandate for independence by the Catalan people, his call for talks in order to find a peaceful resolution was the much preferred option at this stage. A declaration of independence on Tuesday could have led to a chain of events that made the situation much worse and seen Puigdemont arrested, likely leading to more unrest."
In corporate news, Smith & Nephew rallied amid speculation that activist investor Elliott Management has built a stake in the company and NMC Health was boosted by an initiation at 'overweight' by CI Capital Holdings.
Homeware retailer Dunelm racked up strong gains after it reported a 9.3% jump in total like-for-like sales for the 13 weeks to the end of September, boosted by favourable weather comparatives and "strong" growth across the business, especially online, where LFL sales grew 46% to £19.9m.
Hargreaves Lansdown ticked up after saying it enjoyed a strong start to its new financial year, with solid levels of net new business flows and assets under administration swelling 3.5% over the first quarter or 21% over the same period last year.
Going the other way, Mondi tanked after warning that full-year profits will be below expectations, while Ibstock fell after saying Wayne Sheppard plans to retire in 2018 after 22 years with the group, including the last two as chief executive.
Countryside Properties slipped despite revealing a 28% rise in home completions for the year to 30 September.
Wood Group also lost a little ground despite being awarded a new multi-million dollar contract by Total.
Recruiter PageGroup was also weaker even as it said profit in the third quarter rose, while subprime lender Provident Financial was under the cosh as Barclays downgraded the stock to 'underweight' ahead of its third-quarter update on Friday. |
| Market Movers
FTSE 100 (UKX) 7,534.22 -0.05%
FTSE 250 (MCX) 20,127.36 -0.09%
techMARK (TASX) 3,538.03 0.16%
FTSE 100 - Risers
Smith & Nephew (SN.) 1,398.00p 2.87%
NMC Health (NMC) 2,879.00p 1.59%
easyJet (EZJ) 1,268.00p 1.20%
International Consolidated Airlines Group SA (CDI) (IAG) 614.00p 0.99%
Shire Plc (SHP) 3,851.50p 0.81%
Unilever (ULVR) 4,407.50p 0.80%
Paddy Power Betfair (PPB) 7,595.00p 0.80%
TUI AG Reg Shs (DI) (TUI) 1,317.00p 0.77%
Whitbread (WTB) 3,923.00p 0.72%
Scottish Mortgage Inv Trust (SMT) 436.10p 0.72%
FTSE 100 - Fallers
Mondi (MNDI) 1,951.00p -6.61%
Smurfit Kappa Group (SKG) 2,219.00p -2.55%
Next (NXT) 5,030.00p -1.66%
Centrica (CNA) 174.00p -1.19%
Hargreaves Lansdown (HL.) 1,477.00p -1.07%
BHP Billiton (BLT) 1,385.00p -0.82%
Convatec Group (CTEC) 279.80p -0.67%
Marks & Spencer Group (MKS) 348.90p -0.60%
Ashtead Group (AHT) 1,840.00p -0.59%
Berkeley Group Holdings (The) (BKG) 3,799.00p -0.55%
FTSE 250 - Risers
Dunelm Group (DNLM) 743.00p 5.99%
Royal Mail (RMG) 392.40p 2.56%
IWG (IWG) 320.60p 1.55%
Bovis Homes Group (BVS) 1,150.00p 1.41%
Greencore Group (GNC) 189.30p 1.39%
Hiscox Limited (DI) (HSX) 1,359.00p 1.34%
Britvic (BVIC) 780.00p 1.10%
Renishaw (RSW) 4,811.00p 1.05%
Cairn Energy (CNE) 196.90p 1.03%
Nostrum Oil & Gas (NOG) 407.60p 1.02%
FTSE 250 - Fallers
Provident Financial (PFG) 760.00p -9.15%
Pagegroup (PAGE) 503.00p -4.28%
Hunting (HTG) 459.00p -3.83%
Smith (DS) (SMDS) 488.60p -2.48%
Millennium & Copthorne Hotels (MLC) 561.00p -2.43%
Ascential (ASCL) 334.40p -2.25%
Telecom Plus (TEP) 1,186.00p -2.23%
Rank Group (RNK) 221.50p -1.90%
Ferrexpo (FXPO) 269.10p -1.82% |
| | 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 Analysis 11/10/2017 TodayÂ's highlights: Global markets seen higher - Wall Street bull run resumes: The Dow Jones closed at an all-time high yesterday, while both the Nasdaqand S&P 500 reached all-time intraday highs, but closed short of their all-time closing highs.
- Asia seen higher: Following Wall StreetÂ's lead, Asian markets were seen higher this morning, as leading indices such as the Nikkei and China50 were showing gains.
Read More... |
| | UK Event Calendar | | Wednesday October 11
INTERIMS
Vertu Motors
INTERIM DIVIDEND PAYMENT DATE
888 Holdings, Chesnara, Pagegroup
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
MBA Mortgage Applications (US) (12:00)
Q3
Pagegroup
FINALS
Proactis Holdings
IMSS
Pagegroup
SPECIAL DIVIDEND PAYMENT DATE
Pagegroup
AGMS
Coral Products, Hargreaves Lansdown
TRADING ANNOUNCEMENTS
Countryside Properties, Mondi, Quiz |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Stocks step higher as dollar dips amid Trump tax tiffs US stocks indices extended their gains on a Tuesday that was light in terms of economic data with investors waiting for minutes from the Federal Reserve's last policy meeting and for the corporate earnings season to kick off later in the week.
By the closing bell, the Dow Jones Industrial Average had notched up another record high as it added 69.61 points or 0.31% to 22,830.68, while the Nasdaq composite finished 7.52 points or 0.11% higher at 6,587.25 and the S&P gained 5.91 points or 0.23% to end at 2,550.64.
Stocks were aided by a dip in the dollar, which was down against the euro, pound and yen, with the dollar index down 0.48% to 93.28.
Trading activity on Wall Street returned to normal levels after some Americans took time off to celebrate Columbus Day at the start of the week, though currency traders awaiting release of the Fed's September meeting minutes on Wednesday.
"Traders seem hesitant to add on their pro-dollar positions before they get some insight into Fed's intentions from the FOMC minutes," said Konstantinos Anthis at ADS Securities, adding that unless there is a surprisingly bearish tone coming out of the minutes, the dollar is likely to be strengthen.
Last month the Federal Open Markets Committee announced it would initiate its balance sheet normalisation programme in October, which had been well flagged and so did not come as a surprise.
Fed Chair Janet Yellen subsequently said low inflation this year was creating uncertainty for monetary policymakers, despite a substantial improvement in labour market conditions, though she concluded that low inflation may be "transitory" and that it had not persisted long enough to negate the need for gradual policy tightening.
"However, some other FOMC policymakers have indicated a preference for allowing inflation to pick up before raising policy interest rates any further. The FOMC minutes are likely to show a range of views on inflation, financial stability, and the implications for policy," economists at HSBC said.
As for stocks, the risk-on appetite is "still going strong" with major equity benchmarks setting fresh records, said analyst David Madden at CMC Markets.
"The possibility of Donald Trump's tax reforms being introduced are playing into bullish activity but an argument between the US President and fellow Republican Bob Corker would derail the new tax proposals from getting the green light."
For some, the spat is more than a storm in a tea cup. Analyst Naeem Aslam at Think Markets said Trump's problems pushing his tax plan through show the president "is so ineffective that he can't even convince his own party leaders".
He added: "Without the proposed tax plan, there is little that the Fed can do to push the GDP growth. President has failed on so many of his key plans and another failure on the tax overhaul could be the final nail in the coffin."
Indeed, on Tuesday the International Monetary Fund pared back its growth forecasts for the US economy as it no longer expects President Trump's proposed tax cuts to happen.
The US economy is still expected to expand at a 2.2% rate in 2017 and 2.3% in 2018, but this was down from its forecast in April when growth of 2.3% was predicted for this year and 2.5% for 2018.
Elsewhere, the National Federation of Independent Business index of small business activity fell to a 10-month low of 103.0 in September from 105.3 the month before, missing expectations for a reading of 105.0.
Pantheon Macroeconomics said: "The sharp drop in the headline index suggests that small firms have reacted much more negatively to the hurricanes than bigger businesses. Most of the damage is in the sentiment numbers, with sales expectations down 12 points, good time to expand down 10 points, and economic expectations down 6 points.
"This drop in sentiment filtered into capex plans, which dropped by 5 points. We expect all these numbers to rebound over the next few months, as the hurricane hit fades."
In corporate news, Wal-Mart stock surged to a two-year high as the mammoth retailer looked to take the fight back to challengers like Amazon by targeting a 40% rise in US online sales next year. The company guided to overall net sales growth of at least 3% in the year to January 2019, and unveiled a $20bn buy back to be carried out over the next two years.
Procter & Gamble was trading lower after an annual general meeting during which a major proxy vote among shareholders saw Trian Fund Management chief executive Nelson Peltz narrowly fail to get a seat on the board.
Pfizer stock was up after the pharma group said it may sell off all or part of its consumer healthcare business as it begin a strategic review of the unit.
Walt Disney was also making headlines after releasing the latest trailer for 'Star Wars: The Last Jedi'.
Dow Jones - Risers
Wal-Mart Stores Inc. (WMT) $84.13 6.49%
Chevron Corp. (CVX) $118.80 1.51%
International Business Machines Corp. (IBM) $148.56 1.38%
Caterpillar Inc. (CAT) $128.19 0.99%
Pfizer Inc. (PFE) $36.42 0.97%
Boeing Co. (BA) $260.93 0.91%
Coca-Cola Co. (KO) $45.84 0.84%
Travelers Company Inc. (TRV) $125.94 0.70%
Exxon Mobil Corp. (XOM) $82.27 0.67%
McDonald's Corp. (MCD) $160.58 0.61%
Dow Jones - Fallers
General Electric Co. (GE) $23.35 -4.22%
Unitedhealth Group Inc. (UNH) $194.64 -1.71%
Nike Inc. (NKE) $51.53 -1.70%
Goldman Sachs Group Inc. (GS) $242.53 -1.39%
Procter & Gamble Co. (PG) $91.62 -0.77%
Cisco Systems Inc. (CSCO) $33.55 -0.62%
Intel Corp. (INTC) $39.65 -0.53%
Walt Disney Co. (DIS) $99.62 -0.45%
Home Depot Inc. (HD) $165.16 -0.42%
Merck & Co. Inc. (MRK) $64.46 -0.14%
S&P 500 - Risers
Wal-Mart Stores Inc. (WMT) $84.13 6.49%
American Airlines Group (AAL) $53.03 4.80%
Altria Group Inc. (MO) $65.01 3.93%
United Continental Holdings Inc. (UAL) $67.72 3.79%
Philip Morris International Inc. (PM) $115.09 3.50%
H&R Block Inc. (HRB) $25.72 3.46%
Micron Technology Inc. (MU) $41.98 2.49%
NiSource Inc. (NI) $26.36 2.45%
News Corp Class A (NWSA) $13.50 2.43%
Helmerich & Payne Inc. (HP) $52.76 2.40%
S&P 500 - Fallers
DaVita Inc (DVA) $54.32 -9.19%
Tenet Healthcare Corp. (THC) $14.40 -8.05%
Chesapeake Energy Corp. (CHK) $3.91 -6.79%
Apache Corp. (APA) $42.47 -5.98%
General Electric Co. (GE) $23.35 -4.22%
United States Steel Corp. (X) $24.98 -4.11%
Juniper Networks Inc. (JNPR) $27.27 -4.08%
W.W. Grainger Inc. (GWW) $173.91 -3.42%
Universal Health Services Inc. (UHS) $106.57 -3.23% |
| | Newspaper Round Up | | Wednesday newspaper round-up: Tesco, energy, RBS, Monarch The sheer scale of supermarket firm Tesco meant the financial picture could change "overnight", a court has heard. Nicholas Purnell QC, for the defence, gave the example of March 2014 when the finance team forecast a monthly sales shortfall of £108m versus internal targets for the UK food business - only for that figure to be reduced by £32m some 24 hours later. - Guardian
Free housing, food, transport and access to the internet should be given to British citizens in a massive expansion of the welfare state, according to a report warning the rapid advance of technology will lead to job losses. Former senior government official Jonathan Portes and academics from University College London make the call for a raft of new "universal basic services" using the same principles as the NHS. They estimate it would cost about £42bn, which could be funded by changes to the tax system. - Guardian
Government's plan to cap household energy prices is set to steamroll ahead even as fresh data shows wholesale prices are on the rise and bills remain well below their 2014 peak. The political pressure furore around energy bills will reach fever pitch this week as ministers press ahead with controversial legislation to cap tariffs despite data which shows that energy bills are lower than they were when the threat of a market intervention first emerged. - Telegraph
The UK insurance giant created by the merger of Towergate and four companies this year is to snap up motorcycle insurance broker Carole Nash this week in a deal worth up to £65m. The Ardonagh Group, created in July after insurers Towergate, Autonet, Chase Templeton, Ryan Direct and Price Forbes were pulled into one holding company, is expected to announce the deal as soon as Wednesday, those close to the talks said. - Telegraph
Royal Bank of Scotland's £425 million "challenger" fund's grant policy has come under attack from new lenders and politicians because one of its chief beneficiaries could be Santander. There is widespread anger among new lenders that the fund will allow Santander, of Spain, to apply for a grant to support business lending, even though it is one of Europe's biggest banks. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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