| | | | | | | 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 higher as miners gain on China data London stocks nudged higher in early trade on Monday, with miners lifted by Chinese inflation data, as investors eyed Prime Minister Theresa May's trip to Brussels for what appears to be a potential Brexit intervention.
At 0835 BST, the FTSE 100 was up 0.1% to 7,540.69, while the pound was up 0.4% against the euro at 1.1286 and 0.2% firmer versus the dollar at 1.3308.
May's dinner party with European Commission president Jean-Claude Juncker and the EU's chief Brexit negotiator Michel Barnier will be closely watched after the latter said last week that Brexit negotiations had reached "deadlock".
The rest of the week's economic calendar is already pretty chock-a-block, with UK inflation, wage growth and retail sales readings, as well as the latest GDP data from China and a potentially crucial EU summit on Thursday and Friday.
Spreadex analyst Connor Campbell said the meeting had been convened in order to help break the 'disturbing deadlock' between the two sides and, in turn, help nudge the EU towards green-lighting trade talks at the end of the week. "This news seems to have helped buoy the pound, which is keeping above $1.33 against the dollar."
Spanish politics were also in focus amid reports that Catalan leader Carles Puigdemont - who had been asked by Spanish Prime Minister Mariano Rajoy to announce by 0900 BST on Monday whether the region had declared independence - said in a letter that he wants to hold a dialogue and negotiate over the next couple of months.
Market participants were also likely to be digesting the latest news from Austria, where the conservative Austrian People's Party's Sebastian Kurz's looked set to become Europe's youngest leader.
On the corporate front, heavily-weighted mining stocks racked up the strongest gains after China's consumer price index rose 1.6% in September from the year before, in line with expectations, according to data from the National Bureau of Statistics. Meanwhile, the producer price index was up 6.9% last month from a year ago, beating expectations.
ConvaTec tanked after it warned that revenues and profit margins for the full year will be lower than it had previously guided and that growth targets in 2018 may need to be adjusted.
Ultra Electronics edged lower despite saying that its Cheltenham-based Precision Control Systems business has received contracts valued $16m from Boeing and Lockheed Martin.
Financial technology company NEX Group was in the red after it announced that - having put into motion the "significant restructure" of the company's post trade division 'NEX Optimisation' - Jenny Knott has decided to step down as the division's CEO.
Polymetal advanced after saying it was on track for the full year as it posted a jump in third-quarter sales.
ITV was boosted by an upgrade to 'buy' at HSBC, while AstraZeneca was in the black after Credit Suisse upgraded the stock to 'outperform' and Sky nudged up as AlphaValue lifted it to 'add'.
GKN was hit by a downgrade to 'hold' at Societe Generale and Aldemore slipped just a touch after Investec cut the stock to 'hold'.
There are no major UK macroeconomic releases due on Monday apart from Rightmove house prices data showing asking prices in England and Wales rose 1.1% to £313,435 in the four weeks to 7 October, following a 1.2% drop the previous month. |
| | 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) 7,540.69 0.07%
FTSE 250 (MCX) 20,257.13 -0.01%
techMARK (TASX) 3,554.43 0.08%
FTSE 100 - Risers
Antofagasta (ANTO) 1,047.00p 3.15%
BHP Billiton (BLT) 1,430.50p 2.32%
Glencore (GLEN) 384.50p 2.10%
Rio Tinto (RIO) 3,765.00p 2.07%
Shire Plc (SHP) 3,918.00p 1.82%
ITV (ITV) 175.30p 1.56%
Anglo American (AAL) 1,488.00p 1.26%
AstraZeneca (AZN) 5,172.00p 0.88%
G4S (GFS) 283.10p 0.64%
Merlin Entertainments (MERL) 455.40p 0.57%
FTSE 100 - Fallers
Convatec Group (CTEC) 241.00p -13.71%
Reckitt Benckiser Group (RB.) 7,078.00p -1.52%
GKN (GKN) 314.00p -1.26%
Smurfit Kappa Group (SKG) 2,154.00p -1.19%
Centrica (CNA) 173.00p -0.92%
Royal Bank of Scotland Group (RBS) 272.80p -0.87%
Barclays (BARC) 189.75p -0.78%
Kingfisher (KGF) 306.90p -0.78%
Intertek Group (ITRK) 5,170.00p -0.67%
British American Tobacco (BATS) 4,826.00p -0.66%
FTSE 250 - Risers
TBC Bank Group (TBCG) 1,675.00p 2.45%
Sirius Minerals (SXX) 26.60p 2.31%
Kaz Minerals (KAZ) 866.50p 2.06%
OneSavings Bank (OSB) 401.00p 1.91%
Ferrexpo (FXPO) 294.70p 1.90%
Vedanta Resources (VED) 914.50p 1.84%
Polymetal International (POLY) 911.50p 1.79%
Virgin Money Holdings (UK) (VM.) 290.00p 1.68%
Evraz (EVR) 326.80p 1.59%
Ashmore Group (ASHM) 383.80p 1.40%
FTSE 250 - Fallers
Howden Joinery Group (HWDN) 416.10p -2.28%
Capita (CPI) 563.00p -1.49%
PZ Cussons (PZC) 324.90p -1.34%
Domino's Pizza Group (DOM) 334.60p -1.30%
Ascential (ASCL) 348.40p -1.22%
ZPG Plc (ZPG) 359.60p -1.13%
Sports Direct International (SPD) 394.40p -1.10%
Wetherspoon (J.D.) (JDW) 1,256.00p -1.10%
Wizz Air Holdings (WIZZ) 3,277.00p -1.00% |
| | UK Event Calendar | | Monday October 16
INTERIM EX-DIVIDEND DATE
Sagicor Financial Corporation Limited (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (11:00)
GMS
Eckoh
DRILLING REPORT
Polymetal International, Rio Tinto
AGMS
Bluejay Mining, Zibao Metals Recycling Holdings
TRADING ANNOUNCEMENTS
Acal, Schroders (Non-Voting)
FINAL DIVIDEND PAYMENT DATE
1pm, National Westminster 9%pf
|
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Stocks end higher despite another CPI miss Stocks ended slightly higher going into the weekend despite inflation data for September that came in shy of market estimates for a sixth month out of seven.
By the closing bell, the Dow Industrials had edged higher by 0.13% or 30.71 points to 22,871.72, with the S&P 500 up by 0.09% or 2.24 points to 2,553.17 alongside it and the Nasdaq Composite adding 0.22% or 14.29 points to trade at 6,605.80.
In parallel, front month West Texas Intermediate crude oil futures were trading higher by 72 cents to $51.45 a barrel on the NYMEX.
From a sector standpoint, the best performing areas of the market were: Iron&Steel (2.10%), Industrial metals (1.79%) and Non-ferrous metals (1.65%).
To take note of, investors were also digesting president Donald Trump's decision not to certify that Iran was complying with the 2015 nuclear arms deal, opting instead to pursue measures to strengthen it.
Back on the economic front, headline consumer prices in the US picked up to a 2.2% clip year-on-year in September, according to the Department of Labor, versus the 2.3% gain economists had penciled-in on the back of the expected impact from hurricanes Harvey and Irma. That was despite a 6.1% surge in energy costs when compared with the previous month.
So-called 'core' inflation also missed projections for an advance of 1.8%, increasing instead at a 1.7% pace, the same as last month.
Friday's weak reading on inflation saw the yield on the benchmark 10-year US government bond fall five basis points to 2.27%.
Commenting on the possible implications of Friday's CPI data, analysts at Barclays Research said: "We see softness in core CPI as driven by core goods, where deflation has become even more pronounced in recent months, while the momentum in core services seems to be turning around tentatively.
"While the core CPI data were softer than expected, we still believe the FOMC will want to leave the door open for a December hike and signal that it will continue to monitor the inflation data closely in the months preceding the meeting."
Retail sales volumes on the other hand jumped 1.6% month-on-month in September to reach $483.9bn, according to the Department of Commerce, bang in line with forecasts.
For his part, following the September CPI numbers Chicago Fed chief Charles Evans told Bloomberg TV that: "In a lot of our inflation forecasts right now, there's still a lot of hope [...] It would be nice if we had more confirmation that inflation was going to pick up."
Also of interest, Boston Fed chief Eric Rosengren said that whomever took over at the helm of the US central bank, he or she would have to work with the rest of the Committee. So while change in the Federal Reserve's handling of monetary policy might happen, it would probably evolve relatively slowly.
In other Fedspeak, Dallas Fed boss Robert Kaplan reportedly said that inflationary pressures were building but were being offset.
On the corporate side of things, Bank of America posted weaker than expected top line growth for the third quarter due to a sharp fall in sales and trading revenues at its Global Markets arm. Yet shares in the lender advanced as the results showed that the remainder of the lender's business lines performed well.
Stock in Wells Fargo & Co. on the other hand slipped as its top line fell short of analysts' estimates, shrinking 2% to $21.9bn.
Dow Jones - Risers
Procter & Gamble Co. (PG) $93.04 1.73%
Caterpillar Inc. (CAT) $130.73 1.64%
McDonald's Corp. (MCD) $165.37 1.36%
Intel Corp. (INTC) $39.67 1.22%
Wal-Mart Stores Inc. (WMT) $86.62 1.04%
American Express Co. (AXP) $92.86 0.98%
United Technologies Corp. (UTX) $118.85 0.93%
Travelers Company Inc. (TRV) $126.64 0.84%
Apple Inc. (AAPL) $156.99 0.63%
Cisco Systems Inc. (CSCO) $33.47 0.63%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $47.86 -2.05%
Goldman Sachs Group Inc. (GS) $238.53 -1.60%
Unitedhealth Group Inc. (UNH) $192.60 -1.40%
Walt Disney Co. (DIS) $97.38 -1.19%
JP Morgan Chase & Co. (JPM) $95.86 -1.01%
Merck & Co. Inc. (MRK) $63.39 -0.61%
Home Depot Inc. (HD) $164.47 -0.47%
International Business Machines Corp. (IBM) $147.15 -0.35%
General Electric Co. (GE) $22.98 -0.30%
Pfizer Inc. (PFE) $36.35 -0.30%
S&P 500 - Risers
United States Steel Corp. (X) $27.36 8.57%
HP Inc (HPQ) $21.71 6.37%
Viacom Inc. Class B (VIAB) $26.00 5.82%
XL Group Ltd (XL) $41.54 5.49%
CF Industries Holdings Inc. (CF) $36.80 5.41%
W.W. Grainger Inc. (GWW) $181.05 4.96%
Alliance Data Systems Corp. (ADS) $231.02 4.94%
Chipotle Mexican Grill Inc. (CMG) $326.49 4.82%
Host Hotels & Resorts Inc. (HST) $19.54 4.66%
Mosaic Company (MOS) $21.77 3.22%
S&P 500 - Fallers
PG&E Corp. (PCG) $57.72 -16.53%
Tenet Healthcare Corp. (THC) $13.15 -9.31%
Mallinckrodt Plc Ordinary Shares (MNK) $33.29 -6.72%
AT&T Inc. (T) $35.71 -6.52%
Signet Jewelers Ltd (SIG) $60.00 -6.37%
Centene Corp. (CNC) $90.69 -5.58%
Gap Inc. (GPS) $27.24 -4.15%
J.B. Hunt Transport Services Inc. (JBHT) $104.01 -4.01%
Juniper Networks Inc. (JNPR) $25.81 -3.91%
Citigroup Inc. (C) $72.13 -3.78%
Nasdaq 100 - Risers
Viacom Inc. Class B (VIAB) $26.00 5.82%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $198.58 4.43%
NetEase Inc. Ads (NTES) $279.65 2.90%
Cerner Corp. (CERN) $73.57 2.54%
Western Digital Corp. (WDC) $87.80 2.38%
Seagate Technology Plc (STX) $34.40 2.32%
Nvidia Corp. (NVDA) $194.59 1.86%
Netflix Inc. (NFLX) $199.49 1.85%
Costco Wholesale Corp. (COST) $159.85 1.67%
Lam Research Corp. (LRCX) $189.90 1.56%
Nasdaq 100 - Fallers
J.B. Hunt Transport Services Inc. (JBHT) $104.01 -4.01%
Walgreens Boots Alliance, Inc. (WBA) $67.56 -2.09%
Activision Blizzard Inc. (ATVI) $61.08 -1.56%
Celgene Corp. (CELG) $136.46 -1.47%
CSX Corp. (CSX) $52.83 -1.40%
Idexx Laboratories Inc. (IDXX) $159.60 -1.34%
Dish Network Corp. (DISH) $48.38 -1.33%
Paychex Inc. (PAYX) $63.75 -1.04%
Regeneron Pharmaceuticals Inc. (REGN) $442.96 -0.94% |
| | Newspaper Round Up | | Monday newspaper round-up: Missing £490bn, May to Brussels, Chancellor's plans Global banks and international bond strategists have been left stunned by revised ONS figures showing that Britain is £490bn poorer than had been assumed and no longer has any reserve of net foreign assets, depriving the country of its safety margin as Brexit talks reach a crucial juncture. A massive write-down in the UK balance of payments data shows that Britain's stock of wealth - the net international investment position - has collapsed from a surplus of £469bn to a net deficit of £22bn. This transforms the outlook for sterling and the gilts markets. - Telegraph
Theresa May and David Davis will make a surprise visit to Brussels for a private dinner with the EU commission chief, Jean-Claude Juncker, and the EU's top Brexit negotiator, Michel Barnier, in a diplomacy blitz before a crucial summit this week. May and Davis will visit Juncker and Barnier in the Belgian capital on Monday evening, where they are expected to make the case for EU leaders to agree to move on negotiations, to pave the way for discussions of Britain's future relationship with the EU. - Guardian
Philip Hammond is planning a Budget raid on older workers to pay for tax breaks for younger people as he battles to save his job. The Chancellor of the Exchequer is understood to be examining ways to link tax to age to promote "intergenerational fairness" in next month's Budget. Tax breaks would be offered to workers in their 20s and 30s, paid for by cutting reliefs for older and better off workers. - Telegraph
Philip Hammond is pushing for an international trade agreement in services to "rehabilitate globalisation" in the West to counter recent populist surges in Europe and America. The chancellor used his platform at the International Monetary Fund meeting in Washington to urge countries to redouble their efforts to build a global framework in services, such as banking, healthcare and transport, that would match the long-established arrangement for goods. - The Times
Confidence among chief financial officers has rebounded from a low point after the election, but Brexit is still expected to hit investment and hiring. The latest quarterly survey of finance officers, undertaken by Deloitte, has found that just under two thirds expect leaving the European Union to harm the business environment, down from nearly three quarters.
A Norwegian entrepreneur and investor who is seeking to oust the chairwoman at Johnston Press has set his sights on a wider shake-up the British media scene, with ambitions to buy the Metro newspaper and the Evening Standard. Christen Ager-Hanssen, owner of the Swedish Metro newspaper, is set to go head to head with Camilla Rhodes at an extraordinary meeting to determine the future of one of Britain's oldest newspaper groups. -The Times
One of the UK's biggest energy companies is allowing its customers to fall as much as £1,600 into debt on their energy bills before intervening to help them repay it. The energy regulator, Ofgem, said the "big-six" firm npower, along with the smaller suppliers Utility Warehouse, Ecotricity, iSupplyEnergy, and First Utility, let customers accrue an average of £800 of debt for electricity before acting. In some extreme cases, debts rose to more than £1,000. - Guardian
Profits fell at half of Britain's law firms last year as pay rises and hiring sprees at the larger players took their toll. Research being published today reveals that firms were hit by falling profit margins, with about 70 per cent of legal practices registering relatively small fee income growth over the past year. - The Times
Tesla Motors fired hundreds of workers after completing its annual performance reviews this week, even though the electric automaker is trying to ramp up production to meet the demand for its new Model 3 sedan. The Palo Alto-based company confirmed the cuts in a statement on Saturday but did not disclose how many of its 33,000 workers were jettisoned. - Guardian | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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