| | | | | | | 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 edge lower ahead of retail sales; Unilever drops on results London stocks edged lower in early trade on Thursday despite positive cues from the US, as investors kept a watchful eye on Spain and looked ahead to the release of UK retail sales data and the first day of the EU summit.
At 0840 BST, the FTSE 100 was off 0.3% to 7,521.04, while the pound was down 0.3% against the euro to 1.1169 and 0.2% weaker versus the dollar at 1.3185.
As deadline day arrived in Catalonia, CMC Markets analyst Michael Hewson highlighted the prospect that Spanish Prime Minister Mariano Rajoy could be forced to trigger article 155 of the Spanish constitution and seize direct control of the Barcelona parliament unless Catalan President Carlos Puigdemont clarifies what he meant in his speech last week.
"As if to pre-empt that, there were reports last night that any attempt to do that would prompt a declaration of independence in response. It's hard to see how this one can end well," Hewson said.
He added: "It's also EU summit day today and for all the talk of compromise there seems to be precious little of either coming from either side, with the EU side actually tightening up their guidelines when it comes to money. With nerves starting to fray on the part of business there is a concern that politicians on both sides are playing with fire. A hard Brexit would not only be damaging for the UK but also for Europe, and Ireland in particular."
Investors were also digesting steady economic data out of China. According to the National Bureau of Statistics, third-quarter GDP growth was 6.8% compared to the same period a year ago, in line with expectations.
Meanwhile, September industrial production and retail sales from the People's Republic came in at 6.6% and 10.3% respectively, both beating expectations, while investment growth grew at its slowest rate in 18 years.
On the UK data front, retail sales are due at 0930 BST.
In corporate news, Unilever retreated as its sales growth fell short of expectations for the third quarter, with turnover negative, though the consumer goods colossus returned to volume growth after five quarters of price-driven expansion.
Property investment and development company Segro slipped despite saying it saw solid rental growth in the third quarter, while Schroders also lost some ground despite posting a 9% jump in assets under management and administration in the first nine months of the year.
London Stock Exchange was in the red as it reported an 18% rise in third-quarter revenue and said chief executive officer Xavier Rolet will step down next year.
Rentokil fell even though the royal ratcatcher reported a 13.7% rise in third-quarter ongoing revenue as the company's pest control division performed well.
Clothes retailer Next Group was hit by a downgrade to 'underperform' from 'sector perform' at at RBC Capital Markets, while BAE Systems and Intu were weaker as their shares were among those going ex-dividend.
IWG, the company formerly known as Regus, took a battering after it warned that 2017 profit is now expected to be materially below market expectations and in a range of £160m to £170m.
On the upside, equipment rental company Ashtead was boosted by some well-received third-quarter earnings from US peer United Rentals.
HomeServe edged higher after saying it plans to raise up to £125m to fund the acquisition of some of the trade and assets of the home assistance cover business of US-based Dominion, a wholly owned subsidiary of Dominion Energy.
Travis Perkins, the builders' merchant, rallied as it said it was on track to achieve full-year expectations despite a cautious outlook.
Domino's Pizza gained as it snapped up Germany's largest pizza chain Hallo Pizza into its local franchise joint venture. |
| | 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) 7,521.04 -0.29%
FTSE 250 (MCX) 20,205.79 -0.27%
techMARK (TASX) 3,555.28 -0.06%
FTSE 100 - Risers
Ashtead Group (AHT) 1,907.00p 1.76%
Pearson (PSON) 692.00p 0.73%
BT Group (BT.A) 273.05p 0.63%
Antofagasta (ANTO) 997.50p 0.50%
BP (BP.) 490.10p 0.43%
Smith & Nephew (SN.) 1,427.00p 0.42%
Experian (EXPN) 1,561.00p 0.39%
Severn Trent (SVT) 2,138.00p 0.38%
CRH (CRH) 2,733.00p 0.37%
SSE (SSE) 1,392.00p 0.36%
FTSE 100 - Fallers
Unilever (ULVR) 4,396.00p -3.35%
BAE Systems (BA.) 604.50p -1.79%
Smiths Group (SMIN) 1,545.00p -1.78%
Kingfisher (KGF) 304.60p -1.36%
WPP (WPP) 1,389.00p -1.35%
Convatec Group (CTEC) 214.00p -1.15%
London Stock Exchange Group (LSE) 3,878.00p -1.07%
Rentokil Initial (RTO) 309.80p -0.86%
British American Tobacco (BATS) 4,834.50p -0.74%
Imperial Brands (IMB) 3,143.00p -0.73%
FTSE 250 - Risers
Travis Perkins (TPK) 1,527.00p 3.74%
Sirius Minerals (SXX) 26.50p 2.91%
Brown (N.) Group (BWNG) 317.40p 2.62%
Grafton Group Units (GFTU) 845.00p 2.30%
Hochschild Mining (HOC) 232.10p 2.16%
Riverstone Energy Limited (RSE) 1,275.00p 2.00%
Dignity (DTY) 2,339.00p 1.87%
Marshalls (MSLH) 449.90p 1.74%
Inmarsat (ISAT) 621.50p 1.30%
OneSavings Bank (OSB) 413.40p 1.20%
FTSE 250 - Fallers
IWG (IWG) 215.70p -32.40%
Nex Group (NXG) 637.00p -2.90%
Intu Properties (INTU) 228.20p -2.69%
Grainger (GRI) 269.40p -2.07%
Rank Group (RNK) 225.70p -1.70%
Pets at Home Group (PETS) 187.30p -1.63%
Tritax Big Box Reit (BBOX) 145.90p -1.55%
Capita (CPI) 536.50p -1.47%
Senior (SNR) 280.90p -1.44% |
| | UK Event Calendar | | Thursday October 19
INTERIMS
Stobart Group Ltd.
INTERIM DIVIDEND PAYMENT DATE
Dairy Farm International Holdings Ltd (Bermuda), Dairy Farm International Holdings Ltd. (Jersey), Dairy Farm International Holdings Ltd. (Singapore), Duke Royalty Limited, Gamma Communications, GVC Holdings, Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdingd Ltd. (Jersey REG), Jardine Strategic Holdings Ltd. (Singapore), Mandarin Oriental International (Bermuda), Mandarin Oriental International (Jersey), Mandarin Oriental International (Singapore), TT Electronics
INTERIM EX-DIVIDEND DATE
Action Hotels, Amati Vct 2, BAE Systems, Burford Capital , Capita, Harvey Nash Group, Howden Joinery Group, ICG Enterprise Trust, Intu Properties, M. P. Evans Group, Marshalls, Mears Group, Menzies(John), Senior, Smart Metering Systems, Stilo International, Ted Baker, Walker Greenbank, Witan Pacific Inv Trust, Zegona Communications
QUARTERLY PAYMENT DATE
Fair Oaks Income Limited 2014 Shs NPV, Fair Oaks Income Limited 2017 Shs NPV
QUARTERLY EX-DIVIDEND DATE
City of London Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (13:30)
Q3
Unilever
FINALS
Tristel
SPECIAL EX-DIVIDEND DATE
ProVen Growth & Income VCT, ProVen VCT
AGMS
BHP Billiton, PCI-PAL, Rank Group
TRADING ANNOUNCEMENTS
Travis Perkins
UK ECONOMIC ANNOUNCEMENTS
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Joules Group, Oxford Instruments
FINAL EX-DIVIDEND DATE
Fidelity Asian Values, Henderson EuroTrust, Smiths Group, Wilmington
|
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: All eyes on EU summit, Spain Stocks have started the morning trading lower, with investors focused on the summit of European Union heads of state later in the day and events in Spain given the looming deadline for Catalan officials to make their intentions clear.
Against that backdrop, as of 0831 BST, the benchmark Stoxx 600 was down by 0.26% or 1.01 points to 390.55, while Germany's Dax was off by 0.15% or 20.0 points at 13,023.48, alongside a dip of 0.11% on Spain's Ibex 35 to 10,263.00.
Commenting on what was at stake in Brussels, Michael Hewson, chief market analyst at CMC Markets UK, said: "It's also EU summit day today and for all the talk of compromise there seems to be precious little of either coming from either side, with the EU side actually tightening up their guidelines when it comes to money. With nerves starting to fray on the part of business there is a concern that politicians on both sides are playing with fire. A hard Brexit would not only be damaging for the UK but also for Europe, and Ireland in particular."
Regarding Spain, according to local reports Catalan officials continued to play 'cat and mouse' with authorities in Madrid. According to La Vanguardia, on Wednesday evening the centrist nationalist PDECat party closed ranks behind regional president Carles Puigdemont's push for independence.
Puigdemont was also reportedly set to send a second letter to the Spanish PM on Thursday morning stating that he would 'reactivate' the up until now suspended declaration of independence if Madrid used Article 155 of the country's constitution in order to impose a return to legality.
For their part, the main political parties in Madrid decided overnight to 'de facto' extend a third deadline to Puigdemont as it would take several days to obtain approval from the Spanish Congress to apply Article 155, most likely between 27 October and 31 October, El Mundo reported. The prior deadline had been Thursday at 1000 CET.
On the economic calendar for the current session was the summit of EU 27 leaders later in the day, alongside a reading on consumer confidence in Belgium due out at 1300 BST.
Stateside, the main release on traders' radar would be the so-called Philly Fed manufcaturing sector survey for October at 1330 BST.
Meanwhile, in the corporate space, German battery-maker Varta began trading in Frankfurt following an IPO that saw its shares priced to go at €17.5, at the to end of the indicative range.
Pernod Ricard announced stronger-than-expected underlying sales for its first fiscal quarter of 5.7% thanks to strong demand in China and the US.
Carrefour on the other hand saw revenue growth slow over the three months to September, chiefly as a result of soft demand in France. |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Dow clears 23,000 mark as IBM surges Gains for Big Blue on the back of its latest quarterly numbers pushed the Dow clear of the 23,000 point mark on Wednesday, with investors very much focused on the steady stream of corporate results coming out.
The Dow Jones Industrial Average finished up 0.7% at 23,157.60, the S&P 500 added 0.07% to 2,561.26 and the Nasdaq 100 closed 0.13% softer at 6,114.35.
Shares of IBM rocketed 8.86% for their biggest one-day price move since January 2001.
"Looking back at previous instances of stretched valuations one of the common denominators on a historical basis has been a feeling of euphoria, a sentiment which is largely absent at this point in time," said Michael Hewson at CMC Markets UK.
"That's not to say investors are complacent, some undoubtedly are but when we've had substantial corrections on previous occasions the rotation of capital has always had an alternative destination to go to in terms of government bonds.
"These are nowhere near as attractive now, interest rates, and bond yields were much higher in 2007, 1997 and 1987, while today they are anchored to the floor, which limits investor options in terms of returns."
On Wednesday morning Dallas Fed chief Robert Kaplan sounded a 'dovish' note, saying that the so-called 'neutral' interest rate lay at about 2.5%, adding that there was potential for it to be lower due to declines in long-term GDP growth.
In other economic news, a key indicator of homebuilding activity in the States fell back for a third consecutive month in September, although some economists brushed off the data, saying they expected to see at least a partial rebound in coming months.
US housing starts fell by 4.7% month-on-month in September to reach an annualised pace of 1.127m, according to the Department of Commerce.
That fell well short of the 1.18m pace of starts projected by economists.
Back on the corporate side of things, some observers were critical of the quality of IBM's earnings, arguing that they had much to do with the multinational's ability to dodge taxes, the fact was that its latest set of financials soundly beat forecasts from analysts on the Street.
For its third quarter, IBM posted earnings per share of $3.30 on adjusted basis, against consensus expectations for $2.84, and on the back of $19.15bn in revenues, ahead of expectations for $18.61bn.
Also in the spotlight, chip-maker Micron Technology rose 3.12% after it announced plans to redeem $2.25bn of debt via recently raised funds and from cash on hand.
Dow Jones - Risers
International Business Machines Corp. (IBM) $159.53 8.86%
Goldman Sachs Group Inc. (GS) $242.02 2.52%
Intel Corp. (INTC) $40.25 1.16%
Travelers Company Inc. (TRV) $130.00 1.06%
Unitedhealth Group Inc. (UNH) $205.23 0.66%
Nike Inc. (NKE) $52.30 0.58%
Caterpillar Inc. (CAT) $131.27 0.57%
Boeing Co. (BA) $260.04 0.55%
Verizon Communications Inc. (VZ) $48.65 0.52%
Merck & Co. Inc. (MRK) $63.50 0.46%
Dow Jones - Fallers
Chevron Corp. (CVX) $118.15 -1.72%
Pfizer Inc. (PFE) $35.83 -1.02%
Apple Inc. (AAPL) $159.76 -0.44%
General Electric Co. (GE) $23.12 -0.30%
Coca-Cola Co. (KO) $46.41 -0.26%
Exxon Mobil Corp. (XOM) $82.76 -0.24%
United Technologies Corp. (UTX) $119.18 -0.15%
Cisco Systems Inc. (CSCO) $33.55 -0.15%
Walt Disney Co. (DIS) $98.23 -0.11%
Johnson & Johnson (JNJ) $140.69 -0.08%
S&P 500 - Risers
International Business Machines Corp. (IBM) $159.53 8.86%
Assurant Inc. (AIZ) $101.80 6.20%
AbbVie Inc (ABBV) $95.96 4.20%
Northern Trust Corp. (NTRS) $94.58 3.82%
Micron Technology Inc. (MU) $41.65 3.12%
Lam Research Corp. (LRCX) $200.49 3.05%
Host Hotels & Resorts Inc. (HST) $19.85 2.64%
Goldman Sachs Group Inc. (GS) $242.02 2.52%
Discovery Communications Inc. Class A (DISCA) $19.63 2.45%
Discovery Communications Inc. Class C (DISCK) $18.53 2.43%
S&P 500 - Fallers
Allergan plc (AGN) $187.16 -5.37%
Tenet Healthcare Corp. (THC) $12.97 -4.63%
Transocean Ltd. (RIG) $10.30 -4.45%
Chipotle Mexican Grill Inc. (CMG) $318.24 -3.36%
Viacom Inc. Class B (VIAB) $25.82 -2.82%
Mylan Inc. (MYL) $37.51 -2.67%
Electronic Arts Inc. (EA) $113.16 -2.43%
Range Resources Corp. (RRC) $18.99 -2.31%
Southwestern Energy Co. (SWN) $5.48 -2.15%
M&T Bank Corp. (MTB) $160.61 -2.14%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $242.41 3.25%
Micron Technology Inc. (MU) $41.65 3.12%
Lam Research Corp. (LRCX) $200.49 3.05%
Discovery Communications Inc. Class A (DISCA) $19.63 2.45%
Discovery Communications Inc. Class C (DISCK) $18.53 2.43%
Expedia Inc. (EXPE) $152.28 2.11%
J.B. Hunt Transport Services Inc. (JBHT) $104.45 1.97%
Idexx Laboratories Inc. (IDXX) $163.05 1.91%
JD.com, Inc. (JD) $40.32 1.84%
Dish Network Corp. (DISH) $49.71 1.76%
Nasdaq 100 - Fallers
Biomarin Pharmaceutical Inc. (BMRN) $88.62 -5.26%
Shire Plc Ads (SHPG) $146.29 -3.79%
Viacom Inc. Class B (VIAB) $25.82 -2.82%
Mylan Inc. (MYL) $37.51 -2.67%
Electronic Arts Inc. (EA) $113.16 -2.43%
Alexion Pharmaceuticals Inc. (ALXN) $140.24 -2.04%
Netflix Inc. (NFLX) $195.54 -1.98%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $57.47 -1.95%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $198.37 -1.93% |
| | Newspaper Round Up | | Thursday newspaper round-up: Low pay, Lloyds, Bombardier, BP Britain's low pay culture traps people in poorly paid jobs and prevents them from escaping into full-time work with better pay, according to a major study by the government-backed body that tracks social mobility. Only one in six workers on low pay managed in the last 10 years to push themselves up the pay ladder and stay there, while most remained stuck in a cycle of part-time and insecure jobs. - Guardian
The chancellor has asked UK enforcement agencies to look into whether British banking groups HSBC and Standard Chartered are linked to South Africa's corruption inquiry into alleged ties between the wealthy Gupta family and President Jacob Zuma. According to letters seen by the Guardian, Philip Hammond has passed concerns raised by former Labour cabinet minister Peter Hain to the Serious Fraud Office(SFO), National Crime Agency (NCA) and the Financial Conduct Authority (FCA). - Guardian
Lloyds Banking Group "mugged" shareholders by withholding vital information about the "catastrophic" financial state of HBOS prior to its takeover in the teeth of the financial crisis, the High Court has heard. Richard Hill QC, acting for 6,000 shareholders suing Lloyds for £600m in losses they claim were incurred due to the HBOS deal, said in court: "We are saying shareholders were mugged in this acquisition and should never have been kept in the dark." - Telegraph
Norway's $1 trillion sovereign wealth fund has joined a growing number of critics to the proposals made by the UK financial watchdog that will ease rules for companies listing in London - a move widely seen as an attempt to lure oil giant Saudi Aramco to float in Britain. In July, the Financial Conduct Authority proposed launching a new category in its "premium" listings, exempting state-controlled companies from certain requirements. The changes to listing rules would cover relations between the company and its controlling shareholder, and whether smaller shareholders get to vote on independent directors. - The Telegraph
Ministers are to be urged to show solidarity with workers at the Bombardier aerospace factory in Northern Ireland and select the C-Series aircraft, part-built in Belfast, as the new jet for the Queen's Flight. It is also understood that the slow-selling C-Series, which has been rescued by a deal with Airbus this week after being caught up in a transatlantic trade row with Boeing and the US government, could be close to nearly tripling orders thanks to a big contract with Qatar Airways. - The Times
There will be no billion-dollar bets on green energy by BP because it is too early to tell which technologies will triumph, Bob Dudley has said. The oil major's chief executive said that it had learnt lessons from its dash into renewables and low-carbon technologies two decades ago under Lord Browne of Madingley, who led the company's "Beyond Petroleum" rebrand. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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