Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Friday, 20 October 2017 10:53:32 Monitor Quote Charts News CFD's Compare Brokers Free BB   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 climb as Trump Trade looks back on London stocks pinged higher on Friday to wipe out losses from the previous session as the pound was weaker against the dollar after the US Senate approved a budget plan for 2018. At 0825 BST, FTSE 100 had gained 0.36% to 7,550.22, with sterling losing 0.3% against the greenback at 1.3123 but up 0.2% on the euro at 1.1123. On Thursday, the Senate agreed a budget blueprint for fiscal 2018 allowing Republicans to pursue a tax-cut package without the need for Democratic support. This deal essentially paves the way for a $1.5tn US tax cut package and, said analyst Mike van Dulken at Accendo Markets: "would represent the first major reform from President Trump’s administration following several stumbles, seen as supportive of US growth, Fed rate hikes and, of course, equity markets." As the London session develops the pound is likely to be buffeted by soundbites from the EU 27 summit in Brussels where Brexit will be discussed after UK PM May’s apparent lack of success in trying break the deadlock on negotiations. Pressure on the pound was also coming from diminishing expectations for a November rate hike, after Wednesday's decline in real wages, poor retail sales and comments overnight from Bank of England deputy governor Jon Cunliffe that cast further doubt on a November rate hike, as he argued that the UK is "not seeing sustained signs of domestic inflation pressure".  Events in Spain will also be getting a side-eye, with a Saturday cabinet meeting in Madrid following on from the threat to re-imposing direct rule on Catalonia following the autonomous region’s referendum. Data-wise the public finances will be announced at 0930 BST, with public sector borrowing forecast to be slightly higher in September, continuing to increase again following the mid-year seasonal improvement. Across the Channel, the eurozone current account is expected to show a smaller August deficit, reversing much of its recent rise, back around the 2017 average, with a potential knock-on for the single currency. Looking at individual shares, mining heavyweights were leading the charge, with Anglo American, Antofagasta, Rio Tinto,  Glencore and BHP Billiton top of the leaderboard. Fresnillo was a faller, however, after being downgraded by Credit Suisse. Barclays was higher as a Berenberg upgrade came as news emerged that Red Kite, a hedge fund specialising in metals investments, was reported to have filed an $850m lawsuit against the bank, accusing it of causing it vast losses by front-running its trades in the copper market. On the downside was Acacia Mining, a day after a deal to resolve its dispute with the Tanzanian government sent its shares shooting higher. The gold miner reported revenue down 40% for the third quarter and a much diminished cash balance. InterContinental Hotels Group was lower despite reporting a third quarter of “good” performance, with revenue per available room up 2.3%. This meant for the year-to-date, revpar edged up 2.2% from 2.1% in the first half, including 1.5% in the second quarter. 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) 7,543.40 0.27% FTSE 250 (MCX) 20,164.97 0.17% techMARK (TASX) 3,559.77 0.17% FTSE 100 - Risers Antofagasta (ANTO) 1,014.00p 2.68% easyJet (EZJ) 1,320.00p 1.93% Anglo American (AAL) 1,455.50p 1.71% Rio Tinto (RIO) 3,653.00p 1.46% Glencore (GLEN) 382.45p 1.28% Standard Chartered (STAN) 758.30p 1.28% CRH (CRH) 2,781.00p 1.27% Kingfisher (KGF) 306.80p 1.19% Rentokil Initial (RTO) 317.50p 1.11% G4S (GFS) 278.20p 1.05% FTSE 100 - Fallers Reckitt Benckiser Group (RB.) 6,736.00p -0.80% Unilever (ULVR) 4,265.50p -0.78% Land Securities Group (LAND) 982.00p -0.61% Hammerson (HMSO) 535.50p -0.56% Randgold Resources Ltd. (RRS) 7,450.00p -0.53% InterContinental Hotels Group (IHG) 4,078.00p -0.51% British Land Company (BLND) 608.00p -0.41% Coca-Cola HBC AG (CDI) (CCH) 2,583.00p -0.39% Whitbread (WTB) 3,965.00p -0.35% Mondi (MNDI) 1,895.00p -0.26% FTSE 250 - Risers Evraz (EVR) 323.40p 2.21% Spire Healthcare Group (SPI) 252.00p 2.02% Renewi (RWI) 102.00p 2.00% Ferrexpo (FXPO) 278.90p 1.90% Kaz Minerals (KAZ) 847.50p 1.68% Vedanta Resources (VED) 886.00p 1.66% Marshalls (MSLH) 470.20p 1.47% Daejan Holdings (DJAN) 6,180.00p 1.31% Petrofac Ltd. (PFC) 419.30p 1.28% Dixons Carphone (DC.) 186.40p 1.25% FTSE 250 - Fallers Brown (N.) Group (BWNG) 318.60p -2.18% Acacia Mining (ACA) 207.60p -2.08% IWG (IWG) 212.00p -1.99% FDM Group (Holdings) (FDM) 988.00p -1.98% Computacenter (CCC) 991.50p -1.83% IP Group (IPO) 141.00p -1.40% Thomas Cook Group (TCG) 118.60p -1.33% Auto Trader Group (AUTO) 357.40p -1.27% Polypipe Group (PLP) 417.70p -1.21% Mitchells & Butlers (MAB) 245.00p -1.13% US Market Report US Close: Markets Little Changed On Black Monday Anniversary Wall Street's main averages finished mixed but little changed on Thursday, as traders booked some profits on the 30th anniversary of the 1987 Black Monday US stock market crash. The Dow Jones Industrial Averagefinished up 0.02% at 23,163.04 and the S&P 500 was ahead 0.03% at 2,562.10, while the Nasdaq 100 lost 0.36% to settle at 6,092.62. On the economic front, initial jobless claims fell by 22,000 over the week ending on 14 October to reach 222,000 - a new cycle low and the least since 1973. “Once the hurricane distortions fade, we expect the trend in payroll growth to revert to a sustained 200K-plus, which will push the unemployment rate very close to 3.5% by this time next year,” noted Ian Shepherdson at Pantheon Macroeconomics. The Federal Reserve Bank of Philadelphia's manufacturing sector gauge rose to 27.9 in October from a reading of 23.8 for September, which economists said reflected strength in factory activity outside of those regions impacted by recent hurricanes. Lastly, the Conference Board's index of leading economic indicators dipped 0.% month-on-month, against a consensus forecast for 0.1%. On the corporate front, Philip Morris International was in the red by 3.87% after its quarterly earnings and sales missed expectations, but Travelers Companies was in the black by 2.45% after better-than-expected quarterly earnings and revenue. Elsewhere, Alcoa was 2.53% weaker after its quarterly earnings fell short of analysts’ expectations, while United Continental Holdingsflew 12.04% lower despite an earnings beat. American Express was on the back foot, losing 0.2% despite better-than-expecting earnings and an upgrade to guidance. So were shares of Hewlett Packard Enterprise, which lost 5.75% after the company's management detailed its outlook for the rest of the year at an Analyst Day meeting. Genuine Parts Company was another big faller, plunging 8.51% after the parts retailer cut its profit guidance for the full-year. Verizon Communications was also in focus, rising 1.17% after in-line earnings, while Corbus Pharmaceuticals rocketed 10% on the back of positive results from a phase 2 trial of its autoimmune disease drug. Dow Jones - Risers Travelers Company Inc. (TRV) $133.17 3.51% General Electric Co. (GE) $23.58 1.99% Verizon Communications Inc. (VZ) $49.23 1.71% Nike Inc. (NKE) $52.72 1.33% Johnson & Johnson (JNJ) $142.06 0.89% International Business Machines Corp. (IBM) $160.93 0.88% Merck & Co. Inc. (MRK) $63.75 0.84% Walt Disney Co. (DIS) $99.02 0.78% 3M Co. (MMM) $219.25 0.69% McDonald's Corp. (MCD) $166.51 0.67% Dow Jones - Fallers Apple Inc. (AAPL) $155.98 -2.37% Procter & Gamble Co. (PG) $91.63 -1.27% Goldman Sachs Group Inc. (GS) $240.03 -0.84% Visa Inc. (V) $107.05 -0.46% Intel Corp. (INTC) $40.09 -0.40% Boeing Co. (BA) $259.02 -0.38% Exxon Mobil Corp. (XOM) $82.74 -0.27% Unitedhealth Group Inc. (UNH) $203.36 -0.26% American Express Co. (AXP) $91.90 -0.20% Home Depot Inc. (HD) $163.24 -0.07% S&P 500 - Risers Adobe Systems Inc. (ADBE) $171.73 12.24% Danaher Corp. (DHR) $90.10 4.71% DaVita Inc (DVA) $58.74 3.98% Robert Half International Inc. (RHI) $50.92 3.96% United States Steel Corp. (X) $27.67 3.94% Ryder System Inc. (R) $82.74 3.68% Travelers Company Inc. (TRV) $133.17 3.51% Endo International Plc (ENDP) $7.88 3.01% Martin Marietta Mtrl (MLM) $209.53 2.97% H&R Block Inc. (HRB) $25.55 2.86% S&P 500 - Fallers United Continental Holdings Inc. (UAL) $59.78 -11.45% Genuine Parts Co. (GPC) $89.71 -8.50% Transocean Ltd. (RIG) $10.16 -5.84% Hewlett Packard Enterprise (HPE) $13.84 -5.27% Royal Caribbean Cr (RCL) $121.18 -4.75% Vornado Realty Trust (VNO) $74.85 -4.38% Dover Corp. (DOV) $89.50 -4.35% Philip Morris International Inc. (PM) $108.23 -3.92% Skyworks Solutions Inc. (SWKS) $103.32 -3.75% Omnicom Group Inc. (OMC) $72.96 -3.48% Nasdaq 100 - Risers Adobe Systems Inc. (ADBE) $171.73 12.24% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $204.62 3.15% Viacom Inc. Class B (VIAB) $26.53 2.75% Discovery Communications Inc. Class C (DISCK) $18.97 2.37% Discovery Communications Inc. Class A (DISCA) $20.09 2.34% Mylan Inc. (MYL) $38.29 2.08% Gilead Sciences Inc. (GILD) $81.59 1.97% Dentsply International Inc. (XRAY) $60.67 1.97% Comcast Corp. (CMCSA) $36.90 1.93% Express Scripts Holding Co (ESRX) $58.75 1.70% Nasdaq 100 - Fallers Ctrip.Com International Ltd. Ads (CTRP) $49.80 -8.24% Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $54.17 -5.74% Skyworks Solutions Inc. (SWKS) $103.32 -3.75% Liberty Global Plc Lilac Class C (LILAK) $21.31 -3.22% Mercadolibre Inc. (MELI) $236.00 -2.64% Apple Inc. (AAPL) $155.98 -2.37% JD.com, Inc. (JD) $39.38 -2.33% Liberty Global Plc Lilac Class A (LILA) $21.29 -2.29% Tesla Inc (TSLA) $351.81 -2.18% Liberty Global plc Series A (LBTYA) $31.74 -2.04% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 13.16 2 BP. BP Plc 5.59 3 RDSB Royal Dutch Shell Plc B Shares 4.54 4 HSBA HSBC Holdings plc 2.77 5 LGEN Legal & General Group plc 2.33 6 BARC Barclays plc 2.18 7 SSE SSE plc 2.08 8 UKOG UK Oil & Gas Investments plc 1.63 9 DGE Diageo plc 1.38 10 SMT Scottish Mortgage Investment Trust 1.35 Number of Deals Sold Place EPIC Equity name % 1 UKOG UK Oil & Gas Investments plc 3.19 2 JOG Jersey Oil & Gas plc 3.05 3 BOO Boohoo.com 2.06 4 GGP Greatland Gold Plc 1.73 5 PFG Provident Financial plc 1.71 6 LLOY Lloyds Banking Group plc 1.40 7 IQE IQE plc 1.16 8 BP. BP Plc 0.99 9 GLEN Glencore plc 0.89 10 FRR Frontera Resources Corp 0.84 Newspaper Round Up Friday Newspaper Round-Up: Pensions, HBOS, Royal Mail, M&S Mortgages One of the most ambitious IT projects ever undertaken in financial services, to provide individuals with an online “pensions dashboard” covering all the schemes they may have, has been given the go ahead by the government. The Department for Work and Pensions is aiming to bring all the 64m different pension pots in Britain under one roof so that individuals can see all their entitlements in one place. – Guardian The acquisition of HBOS was a “unique opportunity” for Lloyds Banking Groupand regarded by its directors as in shareholders’ best interests, the high court has been told. Helen Davies, QC for Lloyds, opened the bank’s defence on Thursday by telling the court that a £600m claim for compensation by disgruntled investors was based on “myths and misconceptions” and that the deal was undertaken after advice from a list of advisers which ran to 50 pages. – Guardian A senior boss from the Communication Workers Union (CWU) has said he would rather "smash Royal Mail to bits" than back down over a dispute over pensions. Terry Pullinger, who is deputy general secretary of the CWU, made the comments on Thursday during a rally for postal workers in central London. - Telegraph You will soon be able to buy a house with Marks & Spencer, after the retail giant’s banking arm announced plans to launch a mortgage range. The company better known for selling groceries and underwear will roll out its first mortgage products early next year, subject to regulatory approval. - Telegraph The Barclay brothers are expected to collect a dividend of up to £200 million from Shop Direct as part of a refinancing of the digital retailer. Sir David and Sir Frederick have launched a £700 million bond issue after scrapping a £3 billion auction of the company behind shopping websites such as very.co.uk, veryexclusive.co.uk and littlewoods.com. – The Times The Bank of England threatened to stop Lloyds using its cheap funding scheme if Lloyds did not make its own loan to stricken rival HBOS, according to court documents. Andrew Bailey, the Bank’s executive director of banking in 2008, said that Lloyds would only be able to use its Special Liquidity Scheme if it lent HBOS £7.5 billion, the papers filed at the High Court showed. – The Times   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