Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Monday, 23 October 2017 10:24:15 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 dip down in quiet start to busy week London stocks nudged lower in early trade amid a lack of market-moving news, with the economic calendar set to get busier later in the week. At 0855 BST, the FTSE 100 was down 0.1% to 7,514.55, while the pound was flat against the dollar at 1.3190 and up 0.2% versus the euro at 1.1217. Spreadex analyst Connor Campbell said: “UK and US Q3 GDP readings! The latest ECB rate vote and press conference! A slew of manufacturing and services PMIs! There’s so much stuff to look forward to this week - sadly none of it is today, with the markets having little reason to crawl out of bed this Monday.” On the data front, the CBI industrial trends survey is at 1100 BST, while third-quarter UK GDP is due out on Wednesday. In corporate news, Spire Healthcare surged after rejecting a cash-and-shares offer from South Africa's Mediclinic International. Mediclinic, which already owns a 29.9% stake in its FTSE 250 peer, offered 150p cash and 0.232 new shares for each Spire share, which equated to an offer valued at 298.6p per share. GKN racked up strong gains following a Sunday Times report that the company is looking to split its aerospace and auto operations and as Liberum upgraded the stock to ‘hold’ from ‘sell’. Waste-to-product business Renewi surged after saying results for the year are expected to be “significantly above” its previous expectations following a particularly strong performance in September. Electra Private Equity rallied as it said that after completing a strategic review, it has decided "current market conditions do not support new investment" and so proposed handing back most of its cash and dropping its focus on private equity to become "more flexible". AstraZeneca advanced after the FDA approved a new formulation of its type-2 diabetes treatment Bydureon and as it and Merck & Co submitted a new drug application to Japan's Pharmaceuticals and Medical Devices Agency for the use of Lynparza tablets in unresectable or recurrent BRCA-mutated breast cancer. GlaxoSmithKline was flat as it said that the US Food and Drug Administration has approved Shingrix for the prevention of shingles in adults over 50. CRH was in the black after getting approval from Ash Grove Cement shareholders for its $3.5bn acquisition of the US cement manufacturer. Essentra gained after saying trading in the third quarter showed modest like-for-like revenue growth for the overall group. On the downside, Capita edged lower after confirming that the sale of its Asset Services businesses to Link Administration should complete a week on Friday. Auto Trader and Inchcape declined after peer Pendragon warned that full-year profit will be hit by weaker new car demand and pricing on used cars. Pendragon shares tanked 20% on the warning. 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 Integrity - Excellence - Innovation Market Movers FTSE 100 (UKX) 7,514.55 -0.12% FTSE 250 (MCX) 20,103.12 -0.22% techMARK (TASX) 3,547.48 -0.00% FTSE 100 - Risers GKN (GKN) 312.30p 2.93% CRH (CRH) 2,830.00p 1.43% BT Group (BT.A) 273.05p 0.81% Shire Plc (SHP) 3,704.50p 0.73% British American Tobacco (BATS) 4,882.00p 0.67% Merlin Entertainments (MERL) 377.50p 0.67% Pearson (PSON) 699.00p 0.65% Imperial Brands (IMB) 3,159.00p 0.61% Centrica (CNA) 174.10p 0.58% Burberry Group (BRBY) 1,916.00p 0.58% FTSE 100 - Fallers Standard Chartered (STAN) 763.40p -1.13% Barclays (BARC) 193.50p -1.12% St James's Place (STJ) 1,166.00p -0.85% SEGRO (SGRO) 544.50p -0.82% BHP Billiton (BLT) 1,373.00p -0.76% Royal Bank of Scotland Group (RBS) 280.30p -0.71% Antofagasta (ANTO) 993.00p -0.70% Hammerson (HMSO) 525.50p -0.66% Mediclinic International (MDC) 636.50p -0.62% BP (BP.) 488.85p -0.62% FTSE 250 - Risers Spire Healthcare Group (SPI) 290.40p 11.14% Renewi (RWI) 105.60p 7.15% Electra Private Equity (ELTA) 1,785.00p 3.48% Essentra (ESNT) 514.00p 2.29% PayPoint (PAY) 945.50p 2.27% SSP Group (SSPG) 578.00p 1.94% Softcat (SCT) 498.80p 1.69% Tate & Lyle (TATE) 642.00p 1.50% Cairn Energy (CNE) 197.90p 1.18% Rotork (ROR) 260.70p 1.12% FTSE 250 - Fallers Inchcape (INCH) 790.00p -3.72% Acacia Mining (ACA) 190.00p -2.46% Provident Financial (PFG) 916.00p -2.03% St. Modwen Properties (SMP) 379.60p -1.94% Nostrum Oil & Gas (NOG) 377.40p -1.72% IWG (IWG) 215.20p -1.65% Brown (N.) Group (BWNG) 307.00p -1.63% Inmarsat (ISAT) 613.50p -1.52% Unite Group (UTG) 701.00p -1.27% Big Yellow Group (BYG) 788.00p -1.25% 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 UK Event Calendar Monday October 23 INTERIMS Braemar Shipping Services INTERIM DIVIDEND PAYMENT DATE Worldpay Group AGMS City of London Investment Group, Goldplat TRADING ANNOUNCEMENTS Petra Diamonds Ltd.(DI) UK ECONOMIC ANNOUNCEMENTS CBI Industrial Trends Surveys (11:00) US Market Report US close: S&P 500 notches up sixth weekly gain in a row, as investors come off sidelines Wall Street continued to climb the proverbial 'wall of worry' as Senate approval of the White House's budget resolution for fiscal year 2018, which many believe paves the way for tax cuts, powered the S&P 500 to a sixth consecutive weekly gain. Overnight, Senate republicans approved the resolution with 51 votes in favour and 49 against, possibly handing the Trump administration its first significant legislative victory, opening the way to increase the government deficit by $1.5trn over the next decade in part to finance the tax reductions. However, the measure approved by the Senate needed to be reconciled with a different proposal from the House of Representatives, a process which some observers blieved might take as long as two weeks. Against that backdrop, by the close of trade in New York the Dow Jones Industrial Average was ahead by 0.71% or 165.59 points at 23,308.63, alongside a gain of 0.51% or 13.11 points on the S&P 500 to 2,575.21 and a 0.36% advance to 6,629.05 for the Nasdaq Composite. Worth noting, there were possible signs of investors 'warming' to equities, with data from EPFR showing $8.4bn-worth of inflows over the week to 18 October, the first back-to-back gains since March, Bloomberg reported. From a sector standpoint, the best performing industry groups at the end of the week were: Electronic office equipment (3.04%), Aluminum (2.99%) and Footwear (2.56%). In parallel, the US dollar spot index was climbing 0.47% to 93.7 and near a one-month high, alongside a seven basis point advance on the 10-year US government bond yield to 2.39%. To take note of, as a group shares in banks were also sportng hefty gains, with the KBW sector index trading up by 1.58% to 101.17. Investors were also likely to be eyeing reports that Trump favours Federal Reserve Governor Jerome Powell as the next Fed chairman. According to Politico, Powell was the leading candidate to become the chair of the US central bank after Trump concluded a series of meetings with five finalists on Thursday. CMC Markets's Michael Hewson said: "US markets opened at new record highs today, after another record close for the Dow last night, as speculation around the new head of the Federal Reserve continues to gain traction, while the prospect of tax cuts and/or tax reform helped put another floor under US stocks after some initial weakness in early trade yesterday." On the economic front, the National Association of Realtors reported a 0.7% rise in existing home sales for the month of September to reach an annualised pace of 5.39m (consensus: 5.30m). Nevertheless, NAR chief economist Lawrence Yun described the gain as "meagre", complaining of a lack of listing and "fast-rising" prices which were crimping budgets. Versus a year ago existing home sales fell by 1.5%. In corporate news, stock in General Electric recovered from early weakness after the company’s third-quarter earnings missed expectations, with profits taking a hit from restructuring costs. Procter&Gamble's shares tumbled after the consumer goods giant posted lower than expected fiscal first quarter revenues of $16.65bn. Elsewhere, PayPal Holdings was in the black after quarterly earnings and revenue on Thursday surpassed expectations, while Skechers surged after an earnings beat late on Thursday. Dow Jones - Risers Boeing Co. (BA) $264.69 2.20% Unitedhealth Group Inc. (UNH) $207.48 2.03% Goldman Sachs Group Inc. (GS) $244.73 1.98% Cisco Systems Inc. (CSCO) $34.25 1.48% JP Morgan Chase & Co. (JPM) $99.50 1.43% United Technologies Corp. (UTX) $120.93 1.21% Wal-Mart Stores Inc. (WMT) $87.43 1.20% Microsoft Corp. (MSFT) $78.81 1.16% General Electric Co. (GE) $23.83 1.06% 3M Co. (MMM) $221.29 0.94% Dow Jones - Fallers Procter & Gamble Co. (PG) $88.25 -3.65% Coca-Cola Co. (KO) $46.37 -0.45% Caterpillar Inc. (CAT) $131.33 -0.14% McDonald's Corp. (MCD) $166.28 -0.12% E.I. du Pont de Nemours and Co. (DD) $83.93 -0.00% Travelers Company Inc. (TRV) $133.32 0.11% Home Depot Inc. (HD) $163.37 0.12% Apple Inc. (AAPL) $156.25 0.17% Merck & Co. Inc. (MRK) $63.88 0.20% American Express Co. (AXP) $92.09 0.21% S&P 500 - Risers Tenet Healthcare Corp. (THC) $14.66 9.65% Under Armour Inc. Class A (UAA) $17.48 6.26% Dover Corp. (DOV) $94.95 6.09% Paypal Holdings Inc (PYPL) $70.97 5.53% Signet Jewelers Ltd (SIG) $65.97 4.85% Macy's Inc. (M) $21.17 4.83% Ralph Lauren Corp (RL) $90.41 4.62% Synchrony Financial (SYF) $33.04 4.19% L Brands Inc (LB) $43.75 4.12% Urban Outfitters Inc. (URBN) $24.63 3.84% S&P 500 - Fallers Celgene Corp. (CELG) $121.33 -10.76% Procter & Gamble Co. (PG) $88.25 -3.65% Church Dwight Co Inc. (CHD) $46.18 -2.29% Schlumberger Ltd. (SLB) $63.15 -2.12% Transocean Ltd. (RIG) $9.95 -2.07% Endo International Plc (ENDP) $7.72 -2.03% Host Hotels & Resorts Inc. (HST) $19.46 -1.87% Kimberly-Clark Corp. (KMB) $113.44 -1.83% Clorox Co. (CLX) $127.77 -1.81% Regeneron Pharmaceuticals Inc. (REGN) $432.98 -1.81% Nasdaq 100 - Risers Paypal Holdings Inc (PYPL) $70.97 5.53% Maxim Integrated Products Inc. (MXIM) $52.09 3.99% Liberty Global Plc Lilac Class C (LILAK) $22.04 3.43% Intuitive Surgical Inc. (ISRG) $369.58 3.39% Liberty Global Plc Lilac Class A (LILA) $21.99 3.29% Illumina Inc. (ILMN) $209.88 2.29% Adobe Systems Inc. (ADBE) $175.64 2.28% Lam Research Corp. (LRCX) $205.34 2.17% Idexx Laboratories Inc. (IDXX) $164.71 1.94% Dentsply International Inc. (XRAY) $61.84 1.93% Nasdaq 100 - Fallers Celgene Corp. (CELG) $121.33 -10.76% Ctrip.Com International Ltd. Ads (CTRP) $48.35 -2.91% Tesla Inc (TSLA) $345.10 -1.91% Regeneron Pharmaceuticals Inc. (REGN) $432.98 -1.81% Shire Plc Ads (SHPG) $145.25 -1.74% T-Mobile Us, Inc. (TMUS) $60.46 -1.71% O'Reilly Automotive Inc. (ORLY) $205.90 -1.62% Starbucks Corp. (SBUX) $54.57 -1.50% Biogen Inc (BIIB) $338.10 -1.26% Alexion Pharmaceuticals Inc. (ALXN) $139.02 -1.03% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 UKOG UK Oil & Gas Investments plc 4.57 2 MERL Merlin Entertainments plc 4.07 3 GGP Greatland Gold Plc 3.86 4 IRV Interserve plc 1.93 5 CTEC ConvaTec Group Plc 1.67 6 VAST Vast Resources plc 1.66 7 SXX Sirius Minerals plc 1.64 8 ULVR Unilever plc 1.23 9 LLOY Lloyds Banking Group plc 1.22 10 SMT Scottish Mortgage Investment Trust 0.99 Number of Deals Sold Place EPIC Equity name % 1 UKOG UK Oil & Gas Investments plc 3.75 2 GGP Greatland Gold Plc 3.17 3 LLOY Lloyds Banking Group plc 2.01 4 IRV Interserve plc 1.27 5 VAST Vast Resources plc 1.26 6 SXX Sirius Minerals plc 1.19 7 BOO Boohoo.com 1.11 8 IQE IQE plc 0.91 9 BP. BP Plc 0.84 10 BT.A BT Group plc 0.79 Newspaper Round Up Monday newspaper round-up: Budget crunch, wages, manufacturers, GKN, Spire, BT Philip Hammond has been warned by cabinet colleagues that he faces an ambush on the budget from Tories who want him out. Senior government figures fear that the chancellor has become so toxic that he does not have sufficient authority to get difficult measures through the Commons. - The Times The Great British wage squeeze may at last be coming to an end, economists believe, as inflation reaches its peak and wages gradually start to pick up. Prices have outstripped wages so far this year with inflation at 3pc in the 12 months to September, its fastest pace in more than five years. - Telegraph Britain’s manufacturers are putting the brakes on investment plans as uncertainty over Brexit makes them more reluctant to spend money on new factories and machinery, a report reveals. The amount invested by UK manufacturers in new plant and machinery has slowed to 6.5% of turnover, from 7.5% last year, according to a survey by EEF, the industry trade body, as companies press the pause button until there is further clarity on a Brexit deal. - Guardian Cash-strapped Britons are taking the inflation-driven squeeze on incomes in their stride as they grow more confident about their job prospects, according to a survey. Consumer confidence has improved for the first time in a year and is close to levels recorded during the recovery years of 2014 and 2015, a quarterly survey by Deloitte has found. - The Times Two of Britain’s biggest energy companies have called on Philip Hammond to strengthen a carbon tax that has driven a dramatic collapse in coal power generation, arguing it is essential for the shift to cleaner energy. SSE, the UK’s second largest energy supplier, and Drax, which runs the country’s biggest power station in North Yorkshire, urged the chancellor to use his autumn budget to shed light on the tax’s fate into the 2020s. - Guardian The subsidy bill for new offshore wind farms is likely to be almost 50 per cent higher than the government has forecast because officials have overestimated future wholesale prices, research suggests. Last month ministers awarded subsidy contracts to support three big offshore wind farms by guaranteeing them a price for every megawatt-hour of power they generate for 15 years. - The Times An important report assessing the viability of new “mini” nuclear power plants for the UK to be published this week is expected to give the green light to develop designs proposed by a British consortium led by Rolls-Royce. The Department for Business, Energy and Industrial Strategy (BEIS) is set to issue a study which formally ends a competition between different types of low-carbon power generation to assess which should be supported. - Telegraph One of Britain’s biggest engineering groups is looking at plans to split itself in two. Analysts are increasingly convinced that GKN may separate its automotive and aerospace divisions in a move that could deliver investors a big windfall. - The Times Mediclinic International has opened talks with Spire Healthcare Group over an estimated £1.3 billion takeover of the private hospital chain, two years after acquiring a 29.9 per cent stake. The FTSE 100 private healthcare group, which is based in South Africa but also has operations in the Middle East and Switzerland, is expected to issue a statement today confirming its approach for Spire. - The Times The Government has intervened in a row over wholesale charges for broadband, backing BT's network subsidiary Openreach in its battle against cheaper prices. Karen Bradley, the Culture Secretary, wrote to Sharon White, the chief executive of Ofcom, suggesting she should rethink charge controls that Openreach argues will undermine its ability to invest in new "ultra-fast" broadband infrastructure. - Telegraph More than 300 new breweries were launched in the UK last year as a boom in craft beer sales encouraged startups with specialist offers ranging from gluten-free beer to ale made from leftover bread. Growth in sales of craft beer in both pubs and supermarkets has encouraged more people interested in home brewing to raise money and open their own microbreweries. - Guardian NHS patients will be urged to stop asking GPs for antibiotics in the first ever television campaign to prevent a bacterial ‘apocalypse’. Around 5,000 people in England die each year because antibiotics have become resistant to some infections and experts predict resistance will kill more people than cancer and diabetes combined within 30 years. - Telegraph   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