Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Monday, 23 October 2017 18:38:34 Monitor Quote Charts News CFD's Compare Brokers Free BB   Prime Centrum 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 London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks end little changed despite weak reading on industry London stocks reversed an earlier small loss to trade slightly higher by the close of trading on Monday despite resilience in the pound against the greenback even after the release of weaker-than-expected data on industrial trends. The FTSE 100 was up by 0.02% to 7,524.45 with the pound 0.12% higher against the dollar to 1.3198 after the latest survey from the Confederation of British Industry showed growth in UK manufacturing activity unexpectedly softened in the three months to October, while business optimism fell for the first time in a year. Sterling was also up on the euro at 1.1225 amid worries about the situation in Catalonia. The CBI's factory order book balance fell to -2 from +7 in September, missing expectations for a jump to +9 and marking its lowest level since November. The softening was driven by a sharp slowdown in activity in the food, drink and tobacco sector, in particular, but was also relatively broad-based, with 14 out of 17 sub-sectors registering a deterioration in output compared to the previous quarter. Nevertheless, growth in October remained far above the long-run average. Meanwhile, export order growth also slowed, while output expectations fell to +19 from +28. The survey also found that optimism about business conditions fell for to -11 from +5. Still, Pantheon Macroeconomics economist Samuel Tombs said demand likely hasn't deteriorated as sharply as the survey suggests. "The total orders balance is comprised of manufacturers reporting whether orders are above or below ‘normal’. The balance is not seasonally adjusted, and it has fallen- by six points on average - in all but three Octobers during the last 40 years. Even so, our seasonally adjusted version of the CBI’s orders balance fell to +4 in October - its lowest level since December - from +7 in September." In corporate news, Spire Healthcare surged after rejecting a cash-and-shares offer from larger rival 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. GlaxoSmithKline was lower even after it said that the US Food and Drug Administration has approved Shingrix for the prevention of shingles in adults over 50. Similarly, AstraZeneca was down in tandem despite 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. 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'. 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". 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. 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. Capita edged down after it said it expects to complete the sale of its Asset Services businesses to Link Administration 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. IWG was hit by a downgrade to 'neutral' from 'outperform' at Credit Suisse. 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 Market Movers FTSE 100 (UKX) 7,524.45 0.02% FTSE 250 (MCX) 20,126.86 -0.10% techMARK (TASX) 3,545.18 -0.07% FTSE 100 - Risers GKN (GKN) 319.00p 5.14% Micro Focus International (MCRO) 2,521.00p 2.19% Associated British Foods (ABF) 3,375.00p 1.50% Centrica (CNA) 175.70p 1.50% Fresnillo (FRES) 1,385.00p 1.32% BT Group (BT.A) 274.05p 1.18% Smiths Group (SMIN) 1,573.00p 1.16% Ferguson (FERG) 5,350.00p 1.04% National Grid (NG.) 935.20p 1.02% CRH (CRH) 2,818.00p 1.00% FTSE 100 - Fallers Mediclinic International (MDC) 623.00p -2.73% ITV (ITV) 171.90p -1.72% RSA Insurance Group (RSA) 631.00p -1.56% Hammerson (HMSO) 521.00p -1.51% Morrison (Wm) Supermarkets (MRW) 232.20p -1.28% British Land Company (BLND) 603.50p -1.15% Royal Bank of Scotland Group (RBS) 279.10p -1.13% Informa (INF) 683.00p -1.01% Old Mutual (OML) 195.20p -1.01% Tesco (TSCO) 187.05p -0.98% FTSE 250 - Risers Spire Healthcare Group (SPI) 301.00p 15.19% Renewi (RWI) 103.80p 5.33% Softcat (SCT) 516.00p 5.20% Sophos Group (SOPH) 603.50p 4.32% Just Eat (JE.) 717.00p 2.72% Cairn Energy (CNE) 200.70p 2.61% Homeserve (HSV) 850.00p 2.47% Vedanta Resources (VED) 890.50p 2.42% SSP Group (SSPG) 580.00p 2.29% Marshalls (MSLH) 480.20p 2.17% FTSE 250 - Fallers Acacia Mining (ACA) 186.30p -4.36% IWG (IWG) 212.00p -3.11% Workspace Group (WKP) 883.00p -3.07% St. Modwen Properties (SMP) 376.60p -2.71% 3i Infrastructure (3IN) 202.10p -2.65% Inchcape (INCH) 799.00p -2.62% Vectura Group (VEC) 100.70p -2.61% Virgin Money Holdings (UK) (VM.) 293.80p -2.55% Paragon Banking Group (PAG) 462.40p -2.39% Hikma Pharmaceuticals (HIK) 1,170.00p -2.34% Who pockets your portfolio's profits? You or your broker? Make sure you’re not paying too much for your portfolio’s account admin by choosing fixed over percentage-based fees. Capital at risk. Read more Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe midday: Stocks turn higher as German exporters balance Catalonia angst 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% 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 US Market Report US open: Stocks pause at record highs Wall Street was trading on a mixed note in the early going on Monday, albeit after record closes during the previous session with sentiment underpinned by optimism over Trump’s tax plans as investors look ahead to more earnings releases. At 1501 BST, the Dow Jones Industrial Average was ahead by 0.08% or 18.78 points to 23,347.41, alongside a dip of 0.02% or 0.39 points to 2,574.82 for the S&P 500 while the Nasdaq Composite was off by 0.25% or 16.66 points to 6,612.70. Craig Erlam, senior market analyst at Oanda, said: "sentiment remains very positive as we head into a key week for corporate earnings. "With 185 S&P 500 companies due to report on the third quarter this week, earnings will naturally be a key factor when it comes to the sustainability of the stock market rally. Global risk appetite remains strong though and investors are becoming increasingly optimistic about the economic outlook. Add tailwinds such as US tax reform into the mix and despite lingering geopolitical and political risks, the rally may have some way to go yet." There was little in the way of fresh economic data to be had aside from the Federal Reserve bank of Chicago's national activity index. The three-month moving average for the gauge was steady in September at a reading of -0.16. On the corporate front, disk-drive manufacturer Seagate Technology was in the headlines, with shares up 9% after company published adjuster earnings per share of 96 cents for its fiscal first quarter (consensus: 86 cents). The company's shares were nevertheless still nursing significant losses for the year-to-date. Netflix on the other hand was a drag on markets after unveiling plans to issue $1.6bn of senior debt to fund its content acquisition goals. Celgene was one of the top fallers after abandoning three clinical trials for its GED-0301 therapy for Crohn's disease. In parallel, stock in CarMax was slightly lower after telling investors it would add 2,000 staff before the year was out. Elsewhere, electric car maker Tesla was in the black following a report it has reached an agreement to set up its own manufacturing facility in Shanghai. Cisco Systems was also in focus after a Bloomberg report that the company was close to buying software company BroadSoft. There are no speeches due from Fed officials on Monday. Dow Jones - Risers Nike Inc. (NKE) $53.91 1.60% Home Depot Inc. (HD) $165.55 1.30% American Express Co. (AXP) $92.97 0.96% Merck & Co. Inc. (MRK) $64.34 0.72% Wal-Mart Stores Inc. (WMT) $88.01 0.65% Johnson & Johnson (JNJ) $143.21 0.57% Pfizer Inc. (PFE) $36.60 0.49% Intel Corp. (INTC) $40.60 0.43% Cisco Systems Inc. (CSCO) $34.40 0.43% Exxon Mobil Corp. (XOM) $83.42 0.37% Dow Jones - Fallers General Electric Co. (GE) $22.94 -3.73% Procter & Gamble Co. (PG) $87.79 -0.52% McDonald's Corp. (MCD) $165.51 -0.48% Walt Disney Co. (DIS) $98.97 -0.43% Goldman Sachs Group Inc. (GS) $243.81 -0.37% Unitedhealth Group Inc. (UNH) $206.92 -0.27% International Business Machines Corp. (IBM) $161.68 -0.24% Boeing Co. (BA) $264.17 -0.22% Visa Inc. (V) $107.35 -0.19% Caterpillar Inc. (CAT) $131.27 -0.07% S&P 500 - Risers Seagate Technology Plc (STX) $38.27 9.53% VF Corp. (VFC) $71.19 7.25% DaVita Inc (DVA) $61.53 3.66% PVH Corp. (PVH) $132.79 3.49% L Brands Inc (LB) $45.17 3.25% First Solar Inc. (FSLR) $49.06 2.79% Signet Jewelers Ltd (SIG) $67.69 2.62% Dr Pepper Snapple Group Inc. (DPS) $91.28 2.53% Kansas City Southern (KSU) $107.35 2.05% Western Digital Corp. (WDC) $88.18 2.04% S&P 500 - Fallers Hasbro Inc (HAS) $90.35 -7.98% Mattel Inc. (MAT) $15.21 -4.76% Hartford Financial Services Group Inc. (HIG) $54.12 -4.20% General Electric Co. (GE) $22.94 -3.73% Mallinckrodt Plc Ordinary Shares (MNK) $31.31 -3.42% State Street Corp. (STT) $95.80 -3.35% Biogen Inc (BIIB) $330.13 -2.36% Spectra Energy Corp. (SE) $15.90 -2.22% United Rentals Inc. (URI) $141.89 -1.74% Endo International Plc (ENDP) $7.59 -1.68% Nasdaq 100 - Risers Seagate Technology Plc (STX) $38.27 9.53% Western Digital Corp. (WDC) $88.18 2.04% T-Mobile Us, Inc. (TMUS) $61.61 1.90% Intuitive Surgical Inc. (ISRG) $376.08 1.76% Automatic Data Processing Inc. (ADP) $117.57 1.41% Dollar Tree Inc (DLTR) $93.47 1.19% Celgene Corp. (CELG) $122.66 1.10% QUALCOMM Inc. (QCOM) $52.59 1.10% Wynn Resorts Ltd. (WYNN) $145.98 1.07% Hologic Inc. (HOLX) $37.36 0.95% Nasdaq 100 - Fallers Hasbro Inc (HAS) $90.35 -7.98% Mattel Inc. (MAT) $15.21 -4.76% Biogen Inc (BIIB) $330.13 -2.36% Mercadolibre Inc. (MELI) $231.27 -1.89% Biomarin Pharmaceutical Inc. (BMRN) $86.32 -1.63% Discovery Communications Inc. Class C (DISCK) $18.97 -1.53% Discovery Communications Inc. Class A (DISCA) $19.99 -1.48% Alexion Pharmaceuticals Inc. (ALXN) $136.99 -1.46% Adobe Systems Inc. (ADBE) $173.49 -1.22% Liberty Global plc Series C (LBTYK) $30.35 -1.08% 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   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