| | | | | | | 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 lower but Millennium & Copthorne surges on deal news London stocks nudged a touch lower in early trade on Monday on what was expected to be a fairly quiet start to the week, although deal news for Millennium & Copthorne livened up the proceedings a little.
At 0845 BST, the FTSE 100 was down 0.1% to 7,519.05, while the pound was up 0.4% against the euro and the dollar at 1.1188 and 1.3115, respectively, recovering from losses last week on the back of political uncertainty.
Sterling was taking advantage of Monday's "bone dry" economic calendar as an opportunity to claw back some of last week's losses, said Spreadex analyst Connor Campbell.
"One could argue that such a data-less day would only throw a harsher spotlight on the latest round of Tory turmoil. Predictably the weekend's papers were full of reports of party infighting, with one group urging Theresa May to say goodbye to Boris Johnson, and another, more Brexity cabal attacking the pro-EU Chancellor Phillip Hammond.
"However, sterling seems to have steeled itself somewhat over the weekend, calming the value-eroding jitters that plagued last Thursday and Friday. Perhaps the fact that nothing more dramatic happened - no resignations or comments from Johnson etc - has eased some of the currency's fears."
With no major UK data releases due, investors were digesting the latest services figures out of China.
The Caixin services purchasing managers' index showed non-manufacturing activity in China expanded at its slowest levels in almost two years last month. The PMI printed at 50.6 compared to 52.7 in August. Meanwhile, the Caixin composite PMI came in at 51.4 from 52.4 in August.
In corporate news, AstraZeneca ticked higher after its osimertinib treatment for first-line treatment of patients with advanced metastatic non-small cell lung cancer was given 'breakthrough therapy designation' by the US drug regulator.
Lancashire Holdings advanced as it estimated net losses from hurricanes Harvey, Irma and Maria, and the two recent earthquake loss events in Mexico would be in a range of $106m to $212m after anticipated recoveries from its outwards reinsurance programme, and the impact of outwards and inwards reinstatement premiums.
Centamin shone after reporting record third-quarter gold production at its Sukari mine in Egypt.
Millennium & Copthorne surged after City Developments, which is part of Singaporean billionaire Kwek Leng Beng's Hong Leong Group, offered to buy the remaining shares in the company in a deal that values it at around £1.8bn.
Going the other way, medical technology business Smith & Nephew was in the red after announcing that chief executive Olivier Bohuon will retire by the end of 2018 after seven years in the role.
Wood Group slipped as it started trading as an enlarged company after completing its merger with Amec Foster Wheeler, making assuring noises about integration and expected cost savings.
BT and TalkTalk were under the cosh after Citigroup downgraded its ratings on both stocks, while Centrica took a hit after Goldman Sachs cut its earnings per share estimates for the utility.
However, Telecom Plus was lifted by an upgrade to 'outperform' at RBC Capital Markets. |
| | 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) 7,519.05 -0.05%
FTSE 250 (MCX) 20,184.41 0.09%
techMARK (TASX) 3,551.40 0.01%
FTSE 100 - Risers
Centrica (CNA) 177.00p 1.43%
ITV (ITV) 179.60p 1.07%
Fresnillo (FRES) 1,437.00p 0.91%
British American Tobacco (BATS) 4,818.50p 0.77%
Severn Trent (SVT) 2,173.00p 0.70%
Randgold Resources Ltd. (RRS) 7,480.00p 0.67%
SSE (SSE) 1,379.00p 0.58%
Babcock International Group (BAB) 833.00p 0.48%
Hargreaves Lansdown (HL.) 1,499.00p 0.47%
InterContinental Hotels Group (IHG) 4,111.00p 0.44%
FTSE 100 - Fallers
Smith & Nephew (SN.) 1,371.00p -1.51%
Anglo American (AAL) 1,463.50p -1.18%
Rio Tinto (RIO) 3,666.50p -1.17%
Tesco (TSCO) 186.95p -0.77%
BT Group (BT.A) 281.10p -0.72%
easyJet (EZJ) 1,254.00p -0.71%
Antofagasta (ANTO) 991.00p -0.65%
Glencore (GLEN) 364.70p -0.60%
WPP (WPP) 1,399.00p -0.57%
NMC Health (NMC) 2,824.00p -0.49%
FTSE 250 - Risers
Millennium & Copthorne Hotels (MLC) 550.00p 20.88%
Telecom Plus (TEP) 1,170.00p 4.56%
Ted Baker (TED) 2,841.00p 4.45%
Hochschild Mining (HOC) 226.50p 3.24%
Man Group (EMG) 175.20p 2.52%
Centamin (DI) (CEY) 148.80p 2.34%
Acacia Mining (ACA) 188.30p 2.23%
Ascential (ASCL) 352.00p 1.82%
Metro Bank (MTRO) 3,475.00p 1.76%
PayPoint (PAY) 971.00p 1.68%
FTSE 250 - Fallers
TalkTalk Telecom Group (TALK) 209.60p -2.65%
TP ICAP (TCAP) 531.00p -1.67%
Kaz Minerals (KAZ) 813.00p -1.45%
Halfords Group (HFD) 339.10p -1.42%
Polypipe Group (PLP) 404.40p -1.15%
Restaurant Group (RTN) 307.90p -1.03%
Diploma (DPLM) 1,089.00p -1.00%
Fisher (James) & Sons (FSJ) 1,531.00p -0.97%
Hastings Group Holdings (HSTG) 302.30p -0.92% |
| | Market Analysis 09/10/2017 Today’s highlights: USD smashes Turkish Lira - Wall Street ends week lower: After an 8-day winning streak, the S&P 500 closed lower on Friday, joined by the Dow Jones. The trend reversal is attributed to disappointing job data released on Friday. At the same time, the Nasdaq ended the week in slight gains.
- Turkish Lira tumbles 4%: Following an announcement on Friday by the US government, which said it is suspending visa services in its embassy in Ankara, the Dollar jumped against the Turkish Lira, rising more than 4% overall.
Read More... |
| | UK Event Calendar | | Monday October 09
INTERIM DIVIDEND PAYMENT DATE
Hammerson
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (GER) (07:00)
Q3
Centamin (DI), XP Power Ltd. (DI)
FINALS
CAP-XX Limited, Plant Impact, YouGov
IMSS
City of London Investment Group
EGMS
Vietnam Infrastructure Limited Private Eqty Shs
AGMS
1pm, Avengardco Investments Public Ltd GDR
TRADING ANNOUNCEMENTS
Trinity Mirror
FINAL DIVIDEND PAYMENT DATE
Henderson Smaller Companies Inv Trust, UniVision Engineering Ltd. |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Spanish stocks extend bounce European equity markets have started the morning moving slightly higher, with Spanish stocks extending the bounce seen at the end of the previous week amid slight hopes of a political solution to the current impasse between regional authorities in Catalonia and the central government.
As of 0819 BST, the benchmark Stoxx 600 was ahead by 0.38% or 1.47 points at 390.94, alongside gains of 0.33% or 17.74 points to 5,377.64 for the Cac-40 and a rise of 0.30% or 38.87 points to 12,994.81 in the German Dax.
Spain's Ibex 35 on the other hand was up by 0.92% or 93.80 points to 10,275.10.
At the weekend, almost 1.0m people (350,000 according to local authorities) marched through Barcelona in defence of Spanish unity. That was followed on Monday morning by a call from Catalan foreign affairs spokesman, Raul Romeva, for dialogue.
"We need two to tango, we need the other side to be at the table", Romeva told Bloomberg News in an interview. His remarks came on the heels of Catalan president Carles Puigdemont saying, the day before, that he was still planning to push ahead with a declaration of independence.
Nevertheless, some observers saw Romeva's remarks as hint of an olive branch to Madrid.
Commenting on the situation in Catalonia, analysts at Barclays Research said Saturday's demonstrations in Barcelona made a unilateral declaration of independence "marginally less likely".
In any case, whether or not Puigdemont were to renounce making a unilateral declaration of independence or opted instead to go ahead, leading Madrid to suspend some of the region's autonomy, snap regional elections in Catalonia were now the most likely scenario, Barclays said.
Meanwhile, in all things Brexit, the 5th round of negotiations between the European Union and the UK was set to kick-off on Monday, with the EU's lead trade negotiator, Michel Barnier, due to make a determination regarding whether "sufficient progress" has been made before the 19 October EU summit.
Industrial production in Germany jumped by 2.6% month-on-month in August, led by a 4.8% rise in output of capital goods, according to the Ministry of Finance, dwarfing forecasts for an increase of 0.8%.
Speaking to Handelsblatt, Credit Agricole boss Philippe Brassac said the lender would be interested in Commerzbank if it were put on the auction block.
France's Accor has offered £920m (£701m) for Mantra Group as it seeks to merge the two largest hotel owners Down Under. |
| | US Market Report | | US close: Stocks end on mixed note as markets digest September jobs report Wall Street finished on a slightly mixed note but off its session lows following the release of data showing an unexpected sharp drop in the country's jobless rate to its lowest since January 2001 and amid some reports of potential new missile tests by North Korea.
At the closing bell, the Dow Jones Industrial Average was lower by 0.01% or 1.72 points to 22,773.67, alongside a dip of 0.11% or 2.74 points on the S&P 500 to 2,549.33 while the Nasdaq Composite was up 0.07% or 4.82 points at 6,590.18.
In parallel, the yield on the benchmark 10-year US Treasury note was higher by one basis points at 2.36% - after hitting an intraday high of 2.40% - with Fed funds futures left pricing in 90.1% odds of a 25 basis point rate hike by the central bank at its December meeting.
To take note of, although the analyst consensus was projecting a slowdown in S&P 500 constituents earnings to 3.6% in the third quarter, after growth of 11% over the prior three-month stretch, growth was seen re-accelerating over the next three quarters, according to Bloomberg data.
In economic news, although non-farm payrolls in the US shrank unexpectedly in September, dropping by 33,000, the first negative reading for seven years, unemployment fell from 4.4% to 4.2% - the lowest reading since January 2001.
Furthermore, wage growth accelerated to a 0.5% month-on-month clip (consensus: 0.3%), the Department of Labor said.
"Overall, this was a mixed report [...] We maintain our forecast that the FOMC will increase interest rates one more time this year in December, but we think that the Fed's reaction function will be data dependent and the inflation and employment reports of the coming months will play a significant role in its decision," said Blerina Uruci and Pooja Sriram at Barclays Research.
Aside from the data, investors were also scanning for remarks from various Fed speakers, including the head of the Federal Reserve bank of New York, William Dudley, who voiced supported for a continued withdrawal of policy accommodation.
In Dudley's case, on Friday morning he said: "Even though inflation is currently somewhat below our longer-run objective, I judge that it is still appropriate to continue to remove monetary policy accommodation gradually."
On the corporate front, Costco Wholesale was a big faller even after it posted better-than-expected quarterly profits and earnings.
From a sector standpoint, the best performance was seen in stocks within the following industrial groups: Automobiles (1.09%), Airlines (0.87%) and Restaurants (0.78%).
Netflix also rose after announcing it was raising the price of its two-screen high definition subscription from $9.99 to $10.99 and that for being able to watch on four screens and in ultra-high definition from $11.99 to $13.99.
For its part, Kellogg said it would acquire Rxbar for $600m
Elsewhere, Yum Brands spin-off Yum China Holdings was also in focus after announcing its first dividend and an increased share buyback plan.
Stock in data operator Switch jumped 22.6% in its market debut.
Dow Jones - Risers
Travelers Company Inc. (TRV) $125.07 0.51%
McDonald's Corp. (MCD) $159.60 0.50%
Cisco Systems Inc. (CSCO) $33.75 0.48%
Visa Inc. (V) $106.73 0.46%
Nike Inc. (NKE) $52.42 0.46%
American Express Co. (AXP) $91.51 0.43%
Caterpillar Inc. (CAT) $126.94 0.42%
Procter & Gamble Co. (PG) $92.31 0.33%
Intel Corp. (INTC) $39.63 0.25%
Pfizer Inc. (PFE) $36.05 0.14%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $48.81 -1.93%
Chevron Corp. (CVX) $117.02 -1.31%
General Electric Co. (GE) $24.39 -0.61%
Wal-Mart Stores Inc. (WMT) $78.99 -0.52%
Exxon Mobil Corp. (XOM) $81.71 -0.38%
JP Morgan Chase & Co. (JPM) $96.92 -0.18%
International Business Machines Corp. (IBM) $146.48 -0.16%
Home Depot Inc. (HD) $165.85 -0.16%
Boeing Co. (BA) $258.41 -0.12%
Merck & Co. Inc. (MRK) $64.55 -0.08%
S&P 500 - Risers
Motorola Solutions Inc (MSI) $89.43 4.00%
Under Armour Inc. Class A (UAA) $17.02 2.96%
Best Buy Co. Inc. (BBY) $58.77 2.21%
Applied Materials Inc. (AMAT) $52.40 1.89%
Netflix Inc. (NFLX) $198.02 1.87%
Vertex Pharmaceuticals Inc. (VRTX) $155.10 1.84%
Yum! Brands Inc. (YUM) $75.94 1.81%
Bristol-Myers Squibb (BMY) $64.81 1.58%
Boston Properties Inc. (BXP) $126.93 1.49%
American Airlines Group (AAL) $51.30 1.46%
S&P 500 - Fallers
Costco Wholesale Corp. (COST) $157.09 -5.97%
CVS Health Corp (CVS) $76.92 -4.92%
Nasdaq Inc (NDAQ) $73.90 -4.83%
TripAdvisor Inc. (TRIP) $41.61 -4.59%
Amerisource Bergen Corp. (ABC) $80.48 -4.33%
Southwestern Energy Co. (SWN) $5.93 -3.42%
Kansas City Southern (KSU) $103.74 -3.42%
Range Resources Corp. (RRC) $19.99 -2.87%
Mosaic Company (MOS) $21.02 -2.87%
Freeport-McMoRan Inc (FCX) $14.33 -2.85%
Nasdaq 100 - Risers
Applied Materials Inc. (AMAT) $52.40 1.89%
Netflix Inc. (NFLX) $198.02 1.87%
Vertex Pharmaceuticals Inc. (VRTX) $155.10 1.84%
American Airlines Group (AAL) $51.30 1.46%
T-Mobile Us, Inc. (TMUS) $62.41 1.45%
Regeneron Pharmaceuticals Inc. (REGN) $469.95 1.41%
NetEase Inc. Ads (NTES) $276.69 1.31%
Lam Research Corp. (LRCX) $184.83 1.10%
Skyworks Solutions Inc. (SWKS) $104.96 1.08%
Starbucks Corp. (SBUX) $55.17 1.04%
Nasdaq 100 - Fallers
Costco Wholesale Corp. (COST) $157.09 -5.97%
Walgreens Boots Alliance, Inc. (WBA) $73.20 -4.87%
Liberty Global Plc Lilac Class A (LILA) $24.66 -2.76%
Liberty Global Plc Lilac Class C (LILAK) $24.51 -2.58%
Express Scripts Holding Co (ESRX) $62.36 -2.58%
Tractor Supply Company (TSCO) $61.05 -2.24%
Liberty Interactive Corporation QVC Group (QVCA) $23.08 -2.08%
Wynn Resorts Ltd. (WYNN) $143.94 -2.05%
PACCAR Inc. (PCAR) $73.28 -1.94% |
| | Newspaper Round Up | | Monday newspaper round-up: ONS error, Brexit talks, BT, Just Eat Pressure on the Bank of England to raise interest rates may be building more rapidly than first thought after a mistake by the Office for National Statistics led to domestic inflation being understated. On Friday, the ONS published an error in one of the critical data points used by the Bank of England to gauge domestic price pressures. In a correction to be released today, the nation's official statisticians are expected to reveal that companies' employment costs have been rising faster than previously believed. - The Times
Theresa May will warn European leaders today that Britain will make no more concessions on Brexit until they compromise on opening trade and transition talks. The embattled prime minister will use a statement to the House of Commons to tell other member states that "the ball is in their court" as British negotiators return to Brussels. - The Times
Philip Hammond's Treasury has come under fire from a leading Conservative leave campaigner, who said that the gloomy outlook and "Brexit in name only" approach of the department risked scuppering the UK's EU exit. Bernard Jenkin's highly critical intervention came while other Tory MPs urged Theresa May to sack the chancellor, as those on the right of the party flexed their muscles following days of criticism of Boris Johnson and speculation about an autumn cabinet reshuffle. - Guardian
The financial sector is failing British industry and is the main cause of weak productivity, which should prompt the Treasury select committee to look at possible reforms, the Institute for Public Policy Research claims. Its report, Financing Investment: Reforming finance markets for the long-term, is also calling for the end of relief on stamp duty for market-makers as a first step to a tax on all financial transactions. - The Times
One of Britain's leading housing experts has issued a grave warning about the national housing crisis, claiming that current policies are more likely to exacerbate inequality and homelessness than solve the problem. In a damning assessment of policy, economist Dame Kate Barker has urged the Government to come up with new policies to help buyers and renters or there will never be enough houses built to keep prices down, she said. - Telegraph
Rents in Britain dropped in the final summer months for the first time in at least five years, according to Rightmove. National asking rents outside London fell by 0.2% in the three months to September, which is one of the busiest times of year for tenants looking for a new home. It was the first fall at this time of year since Rightmove started tracking rents in late 2011. - Guardian
Almost half a million more people will be classed as living in poverty during Theresa May's premiership, most of them in working households, unless she unpicks controversial benefit changes, an analysis has found. People in low-paid jobs face a harsher than expected squeeze because inflation has exacerbated the effects of a freeze on universal credit and other means-tested benefits. - The Times
Michael Gove is demanding that Britain pull out of Europe's common fisheries policy immediately after Brexit in a move that Brussels has warned could harm the prospects of a "no change" transition deal. The environment secretary is understood to have told the cabinet that fishing policy must be repatriated as soon as Britain leaves the European Union and not at the end of a two-year implementation period. - The Times
Nearly seven months after they voted in an election on 15 March, Dutch voters are to get a new government this week, local media have reported. The prime minister, Mark Rutte, is expected to present a rocky four-party coalition to parliament on Monday, 208 days after his liberal VVD party won the March polls. - Guardian
One of Britain's biggest property owners has predicted the death of the traditional shop, as it warns that most physical stores on the high street will be wiped out by the relentless rise of online shopping. Aviva Investors, which has £20 billion worth of property under management in the UK including several shopping centres, believes that store-based retail is set to "decline significantly". - The Times
A proposal from BT to spend up to £600 million connecting a million homes in rural areas with faster broadband has been attacked by rivals as a "secretive" backroom deal that risks cementing the company's monopoly grip on the industry. On the eve of an appearance before the Commons' culture, media and sport committee by Sharon White, chief executive of Ofcom, opponents have angrily criticised the plan, which ministers have been discussing since July. - The Times
Thousands of shops are likely to ignore the Royal Mint's deadline next Sunday to stop accepting the old £1 coins. A trade organisation, which represents 170,000 firms, has advised its members to continue taking the coin as the changeover period with the new coins has been so short. - Guardian
When Just Eat announced in December that it was buying its closest UK competitor for £240 million, David Buttress, then chief executive, declared: "We're confident this deal will be cleared. There are big benefits to restaurants and consumers." As the takeaway delivery company awaits the provisional findings of the Competition and Markets Authority's in-depth, or phase two, investigation into its proposed purchase of Hungryhouse, expected this week, experts and analysts are less certain. - The Times
The City of London Corporation has backed the proposed creation of a "super-court" in the Fleet Street area of the capital to replace all the existing court services in the City excluding the Old Bailey. The new court, within the boundaries of the Square Mile, would replace existing civil courts and the City of London magistrates' court on Queen Victoria Street. Its main focus would be on fraud, economic crime and cybercrime and it would draw on the expertise of technology, financial services and professional services firms within the City. - The Times
Heathrow's plans for a third runway have been delayed until at least the end of the year as the airport tries to cut £6 billion from the cost of the project. A report by the Civil Aviation Authority said that Heathrow's proposals would be published "no earlier" than December, suggesting that the process could slip into next year. - The Times
A civil war is brewing in the normally convivial craft beer fraternity, as anxiety grows about the threat posed by multinational companies' insatiable thirst for every last drop of the market. Heineken and Molson Coors are both "associate members" of the Society of Independent Brewers (Siba), a situation that rankles with some of its members. - Guardian
Companies that wish to challenge their business rates bills are due to face stricter time limits, the government has indicated, despite complaints that the appeals system is in disarray after a botched overhaul earlier in the year. The Department for Communities and Local Government has said that there are "clear benefits to introducing a cut-off point for appeals" as it looks to reduce what it sees as speculative challenges to bills that "waste public resources" and "cause uncertainty for local authorities". - The Times
Almost a million hospitality staff are among workers at risk of a retirement in poverty, a study of blackspots in the government's flagship pensions policy has shown. According to the TUC, as many as six in 10 workers in low-paid sectors such as retail and agriculture are not enrolled in a pension. - Guardian
The British arm of the digital media company Buzzfeed has lifted the lid on its finances for the first time, revealing rapidly increasing sales but mounting losses as it pursues international expansion. Buzzfeed UK's first set of full accounts, filed at Companies House, reveal that turnover more than doubled last year to reach £20.5m. The company was previously small enough to avoid having to publish detailed financial information. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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