Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 01 November 2017 10:29:12 Monitor Quote Charts News CFD's Compare Brokers Free BB   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 London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks edge higher ahead of manufacturing data; Next bucks trend London stocks edged higher in early trade on Wednesday as investors sifted through corporate news ahead of some key manufacturing data, although retailer Next bucked the trend after disappointing third-quarter results. At 0830 BST, the FTSE 100 was up 0.4% to 7,523.91, while the pound was up 0.2% versus the euro at 1.1422 and 0.1% firmer against the dollar at 1.3301. Spreadex analyst Connor Campbell said: "Now the FTSE and the pound just need to withstand the morning's UK manufacturing PMI. After smashing forecasts in July and August, September saw the PMI post fairly sizeable miss; it's expected to have continued to cool in October, with analysts forecasting a slight dip from 55.9 to 55.8 month-on-month (though estimates haven't been anywhere near accurate for a while)." Markit's manufacturing PMI is at 0930 GMT, while the Federal Reserve's latest policy announcement is at 1800 GMT, although no change to rates is expected. As far as the UK is concerned, the Bank of England will make its policy announcement on Thursday amid expectations of the first rate hike since 2007. A survey released earlier by Nationwide earlier revealed that UK house price growth ticked up a little to a three month high in October. House prices increased 2.5% on the year versus 2.3% in September, beating analysts' expectations for a slowdown to 2.2%. On the month, prices were up 0.2%, in line with expectations but down from 0.4%. In corporate news, Next was under the cosh after saying it continued to sustain declines in full price sales from its shops in the third quarter but thanks to strong online and catalogue growth the clothing retailer marched on towards its full year targets. Marks & Spencer and Primark owner Associated British Foods were also under pressure. Standard Chartered was also in the red after it posted adjusted pre-tax profit of $814m for the third quarter and operating income of $3.59bn, versus estimates of $3.64bn, while Just Group ticked lower as it posted a drop in total sales for the third quarter. On the upside, Paddy Power Betfair rallied after it said trading was good in the third quarter, prompting the bookmaker to make a small upgrade to its annual profit guidance. AstraZeneca was in the black after mixed news. The pharmaceuticals giant said the US Food and Drug Administration has granted accelerated approval to Calquence (acalabrutinib) - a kinase inhibitor indicated for the treatment of adult patients with mantle cell lymphoma who have received at least one prior therapy. However, the company also announced disappointing results for an asthma therapy it has been developing. Old Mutual edged higher after announcing that the strategic minority shareholding to be retained in South African banking firm Nedbank Group, to underpin the ongoing commercial relationship between the companies, has been agreed at 19.9%. Irish packaging company Smurfit Kappa advanced as it posted a rise in third-quarter revenue and announced acquisitions in Greece and Russia to expand the group's footprint. Indivior surged after the company's long-lasting treatment of opioid use disorder was recommended for approval by the US drug regulator's advisory body. Halma gained ground as it completed the acquisition of Mini-Cam from Lloyds Development Capital and a group of private shareholders for an initial cash consideration of £62m. CLS Holdings advanced after completing the disposal of Centenary Court in Bradford to a private investor for £14.35m. In broker note action, Pagegroup was boosted by an upgrade to 'buy' at Panmure Gordon, while G4S gained as Jefferies bumped it up to 'buy' and InterContinental Hotels was lifted by an upgrade to 'outperform' at Credit Suisse. On the downside, Debenhams was hit by a downgrade to 'sell' at Liberum. The student accommodation market is one of the most lucrative investments available, and developments like X1 The Campus which are on the university campus and located within easy reach of Manchester city centre are proving to be incredibly popular. Luxury apartments are available from £89,95 – enquire today! Market Movers FTSE 100 (UKX) 7,525.40 0.43% FTSE 250 (MCX) 20,406.63 0.88% techMARK (TASX) 3,559.31 0.94% FTSE 100 - Risers G4S (GFS) 294.00p 4.63% Paddy Power Betfair (PPB) 7,980.00p 3.57% Anglo American (AAL) 1,469.00p 3.45% Antofagasta (ANTO) 978.50p 2.51% BHP Billiton (BLT) 1,396.50p 2.50% Glencore (GLEN) 371.30p 2.29% InterContinental Hotels Group (IHG) 4,253.00p 1.94% Smurfit Kappa Group (SKG) 2,285.00p 1.83% Rio Tinto (RIO) 3,612.50p 1.80% AstraZeneca (AZN) 5,114.00p 1.63% FTSE 100 - Fallers Next (NXT) 4,624.00p -6.04% Standard Chartered (STAN) 710.90p -5.26% Marks & Spencer Group (MKS) 331.10p -3.78% Associated British Foods (ABF) 3,251.00p -2.43% Centrica (CNA) 167.20p -1.53% Rolls-Royce Holdings (RR.) 962.00p -1.13% British Land Company (BLND) 595.00p -1.00% Sainsbury (J) (SBRY) 240.10p -0.99% Tesco (TSCO) 179.75p -0.91% Land Securities Group (LAND) 957.50p -0.88% FTSE 250 - Risers Indivior (INDV) 411.90p 10.84% Ferrexpo (FXPO) 268.90p 5.78% Vedanta Resources (VED) 930.00p 4.73% Evraz (EVR) 300.10p 4.02% Tullow Oil (TLW) 188.90p 3.79% Kaz Minerals (KAZ) 841.00p 3.44% Halma (HLMA) 1,220.00p 3.21% Cairn Energy (CNE) 217.70p 2.98% Fisher (James) & Sons (FSJ) 1,600.00p 2.83% Hunting (HTG) 537.50p 2.67% FTSE 250 - Fallers Rank Group (RNK) 234.70p -1.35% Supergroup (SGP) 1,833.00p -1.13% Provident Financial (PFG) 921.00p -1.13% Royal Mail (RMG) 370.40p -1.07% Booker Group (BOK) 199.40p -0.89% Spire Healthcare Group (SPI) 294.70p -0.77% Vietnam Enterprise Investments (DI) (VEIL) 392.10p -0.66% Coats Group (COA) 85.00p -0.64% Pershing Square Holdings Ltd NPV (PSH) 1,020.00p -0.58% 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 UK Event Calendar Wednesday 01 November INTERIM DIVIDEND PAYMENT DATE Smith & Nephew, StatPro Group QUARTERLY PAYMENT DATE Mercantile Investment Trust (The) INTERNATIONAL ECONOMIC ANNOUNCEMENTS Construction Spending (US) (15:00) Crude Oil Inventories (US) (14:30) ISM Manufacturing (US) (14:00) ISM Prices Paid (US) (14:00) MBA Mortgage Applications (US) (11:00) Q3 Apax Global Alpha Limited , Smurfit Kappa Group IMSS Standard Chartered SPECIAL DIVIDEND PAYMENT DATE Next AGMS Greka Drilling Ltd (DI), South32 Limited (DI) , Stanley Gibbons Group, Thinksmart Limited (DI) TRADING ANNOUNCEMENTS Just Group, Millennium & Copthorne Hotels, Next, Paddy Power Betfair UK ECONOMIC ANNOUNCEMENTS BRC Shop Price Index (00:01) PMI Manufacturing (09:30) FINAL DIVIDEND PAYMENT DATE Smith (DS) 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 US Market Report US open: Wall Street set to finish October on a positive note Wall Street was trading slightly higher on the last day of October with investors digesting another slew of corporate results as the US central bank's two-day policy meeting got underway. Ahead of the Fed's rate announcement and alongside multiple strong readings on the economy, at 1515 GMT, the Dow Jones Industrial Average was ahead by 0.12% or 27.50 points at 23,375.93, while the S&P 500 was ahead by 0.14% or 3.70 points to 2,576.52 with the Nasdaq Composite 0.40% or 26.47 points firmer at 6,725.64. From a sector standpoint, the strongest performance was being seen in the following industry groups: Paper (2.03%), Food products (1.90%) and Forestry & Paper (1.68%). On the economic front, the Chicago NAPM's regional manufacturing purchasing managers' index shot higher in October to reach a reading of 66.2 (consensus: 60.0). Those figures came alongside the results of the Conference Board's latest consumer confidence survey which picked up to a level of 125.9 (consensus: 121.0) - its best print since December 2000. In corporate news, shares of healthcare insurer Aetna were slipping despite reporting third-quarter earnings that beat expectations and lifting its 2017 guidance, while snack maker Mondelez was on the front foot after it reported better-than-expected third-quarter profit late on Monday. IBM was also in the spotlight after the technology stalwart unveiled a $3.0bn share buyback programme. Chip-maker Micron Technology was one of the most wanted stocks, even on the back of already hefty gains year-to-date which had seen its shares almost double in value. Earlier on Tuesday, the company announced deals with two Chinese outfits, including Shenzhen Security and Protection Industry Association, to accelerate deployment of new products in Asia. Valeant Pharmaceuticals was on the up too after the company said it is on track to pay down more than $5bn in debt ahead of its previous 2018 goal. Going the other way, Under Armour was getting riddled by sell orders on the heels of lower-than-expected third-quarter revenue due to weaker North American demand and as the apparel retailer cut its full-year outlook. General Electric was also among the most traded issues on the NYSE, amid 'market chatter' referencing the conglomerate's expected 13 November meeting with investors. Pfizer stock was down even after its third-quarter profit figures failed to impress and the company raised its 2017 earnings outlook. Qualcomm shares were unloved following reports that Apple could ditch the company's components in next year's iPhones, while Archer Daniels was in focus after the agricultural commodities processor posted third-quarter earnings per share of 34 cents versus 58 cents a year ago. Hormel Foods found a bid after agreeing to buy salami maker Columbus Manufacturing for around $850m. Dow Jones - Risers Intel Corp. (INTC) $45.60 2.76% Apple Inc. (AAPL) $169.00 1.37% Travelers Company Inc. (TRV) $132.66 1.22% McDonald's Corp. (MCD) $167.32 1.17% United Technologies Corp. (UTX) $120.03 0.81% Chevron Corp. (CVX) $114.34 0.70% Boeing Co. (BA) $258.08 0.63% Goldman Sachs Group Inc. (GS) $242.63 0.38% Cisco Systems Inc. (CSCO) $34.13 0.26% International Business Machines Corp. (IBM) $153.72 0.03% Dow Jones - Fallers Merck & Co. Inc. (MRK) $55.44 -4.81% General Electric Co. (GE) $20.16 -3.03% Verizon Communications Inc. (VZ) $47.82 -2.15% Pfizer Inc. (PFE) $34.85 -2.10% Johnson & Johnson (JNJ) $139.29 -1.76% 3M Co. (MMM) $230.93 -1.62% Caterpillar Inc. (CAT) $135.70 -1.53% Nike Inc. (NKE) $55.22 -1.33% Unitedhealth Group Inc. (UNH) $209.94 -1.25% Home Depot Inc. (HD) $165.96 -0.83% S&P 500 - Risers Mosaic Company (MOS) $22.60 7.93% Endo International Plc (ENDP) $6.43 7.80% Micron Technology Inc. (MU) $44.35 6.49% Rockwell Automation Inc. (ROK) $200.75 6.34% Tenet Healthcare Corp. (THC) $14.20 6.21% CenturyLink Inc. (CTL) $18.49 5.75% Wynn Resorts Ltd. (WYNN) $149.28 5.71% LyondellBasell Industries (LYB) $104.65 5.70% Mondelez International Inc. (MDLZ) $41.51 5.62% Spectra Energy Corp. (SE) $14.74 5.21% S&P 500 - Fallers Under Armour Inc. Class A (UAA) $13.57 -15.40% Mattel Inc. (MAT) $14.24 -8.57% Mylan Inc. (MYL) $35.47 -7.24% QUALCOMM Inc. (QCOM) $50.97 -6.75% H&R Block Inc. (HRB) $24.77 -5.71% Archer-Daniels-Midland Co. (ADM) $40.62 -5.70% United States Steel Corp. (X) $24.99 -5.48% SCANA Corp. (SCG) $43.95 -5.48% Alexion Pharmaceuticals Inc. (ALXN) $121.11 -5.24% Macy's Inc. (M) $18.67 -5.21% Nasdaq 100 - Risers Micron Technology Inc. (MU) $44.35 6.49% Wynn Resorts Ltd. (WYNN) $149.28 5.71% Mondelez International Inc. (MDLZ) $41.51 5.62% Western Digital Corp. (WDC) $89.70 4.56% Baidu Inc. (BIDU) $243.62 3.05% Seagate Technology Plc (STX) $37.67 2.70% Intel Corp. (INTC) $45.51 2.58% Expedia Inc. (EXPE) $123.26 2.53% Skyworks Solutions Inc. (SWKS) $114.14 1.91% Cerner Corp. (CERN) $67.70 1.87% Nasdaq 100 - Fallers Mylan Inc. (MYL) $35.47 -7.24% QUALCOMM Inc. (QCOM) $50.97 -6.75% Alexion Pharmaceuticals Inc. (ALXN) $121.11 -5.24% Vertex Pharmaceuticals Inc. (VRTX) $144.25 -3.53% Hasbro Inc (HAS) $92.99 -2.60% Viacom Inc. Class B (VIAB) $23.78 -1.86% Discovery Communications Inc. Class A (DISCA) $18.72 -1.40% Discovery Communications Inc. Class C (DISCK) $17.69 -1.31% Idexx Laboratories Inc. (IDXX) $162.33 -1.27% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 GSK GlaxoSmithKline plc 6.09 2 GGP Greatland Gold Plc 3.69 3 BARC Barclays plc 2.32 4 LLOY Lloyds Banking Group plc 2.23 5 VAST Vast Resources plc 1.79 6 SXX Sirius Minerals plc 1.52 7 UKOG UK Oil & Gas Investments plc 1.14 8 BT.A BT Group plc 1.08 9 SMT Scottish Mortgage Investment Trust 1.04 10 ULVR Unilever plc 0.93 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 3.23 2 GGP Greatland Gold Plc 2.37 3 VAST Vast Resources plc 1.43 4 SXX Sirius Minerals plc 1.42 5 UKOG UK Oil & Gas Investments plc 1.06 6 GSK GlaxoSmithKline plc 0.93 7 GLEN Glencore plc 0.87 8 BDEV Barratt Developments plc 0.86 9 BOO Boohoo.com 0.86 10 BP. BP Plc 0.86 Newspaper Round Up Wednesday newspaper round-up: UK property market, North-South divide, Bitcoin The UK’s property market will take this week’s expected rise in interest rates in its stride, according to ratings agency Moody’s, but it warned that the outlook for the buy-to-let market has worsened significantly. The agency, which along with Standard & Poor’s was widely condemned for awarding triple-A ratings to sub-prime mortgage books before the 2008 financial crisis, said the British property market is more resilient than is widely believed. – Guardian Britain's north-south divide should be tackled by a government pledge in its new industrial strategy to provide every citizen with decent transport, schools, hospitals and digital access, an expert body says. The independent industrial strategy commission on Wednesday urged ministers to tackle Britain's regional imbalances by committing to universal basic infrastructure " a guaranteed standard for the whole of the UK. " Guardian Fast-growing fintech company MarketInvoice is launching a business lending service, after advancing over £1.6bn to UK firms through invoice finance over the past six years. Anil Stocker, chief executive and co-founder of MarketInvoice, told The Daily Telegraph that the firm wanted to lend over £100m to companies within two years. - Telegraph Britain's economy will grow only slowly for the foreseeable future as weak productivity dents the UK's prospects, a top economic think-tank has warned. Philip Hammond, the Chancellor, has only limited wiggle room in his November Budget as a result, because sluggish growth will be bad for tax revenues in the years to come. " Telegraph Manufacturers are demanding tougher controls over foreign takeovers after the acquisition of one of Britain's most promising technology companies. The EEF, which represents 20,000 companies, said that an independent panel should be established to consider the wider impact of takeovers, such as changes to supply chains and the loss of technological prowess, when deciding the potential benefits. " The Times Bitcoin surged past $6,400 for the first time yesterday as an American derivatives exchange announced plans to sell futures contracts for the digital currency. The plans, announced by CME Group, would allow investors to trade in bitcoin in the same way that they trade in gold, oil and other assets that use futures. " 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