Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Friday, 10 November 2017 10:24:15 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 nudge up ahead of industrial production, manufacturing data London stocks nudged a touch higher in early trade on Friday as investors eyed the release of key manufacturing and industrial production data and the continuation of Brexit talks. At 0825 GMT, the FTSE was up 0.1% to 7,493.20, while the pound was up 0.1% against the euro at 1.1299 and down 0.1% versus the dollar at 1.3139. After a largely forgettable week, Friday morning brings some potentially intriguing nuggets of data for the UK, with the latest manufacturing and industrial production figures. The former is expected to fall from 0.4% to 0.3% in September month-on-month, while the latter is expected to nudge higher, from 0.2% to 0.3%. Meanwhile, analysts are expecting the goods trade balance figures to show the deficit shrank from £14.2bn in August to £12.9bn in September. Manufacturing and industrial production figures are due at 0930 GMT, along with the goods trade balance. Meanwhile, Brexit talks - which resume this week - will continue to be in focus. Oanda analyst Craig Erlam said: "Given how past negotiations have gone I'm not optimistic that the gap between the two sides will be closed yet. "With Theresa May's looking very vulnerable at home and with the EU not wanting a change of leadership at this stage, it's possible that the Prime Ministers weakness may help the negotiations progress in order to give her a domestic boost. That said, the EU isn't going to be overly charitable when it comes to May's cause and so the UK will have to make more effort on the bill before any progress can be made." In corporate news, Vedanta Resources was in the black as it reported revenue growth of 39% year-on-year in its first half to $6.8bn, while EBITDA was up 37% to $1.7bn. Galliford Try was on the front foot after the company said its council partnerships arm has benefited from "increased certainty" following recent government announcements and has a record order book, while housebuilding sales rates and the construction order book have remained unchanged since the year end. Student accommodation developer and manager Unite Group nudged up after exchanging contracts to acquire a development site in Leeds on a subject-to-planning basis. Plumbing and heating products distributor Ferguson - formerly Wolseley " advanced as it agreed to sell its Nordics building materials distribution business, Stark Group, to an affiliate of private equity firm Lone Star Funds for €1.03bn on a debt-free and cash-free basis. On the downside, Ultra Electronics fell sharply after saying that a decision from the US Department of Justice about its proposed acquisition of NYSE-listed Sparton is now expected at the end of March 2018. Ultra Electronics was also cut to 'sell' from 'hold' at Berenberg on Friday. Capita ticked down as it agreed with the Financial Conduct Authority to pay up to £66m to investors who suffered losses due to a high-risk investment scheme. Shares in luxury fashion house Burberry were under the cosh again after a downgrade to 'underperform' at Bernstein, while Serco was under pressure after a downgrade to 'sell' from 'hold' at Liberum Capital. 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) 7,493.20 0.12% FTSE 250 (MCX) 20,062.28 -0.05% techMARK (TASX) 3,477.91 -0.12% FTSE 100 - Risers Shire Plc (SHP) 3,595.00p 1.35% Barratt Developments (BDEV) 619.00p 1.14% Ferguson (FERG) 5,370.00p 1.03% Coca-Cola HBC AG (CDI) (CCH) 2,612.00p 0.73% Rio Tinto (RIO) 3,704.50p 0.72% Standard Life Aberdeen (SLA) 415.90p 0.70% St James's Place (STJ) 1,154.00p 0.70% Imperial Brands (IMB) 3,173.50p 0.62% Glencore (GLEN) 365.15p 0.59% 3i Group (III) 945.50p 0.59% FTSE 100 - Fallers Burberry Group (BRBY) 1,731.00p -3.13% Ashtead Group (AHT) 1,915.00p -0.57% Rolls-Royce Holdings (RR.) 934.00p -0.53% Bunzl (BNZL) 2,300.00p -0.35% Sainsbury (J) (SBRY) 228.50p -0.31% Persimmon (PSN) 2,654.00p -0.30% BAE Systems (BA.) 562.50p -0.27% Reckitt Benckiser Group (RB.) 6,521.00p -0.26% Sky (SKY) 918.00p -0.22% SSE (SSE) 1,391.00p -0.22% FTSE 250 - Risers Nostrum Oil & Gas (NOG) 383.20p 2.73% OneSavings Bank (OSB) 408.70p 2.61% Renewi (RWI) 104.80p 1.95% Coats Group (COA) 86.50p 1.05% Virgin Money Holdings (UK) (VM.) 286.70p 0.92% Close Brothers Group (CBG) 1,356.00p 0.89% Dunelm Group (DNLM) 683.00p 0.89% CYBG (CYBG) 315.10p 0.83% Worldwide Healthcare Trust (WWH) 2,561.00p 0.83% Wizz Air Holdings (WIZZ) 3,127.00p 0.77% FTSE 250 - Fallers Ultra Electronics Holdings (ULE) 1,637.00p -4.66% Serco Group (SRP) 108.00p -4.09% Royal Mail (RMG) 377.20p -1.51% Ascential (ASCL) 364.90p -1.38% Petrofac Ltd. (PFC) 435.10p -1.14% Inmarsat (ISAT) 511.50p -1.06% Hikma Pharmaceuticals (HIK) 988.50p -1.00% Pershing Square Holdings Ltd NPV (PSH) 1,026.00p -0.77% Sirius Minerals (SXX) 26.12p -0.68% UK Event Calendar Friday November 10 INTERIMS Castings, Volex INTERIM DIVIDEND PAYMENT DATE AA , Charles Taylor, Harwood Wealth Management Group, Hastings Group Holdings , Kerry Group 'A' Shares, Kingfisher, M&C Saatchi, Restore, Spectris, Spirax-Sarco Engineering, TP ICAP, Travis Perkins, Zegona Communications SPECIAL DIVIDEND PAYMENT DATE Alternative Liquidity Fund Limited, Bioventix AGMS Galliford Try, VinaLand Ltd UK ECONOMIC ANNOUNCEMENTS Industrial Production (09:30) Manufacturing Production (09:30) FINAL DIVIDEND PAYMENT DATE Bioventix, Daejan Holdings, Mid Wynd International Inv Trust, Photo-Me International   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 close: Markets in the red as Senate Republicans reveal their tax plans US markets finished lower on Thursday as investors dealt with more earnings news and details on the Senate’s tax bill. The Dow Jones Industrial Average was off 0.43% at 23,461.94, the S&P 500 was down 0.38% at 2,584.62, and the Nasdaq 100 was 0.53% softer at 6,312.21. Senate Republicans took the wraps off their tax plan on Thursday, which has some slight differences to the one currently making its way through the House of Representatives. Under the plan, corporate tax would be slashed to 20% from the current 35%, although it’s understood that would be delayed until 2019, rather than coming into effect next year as it would under the House bill. It would keep the number of individual tax brackets at seven - House Republicans want four - while cutting the 15% tax bracket to 12%, and shaving the top rate slightly to 38.5%. In keeping with the House plan, Senate republicans want to almost-double the standard deduction to $12,000 and $24,000 for individuals and married couples respectively, while removing federal deductions for state and local taxes. It would, however, not make any changes to mortgage interest deductions, which currently allow deductions on interest for mortgage debt of up to $1m. The House bill has that figure capped at $500,000 comparatively. On the economic front, the number of Americans filing for unemployment benefits rose more than expected last week, according to data from the Labor Department. US initial jobless claims were up 10,000 from the previous week’s unrevised level to 239,000. Economists had been expecting a smaller increase to 231,000. Meanwhile, the four week moving average fell by 1,250 from the previous week’s unrevised average to 231,250, marking the lowest level for this average since March 1973, when it was 227,750. “After a run of lower-than-expected claims, this week’s number is back at the pre-hurricane trend,” Pantheon Macroeconomics said. “But the weekly data are wildly erratic, and the four-week moving average is just 231.25K. “That's consistent with the strength of leading indicators of hiring and, taken together, all the labour data we follow point to sustained 200K-plus payroll readings over the next few months.” Back on Wall Street, it was the worst close for a number of sessions, with analysts pointing out that the declines followed similar moves in Europe and Asia as investors struggled for direction in a relatively slow news week. “That’s not to say these declines will be sustained - the evidence suggests the buy the dip mentality is alive and well in the markets - but any corrections, however small, will likely be welcomed by investors who crave some more volatility in the markets,” noted Oanda’s Craig Erlam earlier in the day. “Perhaps the reports of delayed implementation period for corporate tax cuts has taken some of the shine off the rally but I don’t think it will make much difference, as long as it ultimately passes.” In corporate news, Sage Therapeutics rocketed 54.25% after the company said its drug to treat postpartum depression met the main goal in two late-stage studies. Office Depot was in focus, rising 7.64% after saying third-quarter profit fell 17%, while Kohl’sshares rose 0.93% after the release of its third-quarter earnings. Shares in housebuilder D. R. Horton were 1.3% firmer as it posted a 10% jump in quarterly profit amid higher home sales. Dow Jones - Risers Walt Disney Co. (DIS) $102.68 1.05% Travelers Company Inc. (TRV) $134.49 0.76% Nike Inc. (NKE) $56.13 0.66% Exxon Mobil Corp. (XOM) $83.99 0.60% Goldman Sachs Group Inc. (GS) $240.79 0.41% Unitedhealth Group Inc. (UNH) $211.56 0.36% Procter & Gamble Co. (PG) $87.78 0.23% Coca-Cola Co. (KO) $46.25 0.15% Wal-Mart Stores Inc. (WMT) $90.32 0.04% Chevron Corp. (CVX) $117.24 0.00% Dow Jones - Fallers Caterpillar Inc. (CAT) $135.34 -2.50% McDonald's Corp. (MCD) $167.00 -1.82% American Express Co. (AXP) $93.75 -1.70% United Technologies Corp. (UTX) $118.37 -1.59% Cisco Systems Inc. (CSCO) $34.05 -1.30% Boeing Co. (BA) $262.70 -1.29% Dowdupont Inc. (DWDP) $70.26 -1.28% General Electric Co. (GE) $19.99 -1.09% Verizon Communications Inc. (VZ) $45.08 -0.88% Intel Corp. (INTC) $46.30 -0.86% S&P 500 - Risers Mallinckrodt Plc Ordinary Shares (MNK) $22.23 11.11% Macy's Inc. (M) $19.50 11.05% Perrigo Company plc (PRGO) $87.99 8.36% Macerich Co (MAC) $62.42 6.07% H&R Block Inc. (HRB) $25.40 5.75% Southwestern Energy Co. (SWN) $6.49 5.70% Signet Jewelers Ltd (SIG) $70.85 5.29% Diamond Offshore Drilling Inc. (DO) $17.53 4.97% Mattel Inc. (MAT) $13.93 4.74% Nordstrom Inc. (JWN) $40.03 4.52% S&P 500 - Fallers Csra Inc. (CSRA) $29.03 -8.51% Alcoa Corporation (AA) $43.33 -7.75% DaVita Inc (DVA) $55.11 -6.53% Johnson Controls International plc (JCI) $38.51 -6.08% CenturyLink Inc. (CTL) $15.48 -4.56% Stericycle Inc. (SRCL) $64.06 -4.53% KLA-Tencor Corp. (KLAC) $102.40 -4.37% Newell Brands Inc (NWL) $30.10 -4.17% Xilinx Inc. (XLNX) $70.76 -3.88% CIGNA Corp. (CI) $197.49 -3.88% Nasdaq 100 - Risers Liberty Interactive Corporation QVC Group (QVCA) $23.27 8.03% Dish Network Corp. (DISH) $50.30 3.22% Vodafone Group Plc ADS (VOD) $29.67 2.99% Twenty-First Century Fox Inc Class B (FOX) $28.13 2.85% Priceline Group Inc (PCLN) $1,703.14 2.53% Mercadolibre Inc. (MELI) $266.41 2.43% Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $56.89 2.39% Mylan Inc. (MYL) $38.08 2.26% Twenty-First Century Fox Inc Class A (FOXA) $28.70 2.17% Tractor Supply Company (TSCO) $61.88 2.04% Nasdaq 100 - Fallers KLA-Tencor Corp. (KLAC) $102.40 -4.37% Xilinx Inc. (XLNX) $70.76 -3.88% eBay Inc. (EBAY) $35.69 -3.57% Cintas Corp. (CTAS) $145.43 -2.79% Maxim Integrated Products Inc. (MXIM) $53.81 -2.75% Applied Materials Inc. (AMAT) $55.48 -2.53% Analog Devices Inc. (ADI) $89.70 -2.50% Broadcom Limited (AVGO) $265.64 -2.48% CSX Corp. (CSX) $50.23 -2.45% Lam Research Corp. (LRCX) $206.29 -2.34% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 GSK GlaxoSmithKline plc 3.66 2 GGP Greatland Gold Plc 1.97 3 LLOY Lloyds Banking Group plc 1.70 4 UKOG UK Oil & Gas Investments plc 1.65 5 SMT Scottish Mortgage Investment Trust 1.50 6 BT.A BT Group plc 1.50 7 IQE IQE plc 1.48 8 XBT Provider AB 1.16 9 PTEC Playtech plc 1.12 10 AST Ascent Resources plc 1.02 Number of Deals Sold Place EPIC Equity name % 1 BP. BP Plc 1.88 2 FEVR Fevertree Drinks plc 1.75 3 IQE IQE plc 1.73 4 UKOG UK Oil & Gas Investments plc 1.69 5 LLOY Lloyds Banking Group plc 1.56 6 RDSB Royal Dutch Shell Plc B Shares 1.28 7 BT.A BT Group plc 1.27 8 GGP Greatland Gold Plc 1.26 9 GLEN Glencore plc 0.95 10 BOO Boohoo.com 0.93 Newspaper Round Up Friday newspaper round-up: Brexit, Equifax, National Grid, Saudi Aramco British and European business leaders are to demand an urgent breakthrough on Brexit from Theresa May in order to salvage a transition deal from the stalled negotiations in Brussels. The CBI and counterparts from France, Germany and Italy will meet the prime minister at Downing Street on Monday to warn that taking much longer to negotiate a transition agreement could render it useless because companies will soon be forced to assume the worst about the terms of Britain’s departure from the EU. – Guardian Investigators have raided the offices of ticket resale companies StubHub and Viagogo as part of a probe into suspected breaches of consumer law in the "secondary ticketing" industry, the Guardian has learned. Officials from the Competition and Markets Authority seized information about the companies' relationship with prominent ticket touts, who harvest tickets for in-demand events and sell them via the two sites. - Guardian Equifax on Thursday reported a lower third-quarter profit as costs from the credit reporting bureau's recently disclosed data breach that exposed deeply sensitive information on 145.5 million people began to mount. Net income attributable to Equifax fell to $96.3m (£73m), or 79 cents per diluted share, from $132.8m, or $1.09 per diluted share, a year earlier. " Telegraph National Grid is training the focus of its multi-billion pound investment effort on the US as political scrutiny in the UK mounts. The FTSE 100 operator of Britain's pipes and wires is pouring more than half of its spending into projects in the North East of the US where regulators are encouraging billions of dollars in low carbon investments. " Telegraph One of Britain's most senior former civil servants has accused the government of pursuing a nakedly commercial foreign policy after $2 billion in loan guarantees were granted to Saudi Aramco, the oil group considering a shares listing in London. Lord Macpherson of Earl's Court, permanent secretary to the Treasury from 2005 to 2016, tweeted: "Her Majesty's Government guaranteeing a loan to Aramco would be a further lurch in descent to mercantilism. Mr Gladstone will be turning in his grave." " The Times Britain's economy will trail the eurozone for each of the coming three years as its growth falls to the bottom of the European Union's 28 members, according to official forecasts from Brussels. The single currency bloc has not grown faster than the UK since 2011 but is now expected to outpace it until at least 2019, after the European Commission downgraded Britain and upgraded the eurozone in its latest outlook. " 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