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| London Market Report | | FTSE 100 | Euronext | Dax perf | CAC 40 | | | | | Please click on the images to view our interactive charts | | London open: Stocks edge lower ahead of jobs data London stocks edged lower in early trade on Wednesday as investors eyed the release of the latest UK jobs data. At 0835 GMT, the FTSE 100 was down 0.3% to 7,392.94, while the pound was flat against the euro at 1.1154 and up 0.1% versus the dollar at 1.3181. Spreadex analyst Connor Campbell said: "In part two of the week's three-pronged investigation into 'just how bad do UK consumers have it?' the markets gets a look at the latest round of jobs data. "With inflation at a five-year high of 3.0% in both September and October, it's more than likely that this Wednesday's figures are going to show an increase in the already ugly gap in real wages." For the three months to the end of September, wage growth (including bonuses) is forecast to fall from 2.2% to 2.1%, a drop that Campbell said "only exacerbates the python-like inflationary squeeze currently being put on people's wallets". Meanwhile, the claimant count change is set to jump from 1.7k to 2.0k month-on-month, with the unemployment rate unchanged at 4.3%. The unemployment rate, claimant count and average earnings are all due at 0930 GMT. In addition, Bank of England economist Andy Haldane is scheduled to make a speech at 1000 GMT, with fellow monetary policy committee member Ben Broadbent also speaking three hours later. Heavily-weighted mining stocks were under pressure as metals prices fell, with Rio Tinto, Glencore, BHP Billiton, Anglo American and Antofagasta all in the red again. Precious metals miners Fresnillo and Randgold were among the top risers, however. TalkTalk Telecom was on the back foot as it drummed up an impressive number of new customers in the first half of the year but at the expense of profits, which fell into the red and will be towards the lower end of its guided range for the full year. Legal & General Group retreated after it said that its investment management arm has entered into an agreement to acquire Canvas, an established exchange traded fund platform, for an undisclosed amount. Housebuilder Barratt Developments fell despite saying it has made a strong start to the year and remains confident of delivering a good performance in FY18. Wizz Air flew lower after it signed a memorandum of understanding with Airbus relating to the purchase of a further 146 Airbus A320neo family aircraft. Card Factory slipped after posting revenue growth but saying margins were under pressure, while Crest Nicholson was weaker despite posting a rise in full-year unit completions, as it warned that maintaining momentum through planning is a major challenge for the industry. On the upside, precious metals miners Fresnillo was the standout gainer after an upgrade to 'buy' at HSBC. AstraZeneca was trading up after it and its global biologics research and development arm, MedImmune, announced that the US Food and Drug Administration has approved Fasenra (benralizumab) for the add-on maintenance treatment of patients with severe asthma aged 12 years and older, and with an eosinophilic phenotype. Cobham rose after saying that trading remains on track as it reiterated its full-year guidance and added that its strategic review is still ongoing. Great Portland Estates advanced after reporting a 1% improvement in its portfolio valuation in its first half results, with the value of its developments rising 1.6% over the half-year.
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| Market Movers FTSE 100 (UKX) 7,392.94 -0.29% FTSE 250 (MCX) 19,762.51 -0.42% techMARK (TASX) 3,438.88 0.32% FTSE 100 - Risers Fresnillo (FRES) 1,334.00p 3.98% BT Group (BT.A) 247.05p 1.35% Vodafone Group (VOD) 229.80p 1.21% AstraZeneca (AZN) 5,015.00p 1.12% Randgold Resources Ltd. (RRS) 7,060.00p 1.00% Centrica (CNA) 166.60p 0.91% Convatec Group (CTEC) 191.70p 0.89% Rolls-Royce Holdings (RR.) 911.50p 0.77% Tesco (TSCO) 189.10p 0.56% Associated British Foods (ABF) 3,083.00p 0.49% FTSE 100 - Fallers Rio Tinto (RIO) 3,521.00p -1.98% Glencore (GLEN) 347.85p -1.95% 3i Group (III) 912.00p -1.94% Anglo American (AAL) 1,431.00p -1.65% BHP Billiton (BLT) 1,365.00p -1.62% Antofagasta (ANTO) 935.50p -1.42% Standard Life Aberdeen (SLA) 408.80p -1.33% Smurfit Kappa Group (SKG) 2,215.00p -1.29% CRH (CRH) 2,631.00p -1.20% Royal Dutch Shell 'A' (RDSA) 2,407.00p -1.13% FTSE 250 - Risers Cobham (COB) 130.30p 2.60% Rank Group (RNK) 238.70p 2.40% FDM Group (Holdings) (FDM) 970.00p 2.11% Dairy Crest Group (DCG) 556.50p 2.02% IP Group (IPO) 144.20p 1.84% Inmarsat (ISAT) 508.00p 1.68% Hochschild Mining (HOC) 236.50p 1.24% Euromoney Institutional Investor (ERM) 1,120.00p 1.17% Genus (GNS) 2,248.00p 1.03% Ultra Electronics Holdings (ULE) 1,212.00p 1.00% FTSE 250 - Fallers TalkTalk Telecom Group (TALK) 159.40p -15.88% Crest Nicholson Holdings (CRST) 494.00p -4.82% Kaz Minerals (KAZ) 746.50p -3.43% Evraz (EVR) 271.50p -3.21% Ferrexpo (FXPO) 237.40p -3.10% Tullow Oil (TLW) 176.70p -2.70% Vedanta Resources (VED) 759.00p -2.69% Cairn Energy (CNE) 205.20p -2.33% Sophos Group (SOPH) 569.50p -2.32% |
| UK Event Calendar | Wednesday November 15 INTERIMS Experian, Great Portland Estates, Helical, Premier Foods, TalkTalk Telecom Group INTERIM DIVIDEND PAYMENT DATE Anglo Pacific Group, Bristol & West 'A', Burford Capital , Curtis Banks Group, Sagicor Financial Corporation Limited (DI) QUARTERLY PAYMENT DATE Marsh & Mclennan Cos Inc. INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Trade (EU) (10:00) Business Inventories (US) (14:00) Consumer Price Index (US) (13:30) Crude Oil Inventories (US) (15:30) GDP (Preliminary) (EU) (10:00) Retail Sales (US) (13:30) FINALS AB Dynamics, Avon Rubber, Fenner, Game Digital, Zambeef Products SPECIAL DIVIDEND PAYMENT DATE JPMorgan Mid Cap Inv Trust EGMS Ethernity Networks Ltd, Toro Limited AGMS Barratt Developments, Celtic, Hays, Henderson EuroTrust, Jupiter UK Growth Investment Trust, Pacific Horizon Inv Trust TRADING ANNOUNCEMENTS Barratt Developments, Blue Prism Group, Crest Nicholson Holdings UK ECONOMIC ANNOUNCEMENTS Claimant Count Rate (09:30) FINAL DIVIDEND PAYMENT DATE JPMorgan Mid Cap Inv Trust, Strategic Equity Capital |
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| US Market Report | US Close: Markets Lower As Investors Warned On Bull Market Stocks again saw losses on Tuesday as some of Wall Street's most veteran investors sounded a cautious note on the outlook for the current bull market equities. The Dow Jones Industrial Averagefinished down 0.13%, the S&P 500lost 0.23% to 2,578.87 and the Nasdaq 100 settled 0.36% lower at 6,293.64. "Icarus is flying ever closer to the sun," Bank of America-Merrill Lynch's chief investment strategist said, pointing to signs of “irrational exuberance” among investors in the investment bank's latest global survey of fund managers. “Investors' risk-taking has hit an all-time high,” noted Merrill’s Michael Hartnett. “A record high percentage of investors say equities are overvalued yet cash levels are simultaneously falling, an indicator of irrational exuberance.” According to the latest FMS average cash balances fell from 4.7% in October to 4.4% in November - their lowest level since October 2013 - as asset managers chased markets higher. Tuesday also marked the last day of US President Donald's Trump's trip to Asia with investors watching out for any developments over the future of a tax reform deal too. Still on the economic front, the rate of advance in US factory gate prices accelerated from 2.6% in September to 2.8% for November, against a consensus estimate for 2.5%. Meanwhile, the NFIB's small business confidence gauge edged up from 103.0 for September to 103.8 last month, ahead consensus expectations for 104.0. Chicago Fed President Charles Evans said earlier at the ECB conference in Frankfurt that a new approach to interest-rate setting may be needed to deal with new shocks. Speaking later in the day at an economic breakfast Kentucky, St. Louis Fed President James Bullard said policy rates were just fine where they were, adding that inflation data year-to-date called into question whether consumer prices were "reliably returning to target". In corporate news, Home Depot shares finished 1.4% higher after its quarterly same-store sales beat analysts' expectations, while shares of Buffalo Wild Wings rocketed 23.97% on the back of a report in the Wall Street Journal that a private equity firm had bid more than $2.3bn for the restaurant chain. Going the other way, TJX Companies lost 3.88% after it reported worse than expected sales for the three months to September. General Electric was also in focus, with shares in the industrial conglomerate changing hands 5.91% lower as analysts at RBC gave a 'thumbs-down' to the company's turnaround plans unveiled during the previous session. Dow Jones - Risers Home Depot Inc. (HD) $168.05 1.64% Coca-Cola Co. (KO) $47.43 1.52% United Technologies Corp. (UTX) $118.80 1.48% Caterpillar Inc. (CAT) $137.54 0.74% Visa Inc. (V) $111.95 0.52% 3M Co. (MMM) $229.33 0.49% McDonald's Corp. (MCD) $168.15 0.44% Travelers Company Inc. (TRV) $133.87 0.41% International Business Machines Corp. (IBM) $148.89 0.33% Cisco Systems Inc. (CSCO) $34.04 0.27% Dow Jones - Fallers General Electric Co. (GE) $17.90 -5.89% Dowdupont Inc. (DWDP) $68.55 -2.68% Apple Inc. (AAPL) $171.34 -1.51% Walt Disney Co. (DIS) $103.18 -1.50% Goldman Sachs Group Inc. (GS) $237.25 -1.26% Verizon Communications Inc. (VZ) $44.22 -1.18% Exxon Mobil Corp. (XOM) $82.24 -0.78% JP Morgan Chase & Co. (JPM) $97.24 -0.60% Unitedhealth Group Inc. (UNH) $211.71 -0.45% Chevron Corp. (CVX) $116.92 -0.26% S&P 500 - Risers Advance Auto Parts (AAP) $95.72 16.33% Mattel Inc. (MAT) $18.54 5.10% Endo International Plc (ENDP) $6.99 4.48% Juniper Networks Inc. (JNPR) $26.43 4.22% Signet Jewelers Ltd (SIG) $72.46 4.20% Western Digital Corp. (WDC) $91.58 3.55% ConAgra Brands Inc (CAG) $35.87 2.93% Bed Bath & Beyond Inc. (BBBY) $20.22 2.54% Kohls Corp. (KSS) $42.16 2.48% FirstEnergy Corp. (FE) $35.05 2.46% S&P 500 - Fallers Frontier Communications Co. (FTR) $6.46 -7.18% Newfield Exploration Co (NFX) $29.80 -7.07% Range Resources Corp. (RRC) $17.36 -6.62% EQT Corp. (EQT) $60.60 -6.16% CenturyLink Inc. (CTL) $14.40 -6.07% General Electric Co. (GE) $17.90 -5.89% Chesapeake Energy Corp. (CHK) $3.94 -5.06% Diamond Offshore Drilling Inc. (DO) $15.79 -4.99% CF Industries Holdings Inc. (CF) $35.52 -4.95% Transocean Ltd. (RIG) $10.72 -4.72% Nasdaq 100 - Risers Vodafone Group Plc ADS (VOD) $30.48 5.65% Western Digital Corp. (WDC) $91.58 3.55% Marriott International - Class A (MAR) $123.06 2.22% Expedia Inc. (EXPE) $122.09 1.50% Liberty Global Plc Lilac Class C (LILAK) $22.06 1.29% Liberty Interactive Corporation QVC Group (QVCA) $23.73 1.28% Cintas Corp. (CTAS) $149.20 1.26% Fiserv Inc. (FISV) $129.73 1.23% Idexx Laboratories Inc. (IDXX) $149.54 1.18% Mondelez International Inc. (MDLZ) $42.53 1.14% Nasdaq 100 - Fallers JD.com, Inc. (JD) $38.90 -5.90% Discovery Communications Inc. Class A (DISCA) $16.28 -4.18% Discovery Communications Inc. Class C (DISCK) $15.27 -4.14% Alexion Pharmaceuticals Inc. (ALXN) $109.98 -3.06% Sirius XM Holdings Inc (SIRI) $5.35 -2.73% Ctrip.Com International Ltd. Ads (CTRP) $45.30 -2.54% Hologic Inc. (HOLX) $39.62 -2.51% Gilead Sciences Inc. (GILD) $71.15 -2.33% Celgene Corp. (CELG) $98.86 -2.27% Regeneron Pharmaceuticals Inc. (REGN) $384.80 -2.24% |
| Top of the stocks Number of Deals Bought Number of Deals Sold |
| Newspaper Round Up | Wednesday newspaper round-up: Public sector pay, trade unions, Brexit Philip Hammond is facing renewed calls to unfreeze public sector pay, as fresh analysis suggests the cost to the Treasury would be cushioned by £2.5bn in additional tax revenues and benefits savings. A significant portion of funding required to lift the cap would be returned almost immediately to the Treasury, according to research from the Institute for Public Policy Research (IPPR) thinktank. – Guardian Britain's trade unions have been warned they face increasing irrelevance without radical reform to attract new members in fast-growing sectors with large numbers of casual employees, such as the hospitality industry. The warning comes in a report from the leftwing thinktank the Fabian Society and the Community union, with analysis showing that the country's fastest-growing industries have the lowest levels of membership. - Guardian UK business leaders would prefer to stick with EU rules on goods and services in order to preserve their current trading relationships. In a survey of more than 900 members of the Institute of Directors, 51pc of businesses wanted to keep the current levels of access to the single market, in order to maintain continuity with their current business plans. However, nearly a quarter would prefer to change regulations after leaving the EU even if it made trade between the UK and the single market more difficult. ?" Telegraph The Treasury's carbon tax has propelled Britain into the top 10 of a global low-carbon electricity league table faster than any other country, igniting calls from the clean energy industry for the upcoming budget to keep the support in place. The fresh research shows that Britain has climbed from a 2012 ranking of 20th out of 33 industrialised countries to 7th on the low-carbon electricity league table. - Telegraph Gocompare.com has received approaches for a £460 million takeover from the company behind Uswitch, its rival price comparison site. A report on Sky News flushed out statements from both Gocompare and ZPG, its suitor, which also owns Zoopla, the property search portal, as well as the money.co.uk website. ?" The Times The UK will lose 63,000 dollar millionaires over the next five years as a result of Brexit, while the rest of the world creates eight million more, according to a survey of global wealth. Britain will be the only one of 23 big economies to suffer a fall in the number of millionaires, from 2.19 million to 2.13 million by 2022, Credit Suisse predicted in its annual Global Wealth Report. ?" The Times | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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