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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 little changed ahead of retail sales data London stocks were little changed in early trade on Thursday after ending the previous session at a six-week low, as investors eyed the release of the latest UK retail sales figures. At 0835 GMT, the FTSE 100 held its ground at 7,374.36, while the pound was steady against the euro at 1.1168 and down 0.1% versus the dollar at 1.3164. UK retail sales for October are due at 0930 GMT, on the back of an 0.8% month-on-month slump for September and following further bad news for consumers on inflation, wages and employment from the Office for National Statistics this week. The consensus expects month-to-month volumes to mount a slight return to 0.1%, but recent surveys, including from the British Retail Consortium, CBI and BDO, indicated October's numbers may even disappoint these low expectations. Compared to last year, the consensus is for retail sales to fall 6% as October last year saw strong growth. Spreadex analyst Connor Campbell said if the consensus forecast is met, "it's hardly the kind of number that'll reassure the markets that UK consumers are coping with the erosion of their pay packets, especially not heading into the key Christmas period". In corporate news, private equity firm 3i Group was the standout gainer after it reported "continued progression" in its net asset value per share for the first half, rising to 652p from 604p at the start of the period. EasyJet flew higher after Dart Group, the owner of Jet2, reported a rise in first-half revenue and pre-tax profit. British Land advanced as it said EPRA net asset value increased 2.6% in the six months to 30 September to 939p. Royal Mail gained ground as it said underlying profits improved in the first half of the year, though the costs of transforming the business saw reported operating profits plummet more than 80%. Centrica was boosted by an upgrade to 'buy' from 'reduce' at Kepler, while Aveva was higher after JPMorgan Cazenove lifted the stock to 'overweight' from 'neutral' and FirstGroup rose as RBC Capital upgraded it to 'sector perform' from 'underperform'. On the downside, GKN suffered the heaviest losses after saying it has parted company with Kevin Cummings, who was due to step up to be chief executive at the aircraft and vehicle parts maker. Prudential was weaker despite saying that life insurance new business profit rose 17% in the first nine months of the year, reflecting higher sales and more favourable economic conditions. Virgin Money was in the red despite saying it remains on track to meet financial targets for FY 2017 and announcing the launch of a new SME savings account in January 2018. Qinetiq fell even as first-half revenues came in more or less as expected, while TalkTalk was hit by a downgrade to 'sector perform' from 'outperform' at RBC Capital Markets. Spire Healthcare lost ground as Mediclinic said discussions with the group have continued, but no agreement has yet been reached on any of the key terms of an offer. Marks & Spencer, Shell and Bunzl were on the back foot as their stock went ex-dividend. |
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| | Market Movers FTSE 100 (UKX) 7,374.36 0.02%
FTSE 250 (MCX) 19,764.26 0.36%
techMARK (TASX) 3,433.78 0.27% FTSE 100 - Risers 3i Group (III) 930.00p 3.51%
easyJet (EZJ) 1,283.00p 2.56%
Centrica (CNA) 168.10p 1.57%
Mondi (MNDI) 1,748.00p 1.57%
British Land Company (BLND) 605.00p 1.42%
Convatec Group (CTEC) 192.30p 1.32%
Shire Plc (SHP) 3,577.00p 1.32%
International Consolidated Airlines Group SA (CDI) (IAG) 596.50p 1.27%
Paddy Power Betfair (PPB) 8,515.00p 1.19%
Taylor Wimpey (TW.) 194.10p 1.09% FTSE 100 - Fallers GKN (GKN) 294.70p -5.18%
Imperial Brands (IMB) 3,037.00p -1.43%
Marks & Spencer Group (MKS) 305.10p -1.10%
BT Group (BT.A) 244.60p -1.03%
Fresnillo (FRES) 1,312.00p -0.98%
Royal Dutch Shell 'A' (RDSA) 2,378.50p -0.96%
Bunzl (BNZL) 2,128.00p -0.84%
Royal Dutch Shell 'B' (RDSB) 2,416.00p -0.82%
Prudential (PRU) 1,845.00p -0.81%
WPP (WPP) 1,243.00p -0.80% FTSE 250 - Risers Royal Mail (RMG) 402.30p 3.42%
Inmarsat (ISAT) 511.00p 3.02%
Aveva Group (AVV) 2,604.00p 2.97%
Ferrexpo (FXPO) 248.30p 2.35%
Hunting (HTG) 501.00p 2.35%
Nex Group (NXG) 583.00p 2.19%
Supergroup (SGP) 1,961.00p 2.19%
Capita (CPI) 479.80p 1.83%
Evraz (EVR) 292.70p 1.77%
Mitchells & Butlers (MAB) 258.30p 1.69% FTSE 250 - Fallers Spire Healthcare Group (SPI) 280.80p -5.33%
Dignity (DTY) 2,060.00p -4.85%
QinetiQ Group (QQ.) 211.30p -3.95%
Virgin Money Holdings (UK) (VM.) 264.30p -3.89%
TalkTalk Telecom Group (TALK) 175.50p -1.52%
The Renewables Infrastructure Group Limited (TRIG) 105.00p -1.22%
IP Group (IPO) 139.00p -1.21%
Coats Group (COA) 85.30p -1.16%
Polymetal International (POLY) 889.50p -1.00% |
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| | UK Event Calendar | | Thursday November 16 INTERIMS
Assura , British Land Company, Dart Group, Investec, Mediclinic International , Norcros, QinetiQ Group, Royal Mail, Young & Co's Brewery 'A' Shares, Young & Co's Brewery (Non-Voting) INTERIM EX-DIVIDEND DATE
Anpario, Bunzl, Diversified Gas & Oil, First Derivatives, London Security, Marks & Spencer Group, Prime People, Rotala, Sainsbury (J), Scottish Mortgage Inv Trust, Sophos Group , Spire Healthcare Group, Wynnstay Properties QUARTERLY PAYMENT DATE
Merchants Trust QUARTERLY EX-DIVIDEND DATE
Impact Healthcare Reit , M Winkworth, MedicX Fund Ltd., NextEnergy Solar Fund Limited Red, Premier Global Infrastructure Trust, Royal Dutch Shell 'A', Royal Dutch Shell 'B', The Renewables Infrastructure Group Limited INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (13:15)
Consumer Price Index (EU) (10:00)
Continuing Claims (US) (12:30)
Import and Export Price Indexes (US) (13:30)
Industrial Production (US) (13:15)
Initial Jobless Claims (US) (12:30)
Philadelphia Fed Index (US) (12:30)
Wholesale Price Index (GER) (06:00) Q3
TBC Bank Group FINALS
Nanoco Group EGMS
Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S) AGMS
Close Brothers Group, El Oro Ltd, Genus, Prairie Mining Limited TRADING ANNOUNCEMENTS
Close Brothers Group, Coats Group, Genus, Keller Group, Premier Oil, Regional REIT Limited, Regional Reit ZDP, Safestore Holdings, Ted Baker, Vitec Group UK ECONOMIC ANNOUNCEMENTS
Retail Sales (09:30) FINAL DIVIDEND PAYMENT DATE
Hansard Global, Haynes Publishing Group FINAL EX-DIVIDEND DATE
Abcam, Aberdeen Frontier Markets Investment Company, Genus, Jupiter European Opportunities Trust, MJ Gleeson , New Star Investment Trust, Sanditon Investment Trust, Sherborne Investors (Guernsey) 'B' Limited, Swallowfield, Tristel
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Markets finish lower as tax reform concerns linger Wall Street finished lower on Wednesday, following the release of stronger-than-expected consumer price inflation and retail sales data for October and amid lingering concerns about the progress being made by the White House on tax reforms. The Dow Jones Industrial Average lost 0.59% to 23,271.28, the S&P 500 was off 0.55% at 2,564.62, and the Nasdaq 100 was 0.56% softer at 6,258.36. "The deterioration in global stocks clearly has a footing in last week's Senate announcement that we may not see a US corporate tax cut until 2019," said IG analyst Joshua Mahony. "However, the worst may not be over yet. With Senate Majority leader Mitch McConnell hoping to add a repeal of the 'individual mandate' into the bill as a way to undermine Obamacare, the pathway to tax reform just got more complicated." On the data front, total US retail sales volumes increased by 0.2% month-on-month in October to reach $486.6bn, against consensus expectations for a 0.1% rise, alongside upwards revisions to data for the previous month. In parallel, the Department of Labor said that 'core' consumer price gains accelerated to a 1.8% pace year-on-year last month from a 1.7% clip in September. "The year-on-year rate nudged up to 1.8% from 1.7%; it will remain close to this rate until March, the anniversary of the first of the soft numbers this year," commented Ian Shepherdson, chief economist at Pantheon Macroeconomics. "At that point, the year-on-year rate will start to rise rapidly, and will be 2.5%-plus by late summer. "The three-month annualized rate is now 2.4%, up from a low of zero in May … the "transitory" and "idiosyncratic" factors are fading." In corporate news, investors were digesting date showing that Soros Fund Management hived-off large numbers of shares in tech giants Facebook, Apple, Snap and Twitter. Discount store Target - which is in the throes of a turnaround plan - was also in focus, dropping 9.84% after it posted a bigger-than-expected jump in quarterly same-store sales. However, weaker-than-expected guidance from the retailer more than offset that good news, sending shares spiraling lower. Advance Auto Parts was also in the headlines, losing 4.31% having earlier rocketed ahead in the wake of stronger-than-forecast quarterly profits. Dow Jones - Risers General Electric Co. (GE) $18.26 2.01%
Nike Inc. (NKE) $56.63 1.29%
United Technologies Corp. (UTX) $117.57 0.44%
Boeing Co. (BA) $262.91 0.44%
JP Morgan Chase & Co. (JPM) $98.20 0.36%
Travelers Company Inc. (TRV) $133.72 0.31%
Cisco Systems Inc. (CSCO) $34.11 0.21%
Coca-Cola Co. (KO) $46.81 0.19%
Pfizer Inc. (PFE) $35.37 0.17%
Home Depot Inc. (HD) $165.46 0.08% Dow Jones - Fallers Caterpillar Inc. (CAT) $134.12 -2.50%
Dowdupont Inc. (DWDP) $68.97 -2.11%
Exxon Mobil Corp. (XOM) $81.22 -2.03%
Visa Inc. (V) $110.27 -1.53%
Verizon Communications Inc. (VZ) $44.11 -1.43%
Apple Inc. (AAPL) $169.08 -1.32%
Unitedhealth Group Inc. (UNH) $209.87 -1.31%
Wal-Mart Stores Inc. (WMT) $89.83 -1.27%
Microsoft Corp. (MSFT) $82.98 -1.27%
Goldman Sachs Group Inc. (GS) $237.61 -1.11% S&P 500 - Risers Signet Jewelers Ltd (SIG) $73.77 6.16%
Macy's Inc. (M) $19.98 3.36%
Discovery Communications Inc. Class C (DISCK) $15.75 3.14%
Frontier Communications Co. (FTR) $6.66 3.10%
American Airlines Group (AAL) $47.19 3.01%
Amerisource Bergen Corp. (ABC) $77.52 2.82%
Patterson Companies Inc. (PDCO) $34.45 2.74%
Discovery Communications Inc. Class A (DISCA) $16.72 2.70%
Kohls Corp. (KSS) $42.27 2.65%
CenturyLink Inc. (CTL) $14.78 2.64% S&P 500 - Fallers Target Corp. (TGT) $54.16 -10.33%
Range Resources Corp. (RRC) $17.08 -8.07%
Newfield Exploration Co (NFX) $29.57 -7.85%
Transocean Ltd. (RIG) $10.48 -6.76%
Halliburton Co. (HAL) $41.68 -5.72%
Noble Energy Inc. (NBL) $25.98 -5.63%
Southwestern Energy Co. (SWN) $6.14 -5.62%
Schlumberger Ltd. (SLB) $61.55 -5.37%
Cimarex Energy Co (XEC) $115.53 -5.18%
Marathon Oil Corp. (MRO) $14.78 -4.92% Nasdaq 100 - Risers Discovery Communications Inc. Class C (DISCK) $15.75 3.14%
American Airlines Group (AAL) $47.19 3.01%
Discovery Communications Inc. Class A (DISCA) $16.72 2.70%
Twenty-First Century Fox Inc Class A (FOXA) $28.73 2.50%
Liberty Global plc Series C (LBTYK) $29.04 2.47%
Liberty Global plc Series A (LBTYA) $30.07 2.45%
Twenty-First Century Fox Inc Class B (FOX) $27.95 2.34%
Tractor Supply Company (TSCO) $62.84 1.93%
Dentsply International Inc. (XRAY) $66.60 1.85%
Henry Schein Inc. (HSIC) $67.97 1.69% Nasdaq 100 - Fallers Skyworks Solutions Inc. (SWKS) $108.89 -2.09%
Nvidia Corp. (NVDA) $209.98 -1.96%
Align Technology Inc. (ALGN) $249.19 -1.90%
Netflix Inc. (NFLX) $192.12 -1.83%
Activision Blizzard Inc. (ATVI) $62.89 -1.78%
Monster Beverage Corp (MNST) $61.60 -1.64%
Microchip Technology Inc. (MCHP) $89.59 -1.56%
CSX Corp. (CSX) $48.63 -1.56%
Xilinx Inc. (XLNX) $70.94 -1.54% |
| | Newspaper Round Up | | Thursday newspaper round-up: Housing crisis, broadcasters, LSE, energy users Theresa May will signal that tackling the housing crisis will be a key theme of next week’s budget as pressure mounts on the chancellor, Philip Hammond, to release fresh resources to invest in building new homes. MPs and ministers have been urging the chancellor to spend more on housebuilding, since the general election campaign underscored younger voters’ concerns about the difficulties of getting on the property ladder. – Guardian Technology firm Dyson is to sue its former chief executive for allegedly leaking its closely guarded secrets, in a claim his lawyers say is a "naked attempt" to distract from a wrongful dismissal suit against the company. The extraordinary row emerged after the company, founded by inventor Sir James Dyson, filed a high court claim against Max Conze, who led the company from 2011 to 2017. ?" Guardian Commercial broadcasters have renewed their attacks on YouTube and Facebook with a new study highlighting the power of television advertising compared with the tech giants. Research commissioned by Thinkbox, an industry group backed by ITV, Channel 4, Sky and others, found that television advertising generates £4.20 in profit for every £1 spent. ?" Telegraph Tensions between Asatsu-DK and its biggest shareholder WPP escalated on Tuesday night, after the UK-listed advertising giant said it is prepared to increase its shareholding in ASK instead of selling down its stake. It comes after Boston-based Bain Capital last month launched a $1.3bn (£990m) tender offer for ADK, prompting criticism from WPP, which holds a 24.7pc stake in the Japanese agency and has been a long-term partner of the group. It said the offer "significantly undervalues ADK, its assets and future opportunities". ?" Telegraph The activist investor besieging the London Stock Exchange wants board members to be personally liable for any payoff handed to the chief executive Xavier Rolet ?" unless it is disclosed and approved by shareholders. The unusual move is the latest attack on the board by TCI Fund Management, one of largest shareholders in the exchange, which has accused Donald Brydon, the exchange's chairman, of forcing Mr Rolet out of his job. The hedge fund wants Mr Brydon to be sacked at a forthcoming shareholders meeting and Mr Rolet, who is due to step down next year, reinstated. ?" The Times Britain's biggest energy users are calling on the government to address gas security after the closure of the country's biggest storage facility. In a letter to Greg Clark, the energy secretary, a group of trade associations, unions and energy storage companies ask the government to look at the risk of a supply crunch leading to a severe price rise because of Britain's dependence on imported gas and lack of storage capacity. ?" The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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