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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 flat as investors brace for first rate hike since 2007 London stocks were little changed in early trade on Thursday as investors braced for what could be the first rate hike by the Bank of England in a decade. At 0830 BST, the FTSE 100 was flat at 7,487.23, while the pound was steady against the euro at 1.1399 and up 0.2% versus the dollar at 1.3265. The BoE rate announcement is at 1200 GMT, along with the quarterly inflation report, the minutes from the Monetary Policy Committee meeting and followed by a press conference with Governor Mark Carney 45 minutes later. Accendo Markets analyst Mike van Dulken said that even if the BoE does lift rates, "it won't really be a 25 basis points hike, more a reversal of last year's referendum-inspired cut". "As much as UK inflation is blowing too hot (3% versus 2% target), this is highly unlikely to signal the start of a Fed-like series of increases, normalising policy from crisis enforced extremes. Not with the uncertainty of Brexit hanging over the UK economy. "As always the 1245 GMT presser will be fun, with Governor Carney put through the ringer." Investors will also be digesting the latest policy announcement from the Federal Reserve overnight, as the US central bank stood pat on rates as expected. The Fed kept its interest rate target at between 1% and 1.25%, although its statement remained upbeat about the state of the US economy. All eyes will be on the US again on Thursday as US President Trump is due to announce Fed Chair Janet Yellen's successor, amid reports overnight he has already plumped for Fed Governor Jerome Powell. In corporate news, Wm Morrison was in the red despite reporting a 2.5% increase in third-quarter like-for-like sales, while Randgold Resources fell after the gold miner posted a drop in profit and production for the third quarter, but said it was on track to meet its 2017 guidance. RSA Insurance was also on the back foot after saying it has set aside £50m for US and Caribbean catastrophic events in the third quarter, warning that the number could rise. GlaxoSmithKline edged down despite saying that it has received FDA approval to fast-track a new cancer treatment. On the FTSE 250 Playtech tumbled after the gambling software development group said that its performance for the full year will be around 5% below the bottom end of market expectations due to a slowdown in Asia and challenges with its Sun Bingo contract. Lancashire Holdings was lower as it posted a third-quarter loss due to natural catastrophes, while Ashmore and Dunelm slipped as their stock went ex-dividend. Centamin retreated after posting a drop in third-quarter profit, while Acacia Mining declined as the gold producer said that both its chief executive and its chief financial officer have jumped shit just days after the miner's parent company caved in to the Tanzanian government in the midst of a months-long dispute over gold exports. On the upside, BT was in the black as the telecoms giant defied some doubting Thomases by maintaining its interim dividend despite challenges in some part of the business, including an accounting scandal in Italy. Howden Joinery, Tate & Lyle and Intu Properties were all trading higher after well-received updates |
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| | Market Movers FTSE 100 (UKX) 7,487.23 -0.01%
FTSE 250 (MCX) 20,334.22 0.03%
techMARK (TASX) 3,539.84 -0.11% FTSE 100 - Risers Mediclinic International (MDC) 590.00p 2.25%
Hammerson (HMSO) 529.00p 1.54%
Standard Chartered (STAN) 712.10p 1.01%
St James's Place (STJ) 1,193.00p 0.93%
Coca-Cola HBC AG (CDI) (CCH) 2,560.00p 0.91%
British Land Company (BLND) 598.00p 0.84%
National Grid (NG.) 905.60p 0.77%
Associated British Foods (ABF) 3,287.00p 0.77%
Ashtead Group (AHT) 1,940.00p 0.73%
British American Tobacco (BATS) 4,925.00p 0.70% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 7,120.00p -4.69%
Carnival (CCL) 4,869.00p -1.89%
Fresnillo (FRES) 1,298.00p -1.82%
RSA Insurance Group (RSA) 622.50p -1.66%
Morrison (Wm) Supermarkets (MRW) 221.50p -1.12%
easyJet (EZJ) 1,338.00p -0.82%
AstraZeneca (AZN) 5,117.00p -0.74%
Informa (INF) 689.00p -0.72%
GlaxoSmithKline (GSK) 1,342.00p -0.70%
Glencore (GLEN) 373.00p -0.68% FTSE 250 - Risers Howden Joinery Group (HWDN) 441.20p 6.98%
Intu Properties (INTU) 222.70p 4.50%
Ladbrokes Coral Group (LCL) 132.10p 3.93%
Tate & Lyle (TATE) 688.50p 3.61%
Close Brothers Group (CBG) 1,414.00p 3.06%
Sophos Group (SOPH) 637.00p 2.49%
Inmarsat (ISAT) 630.00p 2.36%
Travis Perkins (TPK) 1,540.00p 1.58%
IP Group (IPO) 150.80p 1.55%
Dixons Carphone (DC.) 171.40p 1.42% FTSE 250 - Fallers Electra Private Equity (ELTA) 962.50p -48.45%
Playtech (PTEC) 766.50p -22.30%
Ocado Group (OCDO) 268.50p -4.07%
Ashmore Group (ASHM) 374.10p -3.61%
Acacia Mining (ACA) 175.70p -3.46%
CYBG (CYBG) 305.10p -3.39%
Softcat (SCT) 528.00p -3.12%
Dunelm Group (DNLM) 699.50p -2.58%
Lancashire Holdings Limited (LRE) 741.50p -2.37% |
| | UK Event Calendar | | Thursday 02 November INTERIMS
3i Infrastructure, Tate & Lyle INTERIM DIVIDEND PAYMENT DATE
Downing Four VCT DP2011 Gen A Shs, Downing Four VCT DP2011 Str, Downing Four VCT DP2011 Str A Shs, Downing Four VCT DP2011Gen, Downing Four VCT DSO 'D' Shs, Good Energy Group INTERIM EX-DIVIDEND DATE
Amati VCT , Bloomsbury Publishing, Braemar Shipping Services, C&C Group, Hilton Food Group, IFG Group, Just Group, Laird, Mission Marketing Group, Morgan Advanced Materials , SThree, Warpaint London QUARTERLY EX-DIVIDEND DATE
Brunner Inv Trust, JPMorgan Claverhouse Inv Trust, Toro Limited , Unilever INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (12:30)
Initial Jobless Claims (US) (12:30)
PMI Composite (EU) (09:00)
PMI Manufacturing (EU) (09:00)
PMI Services (EU) (09:00)
Unemployment Rate (GER) (09:00) Q3
Indivior, Lancashire Holdings Limited, Royal Dutch Shell 'A', Royal Dutch Shell 'B', RSA Insurance Group IMSS
Schroders SPECIAL EX-DIVIDEND DATE
Aberdeen Asian Smaller Companies Investment Trust, Artemis VCT, Octopus Apollo VCT, Softcat, TR European Growth Trust AGMS
Go-Ahead Group, Schroder Japan Growth Fund TRADING ANNOUNCEMENTS
Amec Foster Wheeler, Croda International, Howden Joinery Group, Intu Properties, Morrison (Wm) Supermarkets, RSA Insurance Group UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00) FINAL DIVIDEND PAYMENT DATE
Redde FINAL EX-DIVIDEND DATE
Aberdeen Asian Smaller Companies Investment Trust, Ashmore Group, BlackRock Greater Europe Inv Trust, Dunelm Group, Ideagen, James Halstead, Jupiter Dividend & Growth Trust, Jupiter Dividend & Growth Trust Common, Jupiter UK Growth Investment Trust, NWF Group, Produce Investments, SCS Group , Softcat, TR European Growth Trust, Urals Energy Public Co Ltd. (DI)
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| | US Market Report | | US open: Buying momentum spills over into November Wall Street has begun the new month with fresh gains ahead of the US central bank's policy announcement later in the day and various readings on the economy that some analysts said pointed to GDP growth in the vicinity of 3% in the final stretch of 2017. At 1507 GMT, the Dow Jones Industrial Average was up by 0.38% or 89.55 points at 23.465.38, alonsgide a 0.32% gain for the S&P 500 to 2,583.49 and an advance of 0.10% for the Nasdaq Composite to 6,733.58. From a sector standpoint, the biggest gains were to be seen in Gambling (3.24%), Industrial metals (2.84%) and Distillers (2.74%). In parallel, the yield on the benchmark 10-year US Treasury note was off by two basis points to 2.36%. The Fed interest rate decision was due at 1800 GMT, with no change expected. Market participants would also be turning their attention to President Trump's announcement, due Thursday, about who will replace Janet Yellen as the Fed Chair following reports that he is leaning towards Fed Governor Jerome Powell. Konstantinos Anthis at ADS Securities said: "Given that there will be no changes in policy today the focus will be on the forward guidance the Fed decides to provide investors with and with no press conference scheduled for November's meeting market participants will be eager to read what the accompanying statement has to offer. "The dollar has been on the rise recently and even though it pulled back at the start of the week the bias remains to the upside. Should the Fed's statement point towards further tightening this year and more hikes in 2018 the dollar should extend its gains albeit at a moderate pace as traders will want to wait until Friday's non-farm payrolls report to avoid any unpleasant surprises." Investors were also be keeping an eye out for Trump's tax reform bill, which was meant to be released on Wednesday but has been pushed back a day to resolve some issues. On the economic front, the widely-followed ISM manufacturing sector purchasing managers' index slipped a tad more than expected in October, printing at 58.7, which was down from 60.8 for the previous month (consensus: 59.1). Such a reading, Mickey Levy and Roiana Reid at Berenberg Capital Markets said, was consistent with 3% GDP growth in the last quarter of the year. Despite the slight miss, it was also at the 82bn percentile of all historical readings. Also to take note of, according to ADP/Moody's private sector payrolls rose by 235,000 in October (consensus: 190,000) helped in part by reconstruction efforts in the wake of the recent hurricanes on the Gulf Coast. In corporate news, auto manufacturers were in focus, with GM having posted a 2% drop in sales to 252,813 units alongside 13% fewer vehicles sold by Fiat, although Ford reported a 6.4% increase. Sector wide estimates for the month of October were due out later on Wednesday. Shares of US Steel were also in the spotlight, jumping in the wake of better-than-expected quarterly numbers out overnight which helped to quell concerns around the company on the back of rival AK Steel's latest set of figures published the day before. In particular, market participants took note of stronger than forecast guidance. Meanwhile, in the background, investors were eyeing the first move by the nation's retailers to position ahead of Black Friday, as the day after the Thanksgiving holiday - which 'officially' marks the start of the holiday shopping season - is called with Amazon.com and E-Bay unveiling their plans for this critical quarter. Stock of Clorox was also in the green after its fiscal first-quarter earnings beat analysts' estimates, while Estee Lauder shares were rocketing as the cosmetics maker's first-quarter financials surpassed analysts' forecasts. Allergan was holding higher too after the biotech concern posted third-quarter adjusted earnings per share of $4.15 versus consensus expectations of $4.04, while Molson Coors was in focus as the brewer reported third-quarter adjusted EPS in line with expectations and said full-year targets are unchanged. Still to come, earnings were due from Facebook and Tesla after the close, along with Kraft, Heinz and Qualcomm. Dow Jones - Risers Cisco Systems Inc. (CSCO) $34.74 1.71%
Pfizer Inc. (PFE) $35.66 1.71%
Walt Disney Co. (DIS) $99.32 1.54%
Intel Corp. (INTC) $46.13 1.41%
Merck & Co. Inc. (MRK) $55.54 0.81%
Johnson & Johnson (JNJ) $140.48 0.77%
Goldman Sachs Group Inc. (GS) $244.31 0.75%
Wal-Mart Stores Inc. (WMT) $87.96 0.74%
Travelers Company Inc. (TRV) $133.39 0.71%
Visa Inc. (V) $110.67 0.63% Dow Jones - Fallers Apple Inc. (AAPL) $167.19 -1.09%
General Electric Co. (GE) $20.11 -0.26%
Boeing Co. (BA) $257.32 -0.26%
Verizon Communications Inc. (VZ) $47.78 -0.19%
Nike Inc. (NKE) $54.89 -0.18%
Microsoft Corp. (MSFT) $83.15 -0.03%
E.I. du Pont de Nemours and Co. (DD) $83.93 0.00%
Unitedhealth Group Inc. (UNH) $210.26 0.02%
International Business Machines Corp. (IBM) $154.13 0.05%
Coca-Cola Co. (KO) $46.00 0.05% S&P 500 - Risers Estee Lauder Co. Inc. (EL) $122.17 9.26%
United States Steel Corp. (X) $27.41 8.25%
Verisk Analytics Inc. (VRSK) $90.47 6.37%
Devon Energy Corp. (DVN) $39.09 5.93%
Garmin Ltd. (GRMN) $59.44 5.00%
Freeport-McMoRan Inc (FCX) $14.56 4.15%
Mylan Inc. (MYL) $37.09 3.86%
Southwestern Energy Co. (SWN) $5.76 3.69%
Marathon Oil Corp. (MRO) $14.73 3.55%
Murphy Oil Corp. (MUR) $27.58 3.10% S&P 500 - Fallers Frontier Communications Co. (FTR) $9.39 -22.46%
Pitney Bowes Inc. (PBI) $11.48 -16.45%
CenturyLink Inc. (CTL) $17.83 -6.11%
Electronic Arts Inc. (EA) $113.05 -5.48%
Cognizant Technology Solutions Corp. (CTSH) $71.84 -5.06%
Zimmer Biomet Holdings Inc (ZBH) $115.94 -4.67%
Under Armour Inc. Class A (UAA) $12.05 -3.75%
Fiserv Inc. (FISV) $124.60 -3.73%
Cerner Corp. (CERN) $65.01 -3.72%
Hanesbrands Inc. (HBI) $21.75 -3.33% Nasdaq 100 - Risers Verisk Analytics Inc. (VRSK) $90.47 6.37%
Mylan Inc. (MYL) $37.09 3.86%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $208.68 3.41%
Viacom Inc. Class B (VIAB) $24.73 2.91%
Wynn Resorts Ltd. (WYNN) $151.56 2.76%
Liberty Global Plc Lilac Class A (LILA) $22.29 2.62%
Biogen Inc (BIIB) $319.08 2.38%
QUALCOMM Inc. (QCOM) $52.22 2.37%
Liberty Global Plc Lilac Class C (LILAK) $22.51 2.32%
Liberty Global plc Series A (LBTYA) $31.48 2.04% Nasdaq 100 - Fallers Check Point Software Technologies Ltd. (CHKP) $105.27 -10.57%
Electronic Arts Inc. (EA) $113.05 -5.48%
Cognizant Technology Solutions Corp. (CTSH) $71.84 -5.06%
Fiserv Inc. (FISV) $124.60 -3.73%
Cerner Corp. (CERN) $65.01 -3.72%
Tesla Inc (TSLA) $322.26 -2.80%
NetEase Inc. Ads (NTES) $275.56 -2.26%
Alexion Pharmaceuticals Inc. (ALXN) $117.07 -2.16%
Idexx Laboratories Inc. (IDXX) $162.63 -2.13% |
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| | Newspaper Round Up | | Thursday newspaper round-up: Pay gap, Barclay brothers, Facebook, HSBC Women around the globe may have to wait more than two centuries to achieve equality in the workplace, according to new research. The World Economic Forum, best known for its annual gathering in the Swiss resort of Davos, said it would take 217 years for disparities in the pay and employment opportunities of men and women to end. This is significantly longer than the 170 years its researchers calculated a year ago. – Guardian The billionaire Barclay brothers have lost a legal battle with HM Revenue & Customs, after the supreme court ruled that they are not owed £1.25bn related to tax overpayments. The UK's highest court ruled on Wednesday that HMRC should not have to repay Littlewoods, the retailer owned Frederick and David Barclay, more than £1bn in "compound interest" on historic VAT overpayments. - Guardian Shares in Facebook oscillated in Wednesday after-hours trading as mobile advertising continued to drive revenue growth, but it warned over a hit to profitability from growing investment in security. Revenue for the three months ended Sep 30 was up 47pc on a year earlier to $10.3bn (£7.8bn), thanks to a 49pc increase in advertising revenue. Of this advertising revenue, around 88pc came from mobile adverts, up from 84pc a year earlier. " Telegraph Alex Salmond has joined a plot to topple the board and senior management of Johnston Press, pledging to revitalise the struggling publisher of the Scotsman and shift its corporate headquarters back north of the border. The Telegraph can reveal that the former First Minister of Scotland is collaborating with Christen Ager-Hanssen, the Norwegian activist investor behind the planned coup, who intends to nominate him to become chairman of Johnston Press. " Telegraph Nearly half a million British businesses are in "significant financial distress" in what Begbies Traynor described yesterday as the calm before a looming storm of insolvencies The restructuring specialist said that the number of businesses experiencing financial distress had reached "unprecedented" levels over the past 12 months. Many had "overstretched themselves, taking too many risks after being lulled into a false sense of security by the continued low interest rate environment". " The Times HSBC has been accused by Lord Hain, the former Labour cabinet minister, of "complicity" in a South African scandal involving allegations of money laundering by the Gupta family. Speaking in the House of Lords yesterday, he told peers that he had asked the Treasury to investigate an unnamed bank over claims that it had ignored warnings about the source of funds transferred by the Guptas. " The Times |
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