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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 in the red as attention turns to Germany London stocks fell in early trade on Monday, with sentiment undermined by developments in Germany. At 0820 GMT, the FTSE 100 was down 0.4% to 7,351.40, with the pound up 0.3% against the euro and the dollar at 1.1251 and 1.3248, respectively. Spreadex analyst Connor Campbell said: "Despite Theresa May being caught between a rock made out of the EU wanting the UK to cough up the money for its financial 'obligations', and a hard place constructed from Michael Gove and Boris Johnson-led Leavers seeking justification for the £40 billion divorce bill, the main driver this Monday came out of Germany. "Angela Merkel and the CDU are yet to form a coalition government despite it being almost two months since the German federal elections, and with the Free Democratic Party walking out of talks last night the Chancellor's hopes of doing so any time soon suffered a significant blow. If Merkel can't get the FDP back on board she may have to form a minority government, or, worst-case scenario, send the German public back to the polls." In UK corporate news, Eastern Europe-focussed low cost airline Wizz Air flew a little lower despite announcing a massive expansion at its Luton base, with the addition of four Airbus A320 aircraft to its fleet there by June 2018. Outsourcer Mitie was in the red after posting a drop in profit for the first half despite a rise in revenue, as it continues to invest in its cost-saving programme. Also on Monday, the Financial Reporting Council said it was opening an investigation under its accounting scheme in relation to the preparation and approval of Mitie's accounts for the year ended 31 March 2016 Nex Group fell sharply as it reported a fall in first-half profit amid challenging market conditions, while William Hill slipped despite the bookmaker saying it was on track to deliver on its 2018 expectations. Spire Healthcare slumped as FTSE 100-listed Mediclinic International said it won't make another bid for the healthcare operator. Shire was under the cosh after Switzerland's Roche announced two trial wins, with successes for a lung cancer drug and a haemophilia drug. On the upside, British Gas owner Centrica was on the front foot after saying it will replace its standard variable tariff with new fixed-term tariffs as it called on the government, energy regulator and industry to make several to "create a market that works for everyone". Tritax Big Box nudged up after announcing the acquisition of two logistics facilities, while Diploma advanced after posting a 19% jump in its full-year adjusted pre-tax profit. ZPG racked up healthy gains after RBC Capital Markets initiated coverage of the stock at 'outperform', while Thomas Cook was up after HSBC started coverage of the stock at 'buy'. |
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| | Market Movers FTSE 100 (UKX) 7,351.40 -0.40%
FTSE 250 (MCX) 19,763.49 -0.17%
techMARK (TASX) 3,431.16 -0.48% FTSE 100 - Risers Fresnillo (FRES) 1,310.00p 1.08%
Barclays (BARC) 186.65p 0.89%
Convatec Group (CTEC) 206.90p 0.73%
easyJet (EZJ) 1,290.00p 0.70%
Morrison (Wm) Supermarkets (MRW) 210.76p 0.65%
NMC Health (NMC) 2,717.00p 0.63%
Babcock International Group (BAB) 762.50p 0.46%
CRH (CRH) 2,711.55p 0.43%
Sky (SKY) 943.20p 0.34%
Centrica (CNA) 163.74p 0.33% FTSE 100 - Fallers Shire Plc (SHP) 3,609.00p -1.89%
Standard Chartered (STAN) 716.90p -1.27%
Glencore (GLEN) 350.20p -0.92%
London Stock Exchange Group (LSE) 3,812.00p -0.88%
AstraZeneca (AZN) 4,932.95p -0.85%
BT Group (BT.A) 243.55p -0.75%
Bunzl (BNZL) 2,143.00p -0.74%
Micro Focus International (MCRO) 2,678.00p -0.70%
Pearson (PSON) 693.00p -0.65%
Schroders (SDR) 3,475.00p -0.63% FTSE 250 - Risers ZPG Plc (ZPG) 341.90p 3.36%
SIG (SHI) 159.50p 2.90%
Diploma (DPLM) 1,097.00p 2.52%
Thomas Cook Group (TCG) 113.70p 2.16%
Nostrum Oil & Gas (NOG) 357.10p 1.94%
Genus (GNS) 2,233.60p 1.90%
Sirius Minerals (SXX) 25.70p 1.77%
FirstGroup (FGP) 105.94p 1.76%
Equiniti Group (EQN) 292.18p 1.73%
Redrow (RDW) 602.85p 1.32% FTSE 250 - Fallers Spire Healthcare Group (SPI) 250.00p -7.30%
Morgan Advanced Materials (MGAM) 315.30p -2.29%
CYBG (CYBG) 306.22p -2.07%
Nex Group (NXG) 585.00p -2.01%
Phoenix Group Holdings (DI) (PHNX) 748.50p -1.96%
Capital & Counties Properties (CAPC) 257.50p -1.90%
Cranswick (CWK) 2,938.67p -1.85%
Balfour Beatty (BBY) 260.10p -1.77%
Jardine Lloyd Thompson Group (JLT) 1,267.00p -1.71% |
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| | UK Event Calendar | | Monday November 20 INTERIMS
Bonmarche Holdings, Mitie Group, Nex Group INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (GER) (07:00) GMS
SQN Asset Finance Income Fund Limited FINALS
Diploma, Progility SPECIAL DIVIDEND PAYMENT DATE
Barratt Developments AGMS
SQN Asset Finance Income Fund Limited TRADING ANNOUNCEMENTS
TT Electronics, William Hill FINAL DIVIDEND PAYMENT DATE
Barratt Developments
|
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks start slightly higher, analysts wary Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce. At 0811 GMT, the benchmark Stoxx 600 was ahead by 0.04% or 0.17 points to 385.10, alongside a rise of 0.20% or 25.62 points to 13,072.84 for the German Dax but a dip of 0.03% or 7.36 points for the FTSE Mibtel to 22,199.24. "European markets managed to snap their five day losing streak yesterday, as some cautious buyers returned to the fray after the worst run of daily losses so far this year. The big question remains as to whether this is merely a pause in the context of a wider correction or whether we'll see a resumption of the uptrend that has been in place since the beginning of 2016. "Having seen sharp declines last week it remains to be seen whether we'll see two successive weekly declines for markets in Europe, as we head into the weekend," said Michael Hewson, chief market analyst at CMC Markets UK. The economic calendar was light at the end of the week, with only euro area current account data for September set for release at 1000 GMT, alongside figures on construction output in the single currency bloc due out at 1000 GMT. Later in the session, US housing starts data for October were expected at 1330 GMT, followed by a speech from San Francisco Fed boss John Williams at 2230 GMT. Speaking on Thursday evening, Williams called a re-think of how central banks, globally, can stimulate their economies when many of them are facing the so-called zero bound on interest rates - including the impact of 'spill-over' effects. |
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Stocks end week on a soft note, White House in focus Wall Street went into the weekend before Thanksgiving Day slightly lower, with analysts continuing to mull developments regarding Russia's alleged involvement in the US presidential election. By the closing bell, the Dow Jones Industrial Average was 0.43% or 100.12 points lower at 23,358.24, alongside a 0.26% or 6.79 point dip on the S&P 500 to 2,578.85 while the Nasdaq Composite ended down by 0.15% or 10.50 points at 6,782.79. However, despite Friday's losses the NYSE's advance/decline ratio was at nearly 2.0. From a sector standpoint, the weakest segments of the market were: Trucking (-1.49%), Marine Transportation (-1.11%) and Waste&Disposal (-1.10%). Oanda analyst Craig Erlam said: "Strong gains yesterday left US equity markets back within touching distance of record highs and while that will have given some investors' confidence that the recent stumble has passed, an inability to hold onto these today still leaves markets vulnerable to a broader pull-back. A failure to make a new high is typically another warning that the trend is weakening, especially coming after a month in which it has fallen into a sideways trend, rather than continuing its gradual ascent. "Slow progress on tax reform in the US and reports that Robert Mueller has issued a subpoena to the Trump campaign in relation to the Russia probe are two other things that are being blamed for the more risk averse tone but I think in reality, neither of these would have had such an impact a month ago and it's probably more a reflection of a less bullish investor." Erlam added that from a technical perspective, 23,250 now looks like a very important level for the Dow and a break below here could trigger a bigger correction in the index. "Given the steady gains we've seen over the last few months, even move back towards 23,000 would only represent a small correction in the most recent rally and would be healthy for markets." On the data front, US housing starts shot higher by 13.7% in October to hit an annualised rate of 1.290. Economists at Barclays told clients such strong momentum would not last, but the strong reading for last month nevertheless pushed their tracking estimate for fourth quarter GDP up by a tenth of a percentage point to 2.8%. Stock of Abercrombie & Fitch rocketed after the retailer posted better-than-expected third-quarter earnings and revenue. Electric car maker Tesla was also on the front foot after it launched a semi-autonomous electric big rig late on Thursday, which it promised will deliver big cost efficiencies. 21st Century Fox found a strong bid following reports that Comcast and Verizon Communications were looking to bid for some of its assets. Foot Locker was another top gainer after its third-quarter sales and profit dropped less than expected. Dow Jones - Risers Nike Inc. (NKE) $59.19 3.42%
Verizon Communications Inc. (VZ) $45.42 1.45%
Home Depot Inc. (HD) $167.74 0.14%
American Express Co. (AXP) $93.67 0.14%
Chevron Corp. (CVX) $114.71 0.12%
Dowdupont Inc. (DWDP) $70.74 0.08%
Cisco Systems Inc. (CSCO) $35.90 0.06%
Merck & Co. Inc. (MRK) $55.20 0.05%
3M Co. (MMM) $229.36 -0.03%
International Business Machines Corp. (IBM) $148.97 -0.10% Dow Jones - Fallers Intel Corp. (INTC) $44.63 -2.23%
Wal-Mart Stores Inc. (WMT) $97.47 -2.16%
Coca-Cola Co. (KO) $45.71 -1.80%
United Technologies Corp. (UTX) $116.55 -1.15%
Visa Inc. (V) $109.82 -1.08%
Microsoft Corp. (MSFT) $82.40 -0.96%
Procter & Gamble Co. (PG) $88.43 -0.92%
McDonald's Corp. (MCD) $166.70 -0.82%
Travelers Company Inc. (TRV) $129.91 -0.68%
Johnson & Johnson (JNJ) $137.98 -0.63% S&P 500 - Risers Viacom Inc. Class B (VIAB) $26.15 10.38%
Ross Stores Inc. (ROST) $72.25 9.99%
Gap Inc. (GPS) $29.38 6.99%
Twenty-First Century Fox Inc Class B (FOX) $30.48 6.57%
Twenty-First Century Fox Inc Class A (FOXA) $31.15 6.24%
Southwestern Energy Co. (SWN) $6.45 5.74%
Target Corp. (TGT) $58.14 5.52%
Urban Outfitters Inc. (URBN) $27.90 5.48%
Kroger Co. (KR) $23.40 5.07%
Range Resources Corp. (RRC) $18.03 4.83% S&P 500 - Fallers Ryder System Inc. (R) $76.35 -4.88%
Cummins Inc. (CMI) $159.43 -4.62%
PACCAR Inc. (PCAR) $66.69 -4.32%
SCANA Corp. (SCG) $43.45 -3.44%
Cognizant Technology Solutions Corp. (CTSH) $72.91 -3.28%
KLA-Tencor Corp. (KLAC) $101.65 -2.98%
Tenet Healthcare Corp. (THC) $13.24 -2.65%
Electronic Arts Inc. (EA) $108.82 -2.49%
Comcast Corp. (CMCSA) $36.16 -2.45%
CH Robinson Worldwide Inc (CHRW) $78.44 -2.44% Nasdaq 100 - Risers NetEase Inc. Ads (NTES) $367.50 12.65%
Viacom Inc. Class B (VIAB) $26.15 10.38%
Ross Stores Inc. (ROST) $72.25 9.99%
Twenty-First Century Fox Inc Class B (FOX) $30.48 6.57%
Twenty-First Century Fox Inc Class A (FOXA) $31.15 6.24%
Discovery Communications Inc. Class A (DISCA) $17.55 4.71%
Discovery Communications Inc. Class C (DISCK) $16.46 4.71%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $215.10 4.44%
Mercadolibre Inc. (MELI) $269.73 2.76%
Liberty Interactive Corporation QVC Group (QVCA) $24.86 2.64% Nasdaq 100 - Fallers PACCAR Inc. (PCAR) $66.69 -4.32%
Cognizant Technology Solutions Corp. (CTSH) $72.91 -3.28%
KLA-Tencor Corp. (KLAC) $101.65 -2.98%
Electronic Arts Inc. (EA) $108.82 -2.49%
Comcast Corp. (CMCSA) $36.16 -2.45%
Applied Materials Inc. (AMAT) $56.49 -2.33%
Intel Corp. (INTC) $44.63 -2.23%
Liberty Global Plc Lilac Class A (LILA) $21.42 -1.74%
Paypal Holdings Inc (PYPL) $76.38 -1.70% |
| | Newspaper Round Up | | Monday newspaper round-up: Brexit offer, retail spending, aerospace warning Ministers are expected to sign off an improved financial offer to the European Union today that Downing Street hopes will unblock the Brexit negotiations. Theresa May will lay out her plans at a meeting of cabinet ministers, including the Leave supporters Boris Johnson, Michael Gove and David Davis. If the proposals are approved, she will present them on Friday to Donald Tusk, the European Council president. - The Times British shoppers could spend less on Christmas for the first time since 2012, as a fall in real wages and continuing economic uncertainty put a brake on celebrations. A slump in spending on Christmas getaways, as well as cutbacks on clothing and household goods, are expected to result in a 0.1% dip in UK spending during the key shopping period of November and December, according to research compiled by IHS Markit for Visa, the card provider. - Guardian Britain's aerospace exporters will warn parliament on Monday of a crippling £1.5bn-a-year headwind if ministers fail to agree urgent new customs and regulatory deals with the EU. Adding to pressure for the government to come clean about its long-term Brexit strategy, the industry will also provide written evidence to the Commons business select committee that the uncertainty is already forcing it to look at moving jobs abroad. - Guardian Germany was plunged into political crisis last night by the collapse of coalition talks that could trigger fresh elections and put Angela Merkel's future on the line. Mrs Merkel's attempts to create a four-party government failed when the pro-business Free Democrats walked out shortly before midnight after repeatedly clashing with the left-wing Greens. - The Times The government is under pressure to change the law to tackle bogus self-employment and protect workers in the gig economy after a report published on Monday by two influential parliamentary committees. The work and pensions select committee and the business, energy and industrial strategy (BEIS) committee have prepared draft legislation intended to close the loopholes that allow "irresponsible companies to underpay workers". - Guardian House building is the "number one priority" in the Budget and the "powers of the state" will be used to force construction numbers up to 300,000 per year, the Chancellor has promised. The green belt will stay intact but other parts of the planning system will be reformed in an effort to get more permissions granted - and to force more landowners with planning permission to get on and build. - Telegraph Chancellor Philip Hammond is this week expected to risk a new political storm by announcing plans to raise billions of pounds from Britain's army of self-employed workers and contractors. In a speech that economists said would be cautious, the Chancellor is likely to tighten the tax rules under which freelance workers are paid. - Mail Brexit has cost the average worker a week's pay in lower real wage growth and higher inflation, according to an analysis by academic economists. Prices since the referendum have risen fastest in products with high import shares, such as bread, eggs and milk as well as furniture and jewellery, the report by the Centre for Economic Performance (CEP) at the London School of Economics said. - The Times Farmers should be means-tested after Brexit to end the payment of vast subsidies to wealthy landowners, according to a Conservative think tank. The EU system of paying farmers according to how much land they own should be replaced by payments for environmental benefits plus a "means-tested livelihood support" for the poorest, the report by Bright Blue says. - The Times The government is being urged to avoid "penalising" families and businesses with another hike in the tax on insurance policies, amid speculation that Philip Hammond may be planning a fresh increase in Wednesday's budget. Insurance premium tax (IPT), which is added to more than 50m general insurance policies each year, including those for cars, homes and private medical cover, rose to 12% earlier this year ?" which means it has doubled since 2015. - Guardian Around 28,000 pensioners who used to work at Carillion could end up owning a stake in the construction company under plans to keep it afloat. The outsourcer, which is now worth just a tenth of what it was a year ago, warned last week that it expects to breach covenants by the end of this year following delays to asset sales and cost-cutting efforts. - Telegraph Wood Group, the oil services engineer, is preparing for a showdown with investors over plans to give its chief executive a 25 per cent pay rise next year, as it makes up to 1,000 staff redundant. At least one top-ten shareholder has told the company it will reject the remuneration deal for Robin Watson if submitted at the annual meeting. The proposal was set out in a letter to investors. - The Times Toshiba has announced plans to sell Westinghouse, its bankrupt nuclear reactor business, in a move that could help rescue the stricken Moorside nuclear power plant project in Cumbria. The embattled Japanese conglomerate announced on Sunday that it would raise 600bn yen (£4bn) as it seeks to shore up cash to avoid being de-listed from the Tokyo Stock Exchange. - Telegraph A broadband company backed by George Soros, the billionaire financier, is working with 100 of Britain's biggest property developers, including Barratt, Berkeley Homes and Crest Nicholson, to lay 1GB high-speed connections to newly built houses and flats. Hyperoptic, which raised £100 million from a consortium of banks in July and £50 million from Mr Soros's Quantum Strategic Partners fund in an earlier fundraising, is one of a handful of independent operators in the UK broadband market, building their own rival networks to compete with BT and Virgin Media. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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