Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 22 November 2017 09:37:29 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 edge up ahead of Budget; Thomas Cook tanks London stocks edged tentatively higher in early trade on Wednesday as investors sifted through corporate releases ahead of the Autumn Budget. At 0825 GMT, the FTSE 100 was up 0.2% to 7,427.58, while the pound was down 0.1% against the euro at 1.1262 and 0.1% firmer versus the dollar at 1.3251. Konstantinos Anthis at ADS Securities said: "The focus for traders today will be the UK budget and any changes to the Chancellor's fiscal policy linked to a potential downgrade of the growth outlook. The Chancellor is in a tight spot as he is expected to deliver a fiscal package which will boost spending; however, this might be a rather difficult exercise due to the uncertainty caused by the Brexit negotiations and the unclear future relationship between the UK and the European Union. "The pound will react to any increased spending but the most likely scenario is that Hammond will present a balanced bill that will not satisfy those asking for significantly less austerity, which would be treated as a bearish development for sterling. "Moreover, there's significant risk to the downside for the pound today as the Office for Budget Responsibility is likely to downgrade their growth expectations for the new year in light of the uncertain future between UK and EU after Brexit takes place." The Autumn Statement is due at 1230 GMT, while the minutes from the latest Federal Reserve meeting are at 1900 GMT. In corporate news, Hammerson ticked up after the company sold its 64.5% share of the Place des Halles shopping centre in Strasbourg, France for a total net vendor price of £258m, slightly above June's book value. United Utilities edged higher as it said profit rose 10% in the first half as the water and waste management company increased revenue and cut costs. Business information and events group Euromoney advanced after posting a rise in annual profit and announcing the sale of its stake in Dealogic, while housebuilder and regeneration partner Countryside Properties rallied after it reported a jump in annual operating profit as revenue and completions grew amid strong demand. Kingfisher was boosted by an upgrade from Jefferies while Ferguson and Bunzl were up following upgrades at HSBC. Reckitt Benckiser, Informa and Qinetiq were trading higher after upgrades from JPMorgan, Kepler Cheuvreux and Berenberg, respectively. On the downside, Thomas Cook tanked after the travel company released its full-year results, which showed margins declined due to a more competitive market in holidays to Spain. FTSE 100 peer TUI was also in the red. GlaxoSmithKline slipped after saying that ViiV Healthcare, the global specialist HIV company which it majority owns with Pfizer and Shionogi as shareholders, has announced that the US Food and Drug Administration has approved Juluca. Accounting software developer Sage fell despite saying it kept revenue growth and margins above their annual target and announcing that the launch of its Business Cloud software suite would enable it to "accelerate momentum" in 2018. Hill & Smith nudged lower after saying trading in the period from 1 July to the end of October was in line with its expectations, with revenue up 4% on an organic basis. Nostrum Oil & Gas was in the red after Panmure Gordon cut the stock to 'hold'. Following the financial crisis, high street banks have funded fewer SME housebuilders Alternative finance providers are stepping in to fill this void, offering investors high margins and attractive returns. One of these lenders, Clearwell Capital is currently fundraising with a 3-year secured bond paying 10% per annum. Click here to find out more. Capital at risk. Market Movers FTSE 100 (UKX) 7,427.58 0.22% FTSE 250 (MCX) 19,984.99 0.21% techMARK (TASX) 3,473.05 0.11% FTSE 100 - Risers Reckitt Benckiser Group (RB.) 6,536.00p 2.11% Kingfisher (KGF) 314.70p 2.01% easyJet (EZJ) 1,368.00p 1.86% HSBC Holdings (HSBA) 741.90p 1.69% ITV (ITV) 149.10p 1.50% Mondi (MNDI) 1,761.00p 1.15% Antofagasta (ANTO) 975.50p 1.09% Bunzl (BNZL) 2,181.00p 1.07% Informa (INF) 751.00p 1.01% Glencore (GLEN) 365.10p 0.83% FTSE 100 - Fallers TUI AG Reg Shs (DI) (TUI) 1,305.00p -2.25% Babcock International Group (BAB) 688.50p -2.13% Sage Group (SGE) 765.00p -1.29% NMC Health (NMC) 2,818.00p -1.02% Mediclinic International (MDC) 503.00p -0.89% Intertek Group (ITRK) 5,130.00p -0.87% Convatec Group (CTEC) 196.50p -0.81% Johnson Matthey (JMAT) 3,136.00p -0.70% Next (NXT) 4,310.00p -0.69% Direct Line Insurance Group (DLG) 354.30p -0.67% FTSE 250 - Risers QinetiQ Group (QQ.) 211.30p 4.86% SSP Group (SSPG) 634.50p 4.53% Tullow Oil (TLW) 171.90p 3.68% Countryside Properties (CSP) 351.30p 3.51% CYBG (CYBG) 319.90p 3.46% Evraz (EVR) 289.20p 2.12% Weir Group (WEIR) 2,071.00p 1.87% Kaz Minerals (KAZ) 829.00p 1.78% Polypipe Group (PLP) 387.78p 1.75% Euromoney Institutional Investor (ERM) 1,175.00p 1.73% FTSE 250 - Fallers Thomas Cook Group (TCG) 106.00p -12.90% Aggreko (AGK) 842.00p -2.32% Brown (N.) Group (BWNG) 276.89p -2.06% St. Modwen Properties (SMP) 389.72p -1.96% Dignity (DTY) 1,817.00p -1.20% SIG (SHI) 167.10p -1.18% Auto Trader Group (AUTO) 325.00p -1.10% BTG (BTG) 763.00p -1.04% Card Factory (CARD) 268.03p -0.95% UK Event Calendar Wednesday November 22 INTERIMS Accsys Technologies, Biffa, Charles Stanley Group, Creightons, Eckoh, HICL Infrastructure Company Ltd, NewRiver REIT, Quiz, Syncona Limited NPV, United Utilities Group INTERIM EX-DIVIDEND DATE Zhejiang Expressway Co 'H' Shares INTERNATIONAL ECONOMIC ANNOUNCEMENTS Continuing Claims (US) (13:30) Crude Oil Inventories (US) (15:30) Durable Goods Orders (US) (13:30) Initial Jobless Claims (US) (13:30) MBA Mortgage Applications (US) (12:00) U. of Michigan Confidence (US) (15:00) GMS Tejoori Ltd FINALS Cambria Automobiles, Countryside Properties, Euromoney Institutional Investor, Sage Group, SSP Group , Thomas Cook Group AGMS Base Resources Ltd , CSF Group, F&C UK Real Estate Investments Limited, Finsbury Food Group, Ovoca Gold, Pantheon International , SCS Group , UIL Limited (DI) TRADING ANNOUNCEMENTS Breedon Group , Forterra, Hill & Smith Holdings, HSS Hire Group FINAL DIVIDEND PAYMENT DATE Galliford Try, Henderson EuroTrust, Ideagen 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 push higher on bullish chatter Markets on Wall Street finished higher on Tuesday amid a 'bullish' call on stocks out of Goldman Sachs, and against a backdrop of supportive economic data. The Dow Jones Industrial Average closed 0.69% higher at 23,590.83, the S&P 500 pushed ahead 0.65% at 2,599.03, and the Nasdaq 100 was 1.11% firmer at 6,378.63. In a research note entitled 'rational exuberance', strategists at Goldman Sachs earlier projected the S&P 500 would rise to 2,850 points by year-end 2018, if proposed tax reforms were approved. Should they fail, then the benchmark index would see a 5% drop near-term to 2,450. Concentrating on the positives, Goldman said an "extended profit cycle will support a rising US equity market through 2020". "Higher profits will support higher index levels … our S&P 500 year-end forecasts are 2850 in 2018, 3000 in 2019, and 3100 in 2020 for gains of 11%, 5%, and 3%." Also on the economic calendar was a speech from Federal Reserve chair Janet Yellen, who said on Monday that she will leave the central bank altogether when she steps down next year, choosing not to remain on the board until her term as governor expires in 2024. Yellen was due to make a speech at 2300 GMT as she takes part in an event at New York University's business school. "Janet Yellen's decision to step down next February is not really a surprise given her failure to be reappointed; I'm not sure many of us would do any differently were we in her shoes," noted IG's Chris Beauchamp earlier. "Her speech today will therefore have something of a valedictory quality, but she is now firmly in the 'lame duck' category of Fed presidents and thus her comments may not move the market as they once did. "Sic transit gloria, as they say." On the economic front, existing US home sales jumped 2% in October to reach an annualised clip of 5.48m, against consensus expectations for 5.40m. Meanwhile, the three-month moving average for the Federal Reserve bank of Chicago's national activity index picked up from a reading of 0.01 for September to 0.28 in October. In corporate news, Intuit was 3.8% lower following better-than-expected earnings late on Monday, but disappointing guidance. Drug distributor AmerisourceBergen was also in focus, rising 2.58% after agreeing on Monday to buy independent wholesaler H.D. Smith for $815m. Elsewhere, investors were pushing back on the Campbell Soup Company, sending shares 8.19% lower after management issued a warning on full-year profits. Dollar Tree was ahead 2.42% after the company sprinted past analysts' forecasts, posting third quarter earnings per share of $1.01 on sales of $5.32bn. Analysts had pencilled in earnings per share of just 90 cents on $5.28bn-worth of revenues for the discount retailer. Stone Energy was under the cosh, falling 15.55% after announcing its intention to tie the knot with privately-held Talos Energy. Dow Jones - Risers Apple Inc. (AAPL) $173.14 1.86% Microsoft Corp. (MSFT) $83.72 1.44% Home Depot Inc. (HD) $172.86 1.41% Visa Inc. (V) $111.45 1.36% 3M Co. (MMM) $234.12 1.12% Unitedhealth Group Inc. (UNH) $212.61 1.12% International Business Machines Corp. (IBM) $151.93 0.96% Boeing Co. (BA) $266.99 0.89% McDonald's Corp. (MCD) $168.35 0.82% Intel Corp. (INTC) $44.94 0.72% Dow Jones - Fallers Wal-Mart Stores Inc. (WMT) $96.50 -0.98% General Electric Co. (GE) $17.83 -0.83% JP Morgan Chase & Co. (JPM) $98.93 -0.08% Goldman Sachs Group Inc. (GS) $237.99 -0.05% Verizon Communications Inc. (VZ) $46.21 -0.04% Nike Inc. (NKE) $59.39 0.24% Walt Disney Co. (DIS) $102.96 0.24% Johnson & Johnson (JNJ) $138.34 0.30% Merck & Co. Inc. (MRK) $54.28 0.31% Chevron Corp. (CVX) $115.17 0.39% S&P 500 - Risers Jacobs Engineering Group Inc. (JEC) $64.86 9.30% TripAdvisor Inc. (TRIP) $32.81 7.64% Medtronic Plc (MDT) $82.66 4.77% Viacom Inc. Class B (VIAB) $27.26 4.17% Endo International Plc (ENDP) $7.57 4.13% Csra Inc. (CSRA) $28.65 4.10% Urban Outfitters Inc. (URBN) $29.32 3.71% Micron Technology Inc. (MU) $49.40 3.69% Hormel Foods Corp. (HRL) $34.51 3.35% McKesson Corp. (MCK) $142.86 3.35% S&P 500 - Fallers Signet Jewelers Ltd (SIG) $52.78 -30.39% Campbell Soup Co. (CPB) $45.82 -8.19% Spectra Energy Corp. (SE) $14.78 -4.58% Under Armour Inc. Class A (UAA) $12.85 -4.39% Intuit Inc. (INTU) $151.79 -3.80% Analog Devices Inc. (ADI) $90.19 -3.09% Newell Brands Inc (NWL) $27.97 -2.95% Bed Bath & Beyond Inc. (BBBY) $20.27 -2.83% Advance Auto Parts (AAP) $88.93 -2.73% Darden Restaurants Inc. (DRI) $80.33 -2.38% Nasdaq 100 - Risers Viacom Inc. Class B (VIAB) $27.26 4.17% Micron Technology Inc. (MU) $49.40 3.69% Tesla Inc (TSLA) $317.81 2.94% Shire Plc Ads (SHPG) $144.83 2.45% Dollar Tree Inc (DLTR) $99.46 2.42% Baidu Inc. (BIDU) $244.30 2.41% Paypal Holdings Inc (PYPL) $77.77 2.32% KLA-Tencor Corp. (KLAC) $104.73 2.17% Applied Materials Inc. (AMAT) $58.80 2.05% American Airlines Group (AAL) $48.65 2.01% Nasdaq 100 - Fallers Intuit Inc. (INTU) $151.79 -3.80% Analog Devices Inc. (ADI) $90.19 -3.09% O'Reilly Automotive Inc. (ORLY) $215.69 -2.13% Tractor Supply Company (TSCO) $64.87 -1.31% Liberty Global Plc Lilac Class A (LILA) $21.55 -1.19% Liberty Global Plc Lilac Class C (LILAK) $21.57 -0.83% Discovery Communications Inc. Class A (DISCA) $17.25 -0.63% Cintas Corp. (CTAS) $147.58 -0.45% Discovery Communications Inc. Class C (DISCK) $16.21 -0.43% 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! Newspaper Round Up Wednesday newspaper round-up: Uber hack, Hinckley Point, LSE Uber concealed a massive global breach of the personal information of 57 million customers and drivers in October 2016, failing to notify the individuals and regulators, the company acknowledged on Tuesday. Uber also confirmed it had paid the hackers responsible $100,000 to delete the data and keep the breach quiet, which was first reported by Bloomberg. – Guardian MPs have accused the government of failing to protect consumers over the price it has promised to pay for power from the Hinkley Point C nuclear plant. The Commons public accounts committee said the subsidy contract for Hinkley Point C, agreed in 2016 after years of delays, would hit poorest households hardest. ?" Guardian With the latest technology at their fingertips, modern water companies should be better than ever at finding and fixing leaks. But it turns out many of them are making use of a rather less cutting edge method ?" magic. Ten out of 12 major water suppliers in the UK admitted to using "dowsing" or "divining rods" to detect underground water, a method which has been widely discredited by modern science. The rods were once believed to twitch in the hands of a "diviner" to point to underground reserves, a method which is believed to date back to the 15th century. ?" Telegraph One of the London Stock Exchange's top investors has urged the Governor of the Bank of England to step in and remove the exchange's chairman, in a significant escalation of one of the most bitter City spats in recent memory. Sir Christopher Hohn has written the latest of a series of open letters to Douglas Brydon, the chairman of the LSE, in which he has warned him to not "undertake a character assassination" of the exchange's chief executive Xavier Rolet, arguing this will make it harder to hire future executives. ?" Telegraph Auditors who sign off flawed accounts could face fines of more than £10 million after a watchdog said that it would be raising the penalties it could impose on those who breached its professional code of conduct. The Financial Reporting Council said that "seriously poor" audit work by the Big Four accountancy firms would lead to larger financial penalties after a review of its sanctions by Sir Christopher Clarke, a former judge. ?" The Times Two North Sea projects were sold yesterday to new-generation explorers. BP, the oil major, sold three fields to Serica Energy for up to £300 million, while Ineos paid a "substantial" sum that could lead to the development of a new gasfield. Ineos is targeting an area 93 miles north of the Shetland Islands, where there is estimated to be up to three trillion cubic feet of gas. - The Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 GSK GlaxoSmithKline plc 7.39 2 HL. Hargreaves Lansdown plc 4.21 3 SLA Standard Life Aberdeen Plc 3.68 4 RCP RIT Capital Partners plc 2.78 5 FGT Finsbury Growth & Income Trust plc 2.66 6 TW. Taylor Wimpey plc 2.26 7 FRCL Foreign & Colonial Investment Trust plc 1.72 8 PFC Petrofac 1.42 9 BLND British Land Co plc 1.14 10 GGP Greatland Gold Plc 1.10 Number of Deals Sold Place EPIC Equity name % 1 GGP Greatland Gold Plc 2.20 2 IQE IQE plc 1.76 3 VOD Vodafone Group plc 1.53 4 UKOG UK Oil & Gas Investments plc 1.42 5 LLOY Lloyds Banking Group plc 1.30 6 CLLN Carillion plc 1.29 7 ZIOC Zanaga Iron Ore Company Ltd (DI) 1.09 8 BOO Boohoo.com 1.01 9 BP. BP Plc 0.90 10 RDSB Royal Dutch Shell Plc B Shares 0.88   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