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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 up as investors mull stress tests but miners cap upside London stocks edged higher in early trade on Tuesday as investors breathed a sigh of relief that all major UK banks have passed the Bank of England's stress tests, but upside was capped by weakness in the mining sector. At 0830 GMT, the FTSE 100 was up 0.2% to 7,400.03, while the pound was flat against the euro at 1.1188 and 0.1% against the dollar at 1.3332. The Bank of England said none of the seven high street banks needs to strengthen its capital position as a result of its stress tests, the first time this has happened since tests were launched in 2014. In the test, banks incurred hypothetical losses of around £50bn in the first two years of the stress, which, the Bank said, would have wiped out the common equity capital base of the UK banking system ten years ago. Although none of the banks failed the stress tests, Barclays and Royal Bank of Scotland fell below their systemic reference points, which are the capital ratios required to withstand any shocks to the financial system without needing a bailout. Last year, both banks were told to build up their finances. Spreadex analyst Connor Campbell said: "While all seven lenders passed for the first time since 2014, Barclays and RBS only did so by the skin of their teeth, with both banks reliant on capital raised throughout 2017 rather than their 2016 end-point like their peers." He pointed out that "neither were too fussed," however, with RBS shares nudging a touch higher and Barclays just a little weaker. Elsewhere, Royal Dutch Shell gushed higher after saying it will begin paying a cash dividend again in the fourth quarter of this year as a strategy update from the oil giant saw cash flow targets and pledge to continue cutting debt. Budget airline EasyJet flew higher after upgrades from Kepler Cheuvreux and Societe Generale, while SIG was boosted by upgrade to 'buy' at Jefferies and Cineworld rose after Numis lifted it to 'buy'. AstraZeneca ticked up after saying that the European Medicines Agency has accepted a variation to the Marketing Authorisation Application for Tagrisso. Shares in Ocado surged as much as 27% after the online grocery retailer said has signed an agreement with Groupe Casino to develop its Smart Platform in France. Real estate investment trust Shaftesbury was in the black as it posted a jump in full-year profit, while food producer and supplier Cranswick rallied as it reported a rise in profit and revenue for the first half and hiked its dividend by 15%. On the downside, heavily-weighted miners declined as copper prices fell, with Glencore, BHP Billiton and Antofagasta all on the back foot. Irish food company Greencore was in the red as it posted a 74% drop in pre-tax profit for the year to the end of September, Pets at Home slipped after its interim results and as it announced CEO Ian Kellett will step down from the role, to be replaced by Peter Pritchard, who is currently CEO of the retail division. Provident Financial nudged down as the doorstep lender announced boardroom changes, while UDG Healthcare was weaker despite reporting a 17% increase in full-year profit. Associated British Foods was hit by a Morgan Stanley downgrade and Dixons Carphone by a downgrade from Stifel. |
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| | Market Movers FTSE 100 (UKX) 7,400.03 0.22%
FTSE 250 (MCX) 19,933.17 0.26%
techMARK (TASX) 3,475.07 0.27% FTSE 100 - Risers Royal Dutch Shell 'A' (RDSA) 2,356.00p 1.75%
Royal Dutch Shell 'B' (RDSB) 2,400.00p 1.65%
easyJet (EZJ) 1,405.00p 1.44%
Ashtead Group (AHT) 1,930.00p 1.37%
Worldpay Group (WPG) 421.50p 1.27%
Morrison (Wm) Supermarkets (MRW) 213.90p 0.80%
International Consolidated Airlines Group SA (CDI) (IAG) 608.00p 0.75%
Unilever (ULVR) 4,267.50p 0.73%
AstraZeneca (AZN) 5,001.00p 0.65%
Kingfisher (KGF) 318.90p 0.63% FTSE 100 - Fallers Glencore (GLEN) 351.25p -1.89%
Rolls-Royce Holdings (RR.) 869.50p -1.47%
BHP Billiton (BLT) 1,374.00p -1.33%
Antofagasta (ANTO) 933.50p -1.22%
Associated British Foods (ABF) 2,999.00p -0.96%
SSE (SSE) 1,344.00p -0.74%
British Land Company (BLND) 615.50p -0.73%
Rio Tinto (RIO) 3,585.00p -0.72%
Anglo American (AAL) 1,420.50p -0.66%
Land Securities Group (LAND) 915.92p -0.66% FTSE 250 - Risers Ocado Group (OCDO) 327.60p 27.87%
SIG (SHI) 173.80p 5.65%
Ascential (ASCL) 371.60p 4.41%
Cineworld Group (CINE) 676.10p 3.30%
Euromoney Institutional Investor (ERM) 1,178.00p 3.15%
Grafton Group Units (GFTU) 762.50p 2.42%
Genus (GNS) 2,258.00p 2.13%
Bovis Homes Group (BVS) 1,110.97p 1.92%
Cranswick (CWK) 3,075.00p 1.92%
Fisher (James) & Sons (FSJ) 1,596.00p 1.92% FTSE 250 - Fallers Sophos Group (SOPH) 595.50p -7.82%
Dixons Carphone (DC.) 152.60p -2.99%
Greencore Group (GNC) 186.90p -2.61%
UDG Healthcare Public Limited Company (UDG) 839.00p -2.56%
Inmarsat (ISAT) 467.90p -2.36%
Kaz Minerals (KAZ) 788.00p -1.68%
Renewi (RWI) 102.00p -1.16%
Dignity (DTY) 1,835.00p -1.13%
Vedanta Resources (VED) 748.30p -1.08% |
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| | UK Event Calendar | | Tuesday November 28 INTERIMS
Acal, Alpha Financial Markets Consulting, BCA Marketplace, Cranswick, D4T4 Solutions, GB Group, IG Design Group, KCOM Group, KCOM Group, Park Group, Pets at Home Group , Scholium Group, Scholium Group, ULS Technology QUARTERLY EX-DIVIDEND DATE
Canadian General Investments Ltd. INTERNATIONAL ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (GER) (07:00)
House Price Index (US) (13:00)
M3 Money Supply (EU) (08:00) Q3
PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S) FINALS
Gooch & Housego, Greencore Group, ITE Group, Sanderson Group, Shaftesbury, Topps Tiles, Treatt, UDG Healthcare Public Limited Company, Urban&Civic AGMS
Berkeley Energia Limited (DI), Blancco Technology Group, City Natural Resources High Yield Trust, Clinigen Group, Ferguson, JPMorgan Smaller Companies Inv Trust, Scotgold Resources (DI), Surface Transforms, Town Centre Securities, Wilmcote Holdings NPV, Wolf Minerals Limited UK ECONOMIC ANNOUNCEMENTS
Index of Services (08:30)
Nationwide House Price Index (07:00)
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| | US Market Report | | US close: Markets mixed on busy day for M&A Wall Street finished on a mixed note on Monday, having been buoyed by gains in retailers and a strong reading on new home sales earlier in the session. The Dow Jones Industrial Average finished up 0.1% at 23,580.78, while the S&P 500 fell 0.04% to 2,601.42 and the Nasdaq 100 was off 0.05% at 6,405.97. Investors were watching for any developments as regards the Republicans' tax plans as a Senate vote on proposed tax changes was expected as early as Tuesday. Not far from traders' minds, the price of Bitcoin was up by 3.4% at $9,644.11, according to Coindesk. "US stocks are back to normal today, with the recovery from Thanksgiving overindulgence complete," said Chris Beauchamp, chief market analyst at IG. "Tax reform looks a bit less of a done deal today, and it is strange to see the market so blissfully unconcerned. "Perhaps it is the thought of a festive rally into year-end that is keeping them stable, or perhaps they're hoping Mr Trump will pull a rabbit out of the hat." Economic data on Monday was limited to monthly home sales figures and the Federal Reserve bank of Dallas's regional manufacturing gauge. New homes sales jumped by 6.2% on the month in October to reach an annualised pace of 685,000, ahead of consensus expectations for 624,000. With a focus on the South, the Dallas Fed's factory sector index fell back by 10.0 points from its October level to a reading of 15.1 in November. In the corporate space, traders were busy reacting to the latest news flow on weekend merger and acquisition deals. Shares of Time Inc. were up by 9.47%, outpacing gains after Meredith Corp inked a deal to buy the magazine publisher for $2.8bn. Unusually for a suitor company, which got the financial backing of the Koch brothers for the deal, stock in Meredith was ahead by even more, adding 10.74% by the end of the session. Shares of Barracuda Networks were also sharply higher by 16.51%, after the company agreed to an all-cash takeover from private equity outfit Thoma Bravo for $1.6bn, for a 22.5% premium. Teva Pharma was also trading on the front foot, rising 7.5% after unveiling a big reorganisation and multiple changes in its top ranks. Dow Jones - Risers Verizon Communications Inc. (VZ) $47.66 1.38%
3M Co. (MMM) $234.00 1.13%
Home Depot Inc. (HD) $174.16 1.06%
Cisco Systems Inc. (CSCO) $36.87 1.04%
Microsoft Corp. (MSFT) $83.87 0.73%
Procter & Gamble Co. (PG) $88.96 0.58%
Nike Inc. (NKE) $59.63 0.52%
Travelers Company Inc. (TRV) $130.57 0.50%
Merck & Co. Inc. (MRK) $54.55 0.37%
Visa Inc. (V) $112.35 0.37% Dow Jones - Fallers Dowdupont Inc. (DWDP) $70.13 -1.45%
Chevron Corp. (CVX) $115.59 -0.79%
Intel Corp. (INTC) $44.49 -0.58%
Apple Inc. (AAPL) $174.09 -0.50%
JP Morgan Chase & Co. (JPM) $97.93 -0.40%
General Electric Co. (GE) $18.12 -0.38%
Exxon Mobil Corp. (XOM) $81.12 -0.38%
Goldman Sachs Group Inc. (GS) $235.11 -0.36%
Caterpillar Inc. (CAT) $137.19 -0.15%
Boeing Co. (BA) $265.56 -0.11% Dow Jones - Risers Verizon Communications Inc. (VZ) $47.66 1.38%
3M Co. (MMM) $234.00 1.13%
Home Depot Inc. (HD) $174.16 1.06%
Cisco Systems Inc. (CSCO) $36.87 1.04%
Microsoft Corp. (MSFT) $83.87 0.73%
Procter & Gamble Co. (PG) $88.96 0.58%
Nike Inc. (NKE) $59.63 0.52%
Travelers Company Inc. (TRV) $130.57 0.50%
Merck & Co. Inc. (MRK) $54.55 0.37%
Visa Inc. (V) $112.35 0.37% Dow Jones - Fallers Dowdupont Inc. (DWDP) $70.13 -1.45%
Chevron Corp. (CVX) $115.59 -0.79%
Intel Corp. (INTC) $44.49 -0.58%
Apple Inc. (AAPL) $174.09 -0.50%
JP Morgan Chase & Co. (JPM) $97.93 -0.40%
General Electric Co. (GE) $18.12 -0.38%
Exxon Mobil Corp. (XOM) $81.12 -0.38%
Goldman Sachs Group Inc. (GS) $235.11 -0.36%
Caterpillar Inc. (CAT) $137.19 -0.15%
Boeing Co. (BA) $265.56 -0.11% Nasdaq 100 - Risers Illumina Inc. (ILMN) $223.84 4.18%
Align Technology Inc. (ALGN) $262.42 3.01%
T-Mobile Us, Inc. (TMUS) $62.78 1.78%
Alphabet Inc. Class A (GOOGL) $1,072.01 1.47%
Intuitive Surgical Inc. (ISRG) $403.70 1.39%
Vertex Pharmaceuticals Inc. (VRTX) $148.55 1.36%
Alphabet Inc. Class C (GOOG) $1,054.21 1.31%
Cisco Systems Inc. (CSCO) $36.87 1.04%
Symantec Corp. (SYMC) $28.84 0.98%
Viacom Inc. Class B (VIAB) $26.54 0.95% Nasdaq 100 - Fallers Western Digital Corp. (WDC) $86.55 -6.71%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $55.50 -3.75%
Micron Technology Inc. (MU) $48.05 -3.28%
NetEase Inc. Ads (NTES) $333.53 -3.10%
Seagate Technology Plc (STX) $39.08 -3.00%
Lam Research Corp. (LRCX) $210.93 -2.72%
Regeneron Pharmaceuticals Inc. (REGN) $374.53 -2.68%
Liberty Global Plc Lilac Class A (LILA) $21.08 -2.63%
Liberty Global plc Series A (LBTYA) $29.92 -2.54% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Tuesday newspaper round-up: ADS 'misled', IAG, Rio Tinto, oil prices The aerospace and defence industry is privately angry at being “misled” by ministers over the industrial strategy and being left without a sector deal to get government support. Paul Everitt, chief executive of ADS, the industry lobby group that represents aerospace, defence and security manufacturers, said that he was seeking urgent talks with ministers about the sector’s omission, despite being one of Britain’s largest investors in research and development. - The Times One of the world's most powerful oil traders has warned that crude prices could fall sharply this week if ministers from Opec, Russia and other countries fail to extend a cut in global production. Ian Taylor, chief executive of Vitol, believes that officials from the Organisation of the Petroleum Exporting Countries, the club of 14 countries that pump one third of the world's oil, and a handful of other exporter nations are likely to maintain an existing production cut for nine months until the end of 2018. - The Times British Airways owner IAG has confirmed it is buying the majority of the Gatwick take-off and landing slots being sold by the administrators for fallen carrier Monarch. IAG, which also owns Iberia and Aer Lingus, said the price it was paying was "commercially confidential", although it is thought to have agreed a multi-million pound deal for the slots with KPMG, which took control of Monarch when it fell into administration in October. - Telegraph Leading shareholders have forced Rio Tinto to backtrack on an offer for Sir Mick Davis to become the FTSE 100 group's next chairman. It is understood that Sir Mick, who built Xstrata into one of the world's largest mining companies, had been given the nod and introduced to the board of Rio Tinto, which mines everything from diamonds to uranium. - The Times The chief executive of Sky has warned that society faces a "tsunami of harms" on the internet in a stinging attack on online giants such as Google and their lack of regulation. Jeremy Darroch said there are "serious questions over the veracity, safety and legality" of online content and called for the European Union to lead the world by introducing new rules that make the internet safer and more responsible. - Guardian The prospect of Jeremy Corbyn becoming prime minister is a more serious threat to British business than Brexit, the investment bank Morgan Stanley has warned. Morgan Stanley told investors that another general election towards the end of 2018 was likely once Theresa May's government realised it could not secure the Brexit deal it wants and the Conservative party began to fall apart, opening the door to Labour taking power. - Guardian The amount of office development started in London in the last six months is at its lowest in three years as builders remain cautious on the state of the property market. Around 1.8m sq ft of offices across 25 buildings was started in the last six months, according to Deloitte's latest Crane Survey, 21pc below the average. - Telegraph House prices in the capital are now 14.5 times the earnings of an average Londoner, according to Hometrack, hitting the highest level on record. This is up from last year's high of 14 times average income, despite house price growth having slumped in London over the last 12 months. This year's level is 42pc higher than the long-term average over the last 15 years. - Telegraph An area of Birmingham named the poorest place in the UK as recently as last year now has the fastest-rising property prices in the country, according to a report. Prices in the B16 postcode of the city, which covers the Ladywood area, rose by 17% in the 12 months to July, far outstripping any part of London, where the property market has cooled rapidly since the EU referendum. - Guardian Furnishing tycoon Charles Wade has suffered his second blow in less than a week as furniture retailer Feather & Black has toppled into administration just five days after Multiyork collapsed. The quick succession of casualties has raised further fears about the health of the furniture retail sector which is suffering as consumers delay buying big-ticket items as household budgets are squeezed by the return of inflation. - Telegraph The UK's cheapest supermarket Christmas dinner will cost 18% more than it did last year, as the impact of inflation and Brexit-related commodity costs makes its way to the festive family table. The annual yuletide food survey by Good Housekeeping magazine found that the cost of the cheapest set-piece meal on Christmas Day ?" for 8 people and including 11 ingredients from turkey to fresh vegetables and cranberry sauce ?" had risen from £19.82 to £23.53, or from £2.48 a head to £2.94. - Guardian One of Britain's largest steel companies has pledged to more than quadruple its steel-making capacity in the UK over the next five years as it continues its break-neck expansion. Liberty House owner GFG Alliance has said it aims to increase its UK steel-making capacity to 5m tonnes a year from the current 1.1m tonnes in a strategy which could create hundreds of jobs. - Telegraph Male employees at easyJet earn over 50pc more than their female colleagues on average, the budget airline revealed on Monday. Of those in the top pay bracket at easyJet, 89pc were male workers. Per hour, the airline's male employees earned 51.7pc more on average than female workers. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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