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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 pound firms on reports of Brexit breakthrough London stocks edged lower in early trade as the pound gained ground on news that a Brexit divorce bill has been agreed. At 0830 GMT, the FTSE 100 was down 0.5% to 7,426.42 as sterling rose 0.6% versus the dollar to 1.3422, having breached 1.3430 earlier - its best level since the end of September. Meanwhile, sterling was up 0.4% against the euro at 1.1314. A stronger pound tends to dent the index, as around 70% of its constituents derive most of their earnings from overseas. According to differing reports, the UK government has agreed to pay a Brexit divorce bill of between €40bn and €65bn (£35bn to £58bn), which is much more the €20bn Prime Minister Theresa May said she was prepared to commit to back in September. James Hughes, chief market analyst at AxiTrader, said: "We have had no confirmation of any of these headlines from the government but expectations are that we will get confirmation in the next 24 hours. This does have the feeling of being a complete give up from the government despite such strong rhetoric previously. "The suggestion was always that the UK would not be held to ransom, but it seems that negotiations could not carry on without a bill formalised. It also shows us that the EU cares not for any UK position or stance over the key sticking points and is very much happy to play hard ball." With Brexit the primary focus, investors largely shrugged off claims by North Korea that it has successfully tested a new type of ballistic missile that is capable of striking anywhere on the US mainland. In corporate news, Cineworld tumbled after confirming it will make a $3.07bn (£2.3bn) offer for US peer Regal Entertainment, the second largest chain stateside. Cineworld said it planned to fund the $23-per-share offer through new debt and by raising funds via a rights issue, which its 28% shareholder Global City Holdings has committed to a full subscription. London Stock Exchange was in the red as it announced that chief executive Xavier Rolet has left the company after weeks of wrangling over the terms of his departure. FirstGroup slipped as it welcomed a new strategic vision for the Great Western rail network from the Department for Transport, with the DfT confirming it would exercise its option to extend First's franchise in the region by one year, to 1 April 2020. IT infrastructure provider Softcat edged lower despite saying it saw a strong start to the year, with demand still strong, and it reiterated its full-year expectations. LondonMetric nudged down after agreeing to buy two logistics warehouses for £47.6m, reflecting a blended net initial yield of 5.0% rising to a minimum of 5.6% after five years. On the upside, Zoopla and PrimeLocation owner ZPG rallied as it posted a jump in full-year revenue and said it has agreed to acquire Netherlands-based automated property valuation and statistical market analysis firm Calcasa for €30m. Stagecoach ticked higher as it welcomed the planned "new direction" for the UK rail network, as announced by the Secretary of State for Transport. The passenger transport operator said the Secretary of State's vision envisaged a number of changes to franchises currently operated by Stagecoach, as well as other routes, as part of plans to deliver improved integration between train and track. Soft drinks maker Britvic fizzed higher as its full-year profit beat expectations and it lifted its full-year dividend per share by 8.2%. Brewin Dolphin rose as its revenue for the year to the end of September was in line with expectations, while adjusted pre-tax profit was slightly ahead at £70m. Tullow Oil gushed a little higher after saying it has secured $2.5bn of debt refinancing, while water utility Pennon was up after it posted a 2.3% increase in half-year pre-tax profit to £131.1m. In broker note action, Spire Healthcare surged after Berenberg upgraded the stock to 'buy', while Equiniti was up after an initiation at 'buy' from Berenberg, but Fidessa was under pressure after an initiation at 'sell' from Stifel. On the data front, net lending, consumer credit and mortgage approvals are at 0930 GMT. |
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| | Market Movers FTSE 100 (UKX) 7,426.42 -0.46%
FTSE 250 (MCX) 20,084.64 0.29%
techMARK (TASX) 3,488.40 -0.24% FTSE 100 - Risers Barclays (BARC) 192.25p 2.62%
Kingfisher (KGF) 330.60p 2.35%
Barratt Developments (BDEV) 607.00p 2.02%
Persimmon (PSN) 2,582.00p 1.65%
Lloyds Banking Group (LLOY) 65.86p 1.59%
Marks & Spencer Group (MKS) 305.20p 1.40%
Berkeley Group Holdings (The) (BKG) 3,757.00p 1.35%
Sainsbury (J) (SBRY) 232.40p 1.26%
ITV (ITV) 156.90p 1.23%
Next (NXT) 4,365.40p 1.19% FTSE 100 - Fallers London Stock Exchange Group (LSE) 3,727.00p -1.92%
Carnival (CCL) 4,920.00p -1.80%
Randgold Resources Ltd. (RRS) 7,235.00p -1.63%
British American Tobacco (BATS) 4,890.00p -1.59%
Imperial Brands (IMB) 3,090.00p -1.50%
Diageo (DGE) 2,613.00p -1.40%
Worldpay Group (WPG) 427.00p -1.29%
Unilever (ULVR) 4,276.00p -1.24%
GlaxoSmithKline (GSK) 1,321.00p -1.16%
National Grid (NG.) 873.90p -1.09% FTSE 250 - Risers Spire Healthcare Group (SPI) 250.20p 6.02%
Britvic (BVIC) 795.00p 4.81%
RPC Group (RPC) 1,004.00p 4.10%
PayPoint (PAY) 935.50p 2.13%
Equiniti Group (EQN) 303.80p 2.12%
ZPG Plc (ZPG) 351.80p 1.97%
Travis Perkins (TPK) 1,555.00p 1.97%
Rank Group (RNK) 244.70p 1.96%
OneSavings Bank (OSB) 399.40p 1.91%
Brewin Dolphin Holdings (BRW) 350.60p 1.89% FTSE 250 - Fallers Cineworld Group (CINE) 611.58p -11.94%
Fidessa Group (FDSA) 2,431.00p -3.34%
Clarkson (CKN) 2,854.00p -2.06%
Pershing Square Holdings Ltd NPV (PSH) 1,008.00p -1.66%
Jupiter European Opportunities Trust (JEO) 718.50p -1.58%
International Public Partnerships Ltd. (INPP) 152.80p -1.42%
Ascential (ASCL) 359.90p -1.29%
Serco Group (SRP) 92.35p -1.07%
Fidelity China Special Situations (FCSS) 241.40p -1.07% |
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| | UK Event Calendar | | Wednesday November 29 INTERIMS
Findel, LondonMetric Property, Motorpoint Group, Pennon Group, Redcentric, RPC Group, Telford Homes, Versarien INTERIM DIVIDEND PAYMENT DATE
Panther Securities INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Crude Oil Inventories (US) (15:30)
Economic Sentiment Indicator (EU) (10:00)
GDP (Preliminary) (US) (13:30)
Industrial Confidence (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Pending Homes Sales (US) (15:00)
Services Confidence (EU) (10:00) FINALS
Brewin Dolphin Holdings, Britvic, Impax Asset Management Group, ZPG Plc AGMS
Bluefield Solar Income Fund Limited, Genedrive , IronRidge Resources Limited (DI), Oilex Ltd., Oncimmune Holdings, Target Healthcare Reit Ltd, Thor Mining TRADING ANNOUNCEMENTS
Eve Sleep PLC, Softcat UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
|
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| | US Market Report | | US close: Financials lead markets into the green Wall Street's main stock market indices finished higher on Tuesday, with traders pushing financials higher as traders listened in on the White House's choice for new Fed chair's testimony before the Senate. The Dow Jones Industrial Average finished ahead 1.09% at 23,836.71, the S&P 500 was up 0.98% at 2,627.04 and the Nasdaq 100 ended the day 0.26% firmer at 6,422.56. In his testimony before the US Senate's banking committee, Jerome Powell said there were not yet signs of overheating in the wage data. Later, he added that some - but not all - labour market indicators were at full-employment. At another moment during the hearings, he also told the committee that he believed bank sector regulations were already tough enough. "'Turnaround Tuesday' has seen the FTSE 100 and European markets move higher once again, while in the US the big three have all scored new record highs," said Chris Beauchamp, chief market analyst at IG. "The second half of November is, once again, proving to be a boon for stocks, while those with an eye on the coming month will note with satisfaction that the average December gain since 1976 for the S&P 500 is around 1.8%." Tuesday's batch of economic data releases was mixed, with the Census Bureau revealing a 6.5% jump in the country's foreign trade on goods to reach $68.3bn, as export growth slipped but demand for imports ramped up. That saw economists at Barclays Research mark down their tracking estimate for third quarter GDP growth from 2.8% to 2.3%. Later on, the Conference Board reported that its consumer confidence gauge climbed from 126.2 points for October to 129.5 in November, ahead of consensus expectations for 123.5. House price data for September on the other hand came in a tad shy of expectations, with the FHFA's house price index notching up a rise of 0.3% month-on-month, shy of consensus expectations for 0.5%. On the corporate side of things, stock in Viking Therapeutics gave back initial gains, losing 6.62% even after disclosing positive results from a mid-stage trial for a hip fracture treatment. Retailers were still in focus on the heels of a report from Adobe Systems pegging online sales on Cyber Monday at $6.59bn, for a 16.8% increase on the year-ago period and the most ever. Adobe's stock finished 0.22% above the waterline. In the oft-forgotten chicken wings sector, Bloomberg reported that private equity outfit Roark Capital had tabled an improved bid for Buffalo Wild Wings worth $2.4bn or $157 a share, which was up from $150 previously. That led Buffalo stock to post a sizzling 6.28% rise by end-of-play. Meanwhile, shares in Rockwell Automation were 3.19% higher even as Emerson withdrew its unsolicited bid. Dow Jones - Risers JP Morgan Chase & Co. (JPM) $101.36 3.50%
Verizon Communications Inc. (VZ) $48.82 2.43%
Cisco Systems Inc. (CSCO) $37.73 2.33%
Travelers Company Inc. (TRV) $133.00 1.94%
American Express Co. (AXP) $95.26 1.94%
Goldman Sachs Group Inc. (GS) $239.41 1.83%
Unitedhealth Group Inc. (UNH) $216.22 1.76%
General Electric Co. (GE) $18.41 1.60%
McDonald's Corp. (MCD) $171.35 1.41%
Johnson & Johnson (JNJ) $140.04 1.39% Dow Jones - Fallers Apple Inc. (AAPL) $173.07 -0.59%
Coca-Cola Co. (KO) $45.84 -0.15%
Nike Inc. (NKE) $59.58 -0.08%
Wal-Mart Stores Inc. (WMT) $96.77 0.16%
International Business Machines Corp. (IBM) $152.47 0.32%
Procter & Gamble Co. (PG) $89.41 0.49%
United Technologies Corp. (UTX) $117.72 0.50%
Intel Corp. (INTC) $44.73 0.54%
Walt Disney Co. (DIS) $103.41 0.60%
Exxon Mobil Corp. (XOM) $81.67 0.69% S&P 500 - Risers Bed Bath & Beyond Inc. (BBBY) $21.98 5.98%
O'Reilly Automotive Inc. (ORLY) $228.47 5.61%
Tractor Supply Company (TSCO) $67.75 4.68%
GameStop Corp. (GME) $19.02 4.68%
Macy's Inc. (M) $22.17 4.53%
Interpublic Group of Companies Inc. (IPG) $19.39 4.36%
Frontier Communications Co. (FTR) $7.93 4.20%
W.W. Grainger Inc. (GWW) $211.57 4.17%
Chipotle Mexican Grill Inc. (CMG) $285.86 4.13%
AutoZone Inc. (AZO) $664.22 4.12% S&P 500 - Fallers Spectra Energy Corp. (SE) $11.44 -9.63%
Boston Scientific Corp. (BSX) $26.39 -7.44%
Tenet Healthcare Corp. (THC) $13.32 -4.04%
Public Storage (PSA) $209.42 -2.56%
Broadcom Limited (AVGO) $277.40 -2.54%
Extra Space Storage (EXR) $85.21 -2.51%
Regeneron Pharmaceuticals Inc. (REGN) $366.00 -2.28%
CBS Corp. (CBS) $54.76 -2.14%
Nvidia Corp. (NVDA) $210.71 -1.60%
AES Corp. (AES) $10.57 -1.58% Nasdaq 100 - Risers O'Reilly Automotive Inc. (ORLY) $228.47 5.61%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $217.07 5.02%
Tractor Supply Company (TSCO) $67.75 4.68%
Walgreens Boots Alliance, Inc. (WBA) $72.24 4.11%
Fastenal Co. (FAST) $50.40 2.96%
Discovery Communications Inc. Class C (DISCK) $16.87 2.93%
CSX Corp. (CSX) $52.13 2.90%
Discovery Communications Inc. Class A (DISCA) $17.97 2.86%
Dollar Tree Inc (DLTR) $100.94 2.79%
Cintas Corp. (CTAS) $152.03 2.75% Nasdaq 100 - Fallers Broadcom Limited (AVGO) $277.40 -2.54%
Regeneron Pharmaceuticals Inc. (REGN) $366.00 -2.28%
T-Mobile Us, Inc. (TMUS) $61.38 -2.23%
Incyte Corp. (INCY) $95.83 -2.07%
Nvidia Corp. (NVDA) $210.71 -1.60%
eBay Inc. (EBAY) $35.50 -1.36%
Baidu Inc. (BIDU) $244.03 -1.21%
Mercadolibre Inc. (MELI) $269.84 -1.02%
Vertex Pharmaceuticals Inc. (VRTX) $147.32 -0.83% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Wednesday newspaper round-up: Cash machines, UK houses, construction sector The UK’s cash machine network has been asked by the head of the Treasury select committee to clarify how many of the country’s 55,000 free-to-use ATMs will close as a result of proposed changes to the way the system operates. The industry lobby group, the ATM Industry Association, has warned the changes put forward by the Link network could lead to parts of the UK becoming ‘ATM deserts’ with at least 10,000 free-to-use cash machines at risk. – Guardian The total value of all the houses in the UK has passed the £6tn mark for the first time, according to research by Halifax which also highlights the vast concentration of property wealth in London and the south-east. The value of homes in London is now more than all the houses in Scotland, Wales and the north of England combined. The research also reveals how property values in the south have escalated since the financial crash of 2007-08, despite incomes remaining relatively flat. ?" Guardian A lack of "vision" from the Government about future combat aircraft in the UK contributed to BAE Systems' decision to axe hundreds of British jobs, MPs have been told. The FTSE 100 defence company announced almost 2,000 redundancies last month, with the bulk of them in its aircraft division. ?" Telegraph The construction sector has come together to warn the Government of the danger to the industry if there is a "cliff edge" for vital EU workers created by Brexit, as it targets building 300,000 homes a year. Official statistics suggest that 12.6pc of construction workers across the UK are foreign-born, of which 5.7pc are from EU-accession countries, such as Romania. That proportion rises to around 50pc in London and the South East. ?" Telegraph The grocery sector was facing a grim start to the Christmas trading season last night after a food and tobacco wholesaler with annual sales of more than £4 billion collapsed into administration with the loss of about 2,500 jobs. Palmer & Harvey, which has been in existence for 92 years and is a key supplier to retailers such as Tesco, called in administrators from PWC after the collapse of talks over a rescue takeover by Carlyle Group, the American private equity firm. ?" The Times The governor of the Bank of England has waded into the boardroom row at the London Stock Exchange by signalling that Xavier Rolet, its chief executive, should go quietly. Mark Carney said that Mr Rolet had "made an extraordinary contribution as head of the LSE over the last nine years", but he added: "I can't envision a circumstance where the CEO stays on beyond the agreed period." ?" The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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