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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 nudge up; RBS drops on branch closures but Indivior surges London stocks nudged higher early on Friday but gains were limited in quiet trade, with RBS in focus after it announced the closure of one in four branches. At 0840 GMT, the FTSE was up 0.1% to 7,331.63, while the pound was down 0.3% against the euro at 1.1327 and 0.1% lower versus the dollar at 1.3516. Investors were mulling news that the US Senate late on Thursday delayed a vote on the Republicans' tax reform bill until Friday due to problems with an amendment to address a large expansion of the federal budget deficit that is expected to result from the measure. On the data front, Markit's manufacturing purchasing managers' index is at 0930 GMT. Spreadex analyst Connor Campbell said: "How the FTSE and pound perform as the day goes on will likely be dependent on the state of November's manufacturing PMI. Analysts are expecting a slight increase, from 56.3 to 56.6 month-on-month; if accurate that'd be the best reading in 3 months, and could help sterling pick up where it left off yesterday." Heavily-weighted mining stocks put in a solid performance as metals prices rose, with Anglo American, BHP Billiton and Antofagasta all higher. Elsewhere, Indivior surged as it received approval from the US drug regulator to market its once-monthly injectable treatment for moderate to severe opioid use disorder, which analysts believe could lift company sales north of $1bn. On the downside, Royal Bank of Scotland was in the red after saying it will close 259 branches and cut 680 jobs as customers shift to online banking. Barclays was weaker as it sold a 7.0% stake in Barclays Africa Group Limited to bring down its total shareholding to 14.9%. Countryside Properties was on the back foot as Oaktree upped the size of its accelerated bookbuild in the stock due to strong investor demand, selling 67.5m shares at 340p each, representing a 15% stake. In broker note action, Babcock International was under the cosh after Morgan Stanley downgraded the stock to 'equalweight' from 'overweight' and slashed the price target to 800p from 975p. Pendragon was lower as JPMorgan initiated coverage of the stock at 'underweight', while Vesuvius was hit by an initiation at 'underweight' by Barclays. Ashmore was higher after an initiation at 'buy' at Canaccord. |
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| | Market Movers FTSE 100 (UKX) 7,331.63 0.07%
FTSE 250 (MCX) 19,956.78 0.02%
techMARK (TASX) 3,432.80 -0.05% FTSE 100 - Risers Anglo American (AAL) 1,392.00p 2.43%
GlaxoSmithKline (GSK) 1,293.50p 1.09%
BHP Billiton (BLT) 1,358.00p 0.97%
Antofagasta (ANTO) 917.50p 0.88%
Royal Dutch Shell 'B' (RDSB) 2,409.00p 0.86%
Shire Plc (SHP) 3,692.50p 0.85%
Royal Dutch Shell 'A' (RDSA) 2,377.00p 0.83%
Glencore (GLEN) 342.30p 0.80%
Convatec Group (CTEC) 195.50p 0.77%
Rio Tinto (RIO) 3,528.50p 0.77% FTSE 100 - Fallers Babcock International Group (BAB) 677.50p -2.80%
Kingfisher (KGF) 329.30p -1.41%
Next (NXT) 4,416.00p -1.36%
Barclays (BARC) 190.90p -1.34%
Marks & Spencer Group (MKS) 309.10p -1.31%
BT Group (BT.A) 257.45p -1.28%
Mediclinic International (MDC) 559.00p -1.15%
3i Group (III) 891.50p -1.05%
Royal Bank of Scotland Group (RBS) 273.90p -0.98%
G4S (GFS) 254.10p -0.97% FTSE 250 - Risers Indivior (INDV) 412.30p 11.19%
P2P Global Investments (P2P) 809.50p 2.73%
Inmarsat (ISAT) 495.00p 2.51%
PayPoint (PAY) 942.04p 2.40%
Fidessa Group (FDSA) 2,507.00p 2.04%
CYBG (CYBG) 319.20p 1.72%
Saga (SAGA) 185.70p 1.64%
SIG (SHI) 172.50p 1.59%
Polypipe Group (PLP) 374.70p 1.46%
Evraz (EVR) 290.30p 1.40% FTSE 250 - Fallers Countryside Properties (CSP) 346.00p -5.08%
Royal Mail (RMG) 422.15p -4.47%
Rank Group (RNK) 238.20p -3.29%
Travis Perkins (TPK) 1,578.00p -1.93%
Vesuvius (VSVS) 550.50p -1.78%
Stagecoach Group (SGC) 178.30p -1.49%
Elementis (ELM) 268.40p -1.47%
TalkTalk Telecom Group (TALK) 151.00p -1.37%
Restaurant Group (RTN) 282.80p -1.36% |
| | 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. |
| | UK Event Calendar | | Friday December 01 INTERIM DIVIDEND PAYMENT DATE
Action Hotels, Anpario, Balfour Beatty, Hargreave Hale AIM VCT 2, Hilton Food Group, Laird, Mission Marketing Group, Scottish Mortgage Inv Trust INTERIM EX-DIVIDEND DATE
First Property Group QUARTERLY PAYMENT DATE
Chenavari Toro Income Fund Limited NPV, JPMorgan Claverhouse Inv Trust INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Manufacturing (GER) (08:55)
PMI Manufacturing (EU) (09:00)
PMI Manufacturing (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55) Q3
PJSC Megafon GDR (Reg S) SPECIAL DIVIDEND PAYMENT DATE
Electra Private Equity AGMS
Aberdeen Asian Smaller Companies Investment Trust, DFS Furniture, Green Reit, Haydale Graphene Industries, James Halstead, Purecircle Limited (DI), Ruffer Investment Company Ltd Red PTG Pref Shares, Starvest UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30) FINAL DIVIDEND PAYMENT DATE
Ashmore Group, Clinigen Group, Ferguson, Genesis Emerging Markets Fund Ltd Ptg NPV, Genus, James Halstead, JPMorgan Emerging Markets Inv Trust, Kier Group, Mcbride, Urals Energy Public Co Ltd. (DI) |
| | Cryptocurrencies Report | | Top Cryptocurrencies | # | Name | Market Cap($) | Price(%) | Change | Price Graph(3m) | | 1 |  | Bitcoin (BTC) | 167,227,736,954 | 9,904.02 | +0.05% |  | | 2 |  | Ethereum (ETH) | 41,967,902,521 | 438.05 | -0.48% |  | | 3 |  | Bitcoin Cash / BCC (BCH) | 22,409,505,242 | 1,344.78 | -0.64% |  | | 4 |  | Ripple (XRP) | 9,418,843,539 | 0.236723 | -1.11% |  | | 5 |  | DigitalCash (DASH) | 6,006,197,672 | 728.33 | -3.31% |  | See our full list of cryptocurrencies |
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| | US Market Report | | US close: Wall Street continues to ride tax reform optimism Wall Street continued to push higher on Thursday, amid greater optimism over the likelihood of US tax reforms and the potential impact they might have on stocks. The Dow Jones Industrial Average finished up 1.39% at 24,272.35 and the S&P 500 added 0.82% to 2,647.58, with the Nasdaq 100 ending the session 0.86% firmer at 6,365.56. Investors spent much of the day waiting for a final vote on the Republicans' tax bill, which could take place later on Thursday evening. "The Senate is on track to pass its version of tax reform later today or Friday," noted economists at Oxford Economics. "The next step would be to reconcile differences with the House version passed earlier this month. "Tax reform has gained momentum and we think the odds that legislation will pass before year end have increased to 60-70%." The Oxford Economics team did not one possible wrinkle being that at least one key Republican vote could hinge on the passage of legislation to shore up the Affordable Care Act. On the energy front, Brent crude oil futures were 0.72% higher at $63.57 a barrel as OPEC members agreed on maintaining their current reduced output until the end of 2018. "Wednesday's tech selloff is doing little to weigh on risk appetite ahead of the open on Thursday, with futures on all three major indices around a third of a percentage point higher, tracking broad gains in Europe," noted Oanda analyst Craig Erlam on the day's earlier movements. "With US indices trading around record highs it seems investors are currently willing to shrug off Wednesday's declines some of the biggest tech names, putting it down to profit taking rather than a sign of any underlying concerns given the already extended levels. "With plenty of economic data to come today including income, spending and inflation - the Fed's preferred measure - as well as appearances from Federal Reserve officials, this positive risk appetite may well be put to the test at times." In corporate news, Juniper Networks was sharply lower, falling 5.93% after Finnish network equipment maker Nokia said it was not in talks about buying its California-based rival. Elsewhere, Sears Holdings shares were in focus, falling 3.09% after the ailing department store chain reported a narrowing of fiscal third-quarter losses. Dow Jones - Risers Goldman Sachs Group Inc. (GS) $247.64 3.44%
Boeing Co. (BA) $276.80 3.29%
United Technologies Corp. (UTX) $121.45 2.80%
American Express Co. (AXP) $97.71 2.55%
Visa Inc. (V) $112.59 2.49%
Unitedhealth Group Inc. (UNH) $228.15 2.35%
Chevron Corp. (CVX) $118.99 2.18%
3M Co. (MMM) $243.11 2.16%
Intel Corp. (INTC) $44.84 2.03%
Verizon Communications Inc. (VZ) $50.89 1.98% Dow Jones - Fallers General Electric Co. (GE) $18.29 -0.65%
Cisco Systems Inc. (CSCO) $37.30 -0.48%
Wal-Mart Stores Inc. (WMT) $97.25 -0.34%
Johnson & Johnson (JNJ) $139.31 -0.34%
Merck & Co. Inc. (MRK) $55.27 -0.16%
Nike Inc. (NKE) $60.42 0.10%
Pfizer Inc. (PFE) $36.26 0.14%
Coca-Cola Co. (KO) $45.77 0.62%
Procter & Gamble Co. (PG) $89.99 0.68%
JP Morgan Chase & Co. (JPM) $104.52 0.76% S&P 500 - Risers Advance Auto Parts (AAP) $101.02 8.82%
Humana Inc. (HUM) $260.86 6.81%
L Brands Inc (LB) $56.07 6.76%
CenturyLink Inc. (CTL) $14.59 6.57%
Chipotle Mexican Grill Inc. (CMG) $304.39 6.48%
Kroger Co. (KR) $25.86 6.07%
Alliance Data Systems Corp. (ADS) $239.24 6.05%
FedEx Corp. (FDX) $231.46 5.93%
Hanesbrands Inc. (HBI) $20.89 5.77%
Hess Corp. (HES) $45.88 5.76% S&P 500 - Fallers Juniper Networks Inc. (JNPR) $27.76 -6.25%
Alcoa Corporation (AA) $41.50 -4.13%
American Tower Corp (Reit) (AMT) $143.96 -3.17%
Micron Technology Inc. (MU) $42.39 -3.09%
Urban Outfitters Inc. (URBN) $31.12 -3.02%
Bed Bath & Beyond Inc. (BBBY) $22.39 -2.91%
Target Corp. (TGT) $59.90 -2.87%
Western Digital Corp. (WDC) $78.86 -2.64%
Under Armour Inc. Class A (UAA) $13.28 -2.35%
Celgene Corp. (CELG) $100.83 -2.22% Nasdaq 100 - Risers Costco Wholesale Corp. (COST) $184.43 3.89%
Express Scripts Holding Co (ESRX) $65.18 3.69%
Paypal Holdings Inc (PYPL) $75.73 3.39%
Incyte Corp. (INCY) $98.99 3.16%
Biomarin Pharmaceutical Inc. (BMRN) $85.80 3.04%
Mercadolibre Inc. (MELI) $275.14 2.78%
Adobe Systems Inc. (ADBE) $181.47 2.61%
American Airlines Group (AAL) $50.49 2.52%
Cintas Corp. (CTAS) $157.44 2.41%
CSX Corp. (CSX) $55.75 2.41% Nasdaq 100 - Fallers Liberty Global Plc Lilac Class A (LILA) $20.80 -4.24%
Liberty Global Plc Lilac Class C (LILAK) $20.75 -3.35%
Micron Technology Inc. (MU) $42.39 -3.09%
Western Digital Corp. (WDC) $78.86 -2.64%
Celgene Corp. (CELG) $100.83 -2.22%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $54.16 -2.04%
Dentsply International Inc. (XRAY) $67.01 -1.97%
Charter Communications Inc. (CHTR) $326.21 -1.65%
Tractor Supply Company (TSCO) $68.24 -1.61% |
| | 
Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Newspaper Round Up | | Friday newspaper round-up: Productivity, Opec, Stagecoach, IAG, RBS Raising productivity is a far bigger economic challenge for Britain than Brexit, senior officials at the Office for Budget Responsibility said yesterday as they hit back at allegations of bias. Leave supporting politicians have accused the office of producing excessively gloomy forecasts that cast Brexit in a bad light but Robert Chote, chairman of the government’s fiscal watchdog, said the claims were “without any foundation whatsoever”. - The Times The world's major oil producers have extended production cuts through to the end of 2018, in a bid to tackle a global glut of crude and keep prices buoyant. Members of Opec, the oil cartel, and other major producers including Russia agreed that the curbs, which started in January and have lifted a barrel of Brent crude from $40 to $50 last year to more than $60 now, will continue for a further nine-months. - Guardian Britain cannot afford to borrow more without jeopardising the country's financial stability, a senior Bank of England official has warned. Richard Sharp said the Government had already borrowed an extra £1 trillion since the 2008 financial crisis. - Telegraph Labour has accused the transport secretary of misleading parliament over the early termination of the East Coast rail franchise as it emerged that the operator, Stagecoach, had been due to pay the Treasury more than £2bn in the final four years of its contract. A new rail strategy announced by Chris Grayling on Wednesday contained plans to replace the Virgin Trains East Coast (Vtec) contract running to September 2023 with a model of a partnership between track and train operators from 2020. - Guardian The London Stock Exchange has been forced to set out the rationale for the departure of chief executive, Xavier Rolet, citing his "operating style" and questions from shareholders about how long he intended to stay. The exchange provided the explanation in a 20-page circular setting the date for the shareholders' meeting demanded by an activist investor which wants to oust the company's chairmanover his handling of Rolet's departure. - Guardian British Airways owner IAG is reportedly considering once again bidding for Austrian airline Niki, as Lufthansa faces pushback from competition authorities over its purchase. Lufthansa signed a €210m (£184m) deal to buy half of the assets of collapsed carrier Air Berlin in October, which included the Niki and LG Walter businesses, together with around 20 planes. - Telegraph The Serious Fraud Office has charged a pair of oil executives at services group SBM Offshore with fraud as its probe into the Unaoil corruption scandal rolls on. The SFO's latest charges are against Paul Bond and Stephen Whiteley for conspiracy to make corrupt payments to the controversial Monaco-based "middleman" to secure engineering contracts. - Telegraph Royal Bank of Scotland has closed its "bad bank" which was set up to handle toxic loans after the financial crisis. It marks another milestone for RBS, which has made profits in its past three quarters and is gearing up for the government to sell more of its shares. - The Times Lloyds has made a breakthrough in its efforts to deal with the aftermath of one of Britain's biggest financial frauds, agreeing a settlement with the couple who played a critical role in uncovering the scam. The bank said its long-running dispute with Paul and Nikki Turner, who were among scores of small business owners who lost their livelihoods to a group of corrupt bankers and consultants, had been fully resolved and that it was sorry for the significant personal distress that the couple had suffered. - The Times Nightclub owner Deltic has reignited its advance on rival Revolution Bars after its merger attempt was spurned earlier this year. Deltic, which owns 57 clubs under brands including PRYZM and Fiction, was knocked back last month by Revolution's board, which at the time was trying to see through a £100m approach by Slug & Lettuce owner Stonegate. - Telegraph Labour leader Jeremey Corbyn said Morgan Stanley was right to regard him as a threat, accusing the US bank of being part of the same "speculators and gamblers who crashed our economy in 2008". In a video posted on social media, he also promised a new approach to financial services regulation. "Nurses, teachers, shopworkers, builders, just about everyone is finding it harder to get by, while Morgan Stanley's CEO paid himself £21.5m last year and UK banks paid out £15bn in bonuses," Corbyn said. - Guardian G20 nations have thrashed out a deal to tackle massive over-capacity in the global steel industry that was the root cause of the crisis in the UK sector two years ago, costing thousands of British jobs. Ministers from the world's leading nations have agreed a deal aimed at removing excess steel production capacity. - Telegraph The British Business Bank has stepped in to support a new technology fund after the EU's investment agency denied it cash in the wake of last year's Brexit vote. Episode 1 Ventures, an early-stage tech investor set up by Simon Murdoch, the entrepreneur who launched Amazon in the UK, has raised £60m to launch its new fund. - Telegraph A third of new cars will run on either plug-in hybrid power or pure electric batteries within five years, according to industry research. With these vehicles currently making up just 5 per cent of new sales, it suggests an acceleration in hybrid and electric vehicles amounting to annual growth of more than 40 per cent. - The Times The Adani Group is likely to again have to answer allegations it siphoned more than US$600m (£445m) into overseas tax havens after senior Indian finance authorities recommended an appeal of a judgment clearing the mining giant. The Indian finance secretary has confirmed to local media the August decision clearing the Adani Group had been reviewed by senior officials in November who ordered an appeal to be lodged by 14 December. - Guardian US diplomats have dropped plans for Donald Trump to conduct a visit to Britain in January amid a war of words between the two countries' leaders. Mr Trump, the US president, had been penciled in for a 'working visit' in the first month of 2018 to formally open America's new London embassy. - Telegraph The main lender to Four Seasons Health Care has urged the troubled care homes operator to agree to a debt standstill before an interest payment deadline threatens to push it into administration. H/2 Capital Partners, the dominant owner of Four Seasons's £525m bonds, said it had offered a deferral on a £26m bill due on December 15. It urged immediate action to take the pressure off stalled restructuring discussions. - Telegraph The boss of Fortnum & Mason says the world famous London store is struggling to recruit staff after the Brexit vote with the situation most acute in its restaurants. Fortnum's chief executive, Ewan Venters, said one in five of the chef posts across its six restaurants were unfilled as the fall in sterling's value and concerns about anti-migrant attitudes deterred applicants. - Guardian | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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