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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 rally as investors cheer passing of US tax reform bill London stocks racked up strong gains in early trade on Monday, with sentiment underpinned by the passing of the US tax reform bill. At 0840 GMT, the FTSE 100 was up 0.8% to 7,359.48, while the pound was down 0.2% against the dollar at 1.3450 and flat versus the euro at 1.1331. The US Senate voted 51 to 49 to pass a bill that will implement a slew of changes to the US tax code which will include a big cut in corporation tax from 35% to 20%. Accendo Markets analyst Henry Croft said: "While the Senate bill will have to be aligned with the lower house's equivalent bill, this marks a key legislative victory for President Trump who has seen his efforts to repeal and replace Obamacare fail while struggling to maintain a ban on the entry of some foreign nationals. "The passage of the bill has seen the US dollar rally against both pound sterling and the euro, a trend that will aid the plethora of foreign earning stocks on the FTSE 100." Brexit was also in focus as Prime Minister Theresa May made her way to Brussels for more talks. On the corporate front, US-exposed building materials group CRH and equipment rental firm Ashtead were the standout gainers on the FTSE 100 on the back of the passing of the US Senate tax bill. Broadcaster Sky was a high riser amid news that 21st Century Fox has restarted talks over a possible sale to Walt Disney. Rio Tinto was on the front foot as it appointed non-executive director Simon Thompson as chairman with effect from 5 March 2018, succeeding Jan du Plessis. Bus and coach operator National Express rose after saying it has enjoyed a good trading performance across all divisions in the autumn and completed two overseas acquisitions. Budget airline Ryanair flew higher after reporting a 6% jump in traffic for last month as the load factor edged higher. Business information and events group Euromoney Institutional Investor fell after it acquired Seven Site Media, trading as TowerXchange, in a transaction of undisclosed value. In broker note action, Premier Oil gushed higher after it was lifted to 'buy' from 'hold' at Canaccord Genuity, but consumer goods giant Reckitt Benckiser was weaker after being cut to 'add' from 'buy' at AlphaValue. On the macroeconomic calendar, the UK construction purchasing managers' index for November is at 0930 GMT. It is expected to have risen from 50.8 to 51.2. |
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| | Market Movers FTSE 100 (UKX) 7,359.48 0.81%
FTSE 250 (MCX) 19,956.15 0.51%
techMARK (TASX) 3,440.73 0.65% FTSE 100 - Risers Ashtead Group (AHT) 1,958.00p 2.84%
CRH (CRH) 2,611.00p 2.51%
Sky (SKY) 953.00p 2.47%
BHP Billiton (BLT) 1,380.00p 2.45%
Carnival (CCL) 4,864.00p 2.10%
Barclays (BARC) 193.35p 2.09%
Ferguson (FERG) 5,465.00p 2.05%
Rolls-Royce Holdings (RR.) 854.00p 1.91%
Worldpay Group (WPG) 431.80p 1.89%
Anglo American (AAL) 1,410.00p 1.88% FTSE 100 - Fallers Fresnillo (FRES) 1,288.00p -1.53%
Kingfisher (KGF) 326.20p -0.85%
Randgold Resources Ltd. (RRS) 6,835.00p -0.73%
Next (NXT) 4,402.00p -0.68%
Marks & Spencer Group (MKS) 307.90p -0.48%
Reckitt Benckiser Group (RB.) 6,349.00p -0.45%
United Utilities Group (UU.) 805.00p -0.19%
National Grid (NG.) 884.05p -0.11%
Tesco (TSCO) 195.30p -0.10%
Land Securities Group (LAND) 919.74p -0.03% FTSE 250 - Risers UBM (UBM) 764.00p 3.17%
Grafton Group Units (GFTU) 766.50p 3.16%
Card Factory (CARD) 281.39p 2.92%
IMI (IMI) 1,276.00p 2.90%
PayPoint (PAY) 937.50p 2.63%
Daejan Holdings (DJAN) 5,885.00p 2.35%
Diploma (DPLM) 1,154.50p 1.99%
Weir Group (WEIR) 1,999.00p 1.89%
Caledonia Investments (CLDN) 2,738.70p 1.81%
Melrose Industries (MRO) 202.75p 1.73% FTSE 250 - Fallers Ultra Electronics Holdings (ULE) 1,263.00p -2.85%
Ocado Group (OCDO) 355.30p -2.26%
JD Sports Fashion (JD.) 322.00p -2.22%
Drax Group (DRX) 263.30p -2.16%
Inmarsat (ISAT) 500.07p -1.37%
Dechra Pharmaceuticals (DPH) 2,125.00p -1.02%
Workspace Group (WKP) 919.50p -0.92%
Hochschild Mining (HOC) 230.00p -0.86%
RDI Reit (RDI) 35.10p -0.79% |
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| | UK Event Calendar | | Monday December 04 INTERIMS
Rhythmone INTERIM DIVIDEND PAYMENT DATE
International Consolidated Airlines Group SA (CDI) INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Producer Price Index (EU) (10:00) Q4
McColl's Retail Group GMS
Assura FINALS
Character Group, MXC Capital SPECIAL DIVIDEND PAYMENT DATE
Manchester & London Investment Trust EGMS
PJSC Lukoil ADR AGMS
IG Seismic Services GDR (Reg S), Jubilee Platinum, Mysale Group, Taptica International (DI), UK Mortgages Limited TRADING ANNOUNCEMENTS
McColl's Retail Group UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30) FINAL DIVIDEND PAYMENT DATE
Manchester & London Investment Trust, NWF Group
|
| | Cryptocurrencies Report | | Top Cryptocurrencies | # | Name | Market Cap($) | Price(%) | Change | Price Graph(3m) | | 1 |  | Bitcoin (BTC) | 194,481,944,379 | 11,257.85 | +0.48%
|  | | 2 |  | Ethereum (ETH) | 45,592,097,751 | 460.93 | -0.51% |  | | 3 |  | Bitcoin Cash / BCC (BCH) | 26,535,319,770 | 1,512.45 | -0.17% |  | | 4 |  | Ripple (XRP) | 9,842,188,821 | 0.245649 | -0.49% |  | | 5 |  | IOTA (IOT) | 6,868,525,078 | 2.26 | +22.78% |  | See our full list of cryptocurrencies |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks climb as May flies to Brussels for Brexit talks European stock markets were lifted on Monday morning ahead of the restart of key Brexit talks, as the single currency and sterling both sank against the dollar after the US Senate passed the Republican tax bill. By 0835 GMT, the Stoxx 600 benchmark was up 2.3 points or 0.6% to 386.27, with Germany's DAX leaping 132 points higher at 13,003.43 and France's CAC 40 adding 33.7 points to reach 5,350.59. Exporters were on the front foot as the euro dropped 0.2% against the dollar to 1.1870, continuing to retreat from its recent two month high. The greenback was boosted after the 51-49 Senate vote that pave the way for the first major overhaul of the US tax system since the Reagan administration. While the bill will still have to be aligned with the lower house's equivalent bill, this marks a key legislative victory for President Donald Trump, said analyst Henry Croft at Accendo Markets. "The passage of the bill has seen the US dollar rally against both pound sterling and the euro, a trend that will aid the plethora of foreign earning stocks on the FTSE 100. This is largely offsetting a crude oil sell-off as both Brent and US crude retreat from Friday's post-OPEC/non-OPEC production cut extension, and follows a predominantly higher Asian session overnight after recovering from an early tech sector sell-off." In focus later in the day will be Brexit talks taking place in Brussels as Prime Minister Theresa May sits down for a lunch with European Commission President Jean-Claude Juncker where she hope to strike a deal to allow divorce negotiations to progress to the next phase on 14 December. "However, while a preliminary deal has been struck on the divorce bill the UK will pay the EU to leave, removing one of the key hurdles to the progression of talks, the PM still needs to offer assurances on the Northern Irish border and rights for EU citizens in UK, attempting to sidestep the rule of the European Court of Justice," Croft said. "Should Juncker judge that not enough progress has been made on these key areas, he may choose to stop talks progressing to the second phase. On the other hand, if May can show that the UK is ready and willing to make constructive moves on the aforementioned areas, then talks about a key trade deal ?" the UK's primary area of concern ?" can begin." Germany CommerzBank and Deutsche Bank were among the risers on Monday, despite the former's London subsidiary getting a telling off by the Financial Conduct Authority for not vetting its customers thoroughly enough. German paper Handelsblatt reported that CommerzBank has stopped conducting further business with clients whose vetting had been criticized by after the FCA said its financial crime controls were insufficient. France's Casino Guichard-Perrachon, which last week signed a key deal with the UK's Ocado, was up 0.5% as it announced the extension of its partnership with Spain's Distribuidora Internacional de Alimentacion to form a new joint venture that will manage orders, payment and the supply of private-label products for both Casino and DIA, as well as generating potential value chain innovations. Shares in Dialog Semiconduictor were in the red again after the German-listed, UK-based chip maker said it recognised that Apple, its largest client by far, could potentially design its own power management integrated circuits "in the next few years". |
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: Stocks shrug off political drama, focus on tax reforms Stocks ended only slightly lower on Friday, brushing off news that ex-US National Security adviser, Michael Flynn, was set to testify against his old boss, President Trump. Instead, equity investors chose to focus on the likely passage of the Senate's tax reform proposals later that evening. At the closing bell, the Dow Jones Industrial Average was 0.17% or 40.76 points lower at 24,231.59, while the S&P 500 was off by 0.20% or 5.36 points to 2,642.22 and the Nasdaq Composite by 0.38% or 26.39 points to 6,847.59. On Friday afternoon, ABC reported that Flynn would testify against his old boss, after pleading guilty of lying to the FBI, setting off an avalanche of selling in stocks. More specifically, the broadcaster erroneously reported that Flynn would testify that Trump had directed him to contact Russian officials during the election campaign. However, it would later turn out that Trump had only allegedly instructed Flynn to do so after the elections, during the transition period between both administrations. Be that as it may, the yield on the benchmark 10-year US Treasury note still finished five basis points lower at 2.36%. By sectors, the weakest areas of the stock market were: Electronic Office Equipment (-3.60%), Coal (-3.8%) and Defence (-2.0%). The day before, optimism over the Senate passing a bill to overhaul the US tax code helped to propel the Dow to a close above 24,000 for the first time, while the S&P 500 also ended at an all-time high. Economic data at the end of the week was supportive as well, with the ISM's manufacturing sector purchasing managers' index slipping from a reading of 58.7 in October to 58.2 for November (consensus: 58.3). Nevertheless, the PMI continued to point to very solid levels of factory activity, analysts said. US construction sector spending was even stronger, rising by 1.4% month-on-month in October (consensus: 0.5%). Dow Jones - Risers Merck & Co. Inc. (MRK) $55.87 1.09%
Cisco Systems Inc. (CSCO) $37.60 0.80%
Verizon Communications Inc. (VZ) $51.24 0.71%
Goldman Sachs Group Inc. (GS) $248.95 0.53%
McDonald's Corp. (MCD) $172.85 0.52%
International Business Machines Corp. (IBM) $154.72 0.51%
Travelers Company Inc. (TRV) $136.19 0.47%
Johnson & Johnson (JNJ) $139.98 0.47%
Chevron Corp. (CVX) $119.51 0.44%
Coca-Cola Co. (KO) $45.97 0.44% Dow Jones - Fallers General Electric Co. (GE) $17.88 -2.24%
Boeing Co. (BA) $271.38 -1.96%
Visa Inc. (V) $110.73 -1.65%
Dowdupont Inc. (DWDP) $71.01 -1.32%
United Technologies Corp. (UTX) $120.11 -1.10%
Nike Inc. (NKE) $59.88 -0.89%
3M Co. (MMM) $241.14 -0.82%
Unitedhealth Group Inc. (UNH) $226.78 -0.61%
Apple Inc. (AAPL) $171.05 -0.47%
Intel Corp. (INTC) $44.68 -0.36% Nasdaq 100 - Risers Mylan Inc. (MYL) $38.12 4.35%
Liberty Global Plc Lilac Class A (LILA) $21.51 3.41%
Regeneron Pharmaceuticals Inc. (REGN) $373.47 3.21%
Charter Communications Inc. (CHTR) $336.27 3.08%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $57.22 2.53%
Comcast Corp. (CMCSA) $38.43 2.37%
Discovery Communications Inc. Class A (DISCA) $19.46 2.31%
Liberty Global Plc Lilac Class C (LILAK) $21.17 2.02%
Discovery Communications Inc. Class C (DISCK) $18.40 1.77%
KLA-Tencor Corp. (KLAC) $103.87 1.59% Nasdaq 100 - Fallers Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $212.58 -4.12%
American Airlines Group (AAL) $49.00 -2.95%
Align Technology Inc. (ALGN) $254.07 -2.61%
Vertex Pharmaceuticals Inc. (VRTX) $140.79 -2.43%
Autodesk Inc. (ADSK) $107.06 -2.41%
Skyworks Solutions Inc. (SWKS) $102.23 -2.40%
Lam Research Corp. (LRCX) $187.81 -2.35%
Broadcom Limited (AVGO) $271.56 -2.30%
Hologic Inc. (HOLX) $40.85 -2.09%
Illumina Inc. (ILMN) $225.24 -2.08% S&P 500 - Risers Spectra Energy Corp. (SE) $12.43 7.16%
Transocean Ltd. (RIG) $10.84 6.80%
Apache Corp. (APA) $44.22 5.71%
Murphy Oil Corp. (MUR) $29.24 4.58%
Mylan Inc. (MYL) $38.12 4.35%
Diamond Offshore Drilling Inc. (DO) $16.68 3.99%
Hewlett Packard Enterprise (HPE) $14.44 3.51%
Regeneron Pharmaceuticals Inc. (REGN) $373.47 3.21%
Navient Corporation (NAVI) $13.01 3.17%
Newfield Exploration Co (NFX) $31.89 3.07% S&P 500 - Fallers Mattel Inc. (MAT) $17.26 -5.42%
Tenet Healthcare Corp. (THC) $13.50 -4.26%
Pitney Bowes Inc. (PBI) $10.28 -3.66%
Vulcan Materials Co. (VMC) $121.19 -3.53%
Patterson Companies Inc. (PDCO) $35.41 -3.12%
Qorvo, Inc. (QRVO) $74.21 -3.09%
American Airlines Group (AAL) $49.00 -2.95%
First Solar Inc. (FSLR) $60.30 -2.90%
Martin Marietta Mtrl (MLM) $202.66 -2.75% |
| | Newspaper Round Up | | Monday newspaper round-up: BIS warning, Bitcoin, BT, AstraZeneca, Fox Investors are ignoring warning signs that financial markets could be overheating and consumer debts are rising to unsustainable levels, the global body for central banks has warned in its quarterly financial health check. The Bank for International Settlements (BIS) said the situation in the global economy was similar to the pre-2008 crash era when investors, seeking high returns, borrowed heavily to invest in risky assets, despite moves by central banks to tighten access to credit. - The Guardian A senior Brussels official said last night that Britain and the European Union were "90 per cent" of the way to a deal that would open the door for transition and trade talks on Brexit this month. Theresa May will fly to Brussels this morning for meetings that have been described as the "absolute deadline" for finding agreement. - The Times Theresa May and the Irish government have failed to reach a deal on the crucial Brexit issue of the Northern Ireland border ahead of a crunch meeting on Monday lunchtime with the European commission president, Jean-Claude Juncker. Despite intense efforts over the weekend to agree a proposal on how to avoid a hard border in Ireland, Irish officials revealed at midnight on Sunday that "there is still a way to go" to achieve a meeting of minds on the issue. - Guardian Tony Blair said on Sunday he was trying to reverse Brexit because claims by the leave campaign, such as the National Health Service getting an extra £350 million a week once Britain leaves the EU, have been proved false. The former prime minister told the BBC that the government aims in the Brexit negotiations will fail because it wants to leave the single market, but retain all of the benefits, and voters can change their minds. - Telegraph Ministers are launching a crackdown on the virtual currency Bitcoin amid growing concern it is being used to launder money and dodge tax. The Treasury has disclosed plans to regulate the Bitcoin that will force traders in so-called crypto-currencies to disclose their identities and report suspicious activity. - Telegraph One of Britain's biggest drug companies has warned it could be hit with an extra $35.5 million a year in annual duties and face significant disruption if the UK does not withdraw in an orderly manner from the European Union. Astrazeneca said that if the UK had to trade with the EU under World Trade Organisation rules it would be forced to pay $30.5 million a year in extra duties, mostly to Asian and Mediterranean countries, and an extra $5 million duty on UK imports of pharmaceutical ingredients. BT faces mounting pressure from regulators, rivals and its telecoms provider customers to cut the price of ultra-fast broadband services proposed by its network subsidiary Openreach. Sharon White, the chief executive of Ofcom, criticised Openreach's plan to add £7 per month to the wholesale cost of broadband to pay for new upgrades. - Telegraph 21st Century Fox is back in discussions with Walt Disney to offload a significant part of its business only weeks after talks broke down amid a disagreement on price. It is understood talks have resumed as Disney remains keen to buy 21st Century Fox's film, television production, cable network and international assets, including its 39 per cent stake in Sky, the UK satellite broadcaster. - The Times Amazon has tightened its grip on the UK retail market by taking more than five times as much new warehousing space this year as the next fastest growing rival. The online retailer has expanded its UK distribution network by four million sq ft in 2017 ?" a space almost as big as the Vatican City ?" according to research from property agency Savills. The next biggest retailer, Lidl, took 754,000 sq ft. - Telegraph The public should be told whether the big banks are refusing to support a free-to-use cash machine network, according to the politician who led the campaign a decade ago to maintain access to ATMs around the UK. Proposals to change the way the Link network operates have prompted fears that up to 10,000 of the 55,000 free-to-use ATMs could either close or start charging. - Guardian America's biggest banks have moved a step closer to saving billions of dollars in taxes each year as President Trump edges towards his first big legislative victory. Senate leaders are today expected to begin merging their plans for a sweeping overhaul of corporate and personal taxation with an alternative set of proposals passed by the House of Representatives. The president tweeted that he was "looking forward to signing a final bill before Christmas" after Republican senators approved a package of measures in the early hours of Saturday morning. - The Times New tariff rules on imports from China that could make it harder to discourage dumping of goods are set to be introduced by the European Union on Monday. An updated system to calculate levies on imported goods being sold at below cost prices is expected to be rubber stamped by the EU. - Telegraph The chief executive of Chapel Down, an official wine supplier to 10 Downing Street, has said Britons will "starve" if the door is closed to foreign fruit pickers after Brexit. England's biggest winemaker, based in Kent, relies on EU workers to pick grapes for its drinks, which also include beer, cider and gin. - The Guardian Ministers are considering lowering the age for auto-enrolment to nudge hundreds of thousands of 18 to 21-year-olds into saving for a pension. Experts say a reduction in the qualifying age from 22 is one of the most likely proposals to come from a review on auto-enrolment expected from the Department for Work and Pensions in the next few weeks. - The Times A newspaper industry logo has been launched to reassure readers that they are being protected from 'fake news'. The new symbol has been produced by the Independent Press Standards Organisation (Ipso) to help the public in ensuring that what they read is genuine rather than 'fake news'. - Telegraph A supermarket chain is to start selling food that is up to a month beyond its 'best-before' date in an attempt to slash waste. From today, shoppers at the Co-op's 125 East of England stores will be able to buy a range of out of date products for just 10p. - Telegraph Motor racing's regulator, the Fédération Internationale de l'Automobile (FIA), has an option on a 20pc stake in the electric-powered Formula E series, it has been revealed. FIA documents have come to light that show that the share option was offered as part of the negotiations when Formula E got the green light in 2014 after the FIA granted its Hong Kong-based parent company, Formula E Holdings (FEH), a licence to operate the series until 2038. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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