Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 17 January 2018 10:25:36 Monitor Quote Charts News CFD's Compare Brokers Free BB   Share Tips for 2018 The Share Centre’s investment research analyst Ian Forrest, comments on five equities, an investment trust as well as an ETF that our expert research team think could flourish in 2018.  Read more. Capital at risk. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks slip after weak US close; UBM surges on Informa merger London stocks slipped in early trade on Wednesday, taking their cue from a downbeat session in the US, although deal news helped to keep things interesting. At 0830 GMT, the FTSE 100 was down 0.2% to 7,743.93, while the pound was up 0.1% versus the euro at 1.1258 and down 0.1% against the dollar at 1.3776. Konstantinos Anthis at ADS Securities said: "The pound didn't receive any support from yesterday's inflation report that printed lower, in line with expectations, and until we get fresh data from the UK on Friday this might be a chance for some profit-taking in the British currency. The short-term support lies at the 1.3750 level but if the dollar picks up steam we could see a move towards and below the 1.37 mark today." On the corporate front, M&A was in focus as Informa, the events and specialist publishing group, has agreed a merger with smaller events-focused rival UBM in a deal that is expected to generate "significant synergies". Informa, which will offer 1.083 of its shares and 163p per UBM share, or 972.43p, will also supply chairman Derek Mapp and chief executive Stephen Carter for the combined group. UBM surged but Informa fell on the news. Sticking with deal news, Melrose Industries was weaker after it went hostile with its bid for engineer GKN, making a firm offer that values each GKN share at 430.1p. Luxury clothes retailer Burberry slumped as it reported slower sales growth in the last three months of 2017 than had been expected but remained confident of sashaying on to hit full year profit targets as it makes initial progress on its new strategy. Education publisher Pearson retreated after saying it expects 2017 adjusted operating profit of around £570m to £570m and adjusted earnings per share of 53.5p to 54.5p at effective exchange rates, as lower US educational sales still drag on the company. Cineworld was under the cosh after announcing a rights issue to part fund its acquisition of US cinema china Regal, as it posted a 12% jump in full-year revenue. Cineworld is offering four new ordinary shares for every one existing share at 157p, which is a 34% discount to the theoretical ex-rights price of 238.3p. Dairy Crest slipped as it appointed group finance director Tom Atherton as deputy chief executive with immediate effect, while Diploma was in the red even as it said first-quarter revenues were up 10% year-on-year. Support services and construction company Interserve fell sharply after the Financial Times said it was under government watch following the collapse of contractor Carillion. On the upside, IWG surged following a Bloomberg report that Brookfield Asset Management Inc and Onex Corp are preparing a bid that values the company at about £2.7bn. Beazley was on the front foot after the insurer said 2017 full-year profit is likely to be ahead of current market expectations. In broker note action, GlaxoSmithKline was higher after an upgrade by Barclays, Spire Healthcare was boosted by an upgrade to 'buy' at Jefferies and Big Yellow gained after an upgrade to 'buy' at Berenberg. British Land and Workspace were both up after upgrades at Stifel, but Cairn Energy was on the back foot after a downgrade to 'neutral' at Macquarie. The Top 10 Stocks for 2018 What does the year hold for these 10 blue chips? A look at some of the key themes in the coming 12-months, the key numbers from 2017, FTSE 100 companies that reached record highs… and those that fell to all-time lows, and our Top Stock Picks for 2018. Losses can exceed deposits. Get your copy FatPROPHETS Successful stock recommendations since 2000 Fat Prophets is a stock market research house that specialises in assisting value based investors with buy, hold and sell recommendations Click Here Market Movers FTSE 100 (UKX) 7,743.93 -0.15% FTSE 250 (MCX) 20,801.64 -0.36% techMARK (TASX) 3,534.85 -0.33% FTSE 100 - Risers Mediclinic International (MDC) 609.20p 1.50% NMC Health (NMC) 3,140.00p 1.23% Rolls-Royce Holdings (RR.) 863.20p 1.12% GlaxoSmithKline (GSK) 1,367.20p 0.90% British Land Company (BLND) 686.20p 0.73% Old Mutual (OML) 234.90p 0.51% Berkeley Group Holdings (The) (BKG) 4,141.00p 0.51% Fresnillo (FRES) 1,385.00p 0.47% United Utilities Group (UU.) 774.60p 0.44% Randgold Resources Ltd. (RRS) 7,222.00p 0.42% FTSE 100 - Fallers Informa (INF) 707.40p -5.35% Burberry Group (BRBY) 1,701.00p -4.71% Pearson (PSON) 687.40p -4.32% Imperial Brands (IMB) 3,090.00p -1.39% Shire Plc (SHP) 3,532.50p -1.19% Hammerson (HMSO) 509.40p -1.16% Royal Bank of Scotland Group (RBS) 295.90p -0.94% BHP Billiton (BLT) 1,605.40p -0.90% Carnival (CCL) 4,955.00p -0.90% Anglo American (AAL) 1,739.80p -0.88% FTSE 250 - Risers UBM (UBM) 906.50p 15.26% IWG (IWG) 280.40p 6.05% Beazley (BEZ) 519.50p 2.36% Spire Healthcare Group (SPI) 246.80p 2.15% Big Yellow Group (BYG) 843.50p 1.81% Workspace Group (WKP) 980.50p 1.66% Euromoney Institutional Investor (ERM) 1,198.00p 1.53% Hill & Smith Holdings (HILS) 1,342.75p 1.19% JD Sports Fashion (JD.) 394.00p 1.05% Lancashire Holdings Limited (LRE) 661.50p 0.68% FTSE 250 - Fallers Provident Financial (PFG) 716.00p -10.95% Cineworld Group (CINE) 539.00p -4.35% Ferrexpo (FXPO) 301.30p -2.78% Cairn Energy (CNE) 224.20p -2.44% Hunting (HTG) 623.00p -2.04% Vesuvius (VSVS) 607.00p -2.02% Moneysupermarket.com Group (MONY) 340.60p -1.93% Softcat (SCT) 514.76p -1.76% Petrofac Ltd. (PFC) 542.60p -1.70% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 RMG Royal Mail PLC 6.54 2 BP. BP Plc 5.31 3 NG. National Grid 5.19 4 RDSB Royal Dutch Shell Plc B Shares 4.49 5 SMT Scottish Mortgage Investment Trust 1.45 6 ULVR Unilever plc 1.40 7 CLLN Carillion plc 1.23 8 WTAN Witan Investment Trust 1.20 9 BOO Boohoo.com 1.18 10 SOPH Sophos Group plc 1.08 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 2.81 2 CLLN Carillion plc 2.80 3 BOO Boohoo.com 1.54 4 GKN GKN plc 1.49 5 XBT Provider AB 1.45 6 PMO Premier Oil Plc 1.17 7 IQE IQE plc 1.09 8 XBT Provider AB 1.05 9 GLEN Glencore plc 0.82 10 SXX Sirius Minerals plc 0.80 Cryptocurrencies Report Top Cryptocurrencies # Name Market Cap($) Price(%) Change Price Graph(3m) 1 Bitcoin (BTC) 175,907,611,188 10,137.15 -9.23% 2 Ethereum (ETH) 90,056,285,626 888.42 -12.93% 3 Ripple (XRP) 41,288,565,799 1.02 -10.71% 4 Bitcoin Cash / BCC (BCH) 28,397,795,378 1,605.49 -6.44% Atlantic Advisory - Share Tips of the Year 2018 Download Our Latest Report Here Losses can exceed deposits US Market Report US close: Stocks slip from record ground as oil price, Bannon 'summons' hit sentiment US stocks failed to stay in record territory on Tuesday as lower oil prices hit energy stocks and investors reacted to news that President Donald Trump's former chief strategist Steve Bannon had reportedly been subpoenaed as part of the probe into alleged Russian interference in the 2016 election. The Dow Jones Industrial Average set a fresh intraday record, breaching 26,000 for the first time, but closed 10 points lower at 25,793. The S&P 500 and the Nasdaq were down 0.35% and 0.51% at 2,777 and 7,234 respectively. West Texas Intermediate crude fell 0.67% to $63.87, while Brent crude was 1.32% lower at $69.33. The positive early sentiment was underpinned by earnings from the likes of Citigroup and UnitedHealth. In corporate news, Citigroup rose following the bank's quarterly earnings. Although it posted an $18.3bn loss for the last three months of 2017 due to a $22bn accounting charge, investors welcomed news that it was sticking to its promise to pay out at least $60bn to shareholders over three years. Long Blockchain rallied after announcing that it has entered into a letter of intent to be bought by Slater Blockchain in an all-share deal. Merck finished higher after a trial showed that its Keytruda drug in combination with two other chemotherapy drugs was successful as a first-line treatment for lung cancer. GM was in the black even as it said 2018 earnings are likely to be flat, with higher profit expected the year after, while UnitedHealth rose in after the insurer's quarterly earnings beat expectations. US-listed shares of BP clawed back losses after being down 3% and managed to buck the market trend, despite the oil giant reporting that it expects to take a post-tax non-operating charge of around $1.7bn in the fourth quarter as part of the class action settlement of the disastrous Deepwater Horizon oil well spill in the US in 2010. Shares in USA Compression edged higher as it said it will buy Energy Transfer Partner LP's compression business in a $1.8bn deal.Going the other way, General Electric lost ground after saying that a review of GE Capital's insurance portfolio would result in a $6.2bn after-tax charge in the fourth quarter. Car retailer AutoNation fell after saying it will use savings from the new US tax system towards retirement and cancer benefits for employees. On the macroeconomic front, results of a widely-followed regional gauge showed factory sector activity in the jurisdiction of the Federal Reserve bank of New York cooled a tad in January. The Empire State index slipped from a reading of 19.6 for December to 17.7 in January, versus economists' forecasts for a reading of 18.5. Sub-indices linked to new orders and shipments fell by 7.1 and 9.1 points each to 11.9 and 14.4, respectively. Meanwhile, a gauge referencing levels of staffing dropped by 19.1 points to 3.8. On the flip side, a sub-index tracking inventory levels jumped by 12.4 points to reach 13.8. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said: "On the face of it, these data suggest that the national ISM manufacture index will drop to about 57.5 from 59.7, but we think the Empire State numbers likely overstate the impact of the weather on the national picture. In any event, we see no reason to expect any sustained weakening in the manufacturing surveys." Dow Jones - Risers Merck & Co. Inc. (MRK) $62.07 5.81% Unitedhealth Group Inc. (UNH) $233.29 2.03% Johnson & Johnson (JNJ) $147.07 0.90% Coca-Cola Co. (KO) $46.53 0.82% Procter & Gamble Co. (PG) $90.22 0.68% Wal-Mart Stores Inc. (WMT) $100.68 0.66% Travelers Company Inc. (TRV) $135.51 0.58% Goldman Sachs Group Inc. (GS) $258.46 0.56% International Business Machines Corp. (IBM) $163.83 0.42% Visa Inc. (V) $120.39 0.25% Dow Jones - Fallers General Electric Co. (GE) $18.21 -2.93% Nike Inc. (NKE) $63.41 -1.95% United Technologies Corp. (UTX) $133.98 -1.90% Walt Disney Co. (DIS) $110.68 -1.59% Microsoft Corp. (MSFT) $88.35 -1.40% Chevron Corp. (CVX) $132.01 -1.19% Verizon Communications Inc. (VZ) $51.66 -0.86% Cisco Systems Inc. (CSCO) $40.54 -0.81% American Express Co. (AXP) $100.34 -0.62% Dowdupont Inc. (DWDP) $74.96 -0.60% S&P 500 - Risers Merck & Co. Inc. (MRK) $62.07 5.81% QUALCOMM Inc. (QCOM) $68.25 4.39% Equinix, Inc. (EQIX) $448.10 2.79% McKesson Corp. (MCK) $170.65 2.65% Flowserve Corp. (FLS) $45.05 2.39% AbbVie Inc (ABBV) $102.44 2.09% Unitedhealth Group Inc. (UNH) $233.29 2.03% Campbell Soup Co. (CPB) $46.44 2.03% American Tower Corp (Reit) (AMT) $135.62 1.97% Applied Materials Inc. (AMAT) $54.50 1.96% S&P 500 - Fallers Under Armour Inc. Class A (UAA) $13.81 -8.63% Viacom Inc. Class B (VIAB) $31.38 -7.05% Alliance Data Systems Corp. (ADS) $258.07 -6.62% CF Industries Holdings Inc. (CF) $40.71 -6.46% Transocean Ltd. (RIG) $11.47 -6.02% Frontier Communications Co. (FTR) $7.82 -5.78% Mosaic Company (MOS) $25.68 -5.66% Unum Group (UNM) $55.56 -5.18% Bristol-Myers Squibb (BMY) $59.91 -4.62% Range Resources Corp. (RRC) $16.79 -4.49% Nasdaq 100 - Risers QUALCOMM Inc. (QCOM) $68.25 4.39% Asml Holdings N.V. (ASML) $186.38 3.05% Align Technology Inc. (ALGN) $263.88 2.11% Applied Materials Inc. (AMAT) $54.50 1.96% Wynn Resorts Ltd. (WYNN) $168.73 1.93% Baidu Inc. (BIDU) $257.78 1.87% Kraft Heinz Co. (KHC) $78.64 1.67% Idexx Laboratories Inc. (IDXX) $176.10 1.65% Henry Schein Inc. (HSIC) $76.04 1.60% Gilead Sciences Inc. (GILD) $80.25 1.56% Nasdaq 100 - Fallers Autodesk Inc. (ADSK) $111.98 -3.39% Symantec Corp. (SYMC) $27.86 -3.31% Ross Stores Inc. (ROST) $80.87 -3.24% Cerner Corp. (CERN) $70.62 -3.13% Dish Network Corp. (DISH) $47.99 -3.01% Take-Two Interactive Software Inc. (TTWO) $113.96 -2.85% Incyte Corp. (INCY) $91.65 -2.57% Workday, Inc. (WDAY) $110.09 -2.49% Activision Blizzard Inc. (ATVI) $68.70 -2.36% 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. Newspaper Round Up Wednesday newspaper round-up: Carillion, pay gap, Heathrow, GKN The dramatic collapse of Carillion has started to hit thousands of the firm’s suppliers, as the real world impact of the demise starts to emerge. Subcontractors owed money by the construction and services giant are already being pressurised by their banks and have begun laying off workers, as the threat of contagion afflicting the sector was likened to a near re-run of the banking crisis. - Guardian Heathrow is to unveil proposals for a shorter, cheaper third runway in a public consultation to help push its expansion plans through. The airport will propose cutting 300 metres from the length of the northwestern runway, a scheme approved by the government following the Airports Commission process, in an attempt to cut costs. ?" Guardian UK working women are losing out on £138bn each year compared with their male counterparts and those in London are most affected, figures compiled by the Young Women's Trust show. While men earn an average full-time salary of £39,003 a year, women in full time work earn 23pc less, or £29,891, largely because male employees tend to be paid a higher wage, reach more senior positions and they are also more likely to work in higher-paid industries, the Young Women's Trust said. Considering there are UK's 15.1m working women in the UK, that means collectively, those women are missing out on £137.7bn, or £9,112 each, a year. ?" Telegraph Virgin Atlantic has called for a guarantee to prevent passenger charges rising on the back of an expanded Heathrow as the airport kicks off a 10-week consultation on its plans. The airline's chief executive Craig Kreeger has suggested there should be a "passenger cost guarantee" to ensure airport charges do not rise significantly from their current levels. ?" Telegraph Nationwide told officials at the last minute that it would not be ready to implement "open banking" reforms intended to increase competition and to give customers a better deal. Britain's biggest building society told the Competition and Markets Authority last Wednesday that it needed more time, only three days before the official launch of the new rules. ?" The Times The pension fund trustees overseeing a £1 billion deficit in the retirement schemes of GKN have put themselves at the centre of the battle for the FTSE 100 engineer, saying that any takeover deal for the company will need to go through them first. A £7 billion takeover approach by Melrose, the quoted conglomerate, has been rejected and there has been speculation of counter-offers coming from American private equity or break-up bids by rival automotive and aerospace components groups. ?" 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