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Jan 29, 2018

Morning Euro Markets Bulletin

 
ADVFN  Morning Euro Markets Bulletin
Daily world financial news Monday, 29 January 2018 10:13:06
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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.

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London Market Report
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London open: Stocks edge higher in quiet trade as dollar claws back losses

London stocks edged higher in fairly quiet trade on Monday as the pound gave back some gains against the dollar.

At 0830 GMT, the FTSE 100 was up 0.2% to 7,678.19, while the pound was flat against the euro at 1.1393 and down 0.3% versus the dollar 1.4125.

Spreadex analyst Connor Campbell said the dollar's move higher was "nothing to write home about", especially given the recent 19-month and three-year lows the greenback has hit against the pound and the euro, respectively.

"But it is better than what the currency endured in the first half of last week, and at the moment the dollar will take whatever it can get," he said.

The start of the week kicked off in fairly quiet fashion, with no major data releases due on Monday, though a meeting in Brussels will formally agree negotiating terms on the Brexit transition period.

Things will pick up on Tuesday with the release of UK net lending and mortgage approvals and an important Brexit debate in the House of Lords and get busier stateside too, with President Donald Trump's State of the Union Address, while the Fed meeting on Wednesday and non-farm payrolls on Friday will also be market highlights.

In corporate news, Anglo American rose after announcing the sale of the New Largo thermal coal project and Old New Largo closed colliery in South Africa for ZAR 850m ($71m).

John Laing Infrastructure advanced as it said there would be "minimal" service disruption from the Carillion collapse but that it expects additional advisory and transaction costs to be approximately £3m in aggregate.

GKN nudged just a touch lower as it looked to clear up a dispute over its pensions deficit as it battles to stave off a hostile takeover from smaller rival Melrose Industries. The FTSE 100 group said its group pension scheme's deficit stood at £0.7bn on one basis of accounting at the end of December, or could be as low as £0.4bn on an actuarial basis or as high as £1.4bn if gilt yields do not rise.

Relx Group fell after agreeing to buy California-based security technology company ThreatMetrix for £580m in cash.

On the broker note front, EasyJet flew lower after a downgrade to 'market perform' at Bernstein, while Diageo dropped after a downgrade to 'sector perform' at RBC Capital Markets and Polymetal was hit by a downgrade to 'underweight' at JPMorgan.


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Market Movers

FTSE 100 (UKX) 7,678.19 0.17%
FTSE 250 (MCX) 20,692.89 0.38%
techMARK (TASX) 3,485.09 0.37%

FTSE 100 - Risers

Scottish Mortgage Inv Trust (SMT) 476.79p 1.23%
Anglo American (AAL) 1,753.80p 1.11%
Rolls-Royce Holdings (RR.) 865.00p 1.08%
Glencore (GLEN) 406.03p 1.03%
Antofagasta (ANTO) 950.20p 0.98%
Rio Tinto (RIO) 3,979.00p 0.93%
Micro Focus International (MCRO) 2,213.00p 0.87%
Evraz (EVR) 387.00p 0.86%
Shire Plc (SHP) 3,467.00p 0.81%
Smiths Group (SMIN) 1,629.50p 0.80%

FTSE 100 - Fallers

easyJet (EZJ) 1,666.00p -1.36%
Diageo (DGE) 2,532.50p -1.04%
Fresnillo (FRES) 1,359.50p -0.66%
British American Tobacco (BATS) 4,907.50p -0.64%
Coca-Cola HBC AG (CDI) (CCH) 2,404.00p -0.58%
AstraZeneca (AZN) 5,072.00p -0.45%
InterContinental Hotels Group (IHG) 4,757.00p -0.44%
Land Securities Group (LAND) 1,006.40p -0.40%
Reckitt Benckiser Group (RB.) 6,702.00p -0.37%
GKN (GKN) 434.90p -0.25%

FTSE 250 - Risers

Sirius Minerals (SXX) 23.65p 2.04%
John Laing Infrastructure Fund Ltd (JLIF) 115.60p 1.94%
Rank Group (RNK) 230.00p 1.77%
Ferrexpo (FXPO) 305.40p 1.60%
Cineworld Group (CINE) 514.50p 1.48%
Crest Nicholson Holdings (CRST) 516.50p 1.47%
Purecircle Limited (DI) (PURE) 420.00p 1.45%
Intermediate Capital Group (ICP) 1,141.00p 1.42%
Pets at Home Group (PETS) 181.03p 1.42%
McCarthy & Stone (MCS) 150.70p 1.41%

FTSE 250 - Fallers

Millennium & Copthorne Hotels (MLC) 528.00p -3.30%
Polymetal International (POLY) 833.60p -2.32%
Acacia Mining (ACA) 189.80p -1.79%
Euromoney Institutional Investor (ERM) 1,106.00p -1.25%
Capital & Counties Properties (CAPC) 304.30p -1.07%
Hochschild Mining (HOC) 227.90p -1.00%
Workspace Group (WKP) 998.00p -0.99%
RDI Reit (RDI) 35.05p -0.99%
Renewi (RWI) 102.00p -0.97%


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Hargreaves Lansdown

Top of the stocks

Number of Deals Bought

Place EPIC Equity name %
1 IQE IQE plc 2.45
2 SMT Scottish Mortgage Investment Trust 1.84
3 BOO Boohoo.com 1.33
4 FEVR Fevertree Drinks plc 1.31
5 NG. National Grid 1.30
6 LGEN Legal & General Group plc 1.21
7 LLOY Lloyds Banking Group plc 1.13
8 IMB Imperial Brands Group 1.09
9 SOPH Sophos Group plc 1.05
10 SXX Sirius Minerals plc 0.95

Number of Deals Sold

Place EPIC Equity name %
1 IQE IQE plc 2.75
2 LLOY Lloyds Banking Group plc 2.52
3 BARC Barclays plc 1.33
4 NG. National Grid 1.13
5 GSK GlaxoSmithKline plc 0.95
6 FEVR Fevertree Drinks plc 0.91
7 EZJ easyJet plc 0.91
8 BOO Boohoo.com 0.88
9 SXX Sirius Minerals plc 0.77
10 PRSM Blue Prism plc 0.76

Cryptocurrencies Report

Top Cryptocurrencies

# Name Market Cap($) Price(%) Change Price Graph(3m)
1 Bitcoin (BTC) 191,175,727,305 11,369 -4.01%
2 Ethereum (ETH) 116,471,642,498 1,188.7 -4.64%
3 Ripple (XRP) 51,458,752,962 1.3 -4.92%
4 Bitcoin Cash / BCC (BCH) 28,527,425,537 1,686.4 -4.2%

Atlantic Advisory - Share Tips of the Year 2018

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US Market Report

US close: Stocks power on to record levels as GDP numbers shrugged aside

US stocks finished at record highs on Friday, with strong results from Intel helping to underpin the mood following the release of disappointing fourth-quarter growth figures, as the dollar came off lows.

The Dow Jones Industrial Average rose 223.92 points to a record at 26,616.71. The S&P 500 index gained 33.62 points to 2,872.87 and the Nasdaq Composite finished a strong 94.61 points higher to 7,505.77 - records also for both indices.

Preliminary data out earlier from the Commerce Department showed the US economy grew more slowly than expected in the final quarter of last year. Gross domestic product rose at an annualised rate of 2.6% in the fourth quarter of 2017 following 3.2% growth in the previous quarter and 3.1% in the second quarter, missing expectations of 3% growth.

Compared with a year earlier, GDP grew 2.5% in the final three months of last year, marking the strongest calendar year for economic growth since 2014.

Personal consumption expenditures rose at an annual rate of 3.8% in the fourth quarter compared to 2.2% growth in the third, with spending on goods the highest in more than a decade.

But investors were happy to shrug off the news, focusing instead on a stellar performance from Intel, which surged nearly 10% after better-than-expected quarterly earnings on Thursday

Elsewhere, Rockwell Collins nudged up after its first-quarter earnings and sales exceeded estimates.

Honeywell rose after lifting its 2018 earnings outlook, while Nike edged up following a report that William Ackman's Pershing Square Capital Management has taken a stake in the group.

Wynn Resorts fell about 10.1%, after a report in the Wall Street Journal claimed the casino firm's owner Steve Wynn, has a long history of sexual misconduct.

Colgate-Palmolive shares looked less bright after weaker-than-expected fourth quarter results while Starbucks shares left a bitter taste the ubiquitous coffee house said same-store sales were below expectations.

Market participants also digested President Trump's speech at the World Economic Forum in Davos, during which he said the US will no longer turn a blind eye to unfair trade practices.

Trump pledged to always put the US first but said this does not mean America alone.

"I'm here to deliver a simple message - there has never been a better time to hire, to build, to invest and to grow in the United States. America is open for business and we are competitive once again."

In currency markets, the dollar was still under the cosh but paring some of its earlier losses against the pound and the euro as it found some support from Trump's remarks, after he said that ultimately he wants the currency to be strong.

IG analyst Chris Beauchamp said: "Mr Trump seems almost neutral on the currency, but at least he didn't talk it down even more. With non-farm payrolls and a Fed meeting next week, the time could be ripe for a dollar rebound in the near-term, but don't write off the bear market in the greenback just yet ."

Dow Jones - Risers

Intel Corp. (INTC) $50.08 10.55%
Pfizer Inc. (PFE) $39.00 4.78%
3M Co. (MMM) $258.63 2.48%
Microsoft Corp. (MSFT) $94.06 1.87%
Wal-Mart Stores Inc. (WMT) $108.39 1.68%
Cisco Systems Inc. (CSCO) $42.56 1.58%
McDonald's Corp. (MCD) $178.35 1.54%
Walt Disney Co. (DIS) $112.19 1.48%
Coca-Cola Co. (KO) $48.52 1.44%
Unitedhealth Group Inc. (UNH) $248.47 1.34%

Dow Jones - Fallers

Caterpillar Inc. (CAT) $167.06 -1.36%
Procter & Gamble Co. (PG) $87.70 -0.69%
Goldman Sachs Group Inc. (GS) $268.14 -0.33%
General Electric Co. (GE) $16.13 -0.31%
American Express Co. (AXP) $99.63 -0.06%
Boeing Co. (BA) $343.22 0.03%
United Technologies Corp. (UTX) $137.97 0.17%
Apple Inc. (AAPL) $171.51 0.23%
Chevron Corp. (CVX) $131.19 0.41%
Dowdupont Inc. (DWDP) $77.02 0.48%

S&P 500 - Risers

AbbVie Inc (ABBV) $123.21 13.77%
Intel Corp. (INTC) $50.08 10.55%
Gilead Sciences Inc. (GILD) $85.46 5.26%
Microchip Technology Inc. (MCHP) $96.91 4.79%
Pfizer Inc. (PFE) $39.00 4.78%
CF Industries Holdings Inc. (CF) $42.13 4.26%
Spectra Energy Corp. (SE) $13.29 4.24%
Biogen Inc (BIIB) $367.91 4.01%
Ameriprise Financial Inc. (AMP) $179.84 3.88%
L3 Technologies Inc (LLL) $216.92 3.73%

S&P 500 - Fallers

Wynn Resorts Ltd. (WYNN) $180.29 -10.12%
Colgate-Palmolive Co. (CL) $73.56 -4.85%
Regeneron Pharmaceuticals Inc. (REGN) $374.36 -4.46%
Starbucks Corp. (SBUX) $57.99 -4.23%
Endo International Plc (ENDP) $7.14 -3.90%
Ball Corp (BLL) $38.12 -2.78%
Clorox Co. (CLX) $142.62 -2.39%
Air Products & Chemicals Inc. (APD) $169.77 -2.39%
Hasbro Inc (HAS) $93.39 -2.26%
Bed Bath & Beyond Inc. (BBBY) $22.53 -2.17%

Nasdaq 100 - Risers

Intel Corp. (INTC) $50.08 10.55%
Maxim Integrated Products Inc. (MXIM) $59.01 7.06%
JD.com, Inc. (JD) $50.50 6.59%
Mercadolibre Inc. (MELI) $381.86 6.05%
Gilead Sciences Inc. (GILD) $85.46 5.26%
Microchip Technology Inc. (MCHP) $96.91 4.79%
Biogen Inc (BIIB) $367.91 4.01%
Align Technology Inc. (ALGN) $283.97 3.81%
Sirius XM Holdings Inc (SIRI) $5.98 3.64%
Seagate Technology Plc (STX) $54.94 3.33%

Nasdaq 100 - Fallers

Wynn Resorts Ltd. (WYNN) $180.29 -10.12%
Regeneron Pharmaceuticals Inc. (REGN) $374.36 -4.46%
Starbucks Corp. (SBUX) $57.99 -4.23%
Hasbro Inc (HAS) $93.39 -2.26%
Intuitive Surgical Inc. (ISRG) $440.24 -2.13%
Kraft Heinz Co. (KHC) $79.39 -0.35%
Verisk Analytics Inc. (VRSK) $98.31 -0.28%
Mondelez International Inc. (MDLZ) $44.42 -0.11%
American Airlines Group (AAL) $53.07 0.04%


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Newspaper Round Up

Monday newspaper round-up: Carillion, economic growth, business rates, Provident Financial

MPs have accused the Pensions Regulator of failing to act while Carillion racked up debts to pay dividends and executive bonuses, as the business built up a pension deficit that reached nearly £1bn by the time it collapsed this month. The House of Commons work and pensions committee, which is investigating Carillion’s collapse into compulsory liquidation two weeks ago, criticised the Pensions Regulator for allowing Carillion’s pension trustee to defer pension deficit contributions in September in a bid to keep it afloat by enabling more borrowing. – Guardian

Economic growth in the UK is expected to slow in the first few months of 2018 as high inflation, weak consumer confidence and uncertainty surrounding Brexitdiscourage high street spending and investment. A series of business and consumer surveys pointed to lower growth, ending a strong run that culminated in a rise in GDP growth to 0.5% in the last quarter of 2017. ?" Guardian

A relief fund worth £300m set up by Philip Hammond, the Chancellor, to support small firms struggling under the weight of business rates rises has proved a "false hope" after failing to pass on tens of millions of pounds 300 days after its launch. Research by Gerald Eve, the property consultancy, has found that more than £70m of the £175m allocated to councils for the year to March 2018 has yet to be passed on to local firms. ?" Telegraph

City shareholders hungry for more after pocketing a record £94.4bn in payouts last year will be left with little more than a "hangover" in 2018, a study has found. British businesses paid out a record amount to their investors last year due to high one-off dividends and foreign exchange rate gains. However, growth "slowed to a crawl" in the final months of the year, the latest analysis by Link Asset Services shows, with dividends this year set to rise by just 1.6pc. ?" Telegraph

The Pig, a chain of shabby chic hotels co-owned by Jim Ratcliffe, the billionaire chief executive of Ineos, the chemicals company, is poised to make three additions to its litter. Almost seven years after opening its first hotel, in Brockenhurst, Hampshire, the group plans to open in Kent, West Sussex and Cornwall at a combined cost of £30 million. The Pig is the brainchild of Robin Hutson, who co-founded Hotel du Vin and then helped Mr Ratcliffe open Lime Wood, a hotel in the New Forest. ?" The Times

Four former bosses at Provident Financial have launched employment tribunal claims for unfair dismissal in the wake of the botched restructuring of its salesforce, The Times has learnt. In a deepening of the crisis facing the troubled subprime lender, Andy Parkinson, former head of Provident's doorstep lending business, has a hearing scheduled for mid-April. ?" The Times

 

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