| | | | | | | Stocks for your stocking this Christmas As it’s the season for sharing Ian Forrest, investment research analyst at The Share Centre, comments on five companies that ‘yule’ likely see prosper as a result of the festive season. Capital at risk. Read more | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks flat but retailers get a boost as Next lifts guidance London stocks were little changed early on Wednesday as investors eyed the latest reading on the UK construction sector and minutes from the Federal Reserve, although retailers got a boost as Next lifted its guidance. At 0830 GMT, the FTSE 100 was flat at 7,647.23, while the pound was up 0.2% versus the euro at 1.1295 and steady against the greenback at 1.3590. UK construction PMI is at 0930 GMT, while the latest FOMC minutes are at 1900 GMT. Accendo Markets analyst Mike van Dulken said: "This evening sees publication of the December Fed FOMC minutes, providing us with the latest on voting member views and what we might expect for 2018 in terms of further policy normalisation (rate hikes, QE unwind). Fireworks likely absent until next month, however, when new Fed chair Powell takes his seat from Yellen, the latter chairing one last meeting at the end of this month." In corporate news, Next provided some cheer, racking up impressive gains as the retailer nudged up its full year profit target thanks to a better online sales performance in the run up to Christmas, and said it expects increased sales but lower profits in the coming year. Fellow retailer Marks & Spencer rose, along with Primark owner Associated British Foods. FTSE 250 residential landlord Grainger nudged up after it exchanged contracts with Abode Hallam Limited and agreed to forward fund and acquire a private rented sector (PRS), build to rent development, Eccy Village, in Sheffield, for around £32m. Indivior ticked higher after saying it is joining up with Switzerland's Addex Pharma to support the development of treatments for drug addiction that target neurotramsitter systems, while Wizz Air was in the black as it posted a 20% jump in passenger numbers in December. Babcock International slipped after signing a five-year agreement worth about £115m to maintain frigates for the Australian navy. Electrocomponents was a touch weaker after saying it expects changes to US tax law to trigger a one-off credit this year followed by a reduced overall tax rate. Budget airline Ryanair flew lower as it reported a 3% jump in traffic for December and said it has applied for a UK air operator licence so it can continue to fly from Britain in the event of a hard Brexit. Outsourcer and construction Carillion slumped as it emerged it is being investigated by the Financial Conduct Authority over the "timeliness and content" of updates made by the company between 7 December 2016 and 10 July 2017. CLS Holdings was flat as it unconditionally exchanged contracts to sell three properties in Peterborough in the UK and Hamburg in Germany for £12.4m. In broker note action, IG Group was up after Barclays lifted its price target on the stock and reiterated its 'overweight' stance, while Experian and Bunzl were boosted by upgrades to 'outperform' at Credit Suisse. Serco, Hays and Pagegroup were all lower following downgrades by Credit Suisse. |
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| | Market Movers FTSE 100 (UKX) 7,647.23 -0.01%
FTSE 250 (MCX) 20,722.75 0.20%
techMARK (TASX) 3,552.00 0.34% FTSE 100 - Risers Next (NXT) 4,883.00p 8.51%
Marks & Spencer Group (MKS) 327.76p 3.69%
Experian (EXPN) 1,649.00p 3.09%
Associated British Foods (ABF) 2,853.00p 2.66%
Ashtead Group (AHT) 2,000.00p 1.73%
GlaxoSmithKline (GSK) 1,342.00p 1.53%
Intertek Group (ITRK) 5,194.00p 1.41%
NMC Health (NMC) 2,906.00p 1.32%
G4S (GFS) 265.90p 1.18%
Bunzl (BNZL) 2,068.00p 1.17% FTSE 100 - Fallers Old Mutual (OML) 226.00p -1.22%
TUI AG Reg Shs (DI) (TUI) 1,529.50p -1.16%
Standard Chartered (STAN) 769.90p -1.00%
Carnival (CCL) 4,856.00p -0.94%
Anglo American (AAL) 1,581.20p -0.87%
Imperial Brands (IMB) 3,129.00p -0.86%
National Grid (NG.) 854.60p -0.85%
Severn Trent (SVT) 2,121.00p -0.80%
HSBC Holdings (HSBA) 759.10p -0.78%
Centrica (CNA) 140.10p -0.78% FTSE 250 - Risers Brown (N.) Group (BWNG) 283.07p 6.18%
IG Group Holdings (IGG) 759.50p 4.18%
Dunelm Group (DNLM) 697.00p 2.27%
Supergroup (SGP) 2,024.00p 2.22%
Computacenter (CCC) 1,167.04p 2.19%
Sports Direct International (SPD) 391.50p 1.98%
Sirius Minerals (SXX) 23.70p 1.89%
Saga (SAGA) 126.10p 1.69%
Pets at Home Group (PETS) 173.40p 1.64%
Victrex plc (VCT) 2,668.00p 1.60% FTSE 250 - Fallers Serco Group (SRP) 93.50p -5.03%
Pagegroup (PAGE) 450.80p -2.72%
Clarkson (CKN) 2,800.00p -2.61%
Equiniti Group (EQN) 281.00p -2.09%
Hays (HAS) 180.20p -1.69%
PZ Cussons (PZC) 315.00p -1.69%
Rank Group (RNK) 244.50p -1.61%
CYBG (CYBG) 327.60p -1.56%
Greene King (GNK) 562.80p -0.99% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks track gains on Wall Street as euro dips Stocks have begun the session trading slightly higher, recovering the previous session's losses amid a small bounce in the greenback and ahead of the release of a key report which might provide some further insight into the US central bank's thinking, the minutes of the Federal Reserve's last policy meeting. As of 0829 GMT, the benchmark Stoxx was up by 0.37% or 1.45 points to 389.90, alongside a rise of 0.56% or 71.30 points to 12,942.69 on the Dax and an advance of 0.32% or 70.22 points to 21,915.05 for the FTSE Mibtel. In parallel, euro/dollar was off by 0.11% to 1.2042. Meanwhile, 10-year Bunds found a small bid after Tuesday's losses. Overnight, stocks in the States powered to new record highs, with the tech-heavy Nasdaq Composite climbing atop the 7,000 point mark for the first time ever. Commenting on those minutes, Naeem Aslam, senior market analyst at Think Markets wrote: "The FOMC minutes are due later today and traders would like to know the more reasonable answer around the biggest debate -inflation. During Janet Yellen's tenure, she hasn't made any meaningful progress around inflation. A vast majority of Fed staff do think that weakness in the core inflation may continue this year and the upcoming Fed chairman, Jerome Powell would have to address this issue pretty much head-on." Worth noting, of the 39 assets regularly covered by Deutsche Bank, Bunds were the worst performer in 2017 in local currency terms. On a related note, Jim Reid at Deutsche Bank pointed out: "This was with 2017 still seeing very strong QE and very low government issuance. As we also reminded readers yesterday, 2018 will be the first year this decade that QE accumulation from the big-3 (ECB, Fed and BoJ) won't increase relative to net government issuance from these three regions. How bonds cope with this will be one of the key drivers of assets in 2018. We continue to think yields go higher from here." Also helping to boost sentiment, Germany's Federal Labor Office reported that seasonally adjusted joblessness fell by 29,000 to 2.442m, which was more than twice the 14,000 decline economists had predicted. Later in the day, the key release would be the minutes of the 14-15 December Federal Open Market Committee at 1900 GMT, although the ADP payrolls report for the month of December at 1315 GMT might induce some volatility beforehand. The ISM's services sector Purchasing Managers' Index for December was also scheduled for release, at 1500 GMT. Making headlines in the corporate space, citing Dow Jones, CNBC reported that Deutsche Telekom's T-Mobile unit and US rival Sprint were working to salvage their merger. Hugo Boss was also in fashion after the luxury apparel retailer lifted its guidance for sales in 2017 on the heels of a solid third quarter performance. Elsewhere, Fiat Chrysler posted a 3.17% drop in auto sales in Italy for December. |
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | US Market Report | | US close: S&P 500 sets new record as oil and tech stocks gain Wall Street got off on the front foot as trading floors opened for 2018 with stock indices led higher by oil and tech as the dollar and Treasuries suffered a new year hangover. The S&P 500 added 22.2 points or 0.8% to reach a record closing high of 2,695.81, while the Dow Jones Industrial Average gained 104.79 points or 0.42% to 24,824.01 by Tuesday's closing bell and the Nasdaq Composite regained the 7,000 mark with a rise of 103.5 points or 1.5%. Earlier, European stocks finished lower but Asian markets enjoyed a strong session. US equities were helped by a fall in the dollar, with the dollar index down 0.4% lower to 91.87, while the yield on the benchmark 10-year US Treasury note was up five basis points to 2.46%. Oil started strong and while not able to gain new highs, West Texas Intermediate hung onto the $60, which remains not far from three year highs. Anti-government protests in Iran have helped fuel buying in the energy market as the country is one of the biggest oil producers in the world. "Whenever there is political upheaval in the Middle East oil traders usually fears for the worst and stock up as they fear that supply lines will be disrupted," said analyst David Madden at CMC Markets. A slight boost for markets was also incoming from the strongest reading on the manufacturing sector from IHS Markit's purchasing managers' index since March 2015. The December PMI climbed to 55.1 points from 53.9 the month before, though the Street consensus had been for a rise to 56.1. Chris Williamson, chief business economist at Markit said: "The combination of strengthening growth, a solid labour market and rising prices will add to expectations that the Fed will remain on track for another rate hike in the near future, with March looking a likely possibility." Corporate news was sparse apart from thanks to broker action, although Apple was making headlines after analysts at Piper Jaffray reiterated their 'outperform' stance and $200 target for the iPhone maker, telling clients the company was in a "super-long cycle". Likewise, Netflix and Disney were up on renewed talk that Donald Trump's newly passed tax cuts could allow Apple to splash some of the $220bn of cash it is due to bring back into the country on some acquisitions in the media space. Retailers JC Penney, Nordstrom and Kohl's made ground after a bullish Citigroup note on the sector also set out potential benefits from the new corporate tax regime. Software heavyweight Oracle on the other hand was under pressure on the heels of a report that Amazon and Salesforce were developing their plans to use their own in-house database solutions. Casino operators Wynn Resorts and Melco Resorts slipped on data showing a disappointingly low rise in Macau gambling revenue last month. Dow Jones - Risers Walt Disney Co. (DIS) $111.80 3.67%
General Electric Co. (GE) $17.98 3.04%
Apple Inc. (AAPL) $172.26 1.79%
Chevron Corp. (CVX) $127.58 1.74%
Exxon Mobil Corp. (XOM) $85.03 1.66%
Nike Inc. (NKE) $63.49 1.50%
Intel Corp. (INTC) $46.85 1.49%
Cisco Systems Inc. (CSCO) $38.86 1.46%
Verizon Communications Inc. (VZ) $53.52 1.13%
Dowdupont Inc. (DWDP) $71.89 0.95% Dow Jones - Fallers Travelers Company Inc. (TRV) $131.98 -2.70%
Procter & Gamble Co. (PG) $90.65 -1.34%
Home Depot Inc. (HD) $188.03 -0.79%
Coca-Cola Co. (KO) $45.54 -0.74%
American Express Co. (AXP) $98.94 -0.37%
Johnson & Johnson (JNJ) $139.24 -0.35%
Caterpillar Inc. (CAT) $157.02 -0.34%
Wal-Mart Stores Inc. (WMT) $98.59 -0.16%
Merck & Co. Inc. (MRK) $56.22 -0.09%
3M Co. (MMM) $235.64 -0.05% S&P 500 - Risers Frontier Communications Co. (FTR) $7.27 7.54%
Advance Auto Parts (AAP) $106.12 6.41%
United States Steel Corp. (X) $37.42 6.34%
Micron Technology Inc. (MU) $43.67 6.20%
Southwestern Energy Co. (SWN) $5.91 5.91%
Tenet Healthcare Corp. (THC) $16.00 5.47%
Range Resources Corp. (RRC) $17.93 5.04%
Biogen Inc (BIIB) $334.17 4.90%
Apache Corp. (APA) $44.30 4.88%
Patterson Companies Inc. (PDCO) $37.88 4.84% S&P 500 - Fallers VeriSign Inc. (VRSN) $109.47 -4.34%
XL Group Ltd (XL) $34.02 -3.24%
Chubb Corp. (CB) $142.28 -2.80%
Travelers Company Inc. (TRV) $131.98 -2.70%
Allstate Corp (The) (ALL) $101.92 -2.66%
Amer Water Works (AWK) $89.07 -2.63%
Wynn Resorts Ltd. (WYNN) $164.30 -2.54%
Clorox Co. (CLX) $144.99 -2.52%
Cincinnati Financial Corp. (CINF) $73.08 -2.52% |
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| | Newspaper Round Up | | Wednesday newspaper round-up: Ryanair, house prices, Mifid II, EDF Ryanair has applied for a British air operating licence to ensure its domestic UK routes can keep flying after Brexit. The Irish airline has repeatedly warned that flights could be grounded after March 2019 unless a new framework for aviation is agreed between Britain and the EU. – Guardian House prices in "prime" central London appear to be stabilising, while areas in the south and west of the capital such as Wandsworth and Richmond are now under increasing pressure, according to estate agent Savills. The company is predicting that average property values in central London's top-end enclaves such as Knightsbridge, Mayfair and Holland Park will record no growth for the next two years following three years of decline. ?" Guardian WANdisco, the Sheffield-based software company, has secured its biggest deal to date, capping a turnaround year in which its share price has trebled. The company will announce on Wednesday morning that it has won a $4.3m (£3.2m) contract with "one of the world's leading financial institutions". ?" Telegraph City staff who spent the Christmas period racing to prepare for a major piece of EU legislation that goes live on Tuesday have been warned that meeting deadline does not mean the work is over. Staff at firms including TP ICAP were barred from taking holiday during the festive period so that they could prepare for the sweeping markets reform, known as Mifid II, by the January 3 deadline. ?" Telegraph EDF believes that it can build a second nuclear power station to follow Hinkley Point C for up to £5 billion less than the Somerset plant. The French energy giant has said it will cost it at least £19.6 billion to build Hinkley Point, Britain's first new nuclear plant in a generation, and as much as £20.3 billion if delays push it becoming operational back from 2025 to 2027. ?" The Times Tesco's former UK food boss did not commit fraud but in fact helped to uncover accounting irregularities after ordering a junior employee to investigate problems in its commercial finance department, his lawyer told a court yesterday. Ian Winter, QC, for John Scouler, said that far from trying to cover up a fraud, Mr Scouler had "ordered" Amit Soni ?" a Tesco finance director and the "whistleblower" behind the grocer's high-profile accounting scandal ?" to investigate problems with the reporting of income from suppliers. ?" The Times |
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