| | | | | | | 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 track US and Asia higher, retailers slump on Debenhams warning London stocks edged higher in early trade on Thursday, tracking strength in the US and Asia as investors eyed the latest reading on the UK services sector, although retailers were under the cosh following a profit warning from Debenhams. At 0830 GMT, the FTSE 100 was up 0.2% to 7,684.34, while the pound was flat against the euro at 1.1244 and 0.1% firmer versus the dollar at 1.3523. Sentiment was underpinned by positive sessions in the US and Asia. On Wall Street, the S&P 500 rose above 2,700 for the first time, while the Dow and the Nasdaq hit record highs. In Asia, shares were boosted by data showing that China's services sector grew at its fastest pace in more than three years in December. The Caixin/Markit services purchasing managers' index rose to 53.9 last month from 51.9 in November, marking the best reading since August 2014 and beating expectations of 51.8. Meanwhile, the headline Caixin China Composite PMI came in at 53.0 from 51.6 the month before. Investors will be eyeing the release of net lending, consumer credit, mortgage approvals and Markit's services PMI for the UK. Analyst Connor Campbell at Spreadex said: "December's manufacturing and construction figures have already disappointed, while also managing to remain relatively strong compared to much of 2017. The services PMI is somewhat expected to buck the trend, with analysts forecasting a rise from 53.8 to 54.1 month-on-month - not a bad note to end 2017 on, but still a way away from October's muscly 55.6 reading." The US ADP employment report at 1315 GMT will also be in focus ahead of Friday's non-farm payrolls report. Minutes from the Federal Reserve's December meeting released late on Wednesday showed that some officials thought the three 25-basis points rate increases projected for this year might be too aggressive. The minutes also suggested that the Fed will continue to take a gradual approach to lifting rates, although this could accelerate if the pace of inflation picks up. In addition, Fed officials discussed the possibility that President Trump's tax changes could cause inflation pressures to rise. In UK news, the latest survey from mortgage lender Nationwide revealed that, despite an above-expectation rise in December, house price growth slowed in 2017 and will barely rise this year. Prices were up 2.6% on the year, down from the 4.5% increase recorded in 2016. Robert Gardner, Nationwide's chief economist, said: "Low mortgage rates and healthy employment growth continued to support demand in 2017, while supply constraints provided support for house prices. However, this was offset by mounting pressure on household incomes, which exerted an increasing drag on consumer confidence as the year progressed." Meanwhile, London was the weakest region for the first time since 2004, with prices in the capital down 0.5%. Gardner said: "The significant disparity in house prices across the UK has been a recurring theme in recent years. In this respect, 2017 saw the beginnings of a shift, as rates of house price growth in the south of England moderated towards those prevailing in the rest of the country." On the corporate front and in sharp contrast to Next's performance a day earlier, Debenhams shares fell more than 20% after issuing the first profit warning of 2018 as sales and "tactical promotional action" misfired in the crucial festive period. UK like-for-like sales fell 2.6% in the 17 weeks to 30 December and after cutting prices for many weeks in order to try and compete, gross margins for the six-month period are expected to be down around 1.5 percentage points on the prior year. Sports Direct, which owns 21% of Debenhams, was down 2.5%, while fellow retailers Marks & Spencer and Next were in the red. Medical inhaler group Vectura dropped as it said 2017 full year revenue should be in line with expectations, adding that a strong second half delivered closing cash and cash equivalents of around £104m net of £1.4m outflows in respect of the £15m share buyback which started in November. On the upside, NMC Health advanced after buying outstanding minority stakes in Fakih IVF and As Salama Hospital for a total of $218m. Whitbread was in the black after it appointed former ITV and Royal Mail boss Adam Crozier as its new chairman, just as City chatter swirls about a potential break-up of the Premier Inn and Costa Coffee owner. Actuator manufacturer Rotork gained as it appointed Kevin Hostetler as chief executive with effect from 12 March. |
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| | Market Movers FTSE 100 (UKX) 7,684.34 0.17%
FTSE 250 (MCX) 20,752.08 0.04%
techMARK (TASX) 3,556.88 0.07% FTSE 100 - Risers G4S (GFS) 271.50p 2.34%
NMC Health (NMC) 2,974.00p 1.85%
Standard Chartered (STAN) 788.60p 1.43%
Whitbread (WTB) 4,023.00p 1.23%
Anglo American (AAL) 1,599.00p 1.06%
Antofagasta (ANTO) 985.40p 1.05%
Glencore (GLEN) 393.68p 0.96%
TUI AG Reg Shs (DI) (TUI) 1,568.00p 0.84%
DCC (DCC) 7,505.00p 0.81%
Centrica (CNA) 140.80p 0.79% FTSE 100 - Fallers Marks & Spencer Group (MKS) 314.80p -1.78%
British Land Company (BLND) 675.60p -1.52%
Next (NXT) 4,729.00p -1.48%
ITV (ITV) 168.95p -1.14%
Croda International (CRDA) 4,416.00p -1.01%
WPP (WPP) 1,291.50p -0.88%
easyJet (EZJ) 1,519.50p -0.78%
Burberry Group (BRBY) 1,777.50p -0.67%
Ferguson (FERG) 5,328.00p -0.63%
SEGRO (SGRO) 579.60p -0.62% FTSE 250 - Risers Tullow Oil (TLW) 218.60p 2.39%
Greencore Group (GNC) 226.30p 2.31%
Kaz Minerals (KAZ) 891.20p 2.01%
Softcat (SCT) 539.00p 1.70%
Hunting (HTG) 614.50p 1.57%
Virgin Money Holdings (UK) (VM.) 287.90p 1.44%
Jupiter European Opportunities Trust (JEO) 728.23p 1.42%
Wood Group (John) (WG.) 666.60p 1.18%
Evraz (EVR) 364.20p 1.17%
Scottish Inv Trust (SCIN) 882.00p 1.15% FTSE 250 - Fallers McCarthy & Stone (MCS) 149.61p -2.72%
Sports Direct International (SPD) 383.00p -2.47%
Brown (N.) Group (BWNG) 280.20p -1.96%
Paragon Banking Group (PAG) 482.60p -1.71%
Card Factory (CARD) 290.80p -1.42%
Dairy Crest Group (DCG) 560.00p -1.41%
AA (AA.) 164.90p -1.38%
Hochschild Mining (HOC) 259.40p -1.33%
Derwent London (DLN) 3,059.00p -1.32% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks jump, PMIs show pick-up in activity fastest since 2006 Stocks have started the morning with sharp gains, riding higher on the coattails of another day of record closes on Wall Street and upbeat readings on services sector activity in China and the euro area. According to IHS Markit, service sector activity accelerated to its fastest clip in more than six-and-a-half years, leaving a composite gauge for both factory and services pointing at the highest annual trend since 2006. "A stellar end to 2017 for the Eurozone rounded off the best year for over a decade, continuing to confound widely-held fears that rising political uncertainty would curb economic growth," said Chris Williamson, chief business economist at IHS Markit. As of 0850 GMT, the benchmark Stoxx 600 was ahead by 0.52% or 2.03 points at 392.25, alongside a rise of 0.97% or 126.52 points to 13,104.57 and an advance of 1.13% or 247.04 points to 22,151.71. Meanwhile, euro/dollar was edging higher by 0.18% to 1.20342. IHS Markit's euro area services sector Purchasing Managers' Index printed at 56.6, up from a preliminary reading of 56.5 and a print of 56.2 for the month before. Similarly, the composite PMI for last month from the same survey compiler was marked up from an initial reading of 58.0 to 58.1. Acting as a backdrop, Caixin's Chinese services PMI shot up from a reading of 51.6 in November to 53.0 for December. Later in the day, at 1330 GMT the Department of Labor will release its latest initial weekly unemployment figures. Potential M&A was again dominating the corporate headlines; according to Reuters, Nestle and the private equity owners of Stada were readying bids for Merck KGaA's consumer health arm. Further north, in Germany Volkwagen was reportedly in negotiations to buy a stake in GAZ, a Russian light commercial vehicle manufacturer. |
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | Cryptocurrencies Report | | Top Cryptocurrencies | # | Name | Market Cap($) | Price(%) | Change | Price Graph(3m) | | 1 |  | Bitcoin (BTC) | 249,752,731,640 | 14,445.71 | -4.44% |  | | 2 |  | Ripple (XRP) | 141,960,371,075 | 2.87 | +5.23% |  | | 3 |  | Ethereum (ETH) | 91,776,142,229 | 918.67 | -2.47% |  | | 4 |  | Bitcoin Cash / BCC (BCH) | 39,855,006,093 | 2,357.6 | -7.81% |  | | 5 |  | Cardano (ADA) | 30,959,774,200 | 1.21 | +18.03% |  | See our full list of cryptocurrencies |
| | US Market Report | | US close: Stocks hit record highs on strong data; Fed divided over rate hikes US stocks hit records highs on Wednesday following solid data on manufacturing and construction spending, as the minutes from the Federal Reserve’s latest meeting showed officials were divided over the prospect of three rate hikes this year. The S&P 500 rose above 2,700 for the first time, closing up 0.6% at 2,713.06, while the Dow Jones Industrial Average ended just below the 25,000 mark, up 0.4% at 24,922.68 and the Nasdaq increased 0.8% to 7,065.53. Technology, energy and healthcare shares provided much of the upside. Meanwhile, the dollar was up 0.6% versus the pound at 0.7400, 0.4% higher against the euro at 0.8325 and 0.2% firmer against the yen at 112.52, buoyed by strong data releases. The Fed hiked rates last month by 0.25% - the third hike of 2017 - and minutes from the 12-13 December meeting released earlier revealed that some officials thought the three 25-basis points rate increases projected for this year might be too aggressive. The minutes also suggested that the Fed will continue to take a gradual approach to lifting rates, although this could accelerate if the pace of inflation picks up. In addition, Fed officials discussed the possibility that President Trump's tax changes could cause inflation pressures to rise. Rabobank said: "We think that core inflation will continue to remain well below the Fed's 2% target during most of 2018. Therefore, we expect only two hikes in 2018 instead of the three hikes that are implied by the dot plot. Since the third hike of last year looked like a leap of faith, we think that the Fed will skip March as an opportunity for the first hike in 2018. Instead, we expect one hike in June and another in December." Data provided some cheer as the Institute for Supply Management's headline manufacturing index rose to 59.7 in December from 58.2 in November, beating expectations for a drop to 58.1. Timothy R. Fiore, chair of the ISM, said: "This indicates growth in manufacturing for the 16th consecutive month, led by strong expansion in new orders and production with hiring growing at a slower rate and supplier deliveries continuing to struggle." A reading above 50 indicates expansion, while a reading below signals contraction. The new orders index increased to 69.4 in December from 64 the month before, marking the highest reading since January 2004, when the index came in at 70.6. Meanwhile, the employment index ticked down to 57 from 59.7 in November and the production index printed at 65.8 from 63.9 a month earlier. There was more good news on the macro front as figures from the Commerce Department revealed that construction spending rose 0.8% to an all-time high of $1.26trn in November, beating expectations for a 0.5% increase. Spreadex analyst Connor Campbell said: "The ISM reading joins yesterday's Markit PMI in suggesting the US manufacturing sector had a very strong end to 2017. This news helped lift a previously flagging dollar, with the greenback taking 0.7% back off the pound and 0.4% off the euro, allowing the currency to ease, if in no way erase, its recent woes." In corporate news, Scana surged nearly 23% as it agreed to an all-stock merger with Dominion Energy that values the group at $7.9bn. Elsewhere, MoneyGram International fell 9% after it and Ant Financial Services said they have ended their merger agreement. |
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| | Newspaper Round Up | | Thursday newspaper round-up: Fat cat pay, Poundland, Tesla, Petrobras Bosses of top British companies will have made more money by lunchtime on Thursday than the average UK worker will earn in the entire year, according to an independent analysis of the vast gap in pay between chief executives and everyone else. The chief executives of FTSE 100 companies are paid a median average of £3.45m a year, which works out at 120 times the £28,758 collected by full-time UK workers on average. – Guardian Poundland has secured up to £180m of independent financing that will reduce its reliance on its troubled South African owner Steinhoff International after bumper Christmas trading. Pepkor Europe, the European owner of Poundland, the Pep&Co clothing business and two other chains, has arranged a two-year loan facility from US investment firm Davidson Kempner Capital Management. Pepkor is owned by Steinhoff. ?" Guardian Tesla pushed back its production targets for Model 3 electric cars once again, after delivering just 1,550 of the vehicles in the last three months of the year. The delivery figures came in well below the 4,100 Model 3 sedans analysts had been expecting Tesla to deliver in the three months to Dec 31, according to data compiled by FactSet. ?" Telegraph Italian food chain Strada has moved to close more than a third of its restaurants after blaming the rising costs of running its eateries. The company said it had conducted a comprehensive review of its 26-strong estate and that it was closing 10 sites which were "no longer viable as Stradas in the increasingly competitive market", pointing to rising rents, wages and business rates as cost burdens which had become difficult to overcome. ?" Telegraph Petrobras, the Brazilian oil company mired in a corruption scandal since 2014, is to pay nearly $3 billion to American investors in one of the largest class action settlements of its kind. The state-owned company said yesterday that it had agreed to settle an action brought by investors in the United States, who claimed that they had lost money as a result of the corruption. ?" The Times The Serious Fraud Office has been accused of ignoring and "grossly misrepresenting" evidence and failing to carry out a proper investigation of an alleged fraud at Tesco, the supermarket group. Ian Winter, QC, defending John Scouler, a former Tesco executive alleged to have helped artificially inflate Tesco's 2014 profit forecast by nearly £250 million, told a jury yesterday that they should not "feel confident about the nature of this prosecution". He claimed that the SFO had not proven a single allegation against Mr Scouler because it had either "misunderstood" or "ignored" its own evidence. ?" The Times |
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