Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Tuesday, 13 February 2018 10:49:45 Monitor Quote Charts News CFD's Compare Brokers Free BB   Looking for early access to investment opportunities? Make your own informed investment decisions. Get the right tools and information at Master Investor Show 2018. Register for free today London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Stocks flat as investors eye inflation figures; Tui rallies London stocks were steady in early trade on Tuesday, with investors reluctant to make any big bets either way ahead of the release of key UK inflation data. At 0835 GMT, the FTSE 100 was flat at 7,178.84, while the pound was up 0.2% against the dollar at 1.3868 and down 0.1% versus the euro at 1.1245. Overnight, Wall Street extended the bounce that began on Friday after Donald Trump confirmed his 10-year infrastructure plan. The retail price index, producer price index and consumer price index are all due at 0930 GMT. Spreadex analyst Connor Campbell said: "After Monday’s largely unchallenged rebound, the markets face a test of their mettle this Tuesday with the release of the latest UK inflation reading. "Analyst are expecting January’s UK CPI figure to come in at 2.9%, a smidge down from December’s 3.0%. If accurate, it is going to be interesting to see how investors react to such a minor dip, namely whether or not it sparks another rapid shift lower. Though the month-on-month decline would mean inflation is moving in the right direction for those seeking to delay a Bank of England rate hike, 2.9% is still very (very) high, and arguably wouldn’t give the hawks at the central bank any reason to re-think their current positions." In corporate news, tour operator Tui was the standout gainer as it jetted off to a strong start for its financial year with sales and underlying earnings both much improved on last year. BHP Billiton was in the black after saying it would book a $1.8bn charge due to cuts in the US corporate tax rate, but that the tax reform will have a positive impact on the group's US attributable profits in the longer term. British Land edged higher as Japanese bank Sumitomo Mitsui signed a 20-year lease on 161,000 square ft at the 100 Liverpool Street redevelopment at Broadgate. Computacenter slipped as it posted the results of its tender offer, saying that just under 44.1m ordinary shares were validly tendered, with the strike price determined to be 1,170p. Smiths Group was on the up as Barclays initiated coverage of the stock at 'overweight', while Dixons Carphone was lifted by an upgrade at Cenkos. Oil giant BP edged down after a downgrade to 'equalweight' byMorgan Stanley, while Imperial Brands was hit by a downgrade to 'neutral' at Piper Jaffray. Market Movers FTSE 100 (UKX) 7,178.84 0.02% FTSE 250 (MCX) 19,386.73 0.04% techMARK (TASX) 3,251.40 -0.13% FTSE 100 - Risers TUI AG Reg Shs (DI) (TUI) 1,625.50p 1.94% Old Mutual (OML) 236.00p 1.59% Smiths Group (SMIN) 1,547.50p 1.58% Mediclinic International (MDC) 575.80p 1.48% Anglo American (AAL) 1,657.40p 0.91% Berkeley Group Holdings (The) (BKG) 3,811.00p 0.87% Glencore (GLEN) 369.80p 0.85% easyJet (EZJ) 1,626.00p 0.81% Scottish Mortgage Inv Trust (SMT) 442.57p 0.63% Direct Line Insurance Group (DLG) 383.90p 0.58% FTSE 100 - Fallers Rentokil Initial (RTO) 281.00p -1.06% Imperial Brands (IMB) 2,640.00p -0.81% CRH (CRH) 2,412.00p -0.66% Shire Plc (SHP) 3,179.00p -0.56% BT Group (BT.A) 229.30p -0.48% BP (BP.) 476.60p -0.46% Associated British Foods (ABF) 2,618.00p -0.46% AstraZeneca (AZN) 4,838.00p -0.45% Reckitt Benckiser Group (RB.) 6,379.00p -0.36% Unilever (ULVR) 3,815.50p -0.35% FTSE 250 - Risers AA (AA.) 120.50p 2.90% Millennium & Copthorne Hotels (MLC) 530.00p 2.51% Petrofac Ltd. (PFC) 429.60p 2.09% Renewi (RWI) 95.58p 2.01% Dixons Carphone (DC.) 194.45p 1.70% Kaz Minerals (KAZ) 800.40p 1.57% TI Fluid Systems (TIFS) 260.00p 1.56% Hill & Smith Holdings (HILS) 1,181.00p 1.20% Sirius Minerals (SXX) 22.40p 1.17% Card Factory (CARD) 192.10p 1.16% FTSE 250 - Fallers Acacia Mining (ACA) 157.80p -4.51% Capita (CPI) 186.75p -2.30% Fisher (James) & Sons (FSJ) 1,372.00p -2.00% RDI Reit (RDI) 34.85p -1.69% TalkTalk Telecom Group (TALK) 106.70p -1.66% Dunelm Group (DNLM) 608.00p -1.38% CYBG (CYBG) 303.60p -1.17% Cairn Energy (CNE) 186.80p -1.16% Aldermore Group (ALD) 308.00p -1.09% Entertainment One Limited (ETO) 295.00p -1.01% Atlantic Advisory - Share Tips of the Year 2018 Download Our Latest Report Here Losses can exceed deposits Week ahead: Inflation in focus, results from Tui, Galliford Try, Shire FTSE 100 Euronext Dax perf CAC 40 UK inflation data on Tuesday is especially important as markets look for data to strengthen or weaken the Bank of England's conviction to increase interest rates as early as May, with US inflation the following also under the microscope. Inflation expectations Stateside have been rising but the consumer index price data on Wednesday are expect to show core CPI data for January remains subdued when prices for fuel and food are excluded. This "might at least temporarily alleviate concerns about a monetary tightening in the US" said Allianz Global Investors global strategist Stefan Scheurer. RBC Capital Markets was looking for UK CPI inflation to have risen slightly back to 3.1% in January from 3.0% in December, which will require BoE governor to get his typewriter out again. "In our assessment, though, it is fairly finely balanced, so we would not be too surprised to see inflation remain at 3.0% y/y and that would be in line with the Bank of England’s latest short-term forecast contained in the February Inflation Report. "With the oil price having risen significantly in recent months, it now seems more likely that CPI inflation will be relatively slow to fall in 2018 even though the impact of previous exchange rate depreciation starts to fade." A second reading on European GDP on Wednesday is not expected to see any revision to the initial 0.6% rate of quarter-on-quarter growth, though Germany and Italy are also reporting their individual growth this week. The company calendar is not too busy in the UK, with a quiet Monday that has no big names scheduled but numbers from smallcap stock Pendragon; then Tuesday we are due to get prelims from Acacia Mining, quarterly results from Tuiand interims from Animalcare and Hargreaves Services; on Wednesday there should be interims from Galliford Try plus finals from Coca-Cola Hellenicand Shire; on Thursday the agenda has interims from ConvaTecalongside full-year results from Indivior, Lancashire and Relx; with Friday's only FTSE 350 results expected to be Segro's prelims. Turning to next week for commodity markets, Capital Economicssaid the lead could continue to be taken from developments in broader financial markets. "We are not expecting a significant rebound in US equities in the coming weeks, but nor do we expect the rout to continue. Away from the markets, President Trump is set to unveil the details of his $1.5trn infrastructure plan on Monday and China’s Lunar new year holiday will start on Friday." Summing up the market and macro themes in their preview of the week ahead, economists Dankse Bank said they viewed the sell-off in stocks as "a correction - the upward trend is supported by strong profit growth", with data this week adding to the picture of a robust global recovery underpinning profits, though they see bond yields as likely to increase further in February. Tuesday February 13 INTERIMS A&J Mucklow Group, Oncimmune Holdings, Pan African Resources FINALS Acacia Mining AGMS F&C Capital & Income Inv Trust, FastForward Innovations Limited, MXC Capital, Pressure Technologies, RWS Holdings, TUI AG Reg Shs (DI), Watkin Jones UK ECONOMIC ANNOUNCEMENTS Consumer Price Index (09:30) Producer Price Index (09:30) Retail Sales (09:30) Cryptocurrencies Report Top Cryptocurrencies # Name Market Cap($) Price(%) Change Price Graph(3m) 1 Bitcoin (BTC) 148,625,958,000 8,730.42 +11.12% 2 Ethereum (ETH) 84,998,910,899 860.99 +10.05% 3 Ripple (XRP) 42,720,942,725 1.05 +16.42% 4 Bitcoin Cash / BCC (BCH) 21,990,478,770 1,279 +7.27% 5 Cardano (ADA) 10,132,713,999 0.37586 +7.76% 6 Litecoin (LTC) 8,889,528,292 160.66 +13.28% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 2.67 2 SMT Scottish Mortgage Investment Trust 2.60 3 BP. BP Plc 2.52 4 GSK GlaxoSmithKline plc 1.96 5 LGEN Legal & General Group plc 1.77 6 RDSB Royal Dutch Shell Plc B Shares 1.53 7 CPI Capita plc 1.48 8 VOD Vodafone Group plc 1.45 9 SOPH Sophos Group plc 1.33 10 NG. National Grid 1.14 Number of Deals Sold Place EPIC Equity name % 1 SMT Scottish Mortgage Investment Trust 1.68 2 LLOY Lloyds Banking Group plc 1.57 3 IQE IQE plc 1.34 4 RMG Royal Mail PLC 1.21 5 CPI Capita plc 1.09 6 GSK GlaxoSmithKline plc 0.95 7 SOPH Sophos Group plc 0.92 8 RDSB Royal Dutch Shell Plc B Shares 0.80 9 PFC Petrofac 0.77 10 BOO Boohoo.com 0.76 US Market Report Wall Street's main indexes finished the session higher on Monday, extending the bounce that began late on Friday, driven by technology and financial issues as stocks did their best to recover from their worst week since 2016. The Dow Jones Industrial Average finished up 1.7% at 24,601.27, the S&P 500 added 1.39% to 2,656.00, and the Nasdaq 100 was ahead 1.73% at 6,523.85. At the same time, the Chicago Board of Options Exchange's volatility index was down 11.87% at 25.61. “There are no major data points due, but after worries about inflation and rising interest rates prompted a selloff in equity markets last week, investors will be eyeing the release of the consumer price index for January on Wednesday,” noted SpreadEx financial analyst Connor Campbell earlier. “Economists expect headline inflation to rise 0.3%, while core inflation - which excludes food and energy costs - is seen edging up 0.2%.” Investors were also busy sifting through the Trump administration’s freshly-released 10-year infrastructure plan, with early criticism centred on the slashing of funding for transportation projects in largely Democratic states. According to Politico, a quarter of the $200bn funding would go to rural areas for projects including airports, broadband, highways and sewers. However, the online news outlet pointed out that only 14% of the US population lives outside its metropolitan areas, leaving major transport projects - including rail projects in California and the New York-New Jersey urban area. Of the money not destined for rural projects, $20bn was earmarked for so-called “transformative” projects designed to “lift the American spirit” - though exactly how was not quite defined. “Along with healthcare and tax reform, this was a key election pledge,” commented Rabobank's senior FX strategist Jane Foley. “Trump is scheduled to host both Democrat and Republican leaders at the White House on Wednesday to discuss the way forward for the proposals. “The White House plan marks only a starting point for an infrastructure overhaul.” Foley added that the plan faced a “difficult path” given the deeply divided Senate, and congressional elections later in the year. In corporate news, shares in government IT business CSRArocketed 31.05% after it agreed to be bought out by General Dynamics for $9.6bn, and shares in Ryder System edged ahead 2.26% after announcing it would lift its quarterly dividend by 13% to $0.52 per share thanks to the boost to earnings as a result of recent changes to the US tax system. Iconix shares rose 38.4%, after it unveiled a cost savings plan alongside its new deal with retail giant Target, while Cisco Systems nudged ahead 2.71% after having its stock upgraded to 'buy' from 'neutral' by analysts at Instinet. Elsewhere, front month West Texas Intermediate was up by 0.19% to $59.31 per barrel, after OPEC raised its crude supply forecasts for this year, saying that strengthening global demand would continue to help eat up the excess supply of crude reserves. The cartel added that supplies from producers outside OPEC would increase around 1.4m barrels a day throughout 2018 – with 1.3m barrels a day of the growth to come from the US itself. Dow Jones - Risers American Express Co. (AXP) $94.64 7.20% Dowdupont Inc. (DWDP) $71.86 5.32% Caterpillar Inc. (CAT) $152.29 4.32% Apple Inc. (AAPL) $162.71 4.03% Boeing Co. (BA) $343.61 3.22% Goldman Sachs Group Inc. (GS) $253.16 2.76% Cisco Systems Inc. (CSCO) $40.60 2.71% International Business Machines Corp. (IBM) $151.43 2.62% General Electric Co. (GE) $14.82 2.56% Unitedhealth Group Inc. (UNH) $225.61 2.14% Dow Jones - Fallers Walmart Inc. (WMT) $99.55 0.18% Verizon Communications Inc. (VZ) $50.11 0.46% Johnson & Johnson (JNJ) $130.23 0.54% Nike Inc. (NKE) $65.96 0.75% Travelers Company Inc. (TRV) $138.13 0.77% Exxon Mobil Corp. (XOM) $76.42 0.84% Merck & Co. Inc. (MRK) $55.43 1.02% Microsoft Corp. (MSFT) $89.13 1.08% Pfizer Inc. (PFE) $34.66 1.43% Chevron Corp. (CVX) $113.98 1.50% S&P 500 - Risers Csra Inc. (CSRA) $40.40 30.92% Frontier Communications Co. (FTR) $7.64 12.19% American Express Co. (AXP) $94.64 7.20% Alexion Pharmaceuticals Inc. (ALXN) $115.43 6.29% Emerson Electric Co. (EMR) $70.31 5.89% United States Steel Corp. (X) $36.22 5.78% FMC Corp. (FMC) $85.22 5.38% Agilent Technologies Inc. (A) $68.43 5.20% Marathon Oil Corp. (MRO) $16.28 4.96% Discover Financial Services (DFS) $75.93 4.90% S&P 500 - Fallers Chipotle Mexican Grill Inc. (CMG) $254.38 -4.35% Dollar Tree Inc (DLTR) $104.74 -2.68% Ball Corp (BLL) $37.53 -2.37% Amerisource Bergen Corp. (ABC) $89.45 -2.29% Ventas Inc. (VTR) $50.44 -2.19% Wynn Resorts Ltd. (WYNN) $162.92 -1.99% SCANA Corp. (SCG) $35.65 -1.79% Nvidia Corp. (NVDA) $228.03 -1.75% Kroger Co. (KR) $27.19 -1.70% TripAdvisor Inc. (TRIP) $37.71 -1.57% Nasdaq 100 - Risers Alexion Pharmaceuticals Inc. (ALXN) $115.43 6.29% Mercadolibre Inc. (MELI) $353.45 5.24% CSX Corp. (CSX) $53.16 4.46% Micron Technology Inc. (MU) $42.19 4.40% Lam Research Corp. (LRCX) $172.95 4.27% Apple Inc. (AAPL) $162.71 4.03% Shire Plc Ads (SHPG) $132.27 3.80% Broadcom Limited (AVGO) $244.40 3.78% Biomarin Pharmaceutical Inc. (BMRN) $83.26 3.67% American Airlines Group (AAL) $50.09 3.58% Nasdaq 100 - Fallers Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $209.48 -4.15% Dollar Tree Inc (DLTR) $104.74 -2.68% Wynn Resorts Ltd. (WYNN) $162.92 -1.99% T-Mobile Us, Inc. (TMUS) $58.12 -1.82% Nvidia Corp. (NVDA) $228.03 -1.75% Fastenal Co. (FAST) $52.84 -1.20% Expedia Inc. (EXPE) $102.82 -1.13% Hasbro Inc (HAS) $96.63 -1.13% Celgene Corp. (CELG) $91.51 -1.08% O'Reilly Automotive Inc. (ORLY) $248.24 -0.63% Looking for early access to investment opportunities? Make your own informed investment decisions. Get the right tools and information at Master Investor Show 2018. Register for free today Tuesday newspaper round-up: Carillion, Trump, RBS, algos MPs have accused the “big four” accountancy firms of “feasting on what was soon to become a carcass” as it emerged they banked £72m for work linked to collapsed government contractor Carillion in the years leading up to its financial failure. Less than a fortnight before Carillion’s auditor KPMG is due to face questions from MPs on two select committees, the accountant and rivals Deloitte, EY and PricewaterhouseCoopers (PwC) submitted evidence to the inquiry. – Guardian Donald Trump unveiled a $200bn plan to fix America’s crumbling infrastructure – a plan that falls woefully short of the trillions civil engineers say is needed to rebuild the country’s tattered backbone and is likely to face intense opposition from Democrats and Republicans. Trump said in a statement: “We will build gleaming new roads, bridges, highways, railways, and waterways all across our land. And we will do it with American heart, and American hands, and American grit.” – Guardian Major energy suppliers may be stripped of the right to challenge an unfair energy price cap after a group of MPs suggested an appeal process could be used as a delaying tactic. The parliamentary committee for business defied regulatory convention by saying energy companies should not be allowed to appeal the regulator’s set price for standard energy tariffs with the Competition and Market Authority. – Telegraph  A Network Rail body will add an extra layer of scrutiny to new rail franchise bids to make sure that plans by operators are workable, in the wake of the collapse of the East Coast mainline contract. The recently launched body, called the System Operator, will sit within Network Rail and is likely to have a busy few years with new contracts set to start on East Midlands and Southeastern in 2019 and on the West Coast mainline in 2020. – Telegraph The City regulator’s shambolic handling of its investigation into Royal Bank of Scotland’s restructuring unit took an anarchic twist last night as the confidential report was leaked online. The highly sensitive 361-page document was sent initially to more than 500 members of a group who want to sue RBS over the activities of its Global Restructuring Group, which mistreated thousands of companies. – The Times Banks and hedge funds have been ordered to tighten their controls over computer-driven trading, only days after algorithmic trades were blamed for exacerbating stock market falls in the Wall Street sell-off. The Bank of England and the Financial Conduct Authority each issued papers yesterday aimed at forcing firms into improved procedures to guard against computer-driven crashes and market abuse. – The Times   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.   To advertise in the Euro Markets Bulletin please contact advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49