Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Friday, 02 February 2018 10:18:08 Monitor Quote Charts News CFD's Compare Brokers Free BB   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. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks edge lower ahead of payrolls; BT, AstraZeneca in focus London stocks edged lower in early trade on Friday as investors eyed a key reading on the UK construction sector and the release of the US non-farm payrolls report, with earnings from BT and AstraZeneca in focus. At 0840 GMT, the FTSE 100 was off 0.2% to 7,477.57, following a mixed performance on Wall Street overnight and with the pound down 0.2% versus the euro in the morning to 1.1380 and 0.1% weaker against the dollar at 1.4248. Traders were looking ahead to the UK construction purchasing managers' index at 0930 GMT, with the non-farm payrolls report at 1330 GMT, along with the unemployment rate and average hourly earnings. The Michigan consumer sentiment index is at 1500 GMT. Analyst Michael Hewson at CMC Markets said: "Today's US payrolls report for January isn't expected to undermine the case for higher rates with expectations of an improvement on a disappointing December report of 148k, with a rise to 180k predicted in spite of a strong ADP report earlier in the week. Unemployment is expected to stay at 4.1%. "It is in the wages data that we could see some further movement. We've already seen average hourly earnings move up to 2.5% in December, and further gains are expected in the January numbers with a rise to 2.6% predicted." The UK construction PMI for January is expected to soften a little from 52.2 to 52.0, although recent events surrounding collapsed Carillion could drag it down further as the sector goes through a difficult time. In corporate news, BT shares fell as it said third quarter revenues declined 3% to £5.9bn and adjusted earnings were 2% lower to £1.8bn, reflecting investment in mobile devices and customer experience, along with higher business rates and pension costs, partly offset by cost savings. AstraZeneca fell as news of a US legal dispute with Array BioPharma overshadowed its solid full year results, where total revenue was down 2% last year and core earnings per share down just 1%, having a year ago warned of a potential fall in the mid-teens. National Grid ticked down as it said that US tax changes were "significantly positive" for its US customers and economically neutral for the company itself. On the upside, Provident Financial advanced as it made Malcolm Le May its permanent chief executive, with the banking veteran having last year been appointed executive chairman on temporary basis. Cobham rose after saying it has entered a conditional agreement to divest its AvComm and Wireless test and measurement businesses to Viavi Solutions Inc. for $455m in cash (around £325m). FTSE 250 engineering group Meggitt edged up after receiving a $26m contract to provide thermal management systems to General Dynamics Land Systems for its main battle tank, the M1 Abrams. Oil industry engineer Wood Group rallied as it said it would book a one-off full year non-cash credit as a result of recent US tax changes, while Vedanta Resources gained a little ground after it said that earnings and revenue in the third quarter rose. Mediclinic was the top gainer after Barclays reinstated coverage of the stock at 'overweight', while NMC Health followed closed behind as Barclays rated the stock a new 'overweight'. DS Smith was also boosted by an upgrade to 'hold' at Goodbody Stockbrokers. Britvic was upgraded to 'overweight' at JPMorgan and Capita was upgraded to 'equalweight' at Morgan Stanley, but Royal Mail was downgraded to 'hold' by HSBC. Leeds City Centre Apartments Invest in the UK’s number 1 property hotspot Priced from just £124,995  Fully managed, 6.5% NET yields Only 33 Units available, Expected to sell out within weeks Find Out More Market Movers FTSE 100 (UKX) 7,477.57 -0.17% FTSE 250 (MCX) 20,176.24 -0.05% techMARK (TASX) 3,377.49 -0.42% FTSE 100 - Risers Mediclinic International (MDC) 601.80p 1.66% Smurfit Kappa Group (SKG) 2,562.00p 1.18% Antofagasta (ANTO) 932.60p 1.17% NMC Health (NMC) 3,308.00p 1.04% Rolls-Royce Holdings (RR.) 878.80p 0.78% Fresnillo (FRES) 1,358.50p 0.70% Smith (DS) (SMDS) 506.40p 0.64% Rio Tinto (RIO) 3,953.00p 0.61% BP (BP.) 504.40p 0.58% Royal Dutch Shell 'B' (RDSB) 2,446.50p 0.58% FTSE 100 - Fallers BT Group (BT.A) 248.00p -3.12% AstraZeneca (AZN) 4,784.00p -2.09% ITV (ITV) 170.55p -1.33% Johnson Matthey (JMAT) 3,394.00p -1.16% Compass Group (CPG) 1,467.00p -0.88% GlaxoSmithKline (GSK) 1,299.00p -0.81% International Consolidated Airlines Group SA (CDI) (IAG) 641.60p -0.80% Old Mutual (OML) 234.90p -0.80% Carnival (CCL) 4,943.00p -0.78% Barratt Developments (BDEV) 580.60p -0.68% FTSE 250 - Risers Capita (CPI) 169.50p 6.87% Purecircle Limited (DI) (PURE) 440.00p 3.77% Wood Group (John) (WG.) 671.20p 3.36% Britvic (BVIC) 753.00p 3.29% Ocado Group (OCDO) 533.80p 2.93% Hunting (HTG) 645.68p 1.92% Stobart Group Ltd. (STOB) 245.12p 1.92% Tullow Oil (TLW) 204.80p 1.84% Petrofac Ltd. (PFC) 547.06p 1.61% Brown (N.) Group (BWNG) 204.60p 1.59% FTSE 250 - Fallers IWG (IWG) 221.20p -2.68% AA (AA.) 129.30p -2.34% PZ Cussons (PZC) 302.00p -1.95% Convatec Group (CTEC) 191.61p -1.94% Royal Mail (RMG) 486.80p -1.91% Babcock International Group (BAB) 669.20p -1.59% Intermediate Capital Group (ICP) 1,160.00p -1.36% Drax Group (DRX) 247.80p -1.35% Grainger (GRI) 283.00p -1.26% Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Deutsche Bank, weaker Wall St pull Stoxx 600 lower European shares opened lower on Friday as investors reacted to a third successive full year loss from Deutsche Bank and a weaker Wall Street session overnight. The pan-European Stoxx 600 index was off 1.78 points to 391.6. All European bourses were down at 0830 GMT. Deutsche Bank shares led the fallers after the German lender posted a worse-than-expected net loss of €2.2bn in the fourth quarter of 2017. Full year losses were €497m against expectations of a €290m. Investors in Germany were also unsettled as industrial workers started a third day of 24-hour strikes over pay and working hours with workers at carmakers including Mercedes-Benz, Porsche Volkswagen and Ford all expected to stay off the job on Friday. In corporate news, shares in AstraZeneca also fell as the drug maker reported total revenue down 2% last year and core earnings per share down just 1%, having a year ago feared a fall in the mid-teens, but news of a US lawsuit rained on the parade somewhat. Telecoms-to-television outfit BT shares were lower as the firm reported worse-than-expected third quarter revenues and adjusted profits as investment on mobile devices, higher business rates and pension costs all took a toll. Adjusted revenue fell 2% to £5.9bn and adjusted earnings were 2% lower to £1.8bn against expectations of a 0.6% decline in to £6,068m, 1.7% to £1,838m. Oil industry engineer Wood Group shares were in the black as the firm said it would book a one-off full year non-cash credit as a result of recent US tax changes. The company said the cash impact of the cut in the headline US federal rate to 21% was likely to be offset by greater restriction on the level of interest deduction allowed in the US also introduced by the legislation. 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 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 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. Cryptocurrencies Report Top Cryptocurrencies # Name Market Cap($) Price(%) Change Price Graph(3m) 1 Bitcoin (BTC) 190,773,058,196 8,544 -7.23% 2 Ethereum (ETH) 116,198,773,627 896.19 -13.75% 3 Ripple (XRP) 51,937,181,375 0.78072 -18.35% 4 Bitcoin Cash / BCC (BCH) 28,488,145,957 1,135.1 -11.39% Atlantic Advisory - Share Tips of the Year 2018 Download Our Latest Report Here Losses can exceed deposits US Market Report US close: Shares mixed as inflation worries kick in Rising US bond yields prompted by concerns over inflationary pressures kept the lid on shares on Thursday. The Dow Jones Industrial Average rose 37.32 points, or 0.14%, to close at 26,186, while the S&P 500 fell 1.83 points to 2,821 and the Nasdaq was 25.62 points lower to 7,385. The benchmark 10 year Treasury bond yield rose to 2.78% as worries over inflation increased after the Fed said it expected prices to rise this year, effectively preparing the ground for an interest rate rise next month. Investors were also wary ahead of the jobs report on Friday, looking for any sign of the unemployment rate falling below 4% and rising wages, both of which could lead to higher prices. Investors did find some cheer in economic data as figures from the Labor Department showed the number of Americans filing for unemployment benefits fell last week. US initial jobless claims declined by 1,000 to 230,000 from the previous week's level, which was revised down from 233,000. Economists had been expecting a jump to 238,000. The four-week moving average came in at 234,500, down 5,000 from the previous week's average, which was revised down by 500. Meanwhile, Markit's manufacturing purchasing managers' index came in at 55.5 in January, unchanged from the previous month and ahead of expectations for a drop to 54.9. The Institute for Supply Management's manufacturing index fell to 59.1 from 59.3 in December, but was ahead of expectations for a reading of 58.6. Capital Economics said: "The small decline in the ISM manufacturing index in January still left the index well above historical averages and consistent with GDP growth of over 4% annualised. With domestic demand receiving a boost from tax cuts and external demand buoyed by strong growth overseas and a depreciating dollar, prospects for the manufacturing sector in 2018 look bright." Figures on construction spending also beat estimates. According to the Commerce Department, spending was up 0.7% to an all-time high of $1.25trn in December, versus expectations for a 0.4% increase. There was no shortage of corporate news for investors to sink their teeth into either, with some heavyweight firms reporting. Shares in Amazon bounced into the black surged in after-hours trade as the company's fourth quarter results beat expectations, with net income up to $1.86 bn, or $3.75 a share, from $749m, or $1.54 a share year-on-year. Recent US tax cuts provided a one-off benefit of $789m. Alphabet shares took a tumble after the bell as the company missed fourth quarter earnings estimates. The company reported fourth-quarter losses of $3.02bnbn a year earlier. It also revealed that its effective tax rate soared to 138% from 22% as it booked a tax expense of $9.9bn due to tax code changes in tax code. Revenue beat forecasts, rising to $32.32bn from $26.06bn. Ebay surged following better-than-expected quarterly earnings late on Wednesday and after the company said it plans to take over payment-processing duties from PayPal. Shares in PayPal tumbled on the news, however. Elsewhere, social media group Facebook was also in the black after solid fourth-quarter results, while shares in software company Microsoft were up after its quarterly earnings late on Wednesday surpassed expectations. Time Warner advanced after reporting a 9% increase in fourth-quarter revenue, while Mastercard rose after its fourth-quarter profit and revenue exceeded analysts' expectations. Alibaba fell after its quarterly revenue beat expectations but earnings fell short, while medical device maker Boston Scientific and DowDuPont also declined after quarterly updates. Ralph Lauren shares were weaker after the company's sales fell more than expected in the third quarter. Dow Jones - Risers Exxon Mobil Corp. (XOM) $88.86 1.79% Walt Disney Co. (DIS) $110.45 1.64% Goldman Sachs Group Inc. (GS) $271.13 1.21% Johnson & Johnson (JNJ) $139.38 0.86% JP Morgan Chase & Co. (JPM) $116.35 0.58% Boeing Co. (BA) $355.82 0.41% Visa Inc. (V) $124.69 0.37% McDonald's Corp. (MCD) $171.77 0.37% American Express Co. (AXP) $99.77 0.36% Verizon Communications Inc. (VZ) $54.22 0.28% Dow Jones - Fallers Dowdupont Inc. (DWDP) $73.48 -2.78% Microsoft Corp. (MSFT) $93.68 -1.41% 3M Co. (MMM) $247.12 -1.35% Intel Corp. (INTC) $47.53 -1.28% General Electric Co. (GE) $15.98 -1.14% Nike Inc. (NKE) $67.46 -1.11% Walmart Inc. (WMT) $105.45 -1.08% International Business Machines Corp. (IBM) $161.99 -1.04% Pfizer Inc. (PFE) $36.74 -0.80% Unitedhealth Group Inc. (UNH) $234.91 -0.79% S&P 500 - Risers Qorvo, Inc. (QRVO) $82.90 15.51% eBay Inc. (EBAY) $46.14 13.70% Skyworks Solutions Inc. (SWKS) $103.00 5.96% AT&T Inc. (T) $39.10 4.42% Eaton Corporation plc (ETN) $87.50 4.20% AbbVie Inc (ABBV) $116.32 3.66% Mondelez International Inc. (MDLZ) $45.87 3.31% Facebook Inc. (FB) $193.01 3.28% Newell Brands Inc (NWL) $27.27 3.14% Lincoln National Corp. (LNC) $85.38 3.12% S&P 500 - Fallers Tractor Supply Company (TSCO) $70.09 -8.08% Paypal Holdings Inc (PYPL) $78.61 -7.86% United Parcel Service Inc. (UPS) $118.82 -6.68% Hershey Foods Corp. (HSY) $103.35 -6.33% Regeneron Pharmaceuticals Inc. (REGN) $345.61 -5.74% Eversource Energy (ES) $59.89 -5.07% Altaba Inc. (AABA) $75.95 -4.92% SCANA Corp. (SCG) $38.86 -4.40% Parker-Hannifin Corp. (PH) $193.01 -4.18% Xerox Corp. (XRX) $32.74 -4.09% Nasdaq 100 - Risers eBay Inc. (EBAY) $46.14 13.70% Skyworks Solutions Inc. (SWKS) $103.00 5.96% Idexx Laboratories Inc. (IDXX) $193.29 3.34% Mondelez International Inc. (MDLZ) $45.87 3.31% Facebook Inc. (FB) $193.01 3.28% Biomarin Pharmaceutical Inc. (BMRN) $92.69 2.73% Wynn Resorts Ltd. (WYNN) $169.97 2.65% Shire Plc Ads (SHPG) $142.09 1.46% Hasbro Inc (HAS) $95.66 1.15% Ctrip.Com International Ltd. Ads (CTRP) $47.26 1.02% Nasdaq 100 - Fallers Paypal Holdings Inc (PYPL) $78.61 -7.86% Cadence Design Systems Inc. (CDNS) $42.00 -6.38% Regeneron Pharmaceuticals Inc. (REGN) $345.61 -5.74% Vodafone Group Plc ADS (VOD) $30.77 -4.48% Broadcom Limited (AVGO) $238.20 -3.96% JD.com, Inc. (JD) $47.41 -3.70% Amazon.Com Inc. (AMZN) $1,400.19 -3.49% Micron Technology Inc. (MU) $42.26 -3.34% Automatic Data Processing Inc. (ADP) $119.69 -3.19% 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 Friday newspaper round-up: Bitcoin, Apple, Woodford, Chappell The UK’s food regulators are launching nationwide review of all meat cutting plants in the wake of “serious incidents” at 2 Sisters Food Group and Russell Hume. The announcement comes days after the Food Standards Agency was criticised by a committee of MPs for failing to take “definite action” to improve food standards following a Guardian and ITV undercover investigation last year. – Guardian Bitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history. The slide extended further on Thursday after the Indian government said it would ban all cryptocurrency trading and Facebook announced a ban on digital currency adverts. Bitcoin fell by more than 10%, dropping below $9,000, marking a sharp reverse from its peak of almost $20,000 just before Christmas. ?" Guardian Apple has posted the biggest quarterly profit of all time despite a fall in iPhone sales. The world's biggest company posted profits of $20.1bn (£14bn) in the crucial final three months of the year, breaking its own record set two years ago. It came after the release of the £999 iPhone X in November, the biggest update of the handset to date, as well as the release of the iPhone 8 in September. - Telegraph Troubled doorstop lender Provident Financial is expected to name its acting chairman, Malcolm Le May, as its new chief executive on Friday, after more than five months with no-one in the position. Mr Le May only took up the post of acting chairman in late November, following the sudden death of Manjit Wolstenholme aged 53, prior to which he served as senior independent director. ?" Telegraph One of the City's most prominent fund managers appears to have been wrong-footed by Capita suspending its dividend, having been bullish after a recent meeting with the outsourcing company's new boss. Woodford Investment Management, which has suffered a series of setbacks on its investments, told its followers a fortnight ago that "with a new chief executive now in place, clearly that eventuality [a dividend cut] cannot be completely ruled out, but having met Jon Lewis [Capita's boss] during the month, we are reassured that decisions around capital structure and the dividend will be informed by a clearer long-term strategy for the business, something we expect to hear more about". ?" The Times Dominic Chappell, the former owner of BHS, has been issued with a £10 million bill by the Pensions Regulator as officials seek to claw back money for the failed retailer's pension schemes. The regulator has served a determination notice formally notifying Mr Chappell, a former bankrupt, that it is seeking the money and that he has 28 days to appeal. ?" The Times   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