Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 22 February 2018 09:53:29 Monitor Quote Charts News CFD's Compare Brokers Free BB   Get Your FREE Weekly Bitcoin Newsletter From Guardian Stockbrokers Click Here To Subscribe For FREE Today All trading involves risk. Losses can exceed deposits. London open: Stocks drop after Fed minutes; Barclays and Centrica buck trend FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London stocks fell in early trade on Thursday, tracking weakness on Wall Street and in Asia after the latest Federal Reserve minutes revealed that the US central bank wants to keep lifting short-term interest rates gradually this year, as investors waded through a deluge of corporate releases. At 0845 GMT, the FTSE 100 was down 0.9% to 7,217.65, while the pound was flat against the dollar and the euro at 1.3916 and 1.1327, respectively. Spreadex analyst Connor Campbell said: "A jittery first half of the week got a lot bloodier on Wednesday night, as the latest Federal Reserve meeting minute reignited the market’s fear of rising interest rates." The FOMC minutes indicated that “a majority of participants noted that a stronger outlook for economic growth raised the likelihood that further gradual policy firming would be appropriate”. Jim Reid at Deutsche Bank noted that US yields jumped after the release of the minutes, when they had been flat and the S&P 500 up around 1% but by the close 10-year US Treasury yields had risen 6bps to 2.951% and the S&P 500 closed at its lowest level in a week. "Notably, the relatively hawkish minutes was before the January wage growth and CPI / PPI prints, so it seems reasonable to assume that if the Fed was getting more confident in their growth and inflation outlook at their meeting, the subsequent data releases would have only added to their views," he said. On the data front, fourth-quarter UK GDP is due to be released at 0930 GMT, while the CBI distributive trades survey is at 1100 GMT. In corporate news, British American Tobacco retreated even as it reported on what it claimed was a record year, with its "transformational" acquisition of Reynolds American leading to a 37.6% surge in revenue to £20.29bn. BAE Systems was weaker after saying it expects profits for 2018 to be flat, while recruiter Hays fell even as it said interim profit rose 18% on the back of strong growth in its international markets and good cost control in the UK. Moneysupermarket.com tumbled as its full-year earnings and revenue missed expectations and Kaz Minerals was in the red despite reporting a rise in full-year profit as its numbers missed across the board. Safestore was on the back foot as it reported a 9.8% rise in first-quarter revenues, while gambling software development company Playtech tanked after its full-year results fell short, with growth rates slowing from 2016. Bucking the trend, Barclays rallied as it declared its intention to more than double dividend payouts in 2018 to 6.5p per share after lower costs helped lift profits last year. Centrica rose despite reporting a weak second half in its UK business due to falling customer numbers, as a possible government-imposed price cap led to a 17% fall in adjusted operating profits to £1,252m. RSA Insurance gained as it posted a jump in full-year profit and bumped up its dividend as a strong performance in Scandinavia, Canada, the Middle East and Ireland helped to offset a poor showing the UK. Serco racked up strong gains as the outsourcer's 2017 results beat analysts' expectations, while transport group Go-Ahead surged as its first-half operating profit beat forecasts. Rathbone Brothers edged up as the wealth and investment manager said pre-tax profit was up nearly 18% in the year to 31 December 2017. GlaxoSmithKline, Diageo, Carnival, HSBC and Imperial Brandswere among the companies whose stock went ex-dividend. In broker note action, Rotork and Weir were lifted to 'hold' from 'underperform' at Jefferies, while TalkTalk was cut to 'hold' from 'buy' at HSBC.   Market Movers FTSE 100 (UKX) 7,217.65 -0.88% FTSE 250 (MCX) 19,646.32 -0.72% techMARK (TASX) 3,329.70 -0.51% FTSE 100 - Risers Barclays (BARC) 213.35p 5.57% RSA Insurance Group (RSA) 627.60p 2.38% Centrica (CNA) 135.25p 2.31% Shire Plc (SHP) 3,025.50p 1.12% Royal Bank of Scotland Group (RBS) 279.50p 0.76% Admiral Group (ADM) 1,910.50p 0.71% Direct Line Insurance Group (DLG) 392.60p 0.69% 3i Group (III) 934.60p 0.47% United Utilities Group (UU.) 664.20p 0.30% Legal & General Group (LGEN) 261.20p 0.23% FTSE 100 - Fallers British American Tobacco (BATS) 4,268.00p -4.09% Anglo American (AAL) 1,736.00p -3.37% Imperial Brands (IMB) 2,583.50p -3.09% Barratt Developments (BDEV) 554.40p -2.29% HSBC Holdings (HSBA) 731.40p -2.13% Evraz (EVR) 419.40p -1.92% Intertek Group (ITRK) 4,917.00p -1.90% Antofagasta (ANTO) 885.20p -1.86% Mondi (MNDI) 1,891.50p -1.82% GlaxoSmithKline (GSK) 1,301.52p -1.74% FTSE 250 - Risers Go-Ahead Group (GOG) 1,542.90p 15.31% AA (AA.) 87.12p 4.24% Serco Group (SRP) 94.75p 4.18% Coats Group (COA) 75.30p 2.45% Vectura Group (VEC) 75.50p 1.62% Jardine Lloyd Thompson Group (JLT) 1,320.00p 1.54% Mitie Group (MTO) 159.70p 1.20% Fidessa Group (FDSA) 3,795.00p 1.20% Weir Group (WEIR) 2,043.00p 1.14% Ted Baker (TED) 3,040.00p 1.06% FTSE 250 - Fallers Moneysupermarket.com Group (MONY) 255.30p -22.35% Playtech (PTEC) 698.60p -9.79% Kaz Minerals (KAZ) 780.60p -4.29% Hays (HAS) 196.60p -3.91% NewRiver REIT (NRR) 305.00p -3.02% FirstGroup (FGP) 82.05p -2.78% CYBG (CYBG) 293.80p -2.72% Spire Healthcare Group (SPI) 240.00p -2.68% Hochschild Mining (HOC) 204.30p -2.67% Inmarsat (ISAT) 447.40p -2.53% Crypto Pizza Evening with Clem Chambers, CEO of Online Blockchain In May 2010, programmer Laszlo Hanyecz bought two pizzas from Papa Johns for 10,000 bitcoins. Had he kept the coins, as of today they would be worth a cool $86,000,000. Join us on Wednesday 14 March for a crypto pizza 'Bite' on Clem Chambers, the CEO of the first London-listed British blockchain company - Click Here To Register For Free  Market Analysis 22/02/2018 Today’s highlights: Fed minutes push global markets down Wall Street closes lower: A volatile session in the US yesterday, as leading indices started the day with sharp gains, but eventually closed lower. The trend reversal occurred following the release of minutes from the latest FOMC meeting, which showed the Fed could be planning more rate hikes. Despite the negative momentum, some stocks continued to show gains, such as Domino’s Pizza, which climbed more than 4% to reach a new all-time high. Asia follows Wall Street’s lead: Top indices in Asia, such as the Nikkei and China50, were seen lower this morning. Read More... US close: Markets fall as Fed hints at rate hikes Wall Street stocks finished lower on Wednesday, after the minutes from the latest Federal Reserve policy meeting suggested more interest rate hikes are on the way. The Dow Jones Industrial Averagefell 0.67% to 24,797.78, the S&P 500lost 0.55% to 2,701.33, and the Nasdaq 100 slipped 0.3% to 6,759.26. In the minutes from the Federal Open Market Committee’s January meeting, members revised their December economic forecasts upwards from December. And despite not raising target rates at the meeting - chair Janet Yellen’s last - they did clearly suggest that the path ahead was for higher interest rates. “A majority of participants noted that a stronger outlook for economic growth raised the likelihood that further gradual policy firming would be appropriate,” the summary of the minutes read. It said almost all participants saw inflation hitting the Federal Reserve’s 2% goal in the medium term, as growth remained above trend and the labour market retained its strength. Following the release of the minutes came two fresh official readings on wages and prices, with hourly wages increasing 2.9 and the consumer price index ahead an unexpectedly strong 0.5%. Both of those numbers only added to the Fed-induced volatility in the final hours of trade. Earlier in the session, macro data showed continued strength in the US economy, with IHS Markit's flash manufacturing purchasing managers' index for February rising to a three-and-a-half-year high of 55.9 from 55.5, while a similar services barometer posted a climb from 53.3 to 55.9. "Business activity growth accelerated markedly in February, suggesting the economy is growing at its fastest pace for over two years," said Chris Williamson, chief business economist at IHS Markit. "Even faster growth is signalled for coming months." Elsewhere, existing-home sales came in at a seasonally adjusted annual pace of 5.38m in January, according to the National Association of Realtors, as sales of previously-owned homes slid 3.2% in January. It was the second consecutive monthly decline, with sales as a whole coming in 4.8% lower than twelve months earlier, the steepest annual decline in more than three years. "Realtors in most areas are saying buyer traffic is even stronger than the beginning of last year," said Lawrence Yun, NAR's chief economist. However, "sales failed to follow course and far lagged last January's pace.” “It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth." In corporate news, Dish Network was off 3.12% despite posting a big rise in fourth-quarter profit. Retailer Walmart was off 2.75%, seemingly continuing on from heavy losses in the previous session when it reported a weaker-than-expected fourth-quarter profit. Foot Locker gained 0.52% after saying late on Tuesday that it was lifting its quarterly cash dividend and cutting its yearly capital expenditure programme. LendingClub lost 5.57% after its fourth-quarter adjusted earnings and sales released late on Tuesday fell short of analysts' expectations. Dow Jones - Risers McDonald's Corp. (MCD) $158.64 0.54% JP Morgan Chase & Co. (JPM) $115.19 0.44% American Express Co. (AXP) $97.48 0.30% United Technologies Corp. (UTX) $129.18 -0.06% Caterpillar Inc. (CAT) $155.22 -0.22% Boeing Co. (BA) $352.24 -0.31% Apple Inc. (AAPL) $171.07 -0.45% Goldman Sachs Group Inc. (GS) $263.40 -0.56% International Business Machines Corp. (IBM) $153.96 -0.77% Intel Corp. (INTC) $45.94 -0.82% Dow Jones - Fallers Walmart Inc. (WMT) $91.52 -12.66% Verizon Communications Inc. (VZ) $47.96 -4.37% Coca-Cola Co. (KO) $43.34 -3.65% Merck & Co. Inc. (MRK) $54.55 -3.09% Procter & Gamble Co. (PG) $80.21 -2.86% Johnson & Johnson (JNJ) $129.91 -2.43% Exxon Mobil Corp. (XOM) $74.89 -2.16% Home Depot Inc. (HD) $183.06 -1.95% 3M Co. (MMM) $232.18 -1.90% Travelers Company Inc. (TRV) $138.53 -1.86% S&P 500 - Risers Noble Energy Inc. (NBL) $29.13 10.84% Advance Auto Parts (AAP) $114.00 8.21% Mosaic Company (MOS) $27.46 7.98% Mattel Inc. (MAT) $17.02 3.34% Expeditors International Of Washington Inc. (EXPD) $63.99 3.33% Robert Half International Inc. (RHI) $57.56 2.44% United Rentals Inc. (URI) $171.93 2.31% Verisk Analytics Inc. (VRSK) $99.23 2.26% American Airlines Group (AAL) $52.78 2.05% Gap Inc. (GPS) $32.22 1.95% S&P 500 - Fallers Walmart Inc. (WMT) $91.52 -12.66% Devon Energy Corp. (DVN) $30.55 -11.85% Newfield Exploration Co (NFX) $23.20 -10.42% Campbell Soup Co. (CPB) $42.87 -6.97% Carmax Inc. (KMX) $60.95 -5.40% Murphy Oil Corp. (MUR) $25.17 -5.30% Iron Mountain Inc (New) (IRM) $31.46 -5.16% Newell Brands Inc (NWL) $26.83 -4.96% Chesapeake Energy Corp. (CHK) $2.64 -4.69% Garmin Ltd. (GRMN) $61.88 -4.62% Nasdaq 100 - Risers Verisk Analytics Inc. (VRSK) $99.23 2.26% American Airlines Group (AAL) $52.78 2.05% Hasbro Inc (HAS) $99.07 1.33% Liberty Interactive Corporation QVC Group (QVCA) $28.16 1.15% Marriott International - Class A (MAR) $141.96 1.08% Facebook Inc. (FB) $177.91 1.08% Henry Schein Inc. (HSIC) $68.68 1.04% Amazon.Com Inc. (AMZN) $1,482.92 0.99% Take-Two Interactive Software Inc. (TTWO) $108.54 0.99% Alphabet Inc. Class A (GOOGL) $1,113.75 0.92% Nasdaq 100 - Fallers Dish Network Corp. (DISH) $43.18 -3.12% Nvidia Corp. (NVDA) $241.51 -3.04% Cadence Design Systems Inc. (CDNS) $39.26 -2.27% Lam Research Corp. (LRCX) $189.23 -2.18% Vertex Pharmaceuticals Inc. (VRTX) $157.89 -1.92% O'Reilly Automotive Inc. (ORLY) $247.69 -1.86% Walgreens Boots Alliance, Inc. (WBA) $69.63 -1.81% T-Mobile Us, Inc. (TMUS) $59.42 -1.80% Kraft Heinz Co. (KHC) $67.47 -1.78% Regeneron Pharmaceuticals Inc. (REGN) $317.51 -1.71% Looking for early access to investment opportunities? Make your own informed investment decisions. Get the right tools and information at Master Investor Show 2018. Register for free today Cryptocurrencies Report Top Cryptocurrencies # Name Market Cap($) Price(%) Change Price Graph(3m) 1 Bitcoin (BTC) 179,204,492,190 10,490 -0.67% 2 Ethereum (ETH) 82,824,772,833 837.99 +0.05% 3 Ripple (XRP) 38,920,274,826 0.9609 +1.21% 4 Bitcoin Cash / BCC (BCH) 21,913,803,056 1,277.5 -0.46% 5 Litecoin (LTC) 11,701,275,314 209.66 +0.17% 6 Cardano (ADA) 9,107,894,682 0.329627 -0.95% Atlantic Advisory - Share Tips of the Year 2018 Download Our Latest Report Here Losses can exceed deposits Thursday newspaper round-up: Brexit, wages, GKN, ITV, Apple The Cabinet did not agree to Theresa May's negotiating strategy for the transition period after Brexit before it was sent to EU nations, senior ministers have told Telegraph. The official strategy document, which was published on Wednesday, prompted a furious backlash after raising the prospect of an open-ended transition period after Brexit. - Telegraph Britain is at risk of the first sustained rise in inequality since the late 1980s as poorer families face three years of stagnating incomes, according to the Resolution Foundation. The thinktank warned that government cuts to working-age benefits were damaging prospects for 8 million low and middle-income households, as the rollout of £14bn of welfare reductions offsets the gains from policies such as the “national living wage”. - Guardian Gavin Williamson, the defence secretary, has raised “serious concerns” with Greg Clark, the business secretary, over a £7.4 billion hostile takeover bid of GKN. The business, energy and industrial strategy committee will hold a session on 6 March to hear from the two companies, as well as the Unite union, which is campaigning against the takeover. Ministers are also assessing whether the bid should be blocked on national security grounds. - Times/Guardian …Williamson also announced the launch of a combat air strategy aimed at finding the next generation of fighter jets and shoring up British aerospace jobs. The strategy involves consultation between the Ministry of Defence, industry and with the UK’s international partners. It follows completion of a similar strategy for shipbuilding that was completed in September. - Guardian Ministers are to delay Commons votes on the customs union for up to two months amid fears that they could result in defeats that jeopardise Brexit negotiations. Theresa May is facing two rebellions — one from Remainers and the other from Brexiteers, both of which would effectively tie her hands on future EU customs arrangements if they were to succeed. - The Times The Bank of England has warned that economic uncertainty caused by the Brexit vote will knock 5% off UK wage growth by the year end. Mark Carney, the bank’s governor, said British workers had already suffered a loss in earnings growth of 3.5% - compared with pre-referndum froecafter inflation is taken into account, and would see that loss swell to 5% by the end of the year as wages growth remained below inflation. - Guardian New ITV chief executive Dame Carolyn McCall has ditched a long-running campaign by the broadcaster to force Virgin Media to pay tens of millions of pounds per year to carry its main channel. In one of her first big decisions it is understood that Dame Carolyn has adopted a more flexible approach in negotiations with the cable operator, which is owned by ITV’s own biggest shareholder Liberty Global. Apple is seeking to buy cobalt directly from mining companies amid a looming shortage of the metal, a key ingredient for the lithium-ion batteries in its iPhones and iPads. Fearful that the boom in electric cars might put pressure on supplies, the Californian technology giant has been in discussions to secure contracts for “several thousand metric tons” of cobalt each year for at least five years. - The Times/Bloomberg The founders of Spotify are to maintain an iron grip on their company when it goes public this year by employing a controversial share structure that is popular among Silicon Valley tycoons but scorned by many investors. Daniel Ek and Martin Lorentzon, respectively chief executive and vice-chairman, are to hold “super-voting” shares that give them outsized power in the boardroom, Bloomberg reported. - The Times Newsweek, once one of the most powerful publications in US media, has a scoop on its hands – one that has plunged the troubled title further into chaos. On Tuesday the magazine published an exposé of its owner’s ties to a small evangelical Christian school, Olivet University, founded by the controversial Korean pastor David Jang. - Guardian Unilever is expected to make a call on where it will base its headquarters within the next couple of weeks, with the Government bracing for the Dove maker to pick the Netherlands over the UK. Boss Paul Polman earlier this month said the group was likely to complete its review into where to house its legal base by the end of the first quarter. - Telegraph Carillion was in serious financial difficulty by the middle of 2016 but directors were “placating the City” by failing to disclose major problems, according to a former executive at the collapsed government contractor. Speaking on condition of anonymity, an executive who spent more than 20 years with the company lifted the lid on a corporate culture in which “nobody wanted to give bad news”. - Guardian The United States supreme court dealt a blow to Wall Street whistleblowers on Wednesday when it ruled that protections for them passed by Congress after the 2008 financial crisis only apply to those who report problems to the government, not more broadly, such as to a boss. The justices decided unanimously that measures in the Dodd-Frank Act that protects whistleblowers from being fired, demoted or harassed only applies to people who report legal violations to the Securities and Exchange Commission, the federal government’s financial watchdog. - Guardian One of Ireland’s richest men has bested Mike Ashley and struck a deal to buy Brixton’s covered markets in south London. Aidan Brooks, a Limerick-born property investor, is understood to be leading the acquisition of Brixton Village and Market Row for an undisclosed sum. - 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