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| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks fall to eight-week lows amid rate rise fears London stocks fell to an eight-week low in early trade on Monday, taking their cue from heavy losses in Asia and on Wall Street at the end of last week amid concerns that the Federal Reserve might hike rates more than expected. At 0900 GMT, the FTSE 100 was down 1.2% to 7,357.36, while the pound was up 0.1% versus the dollar and the euro at 1.4132 and 1.1344, respectively. Stocks in the US tumbled on Friday, with the Dow dropping 666 points after data showed the strongest US wage growth in eight-and-a-half years, prompting a further sharp rise in yields across the board. Neil Wilson, senior market analyst at ETX Capital, said: "Equity nervousness seems to be about repricing for higher yields and tighter Fed policy and the fear that the bond market has broken out of its three-decade bull market. The wage data on Friday was a bit of a shock and if it is sustained calls for inflation to rise faster than markets had really expected. After a decade where central banks have been chasing inflation and equity markets happily watched them fall short, to a degree equities have been caught off guard by what could be a sudden release of pent-up inflationary pressures that will favour labour over capital; a situation not known since the crisis as ultra-low rates have fuelled asset prices. "All this would point to a bond bear market ensuing and with bond yields inching higher, it could keep the pressure on equities, making it difficult for investors to come back in. If they think yields will be higher tomorrow, why buy today?" On the UK data front, investors will eye the UK services purchasing managers' index at 0930 GMT from IHS Markit. Looking ahead to the rest of the week, the Bank of England's latest rate announcement and Inflation Report are due on 'Super Thursday' and although the monetary policy committee is expected to leave rates unchanged this time, market participants have begun to price in two rate rises this year. In corporate news, Vodafone retreated, giving back gains made late on Friday when it confirmed it is in talks with Liberty Global about the acquisition of some assets in Europe. Budget airline Ryanair flew lower, dragging peer EasyJet down with it after it posted a 6% rise in third-quarter pre-tax profit and announced a surprise share buyback, but struck a cautious note on the outlook as it warned over disruption from talks with unions. Wizz Air was also in the red despite reporting a 24% jump in passenger numbers in January. Unite Students was on the back foot after announcing the acquisition of a 331-bed property in Edinburgh for £24m, representing an acquisition yield of 6%. Petrofac gushed lower after it said its directors and employees will be interviewed as part of an ongoing SFO investigation. Tesco edged down after confirming that Booker Group boss Charles Wilson will be appointed chief executive of the group's retail and wholesale operations in the UK and Ireland when the takeover is completed. On the upside, Randgold Resources ticked up after saying it had increased annual gold production by 5% to 1.315m ounces, ahead of its guidance, while cutting total cash cost by 3% to $620 an ounce. The miner said full year profits rose 14% to $335m, with net cash up 39% to $720m, with no debt. The board has proposed doubling the dividend to $2 a share. Electrocomponents rallied after it said that its "strong" underlying revenue performance in the first half has continued into the first four months of the second half, with underlying revenue growth remaining stable at the 14% seen in the second quarter. B&Q owner Kingfisher was in the black after Australian retailer Wesfarmers wrote off Homebase for $1bn, which is more than it bought it for two years ago. On the broker note front, Countryside Properties was lifted by an upgrade to 'overweight' at Barclays, while Vedanta Resources was higher after an upgrade to 'overweight' at JPMorgan. |
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| | Market Movers FTSE 100 (UKX) 7,357.36 -1.16%
FTSE 250 (MCX) 19,706.54 -1.28%
techMARK (TASX) 3,326.26 -1.51% FTSE 100 - Risers Kingfisher (KGF) 356.80p 2.12%
Whitbread (WTB) 3,840.00p 0.68%
Anglo American (AAL) 1,651.20p 0.19%
Glencore (GLEN) 382.90p 0.04%
Fresnillo (FRES) 1,335.50p 0.04%
Informa (INF) 685.00p -0.15%
Sky (SKY) 1,060.00p -0.19%
Relx plc (REL) 1,507.00p -0.30%
Imperial Brands (IMB) 2,848.00p -0.35%
Antofagasta (ANTO) 898.20p -0.36% FTSE 100 - Fallers Vodafone Group (VOD) 213.65p -2.67%
Old Mutual (OML) 227.80p -2.65%
Scottish Mortgage Inv Trust (SMT) 444.43p -2.54%
easyJet (EZJ) 1,614.00p -2.36%
NMC Health (NMC) 3,180.00p -2.33%
Mediclinic International (MDC) 573.00p -2.15%
Sage Group (SGE) 722.40p -2.14%
Rentokil Initial (RTO) 290.30p -2.09%
Just Eat (JE.) 793.80p -2.02%
Rolls-Royce Holdings (RR.) 848.00p -1.97% FTSE 250 - Risers Capita (CPI) 168.05p 3.54%
Rank Group (RNK) 228.75p 1.44%
Riverstone Energy Limited (RSE) 1,280.80p 1.01%
Electrocomponents (ECM) 616.60p 0.85%
Countryside Properties (CSP) 312.40p 0.77%
Polymetal International (POLY) 803.20p 0.68%
SSP Group (SSPG) 606.00p 0.66%
Vedanta Resources (VED) 794.80p 0.58%
Pershing Square Holdings Ltd NPV (PSH) 1,004.00p 0.50%
Greencoat UK Wind (UKW) 120.75p 0.46% FTSE 250 - Fallers AA (AA.) 122.50p -3.92%
Hikma Pharmaceuticals (HIK) 906.00p -3.82%
Sophos Group (SOPH) 615.04p -3.67%
Petrofac Ltd. (PFC) 506.46p -3.64%
Woodford Patient Capital Trust (WPCT) 78.25p -3.63%
Clarkson (CKN) 3,066.00p -3.58%
Sirius Minerals (SXX) 22.82p -3.47%
Vietnam Enterprise Investments (DI) (VEIL) 465.00p -3.13%
Convatec Group (CTEC) 184.45p -3.13% |
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| | Europe Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Shares lower as Wall St sell off spreads The Wall Street-inspired sell off carnage hit European markets on Monday after rolling through Asia overnight. As global inflationary fears took hold, the pan-European Stoxx 600 index was down 1% to 384 points. All other European bourses opened lower. US stocks closed sharply lower on Friday to end a gloomy week as a strong non-farm payrolls report added weight to rate hike expectations. Stocks were hit by rising global bond yields and the downbeat tone in equity markets was only exacerbated after data revealed that US average hourly earnings surged in January as more jobs were added than expected, adding strength to the conviction that interest rates will be hiked three or even four more times this year. In corporate news, shares in UK defence contractor Babcock led the fallers ahead of a trading update this week and against a backdrop of budget pressures at the Ministry of Defence, the firm's largest customer. Ryanair shares were lower as the budget airline warned over potential industrial disputes with pilots. Chief executive Michael O'Leary stated that he would be prepared to take a hit from strikes rather than meet pilot demands over pay and conditions. The company posted a 6% rise in third-quarter pre-tax profit on Monday as revenue and passenger numbers jumped and a share buyback was announced, but the budget airline struck a cautious note on the outlook as it warned over disruption from talks with unions. Electrocomponents shares rose as the company said its "strong" underlying revenue performance in the first half has continued into the first four months of the second half, with underlying revenue growth remaining stable at the 14% seen in the second quarter. |
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Top of the stocks Number of Deals Bought Number of Deals Sold |
| | 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) | 133,655,541,497 | 7,822 | -4.58% |  | | 2 |  | Ethereum (ETH) | 78,979,694,141 | 797.53 | -3.33% |  | | 3 |  | Ripple (XRP) | 30,788,608,738 | 0.77491 | -4.78% |  | | 4 |  | Bitcoin Cash / BCC (BCH) | 17,872,241,831 | 1,030 | -10.92% |  | | 5 |  | Cardano (ADA) | 9,204,498,947 | 0.348087 | -8.88% |  | | 6 |  | Litecoin (LTC) | 7,879,637,239 | 142.19 | -3.48% |  | |
| | Atlantic Advisory - Share Tips of the Year 2018 | | Download Our Latest Report Here Losses can exceed deposits |
| | US Market Report | | US close: Stocks plunge as interest rate rise fears take hold US stocks closed sharply lower on Friday to end a gloomy week as a strong non-farm payrolls report added weight to rate hike expectations. The Dow Jones Industrial Average fell 665 points, or 2.54% to finish at 25,520, while the S&P 500 was off 2.12% to 2,762 and the Nasdaq was down 1.96% to 7,240. Stocks were hit by rising global bond yields and the downbeat tone in equity markets was only exacerbated after data revealed that US average hourly earnings surged in January as more jobs were added than expected, adding strength to the conviction that interest rates will be hiked three or even four more times this year. The yield on the benchmark 10-year Treasury note was up 1.64% to 2.84%. There were 200,000 new jobs added in the first month of 2018, the non-farm payrolls reported showed, which was better than the 180,000 forecast and the 160,000 added the month before. December payrolls were revised up to 160,000 from the initial growth indicated of 148,000, while November's growth was revised down to 216,000 from 252,000. Unemployment was left unchanged at 4.1% for January, as expected, but average earnings grew 2.9% year-on-year versus the 2.6% Wall Street estimate and up from the 2.5% a month earlier. Month-on-month earnings were up 0.3%, in line with forecasts and following an upwardly-revised 0.4% gain for the previous month. Pantheon Macroeconomics said: "In short, the labour market is tight, getting tighter, and employees are becoming more expensive." "The question for the Fed now is whether the plan for 'gradual' tightening will be enough if wage gains accelerate further. If much further/faster rates hikes are to be avoided, with unpleasant consequences for asset prices, we have to see both productivity growth and labour participation rise markedly, and soon. It isn't happening yet. We still look for four hikes this year." Minneapolis Federal Reserve President Neel Kashkari told CNBCthat the January jobs report was "one of the first signs" of wage growth. "The most important thing that I saw in a quick review of the jobs data is wage growth," he said. "We've been waiting for wage growth. Everyone's been declaring we're at maximum employment. More Americans have been coming in, which is a really good thing. But there hasn't been much wage growth. This is one of the first signs that we're seeing wage growth finally starting to pick up." In corporate news, Amazon surged after it said late on Thursday that full-year revenue rose 31% to $178bn, while profit rose to $3bn from $2.4bn the year before. Technology giant Apple was on the back foot early, but closed higher, after its results for the three months to the end of December released late on Thursday fell short of analysts' expectations for iPhone sales. Google parent Alphabet was sharply lower after its quarterly earnings were hit by rising costs. Exxon shares fell sharply after the company's fourth quarter results missed estimates. The oil giant reported earnings of 88 cents a share on revenue of $66.5bn against estimates of adjusted earnings of $1.03 on revenue of $71.9bn. Sector peer Chevron led the fallers as its final quarter earnings were also well below market expectations. Barbie doll maker Mattel provided a rare bright spot amid the selling carnage. The toy company shares were down 8% ahead of the bell after reporting sales and earnings over the critical Christmas period had missed expectations before bouncing back to be 7.91% higher at the close. Dow Jones - Risers Pfizer Inc. (PFE) $36.54 -0.79%
3M Co. (MMM) $245.05 -1.17%
Travelers Company Inc. (TRV) $147.87 -1.41%
Unitedhealth Group Inc. (UNH) $231.77 -1.47%
McDonald's Corp. (MCD) $169.26 -1.54%
Coca-Cola Co. (KO) $46.69 -1.60%
Walt Disney Co. (DIS) $108.70 -1.62%
Nike Inc. (NKE) $67.09 -1.66%
Johnson & Johnson (JNJ) $137.60 -1.73%
Cisco Systems Inc. (CSCO) $40.93 -1.85% Dow Jones - Fallers Chevron Corp. (CVX) $118.58 -5.57%
Goldman Sachs Group Inc. (GS) $260.04 -4.48%
Apple Inc. (AAPL) $160.50 -4.34%
Visa Inc. (V) $120.94 -3.87%
Dowdupont Inc. (DWDP) $70.89 -3.55%
Exxon Mobil Corp. (XOM) $84.39 -3.33%
American Express Co. (AXP) $96.68 -3.32%
Intel Corp. (INTC) $46.15 -3.15%
Home Depot Inc. (HD) $193.97 -2.97%
Caterpillar Inc. (CAT) $157.49 -2.93% S&P 500 - Risers Mattel Inc. (MAT) $16.53 7.90%
Motorola Solutions Inc (MSI) $104.14 5.08%
XL Group Ltd (XL) $38.25 3.84%
Edwards Lifesciences Corp. (EW) $131.83 3.82%
Amazon.Com Inc. (AMZN) $1,429.95 2.87%
Newell Brands Inc (NWL) $27.98 2.12%
Roper Technologies Inc (ROP) $285.54 1.76%
HCP Inc. (HCP) $23.86 1.23%
Bristol-Myers Squibb (BMY) $63.48 1.08%
Westrock Company (WRK) $67.25 0.92% S&P 500 - Fallers Freeport-McMoRan Inc (FCX) $17.97 -7.61%
United States Steel Corp. (X) $34.58 -7.56%
Xerox Corp. (XRX) $31.63 -7.31%
Diamond Offshore Drilling Inc. (DO) $16.82 -6.71%
Clorox Co. (CLX) $130.93 -6.71%
Alcoa Corporation (AA) $49.08 -6.35%
Transocean Ltd. (RIG) $10.32 -6.31%
Murphy Oil Corp. (MUR) $29.48 -6.26%
CBS Corp. (CBS) $55.40 -5.99%
Discovery Communications Inc. Class A (DISCA) $23.81 -5.81% Nasdaq 100 - Risers Charter Communications Inc. (CHTR) $387.50 4.40%
Liberty Global plc Series A (LBTYA) $38.49 3.50%
Amazon.Com Inc. (AMZN) $1,429.95 2.87%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $60.27 2.76%
Liberty Global plc Series C (LBTYK) $36.70 2.66%
Netflix Inc. (NFLX) $267.43 0.89%
Amgen Inc. (AMGN) $187.01 0.78%
Vodafone Group Plc ADS (VOD) $31.05 0.78%
Align Technology Inc. (ALGN) $257.38 0.71%
Regeneron Pharmaceuticals Inc. (REGN) $347.86 0.60% Nasdaq 100 - Fallers Lam Research Corp. (LRCX) $179.06 -5.31%
Alphabet Inc. Class A (GOOGL) $1,119.20 -5.28%
Seagate Technology Plc (STX) $51.77 -4.90%
Applied Materials Inc. (AMAT) $50.68 -4.88%
Alphabet Inc. Class C (GOOG) $1,111.90 -4.78%
Dollar Tree Inc (DLTR) $108.83 -4.43%
Illumina Inc. (ILMN) $220.18 -4.39%
Apple Inc. (AAPL) $160.50 -4.34%
Marriott International - Class A (MAR) $141.17 -4.30% |
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| | Newspaper Round Up | | Monday newspaper round-up: BoE rates, Brexit compromise, bitcoin, Heathrow The Bank of England is expected to raise interest rates twice this year after a surprisingly strong showing from the economy at the end of last year and a brightening outlook in 2018, leading economists say. Although the Bank’s rate-setting monetary policy committee seems almost certain to keep its rate at 0.5 per cent when it meets on Thursday, it is widely expected to display a hawkish shift in outlook by leaving the door open to a rise in May. Many economists expect a further rise in November. - The Times Ministers are preparing a Brexit compromise aimed at ending the increasingly acrimonious row in the Conservative Party over whether Britain stays in the EU's customs union. The 11-strong Brexit "war cabinet" will meet on Wednesday and Thursday to try to break the 19-month deadlock over the country's relationship with the European Union after it leaves the bloc. - The Times Theresa May has categorically ruled out keeping Britain in any form of customs union with the EU in a significant victory for Brexiteers ahead of two crucial Cabinet meetings this week. Downing Street said it wanted to "put to rest" arguments that have raged for weeks about whether the UK would join a customs union after Brexit. - Telegraph Britain's biggest bank has become the first to announce a ban on customers using credit cards to buy Bitcoin amid fears they could run up huge losses. Lloyds Banking Group will on Monday tell its 9 million credit card customers that it will block any attempts to buy bitcoin after the digital currency lost more than half its value in just two months. - Telegraph Private members' club Soho House is lining up a stock market listing that could value the chain at £1.4 billion. The business founded by chief executive Nick Jones, has 18 outlets including Soho and Mayfair in London and further afield in Barcelona, Berlin, Malibu and New York. - Mail Italian banks are selling off their domestic sovereign debt at unprecedented rates, leading to concerns that they will be hit hard when the European Central Bank ceases quantitative easing. Italian banks reduced their holdings of sovereign debt by €12.6bn in December, and by €40bn in the final three months of 2017, equivalent to 10.5pc of stock, according to analysis by investment advisory firm Jeffries. - Telegraph Britain's pensions industry has backed Mark Carney's call to abandon the old measure of inflation, which wrongly gives some savers extra income at the Government's expense. The industry and two former ministers agree with the Bank of England governor's claim that the Retail Price Index (RPI) is outdated and unreliable, and should be replaced with the Consumer Price Index (CPI) on new index-linked bonds. - Telegraph The High Street has been plunged into fresh turmoil amid debt worries and falling sales at New Look and House of Fraser. The retailers' troubles come as hundreds of restaurants and shops prepare to close stores and axe jobs as more people choose to stay and home and shop online. In the latest blow for the High Street, one of House of Fraser's leading credit insurers has pulled the plug on cover for suppliers that provide the department store with its stock. - Mail Department store John Lewis has clashed with fashion brands it has hit with a charge for each item sold on its website ?" and slapped on another fee if the item is later returned by shoppers. The 'double whammy' charge could raise millions for John Lewis, which prides itself on it ethical approach, if it were applied across the firm's ranges, suppliers revealed. Several, who wished to remain anonymous for fear of reprisals, said the firm has demanded a £1.50 per item charge on each sale and an extra £1.50 'processing fee' if it is returned. Up to a third of clothing purchased online is sent back. - Mail British Airways' owner has called on government to break up Heathrow's "monopoly" of infrastructure, suggesting that other companies could run the different terminals to create competition and cheaper flights for consumers. IAG said the airport's planned expansion could allow independent firms to create and run new terminals more effectively than Heathrow's current owners, with lower costs to airlines. - Guardian The aviation watchdog is threatening legal action against airlines amid fears they are splitting up groups to force passengers to pay for a particular seat. The Civil Aviation Authority (CAA) said that a little more than half of passengers questioned in a survey were told by airlines that they would have to pay to ensure that their group could sit together. - The Times The Ryanair chief executive, Michael O'Leary, has warned the company will not bow to "laughable" demands from pilots and would rather see strike or disruptions than undermine the airline's productivity. The Irish airline, Europe's largest budget carrier, has been in talks with pilots since December, when it agreed to recognise trade unions for the first time in its history to avoid Christmas strikes. - Guardian Rail workers are to take further industrial action over the role of train guards later this month. Members of the Rail, Maritime and Transport union on South Western Railway will refuse to work any rest days from 16 to 19 February. - Guardian A German-led consortium leading the race for a multi-billion contract to supply armoured vehicles for the Army has pledged to build the bulk of them in Britain in a move expected to create 1000 UK jobs. Artec ?" which is headed by Germany's Krauss-Maffei Wegmann and Rheinmetall ?" is seen as the leading contender to supply its Boxer eight-wheeled Mechanised Infantry Vehicles (MIVs) to Britain's military. - Telegraph A sale of Richard Desmond's Express and Star tabloid newspaper business to rival publisher Trinity Mirror could come as soon as this week despite concerns among some investors about the tie-up. The deal would see the publisher of the Mirror newspapers take on the Daily Express and Daily Star and their Sunday titles, as well as celebrity magazine OK!. - Telegraph The number of foreign students applying to British universities has hit a high, despite warnings about the impact of the Brexit vote on higher education. More than 100,000 EU and overseas candidates have applied to take up places this autumn, the first official figures for the year show today. - The Times The health risks from mobile phone radiation appear to be either small or non-existent, scientists have said. Two studies by the US government are the most extensive yet on the impact of microwave signals, a topic that researchers have studied for decades. - The Times One of the world's biggest law firms is under investigation over claims that it forced a junior female lawyer to sign a gagging order after she accused a male partner of sexual assault. The alleged assault is said to have happened at a business social event when the partner from Baker McKenzie invited several junior lawyers to his hotel room for drinks. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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