| | | | | Q2's Top 10 Stock Picks | | What trading opportunities do the next 3 months hold? Our latest quarterly stocks report unveils our Top 10 Stock Picks for Q2 as well as a review of the key Q1 stories & preview of the coming quarter's pivotal events, and analysis of the best, and worst, FTSE share price performances year to date. Losses can exceed deposits. Download Report | | |
| | London open: Stocks rise as Apple provides some cheer; construction data eyed |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London stocks rose in early trade on Wednesday, with miners on the up and wider sentiment underpinned by a solid set of earnings overnight from US tech giant Apple, as investors eyed the release of UK construction data. At 0840 BST, the FTSE 100 was 0.5% higher at 7,554.68, while the pound was down 0.1% against the euro at 1.1337 and 0.2% firmer versus the dollar at 1.3639. Better-than-expected earnings from Apple late on Tuesday set the tone for trading in London, as the tech company posted a 16% jump in second-quarter revenue to just over $61bn and said it was returning another $100bn to shareholders. On the data front, the UK construction PMI at 0930 BST is expected to have ticked up to 50.5 in April from 47.0 the month before. After yesterday’s manufacturing disappointment, the pound could do with an improvement in the construction sector, said Spreadex analyst Connor Campbell. "The gradual erosion of its hawkish hopes for May’s Bank of England meeting - with Tuesday’s 17-month low manufacturing PMI the latest nail in an already firmly shut coffin - and the dollar’s own comeback has left sterling struggling to keep above $1.36, a near 16 week nadir." Meanwhile, the Fed will announce its latest rate decision at 1900 BST. In corporate news, Standard Chartered was in the black after it posted a 20% increase in profit for the first quarter as revenue rose across the bank’s business. Pre-tax profit for the three months to the end of March rose to $1.19bn (£880m) from $990m as operating income increased 7% to £3.87bn. Ocado shot higher as it announced a new international partnership with Sweden's ICA to develop its online grocery business. Residential landlord Grainger was on the front foot as it sold its 50% interest in the Walworth Investment Property (WIP) joint venture to its partner, Dorrington, for £67m. Sage ticked up after the business software provider delivered first-half revenue growth of 6.3%, in line with its recent profit warning, and assured it had rooted out the problems. Inmarsat rocketed as it said first-quarter pre-tax profit grew to $56m from $1.3m the year before, while kitchen maker Howden Joinery rallied after it posted a 15% jump in first-quarter UK revenue as it benefited from an extra week of trading compared to 2017, higher volumes and a weak comparative. On the downside, Paddy Power Betfair slumped after it said underlying first-quarter earnings fell 6% as a result of new betting taxes and levies and start-up losses in its US businesses, while workspace provider IWG declined even as it reported an increase in first-quarter group revenue. Insurer Direct Line fell after it reported a 5% drop in gross written premiums for the first quarter and warned that claims associated with the cold weather at the beginning of the year would eat up its full annual weather budget. Indivior lost ground despite releasing in-line first-quarter results and saying it was no track to meet full-year guidance, while building materials group CRH slipped as it began the first phase of its share buyback programme. |
| | Daily cryptocurrency Tracker 2.5.18: Recovery seen in crypto markets | | Following several days of losses, crypto markets recovered over the past 24 hours, as 9 of the top 10 cryptos registered gains, and Bitcoin once again climbed above the $9,000... Read More.. |
| | Market Status | Top 10 FTSE 100 RisersTop 10 FTSE 100 Fallers |
| | Atlantic Advisory - Share Tips of the Year 2018 | | Download Our Latest Report Here Losses can exceed deposits |
| | Crypto Currencies | | |
| | Paradigm Capital are introducing structured real estate assets comprising of fixed income opportunities and managed fund positions | | It is increasingly clear the time for tangible assets is looming. Head for portfolio consolidation as opposed to market speculation. Click to register |
| | US close: Dow falls again as upbeat Apple results lift tech stocks | | The Dow Jones closed lower for the third session in a row as investors digested uninspiring earnings from the likes of Pfizer and Under Armour while an Apple-led rally gave tech stocks a lift as the company's earnings beat estimates. The Dow was down 0.27% to 24,099, while the S&P 500 rose 0.25% to 2,654 and the Nasdaq 0.91% to 7,130. SpreadEx analyst Connor Campbell said the stronger dollar had put investors off equities with "a hawkish, if uneventful, Fed meeting" on Wednesday and the non-farm jobs report on Friday and the possibility of the unemployment rate hitting 4.0%. Investors were also digesting news that Donald Trump has given the EU, Canada, Mexico and other allies another 30-day reprieve from new steel and aluminium tariffs. The exemptions will now last until 1 June, giving the US and the exempted nations more time to work out deals. Rabobank pointed out that this is the final temporary extension, which means it does little to lessen the unpredictability of the final outcome. It does, however, give the US more time to build a coalition with its key trading partners against China. On the data front, Markit's manufacturing PMI rose to 56.5 in April from 55.6 in March, indicating the strongest manufacturing growth in over three-and-a-half years. Figures from the Institute for Supply Management were less rosy, however, with the ISM's headline manufacturing index down to 57.3 in April from 59.3 in March, missing expectations for a smaller drop to 58.3. Andrew Hunter, US economist at Capital Economics, said that while the drop was worse than the consensus forecast and echoes the recent weaker tone of some of the early regional surveys, it remains consistent with annualised GDP growth rebounding above 3% in the second quarter. "The press release suggests that uncertainty caused by the recent escalation of protectionist threats is weighing on some manufacturers. But with the temporary exemptions to the steel and aluminium tariffs having just been extended for another month, the trade restrictions actually implemented so far remain too small to have a major impact on the economy. "In any case, with global growth likely to hold up fairly well and the dollar’s depreciation still supporting exports, there are good reasons to expect manufacturing activity to continue to expand at a healthy rate over the coming months." Meanwhile, data from the Commerce Department showed US construction spending unexpectedly fell in March. Spending fell 1.7% to a seasonally-adjusted annual rate of $1.28bn, missing expectations for a 0.5% increase. On the year, spending was up 3.6% to $1.24bn. Private sector construction spending dropped by 2.1% to a seasonally-adjusted annual rate of $987.5bn, marking the biggest drop since January 2011. Spending on residential construction declined 3.5% to $536.8bn and non-residential construction spending slipped 0.4% to $450.7bn. In corporate news, Apple shares rose after the bell by almost 5% at one stage as earnings beat estimates and third quarter guidance was above consensus forecasts - despite the company saying it sold fewer of its iconic iPhones. The company also announced a huge $100bn share buy-back. Boeing down 2.21% after announcing plans to buy plane-parts specialist KLX Inc for $3.2bn. Drugmaker Pfizer was also under the cosh after reporting a somewhat mixed quarter and sportswear brand Under Armour lost 5.18% after it posted stronger-than-expected sales for the first quarter, boosted by its international business and growth within the apparel category, but noted that weaknesses persist in the US market. Elsewhere, Tenet Healthcare surged 12.23% after better-than-expected quarterly earnings late on Monday, while US-listed shares of oil giant BP ticked up 0.74% after it posted a 71% rise in profit for the first three months of 2018 as its upstream business reported its strongest quarter for more than three years. |
| | Wednesday newspaper round-up: Tax havens, Apple, Ocado, Brexit | | Britain’s overseas territories will be forced to adopt public registers of company ownership at the end of the decade after the government conceded it would have to support a backbench amendment designed to stem the global flow of “dirty money”. Sir Alan Duncan, a Foreign Office minister, told the Commons that ministers recognised “the majority view in this house” and would not oppose an amendment to the sanctions and anti-money laundering bill from Labour’s Margaret Hodge and the Conservative MP Andrew Mitchell. – Guardian Apple on Tuesday shook off worries that its $1,000 iPhone had failed to live up to the hype - but sales of the world’s most valuable company’s most valuable product are slowing, and Apple has announced a plan to buy its way out of trouble. Releasing its latest quarterly report, Apple announced it had sold 52.2m iPhones in the quarter ending 31 March, at an average price of $728.54. Sales were up 3% compared to last year and slightly lower than analysts had expected, but numbers beat the gloomiest forecasts and were enough to deliver Apple its best second quarter ever, with revenues of over $61bn. That beat the record of $58bn set in 2015. - Guardian Ocado has agreed a partnership with Swedish supermarket chain ICA in the latest in a flurry of deals that will give investors confidence its shift to focus on becoming a supplier of white label technology is beginning to pay off. The FTSE 250 firm will build a warehouse staffed by robots outside Stockholm and allow ICA, which is Sweden’s biggest grocer with a market share of 36pc, to use its ecommerce and logistics technology. Ocado said the deal would be earnings neutral this year, with small increases in capex spending in future years to invest in building the technology. - Telegraph A startup dubbed the “Uber for carers” has raised $17m (£12.5m) to help fund its plan to transform the struggling home care industry by buying up failing providers and moving their patients and carers onto its digital platform. Cera, which is backed by Standard Chartered’s ex-chief executive Peter Sands and counts former deputy prime minister Sir Nick Clegg among its advisers, will use the cash to expand beyond its current focus on London and the south-east by taking over companies in Birmingham, Leeds and Manchester. - Telegraph Theresa May faces a showdown with David Davis and other cabinet Brexiteers today as she tries to convince them of the merits of a customs plan that will keep existing EU tariffs. Boris Johnson, the foreign secretary, Liam Fox, the trade secretary, and potentially Michael Gove, the environment secretary, are likely to raise their objections to Mrs May’s plan at a meeting of cabinet’s Brexit sub-committee. - The Times BMW failed to recall thousands of British cars despite being told by a government agency that they had a potentially fatal fault, an inquest has been told. The German car giant acted only after a former Gurkha soldier was killed in Hampshire. Narayan Gurung, 66, who served in the British Army for 20 years, swerved into a tree on Christmas Day 2016 while trying to avoid a BMW that had stalled suddenly after being affected by an electrical fault. - The Times Coughs and sneezes spread diseases, as the old doctor’s waiting room poster had it, and now they are spreading to the workplace as the days of pulling a sickie appear to be over. The number of companies reporting a rise in workers going in when they are ill has more than tripled since 2010, according to a survey of hundreds of British employers, but the *desire to impress the boss and keep working has been criticised by the Chartered Institute of Personnel and Development for damaging the economy*. - The Times Small and medium-sized housebuilders are struggling with a sharp rise in costs for materials, according to the Federation of Master Builders. Britain’s largest trade association for the construction industry said that nearly all small housebuilders had reported that the cost of construction materials, such as timber and bricks, had risen in the first three months of the year. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
| | | | | | ADVFN Disclaimer Although we have sent you this email, ADVFN does not endorse any product or company nor is it responsible for the content of this news bulletin. We have not independently reviewed the information; claims or testimonials provided within the news bulletin and make no guarantee or warranty regarding its content. The opinions and recommendations expressed in this email are not those of ADVFN. |
| | | |
| Registered Office/Accounts Dept:
Suite 27, Essex Technology Centre,
The Gables, Fyfield Road, Ongar,
Essex, CM5 0GA. | | Support Tel: 0207 0700 961
Company registered in England and Wales:
Number 2374988
VAT No: GB 549 2130 49 | | | | | | | |
No comments:
Post a Comment