| | | | | | | Momentum Investing 5 FTSE Stocks Currently on Momentum At its core, Momentum Investing is about understanding the psychology of the market and how traders tend to "rush" into certain stocks. The goal being to identify and profit from such bull rushes. This report delves into the concept and looks at 5 Stocks that have seen positive momentum in 2018. Losses can exceed deposits. Download Report | | |
| | London open: Stocks drop amid growing trade war fears; miners weigh |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London stocks fell in early trade on Monday, led lower by the mining sector amid growing trade war concerns. At 0840 BST, the FTSE 100 was down 1.2% to 7,547.58, while the pound was up 0.1% against the euro at 1.1316 and 0.3% lower versus the dollar at 1.3168. Worries about a trade war escalated after US President Trump said over the weekend that the European Union was "as bad as China" when it comes to trade. Asked whether it would be better to join forces with Washington’s European allies to try to change China’s trade practices in an interview with Fox News, Trump said: "No... they treat us badly, they treat us very unfairly." "The EU is possibly as bad as China, just smaller. It is terrible what they do to us," he said. Spreadex analyst Connor Campbell said: "This has sent the President’s previous threat of tariffs on EU car imports back to the top of investors’ 'To Fear’ lists." Mining stocks were the worst performers, with Anglo American, Glencore, BHP Billiton and Antofagasta all lower after data showed that growth in China's manufacturing sector slowed in June. The Caixin-Markit China manufacturing purchasing managers' index nudged down to 51 this month from 51.1 in May, in line with expectations. On the UK data front, Markit’s manufacturing PMI for June at 0930 BST is expected to have dipped to 54 from 54.4 in May. In corporate news, Tesco slipped even as it agreed to form an alliance with French supermarket peer Carrefour to group their buying power together to squeeze prices even lower. Initially agreed as a three-year partnership, the alliance will cover the "strategic relationship" with global suppliers, the joint purchasing of own brand products and goods not for resale. AstraZeneca fell despite announcing that it has received rapid regulatory approval for new uses of two of its important cancer drugs in Japan, while gambling software and development company Playtech was sharply lower after a profit warning. Micro Focus rose after agreeing to sell its SUSE software business to Blitz 18-679, a subsidiary of Swedish private equity group EQT, for $2.5bn in cash. Engineer Meggitt was in the green after upping its revenue guidance for the year following a stronger-than-expected second quarter and announcing a divisional restructure. LondonMetric ticked up after agreeing to sell two M&S convenience stores for £10.7m. Vedanta surged after the company’s directors indicated that they would be prepared to recommend a possible £778m all-cash takeover offer from founder Anil Agarwal, which comes amid a share slump after several protestors were killed by police at protests against the expansion of the company's Tuticorin copper smelter in India. In broker note action, Premier Inn and Costa owner Whitbread was upgraded to 'market perform’ at Bernstein. |
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| | Market Analysis 29/06/2018 | | Trade Your capital is at risk Today's highlights: Global markets mostly higher Wall Street closes higher: Fueled by a rally in tech stocks and financials, the Dow... Read More.. |
| | Europe open: German political risk, trade concerns weigh on shares |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Stocks have started the third quarter lower amid renewed fears that Germany's ruling coalition might be set to break apart, with criticism of the EU from the White House over the weekend adding to the negative tone in markets. Slightly weaker-than-expected readings on factory sector activity in China and the euro area and another sharp fall in Chinese stocks and the yuan, all overnight, was adding to investor caution. On Sunday, Germany's Minister of the Interior, Horst Seehofer, who belongs to the Bavarian CSU party, threatened to resign, saying that Chancellor Angela Merkel's compromise agreement on immigration with the European Union, reached last Friday, was lacking. "The direct economic impact of a German political crisis should be small. Still, Merkel's position at home and abroad is weakened by the dispute. It also complicates the efforts to reform the EU and the Eurozone," said Holger Schmieding at Berenberg. As of 0900 BST, the benchmark Stoxx 600 was falling 0.91% or 3.46 points to 376.47, alongside a drop of 0.69% or 84.66 points to 12,223.37 for the German Dax and a retreat of 1.66% or 359.27 points to 21,259.09 for the FTSE Mibtel. In paralllel, euro/dollar was trading 0.4% lower to 1.1624. Meanwhile, the Shanghai Stock Exchange's Composite Index had closed 2.52% lower on Monday, alongside another gain of 0.47% in the US dollar to 6.6523 yuan. Adding to the dour mood, in remarks to broadcaster Fox on Sunday, US President Donald Trump said that "The EU is possibly as bad as China, just smaller. It is terrible what they do to us." Against that backdrop, IHS Markit's 'final' Purchasing Managers' Index for June dipped to reading of 54.9 for June (Preliminary: 55.0), an 18-month low, which was down from May's print of 55.5. "Production growth has weakened markedly since the end of last year, and new order inflows have slowed even more. Manufacturers may therefore need to rein-in their production further to adjust to the recent downturn in order book growth unless demand revives," said IHS Markit's Chris Williamson. "The biggest concern is the extent to which export order book growth has cooled since the start of the year, and could soon go into decline." At 1000 BST, Eurostat was scheduled to publish readings on producer prices and unmployment in the Eurozone in the month of May. Weighing on investor sentiment in Milan at the beginning of the week, shares in drug-maker Recordati cratered after a group of funds agreed to take a stake in the company - albeit at a discount. Going the other way, stock in French grocer Carrefour had reversed early losses to trade slightly higher after announcing a purchasing alliance with Tesco, which it said was aimed at cutting costs. |
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| | US close: Wall Street ends quarter on a positive note despite mixed data | | Stocks on Wall Street finished higher on Friday, but off their best levels of the session, as a mixed batch of economic data weighed on sentiment at the end of the quarter. By the closing bell, the Dow Jones Industrial Average was 0.23% or 55.36 points higher to 24,271.41, alongside an advance of 0.08% or 2.06 points to 2,718.37 for the S&P 500 and an advance of 0.09% or 6.62 points to 7,510.30 for the Nasdaq Composite. From a sector standpoint, the best performance was to be seen in the following industrial groups: Footwear (9.51%), Personal goods (2.75%) and Non-ferrous metals (2.72%). Over the course of the second quarter, the S&P 500 rose 2.9%, putting it back in positive territory for the year-to-date. Sentiment got a boost after the Fed gave the green light to 32 of the 35 largest US banks to lift their dividends and buy back shares. The four biggest banks - JPMorgan, Bank of America, Wells Fargo and Citigroup - said they will pay out more than $110bn through dividends and share buybacks. Markets in the US were also tracking gains in Europe, where investors welcomed news that EU leaders at the summit in Brussels reached a deal on migration in the early hours of Friday, after more than 10 hours of negotiations. As part of the deal, which is voluntary, new migrant centres would be set up in EU countries to process migrants and determine those who are genuine refugees, with those deemed "irregular" returned. The leaders also agreed to tighten their external border and increase financing for Turkey, Morocco and North African states to prevent migration to Europe. The agreement was widely seen as relieving pressure on German Chancellor Angela Merkel, whose coalition was teetering on the brink of collapse over the country's role in the refugee crisis. However, according to the Department of Commerce, personal spending rose by just 0.2% month-on-month in May, half what economists had been anticipating. The same report also revealed that in May the 'core' price deflator for personal consumption expenditures rose at a 2.0% clip year-on-year (consensus: 1.9%), which was up from the 1.8% pace observed in the month before. According to Barclays Research, US core PCE prices were set to end the year at 2.1%, which was in-line with the US central bank's stated policy objectives. Barclays's forecasts called for two more interest rate hikes from th Fed in 2018. A final reading on the University of Michigan's widely-followed consumer confidence gauge for June also came in on the soft side, being revised down from a preliminary print of 99.2 to 98.2 (consensus: 99.2). On a more positive note, MNI's Chicago Business Barometer climbed to a five-month high of 64.1 in June (consensus: 60.5). Investors were also digesting a report suggesting that the US President Tump wants to withdraw from the World Trade Organization. According to Axios, Trump has told several top White House officials that he wants to withdraw the US from the WTO. One source told Axios: "He's [threatened to withdraw] 100 times. It would totally [screw] us as a country." However, the US Secretary of the Treasury, Steve Mnuchin, later denied those reports. In corporate news, shares of Nike surged after its quarterly sales and earnings late on Thursday beat analysts' expectations, while housebuilder KB Home was stronger in pre-market trade after better-than-expected quarterly numbers. Elsewhere, Lannett was in focus after saying it expects to incur around $5m in costs from the restructuring of its Cody Laboratories unit and to cut around 50 jobs there. On the data front, the PCE index is at 1330 BST, while the Chicago purchasing managers' index is at 1445 BST and Michigan consumer sentiment is at 1500 BST. |
| | Monday newspaper round-up: Brexit, debt, estate agents, Barclays | | The business secretary, Greg Clark, has suggested the post-Brexit transition period could be extended to allow companies more time to prepare, as he criticised cabinet colleagues for airing their differences in public. With Theresa May’s bitterly divided cabinet preparing for a showdown at Chequers on Friday over Britain’s future relationship with the EU, Clark urged ministers to listen to business – and be guided by evidence. - Guardian Theresa May’s chief Brexit negotiator has told ministers that they have no chance of striking a bespoke trade deal with the European Union. Oliver Robbins briefed secretaries of state before their meeting at Chequers on Friday that they had to be realistic about what could be achieved. - The Times Pessimism about the long-term impact of Brexit is at its highest level since the referendum, a survey has found. Having abated for a while, concerns about leaving the EU are once again top of the list of risks facing British business, according to Deloitte’s quarterly survey of chief financial officers. - The Times More than 150 estate agency firms went insolvent last year and as many as 7,000 are at risk as high street operators face the triple whammy of online competition, a sagging property market and cuts to letting fees. A study by accountants Moore Stephens found that 153 estate agency firms went insolvent in the year to May 2018, a small increase on the 148 the year before. - Guardian The threat of a trade war between the US and EU has escalated, with President Trump accusing European countries of being “as bad” as China in their dealings with America. In an interview with Fox News, he dismissed suggestions that threatening the EU with tariffs was counterproductive, saying: “The European Union is possibly as bad as China, just smaller. It is terrible what they do to us.” Mr Trump referred to the “car situation”. - The Times Debt levels among Britain’s listed companies have hit an all-time high as they loaded up on credit to pay dividends and make investments during a period of weak profitability, according to research. Net debt jumped by £123 billion over the past three years as “companies paid their shareholders £263 billion in dividends, despite profitability being squeezed and dividend cover levels falling to record lows in 2016-17”, Link Asset Services, said in its annual Debt Monitor report. - The Times Barclays has received a further boost in its battle with Edward Bramson, the corporate raider, after ratings agency Standard & Poor’s (S&P) warned a shake-up in strategy could damage the bank’s credit worthiness. Ratings agencies have been keeping a close watch on Barclays as it has struggled in recent years. - Telegraph The financial services industry is stepping up recruitment and investment despite a lack of optimism in its prospects, the CBI said. Hiring rose at the fastest pace in a year and investment intentions improved in the three months to June, the quarterly survey of 100 financial services companies by the CBI, the employers group and the accountants PWC found. - The Times Monzo, the fast-growing digital bank, has trebled its user numbers to 750,000 in a year, but has said profitability is its “next challenge” after losses jumped fourfold to £33.1m. Tom Blomfield, founder and chief executive, said the tech darling had made “real progress” and expected to reach “several million” customers by the end of 2019. - Telegraph Germany’s interior minister dramatically announced plans to resign on Sunday night, after a heated showdown with chancellor Angela Merkel over migration. Horst Seehofer, Germany’s Interior Minister and leader of the Christian Social Union (CSU), said on Sunday evening that he wanted to resign from all offices, after hours of heated talks with his party. - Telegraph Central banks will have to cut interest rates into negative territory, do more quantitative easing and dream up entirely new policies to combat even a mild recession in the future because they have no conventional headroom left, some of the world’s most eminent economists have warned. A better way to deal with the problem of the “zero lower bound”, when rates need to be cut below zero, would be to raise the inflation target to about 4 per cent but the solution was “not realistic” even though the 2 per cent used by central banks worldwide is “arbitrary”, they said. - The Times A pensions crisis is brewing among the pre-retirement generation as the UK hits “peak pensioner” and the wealth of future retirees is increasingly exposed to the vagaries of the stock market, a top economic think-tank has warned. Those that are a decade from the retirement age may not even have saved enough to last until they die, according to Paul Johnson, director of the Institute for Fiscal Studies. - Telegraph Stobart Group’s former boss Andrew Tinkler has warned a Guernsey-based trustee company that he will take legal action if it tries to swing a crunch vote in chairman Iain Ferguson’s favour. Mr Tinkler has been fighting to replace Mr Ferguson in a boardroom battle that will come to a head at the company’s annual general meeting on Friday. - Telegraph The BBC is in talks with Channel 4 tomount a £500m bid to take control of UKTV , which broadcasts channels including Dave and Gold. UKTV has a mix of 10 free to air and pay-TV channels as well as a free streaming service. It is 50% controlled by BBC Worldwide, with the remaining stake owned by US media company Discovery. - Guardian Travelodge has launched a new “budget chic” hotel format that will be rolled out to sites across the country, including a 395-room property in the City of London. Travelodge Plus is designed to meet the needs of “the budget traveller who wants that little bit more style and choice”, the company said. - The Times Lawyers for Tom Hayes, the jailed former trader, are ratcheting up their efforts to clear his name after it was revealed a key witness asked the Serious Fraud Office (SFO) if a third party could “sanity check” his report for “howlers”. Saul Haydon Rowe was the SFO’s expert witness during the trials of former traders accused of rigging the London Interbank Offered Rate (Libor), but questions over his credibility were raised after he admitted to texting friends for help while giving evidence. - Telegraph | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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