| | | | | | | Ready to Retire in 2018 When can you stop working? If you have a £250,000 portfolio, get ongoing updates and download the must-read guide for retirees called "The 15-Minute Retirement Plan." Don't miss it! Learn more here Fisher Investments UK 
| | |
| | London open: Stocks bounce back, Brexit and US jobs data in the spotlight |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Stocks were bouncing back on Friday ahead of a meeting between Prime Minister May and her French counterpart, Emmanuel Macron, scheduled for later in the day. With just 11 weeks to go to the date by when negotiators on both sides want a deal to be signed, May is still trying to win EU leaders over to her vision for Brexit. However, according to various reports Brussels was now prepared to compromise on post-Brexit arrangements for the Irish border, making a deal on the Withdrawal Bill before October more likely. In a boost to investor sentiment, overnight saw another strong session for technology stocks in the US as Apple's market capitalisation pushed past the $1.0trn mark. Nevertheless, ongoing weakness in the Chinese yuan was reminding investors that a full-blown trade war might soon become a reality, with the US dollar gaining 0.46% versus the Chinese currency to 6.8746. Against that backdrop, as of 0915 BST, the FTSE 100 was trading 41 points higher at 7,606.96, with the second tier index up by 0.27% or 55.26 points to 20,604.62. Very much on investors' minds as well was the US non-farm payrolls report for July which was set for release at 1330 BST, with the consensus anticipating an increase of 193,000, which should suffice to lower the unemployment rate from 4.0% to 3.9%. Services sector Purchasing Managers Indices were also due to be published in the US and UK, with the latter expected at 0930 BST. Earlier, IHS Markit said its Eurozone services PMI slipped from a prelreading of 55.2 for June to 54.2 in July (consensus: 54.4). That prompted the survey compiler to say: "On this front, downside risks are more prevalent, as the slower expansion in new order inflows during July was partnered by a tandem dip in business optimism to a 20-month low. Both are reflecting the uncertainty about global market conditions, especially given the ongoing rhetoric about trade wars and the potential spillover effects to the broader economy and to manufacturing in particular." RBS announces first dividend in a decade Royal Bank of Scotland declared its first dividend in 10 years despite a inconsistent set of first half results. The taxpayer-owned bank reported a profit attributable to shareholders of £888m for the first six months of the year, which was down 5.4% on last year. It said the interim dividend of 2p per ordinary share was subject to the timing of the penalty agreed with the US Department of Justice. Product testing company Intertek said it was buying US-based software provider Alchemy for $480m (£368.8m) in cash. Founded in 2003 and headquartered in Austin, Texas, Alchemy employs approximately 270 people at four locations across the U.S. and Canada. It is majority owned by the private equity firm The Riverside Company. Intertek said it was buying on a cash and debt-free basis. Cobham saw sales slump over the first half of the year as it ran into trouble with Boeing on the KC-46 tanker programme. But following divestments during the period, management argued that the resulting company was now more focused and the balance sheet stronger. Paper manufacturer Mondi led the FTSE 100 as it reported a 6% rise in interim pre-tax profits of €490m (£436m) due to higher average selling prices and solid demand across its packaging businesses. Plastics supplier Essentra was boosted as said returned to profit growth, unveiling a 7% rise in half-year pre-tax profits to £21m as revenue fell to £513.1m from £522.6m, but was unchanged on a like-for-like basis. IAG flew lower as it issued its results for the six months ended 30 June on Friday, reporting second-quarter operating profit of €835m before exceptional items, up from a restated €790m a year ago but below consensus forecasts. The FTSE 100 owner of British Airways said it was still interested in low-cost rival Norwegian Air. William Hill was a big faller reported a £819.6m loss before tax for the 26 weeks to 27 June, down from a £93.1m profit a year earlier. This included £882.8m non-cash impairment taken as a result of the government's triennial review into FOBTs and also £29.9m of exceptional costs relating to restructuring, which is expected to see further costs of around £15m in the second half. AstraZeneca and Merck said the European Medicines Agency (EMA) has granted orphan designation to selumetinib, a MEK 1/2 inhibitor, for the treatment of neurofibromatosis type 1 (NF1) an incurable genetic condition that affects one in 3,000 newborns worldwide. |
| | Invest in the revolutionary combustion technology that’s reducing emissions and cutting costs – with 400% Projected ROI by year 3 Find Out More |
| | Market Status | Top 10 FTSE 100 Risers| Sponsored by Interactive Investor | 
| | |
Top 10 FTSE 100 Fallers| Sponsored by Interactive Investor |
| | |
|
| | eToro Daily Update 30/07/2018 | | TradeYour capital is at riskBecome a Professional Trader on eToroOnly 2 Days left: New ESMA regulations will come into effect on August 1st. Make sure you are up-to-date on the... Read More.. |
| | Europe open: Banks lift bourses despite mixed services data | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | All of Europe's stock exchanges were in the black on Friday morning after the release of services sector data and reports on Brexit negotiations. The Stoxx 600 benchmark was up 0.3% to 387.95, led by a 0.4% gain in Frankfurt for the DAX to just over 12,600, a 0.3% increase for London's headline index to almost 7,600 and the CAC 40 in Paris up 0.22%. In Rome and Madrid FTSE MIB and Ibex 35 were both flirting with the flatline. The main risk event today across global markets is the US non-farm payrolls report later, said analyst Jasper Lawler at London Capital Group. The Labour Department's jobs report will be released at 1330 BST. Expectations are for 192,000 jobs to have been created in July, slightly down from June's 213,000 but still a solid number. Meanwhile US unemployment is expected to have ticked back to 3.9% from 4% in June, while average hourly earnings are expected to have increased 0.3% on the month in July, up from June's 0.2%, growing at 2.7% year-on-year for the third straight month. Lawler said stocks were higher in Europe on the back of Apple's ascent to becoming the first $1trn company, lifting the tech sector and enabling a recovery on Wall Street after a weaker start. "Escalating trade tensions, after China promised a retaliation if Trump pushed ahead with higher tariffs, were soon overshadowed by a surge in Apple's share price to $207.39 taking it to the magical $1 trillion. This has lifted the mood of the market, boosting the Nasdaq and the S&P to close in the black." There were also reports that the European Union is prepared to compromise on its post-Brexit solution for the Irish border so that agreement can be reached on the withdrawal bill before the October deadline. But while chief EU negotiator Michel Barnier's comments raised hopes that the two sides can find a breakthrough in Brexit talks that are stalled because of differences over the border, he also warned in article published in 20 newspapers across the continent that Theresa May's recent white paper would "undermine" the EU single market. Switching her Italian holiday for a trip to French premier Emmanuel Macron's island retreat, the Fort de Brégançon, on Friday, the PM May was reported to be aiming to try persuade him that her plan for Brexit will be "mutually beneficial" to Britain and France". The July purchasing managers' index report for the services sector showed an unexpected decline for the euro area to 54.2 from 54.4, with Germany, France and Spain all disappointing but Italy beating expectations. After manufacturing, construction and services reports this week, the over pace of economic expansion was shown to have eased in July, ceding most of the momentum gained in the prior month, survey compiler IHS Markit said, with the service sector's growth easing from June's four-month high. IHS director Rob Dobson said: "The final PMI numbers confirm the euro area economy started quarter three on a softer footing. July saw rates of expansion in both output and new orders cede the momentum recaptured in the prior survey month, returning to a picture of sliding growth rates seen through much of the year-to-date. "If the headline index continues to track at its current level, quarterly GDP growth over the third quarter as a whole would be little-changed from the softer-than-expected expansion of 0.3% signalled by official Eurostat data for quarter two. "The outlook seems to be turning into a straight choice between the upturn being sustained at its current subdued pace or rising headwinds reining in growth further during the months ahead. On this front, downside risks are more prevalent, as the slower expansion in new order inflows during July was partnered by a tandem dip in business optimism to a 20-month low. Both are reflecting the uncertainty about global market conditions, especially given the ongoing rhetoric about trade wars and the potential spillover effects to the broader economy and to manufacturing in particular." Financial stocks were also a boost to European bourses, with France's Credit Agricole and Britain's Royal Bank of Scotland following sector peers with mid-year results. A strong investment bank performance at Credit Agricole led to second-quarter net profits of €1.4bn, which were up 20% year on year to the highest level since IPO and ahead of analyst estimates of €980.7m. CEO Philippe Brassac said the corporate and investment banking growth was driven by financing activity amid strong market activity levels, the positive effect of the rise in the oil price on the trade finance activity and "several jumbo deals". Analysts at Jefferies said the bank reported a "strong set of results showing the flexibility of the group, i.e. good revenue growth and cost flexibility to offset slowdown in some divisions". Fellow French bank Natixis saw second-quarter profits rise almost exactly the same degree to €580m, versus the €497m broker consensus. Natixis is the corporate banking division of unlisted French bank BPCE. Royal Bank of Scotland declared its first dividend since the financial crisis after a second quarter that was not as weak as expected. The taxpayer-owned bank reported a halving of profits in the second-quarter to £613m compared to the first quarter and the second quarter last year, compared to a loss of £340m that had been forecast. Heineken fizzed higher as the Dutch brewer clinked glasses on a massive tie-up with China's largest brewer. Heineken, the world's second largest brewer, will invest $3.1bn for a 40% stake designed to pave its own Silk Road into the People's Republic. China Resources Enterprise, which owns China Resources Beer, will also buy 0.9% of Heineken for €464m ($538m). |
| | Atlantic Advisory - Share Tips of the Year 2018 | | Download Our Latest Report Here Losses can exceed deposits |
| | Friday newspaper round-up: Brexit, Brexit, Brexit, BoE | | Political chaos has put companies off planning for a no-deal Brexit, research from a leading business group has revealed. Few companies are readying themselves for a no-deal scenario because they are “in the dark” about government plans, the Institute of Directors said. A survey of 800 business leaders carried out by the body revealed that less than a third had done any contingency planning. - Telegraph The European Union is prepared to compromise on its post-Brexit solution for the Irish border so that agreement can be reached on the withdrawal bill before the October deadline, the EU’s chief negotiator has said. Michel Barnier’s comments have raised hopes that the EU and UK can find a breakthrough in Brexit talks that are stalled because of differences over the border. - The Times ... Barnier's appeal for hearts and minds in Europe has warned that Theresa May’s Brexit proposals, put forward in the UK government’s recent white paper, pose a threat to the future of the European single market. In an article published in 20 newspapers across Europe, the EU’s chief negotiator writes: “The UK knows well the benefits of the single market. It has contributed to shaping our rules over the last 45 years. And yet, some UK proposals would undermine our single market, which is one of the EU’s biggest achievements. - Guardian Theresa May will try to convince Emmanuel Macron on Friday that her Chequers plan for Brexit will be “mutually beneficial” to Britain and France as she received official notice that their meeting is “not a negotiation”. The Prime Minister has cut short her Italian holiday to visit Mr Macron at his island retreat, the Fort de Brégançon, as she steps up attempts to engage directly with EU leaders, sidestepping Brussels’ chief negotiator Michel Barnier. - Telegraph ...But while senior Whitehall sources warned that the French president would be tough to win over, they suggested that his influence could prove vital in swaying the rest of the EU27 member states if May were successful. One Whitehall source claimed that France had been the most “disobliging” of the EU27 in multilateral discussions. - Guardian Britain’s Brexit negotiators have tapped into growing concerns in Brussels over Jeremy Corbyn’s plans for the British economy, by stressing in recent talks that the Chequers plan would tie any future prime minister to the EU’s evolving rules on state aid in perpetuity, according to EU sources. The anger of Conservative party Brexiters has focused on the plan to maintain EU regulations in relation to goods, but the UK has privately emphasised its unprecedented offer to bind future British governments’ hands on state spending as part of a deal. - Guardian The Bank of England is facing a backlash from businesses over its interest rate rise, with two of the biggest trade bodies calling it an “ill-judged” decision that threatened to undermine confidence and hurt investment. The British Chambers of Commerce and the Institute of Directors, who between them have 100,000 members and represent more than seven million employees, said that the decision to move interest rates to above 0.5 per cent for the first time since March 2009 was a mistake. They were joined by several economists who challenged the Bank’s view that inflation pressures were building. - The Times A legal challenge by landlords against House of Fraser’s plan to close more than half its stores is set to be heard on 14 August, potentially easing the way for a cash injection to save the struggling department store business from collapse. House of Fraser is battling for survival after Wednesday’s decision by the Chinese owner of Hamleys, C.banner, to pull out of a plan to invest £70m in the ailing retailer and buy a majority stake. - Guardian The broadband operator Hyperoptic has received £250m in new backing to challenge BT by connecting millions of homes with fibre-optic lines. The debt funding will be provided by a consortium of eight banks led by BNP Paribas and ING. It comes on top of £100m pledged by the same lenders last year. - Telegraph Shoppers turned to online retailers in large numbers rather than hitting the high street because of the hot weather in early summer. The latest figures from IMRG Capgemini show that online sales in May jumped by 19.4 per cent year-on-year, reflecting the biggest increase for May since 2010 and the strongest month overall since November 2016. Much of the uplift was driven by strong sales of footwear and garden items, which rose 54.4 per cent and 40.2 per cent year-on-year respectively. - The Times The former boss of Stobart expensed more than £4.5m over a three-year period, travelling on private jets and helicopters while racking up huge corporate entertainment costs which included bills referencing popstar Ronan Keating and horse racing sponsorship. According to recently-filed court documents, Andrew Tinkler spent £1.6m on premium travel between 2015 and 2018. A further £2.9m was claimed for corporate entertainment from late 2014 and to February 2018. - Telegraph Rents have risen 60% faster than wages across England since 2011, according to analysis from housing charity Shelter, which claims the crisis is spilling out of cities into “Middle England” towns such as Tunbridge Wells. The figures show that private rents have risen by 16% since 2011, outpacing average wages which have only risen by 10% over that period. Shelter analysed official data from the Annual Survey of Hours and Earnings and the Index of Private Housing Rental Prices. - Guardian Plans for the UK’s first self-funded rail link in more than a century have been submitted to the Department for Transport. According to its promoters, the Windsor Link Railway is relying on a funding model last seen during the Victorian heyday of the railway industry, when private investors paid for a project and reaped the profits. - Telegraph Google has been asked to release details of the amount spent on advertising from foreign bodies during the referendum on the Eighth Amendment. The Green Party is appealing to the internet company to release the data to academics as Facebook prepares to work with an Irish university on a similar project. It is understood that the project with University College Dublin’s Geary Institute would be the first of its kind in Europe. Facebook has already agreed to pass data on political adverts to public policy groups in the US. - The Times The Electoral Commission will not investigate the Democratic Unionist party over claims it coordinated its Brexit referendum campaign spending with Vote Leave in order to break legal spending limits. The Northern Irish party, which props up Theresa May’s government in the Commons, had faced a series of allegations about its spending during the 2016 EU referendum, after it spent hundreds of thousands of pounds campaigning to leave the bloc. - Guardian Ukip’s membership has soared by 15% in a month, insiders have revealed, raising the prospect of a return to the mainstream of a party still publicly associated with Brexit, but which has recently taken a more hard-right nationalist stance. The arrival of nearly 3,200 new members in July, and a boost in the pollsfrom around 2% to 5% or more, follows Theresa May’s Chequers plan. Senior Ukip members say they believe many people are returning from the Conservatives. - Guardian | | | | 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