| Bargain Blue Chips 5 stocks trading significantly below their 2018 highs Seeking out undervalued companies that can offer attractive potential for a bounce back to what investors feel represents their "fair value" is a strategy often favoured by FTSE investors. With this approach in mind, our latest report looks at 5 Bargain Blue Chip stocks; medium-term charts, potential support and resistance levels, broker recommendations and target prices 78% of retail clients lose money, consider affordability. Get the report here » | | | London open: Stocks steady as investors eye BoE, ECB rate announcements | | | | | London stocks were steady in early trade on Thursday as investors looked ahead to the latest rate announcements from the Bank of England and the European Central Bank. At 0830 BST, the FTSE 100 was flat at 7,311.86, while the pound was down 0.1% against the dollar at 1.3038 and unchanged versus the euro at 1.122. Investors are expecting no change to the interest rate or the asset purchase programme from the BoE, which hiked interest rates last month for the first time since the credit crisis. CMC Markets analyst David Madden said: "The recent solid growth figures and the impressive earnings report vindicates the central bank for hiking rates. Not long after the hike, we heard from Mark Carney, the BoE chief, who essentially said we could see one rate hike per year for the next few years. This week it was confirmed that Mr Carney will stay on in his role to provide stability. "The developments regarding the UK’s exit from the EU is having a bigger impact on the pound than the economic updates, and dealers will be paying close attention to the situation." The BoE rate announcement is at 1200 BST, while the ECB will also announce its latest policy decision at 1245 BST, with no changes expected there either. Madden said: "The ECB made it clear they are keen to wind down the remainder of the bond-buying scheme at the end of this year, and traders will be listening carefully to any commentary regarding this matter. The latest inflation figures from the eurozone showed a slight pullback in the cost of living, and this will be a bit of a worry for Mario Draghi, the head of the ECB, as demand diminished." In corporate news, GVC Holdings was the standout gainer after it posted a jump in half-year pre-tax profit as revenue rose amid strong momentum in the online and European retail segments and thanks to a boost from the World Cup, as it identified further cost savings from its Ladbrokes Coral acquisition. Legal & General was in the green as it completed a £4.4bn buy-in for the British Airways pension scheme, 'Airways Pension Scheme’ (APS), covering nearly 22,000 pensioners. Morrisons fell even as it more than doubled its interim dividend after like-for-like sales in the first half grew at the fastest rate since 2009. Group LFL sales excluding-fuel were up 4.9% in the six months 5 August after an acceleration to 6.3% in the second quarter from the 3.6% in the first. Debenhams dropped after Sports Direct clarified overnight that it does not currently intend to bid for the struggling department store chain, in which it has a 29% stake. Sports Direct shares were also weaker. In broker note action, Kaz Minerals was upgraded to 'buy’ at HSBC, while Antofagasta was lifted to 'hold’. Aviva was started at 'add’ by Investec, while Diageo was added to Citi’s focus list for Europe and N Brown was downgraded to 'hold’ at Stifel. Ex-dividends took 0.25 points off the FTSE 100 and 11 points off the FTSE 250, with Assura, BBA Aviation, BCA Marketplace, Bakkavor, Cineworld, Computacenter, Derwent, Equiniti, Gocompare, Inmarsat, and Melrose Industries all in the frame.
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| | | eToro Daily Update 13/09/2018 | | | | Today’s highlights: Trade talk rumors lift Wall Street and Asian markets - Wall Street closes slightly higher: Rumors of a new round of trade talks between the US and China was enough to get the Dow Jones and S&P 500 to a positive close. In contrast, the Nasdaq finished lower, as tech stocks such as Apple, Facebook and Google registered losses.
- Asia seen higher: Markets in the East also had a positive reaction to the China-US trade talk rumors, as the Nikkei, China50 and Hang Seng all registered gains this morning.
- Slight gains seen in crypto markets: Bitcoin continued its slow and steady recovery this morning, climbing above the $6,400 mark, joined by 8 other top 10 cryptos. Ethereum had the biggest price spike over the past 24 hours, up by more than 7% at the time of writing.
Read More.. | | | US close: Markets mixed as Apple fails to fire up investors | | | | | Trading on Wall Street finished on a mixed note on Wednesday, as investors poo-pooed tech giant Apple's annual product release event, and reacted to the release of a weaker-than-expected reading on the producer price index for August. The Dow Jones Industrial Average was up 0.11% at 25,998.92 and the S&P 500 added 0.04% tp 2,888.92, while the Nasdaq 100 fell 0.26% to 7,488.06. Trade relations between the US and China were likely to remain in focus after it emerged on Tuesday that Beijing will ask the World Trade Organisation for permission to impose sanctions on the US next week over an anti-dumping dispute that dates back to 2013. “With China involving the WTO in the dispute and the US preparing more tariffs - and threatening an eventual tariff on all imports - it doesn’t appear this threat is going away any time soon and is something we should just get used to,” said Oanda analyst Craig Erlam earlier. “This could work to the advantage of the EU with Trump engaging in negotiations in an attempt to forge closer trade ties, remove barriers and eliminate the apparent need for new tariffs.” As far as Apple was concerned, CMC Markets analyst Michael Hewson noted widespread speculation of an upgrade to the £1k iPhone X, with the release of the iPhone XS, ahead of the launch event during the afternoon. "Not only that, we’ll probably get upgrades to the iPhone 8, as well as a new Apple Watch, along with some upgrades to the various tablet versions, though the iPad mini may well be on borrowed time given we haven’t seen an upgrade to that since 2015.” Hewson was mostly right, with the Californian tech behemoth taking the wraps off two updated versions of the iPhone X - the XS and the XS Max - as well as a pared-down version called the XR, and a new Apple Watch. But investors showed their disdain for the largely iterative designs, and there was no word on the iPad product range. Apple shares finished down 1.24%. Elsewhere, Bausch Health surged 13.88% after saying it has reached an agreement in a patent dispute over 550 mg tables of Xifaxan, a treatment for irritable bowel syndrome. Managed-care provider WellCare Health Plans was likely to be in focus following news that it will replace XL Group in the S&P 500, though its shares were down 1.73%. Meanwhile, shares of T-Mobile US and Sprint were active, rising 3.05% and 3.78% respectively, after the Federal Communications Commission paused its 180-day clock for reviewing the merger of the two companies. | | | Atlantic Advisory - Share Tips of the Year 2018 | | | Thursday newspaper round-up: Brexit, RBS, Sports Direct, Vodafone | | | | | Theresa May’s Brexit plans have been dealt a blow after the Democratic Unionist Party backed a rival plan drawn up by Tory rebels to allow the UK to leave the EU's single market and customs union without a hard border in Ireland. The European Research Group published a paper calling for equivalence of UK and EU regulations and conformity assessment for all agricultural goods on the island of Ireland. - Telegraph Angela Smith, Labour’s leader in the Lords, hopes to use an audacious parliamentary manoeuvre to offer MPs the chance to strike out controversial amendments on the Irish backstop and the customs union, forced through by hardline Brexiters in July. The taxation (cross-border trade) bill, was amended at the behest of Jacob Rees-Mogg’s European Research Group to outlaw a customs border in the Irish Sea, and force the government to legislate before it could join a customs union, among other issues. - Guardian Royal Bank of Scotland could use up to £4 billion of surplus capital to pay out a special one-off dividend to shareholders, its chairman Sir Howard Davies told The Times yesterday. While his preferred choice was to use the spare cash to buy RBS shares from the government, Sir Howard said that the dividend, worth about 33p per share to investors, was an option if shareholders wanted it. - The Times A leaderless world is sleepwalking towards a repeat of its near meltdown in late 2008 and early 2009 because it has failed to remedy the causes of the financial crash of a decade ago, former prime minister Gordon Brown has warned. Britain’s leader during the period when the collapse of the US investment bank Lehman Brothers put every major bank at risk, said that after a decade of stagnation the global economy was now moving into a decade of vulnerability. - Guardian The Takeover Panel has been forced to intervene after a Sports Direct director caused confusion by saying the retailer has considered buying Debenhams - before insisting he did not intend to make the comment. The intervention by the City watchdog for corporate deals prompted Sports Direct to issue a formal statement confirming it did not plan to make a bid for the struggling department store chain for six months. - Guardian New York has overtaken London as the number-one city in the world for finance, according to an influential study. The US city took the top spot in the Z/YEN, Global Financial Centres Index, which measures financial centres on a range of factors including business environment, infrastructure, skills and reputation. - Telegraph Money flowing into the UK funds industry has hit a record high, despite the City of London losing its status as a top financial centre due to Brexit. Hopes are being pinned on Britain's money managers after a closely-watched study showed that Wall Street had overtaken London as a top financial centre for the first time since 2015 amid Brexit uncertainty. - Telegraph Vodafone is moving ahead with its plans to connect homes in Milton Keynes with "gigafast" broadband, saying some parts of the city will have access to the service from October. The firm had been piloting the service over the summer, and said initially the "Vodafone Gigafast Broadband" will be available to around 3,700 homes, before being rolled out across the whole of Milton Keynes by 2020. - Telegraph Treasury officials are “too young and inexperienced” to make good decisions about where best to spend taxpayers’ money, a think tank has claimed. The Institute for Government urged the Treasury to ditch its dependency on “generalists” and to professionalise staff, even if it meant raising pay. The average age of a Treasury official is 31 and one in four leaves the department every year, it noted. - The Times The median US household income jumped last year to $61,400 - roughly matching what Americans were making before the great recession. The median income went up by 1.8% from 2016, the third year in a row it has increased, according to data released by the US Census Bureau on Wednesday. - Guardian Businesses are failing to train up young workers from poor families, missing an opportunity to solve the skills crisis and to improve social mobility at the same time, an industry leader has warned. Balfour Beatty chief executive Leo Quinn said it is a “tragedy” that businesses and wider society are losing out as a result. - Telegraph Beijing has suspended the acceptance of licence applications from American companies as a retaliatory measure in its escalating trade war with Washington. Jacob Parker, vice-president of China operations at the US-China Business Council, said that he had been told by cabinet-level Chinese officials that the measure would be in place “until the trajectory of the US-China relationship improves and stabilises”. - The Times Ryanair boss Michael O’Leary has told Chris Grayling to “get off his backside” and strike a deal with the EU to avoid flights being grounded by a no-deal Brexit, in a swipe at the transport secretary’s overtures to individual countries. O’Leary, who has transformed the no-frills airline into Europe’s largest during his 25-year tenure, referred to Grayling’s efforts to convince 27 EU member states to prepare bespoke aviation deals with the UK. - Guardian British Airways has been named as the most polluting transatlantic airline, amid concerns over its reliance on “inefficient” long-haul aircraft such as the jumbo jet. A study by the International Council on Clean Transportation (ICCT) placed BA bottom out of 20 leading airlines, finding that the British flag carrier burnt more fuel per passenger than any of its competitors, and 22 per cent more than the industry average on busy flight routes between North America and Europe. - The Times Jean-Claude Juncker has called on the European Union to champion the euro as a global currency to rival the dollar and demanded more powers for Brussels to flex its muscles on the world stage. In his annual flagship speech, the president of the European Commission also said EU governments should lose their individual veto over tax laws from Brussels. - Telegraph | |
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