| 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 rise despite Carney comments hitting housebuilders | | | | | London stocks rose in early trade on Friday, taking their cue from a positive session on Wall Street as investors eyed comments from Bank of England governor Mark Carney. At 0840 BST, the FTSE 100 was up 0.4% to 7,312.94, while the pound was up 0.1% against the dollar at 1.3121 and flat versus the euro at 1.1207. Investors were digesting a slew of Chinese data releases, with industrial production, retail sales and fixed asset investment all out earlier, as well as reports of comments from Carney given to Theresa May's Cabinet overnight. In a private Downing Street briefing, BoE Governor warned ministers that a "no-deal" Brexit could see house prices crash by a third, according to reports from the BBC and Sky. Carney laid out three different scenarios the Bank believes could come to pass if Britain leaves the EU without a withdrawal agreement, with the worst-case scenario being Britain going into recession, with a further slump in the value of the pound and a 35% fall in house prices over three years. This put housebuilding stocks under pressure on Friday, with Barratt Developments, Taylor Wimpey, Persimmon and Berkeley all firmly in the red. There are no UK data releases of note due on Friday, but market participants will be eyeing more comments from Carney in a speech he will give in Dublin at 1100 BST, with some key US data in the afternoon including retail sales and inflation. As far as trade relations are concerned, there had been some hope of progress in recent days after Chinese officials welcomed an invitation for new talks from US Treasury Secretary Steve Mnuchin. However, a tweet from US President Trump on Thursday did little to assuage nerves, as he said: "The Wall Street Journal has it wrong, we are under no pressure to make a deal with China, they are under pressure to make a deal with us. Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?" Deutsche Bank said in a note that its economists expect a negotiated settlement between the US and China over the coming quarters, with only a minimal negative impact of tariffs on global GDP growth. “We note that global PMI new export orders tend to move in line with overall global PMI new orders, which we expect to pick up, helped by improvements in euro area and China PMIs," DB said. In corporate news, Shire was among the gainers after Japan’s Takeda Pharmaceuticals' acquisition of the London-listed company was approved by Chinese regulators. Investec surged after saying interim profit should be ahead of last year and announcing plans to demerge and publicly list it asset management arm. Sirius Minerals rallied after it secured a new $250m funding deal with Australia's Hancock Prospecting that would help fund a polyhalite project in Yorkshire. Close Brothers advanced as it announced the sale of its retail point of sale finance business, Close Brothers Retail Finance, to Swedish payment solutions group Klarna for an undisclosed sum. JD Wetherspoon was in the red even as it reported profits slightly ahead of forecasts. The pub group's like-for-like-sales rose 5.0%, which was short of the 5.2% expected, but profit before tax rose 6.2% to £107.2m versus forecasts for nearer £106m. AstraZeneca fell after it and its global biologics research and development arm MedImmune were given approval from the US Food and Drug Administration for a treatment for hairy cell leukaemia. In broker note action, Safecharge was upgraded to 'overweight’ by Barclays, while EnQuest was cut to 'equal-weight’. Whitbread was lifted to 'overweight’ at JPMorgan. | | | | | Invest in the revolutionary combustion technology that’s reducing emissions and cutting costs – with 400% Projected ROI by year 3 Find Out More | | | | Top 10 FTSE 100 Risers| Sponsored by Interactive Investor | 
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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 finish higher as Apple surges on new phone range | | | | | Trading on Wall Street finished on a positive note on Thursday, with shares of Apple well into the green the way as investors welcomed the latest developments between the US and China on the trade front. The Dow Jones Industrial Average was ahead 0.57% at 26,145.99, the S&P 500 added 0.53% to 2,904.18, and the Nasdaq 100 was 0.98% higher at 7,561.69. Trade relations remained in focus after US officials invited China to new trade talks, which the Chinese foreign ministry welcomed. “A collective sigh of relief across financial markets and investors has been noticed following the latest reports that the United States has proposed fresh trade talks with China,” said FXTM research analyst Lukman Otunuga. "While this is not the first time there has been optimism around negotiations between Washington and Beijing. “The talks are overall a positive step that both sides are willing to diffuse tensions between the two largest economies in the world.” On the data front, the rate of gains in US consumer prices slowed last month, as medical commodities and services prices dipped. Apparel and commodity prices outside of food and energy also fell. According to the Bureau of Labor Statistics, headline consumer prices rose at a month-on-month clip of 0.2%, which pushed the annualised rate of gains to 2.7%, which was down from 2.9% in the month before. Economists had penciled-in a smaller slow down to 2.8%. Elsewhere, the number of Americans filing for unemployment benefits unexpectedly dropped last week, according to data from the Labor Department. US initial jobless claims fell by 1,000 from the previous week’s revised level to 204,000, beating expectations for an increase to 210,000 and marking the lowest level since 6 December 1969. The previous week’s level was revised up by 2,000 to 205,000. Meanwhile, the four-week moving average declined by 2,000 from the previous week’s average to 208,000, also marking the lowest level since 6 December 1969 In corporate news, Apple advanced 2.42% after unveiling its new products on Wednesday at its annual product launch event in Cupertino, California. The tech giant unveiled three new iPhones and announced its next-generation Apple Watch series 4. RBC Capital Markets said there was "something for everybody", with the new product announcements highlighting the company's goal of addressing a broader consumer market while focusing on improving average selling prices and profitability. “We believe Apple's current stock price creates an attractive entry point for investors to benefit from its ability to generate revenue and earnings per share growth in FY18," RBC said. Meanwhile, shares in grocery chain Kroger tumbled 9.93% after the release of its second-quarter earnings. | | | Atlantic Advisory - Share Tips of the Year 2018 | | | Friday newspaper round-up: RBS, Carillion, house prices, Allianz | | | | | The Royal Bank of Scotland chief executive has been accused of withholding information from MPs investigating the bank’s mistreatment of small businesses. In a frosty exchange with Nicky Morgan, the Treasury committee chair, Ross McEwan rejected the suggestion that he had misled MPs at an evidence session into heavily criticised practices at the lender’s Global Restructuring Group. – Guardian Travellers who renew their passports face losing up to nine months’ validity due to a little-publicised change to rules brought in by the Home Office. Up until last week, when British citizens renewed their passports, time remaining on the existing document was added to the new one - up to a maximum of nine months. But passport applicants have been told this no longer applies and any remaining months will be lost if an attempt is made to renew the document early. - Guardian MPs have launched a fresh attack on the Government's system for monitoring risky public sector contracts in the wake of Carillion's collapse. Rachel Reeves and Frank Field, the respective heads of the business and work & pensions select committees, hit out at the Government's apparent refusal to review the use of so-called Crown Representatives, which they said had had the "wool pulled over their eyes" by the doomed outsourcer's bosses. - Telegraph German insurer Allianz has bought a 3.5pc stake, worth an estimated £18.7m, in the electric-powered racing series Formula E according to documents recently filed by its Hong Kong-based parent company. Allianz raced into Formula E in February last year after putting the brakes on its partnership with Formula One. It started off as a Formula E sponsor which gave it branding at races in cities such as Berlin, Paris and New York. - Telegraph House prices would fall by 35 per cent over three years after a chaotic no-deal Brexit, according to a stark briefing given to the cabinet by the Bank of England governor yesterday. Mark Carney told senior ministers that spiralling mortgage rates would cause a crash in the housing market. - The Times Hundreds of staff at the Financial Conduct Authority spent an afternoon learning African drumming earlier this week, just hours after the City Regulator’s chairman warned about the pressure on its budget. About 400 FCA staff spent several hours on Tuesday afternoon at the Queen Elizabeth II conference centre in London learning the use of drums as part of a corporate away day. - The Times | |
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