| 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 flat as Trump ramps up trade war; Ocado rallies | | | | | London stocks were steady in early trade on Tuesday, with investors seemingly keeping their cool as US President Donald Trump slapped more tariffs on China. At 0850 BST, the FTSE 100 was flat at 7,300.83, while the pound was down 0.2% against the dollar at 1.3134 and 0.1% lower versus the euro at 1.1249. Trump announced late on Monday that he was imposing 10% tariffs on $200bn worth of Chinese imports, a levy that will be raised to 25% from January. If Beijing retaliates, the US will impose tariffs on an additional $267bn of Chinese goods. "We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly," Trump said in a statement. "But, so far, China has been unwilling to change its practices." Mike van Dulken at Accendo Markets, said: "Piling further pile pressure on Beijing, and just like last time, Trump has already laid the groundwork for more tariffs, saying he has his eye on the remaining $267bn of Chinese imports to the US if Beijing retaliates. "Nonetheless, sentiment resilient with Chinese equities staging a late rally and Japan reacting as a potential beneficiary." In corporate news, Ocado was the standout gainer after saying it kept up the pace of growth in the third quarter as its fourth robot-operated warehouse got up to speed in record time. Revenues of £348.6m in the 13 weeks to 2 September rose 11.5% on the same period last year, as average orders per week grew 11.4% to 283,000 BBA Aviation rallied as it acquired Firstmark, an aerospace focused aftermarket service provider, for $97m. Specialist lender Paragon Banking Group advanced as it reiterated its guidance for the year and said it continues to operate in line with the board’s expectations. Shares in Jardine Lloyd Thompson surged more than 30% after the insurance broker agreed to be bought by Marsh & McLennan for around £4.3bn. Spire Healthcare tumbled as it reported a drop in first-half profit and downgraded its annual guidance after an "unprecedented decline" in admissions of NHS patients. Aerospace engineer Meggitt fell as it said that Louisa Burdett, former group finance director of Victrex, will succeed Doug Webb as chief financial officer. In broker note action, Polymetal was lifted to 'outperform’ at RBC Capital Markets, Fresnillo was upgraded to 'top pick’. Centrica was upgraded to 'buy’ at Goldman Sachs, while Spectris was boosted to 'outperform’ and IMI was downgraded to 'underperform’ at Exane BNP Paribas. CYBG was cut to 'hold’ at Berenberg, which also initiated coverage of Wizz Air and IAG at 'buy’, Ryanair at 'hold’ at EasyJet at 'sell’. Imperial Brands and BAT were reinstated at 'underweight’ and 'equalweight’ by Morgan Stanley. | | | | Top 10 FTSE 100 Risers| Sponsored by Interactive Investor | 
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| | | | | Invest in the revolutionary combustion technology that’s reducing emissions and cutting costs – with 400% Projected ROI by year 3 Find Out More | | | US close: Markets in the red as Trump turns up China rhetoric again | | | | | US stocks finished Monday’s session in the red, as trade tensions between the US and China escalated, with the Trump administration set to implement a fresh round of punitive tariffs on a further $200bn worth of Chinese goods. The Dow Jones Industrial Average ended the day down 0.35% at 26,062.12, the S&P 500 was off 0.56% at 2,888.80, and the Nasdaq 100 slid 1.47% to 7,434.73. According to reports from the Wall Street Journal over the weekend, Beijing was considering declining the US administration's offer of negotiations later this month after Trump instructed aides to press ahead with tariffs of 10%. Trump tweeted on Monday: "Tariffs have put the US in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been almost unnoticeable. “If countries will not make fair deals with us, they will be Tariffed!,” he tapped out. City Index market analyst Ken Odeluga said the ongoing spat could have a negative effect on the US tech sector, and thus on the Nasdaq 100, which has had a stellar year, adding 17.64% by 29 August. “A key investor worry then, is that Washington’s dispute with China combined with increasing regulation could create bigger obstacles for the web, streaming, e-commerce and software giants that are dependent on global consumption and dominate Nasdaq 100,” Odeluga noted. “Such worries came to a head again on Monday amid signs that the White House could impose the latest round of tariffs on China at almost any moment.” On the data front, business conditions in the New York region deteriorated in September, according to a survey from the New York Fed. The Empire State manufacturing index fell to 19.0 from 25.6 in August, missing expectations for a reading of 23.0. According to the survey, 40% of respondents reported an improvement in conditions over the month, while 21% reported a worsening. The new orders index was little changed at 16.5 and the shipments index fell 11 points to 14.3. Employee numbers held steady at 13.3, while the prices paid index was also steady at 46.3. In corporate news, shares of DowDuPont were up 0.35% after the company said that chief executive Edward Breen will assume the position of executive chairman of its speciality products divisions once it separates into three different units. Elsewhere, Teva Pharmaceutical Industries reversed earlier losses to end the day ahead by 2.54%, after the US Food and Drug Administration approved its migraine treatment. FedEx managed gains of 0.11%, while Oracle was down 0.14% after reporting their earnings shortly before the opening bell. | | | eToro Daily Update 18/09/2018 | | | | Today’s highlights: Wall Street impacted by Trump’s import tariffs - Trump’s new tariffs weigh on markets: President Donald Trump yesterday announced new 10% import tariffs on $200 billion in Chinese imports, saying they will rise to 25% by the end of the year. Following the announcement, Wall Street finished lower, as the Dow Jones, Nasdaq and S&P 500 all closed in the red. Futures indicate that the Dow Jones and S&P 500 will also open lower today.
- Asia seen mixed: Despite the new tariffs, markets in the East were not all lower this morning, as the Nikkei and China50 indices registered gains, including a 1.3% spike by the former at the time of writing. In contrast, the Hang Seng index opened lower.
- Crypto markets show correction: Following a positive opening to the week, the cryptocurrency market showed a correction over the past 24 hours, as all top 10 cryptos were in the red. Bitcoin was down more than 3%, dropping below the $6,300 mark, and Ethereum dipped more than 10%, once again falling below the $200 mark.
Read More.. | | | Tuesday newspaper round-up: Tariffs, taxes, tech, Brexit | | | | | Donald Trump has intensified his trade war with China by imposing new import tariffs of $200bn on Chinese goods arriving in the US from next week. The US president announced the tariffs in a statement, saying: “If China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267bn of additional imports.” - Guardian The European Union is insisting on cast iron guarantees that Britain will not attempt to reopen the terms of any Brexit deal after it has been signed, confidential diplomatic notes reveal. In a rebuff to Michael Gove, Brussels is preparing to demand that Theresa May makes “credible” assurances that any deal will not be unpicked by her successor. - The Times Four American multinational drug companies underpaid an estimated £124 million of tax a year in Britain, according to Oxfam. An analysis of the accounts of Pfizer, Johnson & Johnson, Merck and Abbott by the charity found the companies appeared to be avoiding £2.9 billion a year in taxes in nine advanced economies, including the UK. - The Times The Treasury will lose more than £100m for every year that it postpones curbs on bookmakers’ fixed-odds betting terminals (FOBTs), according to a report from the Centre for Economic and Business Research. The government has agreed to slash the highest-permitted stake on FOBTs from £100 to £2 after concluding that they are a “social blight”, but it is considering postponing the change until 2020. - Guardian Taxes should rise to pay for the government’s £20 billion gift for the NHS, the International Monetary Fund has said as it urged Britain not to take a chance with the public finances. Britain’s national debt remains “relatively high” and bringing it down “is important to create buffers that will allow the public finances to weather future shocks”, the world’s financial and economic watchdog said in its annual health check on the UK economy. - The Times Michel Barnier has backed Spanish plans that would force Gibraltar to end its status as an offshore tax haven after Brexit. After talks with Pedro Sánchez, the Spanish prime minister, Europe’s chief negotiator said that he would offer “all his support to Spain” in its demands for changes to how Gibraltar operates. - The Times Twelve million people in Britain have been harmed by social media and the internet because online firms like Facebook and Twitter escape regulation, the broadcasting watchdog Ofcom will warn on Tuesday. Sharon White, the regulator's chief executive, will reveal research showing that one in five people in the UK have experienced harmful content or conduct ranging from bullying and harassment to fraud and violence. - Telegraph Santander, the Spanish banking group, is reported to be in talks to buy the City stockbroker Peel Hunt. A senior industry figure said the deal would give Santander access to a profitable business with a strong platform in London and high-profile corporate accounts. - The Times High gas prices have triggered a resurgence in electricity generation from coal as it becomes the cheaper option. Britain could see its first increase in carbon emissions in six years if coal-fired power plants continue to undercut gas ones, according to Imperial College London. US activist investor ValueAct has doubled its stake in British gene-editing specialist Horizon Discovery after agreeing a deal to buy the shares from Neil Woodford. ValueAct now owns nearly 10pc of Horizon, with Mr Woodford's stake trimmed to 18pc. - Telegraph Vodafone is considering offloading more than 50,000 mobile phone masts to reduce its debt pile, its new chief executive has revealed. Nick Read, who will succeed Vittorio Colao next month, said that it could sell a stake in its European towers business. He added that he was also considering “a potential IPO in New Zealand”. - The Times Saudi Arabia's sovereign wealth fund is investing more than $1bn (£760m) in US electric car company Lucid Motors, after plans to take Tesla private collapsed earlier this year. The Public Investment Fund (PIF) said the money would help Lucid to launch its first commercial electric vehicle, called the Lucid Air, in 2020. - Telegraph Kweku Adoboli, the banker convicted of the UK’s biggest fraud, has been given a last-minute reprieve from deportation as a judge awarded a judicial review of his case. Adoboli, 38, was found guilty in 2012 of fraud that lost his employer UBS $2.3bn (£1.8bn), and he was due to be deported to Ghana on Tuesday. - Guardian The holding company of what remains of Yahoo is to settle claims following a 2013 data breach for $47m (£36m), five years after the cyber attack saw details of 3 billion users stolen. Altaba, a holding company made up the parts of Yahoo not bought in Verizon's acquisition of the internet company, said it had agreed to settle a consumer class action litigation following the data breach. - Telegraph The number of dirty diesel vehicles pumping out toxic emissions on Europe’s streets is still rising three years after the Dieselgate scandal began, according to a new report. More than 7m such cars and vans remain on UK roads alone. - Guardian Investment from Asia is pouring into the City of London property market, with the amount spent on office blocks by South Koreans about to reach a record high. They are expected to have invested £3 billion by the end of this year, according to Savills, the property consultancy, making them the largest foreign buyers. - The Times No one struts down a catwalk quite like Naomi Campbell. And, legal experts argue, anyone who tries should find themselves accused of breaching her copyright. - The Times The only group that prepares Britons for cryogenic freezing has overturned a decision to remove it from the charity register after criticism of its handling of the body of a 14-year-old girl. The Human Organ Research Preservation Trust said a tribunal’s ruling that it is a genuine charity was an important step in establishing cryonics as a “legitimate field” of work. - The Times | | | Atlantic Advisory - Share Tips of the Year 2018 | |
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