| 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 as miners rally; Sainsbury's Asda merger in focus | | | | | London stocks rose in early trade on Wednesday, helped along by a solid performance from the mining sector as investors eyed key UK inflation data. At 0830 BST, the FTSE 100 was up 0.5% to 7,334.63, while the pound was up 0.1% against the dollar at 1.3158 and 0.2% lower versus the euro at 1.1252 amid news that the European Union was willing to soften its stance on Brexit talks. As Prime Minister Theresa May travels to an informal leaders' summit in Salzburg to push her Brexit blueprint, the EU's chief Brexit negotiator Michel Barnier said overnight that he was "ready to improve" the bloc's offer on the Irish border. Meanwhile, the trade conflict between the US and China was still on investors' minds after China retaliated with new trade tariffs on $60bn of US goods after President Trump's fired off a 10% levy on another $200bn of Chinese imports - which could rise to 25% in the New Year. CMC Markets analyst Michael Hewson said: "China can afford to play a much longer game, particularly when it comes to the US electoral cycle. President Xi will be around long after Donald Trump has departed the White House. China’s economy may well be slowing down, but it is still growing at a decent pace, and the Chinese could make it very difficult for US companies operating in China by disrupting their supply chains, by implementing additional customs costs, or checks, with Apple being particularly vulnerable." Hewson said the story is likely to run a lot further as the extra costs of tariffs are likely to weigh on corporate revenues into 2019, with the prospect of additional escalations further down the line. He said any progress on trade remains "unlikely before the US midterms, which may help explain why markets have started to rebound in the past couple of days". There was some good news on the geopolitical front, as North Korea said it would close a key missile test facility and potentially destroy its primary nuclear complex if the US agreed to corresponding measures. In addition, after two days of talks, North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed to a number of non-military announcements, including plans to create rail and road links between the two Koreas within the next year and to submit a joint bid for the 2032 Summer Olympics. On the macroeconomic calendar, the retail price index, producer price index and consumer price index are all due at 0930 BST. Miners were the standout gainers, with Glencore, Anglo, BHP Billiton, Rio and Antofagasta all firmer as copper prices rose. Sainsbury's ticked higher as its merger with Asda was referred to an in-depth competition investigation with a deadline of March next year. The Competition and Markets Authority confirmed that the deal raises sufficient concerns to be referred for a more in-depth review, including on issues relating to fuel, general merchandise and increased 'buyer power’ over suppliers. Aveva surged after saying its full-year outlook remains in line with the board's expectations and that it aims to increase its adjusted EBIT margins to 30%. Babcock International rallied after the engineering services company said it is trading in line with its expectations, the order book and pipeline are strong and its outlook for the year is unchanged. Balfour Beatty edged up as it sold its 50% stake in Fife Hospital for £43m in cash to Semperian PPP Investment Partners, which will result in a profit of £22m for the FTSE 250 infrastructure group. Stagecoach advanced as the transport group said like-for-like revenue at its UK regional bus and rail operations has grown in the year to date. On the downside, B&Q owner Kingfisher shares slumped to around a seven-year low after posting a 15% drop in first-half profit on the back of a poor performance from its French business. John Laing Infrastructure slipped as it agreed the terms of its proposed £1.4bn takeover by a consortium of funds. In broker note action, HSBC cut Jardine Lloyd Thompson to 'hold', but SEE was double upgraded to 'buy' at Deutsche Bank and Smiths was initiated at 'buy' by Citi. | | | | 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 higher as investors shrug off trade concerns | | | | | US stocks were in the green by the closing bell on Tuesday, having earlier taken their cue from positive sessions in Asia and Europe as investors brushed off the latest escalation in trade tensions between the US and China. The Dow Jones Industrial Average ended the day ahead 0.71% at 26,246.96, the S&P 500 added 0.54% to 2,904.31, and the Nasdaq 100 was 0.8% firmer at 7,494.40. China fired back at the United States after Donald Trump ramped up his trade war with his biggest wave of tariffs against Beijing yet. The Chinese government promised to impose tariffs on $60bn worth of US goods following the White House's announcement that it was imposing 10% tariffs on $200bn worth of Chinese imports, a levy that will be raised to 25% from January. Trump vowed to impose tariffs on an additional $267bn of Chinese goods if it retaliated. "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." Pantheon Macroeconomics chief economist Ian Shepherdson said the imposition of the tariffs would not be a “game changer” for US growth, but would be visible - particularly after they rise from the initial 10% to 25% after 1 January. “The administration wanted to avoid playing Scrooge in the holiday season,” he quipped. “We don't know for sure how quickly importers will raise wholesale prices of the affected items, or how quickly manufacturers of substitutes for Chinese products will lift their prices. “But the very rapid pass-through when imported washing machines were subjected to tariffs earlier this year sets a disconcerting precedent.” On the data front, sentiment among US housebuilders was steady in September, according to data released on Tuesday. The National Association of Home Builders/Wells Fargo housing market index was unchanged from August at 67, beating expectations for a dip to 66. Meanwhile, the index measuring current sales conditions rose one point to 74, while the index of expectations for the next six months was up two points to 74. The gauge for buyer traffic was steady in September at 49. In corporate news, General Mills dropped 7.6% after its first-quarter profit beat expectations but sales fell somewhat short. AutoZone dipped 1.85% by the close after the release of the company's fourth-quarter earnings, and BorgWarner dropped 2.67% after cutting its profit and sales guidance. Elsewhere, Oracle was 0.31% in the red following its first-quarter numbers late on Monday. Viking Therapeutics soared 87.3% following positive results from its phase 2 trial on its NAFLD drug VK2809. | | | 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.. | | | Wednesday newspaper round-up: Brexit, Tesco, Tesla, Unilever, North Korea, BAE Systems | | | | Theresa May’s plans for a tough new immigration regime were given a boost yesterday after a key report called for an end to low-skilled migration from the EU after Brexit. A year-long independent report by the government’s advisers into the link between migration and the economy recommended a “global” system. This would make EU citizens subject to the same rules as immigrants from non-European countries after January 2021 and could mean that those who want to live in Britain for more than six months would need visas. - The Times EU migrants pay more tax than the average British adult, leaving the UK’s public finances at risk and making post-Brexit tax hikes more likely, according to Oxford Economics. Migrants from the EU contribute £2,300 more on average per year to the public finances than a UK-born adult, the study, commissioned for the Government’s Migration Advisory Committee, has claimed. - Telegraph Michel Barnier has rebuffed British calls for the European Union to soften its stance on the contested issue of the Irish border and said a “moment of truth” was fast approaching on a Brexit deal. May will appeal directly to EU leaders at a summit in Salzburg to soften their stance over UK access to the single market and customs union. She is expected to tell them on Wednesday night that Brussels needs to shift. - Guardian Tesco unveils its discount chain Jack's today as the major supermarkets continue to lose market share to Lidl and Aldi. Britain's biggest supermarket will reveal its plans to take on the discounters with a cut price offer of its own as it battles to win customers. The name is a nod to Jack Cohen who founded Tesco in 1919. - Daily Mail An estimated four million people have been charged almost half a billion pounds for mobile phones they already own, according to Citizens Advice. The charity said that EE, Three and Vodafoneroutinely continued to charge customers for handsets after they had paid them off in full. - The Times Tesla shares have plunged sharply after the US government launched a criminal investigation into the company. The Department of Justice has launched a fraud probe after chief executive Elon Musk tweeted last month that he had "funding secured" for a buyout of the electric carmaker. It was unclear at the time if this was the case. - Telegraph A series of websites, an app and a YouTube channel promoting Kinder chocolate and toys have been banned in the UK for aiming junk food advertising at children. The homepage of the Kindernauts website featured cartoons of a sun and rainbow, the promise of “fun activities” and prizes, a Kinder chocolate branded video showing children playing and a cartoon map leading to activities such as “becoming a bug detective” and “creating a butterfly feeder”. - Guardian Bitcoin and other online currencies are traded in a ‘Wild West’ market and watchdogs must intervene to stop investors losing everything, MPs claim. The Treasury Select Committee argues those who dabble in cryptocurrency are at risk of gambling away their life savings. - Daily Mail A fourth UK shareholder in Unilever has said that it will vote against the consumer group’s proposed move to relinquish its London headquarters. In a blow to Unilever and its boss Paul Polman, M&G Investments has come out against the plan to abandon the company’s 88-year Anglo-Dutch dual governance structure. - The Times North Korea has agreed to permanently dismantle and shut-down its missile launch pads in Dongchang-ri in the presence of international inspectors and to move towards the decommissioning of its Yongbyon nuclear enrichment site. After two days of talks in Pyongyang over denuclearisation and peace on the Korean Peninsula, Moon Jae-in, the South Korean president, and Kim Jong-un have pledged to hold more summits, with Kim promising to “visit Seoul in the near future”. - Telegraph Labour would ban the use of credit cards to place bets, affecting billions of pounds of transactions a year, as part of a crackdown on the gambling industry designed to tackle an “epidemic” of addiction. Deputy leader Tom Watson will this week publish the conclusions of the party’s year-long review of gambling regulations, which were liberalised under Tony Blair’s government in 2007. - Guardian BAE Systems has finalised a £5bn deal to sell 24 Typhoon fighter jets to Qatar. The order will help keep production lines open in Lancashire after thousands of the defence group’s jobs were axed last year. The deal also includes nine Hawk training aircraft as well as training for Qatar’s air force. - Daily Mail Beijing will impose tariffs on American products worth $60 billion next week after President Trump ordered $200 billion of new tariffs on Chinese goods in an escalating trade war between the world’s two largest economies. China said that it had “no choice” but to retaliate immediately, disregarding Mr Trump’s threat of further import duties on virtually all its exports to the United States. - The Times Dangerous flying debris and travel cancellations are expected as the first named storm of the season brings strong winds of up to 80mph to the UK and Ireland. Amber severe weather warnings for the north of England, Scotland and Northern Ireland were issued ahead of Storm Ali's arrival in the early hours of Wednesday. - Telegraph Ireland’s government has fully recovered more than €14bn (£12.4bn) in disputed taxes and interest from Apple, which it will hold in an escrow fund pending its appeal against a European Union tax ruling. The European commission ruled in August 2016 that Apple had received unfair tax incentives from the Irish government. Both Apple and Dublin are appealing against the original ruling, saying the iPhone maker’s tax treatment was in line with Irish and EU law. - Guardian | | | Atlantic Advisory - Share Tips of the Year 2018 | |
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