| 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 ahead of retail sales, Rio to the fore | | | | London stocks edged higher in early trade on Thursday as investors continued to brush off trade tensions between the US and China, and looked ahead to the release of UK retail sales data. At 0825 BST, the FTSE 100 was up 0.2% to 7,346.57, while the pound was 0.2% firmer against the dollar at 1.3174 and flat versus the euro at 1.1263. CMC Markets analyst David Madden said: "Trade tensions have stepped up, but you wouldn’t know it to look at European and US equity markets. The $200bn worth of tariffs from Trump, and Beijing’s reaction weren’t exactly a surprise. Investors are cautiously optimistic as that round of tariffs weren’t too severe. Equities in Asia overnight were mixed as the mood isn’t particularly strong one way or another. "The Trump administration and Beijing have hardened their positions, but as long as trading relations don’t take another sour turn, investors could remain upbeat." Brexit was also in focus after Prime Minister Theresa May urged EU leaders at a dinner in Salzburg on Wednesday to focus on agreeing a deal in the next two months and drop their "unacceptable" demands. May told the EU's other 27 heads of government that the UK will leave on 29 March next year and that the onus was on all of them to get a deal done. Meanwhile, a report overnight revealed an internal memo suggesting that May's party could force her to stand down soon after the March 2019 Brexit date. The dossier leaked to the Telegraph was said to have been widely circulated among Tory MPs, analysing the leadership of her cabinet colleagues and other contenders including Boris Johnson and Jacob Rees-Mogg. On the data front, retail sales figures for August are due at 0930 BST. In corporate news, Rio Tinto was the standout gainer as it outlined its plans to return around $3.2bn to shareholders through a share buyback programme following the disposal of its coal assets. British American Tobacco was just a touch higher as it announced that chief executive Nicandro Durante will retire next April after eight years in charge of the cigarette company. Inmarsat rallied as it announced that it and Panasonic Avionics Corporation have agreed a strategic collaboration to provide in-flight broadband for commercial airlines. On the downside, Diageo ticked lower after revealing that it has been buffeted in recent weeks by increased emerging market foreign exchange volatility. The drinks titan said that despite "increased volatility in some markets", it still expects organic net sales growth broadly in line with last year. Construction, services and property group Kier was in the red even as it posted a 9% rise in underlying full-year pre-tax profit thanks to a solid performance from all of its divisions and despite turbulence in its markets. IG Group tumbled after reporting a drop in first-quarter revenue as it took a hit from lower client activity amid new EU regulatory measures. Southend airport owner Stobart Group slipped as it said full-year results for its energy division are likely to be below expectations due to delays in commissioning. Saga fell as it announced the appointment of James Quin - formerly UK chief financial officer of Zurich Insurance Group - as group CFO with effect from 1 January 2019. In broker note action, Aveva was lifted to 'overweight' at Barclays, while Gem Diamonds and Petra Diamonds were started at 'buy' and 'hold' respectively at Berenberg. TP ICAP was upgraded to 'hold' at Shore Capital, while Boohoo was boosted to 'buy' by the same outfit. Weir was lifted to 'overweight' by Morgan Stanley. GVC Holdings, Crest Nicholson, Drax, Petrofac, Rank Group, Redrow, Renishaw, Sanne, Sophos, Unite and International Public Partnerships were among the companies whose stock went ex-dividend. | | | | | 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 20/09/2018 | | | | Today’s highlights: Wall Street mostly higher; oil at two-month high - Wall Street closes mostly higher: Both the Dow Jones and the S&P 500 closed higher yesterday, while the Nasdaq registered slight losses. Financial shares led the way, as Citigroup rose more than 3% and Morgan Stanley, Bank of America and Goldman Sachs all finished more than 2.5% higher.
- Cryptocurrencies mixed: Volatility was relatively lower in crypto markets over the past 24 hours, as 5 of the top 10 cryptos showed price changes of less than 1%. Bitcoin registered slight gains, trading just above the $6,400 mark at the time of writing. Of the top 10 cryptos, Cardano showed the largest uptick, rising more than 4%.
Read More.. | | | US close: Markets mixed ahead of post-Florence jobless claims | | | | | Wall Street trading ended on a mixed note on Wednesday, as the Dow moved closer to an all-time high, despite trade tensions between the US and China that were still weighing heavily on sentiment. The Dow Jones Industrial Average ended the session ahead 0.61% at 26,405.76 and the S&P 500 added 0.13% to 2,907.95, while the Nasdaq 100 slipped 0.05% to 7,490.32. Earlier, the Dow had jumped more than 100 points at the opening bell, as the broader market appeared to be shaking-off worries about the Sino-US trade conflict to an extent. The blue-chip benchmark was less than 1% short of its all-time high of 26,616.71. Market watchers were already looking ahead to Thursday’s initial jobless claims report, with Pantheon Macroeconomics chief economist Ian Shepherdson saying it was still too early for Hurricane Florence to be having much of effect on the data. “Jobless claims likely will rise sharply, though briefly, in the wake of Hurricane Florence, but we don't expect to see the hit in [Thursday’s] report,” Shepherdson said. “When people are running away from a hurricane, filing a jobless claim tends not to be at the top of their list of priorities.” He was expecting to see claims at around 210,000, up “trivially” from 203,000 last week and close to Pantheon’s estimate of the underlying trend. “Next week, we expect to see claims jumping to about 230,000 - a visible hit but much less than the 56,000 jump in the week after Hurricane Harvey struck Houston.” Sentiment in the US was also apparently shrugging off China’s latest retaliation against Trump's 10% levy on another $200bn of Chinese imports - which could rise to 25% in the New Year - with new trade tariffs on $60bn of US goods. Trump responded to that by repeating his threat to raise tariffs on another $267bn of Chinese imports. However, 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. 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 data front, homebuilding in the States picked-up substantially last month, but a key forward-looking indicator fell short of analysts' forecasts. According to the Department of Commerce, US housing starts shot up by 9.2% month-on-month in August to reach an annualised clip of 1.282m, led by activity in the West and Midwest. That was well ahead of the 1.225m pace which economists had pencilled-in. Nevertheless, starts for single-family homes were up by a tamer 1.9% month-on-month to 876,000. Housing permits on the other hand, which tend to lead the data on starts, declined by 5.7% versus July to reach 1.229m, just below consensus forecasts for 1.30m. Elsewhere, America's current account deficit with the rest of the world narrowed more quickly than expected during the second quarter. Over the three months to June, the shortfall declined from -$121.7bn in the first quarter to -$101.5bn for the three months to June, according to the Bureau of Economic Analysis. The main driver behind the improvement was a $17.6bn reduction in America's deficit on its foreign trade in goods and a $2.5bn increase in its surplus on services. In corporate news, Tilray rocketed 38.12% following stellar gains on Tuesday after the US Drug Enforcement Administration approved the company's request to export medical marijuana. Electric car maker Tesla was up 4.93% despite a report circulating that the company was being investigated by the US Department of Justice over statements that it and founder Elon Musk made last month about going private. Elsewhere, Red Hat reversed earlier losses to close ahead 0.32%, and Herman Miller was up 0.54% after beating first quarter earnings and revenue estimates. | | | Thursday newspaper round-up: Brexit, bookies, strikes, ITV | | | | | European leaders were divided last night before a critical meeting that will determine the future of Theresa May’s Brexit plans. Some EU countries are pressing for the leaders to engage with British proposals, which they see as a “positive” step towards reaching a deal, [but are] being challenged by the European Commission and the leaders of France and Germany, who are said to be unwilling to make the concessions demanded by the British. - The Times Theresa May has tried to threaten EU leaders over dinner at a special summit in Salzburg by telling them the UK would not seek to delay Brexit, prompting European leaders to warn that the two sides remained far apart on trade and the Irish border despite months of negotiations. The prime minister told her counterparts “that the UK will leave on 29 March next year” and as a result “the onus is now on all of us to get this deal done” by the end of an emergency summit in mid-November. - Guardian One of Theresa May’s most loyal allies has said her Chequers plan is “dead as a dodo” as he accused the Prime Minister of trying to “blackmail” her own MPs into supporting it. Former minister Sir Mike Penning, who helped to orchestrate her 2016 leadership campaign, said Mrs May was “deluded” if she thought she could persuade Tory Eurosceptics to vote in favour of any Brexit deal based on Chequers. - Telegraph The majority of EU workers in the UK would not be eligible to work in the country following Brexit if they were subject to proposals put forward by the government’s chief migration advisers. EU citizens currently in the UK are expected to be protected under the terms of the UK-EU withdrawal agreement but findings by the Institute for Public Policy Research illustrate how proposals by the Migration Advisory Committee will potentially restrict businesses recruiting migrants from the EU in future. - Guardian Gambling companies will be banned from advertising on television during live sports if Labour wins the next general election, as part of a crackdown designed to tackle an addiction “epidemic”. Labour’s deputy leader, Tom Watson, accused the government of letting the UK’s estimated 430,000 problem gamblers down, as he announced a number of policies that would tighten up betting regulations. - Guardian A regulator’s report into the travel chaos that left thousands of passengers stranded earlier this year has criticised the rail industry, concluding that “nobody took charge” even when it became clear months before the biggest ever changes to UK timetables that the project was in serious trouble. In an interim report into the timetable debacle, the Office of Road and Rail (ORR) singled out the train operators Govia Thameslink Railway (GTR) and Northern, Network Rail and the Department for Transport (DfT) for criticism, saying their mistakes had led to the “collapse” of services. - Guardian The owner of Alton Towers is ready to agree a multimillion-pound compensation settlement three years after a rollercoaster crash resulted in two young women each losing a leg. Lawyers for Leah Washington, 20, from Barnsley, and Vicky Balch, 23, from Leyland, in Lancashire, have lodged a claim in the High Court against Merlin Entertainments, which runs the theme park in Staffordshire. - The Times Staff at JD Wetherspoon, McDonald’s and TGI Fridays are to strike next month in an unprecedented action by employees in the hospitality sector, where a campaign to recruit new trade union members is gathering pace among workers who have traditionally not been organised. The industrial action takes place on 4 October and includes staff from a number of McDonald’s branches in London and two branches of the pub chain on the south coast. - Guardian ITV is in talks with potential partners for its planned British streaming service and hopes to agree an outline deal over the coming months. Dame Carolyn McCall, its chief executive, said yesterday that she was aiming to have drawn up a battle plan to counter Netflix and Amazon Video by February, when ITV publishes its annual results. - The Times New petrol and diesel car sales in Europe must be phased out before 2030 if the auto sector is to play its part in holding global warming to the Paris agreement’s 1.5C goal, a new analysis has found. Forecourt plug-in hybrids will also have to disappear by 2035 at the latest, according to analysis by the German Aerospace Centre (DLR). - Guardian Leaseholders will be able to buy the freehold of their property more easily under plans for an overhaul of what is seen as a stressful and costly system of home ownership. At present a leaseholder must wait two years before buying the freehold and can extend the lease only once, by 50 years and at high cost. - The Times KPMG has refused to agree to the size of a fine handed down against it for misconduct in relation to its reports to financial regulators on the client asset reporting compliance of BNY Mellon, the custodian bank. It admitted during talks with the Financial Reporting Council that its work had fallen “significantly short of the standards” expected of auditors, but claimed that the proposed fine decided by the regulator was too high. - The Times Van hire company Northgate has suffered a shareholder rebellion over the way the company's senior executives are remunerated. Almost 60pc of shareholders who voted at Northgate's annual general meeting (AGM) voted against proposed changes to executive bonuses. - Telegraph Europe's competition commissioner has shifted her sights from Google to Amazon, after revealing she is seeking fresh details of how the retail giant uses data gathered from smaller rivals to gain an edge in online sales. In her latest tilt at the US tech giants, Margrethe Vestager warned Amazon the European Commission plans to examine how the group collects data from third-party merchants on its site, and whether it uses that data to secure a competitive advantage. - Telegraph An energy supplier has shelled out nearly £680,000 to help compensate its customers for mis-selling and failing to provide annual statements. The industry watchdog Ofgem said that Green Star Energy broke supply licence rules, after failing to make clear that it had hired a third party to market and sell its tariffs. - Daily Mail A Canadian marijuana producer almost doubled its market value at one point to $22 billion in a single day yesterday as the pot-stocks bubble continued to inflate. The share price was boosted by bullish comments from its chief executive and news that America’s drugs regulator would allow the company to export a cannabis-based drug to the United States. - The Times Irish homeware and fashion brand Orla Kiely, famous for its distinctive floral prints reminiscent of the 1970s, is going into liquidation, having closed its stores, shut down its website and made 40 staff redundant. The retailer's shops in London's Chelsea and Covent Garden and Kildare in Ireland have closed, with all 20 staff losing their jobs. - Telegraph Jack Ma has reneged on a promise to create one million American jobs, citing a breakdown in US-China relations. Ma promised the recruitment drive during a meeting with Mr Trump in January 2017 but made a U-turn amid an ongoing trade war, a move that is certain to rattle President Donald Trump. - Telegraph Danish wind power giant Ørsted has sold a stake in its Hornsea offshore wind farm at a bumper price of £4.5bn to a New York based investment fund. Global Infrastructure Partners (GIP) will pay a third more than analysts expected for a 50pc stake in the Grimsby-based project which is guaranteed a revenue stream of almost three times the current market price. - Telegraph An explosive internal memo suggesting Theresa May will be forced to “stand down soon after March 2019” and detailing the pros and cons of her potential successors has been leaked. The excruciating dossier is being widely circulated among Tory MPs analysing the leadership prospects of her cabinet colleagues and other contenders including leading Brexiteers Boris Johnson and Jacob Rees-Mogg. - Telegraph | | | Atlantic Advisory - Share Tips of the Year 2018 | |
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