| | | | | | | 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 slip as miners retreat; housebuilders in focus |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London stocks slipped in early trade on Wednesday, with miners under pressure after disappointing Chinese data, as investors eyed the resumption of trade talks between the US and Canada and the latest reading on the UK services sector. At 0825 BST, the FTSE 100 was down 0.3% to 7,433.01, while the pound was off 0.2% versus the dollar at 1.2833 and flat against the euro at 1.1097. CMC Markets analyst Michael Hewson said: "The main preoccupation for investors continues to be on whether the US is serious about arriving at some form of deal with Canada over NAFTA in the wake of President Trump’s tweets at the weekend, that it wasn’t and isn’t a political necessity to get a deal. "In addition to that anxiety levels are growing ahead of the weekend and the possible imposition of another $200bn worth of tariffs on Chinese goods later this week." Canadian foreign minister Chrystia Freeland is due to meet US trade representative Robert Lightizer in Washington later on Wednesday after the US and Canada failed to agree a trade deal last Friday, which was the original deadline. On the data front, Markit's services PMI at 0930 BST is expected to show a slightly improvement to 53.9 in August from 53.5 in July. Konstantinos Anthis, head of research at ADSS, said: "If today's services data prints lower as well - as expected - then the pound will find it hard to extend its gains and with the dollar in the ascendancy ahead of the non-farm payrolls it looks more likely that cable will revisit its 1.28 lows and possibly break below them." Miners were under the cosh following weaker-than-forecast Chinese services data, with Anglo American, BHP Billiton and Rio Tinto all weaker. The Caixin China services purchasing managers' index fell to 51.5 in August from 52.8 the month before, marking the lowest reading in 10 months and missing expectations for a reading of 52.7. BHP Billiton was also in the spotlight as it agreed to buy Guyana Goldfields' 6.1% interest in SolGold, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador, for 26.592p a share. Housebuilders were in focus as Berkeley Group issued a trading statement and Barratt Developments released its final results. Barratt edged higher after saying it aims to build 3-5% more houses over the coming years at higher margins and posting a 9.2% jump in full-year pre-tax profit to £835.5m. Berkeley was also on the front foot as it said pricing has remained robust in the first four months of the year but added that the market "lacks urgency", while London remains constrained by high transaction costs, restrictive income multiple limits on mortgage borrowing and economic uncertainty. William Hill rallied after saying it has teamed up in the US with casino group Eldorado Resorts as exclusive partner in the provision of digital and land-based sports betting services as well as online gaming. Whitbread was lifted to 'neutral' by Bank of America Merrill Lynch following its agreement last week to sell the Costa coffee chain to Coca-Cola. Antofagasta was upgraded to 'equalweight' by Morgan Stanley, while BP was upped to 'overweight' by MS and Wizz Air was initiated at 'equalweight'. Vodafone was boosted to 'outperform' at Bernstein, while Peel Hunt downgraded Footasylum to 'sell' but upped Restaurant Group to 'reduce'. |
| | Invest in the revolutionary combustion technology that’s reducing emissions and cutting costs – with 400% Projected ROI by year 3 Find Out More |
| | Market Status | Top 10 FTSE 100 Risers| Sponsored by Interactive Investor | 
| | |
Top 10 FTSE 100 Fallers| Sponsored by Interactive Investor |
| | |
|
| | eToro Daily Update 05/09/2018 | Today’s highlights: Global markets follow Wall Street’s slump - Amazon briefly hits $1 trillion: Despite the negative momentum in US markets, a few stock reached new all-time highs yesterday, including Apple, Visa, Mastercard, Nvidia, Square and PayPal. Amazon also closed at an all-time high, not before briefly crossing the $1 trillion mark, becoming the second Wall Street stock after Apple to achieve the feat.
- Bitcoin rises above $7,300: 7 of the top 10 cryptos registered gains over the past 24 hours, including Bitcoin, which was holding above the $7,300 mark at the time of writing. Of the top 10 cryptocurrencies, Stellar showed the most gains, up more than 3.6%.
- Asian markets seen significantly lower: The Hang Seng and China50 indices were both down by more than 1.4% at the time of writing, joined by the Nikkeiindex.
Read More.. |
| | US close: Stocks slip as trade remains in focus | | Stocks on Wall Street kicked September off on the back foot on Tuesday as traders kept an eye on trade developments and digested the latest manufacturing data. The Dow Jones Industrial Average ended down 0.1% at 25,952.48, while the S&P 500 and the Nasdaq fell 0.2% to 2,896.72 and 8,091.25, respectively. Spreadex's Connor Campbell said: "Not only is the Dow dealing with the likelihood Donald Trump is preparing to impose tariffs on a further $200bn of Chinese imports once the deadline for public consultation on the plan ends on Thursday - a move that will no doubt provoke a response from Beijing - the index is also suffering in the face of investors fleeing to the safety of the dollar." Meanwhile, all eyes were on US talks with Canada after the two countries failed to reach an agreement last week, with discussions set to resume on Wednesday. Over the weekend President Trump suggested that Canada could be left out of a deal with Mexico. He tweeted: "There is no political necessity to keep Canada in the new NAFTA deal. If we don't make a fair deal for the US after decades of abuse, Canada will be out. Congress should not interfere w/ these negotiations or I will simply terminate NAFTA entirely & we will be far better off." On the data front, the seasonally adjusted IHS Markit US manufacturing purchasing managers' index came in at 54.7 in August, down from the 55.3 posted a month earlier and matching economists’ forecasts for the weakest reading for the gauge since November 2017. Meanwhile, the Institute of Supply Management's August manufacturing PMI was 61.3%, its highest level since May 2004 and an increase of 3.2% from July's reading of 58.1%. In corporate news, Transocean shares slumped after it agreed to buy Ocean Rig in a cash and stock transaction valued at around $2.7bn, including the firm's debt. Shares in furniture and electronics retailer Conn's tumbled after the release of its second-quarter results, while Nike ended in the red following the announcement that NFL player and civil rights activist Colin Kaepernick would be the face of its 30th anniversary 'Just Do It' campaign. Facebook was also weaker as Moffett Nathanson downgraded the stock to 'neutral’ from 'buy’. Southwestern Energy ended lower as it announced the sale of its Fayetteville Shale E&P and related midstream gathering assets for $1.87bn. Amazon hit an all-time high of $2,050 during Tuesday’s session. |
| | Atlantic Advisory - Share Tips of the Year 2018 | | Download Our Latest Report Here Losses can exceed deposits |
| | Wednesday newspaper round-up: Amazon, Google Chrome, Mike Ashley, Pfizer | | A radical overhaul of Britain’s economy as far-reaching as Labour’s post-war reforms and the Thatcherite revolution in the 1980s is needed to address the UK’s chronic failure to raise the standard of living of millions of workers since the 2008 financial crash, according to a major report. In a damning verdict on the state of the UK economy, the IPPR commission on economic justice, which includes the Archbishop of Canterbury Justin Welby, senior business leaders and economists, found that the UK is being held back by a business culture dominated by decades of short-term profit taking, weak levels of investment and low wages. – Guardian Amazon has become the second company to be valued by Wall Street at $1tn, a matter of weeks after Apple reached the milestone first. On Tuesday, a rise in the share price of Amazon, which is listed on the Nasdaq stock exchange in the US, briefly took it above the trillion-dollar watermark for the first time. Crossing the $1tn threshold marks the latest chapter in an astonishing story of growth for the company, founded by businessman Jeff Bezos in Seattle in 1994. - Guardian Millions of British households could be left vulnerable to a glitch in the Google Chrome web browser which has exposed their household Wifi networks to a new form of hacking, researchers have claimed. A weakness in the source code contained in the US tech giant's popular browser means that hackers could infiltrate the Wifi networks of British homes in as little as one minute, according to experts from cybersecurity consultancy SureCloud. - Telegraph Sports Direct boss Mike Ashley has taken a further swipe at former House of Fraser chairman Frank Slevin, accusing him of retaining a company car and flat as the retailer collapsed. The tracksuit tycoon bought troubled department store chain House of Fraser out of administration for £90m in August, vowing to transform it into the “Harrods of the High Street”. However, he has been locked in a standoff with warehouse operator XPO over the £30.4m it was owed when House of Fraser went bust. - Telegraph Pfizer is to spend about $100 million on preventive Brexit measures such as transferring product testing and licences from the UK to other European countries. The American pharmaceuticals group said that it also would accumulate one-off costs from updating its clinical trial management procedures and making other “adaptations” to protect its business in Europe. Pfizer, which is valued at $243 billion, makes about 2 per cent of its $52.5 billion worldwide revenue in the UK. The company has long enjoyed a close relationship with Britain and discovered Viagra, the erectile dysfunction drug, at its research site in Sandwich, Kent. - The Times Companies using NHS patient records to build the next generation of healthcare tools will have to demonstrate that any commercial gains they make are shared “fairly” with the NHS, ministers will say today. The Department for Health has drawn up a code of conduct for technology firms that use the NHS’s “unique” data to train their algorithms. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
| | | | | | ADVFN Disclaimer Although we have sent you this email, ADVFN does not endorse any product or company nor is it responsible for the content of this news bulletin. We have not independently reviewed the information; claims or testimonials provided within the news bulletin and make no guarantee or warranty regarding its content. The opinions and recommendations expressed in this email are not those of ADVFN. |
| | | |
| Registered Office/Accounts Dept:
Suite 27, Essex Technology Centre,
The Gables, Fyfield Road, Ongar,
Essex, CM5 0GA. | | Support Tel: 0207 0700 961
Company registered in England and Wales:
Number 2374988
VAT No: GB 549 2130 49 | | | | | | | |
No comments:
Post a Comment