| Q4's Top 10 Stock Picks The best trading opportunities for the last 3 months of 2018 Has the FTSE bottomed out? Are you looking to revamp your financial portfolio, scouting names with upside potential? This report unveils our Top 10 Stocks for Q4 that could help make your latest investment decisions informed and deliberate. 78% of retail clients lose money, consider affordability. Download here » | | | London open: Investors shrug off China data, Intu surges on takeover offer | | | | | London stocks rose in early trade on Friday as investors shrugged off disappointing Chinese data and ongoing worries about Brexit. At 0835 BST, the FTSE 100 was up 0.3% to 7,045.70, while the pound was flat against the dollar at 1.3021 and 0.2% higher versus the euro at 1.1385. Chinese growth figures out earlier were uninspiring, showing that the economy slowed more than expected in the third quarter, with annualised GDP coming in at 6.5%, its weakest quarter since 2009 and below expectations of 6.6%. "Despite this the Chinese market rallied as the regulator stepped in with fresh measures to support liquidity and investment" said Neil Wilson, chief market analyst at Markets.com. "Growth of 6.5% rather than 6.6% is a pretty nice problem to have but the trade war with the US, higher debt levels and a depreciating currency remain a concern. Any bounce in Chinese stocks needs to be seen in the context of the three-year collapse in equities." Meanwhile, Brexit was still at the forefront of investors' minds after the EU said it was ready to extend the length of the post-Brexit transition if the UK wants. EU Council president Donald Turks told reporters at the EU summit on Thursday that if the UK decides an extension would be helpful in order to reach a deal, "leaders would be ready to consider this positively". However, May's concessions in Brussels - made without cabinet approval - were infuriating "all sections" of her party and sparking further plotting against the Prime Minister, newspapers reported. In corporate news, shopping centre owner Intu Properties surged 14% after confirming it had received a possible offer from a consortium led by one of its senior to directors to buy the company at 210p a share. Intu's deputy chairman John Whittaker's Peel Group, which already holds around 27% of the firm, has teamed up with Saudi conglomerate Olayan Group and Canary Wharf owner Brookfield Property. London Stock Exchange advanced after a broadly in-line third-quarter trading statement and after announcing that it was in the process of increasing its stake in LCH Group, while Man Group ticked a touch higher after it announced a new $100m share buyback. Dechra Pharmaceuticals was on the front foot as it announced the acquisition of Brazil's Venco for BRL185m (37.8m) and it said its performance in the first quarter was in line with management's expectations. On the downside, equipment rental firm Ashtead was under the cosh for the second day running after US peer United Rentals' guidance disappointed on Wednesday. United Rentals shares ended down nearly 15% overnight. InterContinental Hotels lost ground even after saying it had its best quarter for news signings and openings in a decade, as revenue per available room growth slowed. The company also announced a $500m special dividend and share consolidation. Provident Financial was in the red after the doorstep lender said collections in its home credit business were still 10% below historic levels in the third quarter. Safety and health group Halma nudged down after saying it had bought a Belgian fire control panel maker and fire system seller, while plastics maker Essentra fell as like-for-like revenue were flat in the third quarter. In broker note action, EasyJet flew lower after a downgrade to 'underperform' at MainFirst, Renishaw slumped after a downgrade to 'sell' at Stifel, but IP Group rallied on the back of an initiation at 'buy' by Berenberg. | | | | | Learn a powerful trading strategy - LIVE Attend our FREE webinar and learn exactly how to use our Sniper trading Strategy to trade FX, Indices, Commodities and Shares.
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- Additional proprietary and exclusive insights and analysis as markets move. Download our free report | | | US close: Markets end lower as traders react to Fed minutes | | | | | Wall Street trading finished below the waterline on Thursday, as investors continued to digest the latest set of meeting minutes from the Federal Reserve. The Dow Jones Industrial Average ended 1.27% lower at 25,379.45, while the S&P 500 lost 1.44% to 2,768.78 and the Nasdaq 100 slid 2.23% to 7,116.09. On Wednesday, minutes from the Fed's 25-26 September policy meeting showed that members of the rate-setting committee were broadly in agreement about the need to lift borrowing costs. A number of the committee's members expressed support for raising the base rate above a neutral level to keep inflation in check. Oanda analyst Craig Erlam said the minutes caused further unrest as they reaffirmed the widely held opinion at the central bank that interest rates have further to rise including another hike this year. "Why this came as such a surprise is something of a mystery as the minutes didn't appear to deviate from the message after the meeting when the central bank raised interest rates and removed the reference to policy being accommodative." On the data front, US jobless claims dipped last week, holding near their record lows. According to the Department of Labor, initial unemployment claims for the week ending on 13 October fell by 5,000 to 210,000, slightly ahead of consensus estimates for a reading of 211,000. At the same time, the four-week moving average, which aims to smooth out the variations in the data from one week to the next, increased by 2,000 to hit 211,750. Elsewhere, manufacturing conditions in the Philadelphia region deteriorated less than expected in October, according to a survey released by the Philadelphia Federal Reserve on Thursday. The index for current manufacturing activity in the region fell to 22.2 from 22.9, beating expectations for a bigger drop to 20.0. Nearly 36% of the manufacturers surveyed reported increases in overall activity this month, while 14% reported decreases. The new orders index fell two points to 19.3, while the current shipments index rose five points to 24.5. The prices paid index, meanwhile, slipped one point to 38.2. In corporate news, shares of biopharmaceutical group Endocyte rocketed 50.39% by the close as it agreed to be bought by Swiss drug maker Novartis for $2.1bn. Philip Morris International gained 3.50% after it posted better-than-expected third-quarter earnings, while Travelers Companies slipped 1.30% after the release of its third-quarter numbers. Bank of New York Mellon was off 2.77% after it revealed a slowdown in third-quarter sales growth. | | | | | Set to be another big success story: An SEIS approved investment with the potential of 50% tax relief for early investors. Click here to find out more | | | Friday newspaper round-up: Brexit, HSBC, Unilever, Amazon, Uber | | | | | Theresa May is facing the most perilous week of her premiership after infuriating all sections of her party by making further concessions to Brussels. Her offer to extend the transition period after Brexit — made without cabinet approval — enraged Remain and Leave Tory MPs alike. With confidence in No 10 ebbing away, rival blocs of Conservative MPs stepped up plotting against the prime minister. - The Times EU leaders are preparing to back Theresa May in building a “coalition of the reasonable” in the UK parliament, in a desperate bid to avoid a no-deal Brexit. Following what has been described by diplomats as a “call for help” by the prime minister at a crunch summit in Brussels, the German chancellor, Angela Merkel, stressed that the EU had to pursue “all avenues” to find a deal that can get through the Commons.“I think where there is a will there is a way,” she said. - Guardian The construction of High Speed 2 will cost 25 per cent more than similar rail projects in other countries, it has been claimed, prompting further warnings that the scheme is too expensive. A report commissioned by HS2 Ltd, the government-owned company, is expected to show that costs are far higher than those for networks elsewhere because of population density, the cost of land and skills shortages. - The Times HSBC is poised to become the first overseas firm to list in China under plans to link the London and Shanghai stock exchanges. City analysts heralded the "symbolic" move as the London-based bank finalises plans to issue depository receipts in China's financial capital. - Telegraph MPs have urged ministers to bring forward their ban on new petrol and diesel car sales by eight years to 2032, to avoid the UK being left “in the passenger seat” in the global switch to electric vehicles. Government plans for a 2040 ban on fossil fuel-powered cars and vans across Britain were unambitious and did not even show leadership within the UK, given Scotland has set itself an earlier target, the business, energy and industrial strategy committee said. - Guardian One of Unilever’s most senior directors has conceded that the consumer goods group could ditch plans to overhaul its corporate structure as it struggles to solve its Anglo-Dutch status. Speaking for the first time publicly since Unilever this month shelved plans to move to the Netherlands, Graeme Pitkethly, finance director, said it was grappling with “trying to solve a complicated algorithm” and he could not put a deadline on when it would make a decision. - The Times Civil servants working for Jeremy Hunt successfully lobbied the Cabinet Office to stop failing Carillion hospital projects from being overseen by an independent watchdog, an official report has disclosed. A National Audit Office report said the Department of Health intervened in 2015, which meant the Cabinet Office took responsibility for oversight of Carillion’s health construction projects including the Midland Metropolitan hospital. Hunt was health secretary at the time. - Guardian Name checks will be carried out when UK bank customers send money to other people from next year in a bid to halt a rising tide of bank transfer fraud. At the moment, anyone wanting to transfer money is asked for the recipient’s account name, account number and sort code. However, the bank does not currently check if the account name is correct. - Guardian Amazon is investing in three regional hubs across the UK, creating more than 1,000 new skilled jobs in a move UK trade secretary Liam Fox hailed as a "signal to the world that the UK is very much open for business". The internet giant will open a new office in Manchester, to house at least 600 new employees working on software development, machine learning and research and development. - Telegraph Uber is planning to launch a division that would hire out temporary workers such as waiters and security guards for corporate functions and parties. The ride-hailing app is looking to diversify its business before an expected stock market debut next year that Wall Street investment banks think may value Uber at as much as $120 billion. - The Times Paypal shares popped during late trading after the payments processor beat Wall Street estimates. Shares in the Silicon Valley company rose 2pc to $79.20 after reporting revenue growth of 14pc to $3.68bn, surpassing its own forecast of $3.63bn and market analysts' $3.66bn forecasts. Earnings were up 26pc. A secretive Silicon Valley data mining company that works with American spy agencies and the Pentagon is planning a flotation that is likely to be one of the biggest in recent years. Palantir Technologies, co-created by Peter Thiel, the Paypal co-founder, analyses large volumes of data for intelligence agencies and governments and is credited with helping the United States to hunt down and kill Osama bin Laden. - The Times | | | | | A sharp, trader-centered broker is an agile trader’s choice So take your time to carefully assess, and make a bold choice for your trading ventures #AskStratton for insights Connect Now *Between 74-89% of CFD traders lose | |
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