| The 12 Stocks of Christmas Who could rebound the most in December? The end of the year is an excellent time for traders; data going back over three decades notes that December often sees a stock market rally to cap the end of the trading year. This report looks at 12 Stock Picks for this year's Santa Rally to assess which of them have the best potential for recovery.78% of retail clients lose money, consider affordability. Download Here | | | London open: Stocks inch higher on trade hopes, May faces leadership challenge | | | | | London stocks edged higher in early trade on Wednesday, taking their cue from an upbeat Asian session as investors grew increasingly optimistic about Sino-US trade relations, even as Theresa May faced a leadership challenge. At 0830 GMT, the FTSE 100 was up 0.3% at 6,829.86, while the pound remained at recent lows, but was up 0.4% against the dollar and the euro at 1.2538 and 1.1076, respectively, as it emerged that Prime Minister Theresa May will face a vote of no confidence in her leadership later in the day. Voting is expected to take place between 1800 GMT and 2000 GMT, after the required 48 letters from Tory MPs calling for a contest were delivered. If May loses the vote, there will be a Conservative leadership contest in which she cannot stand. If she wins, however, her leadership cannot be challenged for at least another year. Neil Wilson, chief market analyst at Markets.com, said: "The question for the pound is not who the leader is per se, but what it means for Brexit. A new Tory leader, depending on who it is and what Parliamentary support he or she can command, could create the necessary conditions for a new General Election, a situation that would undoubtedly ramp up the political risk premium for UK assets." More broadly, sentiment was being was underpinned by reports that China has agreed to cut tariffs on US cars from 40% to 15% in a move aimed at de-escalating the trade war between it and the US. The mood was also lifted by news that Huawei's chief financial officer, Meng Wanzhou, was released on bail. In corporate news, aerospace company Rolls-Royce rallied after saying it was still implementing its contingency plans after the UK government pulled its vote on the Brexit withdrawal agreement. The group also confirmed its 2018 full year forecasts with both group and core profit and cash flow to be in the upper half of its full year guidance range. British American Tobacco was in the green as it backed its 2018 earnings guidance and said de-leveraging remains on track. Hard landscaping products manufacturer Marshalls was on the front foot as it announced the acquisition of concrete brick manufacturer Edenhall for up to £17.2m as it said it expects to exceed full-year expectations thanks to better second-half revenue growth. Indivior gained ground after some better news from the US courts in its battle with generic drug maker Dr Reddy's over its opioid addiction treatment Suboxone. On the downside, Sainsbury's was in the red as it and Asda asked the competition authorities for more time to argue the case for their proposed £12bn merger. After having received a "large amount of material" from the Competition & Markets Authority, likely referring to rival supermarkets' objections to the deal, the pair has lodged an appeal to be given 11 extra working days over the Christmas period to prepare their response. Wood Group retreated even as it said it expects full-year earnings before interest, tax and amortisation to be in line with August guidance and market expectations, at between $620m and $630m. Superdry was under the cosh as the fashion retailer warned on profits, pinning the blame on unseasonably warm weather again as it posted a 49% drop in underlying interim pre-tax profit. The group said it now expects underlying pre-tax profit for the year to be between £55m and £70m, versus consensus expectations of £84m. Dixons Carphone tumbled as it said it swung to a £440m loss in the first half as it booked £490m of exceptional charges. | | | | | Are you looking for a profitable trading strategy? Do you have 20 minutes a day to follow this strategy? Yes! Then you need to watch this session. In fact for the past 6 months this strategy has been averaging +1275 pips per month! Book A Free Place To Find Out More | | | | Top 10 FTSE 100 Risers| Sponsored by Interactive Investor | 
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| | | US close: Markets mixed as Huawei spat rolls on | | | | | US stocks finished in a mixed state on Tuesday, after a positive start to the session and as a former Canadian diplomat was detained in China amid a political spat over Asian telecom giant Huawei. The Dow Jones Industrial Average finished the day down 0.22% at 24,730.24 and the S&P 500 was 0.04% weaker at 2,636.78, while the Nasdaq 100 rose 0.32% to 6,704.24. The mood was bright earlier in the day, after China's commerce ministry said that Chinese Vice Premier Liu He spoke to US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer on a call on Tuesday morning, launching formal talks. Donald Trump tweeted: "Very productive conversations going on with China! Watch for some important announcements!" Oanda analyst Craig Erlam said the markets were now seeing near-daily commentary on the progress of talks between the US and China. “The reality is that this is going to be a process that moves at a glacial pace but the fact that talks are happening are a reason to be optimistic.” However, it was later revealed that a former Canadian diplomat had been detained in China, with his current employer - the International Crisis Group - demanding his prompt and safe release. Michael Kovrig’s detention came shortly after police in Canada arrested the chief financial officer of China’s Huawei Technologies on 1 December at the request of US authorities, infuriating Beijing in the process. In other Trump news, the President was reportedly concerned of a “real possibility” he could be impeached once Democrats take the House of Representatives, CNN said on Monday. A source close to the president revealed that although Trump is concerned there remained a possibility of impeachment, he was not certain it would happen since the Senate remained unturned. On the macro front, small business sentiment in the US deteriorated more than expected in November, according to the National Federation of Independent Business. The small business optimism index fell to 104.8 last month from 107.4 in October, missing expectations for a dip to 107.0. "Small business owners are enthusiastic about the economy and have demonstrated their optimism by raising wages, creating new jobs, and investing in their businesses throughout 2018," said NFIB President and CEO Juanita D. Duggan. Duggan added that overall, small business owners had shown a historic trend in optimism for their businesses and the economy, and were continuing to be “the driving force” behind economic growth. “Capex aside, this survey looks like a softening, but this is not an interest rate-driven end-of-the-cycle rollover; it has been triggered by the drop in stock prices, which in large part reflects the trade war with China,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. “If that problem is solved, as we expect, the stock market will rebound, dragging the NFIB back up. Elsewhere, wholesale inflation in the States fell back last month as goods and energy prices receded, but printed ahead of forecasts at the so-called 'core' level. According to the Department of Labor, so-called final demand prices edged higher by 0.1% month-on-month in November, compared to consensus forecasts for no change, and on the back of a 1.3% jump in food costs. Compared to October, goods prices fell by 0.4% while those for services were up by 0.3%. Within the former, energy prices slumped by 5.0% In corporate news, DSW shares surged 8.41% after well-received third-quarter results. Biopharmaceutical outfit Entera Bio saw its shares reverse an earlier surge to settle 2% below the waterline, after it revealed a collaboration agreement with Amgen. Seagate Technology and AMD were 0.78% and 0.05% lower, reversing their fortunes earlier in the session. | | | Wednesday newspaper round-up: Confidence, property, travel, Uber, Tesla | | | | | Theresa May will be put under pressure at her cabinet meeting today to start planning for a no-deal Brexit, with ministers around the table expecting a vote on her future to be called within hours. Cabinet members are set to push the prime minister to step up preparations for a hard Brexit as some claim that she has repeatedly stalled spending decisions to prepare for such an outcome. - The Times Sajid Javid has touted his commitment to social mobility and Boris Johnson has compared his weight loss to the Brexit preparations as contenders to succeed Theresa May prepare their pitches for the top job. The home secretary and the former foreign secretary have used The Spectator to set out their views on Brexit and their party’s future, a decision which will doubtless be interpreted as preparation for a leadership contest. - The Times Shops, shopping centres and retail parks suffered one of their sharpest monthly falls in value since the financial crisis in November, highlighting the pressure on the retail industry and dealing a blow to pension funds invested in the sector. CBRE, Britain’s largest valuer, said that retail property values had fallen by 1.9 per cent month-on-month, the biggest drop since May 2009, except for the period immediately after the Brexit referendum in 2016. - The Times The so-called “dinner party” property investor is disappearing, with the number of landlords falling by 120,000 in less than three years after stamp duty reforms were introduced by George Osborne. Figures calculated by Hamptons International show that landlords have sold 45,250 more homes than they have bought so far this year and a total of 119,250 since April 2016, when the former chancellor introduced a 3 per cent stamp duty surcharge on buy-to-let purchases. - The Times The Royal Borough of Kensington and Chelsea has approved plans for a half-billion pound luxury retirement complex that includes just five affordable homes at a time when 14 families who survived the Grenfell Tower fire are still living in hotels 18 months on. The Conservative controlled council granted consent for the scheme on a prime site in the south of the borough that includes 142 homes, some of which will be let for up to £10,000 a month. - Guardian Plans to upgrade major parts of the London Underground will be put on hold after a decline in passenger numbers, government cuts and delays to the opening of Crossrail have left the capital’s transport authorities struggling to balance the books. Transport for London said its revenues would be £2.1bn lower for the next five years than forecast in 2016, compounded by the end of an average £700m annual government grant. - Guardian Transport for London expects to miss out on as much as £600m in revenues on the back of its delayed Crossrail project, adding extra pressure to its already stretched finances.The public body, which runs the London Underground as well as the capital’s buses and some rail lines, is now expecting revenues over the next five years to be £2.1bn less than previously expected, largely thanks to a drop in passenger numbers. - Telegraph Uber used a private meeting with the transport secretary to push for congestion charges that a senior civil servant warned would hit poorer drivers hardest, records have revealed. Chris Grayling was also lobbied by the Uber CEO, Dara Khosrowshahi, about opening up opportunities in Britain’s public transport network, according to the minutes of a meeting in October, revealed after a freedom of Information request. - Guardian Elon Musk has said he plans to “retire” Tesla’s chairman title, weeks after he was forced to give it up. On Tuesday, the electric car maker’s chief executive tweeted: “'Chairman’ is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title in three years.” - Telegraph Ministers are taking risks by handing so much government business to only a few large strategic suppliers and by failing to compile usable data to make better procurement decisions, according to a new report. All the three biggest suppliers to the government have experienced financial problems, with Carillion going bust and both Capita and Amey reporting heavy losses, the Institute for Government said. - The Times The Trades Union Congress has called on the government to set a target to create 1m manufacturing and high-tech jobs by 2030 to bolster its industrial strategy. In a report on the government’s flagship industrial policy, which launched a year ago, the unions’ umbrella group said too little progress had been made and greater checks on its progress was needed. - Guardian The watchdog that monitors the accounting industry and was condemned by MPs as being “useless and toothless” has been found to be in breach of rules on managing public money. In the latest embarrassment for the Financial Reporting Council, a review by the Government Internal Audit Agency has found shortcomings in the council’s compliance with government guidelines. - The Times McDonald’s has announced plans to reduce the use of antibiotics in its global beef supply, fuelling predictions that other restaurants will follow suit. The move by the world’s biggest fast-food chain addresses concerns that the overuse of antibiotics vital to fighting human infections in farm animals may diminish the drugs’ effectiveness in people. - Guardian | |
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