| 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 drop on Brexit woes after sterling falls to 2017 low | | | | | London stocks fell in early trade on Wednesday, taking their cue from weak US and Asian sessions as uncertainty about Brexit and US-China trade relations undermined sentiment. At 0830 GMT, the FTSE 100 was down 1% at 6,949.69, while the pound was off 0.1% against the dollar at 1.2706 and 0.5% firmer versus the euro at 1.1200, having fallen to its lowest level this year against the greenback after the government lost three parliamentary votes, including two contempt of Parliament motions for not publishing the full legal advice on the withdrawal agreement. In addition, MPs approved an amendment from Tory Dominic Grieve which aims to give them a greater say if Theresa May’s Brexit proposal is defeated during the meaningful vote next week. Neil Wilson, chief market analyst at Markets.com, said: "The pound is on the ropes and looks set for more falls as it seems all but certain Theresa May's government will fall. A vote of no confidence and fresh general election now seem certainties after a humiliating day in parliament. The spectre of a no deal crash out looms, but equally there is building momentum behind a second referendum. "In short this looks like a lot of short term trouble for GBP with a high risk of long term damage (no-deal exit), but with rising possibility of long term salvation from a second referendum, which Remain would carry. Worse before it gets better is the mantra for sterling." Wilson suggested that if the pound fell below support at £1.266 it could fall back to 1.2360, while a rise above 1.27 "could bring on some short term gains". As far as Sino-US trade relations are concerned, the Chinese Commerce Ministry said in a statement on its website that it was confident a trade agreement can be reached and that China would work to implement specific issues already agree as quickly as possible. The Commerce Ministry said the trade talks had been "very successful". "We are confident in implementation...The economic and trade teams from both sides will actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map," it said. On the corporate front, Hargreaves Lansdown was the biggest faller on the FTSE 100 after a downgrade to 'underweight' at Morgan Stanley, while Rotork was the worst performer on the 250 after Morgan Stanley trimmed its target price, closely followed by CYBG, which dropped on the back of a downgrade to 'underperform' at Bank of America Merrill Lynch. Weir and Wood Group were under pressure after the world's largest oilfield services provider, Schlumberger, warned on Tuesday that its fourth-quarter North America revenues were likely to drop by 15% sequentially due to steeper-than-expected price declines in hydraulic fracturing. Wood Group was also in focus after it was awarded a $43m contract by an unnamed large-cap midstream company to construct 80 miles of steel pipeline in west Texas. On the upside, Shire rallied as Takeda Pharmaceutical shareholders approved its £46bn takeover of the London-listed pharmaceutical group. Shire shareholders are due to vote on the deal later in the day. Transport operator Stagecoach surged after its first-half numbers came in ahead of expectations and guidance was upgraded. In other broker note action, Ted Baker was downgraded to 'hold' by HSBC on the back of the "forced hugging" scandal, while GlaxoSmithKline was cut to 'equalweight' at Barclays. | | | | | 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 lower on fears around trade, growth | | | | | Wall Street closed with heavy losses on Tuesday, after a session in which traders looked into the fine print of Monday's trade war ceasefire with China and digested a flattening yield curve in government debt. The Dow Jones Industrial Average ended the day down 3.1% at 25,027.27, the S&P 500 was off 3.24% at 2,700.06, and the Nasdaq 100 was 3.78% softer at 6,795.21. Following Monday's rally, market participants grew increasingly sceptical about the truce between China and the US with confusion about when it would kick-off also undermining sentiment. Trump's economic advisor, Larry Kudlow told reporters on Monday that it would start on 1 January, but the White House later issued a statement saying that the 90-day truce began on 1 December. There was also confusion over the details of the truce, with several senior White House figures contradicting one another. “The weekend dinner date between Trump and Xi initially drew a positive response, with markets rallying at the prospect of the trade war being paused for a few months and possibly even stopped altogether as talks progress well,” said Oanda analyst Craig Erlam. "This has since drawn plenty of scepticism about just how significant an agreement it was and what can possibly be achieved in the next few months that will prevent further tariffs being imposed." Also weighing on sentiment was the flattening of the US interest rate curve, as the yield on five-year government debt fell below that on three-year debt - something that has foreshadowed previous recessions - as investors turned less confident around the outlook for economic growth. In corporate news, watchmaker Movado jumped 12.55% after its third-quarter revenue beat expectations but profit fell short. Industrial distributor HD Supply reversed earlier gains to finish down 0.61%, even after its third-quarter earnings and revenue topped analysts' forecasts and the company upped its full-year guidance. Elsewhere, AutoZone shares surged 6.48% after its first-quarter same-store sales rose 2.7%, beating expectations for a 2% increase. Dollar General was down 6.8% after its third-quarter results, as it cut its 2018 earnings per share outlook to $5.85-$6.05 from $5.95-$6.15. Apple was down 4.4% after leading Monday's rally. | | | Wednesday newspaper round-up: China, director pay, coal, ITV | | | | | China has said that Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be reached but doubts remain over whether the two sides can resolve their deep differences. The commerce ministry, in a brief statement on its website, also said China would work to implement specific issues already agreed upon as quickly as possible. - Guardian A powerful investor body has raised concerns with the heads of 32 leading listed companies for failing to address significant shareholder rebellions. The Investment Association has written to groups, including Astrazeneca, WPP and Berkeley Group, that have faced revolts on the same resolution for two years in a row. In more than half of the letters to the “repeat offenders”, the shareholder dissent at annual meetings related to concerns about excessive executive pay. - The Times Britain's oldest coal-fired power plants prepared to fire up their hoppers for a price of almost £1,000 per megawatt-hour on Tuesday to avert a power shortfall as temperatures across the country plunge and wind power wanes. The cold snap ignited the winter’s first warning that Britain would run out of electricity unless idling coal plants ramp up to help meet demand for power. - Telegraph ITV boss Carolyn McCall and GSK chief Emma Walmsley have been named Britain’s most admired leaders in a poll of top business executives. The duo, two of the just six women who lead FTSE 100 companies, came out on top in a survey of 234 board directors, analysts and City commentators as part of Management Today’s Britain’s Most Admired Companies survey. - Telegraph Ray Kelvin, the founder and chief executive of Ted Baker, arrived for work at the retail chain’s London headquarters yesterday as more details emerged about his alleged workplace practices. More than 200 members of staff have made complaints, accusing him of forced hugging, making sexual innuendos and stroking people’s necks. - The Times Anglian Water might not strike you as the most exciting company to work for in Britain, but its employees think differently. According to a new ranking of the 50 best places to work in the UK in 2019, it comes top. With a rating of 4.5 out of 5, the water company beat competition from the likes of Salesforce, Hiscox and Sky Betting and Gaming, which came in fifth, sixth and seventh place respectively. - Telegraph Chinese companies such as the telecoms giant Huawei could spy on Western consumers thanks to their dominance of the technology behind the new 5G superfast mobile network, a US congressional commission has warned. Security experts believe that Beijing would be capable of ordering the companies to “modify products” either to fail on command or to snoop on users. - The Times A “universal fingerprint” has been found in the DNA of common cancers that could one day enable a diagnosis to be made with a simple ten-minute blood test. Researchers from the University of Queensland in Australia demonstrated that there is a tell-tale pattern of gene expression in cancer genomes which is not found in healthy genomes, allowing them to spot cancer DNA circulating in the blood. - The Times | |
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