Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 01 May 2014 17:41:18 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo SAGA IPO - Record breaking floatation Download your SAGA IPO report now. Click Here Losses can exceed deposits. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Lloyds leads positive finish for FTSE - FTSE closes up 28.84 points at 6,808.87 - Lloyds leads after strong quarterly performance - UK manufacturing PMI rises to five-month high techMARK 2,788.41 +0.28% FTSE 100 6,808.87 +0.43% FTSE 250 15,850.34 +0.21% London-listed stocks closed today's session on a positive note, with gains being led by Lloyds as investors welcomed a stronger-than-expected rise in house prices and better-than-forecast UK manufacturing data. The FTSE 100 closed up 28.84 points at 6,808.87. Chris Beauchamp, Market Analyst at IG, said: "The new month has got off to a positive start for the FTSE and other UK markets, although trading is lacking the enthusiasm displayed during previous days. This is probably down to a combination of the absence of 'month end mark up' trading, and caution ahead of non-farm payrolls tomorrow. "Lloyds has added to its gains in the afternoon session, and the results today are likely to boost appetite for the TSB initial public offering among investors, eager to seize another piece of the Lloyds empire." The UK manufacturing purchasing managers' index (PMI) rose to a five-month high of 57.3 in April, up from 55.8 in March and ahead of the consensus forecast of 55.4, driven by increases in output and new orders. The news pushed the pound to an almost five-year high against the greenback at $1.6921, although it later fell back. Meanwhile, UK house prices increased by 1.2% during April to reach £183,577 following several months of moderation, according to mortgage lender Nationwide. That left prices standing 10.9% higher than a year ago, the first double-digit gain in four years. Economists had been expecting gains of 0.5% month-on-month and 9.8% over the year. In other UK macro news, lending to individuals increased by 0.2% over the month, or £2.9bn, to reach £1.44trn, while the average monthly rise over the previous six months was £1.9bn. Net mortgage lending was 0.1% higher on the month, after increasing by £1.8bn (Consensus: £1.7bn), to £1.281trn. US economic data comes in mixed Meanwhile, over in the States, consumer spending and incomes both increased in March, with growth accelerating from the prior month. Spending and incomes rose by 0.9% and 0.5%, respectively, ahead of forecasts. "While these data were already incorporated in the first-quarter 2014 advance GDP release, they suggest solid momentum in underlying goods and services spending going into the second quarter of 2014, and we project another 3% increase in consumer spending on the quarter," said Analyst Dean Maki from Barclays. An index measuring activity in the manufacturing sector, as measured by the Institute for Supply Management, rose to 54.9 in April from 53.7 the month before, ahead of the 54.3 forecast. Meanwhile, jobless claims unexpectedly rose to a nine-week high of 344,000 last week from a revised 333,000 the week before, according to data from the Labor Department. The consensus forecast was for a drop to 320,000. Betting terminal recommendations not as bad as feared The government today unveiled its report into the high street gambling industry and fixed-odds betting terminals (FOBTs) - and the results are not as bad as feared for bookmakers. The main recommendations from the Department for Media, Conservation and Sport (DMCS) report is to give local councils new powers to control the concentration of betting shops, with bookmaking firms now required to apply for planning permission. William Hill and Ladbrokes were both higher by the close. Lloyds takes top spot after strong Q1 and TSB float news Domestic lender Lloyds rose into the top spot after saying that underlying profits rose by over a fifth in the first quarter and it continues to expect to apply to regulators in the second half to restart dividend payments. That came as it announced TSB bank is due to float in London before the end of June, selling at least a 25% stake of the recovering business. Most of Lloyds's key financial metrics continued to 'appreciate measurably' in the first quarter, according to Hargreaves Lansdown Stockbrokers. "Lloyds is often seen as a proxy for the UK economy, and although they are inextricably linked, both are beginning to prosper after a long period of austerity," said Head of Equities Richard Hunter. Aggreko climbed strongly after Jefferies upgraded the stock to 'buy', pushing the stock more than 4% higher. Profits at oil and gas firm BG Group rose as it regained losses incurred earlier in the week, which came on the back of lower production volumes and higher costs, as well as the surprise exit of its Chief Executive. Earnings fell 2.4% at BSkyB in the third quarter despite a rise in revenues, but continued investment in connected television services was repaid with better-than-expected new subscriptions, pushing shares higher throughout today's session. Meanwhile, meanwhile, Sainsbury, Tesco and Morrison were all notable fallers this afternoon after the latter unveiled plans to slash the price of 1,2000 products by as much as 60% in an effort to take a greater slice of the market share. As many as 40% of the products will be own-brand items. Broker Bernstein said the size of the move marked "a big departure" and said the company was "dropping the ultimate bomb". Scottish engineering group Weir declined after Numis Securities downgraded its rating for the stock from 'add' to 'hold', saying that it sees little upside after the stock's recent strong run. That came after the group posted in line trading in the last four months. Randgold Resources fell after Investec reiterated its 'hold' rating on the stock.   Professional Trading Indicators - FREE Trial! Fox Trading Signal Pro provides unique indicators and simple to use strategies that enable traders of all experience levels to trde the markets successfully.  Find out more, click here. FTSE 100 - Risers Lloyds Banking Group (LLOY) 79.50p +5.49% Aggreko (AGK) 1,645.00p +4.31% Hargreaves Lansdown (HL.) 1,215.00p +3.85% BG Group (BG.) 1,237.50p +3.30% AstraZeneca (AZN) 4,815.00p +3.24% Rexam (REX) 510.00p +2.82% Johnson Matthey (JMAT) 3,359.00p +2.63% Royal Bank of Scotland Group (RBS) 306.60p +2.61% ITV (ITV) 186.60p +2.53% Travis Perkins (TPK) 1,748.00p +2.52% FTSE 100 - Fallers Sainsbury (J) (SBRY) 325.10p -3.16% Fresnillo (FRES) 830.00p -2.52% Tesco (TSCO) 286.55p -2.18% Randgold Resources Ltd. (RRS) 4,678.00p -2.13% Weir Group (WEIR) 2,634.00p -2.08% Morrison (Wm) Supermarkets (MRW) 197.50p -1.69% Smith & Nephew (SN.) 905.00p -1.58% Vodafone Group (VOD) 220.65p -1.47% Antofagasta (ANTO) 776.00p -1.40% Sage Group (SGE) 420.80p -1.31% FTSE 250 - Risers Fisher (James) & Sons (FSJ) 1,433.00p +11.00% Just Retirement Group (JRG) 170.30p +4.54% Supergroup (SGP) 1,390.00p +4.51% RPC Group (RPC) 623.50p +3.92% BTG (BTG) 551.50p +3.67% Dixons Retail (DXNS) 46.60p +3.60% Carphone Warehouse Group (CPW) 317.90p +3.28% FirstGroup (FGP) 133.40p +3.25% Hansteen Holdings (HSTN) 106.20p +3.21% Partnership Assurance Group (PA.) 136.00p +3.03% FTSE 250 - Fallers Regus (RGU) 197.00p -5.74% Brown (N.) Group (BWNG) 486.70p -5.13% Polymetal International (POLY) 548.00p -3.18% African Barrick Gold (ABG) 241.80p -2.62% St. Modwen Properties (SMP) 362.00p -2.56% Imagination Technologies Group (IMG) 191.40p -2.45% Fidessa Group (FDSA) 2,190.00p -2.32% Lancashire Holdings Limited (LRE) 684.00p -2.29% Synthomer (SYNT) 258.20p -2.20% Vedanta Resources (VED) 925.50p -2.17% PROVEN Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Spain revises growth forecasts higher - Spain revises growth forecasts higher - Euro moves up towards 1.39 - Most markets closed for holiday FTSE-100: 0.43% Dax-30: Closed for holiday Cac-40: Closed for holiday FTSE Mibtel 30: Closed for holiday Ibex 35: Closed for holiday Stoxx 600: 0.18% What few markets were open for trading on Thursday in Europe managed to finish slightly in the blue, as the single currency continued to grind slowly higher ahead of tomorrow’s US non-farm payrolls report. The above may well just be the result of some traders positioning themselves ahead of that key report. In fact, for now most observers seem to be continuing to expect the US economy to chug along, leading to widening interest differentials and hence a lower single currency. The wild-card of course are the continuing high portfolio flows into the Eurozone, which have been buoying the euro, alongside other factors. In any case, just as important as the level of the euro - from the European Central Bank's perspective - is how long it actually remains above these levels, says Alex Bueso at Sharecast. Of great interest, yesterday the Spanish government approved its new Stability Programme (SP) and new National Reform Plan (NRP) for up until 2017, which includes several upwards revisions. The growth outlook was upgraded to 1.2% for 2014, 1.8% for 2015, 2.3% in 2016 and 3% in 2017. Critically, for the sustainability of Spain’s national debt, it is expected to peak next year, although some economists believe those forecasts to still be too optimistic. There were no major economic reports released on the Continent. Euro continues to grind higher The euro/dollar was 0.01% higher at 1.3876. Front-month Brent crude futures were off by 0.577% to the $107.45/barrel mark on the ICE. Losing Interest? You could earn more with a Stocks & Shares ISA. Grab a ready-made package or pick your own at The Share Centre. Capital at risk. Tax benefits of ISAs may change. US Market Report US open: Dow pauses at record high after mixed economic data - Consumer spending, incomes beat forecasts - ISM manufacturing rises ahead of estimates - Jobless claims unexpectedly rise - T-Mobile US up on customer growth, Sprint speculation Dow Jones: -0.08% Nasdaq: 0.06% S&P 500:-0.08% US stocks opened more or less flat on Thursday with the Dow Jones Industrial Average pausing at a record high as investors digested upbeat consumer spending and manufacturing figures, as well as a surprise increase in jobless claims. The Dow was trading 0.1% lower in morning trade, having reached an all-time high of 16,580.84 on Wednesday, the S&P 500 fell 0.1%, while the Nasdaq gained 0.1%. Markets had risen the previous session after the Federal Open Market Committee chose to continue reducing its quantitative easing programme by a further $10bn a month, as was widely expected. The decision came despite figures yesterday showing that the US economy almost stagnated in the first quarter, with gross domestic product (GDP) expanding by just 0.1% on an annualised rate. In economic data today, consumer spending and incomes in the States both increased in March, with growth accelerating from the prior month. Spending and incomes rose by 0.9% and 0.5%, respectively, ahead of forecasts. "While these data were already incorporated in the first-quarter 2014 advance GDP release, they suggest solid momentum in underlying goods and services spending going into the second quarter of 2014, and we project another 3% increase in consumer spending on the quarter," said Analyst Dean Maki from Barclays. An index measuring activity in the US manufacturing sector, as measured by the Institute for Supply Management, rose to 54.9 in April from 53.7 the month before, ahead of the 54.3 forecast. Meanwhile, US jobless claims unexpectedly rose to a nine-week high of 344,000 last week from a revised 333,000 the week before, according to data from the Labor Department. The consensus forecast was for a drop to 320,000. T-Mobile surges on customer growth Shares in T-Mobile US rallied after the company added 1.3m new monthly subscribers during the first three months of the year, its highest ever quarterly gain. T-Mobile US was also boosted by reports that larger telecoms firm Sprint has met with banks to make debt arrangements in a potential bid for the company. Oil major Exxon Mobil was subdued early on despite reporting a less-than-expected 1% decline in earnings per share (EPS). Sector peer ConocoPhillips, however, impressed with its quarterly results as adjusted EPS rose 27%. Auto major Ford declined after saying that US vehicle sales declined to 211,126 units in April, down 0.7% on a year earlier. General Motors, however, gained after reporting 6.9% growth. Front month West Texas crude futures were down by 0.53% to the $99.22/barrel mark on the NYMEX. 10-year US Treasury yields edged higher by one basis point to 2.65%. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. Broker Tips Broker tips: Lloyds, Weir, BSkyB... Most of Lloyds' key financial metrics continued to 'appreciate measurably' in the first quarter, according to Hargreaves Lansdown Stockbrokers. "Lloyds is often seen as a proxy for the UK economy, and although they are inextricably linked, both are beginning to prosper after a long period of austerity," said Richard Hunter, Head of Equities at Hargreaves Lansdown Stockbrokers. Numis Securities has downgraded its rating for Weir Group from 'add' to 'hold' despite the company's in-line first-quarter trading update on Thursday, saying that it sees little upside after the stock's recent strong run. Nevertheless, Numis said: "We continue to view Weir as a high quality business with leading market positions, excellent margins and strong cash generation." Bernstein Research has kept an 'underperform' rating and 700p target for British Sky Broadcasting (BSkyB), but admitted that the company's outlook is "beginning to look safer". The broker said that the economic recovery in the UK "should help lift the outlook for TV, both from a demand perspective and from a pricing angle". It added: "If BSkyB were to ratchet back growth on Broadband and Telephony, this might reduce the need for BT to be aggressive on content, which could bode well for a more orderly English Premier League auction next year (a net positive)." Investec remains a 'seller' of BG Group despite first-quarter results looking "fine", saying that the surprise departure of its Chief Executive Officer on Monday is "still a mystery". "After the shock resignation of Chris Finlayson, there had perhaps been a fear that the first quarter might have seen another car crash. In the event, the results were absolutely fine, making his exit all the more mystifying," Analyst Neill Morton said. Cantor Fitzgerald has said that the scale of the profit warning by outsourcing group Serco is "surprising", as it reiterated its 'sell' recommendation for the stock. "Serco has had a spectacular fall from grace, in our view, but we are not convinced that the worst is over for shareholders. The new Chief Executive Officer has barely got his feet under his desk and, as we expected, Andrew Jenner, group Chief Financial Officer is stepping down. It is therefore a real possibility in our view that we will see more 'kitchen sinking' by the new management team."   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

ADVFN Newsdesk - Consolidation Likely as Markets Await Monthly Jobs Report

ADVFN  World Daily Markets Bulletin Daily world financial news Thursday, 01 May 2014 10:22:24    Monitor Quote Charts News Toplists Forex Boards   What This 37 Year Old Trader Did To Turn $10K to $2.4 Million In 18 Months Besides the $2.4 Million, he loved the ease and peace of mind his method offered. Here’s a simple way you can put his method to work and potentially earn six and even seven figures in the months ahead. Click Here To See How! US Market Shanghai Hang Seng NIKKEI ASX The major U.S. index futures are pointing to a mixed opening on Thursday, with sentiment suggesting nervousness among traders as they digest mixed catalysts. Earnings news of the day has been mixed and economic data released ahead of the market open has also turned out to be mixed. While personal spending and income rose more than expected, jobless claims for the recent reporting week rose more than expected, triggering fears concerning tomorrow's non-farm payrolls report. The Labor Day holiday across most major global markets could render activity light. The manufacturing data due after the markets open may also dictate market mood to some extent. U.S. stocks extended their gains on Wednesday amid the release of mixed earnings and economic data and the FOMC announcement. The major averages opened lower after the release of two separate reports showing slower than expected first quarter growth and bigger than expected jobs gains. The Dow Industrials and the S&P 500 Index recovered by late morning trading following the release of a positive regional manufacturing reading and moved decisively above the unchanged by the afternoon. Meanwhile, the Nasdaq Composite continued to languish below the unchanged line until late trading. The Dow Industrials ended up 45.47points or 0.27 percent at 16,581 and the S&P 500 Index closed 5.62 points or 0.30 percent higher at 1,834. The Nasdaq Composite rose above the flat line in late trading and closed at 4,115, up 11.01 points or 0.27 percent. Seventeen of the thirty Dow components closed higher, while the remaining thirteen stocks declined. Goldman Sachs , 3M Co. and Exxon Mobil advanced strongly in the session, while Pfizer slid 1.51 percent. Brokerage and Biotechnology stocks were among the best performers of the session, while computer hardware stocks came under pressure. On the economic front, advance estimates released by The Commerce Department showed that U.S. first quarter GDP growth slowed notably to 0.1 percent. Gross private investment served as a drag, as its fell 6.1 percent, with spending on equipment and residential construction showing marked weakness. Net trade also deducted from growth, as exports fell 7.6 percent and imports fell a more modest 1.4 percent. However, consumer spending growth was strong at 3 percent. Meanwhile, a survey by payroll processor ADP showed that the private sector added a better than expected 220, 000 jobs in April following the addition of 209,000 jobs in March. The service sector added 197,000 jobs and the goods producing sector gained 24,000 jobs. MNI Indicators released the results of its manufacturing survey for the Chicago region, which showed a notable increase in the business barometer to 63 in April from 57 in March, marking the best reading since October 2013. The post-meeting policy statement released by the Federal Reserve did not offer any surprises. The central bank qualified growth as having picked up after the slowdown in the winter. The statement also suggested that household spending is rising rapidly. Contrary to its assessment in March, the central bank noted that business fixed investment has edged down. As expected, The Fed trimmed the size of its quantitative easing by another $10 billion. There was no dissension and no revisions were made to the central bank's forward guidance. The Dow Industrials has climbed to a record closing high on Wednesday by virtue of its recent advance. If a resistance around 16,603 is violated to the upside, the index could attempt to take out the 16,645 level. On the downside, the index has support around 16,540, 16,503, 16,451, its 21-day MA (currently at 16,400), its 50-day MA (currently at 16,327), 16,266 and its 100-day MA (currently at 16,214). No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts Automakers are scheduled to release their monthly sales statistics for April. Economists expect vehicles sales to come in at a seasonally adjusted annual rate of 16.2 million units compared to 16.4 million units in March. Offsetting some of the optimism about the labor market generated by yesterday's ADP report, the Labor Department released a report on Thursday showing an unexpected increase in initial jobless claims in the week ended April 26th. The report said initial jobless claims climbed to 344,000, an increase of 14,000 from the previous week's revised level of 330,000. The increase came as a surprise to economists, who had expected jobless claims to dip to 320,000 from the 329,000 originally reported for the previous week. Personal income and spending in the U.S. both rose by more than expected in the month of March, according to a report released by the Commerce Department. The report said personal income increased by 0.5 percent in March after rising by an upwardly revised 0.4 percent in February. Economists had expected income to rise by 0.4 percent compared to the 0.3 percent increase originally reported for the previous month. Additionally, The Commerce Department said personal spending surged up by 0.9 percent in March following an upwardly revised 0.5 percent increase in February. Spending had been expected to increase by about 0.6 percent compared to the 0.3 percent growth originally reported for the previous month. Federal Reserve Janet Yellen is scheduled to speak to the Independent Community Bankers of America in Washington, also at 8:30 am ET. Markit is due to release its final estimates for the U.S. manufacturing index for April at 9:45 am ET. The consensus estimate calls for a small upward revision to its preliminary estimate to 55.8. The Institute for Supply Management will release the results of its national manufacturing survey at 10 am ET. Economists expect the manufacturing purchasing managers' index to come in at 54.3 compared to 53.7 in March. The manufacturing index rose to 53.7 in March from 53.2 in February. The new orders index edged up by 0.6 points to 55.1, the production index jumped 7.7 points to 55.9 and the order backlogs index climbed 5.5 points. On the other hand, the employment index slipped 1.2 points to 51.1. Of the 18 industries surveyed, 14 reported growth. Around the same time, The Commerce Department is due to release its construction spending report for March. Economists expect a 0.6 percent month-over-month increase in construction spending. Construction spending edged up 0.1 percent month-over-month in February. Private non-residential construction spending climbed 1.2 percent, offsetting a 0.8 percent drop in spending on private residential construction. Meanwhile, public construction spending was up 0.1 percent. Retired Talk Show Host Reveals Shocking Secret "Almost anyone can collect income checks from the government," he says. "And it's all tax-free." Read More Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Western Digital reported better than expected third quarter results, while it issued weak earnings and revenue guidance for its fourth quarter. Emulex reported third quarter non-GAAP earnings of 15 cents per share on net revenues of $109.7 million. The earnings were in line, the company issued weak guidance for its fourth quarter. Weight Watchers reported better than expected first quarter results and raised its earnings guidance for 2014. Among insurers, MetLife (MET) reported first quarter earnings and revenues that trailed expectations, while Lincoln National's first quarter results were also below estimates. Starwood Hotels (HOT) announced that its CFO Vasant Prabhu has left the company to join NBC Universal as its CFO. The company also announced the appointment of company veteran Alan Schnaid as its new CFO on an interim basis. Providing an update to its strategic initiatives, Aeropostale (ARO) said it plans to exit mall-based locations by the end of 2014 and will eliminate 100 positions. The company also said it is striving to restructure the brand to focus on faster growing sales channels. The company also reaffirmed its first quarter non-GAAP loss guidance of 70-75 cents per share. JDSU reported below-consensus results for its third quarter and provided weak fourth quarter guidance. Meanwhile, Fidelity National Financial reported better than expected first quarter results. Flextronics reported fourth quarter results that were ahead of estimates and its first quarter guidance was in line. Crocs reported first quarter non-GAAP earnings of 14 cents per share on revenues of $312.4 million. The earnings trailed expectations. The company's second quarter guidance was also weak. Terex's (TEX) first quarter results were below estimates. Jack Henry & Associates reported third quarter earnings that came in line, while its revenues trailed expectations. Arkansas Best announced that it has renamed itself ArcBest and adopted ARCB as its new ticker symbol. Akamai Technologies , BJ Restaurants , Expedia , Fluor , Hutchinson Technologies , Kraft Foods , LinkedIn , Manitowoc , PMC-Sierra , Qlogic (QLGC), Western Union , Wynn Resorts and XL Group are among the companies due to release their quarterly results after the close of trading. No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade European Market The U.K. market, the lone major market that is open in the region, opened higher and has seen further upside since then. In corporate news, BG Group reported lower profits for its first quarter, as its output declined. U.K. bank Lloyds reported higher pre-tax profits for its first quarter, as margins improved. Reckitt Benckiser dropped out of the race to buy Merck's consumer health unit, leaving Bayer as the sole contender for the unit. Meanwhile, pay TV operator BskyB reported a decline in its third quarter profits, hurt by competitive pressure. On the economic front, the results of Nationwide's house price survey showed that U.K. house prices rose 10.9 percent year-over-year in April, the fastest increase since the middle of 2007. The results of a survey by Markit Economics and the Chartered Institute of Purchase & Supply showed that manufacturing activity in the U.K. quickened in April. The purchasing managers' index rose 1.5 points to 57.3, ahead of the consensus estimate of 55.4. Asian Markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The Asian markets that were open for trading closed on a mixed note, although trading activity was light as most markets were closed for May Day holidays. Soft Chinese manufacturing data impacted sentiment even as the positive close on Wall Street offered some comfort. The Australian and the New Zealand markets retreated moderately, while The Japanese markets ended notably higher, with the yen's weakness fueling the upside. The Nikkei 225 average opened higher and advanced amid volatility before closing the session up 181.02 points or 1.27 percent at a 1-week high of 14,485. Export stocks led the rally, while defensive utility, retail, real state and food stocks moved to the downside. After the markets closed, Sony said it expects a wider loss for its fiscal year ended March, hurt by charges. Meanwhile, Australia's All Ordinaries ignored modest strength in early trading and declined steadily throughout the session, ending down 40.40 points or 0.74 percent at 5,430. The market witnessed broad based weakness, with material stocks leading the slide. On the economic front, Chinese manufacturing activity rose at a slightly slower than expected rate in April, according to data released by the Chinese National Bureau of Statistics. The manufacturing purchasing managers' index rose 0.1 points to 50.4, although it came in below the reading of 50.5 expected by economists. The results of a survey by the Australian Industry Group showed that the manufacturing sector in Australia moved further into contraction territory in April. The manufacturing index fell to a 9-month low of 44.8. The gun debate reveals game-changing technology And provides proof that we could be at the exact tipping point to deliver monster-sized gains. Read more... Currency and Commodities Markets Crude Oil futures are falling $0.96 to $98.78 a barrel after tumbling $1.54 to $99.74 a barrel on Wednesday. The previous session's weakness came amid the release of the weekly petroleum status report, which showed that Crude oil stockpiles rose by 1.7 million barrels to 399.4 million barrels in the week ended April 25th. Inventories remained above the average range for this time of the year. Distillate stockpiles increased by 1.9 million barrels but were below the lower limit of the average range. Additionally, Gasoline inventories rose by 1.6 million barrels yet were in the lower half of the average range. Refinery capacity utilization averaged 89.6 percent over the four weeks ended April 25th compared to 88.8 percent over the four weeks ended April 18th. Gold futures, which edged down $0.40 to $1,295.90 an ounce in the previous session, are sliding $14 to $1,281.90 an ounce. On the currency front, the U.S. dollar is trading at 102.33 yen compared to the 102.24 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.3874 compared to yesterday's $1.3867.     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 01 May 2014 10:21:11 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo SAGA IPO - Record breaking floatation Download your SAGA IPO report now. Click Here Losses can exceed deposits. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: FTSE 100 above 6,800 as Fed continues to taper - Markets at highest since February 28th - Fed sticks with taper - Plenty of economic data due out - BSkyB, Lloyds, BG Group and Schroders gain techMARK 2,785.17 +0.17% FTSE 100 6,805.94 +0.38% FTSE 250 15,928.81 +0.71% The FTSE 100 surpassed the 6,800 mark in early trading on Thursday, a level not seen in over two months, tracking gains made on Wall Street the previous session as investors reacted to the Federal Reserve's decision to continue tapering stimulus. As was widely expected, the Federal Open Market Committee chose to reduce its quantitative easing programme by a further $10bn a month, taking monthly asset purchases to $45bn. Despite data earlier in the day showing that the US economy almost stagnated in the first quarter – gross domestic product (GDP) expanded by just 0.1% - US markets finished moderately higher, pushing the Dow Jones Industrial Average to a record high. The FTSE 100 was trading 0.4% higher at 6,806 this morning; it has not closed above this level since February 28th when it finished at 6,809.7. Gains were helped by well-received quarterly statements from the likes of BSkyB, Lloyds, BG Group and Schroders. "The FTSE 100 has made it to the 6,800 round number mark helped by a Fed statement and continued taper which maintained confidence in the US recovery following a weak GDP report," said Mike van Dulken, Head of Research at Accendo Markets. Investors were taking a bullish stance ahead of a flurry of economic data due out in today's session, including manufacturing, mortgage approvals and consumer lending figures from the UK, and jobless claims, personal spending and manufacturing indicators from the US. Overnight, it was revealed that activity in the Chinese manufacturing sector picked up a little in April but came in slightly lower than analysts' expectations. The government's manufacturing purchasing managers' index increased to 50.4 last month from 50.3 in March, but under the 50.5 consensus forecast. BSkyB, Lloyds, BG Group and Schroders gain Earnings fell 2.4% at BSkyB in the third quarter despite a rise in revenues, but continued investment in connected television services was repaid with better-than-expected new subscriptions, pushing shares higher this morning. Domestic lender Lloyds rose after saying that underlying profits rose 22% in the first quarter as it continues to expect to apply to regulators in the second half to restart dividend payments. Profits at oil and gas firm BG Group declined in the first quarter despite higher revenues, as lower production volumes and higher costs ate into the bottom line. However, the stock was performing well this morning as it bounced back after weakness earlier in the week. Fund manager Schroders was also higher as it reported record assets under management in the first quarter, helped by £3.8bn of net new business wins during the period. Heading the other way was engine maker Rolls-Royce after saying that full-year revenues and profits are likely to be hit by foreign exchange headwinds with underlying results flat. Scottish engineering group Weir failed to excite as it said trading in the last four months has been in line with expectations. This was helped by a strong performance in the oil and gas and power and industrial divisions. Professional Trading Indicators - FREE Trial! Fox Trading Signal Pro provides unique indicators and simple to use strategies that enable traders of all experience levels to trde the markets successfully.  Find out more, click here. FTSE 100 - Risers British Sky Broadcasting Group (BSY) 913.50p +3.81% Lloyds Banking Group (LLOY) 78.04p +3.56% Schroders (SDR) 2,627.00p +2.78% Royal Bank of Scotland Group (RBS) 305.20p +2.14% BG Group (BG.) 1,220.50p +1.88% Barclays (BARC) 256.50p +1.71% Hargreaves Lansdown (HL.) 1,188.00p +1.54% Aggreko (AGK) 1,601.00p +1.52% William Hill (WMH) 360.00p +1.49% TUI Travel (TT.) 433.70p +1.38% FTSE 100 - Fallers Sainsbury (J) (SBRY) 324.40p -3.37% Vodafone Group (VOD) 218.60p -2.39% Rolls-Royce Holdings (RR.) 1,025.00p -2.38% Randgold Resources Ltd. (RRS) 4,686.00p -1.97% Tesco (TSCO) 287.95p -1.71% Antofagasta (ANTO) 777.50p -1.21% Anglo American (AAL) 1,564.00p -1.14% Barratt Developments (BDEV) 365.60p -1.06% Smith & Nephew (SN.) 911.50p -0.87% Imperial Tobacco Group (IMT) 2,541.00p -0.63% FTSE 250 - Risers Genus (GNS) 1,058.00p +4.34% Hansteen Holdings (HSTN) 107.00p +3.98% IP Group (IPO) 178.00p +3.49% AL Noor Hospitals Group (ANH) 1,032.00p +3.41% Howden Joinery Group (HWDN) 335.70p +3.23% Perform Group (PER) 222.40p +3.20% Brown (N.) Group (BWNG) 529.00p +3.12% Foxtons Group (FOXT) 327.90p +3.08% Diploma (DPLM) 678.50p +3.04% Carphone Warehouse Group (CPW) 316.80p +2.92% FTSE 250 - Fallers CSR (CSR) 560.00p -2.52% Serco Group (SRP) 333.00p -2.09% Polymetal International (POLY) 556.50p -1.68% Kazakhmys (KAZ) 234.50p -1.51% Ladbrokes (LAD) 151.20p -1.37% Vedanta Resources (VED) 935.00p -1.16% Direct Line Insurance Group (DLG) 247.90p -0.96% Lancashire Holdings Limited (LRE) 693.50p -0.93% Regus (RGU) 207.10p -0.91% UK Event Calendar FINALS Brown (N.) Group IMSS Howden Joinery Group, Lloyds Banking Group, Phoenix Group Holdings (DI), Rolls-Royce Holdings, RPS Group, Schroders, Schroders (Non-Voting), Synthomer, Weir Group SPECIAL DIVIDEND PAYMENT DATE Next, Plus500 Ltd (DI) EGMS Sirius Real Estate Ltd. AGMS Aga Rangemaster Group, Alkane Energy, Alliance Trust, ARM Holdings, Core VCT, Core VCT 'B' Shares, Core VCT IV, Core VCT V, European Real Estate Inv Trust Ltd. Part Pref, Fisher (James) & Sons, GKN, Greggs, Henderson Group, Johnson Service Group, JPMorgan Private Equity Ltd USD Equity Shares, Kerry Group 'A' Shares, Millennium & Copthorne Hotels, Robinson, Rolls-Royce Holdings, Schroders, Schroders (Non-Voting), Synthomer, Weir Group UK ECONOMIC ANNOUNCEMENTS Consumer Credit (09:30) M4 Money Supply (09:30) M4 Sterling Lending (09:30) Mortgage Approvals (09:30) PMI Manufacturing (09:30) FINAL DIVIDEND PAYMENT DATE Dragon Oil, Foreign and Colonial Inv Trust, Jardine Lloyd Thompson Group, Plus500 Ltd (DI) Q1 BG Group, First Quantum Minerals Ltd., Lancashire Holdings Limited, Millennium & Copthorne Hotels, Shire Plc, Smith & Nephew, Wolfson Microelectronics PROVEN Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Spain revises its growth forecasts higher - Spain revises growth forecasts higher - Euro moves up towards 1.39 - Most markets closed for holiday FTSE-100: 0.39% Dax-30: Closed for holiday Cac-40: Closed for holiday FTSE Mibtel 30: Closed for holiday Ibex 35: Closed for holiday Stoxx 600: 0.07% Most of the main European equity markets were closed on Thursday in observance of May Day, although London and Copenhagen remained open. Hence, there are major, nor minor for that matter, economic reports due for release today on the Continent. Nonetheless, and despite many traders being away from their desks, the single currency is continuing to grind slowly higher ahead of tomorrow's US non-farm payrolls report. The above may well just be the result of some traders positioning themselves ahead of that key report. In fact, for now most observers seem to be continuing to expect the US economy to chug along, leading to widening interest differentials and hence a lower single currency. The wild-card of course are the continuing high portfolio flows into the Eurozone, which have been buoying the euro, alongside other factors. In any case, just as important as the level of the euro - from the European Central Bank's perspective - is how long it actually remains above these levels, says Alex Bueso at Sharecast. Of great interest, yesterday the Spanish government approved its new Stability Programme (SP) and new National Reform Plan (NRP) for up until 2017, which includes several upwards revisions. The growth outlook has been upgraded to 1.2% for 2014, 1.8% for 2015, 2.3% in 2016 and 3% in 2017. Critically, for the sustainability of Spain's national debt, it is expected to peak next year, although some economists believe those forecasts to still be too optimistic. Euro continues to grind higher The euro/dollar was 0.15% higher at 1.3890. Front-month Brent crude futures were off by 0.269% to the $107.78/barrel mark on the ICE. Losing Interest? You could earn more with a Stocks & Shares ISA. Grab a ready-made package or pick your own at The Share Centre. Capital at risk. Tax benefits of ISAs may change. US Market Report US close: Steady Fed helps stocks close at record high - FOMC holds steady with expected taper - US GDP expands just 0.1 per cent in Q1 - ADP payrolls beat forecast - Twitter, eBay provide a drag Dow Jones: 0.3% Nasdaq: 0.3% S&P 500: 0.3% US stocks ended the day at record levels as the Federal Reserve held steady on its policy course and with a few breezily positive remarks put a positive spin on a mixed day's trading. The Dow Jones Industrial closed up 0.3% at 16580.84, its seventh monthly gain in the past eight months, while the S&P closed up 0.3% and the Nasdaq bounced back from midway-point negative territory to also close up 0.3%. Despite near-stagnation in first-quarter gross domestic product growth, the (FOMC), which began its two-day policy meeting on Tuesday, revealed it continued to taper its monthly asset purchases with another £10bn increment, as expected. While every market commentator and his dog expects tapering to continue in similar increments, with a final $15bn cut on 29 October, the Fed's optimistic painting of the economic landscape helped inject confidence into the market. Earlier GDP figures had shown growth expanded at an annual rate of just 0.1% in the first quarter, a sharp slowdown from the 2.6% growth registered in the fourth quarter of 2013 and well below the 1% expansion expected by analysts. But this was brushed aside as largely due to extreme winter weather and is increasingly expected to enjoy a strong rebound in second-quarter growth. The Fed was convinced of this and said "growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions." The central bankers said household spending "appears to be rising more quickly" than investment, which "edged down". Other positive data included a rise in private-sector payrolls, as measured by ADP, by 220,000 last month, up from 209,000 in March and ahead of the 200,000 gain expected by analysts. Twitter shares tumble as user growth slows Among companies, Twitter's share price sunk as much as 12% during the day, but closing down 8.6%, after the social media messaging service disappointed investors with subdued user number growth in the first quarter. Despite beating analysts' forecasts, the company reported that membership rose at an annual rate of 25% to 255m in the first three months of the year, a slowdown from the 30% growth seen in the previous period. E-commerce group eBay also beat analysts' estimates but saw shares sink after disappointing with its outlook. The company forecast a smaller-than-expected profit for the second quarter and reported a $3bn tax charge as it decided to repatriate $9bn in foreign earnings, so it only keeps $6bn of its cash. Its shares closed down 5% on the day. Nuclear plant operator Exelon fell 3.2% after announcing that it will acquire Pepco, the utility group, for $27.25 a share, equal to $5.4bn. Shares in the latter surged to a 17.4% rise on the dat. Pharmacy group Express Scripts dropped as it slashed its 2014 forecasts and released lower-than-expected adjusted profits for the first quarter. Crude futures move lower West Texas Intermediate futures were 1.70% lower at $99.57 a barrel on the NYMEX. The yield on a 10-year US Treasury was down five basis points at 2.64%. S&P 500 - Risers Pepco Holdings Inc. (POM) $26.76 +17.42% Fiserv Inc. (FISV) $60.78 +7.03% Pitney Bowes Inc. (PBI) $26.80 +6.90% Dun & Bradstreet Corp. (DNB) $110.76 +6.86% Gilead Sciences Inc. (GILD) $78.49 +5.95% WellPoint Inc. (WLP) $100.68 +5.55% Sealed Air Corp. (SEE) $34.31 +5.28% Newfield Exploration Co (NFX) $33.85 +4.99% Alexion Pharmaceuticals Inc. (ALXN) $158.30 +4.39% Garmin Ltd. (GRMN) $57.10 +4.37% S&P 500 - Fallers Goodyear Tire & Rubber Co. (GT) $25.20 -7.39% Express Scripts Holding Co (ESRX) $66.58 -6.24% eBay Inc. (EBAY) $51.83 -4.97% Exelon Corp. (EXC) $35.03 -3.18% PACCAR Inc. (PCAR) $63.98 -2.78% Coach Inc. (COH) $44.65 -2.32% Marathon Oil Corp. (MRO) $36.15 -2.03% Noble Energy Inc. (NBL) $71.78 -1.75% Murphy Oil Corp. (MUR) $63.43 -1.70% Seagate Technology Plc (STX) $52.58 -1.70% Dow Jones I.A - Risers Intel Corp. (INTC) $26.69 +1.37% 3M Co. (MMM) $139.09 +1.12% Goldman Sachs Group Inc. (GS) $159.82 +1.00% Exxon Mobil Corp. (XOM) $102.41 +0.95% Walt Disney Co. (DIS) $79.34 +0.89% AT&T Inc. (T) $35.70 +0.79% International Machines Corp. (IBM) $196.47 +0.70% United Technologies Corp. (UTX) $118.33 +0.65% Nike Inc. (NKE) $72.95 +0.65% Coca-Cola Co. (KO) $40.79 +0.54% Dow Jones I.A - Fallers Pfizer Inc. (PFE) $31.28 -1.51% American Express Co. (AXP) $87.43 -0.41% Chevron Corp. (CVX) $125.52 -0.36% Travelers Company Inc. (TRV) $90.58 -0.35% Merck & Co. Inc. (MRK) $58.56 -0.27% Microsoft Corp. (MSFT) $40.40 -0.27% JP Morgan Chase & Co. (JPM) $55.98 -0.21% Unitedhealth Group Inc. (UNH) $75.04 -0.21% McDonald's Corp. (MCD) $101.38 -0.12% Verizon Communications Inc. (VZ) $46.73 -0.09% Nasdaq 100 - Risers Fiserv Inc. (FISV) $60.78 +7.03% Gilead Sciences Inc. (GILD) $78.49 +5.95% Avago Technologies Ltd. (AVGO) $63.50 +4.48% Alexion Pharmaceuticals Inc. (ALXN) $158.30 +4.39% Garmin Ltd. (GRMN) $57.10 +4.37% CH Robinson Worldwide Inc (CHRW) $58.90 +4.27% Micron Technology Inc. (MU) $26.12 +4.06% Sirius XM Holdings Inc (SIRI) $3.19 +3.91% Verisk Analytics Inc. (VRSK) $60.09 +3.82% Cerner Corp. (CERN) $51.30 +3.78% Nasdaq 100 - Fallers Express Scripts Holding Co (ESRX) $66.58 -6.24% eBay Inc. (EBAY) $51.83 -4.97% Charter Communications Inc. (CHTR) $135.57 -3.20% Check Point Software Technologies Ltd. (CHKP) $64.00 -2.84% PACCAR Inc. (PCAR) $63.98 -2.78% Catamaran Corp (CTRX) $37.75 -2.53% Seagate Technology Plc (STX) $52.58 -1.70% Intuitive Surgical Inc. (ISRG) $361.70 -1.66% Texas Instruments Inc (TXN) $45.45 -1.45% iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. Newspaper Round Up Thursday newspaper round-up: Zero-hour contracts, The City, Channel 5 The number of workers on zero-hours contracts has almost tripled to 1.4m since last year's estimate, according to official data on Wednesday that piled pressure on Vince Cable, the business secretary, to provide more safeguards for workers with no guaranteed minimum hours or pay. More than one in 10 employers are using such contracts, which are most likely to be offered to women, young people and people over 65. – The Guardian The future of the City of London is under threat after the European Union's highest court threw out a British legal challenge against plans for a financial transaction tax, Boris Johnson has warned. The Mayor of London attacked the "barmy" EU tax and warned that the latest defeat in the EU courts raised "serious questions" over the government's ability to defend the City's financial sector from damaging European regulation. – The Daily Telegraph Richard Desmond is set to complete the sale of Channel 5 to the owner of MTV for up to £450m. The deal, which is expected to be announced by Viacom in New York today or tomorrow, marks the first time that an American broadcaster has bought one Britain's five free-to-air channels. The purchase price, however, falls well short of the ambitious £700m target set by Mr Desmond, who also owns the Daily Express and Daily Star newspapers. – The Times WM Morrison today unveils permanent price cuts on hundreds of products such as sausages, crisps and salmon to help "smart" shoppers with their budgets. The supermarket will cut prices by an average 17% across 1,200 products. Chief executive Dalton Philips said: "Customers have been so smart shopping in five different stores a week to get best value. "They are getting tired of phoney, tit-for-tat price wars. We're going to be cheaper permanently on the products that matter most to them. It's our declaration of independence." – Daily Express The company that advised the government not to raise its flotation price for Royal Mail made £8m from selling its shareholding within a week. The asset management division of Lazard, adviser for the initial public offering, was one of sixteen institutions given priority access to the shares, which Labour said amounted to a "golden ticket". As the price soared, it cashed in its six million shares, the head of the division told the Commons public accounts committee. – The Times A 50% slump in profits and a government crackdown on its most lucrative business would not normally be a cause for celebration, but, after the year Ladbrokes has had, it's all relative. Shares in the embattled bookmaker jumped by 9.9p to 153.3p, a rise of almost 7%, as the market breathed a sigh of relief that the group's recent dismal run of luck did not get any worse. – The Times   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49