Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Monday, 04 July 2016 09:54:35 Monitor Quote Charts News CFD's Compare Brokers Free BB   Sponsored by: Galvan Brexit: Where will the markets go from here? Brexit has wiped £100 billion off UK stock prices.  But where are the markets headed next? Download your FREE report now London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Osborne to give economy fiscal boost Stocks in London moved higher at the start of trading, with investors taking their cue from a positive session in Asia, although with US markets due to remain closed in observance of the 4 July holiday trading was expected to be subdued. As of 08:27 BST the FTSE 100 was gaining 20.77 points or 0.23% to 6,599.39, while the Shanghai Stock Exchange´s Composite Index finished the session with gains of 1.91% to 2,988.60. Also moving markets, Osborne told the Financial Times he would cut the corporation tax rate to below 15% from the current 20%, which would make it the lowest of any major economy. The chancellor also said Britain was facing a "very challenging time" and called on the Bank of England to do what it can to avoid "a contraction of credit in the economy". Michael Hewson, chief market analyst at CMC Markets, said; "With US markets closed today for the 4th July Independence Day holiday European markets may well be quieter than usual, though they will be no less driven by the expectations of lower for longer interest rates in light of the events of recent days. "The main focus this week away from Brexit concerns given that the triggering of article 50 seems some way off is likely to be on the latest US economic data towards the end of the week, the latest FOMC minutes and the latest US payrolls report, given the shocker of a report we saw in May." Stocks got a boost at the end of last week after Bank of England governor Mark Carney said the central bank was likely to cut interest rates over the summer. On the macroeconomic front on Monday, UK construction PMI for June is at 0930 BST. Hewson expects to see a decline to 50.6 from 51.2 mainly on the back of pre-Brexit uncertainty. "The recent weakness in this sector in recent months could also account for why investors sold off the housebuilders so aggressively in the wake of last month's Brexit vote," he said. In corporate news, HSBC confirmed the completion of the sale of its Brazil business on Monday, after announcing on 8 June that it had received all necessary regulatory approvals for the transaction. The bank had put HSBC Brazil on the market as part of its efforts to streamline the global business, accepting an offer from Banco Bradesco. "The sale of HSBC Brazil represents a significant step in HSBC's stated goal to optimise its global network and reduce complexity," the board said in the announcement. HSBC previously confirmed the deal was worth $5.2bn in an all-cash transaction. Capita announced the appointment of Ian Powell as a non-executive director and chairman designate on Monday, taking effect from 1 September. The FTSE 100 firm said Powell would officially succeed Martin Bolland as non-executive chairman on 1 January 2017. Until the end of June, Ian Powell was chairman and senior partner of PricewaterhouseCoopers UK. Conditions in the offshore industry remain depressed, reflecting global economic uncertainty, which will see profits for 2016 come in "materially lower" than in the full-year 2015, Clarkson said in a trading update. However, overall transaction volumes within the broking division continued to grow, albeit alongside declining activity in the financial division. The shipbroker referenced the sharp fall seen in the Baltic Dry Index to all-time lows during the first quarter of the year. Property investment company Kennedy Wilson Europe said it has achieved a major milestone at its Baggot Plaza, Dublin project, reaching practical completion and handing the building over to the governor and company of the Bank of Ireland. The FTSE 250 firm entered into an agreement for lease with the Bank of Ireland in May 2015, for a 25-year lease of the entire building at a headline rent of €47.50 per square foot. UK Investor Network Presents...Download FREE Investor reports on Commodity and Property! See the latest offers, reports and analysis available from the investment world... Click here to View All the Reports>> UK Event Calendar Monday 04 July INTERIMS RM INTERIM DIVIDEND PAYMENT DATE Lakehouse, Mitchells & Butlers, Renew Holdings INTERNATIONAL ECONOMIC ANNOUNCEMENTS Factory Orders (US) (15:00) Producer Price Index (EU) (10:00) FINALS Oneview Group AGMS LGO Energy TRADING ANNOUNCEMENTS Kier Group UK ECONOMIC ANNOUNCEMENTS PMI Construction (09:30) FINAL DIVIDEND PAYMENT DATE Amec Foster Wheeler, Beximco Pharmaceuticals Ltd. GDR (Reg S), HSS Hire Group , International Consolidated Airlines Group SA (CDI), Learning Technologies Group , Nasstar, Pacific Assets Trust, Scottish Mortgage Inv Trust, Synthomer, Tandem Group, WPP Join the UK`s hottest investment niche & discover great returns! Earn 6.37% up to 7.52% p.a paid to your bank account monthly! Limited availability - Offer ends on 31.6.16  Click Here Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks little changed; Italian banks tumble European stocks were little changed early on Monday as investors continued to mull over the implications of Britain's decision to leave the European Union, with trade expected to be quieter than usual as US markets will be closed for Independence Day. At 0900 BST, the benchmark Stoxx Europe 600 index and Germany's DAX were both down 0.1%, while France's CAC 40 was 0.2% weaker. At the same time, oil prices nudged higher. West Texas Intermediate was up 0.3% at $49.13 a barrel and Brent crude was also 0.3% firmer, at $50.48. Markets received a boost at the end of last week after Bank of England governor Mark Carney said interest rates were likely to be cut over the summer. Mike van Dulken, head of research at Accendo Markets, said the theme this week was almost certainly going to remain about the continued fallout from Brexit as market participants continue to digest and re-price for the new financial, economic and political landscape. "Any more hints from central banks about stimulus could also help keep the ball in the air, helping markets shrug off the Brexit impact and push on with their recoveries." Chancellor George Osborne told the Financial Times that he plans to cut corporation tax to ensure businesses keep investing in the UK after it opted to leave the European Union. He said he would cut the tax rate to below 15% from the current 20%, which would make it the lowest of any major economy. Osborne said the move was part of his new five-point plan to build a "super-competitive economy" with low tax rates and said it was important for "Britain to "get on with it" show investors it was still "open for business". In terms of sector, the Stoxx 600 basic resources index was up 2% as metals prices rose, with London-listed Fresnillo surging 8% as silver prices broke through $21 an ounce. On the downside, however, Italian banking stocks were under the cosh. Banca Monte dei Paschi di Siena took a beating following a report in daily La Repubblica that the European Central Bank has written to the lender asking for a new three-year business plan that would require it to reduce non-performing loans to an adequate level. Italy's FTSE MIB significantly underperformed its peers, down 1%. Prime Minister Matteo Renzi said on Monday that Italy has no plans to defy EU rules by pumping billions of euros of public money into its banks, denying a report in the Financial Times. Elsewhere, beleaguered German car maker Volkswagen was in the red after chief executive Matthias Muller rejected compensation calls for European customers in the wake of the emissions scandal. Deutsche Boerse and London Stock Exchange were in focus as the latter was set to hold a general meeting for shareholders to vote on their recommended all-share merger. Learn how to become an Angel Investor from leading Angels Business Agent, Bond Dickinson and Angels Den would like to invite you to attend our ‘Become an Angel’ lunchtime masterclass. The Become an Angel masterclass is designed to provide Angels with valuable information in order to allow them to make informed and educated decisions when it comes to investing. It also allows Angel Investors to network with other Angels and thought leaders in the market. This class will cover the basics of investing by highlighting what to look for in businesses and identifying the best practices for making investments. Click Here to Register US Market Report US close: Stocks end higher ahead of long weekend US stocks finished higher on Friday ahead of the Fourth of July long weekend as investors set Brexit worries aside and weighed a batch of economic data. The Dow Jones Industrial Average rose 0.10%, the S&P 500 increased 0.19% and Nasdaq climbed 0.41%. Oil prices were also higher with West Texas Intermediate crude up 1.7% to $49.17 per barrel and Brent up 1.7% to $50.58 per barrel at 2058 BST. In economic data, the seasonally adjusted final Markit US manufacturing purchasing managers' index (PMI) registered 51.3 in June, up from 50.7 in May as manufacturers indicated a slight rebound in production volumes during June, helped by the fastest rise in new work since March. June's final reading marked a downward revision from a previous estimate of 51.4 but was better than the 51.2 that analysts had been expecting. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.2 in June from 51.3 the month before. Analysts had pencilled in no change to the reading. "Manufacturing data has been showing steady improvement for some time in the US, and today's promising numbers indicate that trend is set to continue," said Dennis de Jong, managing director t UFX.com. "Janet Yellen and Co. will have obvious concerns about the potential impact of Brexit on US interests across all sectors, not least a strengthening dollar that will make manufactured goods more expensive for foreign buyers. However, with North American trade partners Canada and Mexico the main recipients of US exports, it may only be ripples that are felt from the earthquake that is gripping Europe at present." US construction spending fell 0.8% in May after a downwardly revised 2.0% drop in April, the Commerce Department said, missing forecasts for a 0.7% increase. Elsewhere, China's official manufacturing PMI fell slightly to 50.0 in June from 50.1 in May, as expected. Caixin's manufacturing PMI decreased to 48.6 in June from 49.2 the previous month, missing forecasts for a reading of 49.2. In Japan, deflation eased in May with the consumer price index down 0.4% year-on-year compared to a 0.3% fall the previous month. Analysts had expected it to worsen to a 0.5% decline. Japanese household spending shrank by 1.1% year-on-year in May, as expected. The unemployment rate was unchanged at 3.2% in April, the Ministry of Internal Affairs and Communications said, also as expected. In corporate news, Tesla Motors recovered from earlier falls after it emerged that US safety regulators would be investigating 25,000 Tesla S cars following an autopilot feature that was claimed to have caused a fatality. Harley-Davidson jumped amid reports that private-equity firm Kohlberg Kravis Roberts is considering takeover of the group. Hersheys slumped after it rejected a bid from rival Mondelez. Hewlett-Packard edged higher as the company won $3bn in damages from Oracle in a court battle. HP claimed that Oracle backed out of a deal to support HP servers that used the Itanium line of chips from Intel Corp. Oracle said it would appeal the ruling. Micron Technology declined after reporting a quarterly loss and announcing about 2,400 job cuts. In currency markets, the dollar rose 0.24% against the pound but fell 0.64% against the yen and dropped 0.29% versus the euro. S&P 500 - Risers Harley-Davidson Inc. (HOG) $53.59 +18.30% Endo International Plc (ENDP) $16.96 +8.79% United States Steel Corp. (X) $18.28 +8.42% Transocean Ltd. (RIG) $12.75 +7.23% Chesapeake Energy Corp. (CHK) $4.57 +6.89% Netflix Inc. (NFLX) $96.62 +5.62% Marathon Oil Corp. (MRO) $15.69 +4.50% Diamond Offshore Drilling Inc. (DO) $25.40 +4.40% Marathon Petroleum Corporation (MPC) $39.31 +3.57% American Airlines Group (AAL) $29.27 +3.41% S&P 500 - Fallers Micron Technology Inc. (MU) $12.45 -9.52% Hershey Foods Corp. (HSY) $112.06 -4.86% Williams Companies Inc. (WMB) $20.58 -4.85% Avery Dennison Corp. (AVY) $72.65 -2.81% Humana Inc. (HUM) $175.55 -2.41% Chipotle Mexican Grill Inc. (CMG) $393.65 -2.26% Extra Space Storage (EXR) $90.61 -2.09% Monsanto Co. (MON) $101.30 -2.04% Bank Of New York Mellon Corp. (BK) $38.08 -1.99% Sl Green Realty Corp. (SLG) $104.35 -1.99% Dow Jones I.A - Risers Home Depot Inc. (HD) $129.59 +1.49% Pfizer Inc. (PFE) $35.58 +1.04% Caterpillar Inc. (CAT) $76.39 +0.77% Verizon Communications Inc. (VZ) $56.22 +0.67% Nike Inc. (NKE) $55.56 +0.65% Visa Inc. (V) $74.61 +0.59% Merck & Co. Inc. (MRK) $57.94 +0.57% International Business Machines Corp. (IBM) $152.47 +0.45% Apple Inc. (AAPL) $95.96 +0.38% Cisco Systems Inc. (CSCO) $28.78 +0.33% Dow Jones I.A - Fallers JP Morgan Chase & Co. (JPM) $61.33 -1.31% Chevron Corp. (CVX) $104.17 -0.63% E.I. du Pont de Nemours and Co. (DD) $64.40 -0.62% Coca-Cola Co. (KO) $45.10 -0.51% Unitedhealth Group Inc. (UNH) $140.75 -0.32% Wal-Mart Stores Inc. (WMT) $72.81 -0.29% Travelers Company Inc. (TRV) $118.85 -0.16% Boeing Co. (BA) $129.68 -0.15% Intel Corp. (INTC) $32.77 -0.10% American Express Co. (AXP) $60.72 -0.06% Nasdaq 100 - Risers Endo International Plc (ENDP) $16.96 +8.79% Netflix Inc. (NFLX) $96.62 +5.62% Biomarin Pharmaceutical Inc. (BMRN) $81.35 +4.56% American Airlines Group (AAL) $29.27 +3.41% Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $40.94 +2.75% Regeneron Pharmaceuticals Inc. (REGN) $358.51 +2.66% Liberty Global plc Series A (LBTYA) $29.74 +2.32% Celgene Corp. (CELG) $100.64 +2.04% Whole Foods Market Inc. (WFM) $32.67 +2.03% Fastenal Co. (FAST) $45.27 +1.98% Nasdaq 100 - Fallers Micron Technology Inc. (MU) $12.45 -9.52% Western Digital Corp. (WDC) $46.46 -1.69% Seagate Technology Plc (STX) $24.00 -1.48% Lam Research Corp. (LRCX) $82.97 -1.30% NetApp Inc. (NTAP) $24.29 -1.22% Skyworks Solutions Inc. (SWKS) $62.58 -1.11% QUALCOMM Inc. (QCOM) $53.02 -1.03% KLA-Tencor Corp. (KLAC) $72.63 -0.85% Akamai Technologies Inc. (AKAM) $55.47 -0.82% Open Trading Account Thinking about trading binary options? Test out a free $10,000 Demo account with iq option. Click Here to start trading Newspaper Round Up Monday newspaper round-up: Robots, corporation tax, pensions, private equity Britain's decision to leave the EU will force companies that rely on migrant labour to rethink their business models, if it leads to restrictions on low-skilled immigration. For some, robots may be the most likely replacement, according to a report by the Resolution Foundation think-tank. Almost one third of the workforce in food manufacturing are EU migrants. More than a fifth of domestic personnel are from the EU, and more than one in eight workers in sectors ranging from agriculture to warehousing and textiles manufacturing. - Financial Times George Osborne is planning to slash corporation tax to less than 15 per cent in an effort to woo business deterred from investing in a post-Brexit Britain as part of his new five-point plan to galvanise the economy. While the chancellor did not backtrack on his warning that leaving the EU could push the country into recession, he told the Financial Times: "We must focus on the horizon and the journey ahead and make the most of the hand we've been dealt." - Financial Times The Pension Regulator should be given new powers to block company deals so that employees and pensioners are better protected in the wake of events such asthe collapse of BHS, the former chair of the Pension Protection Fund has said. Lady Judge, who stepped down last month, said the regulator was not equipped to deal with situations such as that at BHS, sold by Sir Philip Green to Dominic Chappell for £1 last year and now left with an estimated £571m pensions black hole. - Guardian The weakness in the pound will absorb some of the shock of the Brexit vote as it weighs on domestic business spending in the next few months, according to the Confederation of British Industry (CBI). The business group said the boost to exporters, whose goods will become relatively cheaper after the decline in sterling, could provide politicians some breathing space to ensure long-term global trade links are maintained. - Telegraph Britain's private equity industry group has set out a post-Brexit plan including access to the single market and accepting freedom of movement, as data shows that funds have held off high-value deals in the lead-up to the referendum. British buy-out firms invested £6bn in the first half of the year, down from £9bn in the previous six months to December, as investors were less likely to strike mega-deals, according to Imperial College London's Centre for Management Buy-Out Research. - Telegraph Billions of pounds of European funding for UK clean energy projects including offshore wind farms as well as universities and other big infrastructure schemes have been jeopardised by Britain's vote to quit the EU. Britain is a 16 per cent shareholder in the European Investment Bank (EIB), which in the past decade has lent more than £42 billion at super-cheap rates to wind farms, hospitals, railways, social housing and a string of other projects. - The Times London Stock Exchange shareholders are expected to nod through a £20.3 billion merger with Deutsche Börse today. The deal between the exchanges may be modified in the wake of British voters' decision last month to leave the European Union, but those close to the deal have insisted that the parties remain undeterred by the result of the referendum. - 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 advertise@advfn.com     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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 01 July 2016 20:26:25 Monitor Quote Charts News CFD's Compare Brokers Free BB   Are you confused about your pension? If you have a £250,000 portfolio, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can use right now. Don't miss it! Click Here to Download Your Guide! London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE upholds rally on prospect of BoE stimulus The FTSE ended the week on a high note as investors pushed aside worries about Brexit and as sentiment was lifted by hopes of further stimulus measures. The rally, which started on Tuesday, held up through the rest of the week to the surprise of economists who had expected the sell-off to resume at some point following last week's shock EU referendum result. Britain's vote to leave the EU last Friday had sent stocks tumbling for the two days of trading that followed. "The chance to pick up choice shares on the cheap was evidently irresistible," said IG senior market analyst Chris Beauchamp. "Whether the market can sustain this ebullient rally into next week is a different matter entirely. Chart devotees will point out that the FTSE 100 has finally broken the downtrend that has ruled since April of last year - will the robustness in the face of uncertainty be enough to drive markets higher once again?" He added that those hoping for a respite from Brexit next week are "likely to be disappointed (it was a naive hope anyway)". Bank of England governor Mark Carney gave the market a boost by suggesting late on Thursday that the central bank will need to cut interest rates to cushion the blow of Brexit in coming months. Nomura's UK economists expect a 25 basis points (bps) rate cut from the current 0.50% in August, followed by another 25 bps cut in November. "The MPC may ultimately conclude it can go slightly negative, or it may prefer to keep a marginally positive rate." Meanwhile, in economic data, the UK manufacturing sector saw a modest improvement in June, rising to a five-month high. The Markit/CIPS UK manufacturing purchasing managers' index increased to 52.1 from a revised reading of 50.4 in May. Economists had been expecting a reading of 50.2. "While the Bank of England remains poised to act if needed and the UK's trading relationships are unchanged during the two-year negotiation period, there's a clear risk that ongoing uncertainty will have at least some short - term impact on manufacturing during the coming quarters," said Rob Dobson, senior economist at survey compilers Markit. "The big question is whether any negative impact from uncertainty can be partly offset by a boost to exports resulting from the fall in the pound." In the US, the seasonally adjusted final Markit US manufacturing PMI registered 51.3 in June, up from 50.7 in May. June's final reading marked a downward revision from a previous estimate of 51.4 but was better than the 51.2 that analysts had been expecting. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.2 in June from 51.3 the month before. Analysts had pencilled in no change to the reading. US construction spending fell 0.8% in May after a downwardly revised 2.0% drop in April, the Commerce Department said, missing forecasts for a 0.7% increase. In Asia, China's official manufacturing PMI fell slightly to 50.0 in June from 50.1 in May, as expected. Caixin's manufacturing PMI decreased to 48.6 in June from 49.2 the previous month, missing forecasts for a reading of 49.2. Japan's deflation eased in May with the consumer price index down 0.4% year-on-year compared to a 0.3% fall the previous month. Analysts had expected it to worsen to a 0.5% decline. On the corporate front, housebuilders were among the biggest risers on the FTSE with Persimmon, Taylor Wimpey and Berkeley Group Holdings in the black on the prospect of lower interest rates attracting buyers. Royal Bank of Scotland dropped after Morgan Stanley cut its rating on the stock to 'equal weight' from 'overweight' and reduced its earnings forecast by a third for 2017, and by a quarter for 2018. BHP Billiton was in the red as its plans to settle claims over the 2015 Samarco mine disaster suffered a blow on Friday when a Brazilian court reinstated a AUD$8bn public civil claim. WPP jumped after the advertising giant said it has agreed to invest in Woven Digital, a US media company aimed at millennials. Randgold Resources and Fresnillo gained as gold and metal prices jumped. Join the UK`s hottest investment niche & discover great returns! Earn 6.37% up to 7.52% p.a paid to your bank account monthly! Limited availability - Offer ends on 31.6.16  Click Here Market Movers FTSE 100 (UKX) 6,581.28 1.18% FTSE 250 (MCX) 16,468.27 1.21% techMARK (TASX) 3,232.07 0.49% FTSE 100 - Risers Fresnillo (FRES) 1,760.00p 7.06% Persimmon (PSN) 1,544.00p 6.70% TUI AG Reg Shs (DI) (TUI) 904.00p 6.17% Johnson Matthey (JMAT) 2,957.00p 5.57% Taylor Wimpey (TW.) 139.30p 5.29% Berkeley Group Holdings (The) (BKG) 2,654.00p 5.19% WPP (WPP) 1,630.00p 5.03% Paddy Power Betfair (PPB) 8,250.00p 4.50% St James's Place (STJ) 820.00p 4.46% Provident Financial (PFG) 2,402.00p 4.43% FTSE 100 - Fallers Sage Group (SGE) 626.00p -3.02% Travis Perkins (TPK) 1,451.00p -1.56% Capita (CPI) 950.00p -1.25% Royal Bank of Scotland Group (RBS) 169.70p -1.11% Hammerson (HMSO) 532.50p -1.02% United Utilities Group (UU.) 1,030.00p -0.48% Informa (INF) 726.00p -0.34% London Stock Exchange Group (LSE) 2,523.00p -0.32% BHP Billiton (BLT) 940.00p -0.30% GlaxoSmithKline (GSK) 1,600.00p -0.28% FTSE 250 - Risers Crest Nicholson Holdings (CRST) 395.00p 10.96% Hochschild Mining (HOC) 195.00p 8.33% Essentra (ESNT) 552.50p 7.70% Centamin (DI) (CEY) 141.30p 7.13% TalkTalk Telecom Group (TALK) 233.50p 6.52% Smurfit Kappa Group (SKG) 1,757.00p 6.42% Dairy Crest Group (DCG) 571.00p 6.23% Redrow (RDW) 333.90p 6.20% Genus (GNS) 1,659.00p 6.01% Britvic (BVIC) 619.50p 5.90% FTSE 250 - Fallers Stagecoach Group (SGC) 213.70p -7.53% Big Yellow Group (BYG) 751.50p -3.78% Polypipe Group (PLP) 251.00p -3.61% Daejan Holdings (DJAN) 4,876.00p -3.35% Ocado Group (OCDO) 224.00p -2.90% Restaurant Group (RTN) 279.60p -2.78% Metro Bank (MTRO) 1,758.00p -2.77% Sports Direct International (SPD) 310.80p -2.72% BTG (BTG) 705.50p -2.29% Brexit: Where will the markets go from here? Brexit has wiped £100 billion off UK stock prices. But where are the markets headed next? Download your FREE report now Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Markets end positive a week after Brexit European stocks managed to finish Friday comfortably in the green, after some hesitance in the middle of the session as investors digested the prospect of further central bank easing in the wake of the Brexit vote. The benchmark Stoxx Europe 600 index was last up 0.65%, Germany's DAX was around the 1% mark and France's CAC was 0.79% higher. In London, the FTSE 100 was nearing the 1.2% mark while the more domestically-focused FTSE 250 was ahead by more than 1.2%. Financial stocks were among the worst performers of the day after European Central Bank sources refuted claims that the central bank was considering abandoning its capital key for quantitative easing purchases. Oil prices continued their rollercoaster ride, and were mixed towards the end of the day before turning higher. West Texas Intermediate was last up 0.04% at $48.35 per barrel, and Brent crude was 0.12% higher at $49.77. Stocks had kicked off the first day of the quarter on the front foot, supported by comments from Bank of England governor Mark Carney on Thursday. He hinted at the prospect of further interest rate cuts over the summer following the UK's decision to leave the European Union. "The committee will make an initial assessment on 14 July, and a full assessment complete with a new forecast will follow in the August Inflation Report," Carney said. "In August, we will also discuss further the range of instruments at our disposal." Mike van Dulken, head of research at Accendo Markets, said: "While markets like the idea of more stimulus from any major central bank, they especially like the idea that a weak GBP sterling keeps the USD strong and thus fends off the Fed from a rate rise for a good while longer." Investors in Europe also digested data out of China on Friday that showed the manufacturing sector weakened, but the services sector improved. The unofficial Caixin manufacturing purchasing managers' index dropped for the third month in a row to 48.6 in June from 49.2 in May, missing expectations for it to remain unchanged. A reading below 50 indicates contraction. China's official manufacturing PMI fell to 50.0 in June from 50.1 the previous month, in line with expectations. Official data out of Beijing showed the non-manufacturing PMI, which covers services such as retail and real estate, improved to 53.7 from 53.1 in May. In corporate news, AstraZeneca was pushing higher after a slow start, after announcing before the open that it has entered into agreements to support its strategic focus on three main therapy areas - respiratory, inflammation and autoimmunity; cardiovascular and metabolic disease; and oncology. BHP Billiton was well ahead despite saying that its plans to settle claims over the 2015 Samarco mine disaster had suffered a major blow after a Brazilian court reinstated a AUD 8bn public civil claim. Eurostat data released during the day showed the eurozone unemployment rate took a dip in May to its lowest level since July 2011. The unemployment rate came in at 10.1%, down from 10.2% in April and 11% in May 2015, and in line with expectations. Unemployment in the EU-28 group of countries declined to 8.6% in May from 8.7% the month before and 9.6% in May 2015. That was the lowest rate recorded in the group since March 2009. Elsewhere, eurozone manufacturing growth rose to a six-month high in June, according to Markit, though it warned that the data was gathered before the UK's decision to the leave the European Union. Learn how to become an Angel Investor from leading Angels Business Agent, Bond Dickinson and Angels Den would like to invite you to attend our ‘Become an Angel’ lunchtime masterclass. The Become an Angel masterclass is designed to provide Angels with valuable information in order to allow them to make informed and educated decisions when it comes to investing. It also allows Angel Investors to network with other Angels and thought leaders in the market. This class will cover the basics of investing by highlighting what to look for in businesses and identifying the best practices for making investments. Click Here to Register US Market Report US open: Stocks rise ahead of Independence Day celebrations US stocks rose for a third day on Friday ahead of the long weekend as investors took a break from worrying about Brexit and the uncertainty surrounding the upcoming US Presidential election. The Dow Jones Industrial Average rose 0.29%, the S&P 500 increased 0.35% and the Nasdaq gained 0.36% at 1518 BST. Traders seemed to be buying up before US markets close for trading on Monday 4 July for Independence Day. Oil prices were also higher with West Texas Intermediate crude up 0.33% to $48.49 per barrel and Brent up 0.22% to $49.82 per barrel at 1520 BST. In economic data, the seasonally adjusted final Markit US manufacturing purchasing managers' index (PMI) registered 51.3 in June, up from 50.7 in May as manufacturers indicated a slight rebound in production volumes during June, helped by the fastest rise in new work since March. June's final reading marked a downward revision from a previous estimate of 51.4 but was better than the 51.2 that analysts had been expecting. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.2 in June from 51.3 the month before. Analysts had pencilled in no change to the reading. "Manufacturing data has been showing steady improvement for some time in the US, and today's promising numbers indicate that trend is set to continue," said Dennis de Jong, managing director t UFX.com. "Janet Yellen and Co. will have obvious concerns about the potential impact of Brexit on US interests across all sectors, not least a strengthening dollar that will make manufactured goods more expensive for foreign buyers. However, with North American trade partners Canada and Mexico the main recipients of US exports, it may only be ripples that are felt from the earthquake that is gripping Europe at present." US construction spending fell 0.8% in May after a downwardly revised 2.0% drop in April, the Commerce Department said, missing forecasts for a 0.7% increase. Elsewhere, China's official manufacturing PMI fell slightly to 50.0 in June from 50.1 in May, as expected. Caixin's manufacturing PMI decreased to 48.6 in June from 49.2 the previous month, missing forecasts for a reading of 49.2. In Japan, deflation eased in May with the consumer price index down 0.4% year-on-year compared to a 0.3% fall the previous month. Analysts had expected it to worsen to a 0.5% decline. Japanese household spending shrank by 1.1% year-on-year in May, as expected. The unemployment rate was unchanged at 3.2% in April, the Ministry of Internal Affairs and Communications said, also as expected. In corporate news, Tesla Motors recovered from earlier falls after it emerged that US safety regulators would be investigating 25,000 Tesla S cars following an autopilot feature that was claimed to have caused a fatality. Hersheys slumped after it rejected a bid from rival Mondelez. Apple gained amid reports it is in talks to buy Jay Z's Tidal streaming music service. Hewlett-Packard edged higher as the company won $3bn in damages from Oracle in a court battle. HP claimed that Oracle backed out of a deal to support HP servers that used the Itanium line of chips from Intel Corp. Oracle said it would appeal the ruling. Open Trading Account Thinking about trading binary options? 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Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Friday, 01 July 2016 09:58:59 Monitor Quote Charts News CFD's Compare Brokers Free BB   Are you confused about your pension? If you have a £250,000 portfolio, download the guide for retirees written by Forbes columnist and money manager Ken Fisher's firm. Even if you have something else in place, this must-read guide includes research and analysis you can use right now. Don't miss it! Click Here to Download Your Guide! London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Equities slightly higher on stimulus hopes London stocks opened higher on Friday, underpinned by expectations of fresh stimulus from the Bank of England and possibly from the European Central Bank. The FTSE 100 was trading almost flat at 6,505.65, up by just 0.02%, despite a backdrop of positive trading overnight on Wall Street and in the Asia Pacific region. The mood was supported by BoE governor Mark Carney, who on Thursday hinted at the prospect of further interest rate cuts over the summer. Furthermore, after the close of trading in London on Thursday, Bloomberg reported that some ECB officials supported broadening their programme of quantitiave easing to include more debt from the likes of Italy and Spain. CMC Markets' Michael Hewson said: "While a rate cut probably won't come in July given the governor's assertion that the MPC would assess situation at the July 14 meeting, further measures could well get implemented at the August meeting when the bank sets out its latest inflation report, along with revised growth forecasts where we are quite likely to see the 2016 forecast lowered sharply from the current 2%." "Yesterday we saw Q1 GDP confirmed at 0.4% and with Q2 likely to struggle to grow at all, its highly questionable that we would have got anywhere near 2%, whichever way last week's vote went." Expectations of further policy easing from the BoE and ECB helped compensate some downbeat data published during Asian trading hours. The Caixin manufacturing purchasing managers' index, a private gauge of factory activity, dropped for the third month in a row to 48.6 in June from 49.2 in May, missing expectations for it to remain unchanged. A reading below 50 indicates contraction. China's official manufacturing PMI fell to 50.0 in June from 50.1 the previous month, in line with expectations. Capital Economics said: "The manufacturing PMIs continue to disappoint. But given the recent resilience of the service sector and signs of strength in construction, we still aren't overly concerned about the near-term outlook for China's economy." The Shanghai Stock Exchange´s Composite index finished the day up by 0.11% to 2,932.823. Meanwhile, in Japan, core consumer prices declined for a third consecutive month in May, by 0.4%, while household spending was 1.1% weaker versus a year ago. In parallel, the Bank of Japan´s index of corporate confidence fell from +22 in March to +19 in June. Still to come, UK manufacturing PMI is at 0930 BST. In the US, Markit manufacturing PMI is at 1445 BST, while ISM manufacturing is at 1500 BST, along with construction spending. Some Deutsche Boerse owners undecided on LSE tie-up In corporate news, LSE shareholders continued to support a tie-up with German peer Deutsche Boerse, but some of the latter´s main investors remained undecided about whether to tender their shares, according to the Wall Street Journal. Shareholders representing comfortably more than 75% of the LSE´s ownership had told their proxy advisers to vote in favour of the merger at the special shareholder meeting scheduled for 4 July. However, several large shareholders in Deutsche Boerse told the newspaper they remained undecided regarding whether to tender their shares. BHP Billiton's plans to settle claims over the 2015 Samarco mine disaster suffered a major blow on Friday when a Brazilian court reinstated a AUD$8bn public civil claim. BHP and joint-venture partner Vale agreed a $3bn settlement in March, however Brazil's Superior Court issued an interim order suspending the ratification and reinstated the public civil claim for clean-up costs and damages against Samarco, Vale and BHP. "BHP Billiton Brasil intends to appeal the decision of the Superior Court of Justice," BHP said in a statement. Synthomer completed the acquisition of rival Hexion Performance Adhesives & Coatings for a total cash consideration of $226m, funded via existing cash resources and the utilisation of additional credit facilities. Hexion´s China business, which accounts for about 1.0% of the parent company´s sales, would be subject to a deferred completion, which was expected for the third quarter of 2016. Ahead of its full-year numbers the polymer manufacturer said its outlook, in constant currency, remained unchanged and in-line with the Board´s expectations. Pharmaceutical giant AstraZeneca announced on Friday it has entered into agreements to support its strategic focus on three main therapy areas - respiratory, inflammation and autoimmunity; cardiovascular and metabolic disease; and oncology. Join the UK`s hottest investment niche & discover great returns! Earn 6.37% up to 7.52% p.a paid to your bank account monthly! Limited availability - Offer ends on 31.6.16  Click Here UK Event Calendar Friday 01 July INTERIM DIVIDEND PAYMENT DATE A&J Mucklow Group, Associated British Foods, Bellway, Blackrock Frontiers Investment Trust, Debenhams, easyHotel, General Accident 'A', Grainger, Shaftesbury, SSP Group , Victrex plc QUARTERLY PAYMENT DATE Blackrock North American Income Trust INTERNATIONAL ECONOMIC ANNOUNCEMENTS Auto Sales (US) (18:00) Construction Spending (US) (15:00) ISM Manufacturing (US) (15:00) ISM Prices Paid (US) (15:00) Unemployment Rate (EU) (10:00) ANNUAL REPORT Alpha Real Trust Ltd. EGMS Bluefield Solar Income Fund Limited AGMS Bellzone Mining, Pennon Group FINAL DIVIDEND PAYMENT DATE Billington Holdings, Bunzl, Camellia, Headlam Group, Hill & Smith Holdings, Hilton Food Group, Menzies(John), Rolls-Royce Holdings, RTC Group, Whitbread Brexit: Where will the markets go from here? Brexit has wiped £100 billion off UK stock prices. But where are the markets headed next? Download your FREE report now Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks edge higher on stimulus hopes European stocks edged higher in early trade, underpinned by expectations of further central bank stimulus. At 0835 BST, the benchmark Stoxx Europe 600 index was up 0.3%, Germany's DAX was 0.5% firmer and France's CAC 40 was up 0.4%. In London, the FTSE 100 was 0.2% higher while the more domestically-focused FTSE 250 was 0.1% lower. At the same time, oil prices made small gains. West Texas Intermediate was up 0.2% at $48.44 a barrel and Brent crude was 0.3% higher at $49.84. The mood was supported by comments from Bank of England governor Mark Carney, who on Thursday hinted at the prospect of further interest rate cuts over the summer following the UK's decision to leave the European Union. "The Committee will make an initial assessment on 14 July, and a full assessment complete with a new forecast will follow in the August Inflation Report," Carney said. "In August, we will also discuss further the range of instruments at our disposal." Mike van Dulken, head of research at Accendo Markets, said: "While markets like the idea of more stimulus from any major central bank, they especially like the idea that a weak GBP sterling keeps the USD strong and thus fends off the Fed from a rate rise for a good while longer." Investors in Europe also digested data out of China on Friday that showed the manufacturing sector weakened in June, but the services sector improved. The Caixin manufacturing purchasing managers' index, a private gauge of factory activity, dropped for the third month in a row to 48.6 in June from 49.2 in May, missing expectations for it to remain unchanged. A reading below 50 indicates contraction. China's official manufacturing PMI fell to 50.0 in June from 50.1 the previous month, in line with expectations. Meanwhile, data from the National Bureau of Statistics showed China's official non-manufacturing PMI, which covers services such as retail and real estate, improved to 53.7 from 53.1 in May. Capital Economics said: "The manufacturing PMIs continue to disappoint. But given the recent resilience of the service sector and signs of strength in construction, we still aren't overly concerned about the near-term outlook for China's economy." In corporate news, AstraZeneca was a little lower after saying it has entered into agreements to support its strategic focus on three main therapy areas - respiratory, inflammation and autoimmunity; cardiovascular and metabolic disease; and oncology. BHP Billiton pushed higher despite saying that its plans to settle claims over the 2015 Samarco mine disaster had suffered a major blow after a Brazilian court reinstated a AUD$8bn public civil claim. Still to come, investors will eye eurozone manufacturing PMI at 0900 BST and the Eurozone unemployment rate at 1000 BST. Learn how to become an Angel Investor from leading Angels Business Agent, Bond Dickinson and Angels Den would like to invite you to attend our ‘Become an Angel’ lunchtime masterclass. The Become an Angel masterclass is designed to provide Angels with valuable information in order to allow them to make informed and educated decisions when it comes to investing. It also allows Angel Investors to network with other Angels and thought leaders in the market. This class will cover the basics of investing by highlighting what to look for in businesses and identifying the best practices for making investments. Click Here to Register US Market Report US close: Post-Brexit recovery continues for third session US stocks closed higher on Thursday - the final day of the quarter - as the post-Brexit recovery completed its third straight day. The Dow Jones Industrial Average notched up gains of 1.33% to 17,929.99, with General Electric leading and Visa the only loser. A rise of 1.36% to 2,098.86 was recorded on the S&P 500, while the Nasdaq closed up 1.33% at 4,842.67. Energy managed a leap of 10% for the quarter as the best-performing sector, with the only negative sectors being information technology and consumer discretionary. During the session the Dow managed to reach a point where it had recovered 80% of its post-Brexit losses. It lost more than 870 points in the two sessions following the UK's shock vote to leave the European Union last week. "I think it's a continuation of trying to sort out what Brexit means and what's important to investors," said Bruce McCain, chief investment strategist at Key Private Bank. "Whether they decide it means nothing. We're going to have to wait and see." St Louis Federal Reserve president James Bullard spoke in London during the day, and repeated the new monetary policy framework which now includes a single rate hike for the foreseeable future. On the data front, weekly jobless claims were posted at 268,000 - slightly above the anticipated 267,000. The Chicago PMI reading for June was well above May's 49.3 reading at 56.8. Just two banks failed the Federal Reserve's stress test, it was announced, as the central bank approved the capital plans for 31 others. Deutsche Bank and Banco Santander were the miss the mark. Among the leaders in consumer staples was confectioner Hershey, which was propelled 16.8% by talks of a possible takeover bid from Cadbury owner Mondelez. The board of Hershey unanimously rejected the Mondelez offer late during the session, however. On the Nasdaq, the tech giants dominated both ends for the quarter, with Amazon having the most positive impact and Apple dragging the chain. Film studio Lions Gate made a major acquisition announcement, saying it will buy Starz for $4.4bn cash and stock. S&P 500 - Risers Hershey Foods Corp. (HSY) $117.79 +21.26% Paychex Inc. (PAYX) $59.50 +5.99% Campbell Soup Co. (CPB) $66.53 +5.91% Mondelez International Inc. (MDLZ) $45.48 +5.84% United States Steel Corp. (X) $16.86 +5.57% Kellogg Co. (K) $81.65 +5.26% General Mills Inc. (GIS) $71.32 +5.10% Huntington Bancshares Inc. (HBAN) $8.94 +5.05% Waters Corp. (WAT) $140.65 +4.46% Textron Inc. (TXT) $36.56 +4.37% S&P 500 - Fallers Hanesbrands Inc. (HBI) $25.13 -4.45% Mastercard Inc. (MA) $88.06 -4.42% Tractor Supply Company (TSCO) $91.18 -4.19% Darden Restaurants Inc. (DRI) $63.34 -3.97% Southwestern Energy Co. (SWN) $12.58 -3.45% Visa Inc. (V) $74.17 -3.35% Chesapeake Energy Corp. (CHK) $4.28 -3.17% Endo International Plc (ENDP) $15.59 -2.13% Humana Inc. (HUM) $179.88 -2.05% Range Resources Corp. (RRC) $43.14 -1.93% Dow Jones I.A - Risers General Electric Co. (GE) $31.48 +3.04% Intel Corp. (INTC) $32.80 +2.72% Boeing Co. (BA) $129.87 +2.27% International Business Machines Corp. (IBM) $151.78 +2.24% Caterpillar Inc. (CAT) $75.81 +2.13% Goldman Sachs Group Inc. (GS) $148.58 +2.12% 3M Co. (MMM) $175.12 +2.10% United Technologies Corp. (UTX) $102.55 +2.07% Coca-Cola Co. (KO) $45.33 +2.00% Travelers Company Inc. (TRV) $119.04 +1.91% Dow Jones I.A - Fallers Visa Inc. (V) $74.17 -3.35% Nasdaq 100 - Risers Paychex Inc. (PAYX) $59.50 +5.99% Mondelez International Inc. (MDLZ) $45.48 +5.84% Micron Technology Inc. (MU) $13.76 +4.32% Activision Blizzard Inc. (ATVI) $39.63 +4.23% JD.com, Inc. (JD) $21.23 +4.12% Western Digital Corp. (WDC) $47.26 +3.64% Discovery Communications Inc. Class A (DISCA) $25.23 +3.49% Discovery Communications Inc. Class C (DISCK) $23.85 +3.34% Automatic Data Processing Inc. (ADP) $91.87 +3.07% Kraft Heinz Co. (KHC) $88.48 +2.76% Nasdaq 100 - Fallers Tractor Supply Company (TSCO) $91.18 -4.19% Endo International Plc (ENDP) $15.59 -2.13% Liberty Global plc Series C (LBTYK) $28.65 -1.85% Liberty Global plc Series A (LBTYA) $29.06 -1.76% O'Reilly Automotive Inc. (ORLY) $271.10 -0.94% Biomarin Pharmaceutical Inc. (BMRN) $77.80 -0.73% Citrix Systems Inc. (CTXS) $80.09 -0.67% T-Mobile Us, Inc. (TMUS) $43.27 -0.41% Dollar Tree Inc (DLTR) $94.24 -0.19% Open Trading Account Thinking about trading binary options? Test out a free $10,000 Demo account with iq option. Click Here to start trading Newspaper Round Up Friday newspaper round-up: BoE, BHS, Heathrow The governor of the Bank of England sent bond yields to fresh record lows and the pound sliding after he signalled more quantitative easing and indicated interest rates would be cut to cushion the economy from the impact of Brexit. The prospect of lower interest rates, already at historical lows, and a return of the Bank of England's bond-buying programme to stimulate the economy sparked a sell-off of sterling but lifted shares. In London yesterday the pound dropped 1.5% against the dollar to $1.324, a cent above the 31-year low that it hit in the immediate aftermath of the referendum. - The Times The administrators of BHS have agreed to sell its international and online operations to a Qatari buyer in the first disposal of the failed retailer's assets. Al Mana, a group based in Doha that operates some of BHS's overseas stores under a franchise deal, has bought more than 70 shops and the website. - The Times The Government has come under fierce attack from leading business figures after it delayed a decision on airport expansion amid the Brexit turmoil, dealing a blow to Heathrow's chances of building its long sought-after £17.6bn third runway. Adam Marshall, the acting director general of the British Chambers of Commerce, accused ministers of "a cop out" after Patrick McLoughlin, the transport secretary, said it would be "at least October" before an announcement is made about where to build more runway capacity in the south east. - The Daily Telegraph Europe's banking sector is braced for chaos, with Italian giants desperate for a bailout and Germany's biggest lender deemed a threat to the world economy. In Italy, politicians begged the European Union for permission to bail out troubled lenders sitting on more than £300bn of bad loans. Meanwhile, Portugal - long feared to be a future flashpoint in the eurozone crisis - has been urged to double down on austerity measures in the uncertain times ahead. - The Daily Mail A split has emerged at the top of the Labour party in Scotland after deputy leader Alex Rowley pledged his support for Jeremy Corbyn as UK leader. It came just days after Scottish leader Kezia Dugdale joined the chorus of calls for the left-winger to go, insisting she could not lead the party in Scotland without the support of her MSPs. - The Scotsman   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 advertise@advfn.com     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