Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 07 June 2017 17:19:31 Monitor Quote Charts News CFD's Compare Brokers Free BB   Live Trading Webinars ADVFN now provides the latest financial trading webinars for FREE. Offering everything from introductory courses through to advanced analysis and market signals.  Click Here To Find Out More London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE retreats ahead of 'blockbuster Thursday' as oil, utility stocks ebb Stocks in London retreated to a lower close as falling oil, utility and pharmaceutical companies decided the outcome ahead of 'blockbuster Thursday' and the UK general election. On the following day, the market would be glued to the much-discussed UK election and its uncertain outcome, as well as the European Central Bank's policy meeting and, separately, testimony from ex-FBI boss James Comey to a Senate panel. Against this fabric, the FTSE 100 closed down 0.62% to 7,478.62, and the FTSE 250 edged higher by 0.21% to 19,695.92. Other key indices in Europe closed mildly firmer, while Wall St made minor gains. "The FTSE 100 is offside as dealer's cash in their chips ahead of the UK general election tomorrow," said David Madden, market analyst at CMC Markets UK. "Volatility is anticipated to be low until traders have a better idea of what the election outcome will be," said Madden. "The Cac and the Dax received a boost after a leak informed the market that the ECB are planning on reducing the inflation forecast for the Eurozone," he added. Returning to the UK and tomorrow's ballot, James Trescothick, senior global strategist at easyMarkets, pondered several different outcomes. A victory by the Tories and PM Theresa May with a majority of less than 20 seats would see a strong sell-off in sterling, whereas a win with a 50-plus seat majority could see a far more positive reaction from sterling. "If Labour did indeed win you might see the sterling come under a lot of pressure falling as low as $1.20 against the US dollar, due to the fact that (Labour leader Jeremy) Corbyn is not seen as a strong opposition for the EU," said Trescothick. He said a hung parliament could produce total chaos in the market. "Sterling is likely to crash on this outcome," said Trescothick. "With this result securing any deal with the EU will prove to be very difficult as any set direction for negotiations will be lost amongst all the bickering that will very likely occur between all the parties in the commons." On the stocks front in London, oil majors BP and Shell suffered as the latest figures from the US Energy Information Administration revealed a bigger than expected build in stores last week, contrary to American Petroleum Institute figures last night that showed a draw. Other blue-chip sectors that were prominently lower included pharmaceuticals and utilities, with retail and supermarkets also featuring on the FTSE 100 fallers' board. House builders did relatively well on news this morning from Halifax that the UK housing market had fared better than expected in May, although the annual rate of price gains was cooling. Meanwhile, RBS gained after Investec changed its rating from 'Sell' to 'Hold', and it upped its price target from 240p to 260p. RBS reached a £200m settlement with shareholders in relation to the rights issue the bank held during the credit crisis. WPP shares were down after its trading update was received poorly. Anglo American was firmer after it announced the appointment of Stuart Chambers as its chairman. AstraZeneca was in the red as it entered an agreement with Grünenthal for the global rights to Zomig (zolmitriptan) outside Japan. 3 FREE issues of Moneywise online magazine Register for a free trial with us and get a Practice Account, exclusive tips, guides, award-winning service and three issues of Moneywise online magazine. Learn more Market Analysis 07/06/2017 Today’s highlights: Mixed trend seen in global markets Wall Street closes lower: Ahead of an eventful day tomorrow, which includes the UK election and former FBI Director James Comey testifying before congress, US markets closed lower, with the Dow Jones, S&P 500 and Nasdaq all closing in the red. Asian markets mixed: Leading indices in the east were showing a mixed trend this morning. The Nikkei and China50 were both showing gains, with the latter climbing nearly 1%. Gold hits seven-month high: The safe-haven hit its highest levels for 2017 so-far, reaching a price that has not been seen since last November. New records for cryptocurrencies: Bitcoin passed $2,900 for the first time ever yesterday, while Ethereum logged another all-time high at just under $270. Read More... Market Movers FTSE 100 (UKX) 7,478.62 -0.62% FTSE 250 (MCX) 19,695.92 0.21% techMARK (TASX) 3,610.06 -0.68% FTSE 100 - Risers Persimmon (PSN) 2,393.00p 2.05% Lloyds Banking Group (LLOY) 70.08p 1.65% Standard Life (SL.) 381.00p 1.57% Taylor Wimpey (TW.) 181.80p 1.56% Hargreaves Lansdown (HL.) 1,395.00p 1.38% Royal Bank of Scotland Group (RBS) 255.10p 1.35% 3i Group (III) 944.50p 1.29% Direct Line Insurance Group (DLG) 347.30p 1.25% Hammerson (HMSO) 587.00p 1.21% Legal & General Group (LGEN) 254.00p 1.20% FTSE 100 - Fallers Shire Plc (SHP) 4,376.50p -3.22% WPP (WPP) 1,676.00p -2.61% Babcock International Group (BAB) 906.00p -2.00% Johnson Matthey (JMAT) 2,979.00p -1.97% Tesco (TSCO) 178.40p -1.79% BP (BP.) 456.80p -1.74% Associated British Foods (ABF) 2,970.00p -1.66% Reckitt Benckiser Group (RB.) 7,976.00p -1.63% Sage Group (SGE) 696.50p -1.62% Convatec Group (CTEC) 325.30p -1.54% FTSE 250 - Risers St. Modwen Properties (SMP) 352.90p 6.23% Ferrexpo (FXPO) 175.10p 4.66% Derwent London (DLN) 2,685.00p 4.07% Workspace Group (WKP) 874.50p 4.05% Nostrum Oil & Gas (NOG) 526.00p 3.34% CYBG (CYBG) 270.50p 3.28% Hastings Group Holdings (HSTG) 322.60p 3.13% Domino's Pizza Group (DOM) 316.30p 2.96% NMC Health (NMC) 2,329.00p 2.96% Countryside Properties (CSP) 326.90p 2.61% FTSE 250 - Fallers Ocado Group (OCDO) 284.00p -7.91% RPC Group (RPC) 788.50p -7.24% Entertainment One Limited (ETO) 226.10p -3.95% Indivior (INDV) 323.20p -3.20% Tate & Lyle (TATE) 734.50p -2.59% Intermediate Capital Group (ICP) 847.00p -2.42% Go-Ahead Group (GOG) 1,749.00p -2.35% Capita (CPI) 540.50p -2.26% Allied Minds (ALM) 135.40p -1.88% 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… US Market Report US open: Wall Street bounces back ahead of Comey testimony Wall Street was staging a mild bounce back on Wednesday ahead of a raft of key risk events the next day, including former FBI boss James Comey's testimony before a Senate panel, the UK general election and a meeting of the European Central Bank's Governing Council. At 1515 BST the Dow Jones Industrial Average was higher by 0.20% or 42.41 points to 21,175.48, alongside gains of 0.29% for the Nasdaq Composite to 6,293.07 and rise of 0.17% in the S&P 500 to 2,433.51. Meanwhile, crude oil futures were slipping ahead of US supply data from the Energy Information Administration due out at 1530 BST. West Texas Intermediate was down by 1.03% to $47.70 a barrel ahead of those figures. Comey was due to testify on Thursday about Russia's involvement in the US presidential election. FXTM chief market strategist Hussein Sayed said: "Comey's testimony is crucial tomorrow. While it's known that many questions will remain unanswered, the biggest question remains to be whether the former FBI director will accuse the President of abusing his power to derail the FBI's investigation and whether there's any indication of potential links between Russia and the Trump election campaign. "Should the testimony reveal any unexpected surprises, the same will be reflected in the financial markets." Investigations into the Trump election campaign's alleged dealing with Russian officials had seen the White House's drive for tax reforms stall. That had led JP Morgan chief Jamie Dimon the day before to caution that much still hinged on such reforms. Indeed, expected delays in the implementation of stimulus measures by the Trump administration led the OECD to cut its forecasts for US GDP growth in 2017 and 2018 from 2.4% and 2.8%, respectively, to 2.1% and 2.4%. On the corporate front, US-listed shares of Banco Santander could be active after it bought struggling Banco Popular Espanol for €1. Jack Daniels parent Brown-Forman Corp. posted fiscal fourth quarter profits per share of 37 cents, which was down from $1.30 in the year-ago period (consensus: 40 cents). Dow Jones - Risers Nike Inc. (NKE) $53.06 1.11% Intel Corp. (INTC) $36.51 1.05% Apple Inc. (AAPL) $155.74 0.84% Goldman Sachs Group Inc. (GS) $216.29 0.82% International Business Machines Corp. (IBM) $153.62 0.82% American Express Co. (AXP) $79.31 0.58% JP Morgan Chase & Co. (JPM) $83.43 0.57% Walt Disney Co. (DIS) $106.00 0.47% Wal-Mart Stores Inc. (WMT) $79.23 0.38% Visa Inc. (V) $96.10 0.32% Dow Jones - Fallers Coca-Cola Co. (KO) $45.51 -1.02% General Electric Co. (GE) $27.77 -0.57% Travelers Company Inc. (TRV) $123.50 -0.43% Merck & Co. Inc. (MRK) $64.40 -0.41% Microsoft Corp. (MSFT) $72.33 -0.26% Procter & Gamble Co. (PG) $88.64 -0.19% Unitedhealth Group Inc. (UNH) $180.50 -0.18% Caterpillar Inc. (CAT) $104.48 -0.07% United Technologies Corp. (UTX) $120.08 -0.03% E.I. du Pont de Nemours and Co. (DD) $81.06 0.00% S&P 500 - Risers Signet Jewelers Ltd (SIG) $56.22 4.21% Tenet Healthcare Corp. (THC) $17.68 3.94% GGP Inc (GGP) $23.25 2.81% Westrock Company (WRK) $55.59 2.72% United States Steel Corp. (X) $20.84 2.71% Micron Technology Inc. (MU) $32.37 2.53% Kimco Realty Corp. (KIM) $18.35 2.51% Under Armour Inc. Class A (UAA) $20.72 2.47% Vulcan Materials Co. (VMC) $127.95 2.23% Synchrony Financial (SYF) $28.84 1.96% S&P 500 - Fallers Iron Mountain Inc (New) (IRM) $33.33 -4.77% United Continental Holdings Inc. (UAL) $79.87 -1.69% Southwest Airlines Co. (LUV) $59.14 -1.60% NRG Energy Inc. (NRG) $16.52 -1.55% Brown Forman Corp. Class B (BF.B) $51.53 -1.51% Juniper Networks Inc. (JNPR) $29.61 -1.50% Interpublic Group of Companies Inc. (IPG) $23.88 -1.49% Mattel Inc. (MAT) $22.50 -1.34% Dollar General Corp (DG) $74.34 -1.33% Anadarko Petroleum Corp. (APC) $49.49 -1.22% Nasdaq 100 - Risers Micron Technology Inc. (MU) $32.37 2.53% NetEase Inc. Ads (NTES) $307.77 1.61% Fastenal Co. (FAST) $42.77 1.59% Seagate Technology Plc (STX) $42.56 1.59% Tesla Inc (TSLA) $358.13 1.50% Western Digital Corp. (WDC) $91.20 1.40% Hologic Inc. (HOLX) $45.02 1.35% Nvidia Corp. (NVDA) $149.26 1.30% Microchip Technology Inc. (MCHP) $86.20 1.19% Baidu Inc. (BIDU) $187.90 1.16% Nasdaq 100 - Fallers Vodafone Group Plc ADS (VOD) $29.20 -3.09% Shire Plc Ads (SHPG) $170.69 -1.96% Liberty Global plc Series A (LBTYA) $29.65 -1.82% Liberty Global plc Series C (LBTYK) $28.69 -1.68% Mattel Inc. (MAT) $22.50 -1.34% Alexion Pharmaceuticals Inc. (ALXN) $100.51 -0.95% Dollar Tree Inc (DLTR) $76.18 -0.92% Vertex Pharmaceuticals Inc. (VRTX) $126.57 -0.90% Tractor Supply Company (TSCO) $54.53 -0.89% CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. Click Here Broker Tips Broker tips: Qinetiq, Rotork, Tate & Lyle Analysts at Berenberg lifted their target on shares of Qinetiq due to the continued "significant" optionality afforded to the company by its comfortable cash position. In fiscal year 2018, the defence electronics and components supplier's net cash would reach £197.0m and be unrivalled within its sector, they said, making it deserving of a premium. Despite the "somewhat uninspiring" near-term fundamentals, Berenberg said investors could be confident of Qinetiq's ability to continue investing both organically, through contract capex, and via internal research and development. The company also had the firepower necessary to acquire earnings before the 2019 margin "pinch point" when the full effect of contract renewal timing would be evident, Berenberg said. With Rotork shares the worst performing stock in the European capital goods sector over the last quarter due to oil price declines and cost inflation concerns, Goldman Sachs sees a buying opportunity as the risk-reward ratio shifts into more attractive territory. "Growth could surprise in upstream and midstream, led by momentum in the US, Middle East and China," said Goldman, with its 12-month price target of 280p offering around 20% upside, leading to the reiteration of its 'buy' recommendation. Furthermore, pricing has stabilised and while downstream capital expenditure remains challenging there are green shoots appearing in maintenance, repair and overhaul. Excluding oil and gas, US water investment is an "obvious catalyst", although there are "few positive signs" in the power market. Tate & Lyle is facing a likely softer sugar pricing climate in 2018 and combined with anticipated slow progress towards ramping up its speciality ingredients profits, Jefferies downgraded its recommendation on the shares to 'hold' from 'buy'. Jefferies, which trimmed its target to 800p from 870p, said there remains "plenty of upside if Tate if it can convince" around its Speciality Food Ingredients arm, from where management are aiming to generate of 70% of profits in three years' time.   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 Thursday, 01 June 2017 17:26:23 Monitor Quote Charts News CFD's Compare Brokers Free BB   Want to learn more about the UK buy-to-let market? The UK property market is booming and there has never been a better time to invest in buy-to-let. Where are the best places to invest? What is the best type of investment property? What sort of returns are on offer? Download our free Buy-to-Let Guide today to get started! London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE clings to range-bound gains in positive start to June Stocks in London clung to their gains after a largely range-bound session that benefited from better-than-expected manufacturing data and amid continuing UK election jitters. The FTSE 100 pushed up 0.32% to 7,543.77, while the FTSE 250 edged up 0.19% to 20,010.62. This was a theme seen also in Europe, and on Wall St. Late this afternoon sterling was showing minor gains on the dollar, having spent most of the day lower. Joshua Mahony, market analyst at IG, said the FTSE had laboured its way forward on Thursday. "European markets are gradually gaining ground, with volatility remaining relatively anchored given the significant uncertainty that lies ahead," he said. Jasper Lawler, senior market analyst at London Capital Group, said the FTSE 100 had started the June in the same kind of positive form that made May the strongest month this year thus far. "It's a one-week countdown to the general election and sentiment in the market seems pretty healthy," he said. The latest YouGov poll for The Times published overnight showed the Tory lead over Labour has narrowed to just three points. This came hot on the heels of a projection by the pollster that suggested the Conservatives could lose as many as 20 seats, while Labour could gain 28, leading to a hung Parliament. Michael Hewson, chief market analyst at CMC Markets UK, was another who noted the continuation of the recent theme of an improving economic environment. "Positive manufacturing reports from across Europe and the UK has seen a buoyant tone throughout the day," he said. The UK manufacturing purchasing managers' index from IHS Markit/CIPS slipped to 56.7 in May, from the three-year high of 57.3 in April. This was above consensus for 56.5. Investors were also mulling over the latest survey from Nationwide, which showed UK house prices fell for the third month in a row in May, the first time this has happened since 2009. On the corporate front, several miners were rising, as were many insurers and commercial property firms. Oil majors and pharmaceuticals were among other blue-chip sectors doing well. Unsurprisingly house builders suffered with the latest Nationwide survey, with several utility companies and supermarkets heading lower, too. Rolls-Royce rose after saying it has won an order to supply low-emissions gas engines for Norwegian ferry operator, Torghatten Nord. 3i was boosted as Barclays upped its target on the stock to 980p from 750p. Micro Focus International was a top blue chip riser after reporting a healthy set of results. Barclays increased the size of the sale of its stake in Barclays Africa Group due to "strong investor demand". Lloyds Banking Group fell as it completed its acquisition of MBNA credit cards as expected. Mediclinic slid back after being downgraded by Credit Suisse, while ITV has also come under pressure after being cut to "hold" by HSBC. Taylor Wimpey is also sharply lower after going ex-dividend, and was also hurt on the Nationwide data. How to capitalise on the impact of Crossrail This comprehensive report looks at the investment opportunity Europe’s largest construction project has to offer, the economic, real estate, and housing benefits of Crossrail, and how you could capitalise. Capital at risk. Download your copy of How to capitalise on Crossrail here. Your capital and interest are at risk. Market Movers FTSE 100 (UKX) 7,543.77 0.32% FTSE 250 (MCX) 20,010.62 0.19% techMARK (TASX) 3,654.03 0.80% FTSE 100 - Risers Paddy Power Betfair (PPB) 8,420.00p 4.34% 3i Group (III) 927.00p 3.58% Convatec Group (CTEC) 330.80p 3.37% Micro Focus International (MCRO) 2,460.00p 2.76% Rolls-Royce Holdings (RR.) 885.50p 2.07% Antofagasta (ANTO) 817.50p 2.06% Informa (INF) 684.50p 2.01% Intu Properties (INTU) 277.20p 1.91% Ashtead Group (AHT) 1,595.00p 1.85% AstraZeneca (AZN) 5,328.00p 1.80% FTSE 100 - Fallers Taylor Wimpey (TW.) 190.00p -6.45% National Grid (NG.) 1,050.00p -3.63% Mediclinic International (MDC) 781.00p -3.40% ITV (ITV) 191.60p -2.10% Persimmon (PSN) 2,404.00p -2.08% Marks & Spencer Group (MKS) 375.30p -1.88% BT Group (BT.A) 303.85p -1.84% Barratt Developments (BDEV) 602.00p -1.71% easyJet (EZJ) 1,390.00p -1.70% Vodafone Group (VOD) 229.40p -0.91% FTSE 250 - Risers Inmarsat (ISAT) 844.50p 5.56% Auto Trader Group (AUTO) 435.00p 4.54% IWG (IWG) 343.90p 3.49% Britvic (BVIC) 720.50p 2.93% Ferrexpo (FXPO) 176.40p 2.74% Ladbrokes Coral Group (LCL) 122.40p 2.68% Sophos Group (SOPH) 464.50p 2.67% Hochschild Mining (HOC) 293.40p 2.44% Aveva Group (AVV) 1,982.00p 2.38% Hill & Smith Holdings (HILS) 1,473.00p 2.36% FTSE 250 - Fallers FirstGroup (FGP) 142.30p -5.01% Aldermore Group (ALD) 233.90p -3.98% Daejan Holdings (DJAN) 6,565.00p -3.24% Clarkson (CKN) 2,600.00p -2.99% Entertainment One Limited (ETO) 237.50p -2.82% Nostrum Oil & Gas (NOG) 517.50p -2.63% Crest Nicholson Holdings (CRST) 615.00p -2.61% Dechra Pharmaceuticals (DPH) 1,901.00p -2.21% CYBG (CYBG) 261.90p -1.95% 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… US Market Report US open: Commodity stocks, banks drive losses Falling prices for metals and a sharp drop in crude oil futures weighed on the main Wall Street averages as investors waited on the release of the US central bank's Beige Book later in the session. At 1628 BST the Dow Jones Industrial Average was down by 0.18% to 20,993.89, with the S&P 500 off by 0.23% at 2,407.45 and the Nasdaq Composite losing 0.27% to 6,186.05. The worst performing segments of the market were: Aluminium (-3.48%), Coal (-3.19%), Industrial Metals (-2.47%) and Oil Equipment and Services (-2.14%). Driving those losses, overnight Chinese investors pushed iron ore, steel rebar and coking coal futures for September on the Dalian Commodity Exchange metals prices sharply lower. West Texas Intermediate crude futures were falling in tandem, on news that Libya's oil production was continuing to recover, rising to 827,000 barrels per day and above a three-year peak of 800,000. Banks were also lower after JP Morgan Chase finance chief Marianne Lake reportedly told investors that trading had declined by roughly 15% in the second quarter. Investors appeared to brush off Lake's assertion that it was a normal seasonal variation, sending the KBW index of lenders' shares 1.82% lower to 88.40 points. Stock in Michael Kors suffered a sharp drop - the steepest on the NYSE - after the company reported a high single-digit drop in fiscal fourth quarter like-for-likes. Still on the economic calendar for later in the day, San Francisco Fed President John Williams was scheduled to deliver a speech in Seoul, South Korea later on Wednesday after the close of markets. The Federal Reserve's Beige Book, a compendium of anecdotal evidence from around the country compiled ahead of each monetary policy meeting, was scheduled for release at 19:00 BST. Dow Jones - Risers Pfizer Inc. (PFE) $32.70 1.77% Johnson & Johnson (JNJ) $128.52 1.11% Wal-Mart Stores Inc. (WMT) $78.65 0.64% Procter & Gamble Co. (PG) $87.94 0.62% Merck & Co. Inc. (MRK) $65.28 0.61% 3M Co. (MMM) $203.65 0.60% Travelers Company Inc. (TRV) $124.38 0.52% International Business Machines Corp. (IBM) $152.51 0.51% Boeing Co. (BA) $187.81 0.50% Verizon Communications Inc. (VZ) $46.41 0.45% Dow Jones - Fallers Goldman Sachs Group Inc. (GS) $211.63 -3.11% JP Morgan Chase & Co. (JPM) $82.36 -1.84% Chevron Corp. (CVX) $103.31 -0.72% American Express Co. (AXP) $76.59 -0.65% Exxon Mobil Corp. (XOM) $80.63 -0.58% Microsoft Corp. (MSFT) $70.05 -0.51% Unitedhealth Group Inc. (UNH) $175.69 -0.51% Walt Disney Co. (DIS) $107.86 -0.44% Apple Inc. (AAPL) $153.09 -0.38% Caterpillar Inc. (CAT) $105.11 -0.34% S&P 500 - Risers Perrigo Company plc (PRGO) $71.47 5.23% Analog Devices Inc. (ADI) $87.98 3.75% Vertex Pharmaceuticals Inc. (VRTX) $123.02 2.18% Pfizer Inc. (PFE) $32.70 1.77% Eli Lilly and Company (LLY) $79.72 1.75% Endo International Plc (ENDP) $13.13 1.39% Advance Auto Parts (AAP) $134.53 1.16% Abbott Laboratories (ABT) $45.51 1.14% Johnson & Johnson (JNJ) $128.52 1.11% Dentsply International Inc. (XRAY) $63.30 1.09% S&P 500 - Fallers Diamond Offshore Drilling Inc. (DO) $10.90 -5.75% Southwestern Energy Co. (SWN) $6.04 -4.88% Transocean Ltd. (RIG) $8.81 -4.86% CF Industries Holdings Inc. (CF) $26.77 -4.07% Tenet Healthcare Corp. (THC) $16.74 -4.01% Freeport-McMoRan Inc (FCX) $11.24 -3.68% Alcoa Corporation (AA) $31.88 -3.36% Navient Corporation (NAVI) $14.20 -3.27% Chesapeake Energy Corp. (CHK) $4.93 -3.24% Under Armour Inc. Class A (UAA) $18.93 -3.22% Nasdaq 100 - Risers Analog Devices Inc. (ADI) $87.98 3.75% Vertex Pharmaceuticals Inc. (VRTX) $123.02 2.18% Tesla Inc (TSLA) $341.27 1.84% Vodafone Group Plc ADS (VOD) $30.27 1.37% Charter Communications Inc. (CHTR) $342.75 1.13% Dentsply International Inc. (XRAY) $63.30 1.09% Regeneron Pharmaceuticals Inc. (REGN) $453.40 1.05% Illumina Inc. (ILMN) $175.39 1.04% Texas Instruments Inc (TXN) $82.79 0.99% Microchip Technology Inc. (MCHP) $83.25 0.90% Nasdaq 100 - Fallers O'Reilly Automotive Inc. (ORLY) $241.92 -2.31% Viacom Inc. Class B (VIAB) $34.27 -2.23% JD.com, Inc. (JD) $40.02 -1.89% Baidu Inc. (BIDU) $186.78 -1.64% NetEase Inc. Ads (NTES) $283.77 -1.63% Dollar Tree Inc (DLTR) $77.09 -1.39% eBay Inc. (EBAY) $34.19 -1.26% Symantec Corp. (SYMC) $29.69 -1.23% Alphabet Inc. Class C (GOOG) $965.70 -1.04% 3 FREE issues of Moneywise online magazine Register for a free trial with us and get a Practice Account, exclusive tips, guides, award-winning service and three issues of Moneywise online magazine. Learn more Broker Tips Broker tips: Barclays, Spirax Sarco, Auto Trader Investec's Ian Gordon hailed Barclays's decision to dispose of the majority of its stake in its African unit, reiterating that it was the broker's preferred large-cap UK lender. The analyst also urged the lender's directors to use its robust capital position to call its costly $2.65bn of preference shares, which carried an 8.125% coupon. Tuesday night's divestment also underpinned his expectation for a "material step-up" in the 2018 dividend. "We regard Barclays' capital position as robust, and as such, it is now time to deploy that capital strength to boost earnings. Calling the prefs would "cost" c.25bps of CET1 capital, but save a £0.2bn p.a. coupon cost," the analyst said. Overnight, Barclays said it would sell a 33.7% slice of Barclays Africa - more than had originally been expected - reducing its holding in the lender to 14.9%. Analysts at Deutsche Bank reiterated their 'buy' recommendation on shares of Spirax Sarco on the back of the engineer's shift away from special dividends and towards non-organic growth. The broker highlighted how over the past six months the firm had spent £540m scooping up Chromalox, Gestra AG and Aflex House. That was roughly five times the amount spent over the preceeding 10 years and followed its 2014 strategic review, in which management set out leveraging strengths in key sectors, expanding the addressable market and capitalizing on the most attractive opportunities as its main objectives. "We view reinvestment in M&A as a welcome move away from a recent track record of special dividends, with £190m distributed 2010-14. Auto Trader got a boost on Thursday as Barclays bumped the stock up to 'overweight' from 'equalweight' and lifted the price target to 470p from 425p ahead of the full-year results on 8 June. The bank said there are risks in the outlook for used car pricing, but it does not expect wide forecourt closures. Even if that were to happen, what matters most for Auto Trader are levels of used car stock, Barclays pointed out. "Here a decent outlook for used car transaction volumes should be a tailwind. We have also dug into new products: part exchange, financing and new cars. We think the latter two, in particular, will become meaningful contributors." Market Analysis 01/06/2017 Today’s highlights: Another record for Ethereum Seven-month winning streak for Nasdaq: Despite closing nearly flat yesterday, all three major indices on Wall Street finished May higher. For the Nasdaq, this caps a seven-month winning streak – the longest since 2013. New all-time high for Ethereum: The cryptocurrency rose above $230 for the first time yesterday, before showing a slight correction. Nikkei rises more than 1%: Despite many markets in Asia seen lower this morning, Japan’s Nikkei showed gains of more than 1%. The China50 index was also trading higher this morning. Oil rises ahead of Inventories Report: After showing losses in the last two sessions, oil prices recovered this morning, after an early report suggested that the Crude Oil Inventories Report, to be released today at 15:00 GMT, will show a decline in US stockpiles. Read More... CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. 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. 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Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 01 June 2017 10:08:19 Monitor Quote Charts News CFD's Compare Brokers Free BB   Want to learn more about the UK buy-to-let market? The UK property market is booming and there has never been a better time to invest in buy-to-let. Where are the best places to invest? What is the best type of investment property? What sort of returns are on offer? Download our free Buy-to-Let Guide today to get started! London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks edge higher as UK politics remain the focus London stocks edged higher in early trade, with the pound still firmly in focus as the latest poll suggested the Tory lead over Labour was continuing to shrink. At 0830 BST, the FTSE 100 was up 0.4% to 7,551.61, while the pound was down 0.1% against the dollar at 1.2863, off the lows hit in the previous session as investors digested Wednesday night's election debate, from which Theresa May was absent. According to a YouGov poll for The Times published on Wednesday, the Tory lead over Labour has narrowed to just three points. The latest poll came hot on the heels of a projection by YouGov that suggested the Conservatives could lose as many as 20 seats, while Labour could gain 28, leading to a hung Parliament. Spreadex analyst Connor Campbell said: "While it looks like the election is going to dominate once again, the UK does have a bit of data to deal with this Thursday: May's manufacturing PMI. Analysts are expecting the figure to fall from 57.3 to 56.5 month-on-month, a move that likely won't help out sterling." Markit's manufacturing PMI is at 0930 BST. Investors were also mulling over the latest survey from Nationwide, which showed UK house prices fell for the third month in a row in May, the first time this has happened since 2009. As month-on-month prices fell 0.2% this dragged annual house price growth down to 2.1% in May from 2.6% in April. The average price of a home slipped to £208,711 in May from £207,699 a month ago. "It is still early days, but this provides further evidence that the housing market is losing momentum," said Robert Gardner, Nationwide's chief economist. "Moreover, this may be indicative of a wider slowdown in the household sector, though data continues to send mixed signals in this regard." On the corporate front, Barclays advanced as it increased the size of the sale of its stake in Barclays Africa Group due to "strong investor demand". The bank agreed to sell 286m or 33.7% of BAGL's issued share capital, raising around £2.2bn, up from a previous plan to sell a stake of around 22%. Business-to-business information company Ascential nudged higher as it sold its remaining 11 UK-based heritage brands to Metropolis International for £23.5m in cash, which will be used to reduce its net debt. Auto Trader pushed higher as Barclays upgraded the stock to 'overweight' from 'equalweight', while 3i was boosted as it upped its target on the stock to 980p from 750p. Going the other way, chemicals group Johnson Matthey was in the red after it posted a 12% jump in full-year revenue, with analysts pointing to disappointment that no special dividend was announced. Passenger transport operator FirstGroup tanked after it reported a rise in revenue and profit for the year to the end of March, but highlighted continued economic uncertainty in the UK. Polymetal was on the back foot as it increased its stake in the Dolinnoye gold property, acquiring another 25% interest for $1.6m, while Marks & Spencer and Shire retreated as their stock went ex-dividend. How to capitalise on the impact of Crossrail This comprehensive report looks at the investment opportunity Europe’s largest construction project has to offer, the economic, real estate, and housing benefits of Crossrail, and how you could capitalise. Capital at risk. Download your copy of How to capitalise on Crossrail here. Your capital and interest are at risk. Market Movers FTSE 100 (UKX) 7,551.61 0.42% FTSE 250 (MCX) 20,035.06 0.31% techMARK (TASX) 3,641.68 0.46% FTSE 100 - Risers Rolls-Royce Holdings (RR.) 885.50p 2.07% 3i Group (III) 913.50p 2.07% Barclays (BARC) 214.10p 1.95% Micro Focus International (MCRO) 2,435.00p 1.71% Ashtead Group (AHT) 1,589.00p 1.47% AstraZeneca (AZN) 5,303.00p 1.32% Coca-Cola HBC AG (CDI) (CCH) 2,281.00p 1.24% DCC (DCC) 7,465.00p 1.22% CRH (CRH) 2,826.00p 1.22% British Land Company (BLND) 641.50p 1.18% FTSE 100 - Fallers Taylor Wimpey (TW.) 195.80p -3.59% Mediclinic International (MDC) 779.50p -3.59% National Grid (NG.) 1,059.00p -2.80% Marks & Spencer Group (MKS) 372.10p -2.72% Johnson Matthey (JMAT) 3,038.00p -2.38% Shire Plc (SHP) 4,404.50p -1.50% Randgold Resources Ltd. (RRS) 7,305.00p -0.81% BT Group (BT.A) 307.25p -0.74% ITV (ITV) 194.40p -0.66% Anglo American (AAL) 1,028.50p -0.29% FTSE 250 - Risers Auto Trader Group (AUTO) 443.80p 6.66% Inmarsat (ISAT) 845.00p 5.63% Tullow Oil (TLW) 187.20p 2.41% Electrocomponents (ECM) 596.00p 1.62% Allied Minds (ALM) 150.80p 1.62% Sophos Group (SOPH) 458.90p 1.44% Hays (HAS) 169.20p 1.38% PayPoint (PAY) 958.00p 1.32% Bellway (BWY) 2,862.00p 1.27% Big Yellow Group (BYG) 798.50p 1.27% FTSE 250 - Fallers FirstGroup (FGP) 140.50p -6.21% Petrofac Ltd. (PFC) 359.80p -5.32% Aldermore Group (ALD) 235.10p -3.49% Acacia Mining (ACA) 282.10p -1.84% Dechra Pharmaceuticals (DPH) 1,912.00p -1.65% Just Group (JUST) 135.00p -1.46% Fisher (James) & Sons (FSJ) 1,698.96p -1.45% Debenhams (DEB) 49.41p -1.38% IP Group (IPO) 137.10p -1.37% 19-20% yield after June 2017 payable quarterly Grenfell Markets is a private equity and venture capital firm providing access to exclusive private placements and structured products. Our current offering pays quarterly Dividends and Capital Growth Upon Exit. Based on today’s market price ($45-50) investors should expect to receive 19-20% yield after June 2017 payable quarterly. Click here to find out more… Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks start higher, investors brush off weakness in bank shares European stocks were higher in early trading despite the drag from a drop in lenders' shares, especially in Spain, as investors looked to US jobs data later in the day. As of 0905 BST the benchmark Stoxx 600 was 0.30% higher to 391.15, alongside gains of 0.34% for Germany's Dax to 12,658.57 and a rise of 0.47% in the Cac-40 to 5,308.14. "Over in the Eurozone there wasn't a lot going on, with the DAX and CAC effectively flat at the start of the session. Like the UK, the region sees a wave of manufacturing data, with the Spanish PMI already beating expectations at 55.4. The Eurozone-wide figure is forecast to come in at 57.0, in the process cementing the best reading in 6 years," said Conor Campbell, financial analyst at Spreadex. Indeed, Markit´s May euro area purchasing managers' index increased from a print of 56.7 for April to 57.0 in May, just as expected. In parallel, ISTAT announced that Italy's economy grew at a 1.2% pace year-on-year during the first quarter, beating forecasts for a rate of expansion of 0.8%. Acting as a backdrop, overnight German central bank chief Jens Wiedmann sounded a hawkish note, telling an audience that the recent strengthening of the euro area's economy made it more likely that recent higher inflation was not just a "flash in the pan". Nevertheless, in the backhalf of the week the market spotlight was shifting from the European Central Bank and the debate around when it would begin to shift its policy towards the US jobs market and the outlook for monetary policy in the States after June. The ADP jobs report in the States was scheduled for release at 1315 BST, followed by the ISM manufacturing sector PMI at 1500 BST. In corporate news, the Stoxx 600 bank's sector index was down by 0.30% as stock in Banco Popular shed another 8% amid media speculation that the troubled lender might not be able to find a buyer. Meanwhile, Spain's Unicaja Banco announced its intention to float 40.4% of its capital. Market Analysis 01/06/2017 Today’s highlights: Another record for Ethereum Seven-month winning streak for Nasdaq: Despite closing nearly flat yesterday, all three major indices on Wall Street finished May higher. For the Nasdaq, this caps a seven-month winning streak – the longest since 2013. New all-time high for Ethereum: The cryptocurrency rose above $230 for the first time yesterday, before showing a slight correction. Nikkei rises more than 1%: Despite many markets in Asia seen lower this morning, Japan’s Nikkei showed gains of more than 1%. The China50 index was also trading higher this morning. Oil rises ahead of Inventories Report: After showing losses in the last two sessions, oil prices recovered this morning, after an early report suggested that the Crude Oil Inventories Report, to be released today at 15:00 GMT, will show a decline in US stockpiles. Read More... UK Event Calendar Thursday June 01 INTERIMS Watkin Jones INTERIM EX-DIVIDEND DATE BlackRock World Mining Trust, Britvic, Cardiff Property, Cerillion , Countryside Properties, Debenhams, DFS Furniture, easyHotel, Grainger, Henderson European Focus Trust, Inland Homes, Jersey Electricity 'A' Shares, Majedie Investments, Northern Venture Trust, On The Beach Group , Patisserie Holdings , Renew Holdings, RM Secured Direct Lending, SSP Group , Titon Holdings, ZPG Plc QUARTERLY PAYMENT DATE JPMorgan Claverhouse Inv Trust QUARTERLY EX-DIVIDEND DATE Albion Technology & General VCT INTERNATIONAL ECONOMIC ANNOUNCEMENTS Construction Spending (US) (15:00) Continuing Claims (US) (13:30) Crude Oil Inventories (US) (16:00) Initial Jobless Claims (US) (13:30) ISM Manufacturing (US) (15:00) FINALS FirstGroup, Immupharma, Johnson Matthey SPECIAL EX-DIVIDEND DATE DFS Furniture, Northern Venture Trust, Taylor Wimpey AGMS Allied Minds , BGEO Group, Camellia, Filta Group Holdings, Georgia Healthcare Group, Hostelworld Group , Jimmy Choo , Osirium Technologies, Plus500 Ltd (DI), Randall & Quilter Investment Holdings (DI), Seplat Petroleum Development Company (DI), Tri-Star Resources FINAL DIVIDEND PAYMENT DATE BAE Systems, Croda International, Robinson, Smart Metering Systems FINAL EX-DIVIDEND DATE Aberdeen New Thai Inv Trust, Dillistone Group, Flowtech Fluidpower, Gamma Communications, Great Portland Estates, Headlam Group, Hilton Food Group, ICG Enterprise Trust, Keywords Studios, Marks & Spencer Group, Mckay Securities, Michelmersh Brick Holdings, Moss Bros Group, National Grid, Pacific Assets Trust, Shawbrook Group, Spire Healthcare Group, Staffline Group, STM Group US Market Report US close: Banks pull markets lower after warnings of tougher times Financial stocks pulled US markets lower at the close on Wednesday with the banking sector taking the biggest hit. The S&P 500 fell 1.11 points to 2,411.80, while the Dow Jones finished 20.82 points lower at 21,008.65 and the Nasdaq was off 4.67 points at 6,198.52. Banks were also lower after JP Morgan Chase finance chief Marianne Lake reportedly told investors that trading had declined by roughly 15% in the second quarter. Goldman Sachs also fell, helping to drag the DJIA into negative territory. On the economic front, the National Association of Realtors' index for pending home sales declined by 1.3% month-on-month in April. That was considerably worse than economists' expectations for an increase of 1.0% and followed downwards revisions to data for the prior month. "Prospective buyers are feeling the double whammy this spring of inventory that's down 9.0% from a year ago and price appreciation that's much faster than any rise they've likely seen in their income," said Lawrence Yun, chief economist at NAR. Manufacturing activity in the Great Lakes area cooled in May, the results of a widely-followed survey revealed, albeit amid indications that firms were expecting conditions to pick-up. The Chicago Business Barometer showed a rise to 59.4 in May after earlier releasing an incorrect reading of a fall to 55.2. Crude-oil futures veered heavily lower as markets already underwhelmed by Opec's recent output-curb extension now quit the asset on fears of surging Libyan production. Exxon Mobil and Chevron were both lower on the news. The precious black liquid has been snared in a chronic supply glut, which saw Opec introduce production pledges last year, which it last week extended out to March 2018. Nymex-priced West Texas Intermediate crude was down 2% to $48.63 a barrel, while Intercontinental Exchange-traded Brent fell 2.95% to $50.31 a barrel. "Another slide in crude oil prices, to three week lows, has once again shifted the focus back to the ability of Opec to meaningfully influence the mechanics surrounding reducing inventory levels," said Michael Hewson, chief market analyst at CMC Markets UK. Dow Jones - Risers Pfizer Inc. (PFE) $32.65 1.62% E.I. du Pont de Nemours and Co. (DD) $78.91 1.60% 3M Co. (MMM) $204.30 1.00% Verizon Communications Inc. (VZ) $46.64 0.95% Travelers Company Inc. (TRV) $124.82 0.91% Johnson & Johnson (JNJ) $128.25 0.90% Procter & Gamble Co. (PG) $88.09 0.79% McDonald's Corp. (MCD) $151.01 0.64% International Business Machines Corp. (IBM) $152.57 0.59% Wal-Mart Stores Inc. (WMT) $78.60 0.58% Dow Jones - Fallers Goldman Sachs Group Inc. (GS) $211.26 -3.28% JP Morgan Chase & Co. (JPM) $82.19 -2.09% Microsoft Corp. (MSFT) $69.84 -0.81% Unitedhealth Group Inc. (UNH) $175.18 -0.80% Exxon Mobil Corp. (XOM) $80.50 -0.74% Apple Inc. (AAPL) $152.76 -0.59% Chevron Corp. (CVX) $103.49 -0.56% Cisco Systems Inc. (CSCO) $31.53 -0.47% Walt Disney Co. (DIS) $107.92 -0.37% Home Depot Inc. (HD) $153.51 -0.24% S&P 500 - Risers Perrigo Company plc (PRGO) $72.80 7.26% Vertex Pharmaceuticals Inc. (VRTX) $123.60 2.67% Regeneron Pharmaceuticals Inc. (REGN) $459.06 2.32% Paypal Holdings Inc (PYPL) $52.21 2.25% Illumina Inc. (ILMN) $177.29 2.14% Endo International Plc (ENDP) $13.18 1.78% Dow Chemical Co. (DOW) $61.96 1.76% Rockwell Collins Inc. (COL) $109.05 1.70% Wynn Resorts Ltd. (WYNN) $128.70 1.67% Darden Restaurants Inc. (DRI) $88.93 1.65% S&P 500 - Fallers Tenet Healthcare Corp. (THC) $16.54 -5.16% Southwestern Energy Co. (SWN) $6.06 -4.57% CF Industries Holdings Inc. (CF) $26.90 -3.62% Goldman Sachs Group Inc. (GS) $211.26 -3.28% Teradata Corp. (TDC) $27.26 -3.16% First Solar Inc. (FSLR) $38.51 -2.51% O'Reilly Automotive Inc. (ORLY) $242.08 -2.24% Bank of America Corp. (BAC) $22.41 -2.18% JP Morgan Chase & Co. (JPM) $82.19 -2.09% Under Armour Inc. Class A (UAA) $19.16 -2.04% Nasdaq 100 - Risers Vertex Pharmaceuticals Inc. (VRTX) $123.60 2.67% Regeneron Pharmaceuticals Inc. (REGN) $459.06 2.32% Paypal Holdings Inc (PYPL) $52.21 2.25% Liberty Global Plc Lilac Class C (LILAK) $20.96 2.24% Illumina Inc. (ILMN) $177.29 2.14% Charter Communications Inc. (CHTR) $345.55 1.96% Tesla Inc (TSLA) $341.01 1.76% Wynn Resorts Ltd. (WYNN) $128.70 1.67% Xilinx Inc. (XLNX) $66.71 1.51% Dentsply International Inc. (XRAY) $63.52 1.44% Nasdaq 100 - Fallers O'Reilly Automotive Inc. (ORLY) $242.08 -2.24% Baidu Inc. (BIDU) $186.10 -1.99% JD.com, Inc. (JD) $40.03 -1.86% Liberty Global plc Series A (LBTYA) $30.58 -1.35% Western Digital Corp. (WDC) $90.06 -1.35% NetEase Inc. Ads (NTES) $284.78 -1.28% Autodesk Inc. (ADSK) $111.77 -1.23% Alphabet Inc. Class C (GOOG) $964.86 -1.13% Lam Research Corp. (LRCX) $155.17 -1.08% Newspaper Round Up Thursday newspaper round-up: BA, Deliveroo, UK growth, AkzoNobel The IT shutdown that led to chaos for British Airways was caused by an "uncontrolled return of power" following an outage that physically damaged servers at its data centre, the airline has said. About 75,000 passengers were affected as flights were cancelled following the incident on Saturday morning. The carrier was unable to resume a full schedule until Tuesday and many passengers are still without their luggage. - Guardian The UK has slumped to the bottom of the league table of advanced economies after Canada registered stellar growth in the first three months of the year. Canada was the final member of the G7 to report its growth figures, which confirmed the UK as officially the joint worst performing member so far this year. The announcement marked a significant decline for the UK economy, which a year ago was outshining Germany, the US and Japan. In February it was announced that Germany had pipped the UK as the fastest-growing G7 nation during 2016 by 10 basis points. - Guardian The Murdoch brothers have held secret talks with Ofcom in a bid to persuade the regulator to wave through 21st Century Fox's planned £11.7bn takeover of Sky. It is understood that Sharon White, chief executive of Ofcom, has met James and Lachlan Murdoch in London in the last week to discuss the proposed deal. Rupert Murdoch, their father, was not present. Both sides have sought to keep the meeting out of the public eye amid swirling political controversy. - Telegraph Takeaway technology firm Deliveroo is offering its drivers the option to be paid for each order they deliver, rather than per hour - a move which the company hopes will reinforce the riders' status as self-employed contractors, rather than employees. Riders protested last year against a plan to impose a similar contract, and now the company is making it voluntary instead. - Telegraph The Trump administration has given its strongest signal yet that it will restart free-trade talks with the European Union, with the US commerce secretary saying that such a move "makes sense". Wilbur Ross said it was "no mistake" that America had withdrawn from the Trans-Pacific Partnership deal but not the Transatlantic Trade and Investment Partnership talks with the EU. - The Times The American paints and coatings group stalking Azko Nobel, the owner of Dulux paints, must make a formal takeover offer by the end of today or walk away. PPG Industries, which has been rebuffed by Azko Nobel three times, has failed to secure an extension to its June 1 deadline from the Dutch regulator. PPG had asked the regulator for an extension until June 14. - The Times CannaInvestors Hub Magazine - Research for Cannabis Investors Subscribe for Free to the May 2017 issue Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. 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