Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 02 November 2017 17:40:28 Monitor Quote Charts News CFD's Compare Brokers Free BB   Who pockets your portfolio's profits? You or your broker? Make sure you’re not paying too much for your portfolio’s account admin by choosing fixed over percentage-based fees. Capital at risk. Read more London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE higher on rate rise as sterling tumbles The top flight index closed higher on Thursday as the pound skidded versus both the dollar and the euro after the Bank of England hiked interest rates for the first time in a decade, as widely expected. By the close, the FTSE 100 was up 0.90% to 7,555.32, while the pound was down 1.71% against the euro at 1.1205 and 1.41% weaker versus the greenback at 1.3063. Over in Europe, stocks were a little less upbeat with the DAX trading 0.18% lower to 13,440.93, the CAC 40 down 0.07% to 5,510.50 and the IBEX 35 0.43% weaker at 10,457.80. Sterling's losses came as currency traders took profits after the BoE voted 7-2 to lift interest rates to 0.5% from 0.25% - the first hike since July 2007 - in a move that reverses the cut implemented in August 2016 in the aftermath of the Brexit vote. The stock benchmark had been trading a touch higher before the announcement, but share price gains were extended as the pound took a hit. A weaker sterling tends to benefit the FTSE 100 as around 70% of its constituents derive most of their earnings from overseas. "The market is clearly seeing this as a dovish hike and the cautious comments in the accompanying statement have led many to believe that this is a case of one-and-done rather than the start of a sustained hiking cycle," said David Cheetham, chief market analyst at XTB. Forecasts from the BoE suggested inflation would be under control in the medium term if interest rates rose to 1% by late 2019, but the monetary policy committee said any futures increases in the Bank Rate would be "at a gradual pace and to a limited extent". Rain Newton-Smith, CBI chief economist, said: "The decision to raise interest rates comes as no surprise, given the recent signals from the Bank and several monetary policy committee members signalling their intention to vote for a change of course. "While it’s the first rate rise in over a decade, it is only taking the rate back to the level seen in August 2016 and at 0.5% it remains near rock bottom. "Businesses will be watching the reaction of consumers closely and what’s important is the pace of any future rises. As rates creep up, it’ll be important to keep an eye on the impact for those at the lower end of the income scale." All eyes will be on the US again on Thursday evening as US President Trump is due to announce the successor to Janet Yellen as chair of the US central bank, amid expectations he will plump for Fed Governor Jerome Powell. Earlier, some distraction from central bank news had come from data showing the UK construction downturn unexpectedly eased a little last month, though confidence in the outlook waned to almost a five-year low. The Markit/CIPS construction purchasing managers’ index rose to 50.8 in October from 48.1 in September, beating the consensus forecast of 48.5. A pickup in new orders to 50.5 from 48.5 in September indicates that the headline PMI may hold steady over coming months. However, while the marginal upturn in overall construction output was led by house-building, civil engineering activity slumped to a four-year low and commercial construction activity also saw lower volumes. Housebuilding groups, Persimmon and Barratt were among the main fallers on the FTSE 100, with Taylor Wimpey trading flat. In other corporate news, WM Morrison was in the red despite saying reporting a 2.5% increase in third-quarter like-for-like sales. Randgold Resources fell after the gold miner posted a drop in profit and production for the third quarter, but said it was on track to meet its 2017 guidance. RSA Insurance was also on the back foot after it said that it has set aside £50m for US and Caribbean catastrophic events in the third quarter, warning that the number could rise. GlaxoSmithKline edged higher after saying that it has received FDA approval to fast-track a new cancer treatment. Lancashire Holdings was lower as it posted a third-quarter loss due to natural catastrophes, while Ashmore and Dunelm slipped as their stock went ex-dividend. Playtech tumbled after the gambling software development group said that its performance for the full year well be around 5% below the bottom end of market expectations due to a slowdown in Asia and challenges with its Sun Bingo contract. BT reversed earlier gains to trade lower as it failed to impress investors by maintaining its dividend, with sales and profits down in the first half. On the upside, Howden Joinery, Tate & Lyle and Intu Properties were all trading higher after well-received updates.   The student accommodation market is one of the most lucrative investments available, and developments like X1 The Campus which are on the university campus and located within easy reach of Manchester city centre are proving to be incredibly popular. Luxury apartments are available from £89,95 – enquire today! Market Movers FTSE 100 (UKX) 7,555.32 0.90% FTSE 250 (MCX) 20,385.48 0.28% techMARK (TASX) 3,549.38 0.16% FTSE 100 - Risers Mediclinic International (MDC) 600.00p 3.99% Royal Dutch Shell 'A' (RDSA) 2,434.00p 3.16% Smurfit Kappa Group (SKG) 2,378.00p 3.03% Standard Chartered (STAN) 725.80p 2.95% BHP Billiton (BLT) 1,445.50p 2.74% Rio Tinto (RIO) 3,743.50p 2.49% Antofagasta (ANTO) 993.50p 2.42% Royal Dutch Shell 'B' (RDSB) 2,475.00p 2.40% NMC Health (NMC) 2,959.00p 2.21% Shire Plc (SHP) 3,735.00p 1.99% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 6,930.00p -7.23% BT Group (BT.A) 253.60p -2.65% Convatec Group (CTEC) 186.90p -2.55% Rentokil Initial (RTO) 327.00p -2.24% RSA Insurance Group (RSA) 622.50p -1.66% easyJet (EZJ) 1,329.00p -1.48% Fresnillo (FRES) 1,307.00p -1.13% Lloyds Banking Group (LLOY) 67.94p -1.01% Royal Bank of Scotland Group (RBS) 281.80p -0.95% ITV (ITV) 160.50p -0.93% FTSE 250 - Risers Howden Joinery Group (HWDN) 454.10p 10.11% Ladbrokes Coral Group (LCL) 134.10p 5.51% Intu Properties (INTU) 221.20p 3.80% Pets at Home Group (PETS) 183.30p 3.68% Petrofac Ltd. (PFC) 437.60p 3.67% Tullow Oil (TLW) 192.20p 3.28% Kier Group (KIE) 1,087.00p 3.03% Royal Mail (RMG) 380.80p 2.95% CLS Holdings (CLI) 229.10p 2.69% IMI (IMI) 1,271.00p 2.67% FTSE 250 - Fallers Electra Private Equity (ELTA) 968.50p -48.13% Playtech (PTEC) 768.00p -22.15% Acacia Mining (ACA) 174.50p -4.12% CYBG (CYBG) 304.10p -3.70% Softcat (SCT) 525.50p -3.58% Ashmore Group (ASHM) 375.00p -3.38% Centamin (DI) (CEY) 138.40p -3.15% Dunelm Group (DNLM) 697.00p -2.92% FDM Group (Holdings) (FDM) 940.00p -2.84% The Top 10 Stocks for Q4 Our latest quarterly stocks report analyses the top and bottom 10 FTSE 100 performers of 2017 so far and looks at our Top Ten Stock Picks for Q4 including City broker consensus and their average target price for each stock. Losses can exceed deposits Download the report here US Market Report US open: Wall Street set for dip, despite tax reform and Fed news Stocks have started the session lower with investors reacting poorly to the latest quarterly updates out of Facebook and Tesla overnight and ahead of Friday's all-important monthly US jobs report. The muted start to trading on Thursday was also despite leaks of Republicans' tax reform plans and 'market chatter' that the White House was set to name current Federal Reserve governor Jerome Powell in the place of Janet Yellen next March. Against that backdrop, as of 1413 GMT, the Dow Jones Industrial Average was down by 0.24% or 56.93 points at 23,378, alongside a 0.36% or 9.39 point fall in the S&P 500 to 2,570 and a 0.31% or 20.28 point dip in the Nasdaq Composite to 6,696. From a sector standpoint, the weakest segments of the market were: Durable hosuehold products (-7.19%), Furnishings (-3.20%) and Home construction (-3.09%). Traders yawn amid reports Powell to succeed Yellen as Fed chair Where news of Powell's likely nomination was being felt was in the Treasury market, where the yield on the benchmark 10-year US Treasury note was trading lower by three basis points at 2.34%. Banks were lower in tandem with the KBW sector index down 0.66% to 101.02. According to Kathleen Brooks, research director at City Index, Powell was the "continuity choice" although he was seen as "soft" on financial market regulation. Brooks also pointed out that the position of Fed vice chair had yet to be filled as were four other seats in the central bank's top echelons. Hence, there was still room for surprises on that front, she surmised. "The prospect of tax reform has been discounted by the markets over recent months anyways, which is another reason why Powell and his regulatory stance could be the next main driver of US banks in the coming months. "[...] Overall, we expect the Powell nomination to be taken in the market's stride, but as we mention above, it is the other positions (spefically, John Taylor as Fed vicechair) that could really shake things up at the Fed, so we wait and see who is next to be nominated to the board," she said. On the economic front, according to the Journal US House Republicans would propose a permanent reduction in the corporate tax rate from 35% to 20% and a reduction in the number of individual income tax brackets - and a repeal on taxes paid by large estates. Meanwhile, the Department of Labor reported a 3.0% in non-farm labour productivity during the third quarter (consensus:1.9%). The drop in weekly jobless claims also exceeded economists' forecasts, dropping by 5,000 to reach 229,000 (Barclays: 240,000). In corporate news, shares of electric car maker Tesla was down after it posted a bigger-than-expected loss late on Wednesday, while Facebook was also in the red despite better-than-expected quarterly earnings late on Wednesday. Qualcomm on the other hand was higher despite the chip designer reporting a near-90% drop in fourth-quarter profit. Elsewhere, Yum Brands was also in the red in the wake of its third-quarter numbers, the same as DowDuPont after the company announced job cuts as part of a cost-cutting plan although it did post third-quarter profit and sales ahead of analysts' expectations. Apple and Starbucks would report after markets closed. Prime Centrum Specialists in UK Residential Property Investment with High Income 68% Return on Investment with UK Buy-to-Let Property  Invest From £119,950 7% NET income Assured for 3 Years 15% Discount Below Market Comparables Request More Information Broker Tips Broker tips: B&M Retail, Fevertree, StanChart Things are still looking up for B&M Retail's share price, Jefferies argues ahead of the company's interims, pointing to the firm's solid scores on customer satisfaction and the potential for its acquisition of Heron Foods to add to growth. In a survey of 3,000 UK consumers, the broker found that the retailer was still gaining new clients, with its net promoter score rising for both groceries and homeware, which it said was a good omen for future market share gains. The recent purchase of Heron Foods was also promising, it said, opening the door to the prospect of a North-to-South 'B&M style' roll-out strategy which implied scope for more than 1,500 stores. It also offered the potential to leverage the 'know-how' acquired on how to sell frozen foods as US rivals Dollar General and Big Lots had done. So despite the shares having outperformed the wider sector by 50% year-to-date, Jefferies revised its target on the stock to 470p, from 415p, while keeping its recommendation at 'buy'. Analysts at RBC Capital Markets slashed their target on shares of Fevertree ahead of the re-launch of Schweppes's more premium 1783 brand and in light of the recent acceleration in the rate of organic growth in the company's sales in the UK market to over 60% since the backhalf of 2016. They conceded the company's "strong execution" and the "extraordinary" performance of its premium gin category but were wary of reports that Schweppes was set to make the largest ever investment - roughly £6.6m according to Marketing Week - in the above brand. Somewhat ironically too, Fevertree's success meant its growth profile was also more exposed to such a threat, what with sales in Britain expected to account for 45% of the total in fiscal year 2017 for a market share of 30%. Hence, RBC lowered its projections for the company's rate of organic sales growth between 2017 to 2019 in the UK from 60%, 20% and 14% to 50%, 10% and 10%, respectively. Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 GSK GlaxoSmithKline plc 6.09 2 GGP Greatland Gold Plc 3.69 3 BARC Barclays plc 2.32 4 LLOY Lloyds Banking Group plc 2.23 5 VAST Vast Resources plc 1.79 6 SXX Sirius Minerals plc 1.52 7 UKOG UK Oil & Gas Investments plc 1.14 8 BT.A BT Group plc 1.08 9 SMT Scottish Mortgage Investment Trust 1.04 10 ULVR Unilever plc 0.93 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 3.23 2 GGP Greatland Gold Plc 2.37 3 VAST Vast Resources plc 1.43 4 SXX Sirius Minerals plc 1.42 5 UKOG UK Oil & Gas Investments plc 1.06 6 GSK GlaxoSmithKline plc 0.93 7 GLEN Glencore plc 0.87 8 BDEV Barratt Developments plc 0.86 9 BOO Boohoo.com 0.86 10 BP. BP Plc 0.86   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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ADVFN Newsdesk - Futures Pointing To Modestly Higher Open On Wall Street

ADVFN  World Daily Markets Bulletin Daily world financial news Thursday, 02 November 2017 10:25:59    Monitor Quote Charts News Toplists Forex Boards   Stock option alerts by Antivestor. Free Trial. Consistently beat the stock market with 1 trade a day. 68.2% Success rate, Daily stock selection, No payment details needed.  Try for free now.  US Market NYSE AMEX Dow Jones Nasdaq Please click on the images to view our interactive charts The major U.S. index futures are pointing to a modestly higher opening on Thursday following the mixed performance seen in the previous session. The upward momentum on Wall Street comes following the release of a report from the Labor Department showing an unexpected drop in initial jobless claims in the week ended October 28th. A separate report from the Labor Department showed a bigger than expected increase in labor productivity in the third quarter, with output jumping by much more than hours worked. Traders are also digesting the Bank of England's decision to raise interest rates for the first time in over a decade. Later in the day, trading may be impacted by President Donald Trump's expected announcement of his nominee as the next Federal Reserve Chair. Multiple media sources have reported that Trump intends to nominate Fed Governor Jerome Powell to replace current Fed Chair Janet Yellen. House Republicans are also expected to unveil the draft of their tax reform legislation after postponing the release by a day due to disagreements about how to offset the cost of the nearly $6 trillion in tax cuts included in the bill. Stocks turned mixed over the course of the trading session on Wednesday after initially moving to the upside. The major averages reached record intraday highs early in the session before giving back ground. The major averages ended the day on opposite sides of the unchanged line. While the Nasdaq edged down 11.14 points or 0.2 percent to 6,716.53, the Dow rose 57.77 points or 0.3 percent to 23,435.01 and the S&P 500 inched up 4.10 points or 0.2 percent to 2,579.36. The mixed close on Wall Street came following the Federal Reserve's announcement of its latest monetary policy decision. The Fed left interest rates unchanged as widely expected and offered support for the December rate hike that most economists are predicting. The statement from the central bank said data received since the September meeting indicates the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions. The Fed said inflation for items other than food and energy remained soft but continued to predict inflation would stabilize around its 2 percent objective over the medium term. The central bank also reiterated its expectation that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate. "Given the strong economy and jobs market, inflation pressures gradually building and Fed officials broadening out the reasons behind hiking - such as financial conditions, asset valuations and financial stability issues - we are still sticking to our view of a December rate hike," said ING Senior Economist James Knightley. He added, "This is 80% priced in by financial markets with the main risk coming from the potential for an economically damaging government shutdown in the absence of an agreement to raise the debt ceiling." Earlier in the day, payroll processor ADP released a report showing stronger than expected private sector job growth in the month of October. ADP said private sector employment climbed by 235,000 jobs in October after rising by a downwardly revised 110,000 jobs in September. Economists had expected an increase of about 200,000 jobs compared to the addition of 135,000 jobs originally reported for the previous month. The bigger than expected increase came after private sector employment grew at its slowest rate in nearly a year in September. A separate report from the Institute for Supply Management showed a slowdown in the pace of growth in the manufacturing sector in October. The ISM said its purchasing managers index fell to 58.7 in October from 60.8 in September, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to edge down to 59.5. The bigger than expected pullback by the manufacturing index came after it jumped to its highest level in over thirteen years in the previous month. Natural gas stocks turned in a strong performance on the day, with the NYSE Arca Natural Gas Index jumping by 2.2 percent. With the gain, the index ended the session at its best closing level in almost a month. Within the natural gas sector, Devon Energy (DVN) posted a standout gain after reporting third quarter earnings that exceeded analyst estimates. Notable strength was also visible among other energy stocks even though the price of crude oil for December delivery edged lower. Steel stocks also showed a strong move to the upside, driving the NYSE Arca Steel Index up by 1 percent. U.S. Steel (X) led the sector higher after reporting better than expected third quarter results. On the other hand, telecom stocks saw substantial weakness, dragging the NYSE Arca North American Telecom Index down by 2.8 percent. The index ended finished the day at its lowest closing level in well over a year. Frontier Communications (FTR) posted a steep loss after reporting a narrower than expected third quarter loss but weaker than expected revenues. Bitcoin Blueprint See How the Secret “Bitcoin Blueprint” Could Have Generated $1.64 Million in 72 Hours. There are now over 831 different alternative currencies driving this RED-HOT market. Click here to find out how to turn $20 into an absolute fortune with cryptocurrencies. US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report unexpectedly showing a modest drop in first-time claims for U.S. unemployment benefits in the week ended October 28th. The report said initial jobless claims edged down to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. The dip surprised economists, who had expected jobless claims to inch up to 235,000 from the 233,000 originally reported for the previous week. With output jumping by much more than hours worked, the Labor Department released a separate report showing a bigger than expected increase in U.S. labor productivity in the third quarter. The report said labor productivity surged up by 3.0 percent in the third quarter after climbing by 1.5 percent in the second quarter. Economists had expected production to increase by 2.4 percent. The Labor Department also said unit labor costs rose by 0.5 percent in the third quarter after edging up by 0.3 percent in the second quarter. The uptick in costs matched economist estimates. At 12:30 pm ET, New York Fed President William Dudley is scheduled to deliver closing remarks at the Alternate Reference Rates Committee Roundtable event in New York. Atlanta Fed President Raphael Bostic is due to participate in "The Vital Role of Government Statistics" panel at the Association for Public Policy Analysis and Management's 39th Annual Fall Research Conference in Chicago at 6:15 pm ET. Trump's Set to Send this $0.24 Stock Exploding Higher! Trump's Set to Send this $0.24 Stock Exploding Higher! Investors in this tiny company will love Trump for what he’s about to do. This entire situation will change after December 31. Click here for the details. Stocks In Focus Shares of GoPro (GPRO) are moving sharply lower in pre-market trading after the high definition camera maker reported better than expected third quarter results but provided disappointing guidance for the current quarter. Cybersecurity company FireEye (FEYE) is also likely to come under pressure after reporting a narrower than expected third quarter loss but forecasting another loss for the fourth quarter. Shares of Tesla (TSLA) may also move to the downside after the electric car maker reported a wider than expected third quarter loss. On the other hand, shares of Electro Scientific Industries (ESIO) are spiking higher in pre-market trading after the semiconductor testing equipment maker reported a fiscal second quarter profit compared to a year-ago loss. Biopharmaceutical company Neurocrine Biosciences (NBIX) is also likely to see early strength after reporting a much narrower than expected third quarter loss on revenues that exceeded estimates. Shares of SunPower (SPWR) are also moving to the upside in pre-market trading after the solar products and services company reported better than expected third quarter results. Strategic Intelligence What’s the one money move that’s almost predestined to soar under Trump? It’s not a stock, a mutual fund or even real estate. Click here to find out what it is. Europe markets European stocks have turned mixed on the day following the Bank of England's announcement to raise interest rates for the first time in over a decade. While the U.K.'s FTSE 100 Index has advanced by 0.7 percent, the German DAX Index and the French CAC 40 Index are down by 0.1 percent and 0.2 percent, respectively. The BoE voted by a majority of 7 to 2 to increase the bank rate by 0.25 percentage points to 0.5 percent, as was widely anticipated. The rate increase largely reflected concerns about the outlook for inflation, which soared to a five-year high of 3 percent in September. In his subsequent press conference, BoE Governor Mark Carney said two additional rate hikes are needed to in order to get inflation to return to target. On the economic front, the manufacturing Purchasing Managers' Index for the eurozone rose to an 80-month high of 58.5 in October from 58.1 in September, final data from IHS Markit showed. Nonetheless, the reading was slightly below the initial estimate of 58.6. Credit Suisse Group shares have jumped after the Swiss banking giant reported a significantly higher profit in its third quarter with strong wealth management results. Hugo Boss has also soared as the German luxury fashion house raised its 2017 sales guidance after reporting a slight increase in third quarter revenue. Meanwhile, Sanofi shares have fallen after the French drug giant reported a decline in third quarter profits but confirmed its full-year 2017 guidance for business earnings per share to be broadly stable at constant exchange rates. Playtech shares have plummeted in London after the online casino games giant issued a profit warning, citing a slowdown in certain parts of Asia and problems with the Sun Bingo contract. Discover the NUMBER 1 Trading Strategy You Need to Know During Uncertain Market Conditions. Consistent and safe returns up to 40% Download Free Training Material Asia markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts Asian stocks gave up early gains to end mostly lower on Thursday as investors awaited the announcement of the next Fed chief as well as Friday's U.S. jobs report. The dollar pulled back in Asian trading as lingering uncertainty about the U.S. tax bill overshadowed a mildly hawkish Fed statement. Chinese stocks fell slightly on concerns over slowing growth and tighter liquidity before year-end. The benchmark Shanghai Composite Index eased 12.77 points or 0.4 percent to finish at 3,383.14, while Hong Kong's Hang Seng Index fell 75.42 points or 0.3 percent to 28,518.64. Australian shares finished marginally lower, dragged down by financials after National Australia Bank said it expects to take a restructuring charge of A$500 to A$800 million in the first half of 2018. The benchmark S&P/ASX 200 Index dipped 6.10 points or 0.1 percent to 5,931.70, while the broader All Ordinaries Index closed little changed at 6,002.20. NAB fell 2.8 percent after forecasting a rise in costs, and the other three banks ended down between 0.3 percent and 0.8 percent. Higher metal prices helped lift miners, with BHP Billiton, Fortescue Metals Group, Rio Tinto and South32 climbing 2-4 percent. Energy stocks Woodside Petroleum and Oil Search rose more than 1 percent each. Building materials supplier Boral rallied 3.8 percent after lifting the outlook for its Australian business. On the economic front, Australia's foreign trade surplus increased more than expected in September, while the total number of building approvals increased for the second straight month, separate reports showed. Seoul stocks closed lower on profit taking after four days of gains. The benchmark Kospi dropped 10.11 points or 0.4 percent to 2,546.36, dragged down by technology and insurance stocks. SK Hynix and Samsung Life Insurance both ended down over 2 percent. Meanwhile, Japanese shares hit a new 21-year high even as overall gains remained modest ahead of a long holiday weekend. The Nikkei 225 Index climbed 119.04 points or 0.5 percent to 22,539.12, while the broader Topix Index closed 0.4 percent higher at 1,794.08. Honda Motor soared 5.2 percent after the automaker raised its full-year operating profit forecast. Sony rallied 2.8 percent to extend Wednesday's gains after forecasting a record profit. Panasonic lost 3.3 percent on concerns over Tesla's Model 3 production bottlenecks. You'll Need This Book How To Increase Your Social Security Benefits By As Much As $570 Per Month With One Single Word. Click here to learn more Commodity, Currency Markets Crude oil futures are slipping $0.13 to $54.17 a barrel after edging down $0.08 to $54.30 a barrel on Wednesday. An ounce of gold is trading at $1,275.50, down $1.80 compared to the previous session's close of $1,277.30. On Wednesday, gold climbed $6.80. On the currency front, the U.S. dollar is trading at 114.12 yen compared to the 114.18 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1662 compared to yesterday's $1.1619.     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 02 November 2017 09:54:32 Monitor Quote Charts News CFD's Compare Brokers Free BB   Who pockets your portfolio's profits? You or your broker? Make sure you’re not paying too much for your portfolio’s account admin by choosing fixed over percentage-based fees. Capital at risk. Read more London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks flat as investors brace for first rate hike since 2007 London stocks were little changed in early trade on Thursday as investors braced for what could be the first rate hike by the Bank of England in a decade. At 0830 BST, the FTSE 100 was flat at 7,487.23, while the pound was steady against the euro at 1.1399 and up 0.2% versus the dollar at 1.3265. The BoE rate announcement is at 1200 GMT, along with the quarterly inflation report, the minutes from the Monetary Policy Committee meeting and followed by a press conference with Governor Mark Carney 45 minutes later. Accendo Markets analyst Mike van Dulken said that even if the BoE does lift rates, "it won't really be a 25 basis points hike, more a reversal of last year's referendum-inspired cut". "As much as UK inflation is blowing too hot (3% versus 2% target), this is highly unlikely to signal the start of a Fed-like series of increases, normalising policy from crisis enforced extremes. Not with the uncertainty of Brexit hanging over the UK economy. "As always the 1245 GMT presser will be fun, with Governor Carney put through the ringer." Investors will also be digesting the latest policy announcement from the Federal Reserve overnight, as the US central bank stood pat on rates as expected. The Fed kept its interest rate target at between 1% and 1.25%, although its statement remained upbeat about the state of the US economy. All eyes will be on the US again on Thursday as US President Trump is due to announce Fed Chair Janet Yellen's successor, amid reports overnight he has already plumped for Fed Governor Jerome Powell. In corporate news, Wm Morrison was in the red despite reporting a 2.5% increase in third-quarter like-for-like sales, while Randgold Resources fell after the gold miner posted a drop in profit and production for the third quarter, but said it was on track to meet its 2017 guidance. RSA Insurance was also on the back foot after saying it has set aside £50m for US and Caribbean catastrophic events in the third quarter, warning that the number could rise. GlaxoSmithKline edged down despite saying that it has received FDA approval to fast-track a new cancer treatment. On the FTSE 250 Playtech tumbled after the gambling software development group said that its performance for the full year will be around 5% below the bottom end of market expectations due to a slowdown in Asia and challenges with its Sun Bingo contract. Lancashire Holdings was lower as it posted a third-quarter loss due to natural catastrophes, while Ashmore and Dunelm slipped as their stock went ex-dividend. Centamin retreated after posting a drop in third-quarter profit, while Acacia Mining declined as the gold producer said that both its chief executive and its chief financial officer have jumped shit just days after the miner's parent company caved in to the Tanzanian government in the midst of a months-long dispute over gold exports. On the upside, BT was in the black as the telecoms giant defied some doubting Thomases by maintaining its interim dividend despite challenges in some part of the business, including an accounting scandal in Italy. Howden Joinery, Tate & Lyle and Intu Properties were all trading higher after well-received updates The student accommodation market is one of the most lucrative investments available, and developments like X1 The Campus which are on the university campus and located within easy reach of Manchester city centre are proving to be incredibly popular. Luxury apartments are available from £89,95 – enquire today! Market Movers FTSE 100 (UKX) 7,487.23 -0.01% FTSE 250 (MCX) 20,334.22 0.03% techMARK (TASX) 3,539.84 -0.11% FTSE 100 - Risers Mediclinic International (MDC) 590.00p 2.25% Hammerson (HMSO) 529.00p 1.54% Standard Chartered (STAN) 712.10p 1.01% St James's Place (STJ) 1,193.00p 0.93% Coca-Cola HBC AG (CDI) (CCH) 2,560.00p 0.91% British Land Company (BLND) 598.00p 0.84% National Grid (NG.) 905.60p 0.77% Associated British Foods (ABF) 3,287.00p 0.77% Ashtead Group (AHT) 1,940.00p 0.73% British American Tobacco (BATS) 4,925.00p 0.70% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 7,120.00p -4.69% Carnival (CCL) 4,869.00p -1.89% Fresnillo (FRES) 1,298.00p -1.82% RSA Insurance Group (RSA) 622.50p -1.66% Morrison (Wm) Supermarkets (MRW) 221.50p -1.12% easyJet (EZJ) 1,338.00p -0.82% AstraZeneca (AZN) 5,117.00p -0.74% Informa (INF) 689.00p -0.72% GlaxoSmithKline (GSK) 1,342.00p -0.70% Glencore (GLEN) 373.00p -0.68% FTSE 250 - Risers Howden Joinery Group (HWDN) 441.20p 6.98% Intu Properties (INTU) 222.70p 4.50% Ladbrokes Coral Group (LCL) 132.10p 3.93% Tate & Lyle (TATE) 688.50p 3.61% Close Brothers Group (CBG) 1,414.00p 3.06% Sophos Group (SOPH) 637.00p 2.49% Inmarsat (ISAT) 630.00p 2.36% Travis Perkins (TPK) 1,540.00p 1.58% IP Group (IPO) 150.80p 1.55% Dixons Carphone (DC.) 171.40p 1.42% FTSE 250 - Fallers Electra Private Equity (ELTA) 962.50p -48.45% Playtech (PTEC) 766.50p -22.30% Ocado Group (OCDO) 268.50p -4.07% Ashmore Group (ASHM) 374.10p -3.61% Acacia Mining (ACA) 175.70p -3.46% CYBG (CYBG) 305.10p -3.39% Softcat (SCT) 528.00p -3.12% Dunelm Group (DNLM) 699.50p -2.58% Lancashire Holdings Limited (LRE) 741.50p -2.37% UK Event Calendar Thursday 02 November INTERIMS 3i Infrastructure, Tate & Lyle INTERIM DIVIDEND PAYMENT DATE Downing Four VCT DP2011 Gen A Shs, Downing Four VCT DP2011 Str, Downing Four VCT DP2011 Str A Shs, Downing Four VCT DP2011Gen, Downing Four VCT DSO 'D' Shs, Good Energy Group INTERIM EX-DIVIDEND DATE Amati VCT , Bloomsbury Publishing, Braemar Shipping Services, C&C Group, Hilton Food Group, IFG Group, Just Group, Laird, Mission Marketing Group, Morgan Advanced Materials , SThree, Warpaint London QUARTERLY EX-DIVIDEND DATE Brunner Inv Trust, JPMorgan Claverhouse Inv Trust, Toro Limited , Unilever INTERNATIONAL ECONOMIC ANNOUNCEMENTS Continuing Claims (US) (12:30) Initial Jobless Claims (US) (12:30) PMI Composite (EU) (09:00) PMI Manufacturing (EU) (09:00) PMI Services (EU) (09:00) Unemployment Rate (GER) (09:00) Q3 Indivior, Lancashire Holdings Limited, Royal Dutch Shell 'A', Royal Dutch Shell 'B', RSA Insurance Group IMSS Schroders SPECIAL EX-DIVIDEND DATE Aberdeen Asian Smaller Companies Investment Trust, Artemis VCT, Octopus Apollo VCT, Softcat, TR European Growth Trust AGMS Go-Ahead Group, Schroder Japan Growth Fund TRADING ANNOUNCEMENTS Amec Foster Wheeler, Croda International, Howden Joinery Group, Intu Properties, Morrison (Wm) Supermarkets, RSA Insurance Group UK ECONOMIC ANNOUNCEMENTS BoE Interest Rate Decision (12:00) FINAL DIVIDEND PAYMENT DATE Redde FINAL EX-DIVIDEND DATE Aberdeen Asian Smaller Companies Investment Trust, Ashmore Group, BlackRock Greater Europe Inv Trust, Dunelm Group, Ideagen, James Halstead, Jupiter Dividend & Growth Trust, Jupiter Dividend & Growth Trust Common, Jupiter UK Growth Investment Trust, NWF Group, Produce Investments, SCS Group , Softcat, TR European Growth Trust, Urals Energy Public Co Ltd. (DI) The Top 10 Stocks for Q4 Our latest quarterly stocks report analyses the top and bottom 10 FTSE 100 performers of 2017 so far and looks at our Top Ten Stock Picks for Q4 including City broker consensus and their average target price for each stock. Losses can exceed deposits Download the report here US Market Report US open: Buying momentum spills over into November Wall Street has begun the new month with fresh gains ahead of the US central bank's policy announcement later in the day and various readings on the economy that some analysts said pointed to GDP growth in the vicinity of 3% in the final stretch of 2017. At 1507 GMT, the Dow Jones Industrial Average was up by 0.38% or 89.55 points at 23.465.38, alonsgide a 0.32% gain for the S&P 500 to 2,583.49 and an advance of 0.10% for the Nasdaq Composite to 6,733.58. From a sector standpoint, the biggest gains were to be seen in Gambling (3.24%), Industrial metals (2.84%) and Distillers (2.74%). In parallel, the yield on the benchmark 10-year US Treasury note was off by two basis points to 2.36%. The Fed interest rate decision was due at 1800 GMT, with no change expected. Market participants would also be turning their attention to President Trump's announcement, due Thursday, about who will replace Janet Yellen as the Fed Chair following reports that he is leaning towards Fed Governor Jerome Powell. Konstantinos Anthis at ADS Securities said: "Given that there will be no changes in policy today the focus will be on the forward guidance the Fed decides to provide investors with and with no press conference scheduled for November's meeting market participants will be eager to read what the accompanying statement has to offer. "The dollar has been on the rise recently and even though it pulled back at the start of the week the bias remains to the upside. Should the Fed's statement point towards further tightening this year and more hikes in 2018 the dollar should extend its gains albeit at a moderate pace as traders will want to wait until Friday's non-farm payrolls report to avoid any unpleasant surprises." Investors were also be keeping an eye out for Trump's tax reform bill, which was meant to be released on Wednesday but has been pushed back a day to resolve some issues. On the economic front, the widely-followed ISM manufacturing sector purchasing managers' index slipped a tad more than expected in October, printing at 58.7, which was down from 60.8 for the previous month (consensus: 59.1). Such a reading, Mickey Levy and Roiana Reid at Berenberg Capital Markets said, was consistent with 3% GDP growth in the last quarter of the year. Despite the slight miss, it was also at the 82bn percentile of all historical readings. Also to take note of, according to ADP/Moody's private sector payrolls rose by 235,000 in October (consensus: 190,000) helped in part by reconstruction efforts in the wake of the recent hurricanes on the Gulf Coast. In corporate news, auto manufacturers were in focus, with GM having posted a 2% drop in sales to 252,813 units alongside 13% fewer vehicles sold by Fiat, although Ford reported a 6.4% increase. Sector wide estimates for the month of October were due out later on Wednesday. Shares of US Steel were also in the spotlight, jumping in the wake of better-than-expected quarterly numbers out overnight which helped to quell concerns around the company on the back of rival AK Steel's latest set of figures published the day before. In particular, market participants took note of stronger than forecast guidance. Meanwhile, in the background, investors were eyeing the first move by the nation's retailers to position ahead of Black Friday, as the day after the Thanksgiving holiday - which 'officially' marks the start of the holiday shopping season - is called with Amazon.com and E-Bay unveiling their plans for this critical quarter. Stock of Clorox was also in the green after its fiscal first-quarter earnings beat analysts' estimates, while Estee Lauder shares were rocketing as the cosmetics maker's first-quarter financials surpassed analysts' forecasts. Allergan was holding higher too after the biotech concern posted third-quarter adjusted earnings per share of $4.15 versus consensus expectations of $4.04, while Molson Coors was in focus as the brewer reported third-quarter adjusted EPS in line with expectations and said full-year targets are unchanged. Still to come, earnings were due from Facebook and Tesla after the close, along with Kraft, Heinz and Qualcomm. Dow Jones - Risers Cisco Systems Inc. (CSCO) $34.74 1.71% Pfizer Inc. (PFE) $35.66 1.71% Walt Disney Co. (DIS) $99.32 1.54% Intel Corp. (INTC) $46.13 1.41% Merck & Co. Inc. (MRK) $55.54 0.81% Johnson & Johnson (JNJ) $140.48 0.77% Goldman Sachs Group Inc. (GS) $244.31 0.75% Wal-Mart Stores Inc. (WMT) $87.96 0.74% Travelers Company Inc. (TRV) $133.39 0.71% Visa Inc. (V) $110.67 0.63% Dow Jones - Fallers Apple Inc. (AAPL) $167.19 -1.09% General Electric Co. (GE) $20.11 -0.26% Boeing Co. (BA) $257.32 -0.26% Verizon Communications Inc. (VZ) $47.78 -0.19% Nike Inc. (NKE) $54.89 -0.18% Microsoft Corp. (MSFT) $83.15 -0.03% E.I. du Pont de Nemours and Co. (DD) $83.93 0.00% Unitedhealth Group Inc. (UNH) $210.26 0.02% International Business Machines Corp. (IBM) $154.13 0.05% Coca-Cola Co. (KO) $46.00 0.05% S&P 500 - Risers Estee Lauder Co. Inc. (EL) $122.17 9.26% United States Steel Corp. (X) $27.41 8.25% Verisk Analytics Inc. (VRSK) $90.47 6.37% Devon Energy Corp. (DVN) $39.09 5.93% Garmin Ltd. (GRMN) $59.44 5.00% Freeport-McMoRan Inc (FCX) $14.56 4.15% Mylan Inc. (MYL) $37.09 3.86% Southwestern Energy Co. (SWN) $5.76 3.69% Marathon Oil Corp. (MRO) $14.73 3.55% Murphy Oil Corp. (MUR) $27.58 3.10% S&P 500 - Fallers Frontier Communications Co. (FTR) $9.39 -22.46% Pitney Bowes Inc. (PBI) $11.48 -16.45% CenturyLink Inc. (CTL) $17.83 -6.11% Electronic Arts Inc. (EA) $113.05 -5.48% Cognizant Technology Solutions Corp. (CTSH) $71.84 -5.06% Zimmer Biomet Holdings Inc (ZBH) $115.94 -4.67% Under Armour Inc. Class A (UAA) $12.05 -3.75% Fiserv Inc. (FISV) $124.60 -3.73% Cerner Corp. (CERN) $65.01 -3.72% Hanesbrands Inc. (HBI) $21.75 -3.33% Nasdaq 100 - Risers Verisk Analytics Inc. (VRSK) $90.47 6.37% Mylan Inc. (MYL) $37.09 3.86% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $208.68 3.41% Viacom Inc. Class B (VIAB) $24.73 2.91% Wynn Resorts Ltd. (WYNN) $151.56 2.76% Liberty Global Plc Lilac Class A (LILA) $22.29 2.62% Biogen Inc (BIIB) $319.08 2.38% QUALCOMM Inc. (QCOM) $52.22 2.37% Liberty Global Plc Lilac Class C (LILAK) $22.51 2.32% Liberty Global plc Series A (LBTYA) $31.48 2.04% Nasdaq 100 - Fallers Check Point Software Technologies Ltd. (CHKP) $105.27 -10.57% Electronic Arts Inc. (EA) $113.05 -5.48% Cognizant Technology Solutions Corp. (CTSH) $71.84 -5.06% Fiserv Inc. (FISV) $124.60 -3.73% Cerner Corp. (CERN) $65.01 -3.72% Tesla Inc (TSLA) $322.26 -2.80% NetEase Inc. Ads (NTES) $275.56 -2.26% Alexion Pharmaceuticals Inc. (ALXN) $117.07 -2.16% Idexx Laboratories Inc. (IDXX) $162.63 -2.13% Prime Centrum Specialists in UK Residential Property Investment with High Income 68% Return on Investment with UK Buy-to-Let Property  Invest From £119,950 7% NET income Assured for 3 Years 15% Discount Below Market Comparables Request More Information Newspaper Round Up Thursday newspaper round-up: Pay gap, Barclay brothers, Facebook, HSBC Women around the globe may have to wait more than two centuries to achieve equality in the workplace, according to new research. The World Economic Forum, best known for its annual gathering in the Swiss resort of Davos, said it would take 217 years for disparities in the pay and employment opportunities of men and women to end. This is significantly longer than the 170 years its researchers calculated a year ago. – Guardian The billionaire Barclay brothers have lost a legal battle with HM Revenue & Customs, after the supreme court ruled that they are not owed £1.25bn related to tax overpayments. The UK's highest court ruled on Wednesday that HMRC should not have to repay Littlewoods, the retailer owned Frederick and David Barclay, more than £1bn in "compound interest" on historic VAT overpayments. - Guardian Shares in Facebook oscillated in Wednesday after-hours trading as mobile advertising continued to drive revenue growth, but it warned over a hit to profitability from growing investment in security. Revenue for the three months ended Sep 30 was up 47pc on a year earlier to $10.3bn (£7.8bn), thanks to a 49pc increase in advertising revenue. Of this advertising revenue, around 88pc came from mobile adverts, up from 84pc a year earlier. " Telegraph Alex Salmond has joined a plot to topple the board and senior management of Johnston Press, pledging to revitalise the struggling publisher of the Scotsman and shift its corporate headquarters back north of the border. The Telegraph can reveal that the former First Minister of Scotland is collaborating with Christen Ager-Hanssen, the Norwegian activist investor behind the planned coup, who intends to nominate him to become chairman of Johnston Press. " Telegraph Nearly half a million British businesses are in "significant financial distress" in what Begbies Traynor described yesterday as the calm before a looming storm of insolvencies The restructuring specialist said that the number of businesses experiencing financial distress had reached "unprecedented" levels over the past 12 months. Many had "overstretched themselves, taking too many risks after being lulled into a false sense of security by the continued low interest rate environment". " The Times HSBC has been accused by Lord Hain, the former Labour cabinet minister, of "complicity" in a South African scandal involving allegations of money laundering by the Gupta family. Speaking in the House of Lords yesterday, he told peers that he had asked the Treasury to investigate an unnamed bank over claims that it had ignored warnings about the source of funds transferred by the Guptas. " The Times Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 GSK GlaxoSmithKline plc 6.09 2 GGP Greatland Gold Plc 3.69 3 BARC Barclays plc 2.32 4 LLOY Lloyds Banking Group plc 2.23 5 VAST Vast Resources plc 1.79 6 SXX Sirius Minerals plc 1.52 7 UKOG UK Oil & Gas Investments plc 1.14 8 BT.A BT Group plc 1.08 9 SMT Scottish Mortgage Investment Trust 1.04 10 ULVR Unilever plc 0.93 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 3.23 2 GGP Greatland Gold Plc 2.37 3 VAST Vast Resources plc 1.43 4 SXX Sirius Minerals plc 1.42 5 UKOG UK Oil & Gas Investments plc 1.06 6 GSK GlaxoSmithKline plc 0.93 7 GLEN Glencore plc 0.87 8 BDEV Barratt Developments plc 0.86 9 BOO Boohoo.com 0.86 10 BP. BP Plc 0.86   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