Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 01 December 2017 18:54:54 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: Stocks succumb to selling as Russia controversy envelops US administration London stocks ended the Friday session on a down note as reports began to break that ex-US national security agency chief Michael Flynn might testify against his previous boss, the US president. The FTSE finished 0.36% or 26.18 points lower to 7,300.49, while the pound was down by 0.1% against the euro at 1.1341 and 0.1% lower versus the dollar at 1.3511, although the latter was well off its intra-day lows as the US dollar weakened. Friday's late spike in risk aversion was especially clear in government bond markets, with the yield on the benchmark 10-year Gilt down by an outsized ten basis points to 1.23%. Earlier, Flynn pleaded guilty to charges that he lied to the Federal Bureau of Investigation regarding conversations with the Russian ambassador as part of the new administration's transition following their election victory. That was followed by a report from ABC according to which Flynn had agreed to testify against Trump. Back home, reported activity in the UK manufacturing sector picked up in November, hitting its highest level since August 2013, according to a survey released earlier. The Markit/CIPS manufacturing purchasing managers' index rose to 58.2 from October's 56.6, which was revised up from 56.3. This marked a 51-month high and was ahead of analysts' expectations for a reading of 56.5. A reading above 50.0 indicates expansion, while a reading below signals contraction. Manufacturing production expanded at the fastest pace since September 2016 and to one of the greatest extents during the past four years. This was attributed to stronger inflows of new orders, reflecting solid domestic demand and steeper gains in new export business. Howard Archer, chief economic adviser at the EY ITEM Club, said "The outlook for manufacturing appears mixed. Domestic conditions look challenging despite November's healthy orders. Increased prices for capital goods and big-ticket consumer durable goods, weakened consumer purchasing power, and economic and political uncertainty threaten to hamper manufacturers. Businesses' willingness to invest and buy capital goods is being tested by persistent weak UK economic activity as well as Brexit uncertainties." On the export side, Archer noted that the very competitive pound and healthy global demand were helping UK manufacturers compete in foreign markets. "The weakened pound also appears to be encouraging some companies to switch to domestic sources for supplies. Significantly, the Bank of England regional agents reported in their November survey of business conditions that some manufacturers reported increased sourcing from domestic customers." Investors were also mulling news that the US Senate late on Thursday delayed a vote on the Republicans' tax reform bill until Friday due to problems with an amendment to address a large expansion of the federal budget deficit that is expected to result from the measure. In corporate news, Royal Bank of Scotland was in the red after saying it will close 259 branches and cut 680 jobs as customers shift to online banking. Barclays and Lloyds also traded lower. Barclays was also in focus after it completed the sale of a 7.0% stake in Barclays Africa Group Limited to bring down its total shareholding to 14.9%. Countryside Properties was on the back foot after private equity firm Oaktree Capital - its largest shareholder - sold a 15% stake in the group. Indivior bucked trend, surging as it received approval from the US drug regulator to market its once-monthly injectable treatment for moderate to severe opioid use disorder, which analysts believe could lift company sales well north of $1bn. In broker note action, Royal Mail was dented by a downgrade to 'sell' from 'hold' at Deutsche Bank, while Babcock International was under the cosh after Morgan Stanley downgraded the stock to 'equalweight' from 'overweight' and slashed its target. Pendragon was lower as JPMorgan initiated coverage of the stock at 'underweight', while Vesuvius was hit by an initiation at 'underweight' by Barclays. FatPROPHETS Successful stock recommendations since 2000 Fat Prophets is a stock market research house that specialises in assisting value based investors with buy, hold and sell recommendations Click Here Market Movers FTSE 100 (UKX) 7,300.49 -0.36% FTSE 250 (MCX) 19,854.40 -0.49% techMARK (TASX) 3,418.36 -0.47% FTSE 100 - Risers Convatec Group (CTEC) 199.50p 2.84% British American Tobacco (BATS) 4,784.50p 2.04% Anglo American (AAL) 1,384.00p 1.84% Randgold Resources Ltd. (RRS) 6,885.00p 1.62% easyJet (EZJ) 1,425.00p 1.35% Fresnillo (FRES) 1,308.00p 1.32% Paddy Power Betfair (PPB) 8,430.00p 1.26% GlaxoSmithKline (GSK) 1,290.00p 0.82% Pearson (PSON) 713.50p 0.78% Tesco (TSCO) 195.50p 0.75% FTSE 100 - Fallers Associated British Foods (ABF) 2,870.00p -2.65% Severn Trent (SVT) 2,046.00p -2.53% Prudential (PRU) 1,815.00p -2.37% Royal Bank of Scotland Group (RBS) 270.10p -2.35% SSE (SSE) 1,338.00p -2.26% Smurfit Kappa Group (SKG) 2,301.00p -2.25% Scottish Mortgage Inv Trust (SMT) 440.60p -2.22% Rolls-Royce Holdings (RR.) 838.00p -2.22% G4S (GFS) 251.10p -2.14% Barclays (BARC) 189.40p -2.12% FTSE 250 - Risers Inmarsat (ISAT) 507.00p 4.99% Wizz Air Holdings (WIZZ) 3,469.00p 3.35% Tullow Oil (TLW) 184.20p 3.19% Ocado Group (OCDO) 363.50p 3.09% Cairn Energy (CNE) 217.90p 3.03% Indivior (INDV) 382.00p 3.02% P2P Global Investments (P2P) 813.50p 2.92% Go-Ahead Group (GOG) 1,598.00p 2.83% Petrofac Ltd. (PFC) 432.30p 2.78% Dixons Carphone (DC.) 162.70p 2.39% FTSE 250 - Fallers Countryside Properties (CSP) 338.00p -7.27% Dignity (DTY) 1,624.00p -6.24% Computacenter (CCC) 1,078.00p -4.26% Travis Perkins (TPK) 1,544.00p -4.04% Royal Mail (RMG) 424.60p -3.91% Grafton Group Units (GFTU) 743.75p -3.76% Renishaw (RSW) 5,125.00p -3.57% Sophos Group (SOPH) 548.50p -3.52% Pets at Home Group (PETS) 168.30p -3.50% Following the financial crisis, high street banks have funded fewer SME housebuilders Alternative finance providers are stepping in to fill this void, offering investors high margins and attractive returns. One of these lenders, Clearwell Capital is currently fundraising with a 3-year secured bond paying 10% per annum. Click here to find out more. Capital at risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Midday rally smothered out by US political controversy Stocks on the Continent have begun the new month in poor form, with a late advance into the black breaking down as news of the brewing political controversy in the US hit the wires. By the closing bell, the benchmark Stoxx 600 was down by 0.70% or 2.72 points at 383.97, alongside a 1.25% or 162.49 point fall for the German Dax to 12,861.49 and with the Cac-40 down by 1.04% or 55.90 points to 5,316.89. In parallel, euro/dollar was edging higher by 0.08% to 1.1900. Earlier, ex-US National Security Agency chief Michael Flynn pleaded guilty to charges that he lied to the Federal Bureau of Investigation regarding conversations with the Russian ambassador as part of the new administration's transition following their election victory. That was followed by a report from ABC according to which Flynn had agreed to testify against Trump. The news drowned out optimism among traders regarding the prospects for US tax reforms, amid reports that Senate Republicans had secured sufficient support to secure passage of their proposals through the upper chamber. In economic news, IHS Markit's euro area factory sector purchasing managers' index jumped from a reading of 58.5 for October to 60.1 in November (preliminary: 60.0). That was its best level since April 2000, as subindices linked to output and new orders hit multi-year highs, amid record levels of job creation, the survey compiler said. Elsewhere, ISTAT revised down its initial estimate of Italian GDP growth in the third quarter of 2017 from 0.5% quarter-on-quarter to 0.4%. On the corporate front, shares of Italian oil field services group Saipem found a bid after announcing it had inked a new offshore contract in Saudi Arabia. Latest reports from Atlantic Advisory, including GSK, BP, Lloyds....... Available Now: AstraZeneca, Bitcoin, Boohoo.com, BP, Carillion, Glaxo SmithKline, Glencore, Greatland Gold Plc, UK House Prices, Hurrancane Energy, IQE, Lloyds Banking Group, Barclays vs Lloyds, UK Oil and Gas, Provident Financial and Sirius Minerals. Click here to select your FREE REPORTS from Atlantic Advisory CFDs are leveraged products that carry a high level of risk to your capital. US Market Report US open: Wall Street down after report ex-NSA Michael Flynn might testify against Trump The spotlight on Wall Street shifted rapidly, from Friday afternoon's expected Senate vote on that chamber's proposed tax reforms to the political arena, after news broke that ex-US national security adviser Michael Flynn would testify against the president. At 1615 GMT, the Dow Jones Industrial Average was trading down by 1.07% or 259.78 points at 23,991.37, while the S&P 500 was off by 1.24% or 32.55 points to 2,614.24 and the Nasdaq Composite by 1.54% or 109.81 to 6,758.73. Presciently, IG's chief market analyst Chris Beauchamp said: "The day has not seen fresh highs in the US yet, but given the way the Dow moved yesterday it would only be a small matter to clock up yet another record. But there is a fly in the ointment; as former NSA director Michael Flynn pleads guilty, the way could be open to dramatic developments in the Russia collusion probe. "This year, equities have defied everything else that was thrown at them. Can they withstand the potential implicating of the President of the United States in backroom deals with a foreign power?" On Friday afternoon, ABC reported that Flynn would testify against his old boss, setting off an avalanche of selling in stocks. That was reflected in the day's sector moves, with arguably the US president's favoured sector, coal, at the bottom of the pile with a drop of 5.75%, followed by Electronic Office Equipment (-4.28%) and Marine Transportation (-3.71%). Relegated to a side show for now, reports indicated that US Senate Republicans had clinched sufficient support in order to secure approval of their tax cut plans through the upper house of Congress. The day before, optimism over the Senate passing a bill to overhaul the US tax code helped to propel the Dow to a close above 24,000 for the first time, while the S&P 500 also ended at an all-time high. Economic data at the end of the week was supportive as well, with the ISM's manufacturing sector purchasing managers´ index slipping from a reading of 58.7 in October to 58.2 for November (consensus: 58.3). Nevertheless, the PMI continued to point to very solid levels of factory activity, analysts said. US construction sector spending was even stronger, rising by 1.4% month-on-month in October (consensus: 0.5%). Dow Jones - Risers Merck & Co. Inc. (MRK) $55.49 0.40% Chevron Corp. (CVX) $119.25 0.22% International Business Machines Corp. (IBM) $153.92 -0.03% Travelers Company Inc. (TRV) $135.45 -0.09% Johnson & Johnson (JNJ) $139.13 -0.14% Exxon Mobil Corp. (XOM) $83.15 -0.17% Microsoft Corp. (MSFT) $84.01 -0.19% Procter & Gamble Co. (PG) $89.78 -0.23% Goldman Sachs Group Inc. (GS) $246.98 -0.27% Cisco Systems Inc. (CSCO) $37.19 -0.29% Dow Jones - Fallers Visa Inc. (V) $110.41 -1.94% General Electric Co. (GE) $17.95 -1.83% Intel Corp. (INTC) $44.14 -1.56% Unitedhealth Group Inc. (UNH) $224.67 -1.53% United Technologies Corp. (UTX) $119.76 -1.39% Boeing Co. (BA) $273.35 -1.25% Dowdupont Inc. (DWDP) $71.07 -1.24% 3M Co. (MMM) $240.32 -1.16% Apple Inc. (AAPL) $170.00 -1.08% American Express Co. (AXP) $96.69 -1.04% S&P 500 - Risers Transocean Ltd. (RIG) $10.71 5.62% Apache Corp. (APA) $43.66 4.37% Murphy Oil Corp. (MUR) $29.04 3.90% Mylan Inc. (MYL) $37.91 3.78% Diamond Offshore Drilling Inc. (DO) $16.54 3.12% Halliburton Co. (HAL) $43.07 3.09% Newfield Exploration Co (NFX) $31.79 2.78% Spectra Energy Corp. (SE) $11.92 2.76% Noble Energy Inc. (NBL) $27.00 2.66% Tiffany & Co. (TIF) $97.00 2.65% S&P 500 - Fallers Qorvo, Inc. (QRVO) $73.27 -4.32% Broadcom Limited (AVGO) $267.13 -3.89% Patterson Companies Inc. (PDCO) $35.16 -3.80% Lam Research Corp. (LRCX) $185.45 -3.58% Textron Inc. (TXT) $53.78 -3.46% H&R Block Inc. (HRB) $25.29 -3.40% Roper Technologies Inc (ROP) $258.19 -3.38% Raytheon Co. (RTN) $184.71 -3.37% Micron Technology Inc. (MU) $40.98 -3.33% Vulcan Materials Co. (VMC) $121.51 -3.29% Nasdaq 100 - Risers Mylan Inc. (MYL) $37.91 3.78% Liberty Global Plc Lilac Class C (LILAK) $21.19 2.12% Charter Communications Inc. (CHTR) $332.43 1.91% Liberty Global Plc Lilac Class A (LILA) $21.16 1.73% Regeneron Pharmaceuticals Inc. (REGN) $367.95 1.68% Comcast Corp. (CMCSA) $38.15 1.61% Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $56.26 0.81% eBay Inc. (EBAY) $34.87 0.58% Ctrip.Com International Ltd. Ads (CTRP) $46.25 0.37% Celgene Corp. (CELG) $101.05 0.22% Nasdaq 100 - Fallers Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $203.06 -8.41% Broadcom Limited (AVGO) $267.13 -3.89% Align Technology Inc. (ALGN) $251.25 -3.69% Lam Research Corp. (LRCX) $185.45 -3.58% Micron Technology Inc. (MU) $40.98 -3.33% Skyworks Solutions Inc. (SWKS) $101.49 -3.10% Applied Materials Inc. (AMAT) $51.36 -2.67% J.B. Hunt Transport Services Inc. (JBHT) $108.27 -2.58% Hologic Inc. (HOLX) $40.67 -2.50% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 CNA Centrica plc 4.98 2 CLLN Carillion plc 2.62 3 GSK GlaxoSmithKline plc 1.69 4 SMT Scottish Mortgage Investment Trust 1.63 5 LLOY Lloyds Banking Group plc 1.40 6 BAB Babcock International Group 1.36 7 VRS Versarien plc 1.20 8 BOO Boohoo.com 1.08 9 NG. National Grid 1.03 10 XBT Provider AB 1.02 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 1.58 2 CLLN Carillion plc 1.53 3 EZJ easyJet plc 1.24 4 PFC Petrofac 1.12 5 RMG Royal Mail PLC 1.09 6 VRS Versarien plc 1.06 7 CNA Centrica plc 1.04 8 TSCO Tesco plc 1.03 9 GGP Greatland Gold Plc 0.97 10 BOO Boohoo.com 0.95 Broker Tips Broker tips: SIG, Barclays, Cineworld Jefferies upgraded insulation and roofing supplier SIG to 'buy' from 'hold' and lifted the price target to 200p from 150p saying the recent strategy day mapped out a credible turnaround plan. "The road will not be straight, but we expect management to fully deliver on their 5% margin targets in the medium term. Much of the turnaround lies within the group's control and is not predicated on rapid recovery in the group's end markets" it said. Jefferies pointed out that SIG's strategy is to achieve 5% return on sales and 15% return on capital employed margins in the medium term, while reducing leverage to less than 1x. It said that in essence, the strategy involves doing more with what the group already has. Management has identified three strategic levers, customer service, customer value and operational efficiency, supported by enhanced data and IT services. Threadneedle Street's stress tests are "somewhat negative" for the UK listed domestic banks, said Exane BNP Paribas on Tuesday, warning that it "raises questions over the speed to dividend normalisation". Exane noted that the £50bn of losses revealed in the Bank of England's stress tests were much larger than seen in the 2016 stress test and "are likely to raise concerns over the extent to which PRA buffers are required". The Bank said no banks needed to make changes as a result of the test, the first time it has been able to do this since the tests started in 2014, but its Financial Policy Committee will now review whether an additional capital cushion is needed. Such an extra buffer would be determined by the Prudential Regulation Authority. Exane added that by the time fully loaded requirements become binding at the start of 2019 these numbers might have changed markedly, with misconduct costs expected to fall markedly over the next year or two, "but the size of these losses will still raise question marks over these banks". Exane said its initial view is that Barclays "looks most vulnerable of the UK domestic banks to a PRA buffer" at the start of 2019, particularly given it also lost 450bps in last year's test and the PRA does not focus on just one year's numbers.   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

ADVFN Newsdesk - Uncertainty About Tax Bill May Lead To Choppy Trading On Wall Street

ADVFN  World Daily Markets Bulletin Daily world financial news Friday, 01 December 2017 10:34:02    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 roughly flat opening on Friday following the strong upward move seen in the previous session. Traders may be reluctant to make any significant moves amid uncertainty about the prospects for the Senate Republican tax reform bill. Optimism about passage of the bill contributed to the strength seen on Thursday, although GOP leaders were forced to delay a final vote after the legislation hit a snag. Reports suggest the Senate parliamentarian ruled against the so-called "trigger" proposed by Senator Bob Corker, R-Tenn., which would raise taxes if the economic growth generated by the tax cuts does not offset the cost. The latest reports suggest that Republicans have rounded up enough votes to pass a revised bill, with a series of roll call votes scheduled for 11 am ET. The outcome of the final vote on the tax reform bill is likely to have a major impact on the markets, as optimism about a corporate tax rate cut has been a key driver behind the run by stocks to new record highs. Following the mixed performance seen on Wednesday, stocks moved mostly higher during trading on Thursday. With the upward move on the day, the Dow and the S&P 500 reached new record closing highs. The major averages finished the day firmly in positive territory but off their highs of the session. The Dow surged up 331.67 points or 1.4 percent to 24,272.35, the Nasdaq climbed 49.58 points or 0.7 percent to 6,873.97 and the S&P 500 advanced 21.51 points or 0.8 percent to 2,647.58. The strength on Wall Street partly reflected optimism about the outlook for tax reform after Senate Republicans cleared a key procedural hurdle. The Senate voted 52 to 48 along party lines on Wednesday to begin formal debate on the GOP tax reform bill after negotiations convinced Republican holdouts to vote for the legislation. The approval of the procedural motion sets the stage for a final Senate vote on the tax reform bill late Thursday or early Friday. Adding to the optimism about the passage of the bill, Senator John McCain, R-Ariz., announced he would support the legislation. Upbeat economic data may also have generated some buying interest, with a Labor Department report showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended November 25th. The report said initial jobless claims edged down to 238,000, a decrease of 2,000 from the previous week's revised level of 240,000. Economists had expected jobless claims to inch up to 240,000 from the 239,000 originally reported for the previous week. A separate report from the Commerce Department showed personal income increased by slightly more than expected in October, while personal spending rose in line with estimates. The report said personal income climbed by 0.4 percent in October, matching the increase seen in September. Economists had expected income to rise by 0.3 percent. The Commerce Department also said personal spending rose by 0.3 percent in October after climbing by a downwardly revised 0.9 percent in September. Economists had expected spending to rise by 0.3 percent compared to the 1.0 percent jump originally reported for the previous month. Meanwhile, MNI Indicators released a report showing a modest slowdown in the pace of growth in Chicago-area business activity in the month of November. Extending the strong upward move seen over the two previous sessions, transportation stocks moved sharply higher on the day. The Dow Jones Transportation Average surged up by 2 percent to a record closing high. Southwest Airlines (LUV), Union Pacific (UNP), and C.H. Robinson Worldwide (CHRW) turned in some of the sector's best performances. Significant strength was also visible among oil service stocks, as reflected by the 1.8 percent gain posted by the Philadelphia Oil Service Index. The strength in the sector came as OPEC and other oil exporters agreed to extend an agreement limiting production through 2018. Biotechnology stocks also turned in a strong performance, resulting in a 1.8 percent jump by the NYSE Arca Biotechnology Index. With the gain, the index reached its best closing level in over a month. Natural gas, software and retail stocks also saw notable strength on the day, moving higher along with most of the other major sectors. 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 At 9:05 am ET, St. Louis Federal Reserve President James Bullard is scheduled to give a presentation on the U.S. Economy and Monetary Policy at the Economic Briefing in Little Rock, Arkansas. Dallas Fed President Robert Kaplan is due to participate in a moderated Q&A session at the "Border Economic Development and Entrepreneurship Symposium" in McAllen, Texas, at 9:30 am ET. At 10 am ET, the Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of November. The ISM's purchasing managers index is expected to edge down to 58.4 in November from 58.7 in October, but a reading above 50 would still indicate growth in the manufacturing sector. The Commerce Department is also due to release its report on construction spending in the month of October at 10 am ET. Construction spending is expected to climb by 0.5 percent. At 10:15 am ET, Philadelphia Fed President Patrick Harker is scheduled to discuss "Inclusive Economic Growth" at the "Philadelphia Fed Policy Forum: People, Place, Prosperity: Revitalizing Our Cities." 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 Ulta Beauty (ULTA) are moving notably lower in pre-market trading after the cosmetics retailer reported better than expected third quarter earnings but provided disappointing guidance. Apparel retailer Genesco (GCO) could also come under pressure after reporting weaker than expected third quarter earnings and cutting its full-year forecast. Shares of Big Lots (BIG) are also seeing pre-market weakness even though the discount retailer reported better than expected third quarter earnings and raise its full-year earnings guidance. On the other hand, shares of Ambarella (AMBA) are likely to see early strength after the maker of video processing chips reported third quarter earnings that beat analyst estimates. Virtualization software developer VMWare (VMW) is also moving higher in pre-market trading after reporting better than expected third quarter results. Shares of Five Below (FIVE) may also move to the upside after the discount retailer reported third quarter results that exceeded analyst estimates and raised its full-year guidance. Europe markets European stocks are mostly lower on Friday as manufacturing data from China disappointed and investors awaited the Senate's vote on tax reform legislation. The French CAC 40 Index and the German DAX Index are both down by 0.6 percent, although the U.K.'s FTSE 100 Index is just above the unchanged line. British bank Barclays has shown a notable move to the downside after cutting stake in its Africa division. French dairy giant Danone has also moved lower after it was awarded damages of 105 million euros to be paid immediately by Fonterra for costs suffered as a result of the Fonterra food safety failures of 2013. On the positive side, British pharmaceutical firm Indivior has soared after its opioid addiction drug was approved by the U.S. health regulator. French telecom company Altice has also rallied after it agreed to sell its Swiss telecommunications solutions business and data center operations. Royal Dutch Shell has advanced after striking a deal with PetroChina that will pave the way for the development of large gas project in Australia. 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. Asia markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts Asian stocks gave up early gains to end mixed on Friday after the Senate vote on the tax bill was delayed and a private survey showed that activity in China's vast manufacturing sector slowed in November to the weakest pace in five months. The dollar held steady against the Japanese yen and oil prices extended overnight gains after a decision by the world's biggest oil producers to extend oil output cuts until the end of 2018, helping support underlying sentiment to some extent. Regional manufacturing surveys also painted a mostly positive picture. Chinese stocks ended roughly flat on concerns over slowing growth after the Caixin manufacturing PMI dropped to 50.8 in November from 51.0 in October, signaling a slight slowdown in growth. China's Shanghai Composite Index edged down 0.62 points or less than a tenth of a percent to 3,317.81, while Hong Kong's Hang Seng Index fell 103.11 points or 0.4 percent to 29,074.24. Meanwhile, Japanese shares rose for a third day as the yen weakened against the greenback and investors digested mostly positive readings on manufacturing, inflation, private capital expenditure, household spending and unemployment. The Nikkei 225 Index closed up 94.07 points or 0.4 percent at 22,819.03, taking its weekly gain to 1.2 percent. The broader Topix Index closed 0.3 percent higher at 1,796.53. Sharp Corp. jumped almost 8 percent on news that its shares will return to the First Section of the Tokyo Stock Exchange on December 7th. Toshiba gained 1.8 percent on a Bloomberg report that the Japanese conglomerate and Western Digital (WDC) are close to settling their legal dispute. Australian shares eked out modest gains, led by financials and industrials on U.S. tax reform hopes. Positive manufacturing data also buoyed sentiment. The benchmark S&P/ASX 200 Index rose by 19.86 points or 0.3 percent to 5,989.76, while the broader All Ordinaries Index ended up 17.40 points or 0.30 percent at 6,074.60. Lender ANZ gained 0.6 percent and Westpac rose 0.3 percent, shrugging off concerns surrounding a government inquiry into the banking and financial sectors. Billabong International soared 21.8 percent after the surfwear retailer received a confidential, non-binding merger proposal from Boardriders. The uptick in oil prices helped lift energy stocks, with Woodside Petroleum, Santos, Origin Energy and Oil Search rising 1-2 percent. Beach Energy shares jumped as much as 8.6 percent. Mining giant BHP Billiton rose over 1 percent and biotechnology firm CSL advanced 1.6 percent. 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 Commodity, Currency Markets Crude oil futures are rising $0.39 to $57.79 a barrel after inching up $0.10 to $57.40 a barrel on Thursday. Meanwhile, after sliding $9.50 to $1,276.70 an ounce in the previous session, gold futures are unchanged. On the currency front, the U.S. dollar is trading at 112.63 yen compared to the 112.54 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1875 compared to yesterday's $1.1904. 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     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 Friday, 01 December 2017 10:32:30 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 nudge up; RBS drops on branch closures but Indivior surges London stocks nudged higher early on Friday but gains were limited in quiet trade, with RBS in focus after it announced the closure of one in four branches. At 0840 GMT, the FTSE was up 0.1% to 7,331.63, while the pound was down 0.3% against the euro at 1.1327 and 0.1% lower versus the dollar at 1.3516. Investors were mulling news that the US Senate late on Thursday delayed a vote on the Republicans' tax reform bill until Friday due to problems with an amendment to address a large expansion of the federal budget deficit that is expected to result from the measure. On the data front, Markit's manufacturing purchasing managers' index is at 0930 GMT. Spreadex analyst Connor Campbell said: "How the FTSE and pound perform as the day goes on will likely be dependent on the state of November's manufacturing PMI. Analysts are expecting a slight increase, from 56.3 to 56.6 month-on-month; if accurate that'd be the best reading in 3 months, and could help sterling pick up where it left off yesterday." Heavily-weighted mining stocks put in a solid performance as metals prices rose, with Anglo American, BHP Billiton and Antofagasta all higher. Elsewhere, Indivior surged as it received approval from the US drug regulator to market its once-monthly injectable treatment for moderate to severe opioid use disorder, which analysts believe could lift company sales north of $1bn. On the downside, Royal Bank of Scotland was in the red after saying it will close 259 branches and cut 680 jobs as customers shift to online banking. Barclays was weaker as it sold a 7.0% stake in Barclays Africa Group Limited to bring down its total shareholding to 14.9%. Countryside Properties was on the back foot as Oaktree upped the size of its accelerated bookbuild in the stock due to strong investor demand, selling 67.5m shares at 340p each, representing a 15% stake. In broker note action, Babcock International was under the cosh after Morgan Stanley downgraded the stock to 'equalweight' from 'overweight' and slashed the price target to 800p from 975p. Pendragon was lower as JPMorgan initiated coverage of the stock at 'underweight', while Vesuvius was hit by an initiation at 'underweight' by Barclays. Ashmore was higher after an initiation at 'buy' at Canaccord. FatPROPHETS Successful stock recommendations since 2000 Fat Prophets is a stock market research house that specialises in assisting value based investors with buy, hold and sell recommendations Click Here Market Movers FTSE 100 (UKX) 7,331.63 0.07% FTSE 250 (MCX) 19,956.78 0.02% techMARK (TASX) 3,432.80 -0.05% FTSE 100 - Risers Anglo American (AAL) 1,392.00p 2.43% GlaxoSmithKline (GSK) 1,293.50p 1.09% BHP Billiton (BLT) 1,358.00p 0.97% Antofagasta (ANTO) 917.50p 0.88% Royal Dutch Shell 'B' (RDSB) 2,409.00p 0.86% Shire Plc (SHP) 3,692.50p 0.85% Royal Dutch Shell 'A' (RDSA) 2,377.00p 0.83% Glencore (GLEN) 342.30p 0.80% Convatec Group (CTEC) 195.50p 0.77% Rio Tinto (RIO) 3,528.50p 0.77% FTSE 100 - Fallers Babcock International Group (BAB) 677.50p -2.80% Kingfisher (KGF) 329.30p -1.41% Next (NXT) 4,416.00p -1.36% Barclays (BARC) 190.90p -1.34% Marks & Spencer Group (MKS) 309.10p -1.31% BT Group (BT.A) 257.45p -1.28% Mediclinic International (MDC) 559.00p -1.15% 3i Group (III) 891.50p -1.05% Royal Bank of Scotland Group (RBS) 273.90p -0.98% G4S (GFS) 254.10p -0.97% FTSE 250 - Risers Indivior (INDV) 412.30p 11.19% P2P Global Investments (P2P) 809.50p 2.73% Inmarsat (ISAT) 495.00p 2.51% PayPoint (PAY) 942.04p 2.40% Fidessa Group (FDSA) 2,507.00p 2.04% CYBG (CYBG) 319.20p 1.72% Saga (SAGA) 185.70p 1.64% SIG (SHI) 172.50p 1.59% Polypipe Group (PLP) 374.70p 1.46% Evraz (EVR) 290.30p 1.40% FTSE 250 - Fallers Countryside Properties (CSP) 346.00p -5.08% Royal Mail (RMG) 422.15p -4.47% Rank Group (RNK) 238.20p -3.29% Travis Perkins (TPK) 1,578.00p -1.93% Vesuvius (VSVS) 550.50p -1.78% Stagecoach Group (SGC) 178.30p -1.49% Elementis (ELM) 268.40p -1.47% TalkTalk Telecom Group (TALK) 151.00p -1.37% Restaurant Group (RTN) 282.80p -1.36% Following the financial crisis, high street banks have funded fewer SME housebuilders Alternative finance providers are stepping in to fill this void, offering investors high margins and attractive returns. One of these lenders, Clearwell Capital is currently fundraising with a 3-year secured bond paying 10% per annum. Click here to find out more. Capital at risk. UK Event Calendar Friday December 01 INTERIM DIVIDEND PAYMENT DATE Action Hotels, Anpario, Balfour Beatty, Hargreave Hale AIM VCT 2, Hilton Food Group, Laird, Mission Marketing Group, Scottish Mortgage Inv Trust INTERIM EX-DIVIDEND DATE First Property Group QUARTERLY PAYMENT DATE Chenavari Toro Income Fund Limited NPV, JPMorgan Claverhouse Inv Trust INTERNATIONAL ECONOMIC ANNOUNCEMENTS Construction Spending (US) (15:00) ISM Manufacturing (US) (15:00) ISM Prices Paid (US) (15:00) PMI Composite (EU) (09:00) PMI Composite (GER) (08:55) PMI Manufacturing (GER) (08:55) PMI Manufacturing (EU) (09:00) PMI Manufacturing (US) (14:45) PMI Services (EU) (09:00) PMI Services (GER) (08:55) Q3 PJSC Megafon GDR (Reg S) SPECIAL DIVIDEND PAYMENT DATE Electra Private Equity AGMS Aberdeen Asian Smaller Companies Investment Trust, DFS Furniture, Green Reit, Haydale Graphene Industries, James Halstead, Purecircle Limited (DI), Ruffer Investment Company Ltd Red PTG Pref Shares, Starvest UK ECONOMIC ANNOUNCEMENTS PMI Manufacturing (09:30) FINAL DIVIDEND PAYMENT DATE Ashmore Group, Clinigen Group, Ferguson, Genesis Emerging Markets Fund Ltd Ptg NPV, Genus, James Halstead, JPMorgan Emerging Markets Inv Trust, Kier Group, Mcbride, Urals Energy Public Co Ltd. 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US Market Report US close: Wall Street continues to ride tax reform optimism Wall Street continued to push higher on Thursday, amid greater optimism over the likelihood of US tax reforms and the potential impact they might have on stocks. The Dow Jones Industrial Average finished up 1.39% at 24,272.35 and the S&P 500 added 0.82% to 2,647.58, with the Nasdaq 100 ending the session 0.86% firmer at 6,365.56. Investors spent much of the day waiting for a final vote on the Republicans' tax bill, which could take place later on Thursday evening. "The Senate is on track to pass its version of tax reform later today or Friday," noted economists at Oxford Economics. "The next step would be to reconcile differences with the House version passed earlier this month. "Tax reform has gained momentum and we think the odds that legislation will pass before year end have increased to 60-70%." The Oxford Economics team did not one possible wrinkle being that at least one key Republican vote could hinge on the passage of legislation to shore up the Affordable Care Act. On the energy front, Brent crude oil futures were 0.72% higher at $63.57 a barrel as OPEC members agreed on maintaining their current reduced output until the end of 2018. "Wednesday's tech selloff is doing little to weigh on risk appetite ahead of the open on Thursday, with futures on all three major indices around a third of a percentage point higher, tracking broad gains in Europe," noted Oanda analyst Craig Erlam on the day's earlier movements. "With US indices trading around record highs it seems investors are currently willing to shrug off Wednesday's declines some of the biggest tech names, putting it down to profit taking rather than a sign of any underlying concerns given the already extended levels. "With plenty of economic data to come today including income, spending and inflation - the Fed's preferred measure - as well as appearances from Federal Reserve officials, this positive risk appetite may well be put to the test at times." In corporate news, Juniper Networks was sharply lower, falling 5.93% after Finnish network equipment maker Nokia said it was not in talks about buying its California-based rival. Elsewhere, Sears Holdings shares were in focus, falling 3.09% after the ailing department store chain reported a narrowing of fiscal third-quarter losses. Dow Jones - Risers Goldman Sachs Group Inc. (GS) $247.64 3.44% Boeing Co. (BA) $276.80 3.29% United Technologies Corp. (UTX) $121.45 2.80% American Express Co. (AXP) $97.71 2.55% Visa Inc. (V) $112.59 2.49% Unitedhealth Group Inc. (UNH) $228.15 2.35% Chevron Corp. (CVX) $118.99 2.18% 3M Co. (MMM) $243.11 2.16% Intel Corp. (INTC) $44.84 2.03% Verizon Communications Inc. (VZ) $50.89 1.98% Dow Jones - Fallers General Electric Co. (GE) $18.29 -0.65% Cisco Systems Inc. (CSCO) $37.30 -0.48% Wal-Mart Stores Inc. (WMT) $97.25 -0.34% Johnson & Johnson (JNJ) $139.31 -0.34% Merck & Co. Inc. (MRK) $55.27 -0.16% Nike Inc. (NKE) $60.42 0.10% Pfizer Inc. (PFE) $36.26 0.14% Coca-Cola Co. (KO) $45.77 0.62% Procter & Gamble Co. (PG) $89.99 0.68% JP Morgan Chase & Co. (JPM) $104.52 0.76% S&P 500 - Risers Advance Auto Parts (AAP) $101.02 8.82% Humana Inc. (HUM) $260.86 6.81% L Brands Inc (LB) $56.07 6.76% CenturyLink Inc. (CTL) $14.59 6.57% Chipotle Mexican Grill Inc. (CMG) $304.39 6.48% Kroger Co. (KR) $25.86 6.07% Alliance Data Systems Corp. (ADS) $239.24 6.05% FedEx Corp. (FDX) $231.46 5.93% Hanesbrands Inc. (HBI) $20.89 5.77% Hess Corp. (HES) $45.88 5.76% S&P 500 - Fallers Juniper Networks Inc. (JNPR) $27.76 -6.25% Alcoa Corporation (AA) $41.50 -4.13% American Tower Corp (Reit) (AMT) $143.96 -3.17% Micron Technology Inc. (MU) $42.39 -3.09% Urban Outfitters Inc. (URBN) $31.12 -3.02% Bed Bath & Beyond Inc. (BBBY) $22.39 -2.91% Target Corp. (TGT) $59.90 -2.87% Western Digital Corp. (WDC) $78.86 -2.64% Under Armour Inc. Class A (UAA) $13.28 -2.35% Celgene Corp. (CELG) $100.83 -2.22% Nasdaq 100 - Risers Costco Wholesale Corp. (COST) $184.43 3.89% Express Scripts Holding Co (ESRX) $65.18 3.69% Paypal Holdings Inc (PYPL) $75.73 3.39% Incyte Corp. (INCY) $98.99 3.16% Biomarin Pharmaceutical Inc. (BMRN) $85.80 3.04% Mercadolibre Inc. (MELI) $275.14 2.78% Adobe Systems Inc. (ADBE) $181.47 2.61% American Airlines Group (AAL) $50.49 2.52% Cintas Corp. (CTAS) $157.44 2.41% CSX Corp. (CSX) $55.75 2.41% Nasdaq 100 - Fallers Liberty Global Plc Lilac Class A (LILA) $20.80 -4.24% Liberty Global Plc Lilac Class C (LILAK) $20.75 -3.35% Micron Technology Inc. (MU) $42.39 -3.09% Western Digital Corp. (WDC) $78.86 -2.64% Celgene Corp. (CELG) $100.83 -2.22% Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $54.16 -2.04% Dentsply International Inc. (XRAY) $67.01 -1.97% Charter Communications Inc. (CHTR) $326.21 -1.65% Tractor Supply Company (TSCO) $68.24 -1.61% Top of the stocks Number of Deals Bought Place EPIC Equity name % 1 CNA Centrica plc 4.98 2 CLLN Carillion plc 2.62 3 GSK GlaxoSmithKline plc 1.69 4 SMT Scottish Mortgage Investment Trust 1.63 5 LLOY Lloyds Banking Group plc 1.40 6 BAB Babcock International Group 1.36 7 VRS Versarien plc 1.20 8 BOO Boohoo.com 1.08 9 NG. National Grid 1.03 10 XBT Provider AB 1.02 Number of Deals Sold Place EPIC Equity name % 1 LLOY Lloyds Banking Group plc 1.58 2 CLLN Carillion plc 1.53 3 EZJ easyJet plc 1.24 4 PFC Petrofac 1.12 5 RMG Royal Mail PLC 1.09 6 VRS Versarien plc 1.06 7 CNA Centrica plc 1.04 8 TSCO Tesco plc 1.03 9 GGP Greatland Gold Plc 0.97 10 BOO Boohoo.com 0.95 Newspaper Round Up Friday newspaper round-up: Productivity, Opec, Stagecoach, IAG, RBS Raising productivity is a far bigger economic challenge for Britain than Brexit, senior officials at the Office for Budget Responsibility said yesterday as they hit back at allegations of bias. Leave supporting politicians have accused the office of producing excessively gloomy forecasts that cast Brexit in a bad light but Robert Chote, chairman of the government’s fiscal watchdog, said the claims were “without any foundation whatsoever”. - The Times The world's major oil producers have extended production cuts through to the end of 2018, in a bid to tackle a global glut of crude and keep prices buoyant. Members of Opec, the oil cartel, and other major producers including Russia agreed that the curbs, which started in January and have lifted a barrel of Brent crude from $40 to $50 last year to more than $60 now, will continue for a further nine-months. - Guardian Britain cannot afford to borrow more without jeopardising the country's financial stability, a senior Bank of England official has warned. Richard Sharp said the Government had already borrowed an extra £1 trillion since the 2008 financial crisis. - Telegraph Labour has accused the transport secretary of misleading parliament over the early termination of the East Coast rail franchise as it emerged that the operator, Stagecoach, had been due to pay the Treasury more than £2bn in the final four years of its contract. A new rail strategy announced by Chris Grayling on Wednesday contained plans to replace the Virgin Trains East Coast (Vtec) contract running to September 2023 with a model of a partnership between track and train operators from 2020. - Guardian The London Stock Exchange has been forced to set out the rationale for the departure of chief executive, Xavier Rolet, citing his "operating style" and questions from shareholders about how long he intended to stay. The exchange provided the explanation in a 20-page circular setting the date for the shareholders' meeting demanded by an activist investor which wants to oust the company's chairmanover his handling of Rolet's departure. - Guardian British Airways owner IAG is reportedly considering once again bidding for Austrian airline Niki, as Lufthansa faces pushback from competition authorities over its purchase. Lufthansa signed a €210m (£184m) deal to buy half of the assets of collapsed carrier Air Berlin in October, which included the Niki and LG Walter businesses, together with around 20 planes. - Telegraph The Serious Fraud Office has charged a pair of oil executives at services group SBM Offshore with fraud as its probe into the Unaoil corruption scandal rolls on. The SFO's latest charges are against Paul Bond and Stephen Whiteley for conspiracy to make corrupt payments to the controversial Monaco-based "middleman" to secure engineering contracts. - Telegraph Royal Bank of Scotland has closed its "bad bank" which was set up to handle toxic loans after the financial crisis. It marks another milestone for RBS, which has made profits in its past three quarters and is gearing up for the government to sell more of its shares. - The Times Lloyds has made a breakthrough in its efforts to deal with the aftermath of one of Britain's biggest financial frauds, agreeing a settlement with the couple who played a critical role in uncovering the scam. The bank said its long-running dispute with Paul and Nikki Turner, who were among scores of small business owners who lost their livelihoods to a group of corrupt bankers and consultants, had been fully resolved and that it was sorry for the significant personal distress that the couple had suffered. - The Times Nightclub owner Deltic has reignited its advance on rival Revolution Bars after its merger attempt was spurned earlier this year. Deltic, which owns 57 clubs under brands including PRYZM and Fiction, was knocked back last month by Revolution's board, which at the time was trying to see through a £100m approach by Slug & Lettuce owner Stonegate. - Telegraph Labour leader Jeremey Corbyn said Morgan Stanley was right to regard him as a threat, accusing the US bank of being part of the same "speculators and gamblers who crashed our economy in 2008". In a video posted on social media, he also promised a new approach to financial services regulation. "Nurses, teachers, shopworkers, builders, just about everyone is finding it harder to get by, while Morgan Stanley's CEO paid himself £21.5m last year and UK banks paid out £15bn in bonuses," Corbyn said. - Guardian G20 nations have thrashed out a deal to tackle massive over-capacity in the global steel industry that was the root cause of the crisis in the UK sector two years ago, costing thousands of British jobs. Ministers from the world's leading nations have agreed a deal aimed at removing excess steel production capacity. - Telegraph The British Business Bank has stepped in to support a new technology fund after the EU's investment agency denied it cash in the wake of last year's Brexit vote. Episode 1 Ventures, an early-stage tech investor set up by Simon Murdoch, the entrepreneur who launched Amazon in the UK, has raised £60m to launch its new fund. - Telegraph A third of new cars will run on either plug-in hybrid power or pure electric batteries within five years, according to industry research. With these vehicles currently making up just 5 per cent of new sales, it suggests an acceleration in hybrid and electric vehicles amounting to annual growth of more than 40 per cent. - The Times The Adani Group is likely to again have to answer allegations it siphoned more than US$600m (£445m) into overseas tax havens after senior Indian finance authorities recommended an appeal of a judgment clearing the mining giant. The Indian finance secretary has confirmed to local media the August decision clearing the Adani Group had been reviewed by senior officials in November who ordered an appeal to be lodged by 14 December. - Guardian US diplomats have dropped plans for Donald Trump to conduct a visit to Britain in January amid a war of words between the two countries' leaders. Mr Trump, the US president, had been penciled in for a 'working visit' in the first month of 2018 to formally open America's new London embassy. - Telegraph The main lender to Four Seasons Health Care has urged the troubled care homes operator to agree to a debt standstill before an interest payment deadline threatens to push it into administration. H/2 Capital Partners, the dominant owner of Four Seasons's £525m bonds, said it had offered a deferral on a £26m bill due on December 15. It urged immediate action to take the pressure off stalled restructuring discussions. - Telegraph The boss of Fortnum & Mason says the world famous London store is struggling to recruit staff after the Brexit vote with the situation most acute in its restaurants. Fortnum's chief executive, Ewan Venters, said one in five of the chef posts across its six restaurants were unfilled as the fall in sterling's value and concerns about anti-migrant attitudes deterred applicants. - Guardian   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