Morning Euro Markets Bulletin

ADVFN III Morning Euro Markets Bulletin Daily world financial news Thursday, 29 August 2013 10:43:47 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts  Stocks rebound after recent falls, Vodafone jumps Strong gains from Vodafone, WPP and Melrose gave markets in London a boost this morning, as stocks rebounded after some recent falls. Markets have been under pressure this week on concerns about a potential Western military intervention in Syria in response to last week's alleged chemical weapons attack that killed over a thousand civilians. The risk of disruptions to oil supplies in the Middle East has sparked a surge in crude prices West Texas futures jumped to its highest level in over two years yesterday which is beginning to erode growth prospects for the global economy. "European markets opened firmly today as investors finished taking as much risk out of their portfolios as they could bear. However, volumes are once again proving painfully thin as many seem to be adopting a wait-and-see-strategy over whether the West will confirm military intervention in Syria," said Financial Trader Shavaz Dhalla from Spreadex. Investors seem to be rattled by reports that energy giants China and Russia have openly expressed their concerns over a military strike whereas the UK and the US have not made a categorical stance regarding their positions." Markets will have their hands full in terms of economic data on Thursday, with a number of closely-watched indicators due for release during today's session, including German unemployment, German inflation, US growth estimates and US jobless claims. FTSE 100: Vodafone surges as talks resume with Verizon Telecoms group Vodafone was a high riser this morning after confirming that it has restarted talks with partner Verizon about the possibility of selling its 45% stake in their US joint venture, Verizon Wireless. Advertising and media giant WPP was also making decent gains after revealing a 19% increase in half year pre-tax profit as slowing growth rates among emerging markets were eclipsed by a strong performance among mature markets like North America and the UK. Engineering investment firm Melrose Industries saw revenues top the £1bn mark in the first half as results were boosted by Elster - the gas, electricity and water measurement business it acquired last year. Shares rose strongly early on. Airline peers IAG and easyJet were higher this morning, rebounding as oil prices edged lower. The recent surge in crude has sparked worries over rising jet fuel costs for the travel industry. Leading the downside was outsourcing group Serco after it was revealed that it is under investigation by the City of London police in regards to a "misreporting of data" by a number of employees. Serco said it will forgo any future profits on the £285m contract. Investors were largely ignoring a strong first-half report by the company this morning which showed a 10.5% rise in first-half adjusted profits. Insurance firm Admiral was also lower after its first-half results as markets were underwhelmed by a 6% rise in profits and an 8% increase in the interim dividend. Falling metal and oil prices were hitting resource stocks this morning with Fresnillo, Randgold, Shell and Tullow Oil among the worst performers. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. FTSE 100 - Risers Vodafone Group (VOD) 207.20p +9.46% Melrose Industries (MRO) 295.10p +3.76% WPP (WPP) 1,220.00p +3.57% International Consolidated Airlines Group SA (CDI) (IAG) 296.00p +3.14% Travis Perkins (TPK) 1,599.00p +2.57% easyJet (EZJ) 1,243.00p +2.56% Wolseley (WOS) 3,304.00p +2.54% BT Group (BT.A) 328.60p +1.73% Whitbread (WTB) 3,120.00p +1.63% Aberdeen Asset Management (ADN) 353.30p +1.46% FTSE 100 - Fallers Serco Group (SRP) 547.50p -9.73% Fresnillo (FRES) 1,242.00p -3.57% Randgold Resources Ltd. (RRS) 5,050.00p -2.79% Pearson (PSON) 1,292.00p -1.82% Tullow Oil (TLW) 1,011.00p -1.46% Royal Dutch Shell 'B' (RDSB) 2,193.00p -1.26% Royal Dutch Shell 'A' (RDSA) 2,103.50p -1.24% BG Group (BG.) 1,252.50p -1.18% G4S (GFS) 249.50p -1.15% Eurasian Natural Resources Corp. (ENRC) 225.00p -1.14% FTSE 250 - Risers Evraz (EVR) 132.30p +6.09% Thomas Cook Group (TCG) 139.90p +5.51% Soco International (SIA) 400.10p +3.65% Stagecoach Group (SGC) 317.60p +3.32% Keller Group (KLR) 1,136.00p +2.81% Dixons Retail (DXNS) 41.96p +2.54% Mitchells & Butlers (MAB) 424.20p +2.44% JPMorgan Indian Inv Trust (JII) 288.70p +2.27% Rotork (ROR) 2,760.00p +2.26% Dunelm Group (DNLM) 954.00p +2.09% FTSE 250 - Fallers Hochschild Mining (HOC) 226.40p -3.66% African Barrick Gold (ABG) 173.60p -3.50% Menzies(John) (MNZS) 746.50p -2.42% Ferrexpo (FXPO) 168.50p -2.32% Polymetal International (POLY) 685.00p -1.86% Lonmin (LMI) 344.30p -1.66% Alent (ALNT) 357.80p -1.65% Kazakhmys (KAZ) 303.70p -1.62% Xaar (XAR) 857.00p -1.44% Kenmare Resources (KMR) 26.62p -1.41% UK Event Calendar INTERIMS Admiral Group, Anglo Pacific Group, Aseana Properties Ltd., Bumi, Camellia, Cape, Churchill China, Co-operative Bank 9.25% Non-Cumulative Irrd Preference 1, Eurasia Drilling Co Ltd GDR (Reg S), Evraz, Hansteen Holdings, Hardy Oil & Gas, Hellermanntyton Group, Hunting, IFG Group, Integra Group GDR (Each GDR Repr 2 A Com Shr) (RegS), International Public Partnerships Ltd., Irish Continental Group Units, Joint-Stock Company Russian Grid GDR Reg S , Lamprell, Lombard Medical Technologies, Macfarlane Group, Melrose Industries, Molins, office2office, Oxford Biomedica, Petropavlovsk, Playtech, Public Power GDR SA (Reg S), Salamander Energy, Serco Group, Soco International, Unite Group, Vislink, WPP, Xaar INTERIM DIVIDEND PAYMENT DATE Andor Technology, Reed Elsevier INTERNATIONAL ECONOMIC ANNOUNCEMENTS Bloomberg Consumer Confidence (US) (14:45) Continuing Claims (US) (13:30) GDP (Preliminary) (US) (13:30) Initial Jobless Claims (US) (13:30) PMI Retail (EU) (09:00) PMI Retail (GER) (08:55) Unemployment Rate (GER) (08:55) GMS CAP-XX Ltd., Telekomunikacja Polska S.A GDR (Reg S) FINALS Hays ANNUAL REPORT Fastnet Oil & Gas AGMS Hellenic Carriers Ltd., Ten Alps, Ten Alps The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Stocks rise ahead of US, German data FTSE 100: 0.63% DAX: 0.37% CAC 40: 0.41% FTSE MIB: 0.67% IBEX 35: 0.11% Stoxx 600: 0.64% European stocks rebounded ahead of a deluge of economic data out in the US and Germany. In the US, gross domestic product figures on Thursday are expected to be revised to show the world’s biggest economy expanded more than initially reported. The report is likely to reveal a 2.2% annualised growth rate in the second quarter, instead of the 1.7% originally posted, consensus showed. US initial jobless claims will also be released for the week ending August 24th. Economists predict claims to come in 331,000, compared to 336,000 a week earlier. The data comes as the Federal Reserve weighs up whether to begin scaling back its $85bn per month in bond purchases. The central bank is anticipated to start trimming stimulus at its next policy meeting in September so long as it deems the economy has showed enough improvement. In Germany, the consumer price index for August is pegged to fall to 1.7% from the previous month’s 1.9%. Europe’s largest economy’s unemployment rate will also be unveiled and is expected to hold steady at 6.8% in August, while the number of jobless is forecast to drop by 5,000 compared to last month’s decline of 7,000. Meanwhile, economists predict Syria will continue to be a key driver of markets on Thursday as Western governments mull over military action. US leaders have accused the Syrian government of using chemical weapons against civilians last week in an attack that killed about 300 people. The US government has said it was ready to intervene with reports on Wednesday saying Obama had called on foreign leaders for support, which sent global stocks tumbling. Spain’s recession eases Spain’s recession eased in the second quarter as exports increased and domestic demand stabilised, the Madrid-based National Statistics Institute revealed. Exports were up 6% following a 3.8% fall in the previous quarter. Household spending contracted 0.1% from the three months through March when it shrank 0.5%. Gross domestic product declined 0.1% in the second quarter compared to a 1.6% drop last year. Vodafone in talks to sell Verizon Wireless stake Vodafone advanced after saying Verizon Communications is in talks to buy its stake in the Verizon Wireless venture. Carrefour SA surged after reporting a 4.9% increase in first-half profit. Serco Group slumped after confirming that the UK Ministry of Justice has called police over the misreporting of data by "a small number of employees" associated with Serco's Prisoner Escort and Custody Services contract. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report Oil producers give markets a boost as crude jumps Dow Jones: 0.33% Nasdaq: 0.40% S&P 500: 0.28% US markets registered decent gains on Wednesday with the Dow Jones rebounding after hitting a two-month low the day before as oil producers tracked crude prices higher. Stocks such as Chevron and Exxon Mobil were giving markets a boost as crude oil futures reached their highest level in over two years as nerves about the crisis in Syria kept the spotlight on potential supply disruptions in the Middle East. West Texas crude oil for October delivery rallied $1.09 or 1% to settle at $110.10 a barrel on the New York Mercantile Exchange. Prices added to Tuesday's near 3% surge, despite the latest US data showing a surprise increase in crude supplies over the last week. Crude oil prices have been pushed 4% higher in the last two days as the US and other nations condemn what is believed to be the use of chemical weapons on rebels by Syria's government. Earlier in the week US Secretary of State John Kerry said Syria would be held accountable for the "moral obscenity" of an alleged chemical weapons. US Vice President Joe Biden said there is "no doubt" that the Syrian government used chemical weapons and it must be held accountable. "A further rise in oil prices would threaten to turn a lacklustre global recovery into something approaching stagnation,” said Chief Global Economist Julian Jessop from Capital Economics. “However, the ‘worst-case’ scenario of significant disruption to energy supplies from the region still seems highly unlikely,” he said. Housing-market data disappoints The National Association of Realtors’ pending home sales index for the month of July unexpectedly fell by 1.3% month-on-month in July, worse than the 0.4% decline the month before. The consensus forecast was for no change from June. Meanwhile, the mortgage bankers’ association weekly mortgage application index fell by 2.5% last week, though this was an improvement from the 4.6% decline the week before. Corporate movers Housebuilders PulteGroup and DR Horton were in the red after the poor housing-market figures. Shares of digital-video recorder maker TiVo were on the rise after the firm reported a second-quarter net income of $268.9m, compared with a loss of $27m the year before. Wireless communications firm Avago Technologies jumped after reporting third-quarter results that beat consensus estimates. Jewellery retailer Zale was also a high riser after fourth-quarter revenues came in ahead of forecasts. Tech stocks were performing well this morning with Groupon, Netflix and Apple giving the Nasdaq a lift. S&P 500 - Risers Goodyear Tire & Rubber Co. (GT) $19.84 +4.37% Marathon Oil Corp. (MRO) $34.60 +3.65% Pioneer Natural Resources Co. (PXD) $176.77 +3.31% Cablevision Systems Corp. (CVC) $17.90 +2.93% Gilead Sciences Inc. (GILD) $60.44 +2.89% Cameron International Corp. (CAM) $57.88 +2.82% Hewlett-Packard Co. (HPQ) $22.61 +2.82% Netflix Inc. (NFLX) $283.36 +2.65% Xerox Corp. (XRX) $9.92 +2.59% Chevron Corp. (CVX) $121.81 +2.53% S&P 500 - Fallers Tiffany & Co. (TIF) $77.25 -4.42% J.C. Penney Co. Inc. (JCP) $12.76 -3.11% Lorillard Inc. (LO) $42.07 -2.62% Newmont Mining Corp. (NEM) $31.34 -2.40% Tyson Foods Inc. (TSN) $28.45 -2.30% Molson Coors Brewing Co. Class B (TAP) $48.44 -2.10% Lennar Corp. Class A (LEN) $31.62 -2.01% CF Industries Holdings Inc. (CF) $189.89 -1.84% AGL Resources Inc. (GAS) $43.98 -1.72% Carnival Corp. (CCL) $35.97 -1.64% Dow Jones I.A - Risers Hewlett-Packard Co. (HPQ) $22.61 +2.82% Chevron Corp. (CVX) $121.81 +2.53% Exxon Mobil Corp. (XOM) $88.84 +2.33% McDonald's Corp. (MCD) $96.08 +1.31% Home Depot Inc. (HD) $75.03 +1.23% Pfizer Inc. (PFE) $28.21 +0.77% Coca-Cola Co. (KO) $38.35 +0.52% Intel Corp. (INTC) $22.28 +0.42% Johnson & Johnson (JNJ) $86.53 +0.42% 3M Co. (MMM) $113.00 +0.24% Dow Jones I.A - Fallers Procter & Gamble Co. (PG) $76.85 -1.44% Verizon Communications Inc. (VZ) $46.56 -0.83% Microsoft Corp. (MSFT) $33.02 -0.72% Wal-Mart Stores Inc. (WMT) $72.38 -0.66% AT&T Inc. (T) $33.58 -0.33% International Business Machines Corp. (IBM) $182.16 -0.32% Caterpillar Inc. (CAT) $82.45 -0.30% Cisco Systems Inc. (CSCO) $23.44 -0.17% Merck & Co. Inc. (MRK) $47.09 -0.04% JP Morgan Chase & Co. (JPM) $50.58 -0.04% Nasdaq 100 - Risers Avago Technologies Ltd. (AVGO) $38.28 +4.72% Green Mountain Coffee Roasters Inc. (GMCR) $86.66 +3.23% Gilead Sciences Inc. (GILD) $60.44 +2.89% Baidu Inc. (BIDU) $138.98 +2.86% Netflix Inc. (NFLX) $283.36 +2.65% Facebook Inc. (FB) $40.55 +2.29% Cognizant Technology Solutions Corp. (CTSH) $73.78 +2.20% Sandisk Corp. (SNDK) $55.02 +1.83% Alexion Pharmaceuticals Inc. (ALXN) $107.56 +1.76% Western Digital Corp. (WDC) $62.46 +1.66% Nasdaq 100 - Fallers Nuance Communications Inc. (NUAN) $18.50 -2.01% Costco Wholesale Corp. (COST) $110.46 -1.08% Randgold Resources Ltd. Ads (GOLD) $78.08 -0.89% Charter Communications Inc. (CHTR) $120.00 -0.83% Sigma-Aldrich Corp. (SIAL) $82.26 -0.75% Whole Foods Market Inc. (WFM) $51.48 -0.73% Microsoft Corp. (MSFT) $33.02 -0.72% Liberty Interactive Corp (LINTA) $22.27 -0.71% Kraft Foods Group, Inc. (KRFT) $51.57 -0.71% Applied Materials Inc. (AMAT) $14.97 -0.69% Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Thursday newspaper round-up Vodafone, Brazil, Serco... The Telegraph writes that Verizon has resumed discussions about buying Vodafone's stake in their US joint venture for over 100bn dollars. The paper cites City analysts as saying that the deal could create an 'unrivalled war chest' for the UK telecoms group for making acquisitions, wiping off debt and delivering payouts to shareholders. The Brazilian central bank has raised interest rates for the fourth time since April, reports the Financial Times, in a move to "restore investors' confidence in Latin America's biggest economy". The benchmark Selic rate was hiked by 50 basis points to 9%. The Guardian writes that Serco is under investigation by City of London police over alleged fraud in relation to a £285m contract to transport prisoners to and from courts across the capital and East Anglia. The Co-operative Group reported a first-half loss of £559m due to £496m of writedowns at its troubled banking business. The Co-Op Bank itself reported a pre-tax loss of £709m. The Scotsman cites the latest industry data from Kantar WorldPanel which showed that Sainsbury, Britain's third-largest grocer, grew sales by 4.9% in the 12 weeks to August 18th, outperforming its rivals as it boosted market share from 16.4% to 16.5%. Others in the 'Big Four', Tesco, Asda and Morrisons, all lost market share. The private-equity owners of Burton's Biscuit Company have put the Jammie Dodgers and Maryland Cookies owner up for sale in an auction that could fetch £350m, according to The Times.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 28 August 2013 17:36:16 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Markets finish lower despite late rally Markets rallied in afternoon trade on Wednesday, helped by dovish remarks from Bank of England Governor Mark Carney and a decent start on Wall Street, but stocks still finished in the red as escalating concerns about Syria continued to dampen sentiment. The FTSE 100 finished down 10.91 points at 6,430.06, well off its intraday low of 6,393.65. While the Syrian government has so far denied the use of chemical weapons, US Vice President Joe Biden has said there is “no doubt” that Syria carried out the attacks last week that killed well over a thousand people. White House spokesman Jay Carney said: “There must be a response […] What form that response will take is what the President is assessing now.” West Texas crude futures were trading at a two-year high of $112.24 a barrel today while Brent crude jumped to a six-month high of $117.34 on fears that the crisis in Syria could disrupt oil supplies from the Middle East. Markets are now concerned about how much further oil has to go and what impact elevated prices will have on the global economy. According to analysts at Societe Generale, Brent may jump as high at $150 a barrel if supplies are disrupted. Capital Economics analysts estimate that every $10 rise in the price per barrel of Brent could shave 20-30 basis points of global economic growth. “A rise to, say, $150, could therefore knock one percentage point off global growth, turning what is already a lacklustre recovery into something approaching stagnation.” Carney speech in focus Providing some support this afternoon were stocks in the banking sector after Mark Carney’s much-anticipated speech today, his first as BoE Governor. Carney relaxed strict liquidity requirements for UK banks that had passed a minimum capital threshold in an effort to encourage lending. In a relatively dovish speech at the University of Nottingham, Carney also attempted to reassure markets that a Bank Rate hike wouldn’t necessarily come as soon as unemployment hit the Monetary Policy Committee’s 7% target. Instead, he stressed that this level was not a trigger but just a guide. Households and businesses can operate in the “certainty that interest rates will not rise too soon”, he said. He also said that the possibility of further quantitative easing remains open under the BoE’s forward guidance plan and stimulus tools will be used if the economy needs a boost. Joe Rundle, Head of Trading at ETX Capital, said that Carney was “being a bit of a bear by reminding us that we shouldn’t get too excited too quickly about the current growth momentum we have seen in the UK this year because it’s clearly not strong enough”. FTSE 100: Oil and banking stocks on the up Oil producers were tracking crude prices higher today with BG Group, Royal Dutch Shell, Tullow and BP in demand on the FTSE 100. Oil strength however was having an adverse effect on airline stocks given concerns about how they will feed into jet fuel costs - IAG and easyJet were heavy fallers today.. Banking shares including RBS, Lloyds and Barclays were making gains this afternoon after Carney’s relaxed rules on liquidity requirements. Meggitt, the aerospace, defence and energy group, fell after unveiling plans to acquire Piezotech, a US ceramic devices producer, for $41.2m. A number of FTSE 100 stocks went ex-dividend today, meaning that new investors won't have access to the companies' latest payouts. These include: CRH, Glencore Xstrata, Legal & General, Tullow Oil and Wood Group. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. FTSE 100 - Risers Eurasian Natural Resources Corp. (ENRC) 227.60p +5.86% BG Group (BG.) 1,267.50p +4.75% G4S (GFS) 252.40p +2.89% Anglo American (AAL) 1,530.50p +2.20% Royal Dutch Shell 'B' (RDSB) 2,221.00p +2.02% Royal Dutch Shell 'A' (RDSA) 2,130.00p +1.79% Royal Bank of Scotland Group (RBS) 336.00p +1.79% Lloyds Banking Group (LLOY) 73.89p +1.73% Barclays (BARC) 284.55p +1.37% BP (BP.) 452.65p +1.24% FTSE 100 - Fallers International Consolidated Airlines Group SA (CDI) (IAG) 287.00p -4.49% Legal & General Group (LGEN) 187.40p -3.45% Randgold Resources Ltd. (RRS) 5,195.00p -2.62% Associated British Foods (ABF) 1,838.00p -2.60% Aggreko (AGK) 1,572.00p -2.24% GKN (GKN) 324.10p -2.20% Carnival (CCL) 2,431.00p -2.09% Shire Plc (SHP) 2,373.00p -2.02% Rolls-Royce Holdings (RR.) 1,092.00p -1.97% WPP (WPP) 1,178.00p -1.92% FTSE 250 - Risers African Barrick Gold (ABG) 179.90p +5.64% Hochschild Mining (HOC) 235.00p +5.33% Alent (ALNT) 363.80p +5.17% Xaar (XAR) 869.50p +4.76% EnQuest (ENQ) 127.20p +4.26% Enterprise Inns (ETI) 145.50p +4.08% Hansteen Holdings (HSTN) 99.00p +3.12% esure Group (ESUR) 243.50p +2.57% Soco International (SIA) 386.00p +2.52% Drax Group (DRX) 702.50p +2.33% FTSE 250 - Fallers Kenmare Resources (KMR) 27.00p -8.63% Berkeley Group Holdings (The) (BKG) 2,087.00p -6.16% Polymetal International (POLY) 698.00p -5.80% Halfords Group (HFD) 364.20p -5.60% Ashtead Group (AHT) 638.50p -4.42% Ferrexpo (FXPO) 172.50p -4.33% Countrywide (CWD) 565.00p -4.24% Henderson Group (HGG) 167.40p -3.90% Mondi (MNDI) 989.00p -3.79% Victrex (VCT) 1,566.00p -3.39% The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Syria crisis and Carney speech rattle markets FTSE 100: -0.11% DAX: -1.05% CAC 40: -0.25 FTSE MIB: 0.98% IBEX 35: 0.14 Stoxx 600: -0.38% European stocks were mixed as the tensions in Syria grew and as the Bank of England’s new Governor said the central bank could add more stimulus. Concerns over Syria mounted on Wednesday after the US said it was ready to launch military action in the troubled Middle Eastern country. UK Prime Minister David Cameron held talks on the situation at Downing Street after insisting that he West must not "stand idly by". The UK was due to put a resolution to the United Nations Security Council "authorising necessary measures to protect civilians" in Syria. While the UK, the US and France are behind military action, Russia and China is expected to block the efforts as the nations have previously vetoed resolutions critical of Syria. The reports pushed the price of Brent crude up by $1.329 to $115.90 per barrel and West Texas Intermediate futures up by $1.286 to $110.430 per barrel. “Once filtered through to the real global economy, the increase in oil prices will put a halt to the current pace of economic momentum we are currently experiencing in major parts of the world,” said Ishaq Siddiqi, Market Strategist at ETX Capital. “It’s plausible that Brent oil prices could be over $120 per barrel in the coming days – and, if oil prices spike even higher [above $130 per barrel], it wouldn’t be out of the question for the Federal Reserve to hold off on tapering stimulus measures this year.” BoE’s Carney does not rule out QE Bank of England Governor Mark Carney on Wednesday said the policymakers would add stimulus if investor expectations for higher interest rates rose too far and trampled recovery. In his first speech since taking over from Mervyn King, Carney reiterated his plan to keep interest rates at record lows until a 7% unemployment rate is achieved. He was optimistic about the UK's recovery but explained that the option of further stimulus remained part of the "forward guidance" announced earlier this month. Carney focused his remarks on unemployment, alluding to inflation concerns. “This announcement highlights the BoE’s proclivity to explore methods of stimulus other than QE [quantitative easing],” Barclays said. “Although QE is still part of the BoE’s toolkit, it can no longer be presumed to be the policy of first resort, and instead forms just one component of a 'mixed strategy' for securing the economic recovery.” The Governor also announced that rules on banks would be relaxed if they meet new capital requirements. Major UK lenders will be able to reduce their required liquid asset holdings by £90bn if the minimum 7% capital requirement is met. His remarks pushed banking stocks higher. US pending home sales, German confidence US pending home sales declined 1.3% in July, compared to a 0.4% fall in June, a report from the National Association of Realtors revealed. Economists had predicted no change in the data which signalled a slowing momentum in the housing market amid rising mortgage rates. Separately, German consumer confidence eased slightly from a six year high heading into September, according GfK figures. The GfK Consumer Confidence Survey’s forward-looking sentiment indicator fell to 6.9 going into September from 7 in the previous month. It was the highest level since before the global financial crisis and undercut forecasts for the reading to hold steady. Accor, Ryanair Accor declined after reporting first-half profit that fell short of analysts’ expectations. Ryanair Holdings slumped after UK regulators ordered the budget carrier to cut its stake in Aer Lingus Group to 5% from 30% due to concerns over hurting competition in Ireland. Polymetal International tumbled as the gold and silver miner posted a first-half net loss of $255m, compared with a $157m profit a year earlier. Bouygues advanced as the French contractor reported a 10% increase in second-quarter profit which exceeded forecasts. Meggitt retreated as the British aerospace and defence manufacturer agreed to pay $25m to resolve hundreds of possible export control violations the company uncovered in a review of operations dating back to the mid-1990s. Vestas Wind Systems rallied as Stoxx Ltd. said the company is among the 12 stocks that will be added to the Stoxx 600 as of September 23rd. Statoil gained after the Norweigan energy company made its third oil discovery off the coast of Canada in the Flemish Pass basin and Bank of America raised the stock to ‘buy’ from ‘neutral’. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report Markets rebound after heavy falls despite Syria fears US stocks edged higher on Wednesday morning in New York with the Dow Jones rebounding after hitting a two-month low the day before despite some disappointing figures from the housing market. Markets have fallen sharply over recent days on concerns over a possible US military intervention in Syria following last week’s alleged chemical weapons attack. The Dow and S&P 500 fell over 1% on Tuesday while the Nasdaq dropped over 2%. While the Syrian government has so far denied the use of chemical weapons, US Vice President Joe Biden has said there is “no doubt” that it carried out the attack and it must be held accountable. West Texas crude futures were trading at a two-year high of $112.24 a barrel this morning while Brent crude jumped to a six-month high of $117.34 on fears that the crisis in Syria could disrupt oil supplies from the Middle East. Markets are now concerned about how much further oil has to go and what the knock-on effect of elevated prices on the global economy will be. “A further rise in oil prices would threaten to turn a lacklustre global recovery into something approaching stagnation,” said Chief Global Economist Julian Jessop from Capital Economics. “However, the ‘worst-case’ scenario of significant disruption to energy supplies from the region still seems highly unlikely,” he said. The National Association of Realtors’ pending home sales index for the month of July unexpectedly fell by 1.3% month-on-month in July, worse than the 0.4% decline the month before. The consensus forecast was for no change from June. Meanwhile, the mortgage bankers’ association weekly mortgage application index fell by 2.5% last week, though this was an improvement from the 4.6% decline the week before. Shares of digital-video recorder maker TiVo were on the rise after the firm reported a second-quarter net income of $268.9m, compared with a loss of $27m the year before. Wireless communications firm Avago Technologies rocketed after reporting third-quarter results that beat consensus estimates. Jewellery retailer Zale was also a high riser after fourth-quarter revenues came in ahead of forecasts. Tech stocks were performing well this morning with Groupon, Netflix and Apple giving the Nasdaq a lift. Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Broker Tips African Barrick Gold: Nomura takes target from 155p to 250p and reiterates its buy recommendation. Antofagasta: Deutsche Bank cuts target from 1050p to 1035p and retains a hold recommendation. JP Morgan reduces target from 1005p to 975p, while its neutral rating remains unchanged. UBS ups target from 960p to 990p leaving its buy recommendation unaltered. Astra Zeneca: JP Morgan cuts target from 3400p to 3300p, while staying with its neutral rating. Berendsen: UBS revises target from 750p to 900p staying with its neutral rating. Big Yellow Group: Morgan Stanley increases target from 395p to 445p maintaining an equal-weight rating. British Land: Morgan Stanley ups target from 630p to 670p and reiterates an overweight rating. Bunzl: Berenberg takes target from 910p to 1050p, but still recommends selling. Capital & Counties Properties: Morgan Stanley takes target from 340p to 370p and retains an overweight rating. Chime Communications: Numis raises target to 380p and keeps a buy recommendation. Derwent London: Morgan Stanley increases target from 2450p to 2900p retaining an overweight rating. Great Portland Group: Morgan Stanley ups target from 610p to 670p and stays with its overweight rating. Hammerson: Morgan Stanley moves target from 530p to 540p and leaves its equal-weight rating unchanged. Intu Properties: Morgan Stanley lowers target from 310p to 300p keeping an underweight rating. Land Securities: Morgan Stanley takes target from 940p to 1020p reiterating an overweight rating. London Metric Property: Morgan Stanley shifts target from 102p to 113p, while leaving its underweight rating unaltered. Monitise: Berenberg initiates with a target of 70p and a buy recommendation. Pennon Group: JP Morgan moves target from 670p to 745p upgrading to overweight. Perform Group: Citi increases target from 430p to 550p reiterating a neutral rating. Severn Trent: JP Morgan ups target from 1520p to 1680p, while staying with its neutral rating. Shaftesbury: Morgan Stanley raises target from 590p to 680p, while downgrading to equal-weight. United Utilities: JP Morgan moves target from 720p to 750p and keeps a neutral rating. UNITE Group: Morgan Stanley ups target from 400p to 490p, while staying with its overweight rating.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Tuesday, 27 August 2013 17:56:21 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Syrian crisis hits stocks despite upbeat economic data Data showing improving confidence in Germany and the States wasn't enough to lift markets on Tuesday as investor sentiment was rattled by escalating tensions between Syria and the West. Business confidence in Germany improved across the board in August as the Eurozone's largest economy continues to build momentum. The IFO report, based on a survey of 7,000 German executives, came in better than expected this morning with the business climate, current assessment and expectations sub-indices all showing improvement month-on-month. Meanwhile, the index of US consumer confidence as measured by the Conference Board edged higher this month, surprising analysts who had expected a slightly decline. Investors however largely shrugged off the figures with markets cementing losses made in early trading. The FTSE 100 in London finished down 51.13 points at 6,440.97. Senior Market Analyst Michael Hewson from CMC Markets said: "The uncertainty being created by the potential for some form of military action in Syria, political uncertainty in Italy and the timing of a Fed tapering programme appears to have convinced a lot of people that the risks of getting involved in these markets somewhat outweighs any potential rewards, hence today's sharp falls." Oil gains on Syrian crisis Oil prices rose strongly today on concerns that heightened tensions in Syria could disrupt Middle East supplies. Brent crude for October delivery was trading at a six-month high of $113.97 a barrel (+2.93% on the day) by the close in London. US Secretary of State John Kerry said last night that Syria would be held accountable for the "moral obscenity" of an alleged chemical weapons attack that has killed well over a thousand people. "By any standard it is inexcusable," he said, sparking speculation of a potential US involvement in the Syrian crisis. Defense Secretary Chuck Hagel said that the US has "assets in place" and forces are "ready to go" if intervention is decided. Meanwhile, UK Prime Minister David Cameron cut his holiday short and recalled parliament to vote on possible response to last week's attack. Syrian Foreign Minister Walid al-Muallem responded by saying that the government - which has not yet claimed responsibility - wouldn't step down and its defences would "surprise" those wanting to step in. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. FTSE 100: Petrofac jumps on confident outlook Oilfield services group Petrofac surged today after saying it remains on track to deliver growth this year despite both revenues and profits slipping in the first half. The company reiterated that the full year would be significantly weighted to the second half as it delivered results that beat consensus forecasts on most fronts. Oil producers meanwhile were making gains as crude prices rose on the back of tensions in the Middle East. BP, Shell and BG Group were registering decent gains by the close. Investec was weighing on the share price of airline group IAG after downgrading the stock from 'buy' to 'hold' following its near-70% jump so far this year (as of Friday's closing price). The broker said that rising capacity and stubbornly-high fuel prices will act as headwinds for the industry in 2014. Royal Bank of Scotland slipped after the Financial Times reported that MPs were stepping up their campaign to split the lender into a 'good bank' and 'bad bank'. Antofagasta was also a heavy faller after reporting that revenues in the first half dropped 12.1% to $2.7bn, reflecting a decline in copper prices and increased costs. Precious metals peers Fresnillo and Randgold however were high risers as gold and silver prices edged higher. Retail firms M&S and Next were performing well after the stocks had their ratings upgraded by Citigroup and Bank of America, respectively. FTSE 250: Polymetal hit by broker downgrade While resource stocks such as Centamin, Premier Oil and African Barrick Gold tracked commodity prices higher today, precious metals group Polymetal was hit by a downgrade from HSBC to 'neutral'. In contrast, UBM was performing well after UBS lifted the media and events firm to 'buy', adding the stock to its 'Most Preferred' list. After a period of underperformance, the Swiss bank says that UBM's valuation is "too cheap". FTSE 100 - Risers Petrofac Ltd. (PFC) 1,373.00p +8.54% Fresnillo (FRES) 1,310.00p +7.11% Randgold Resources Ltd. (RRS) 5,335.00p +4.10% BG Group (BG.) 1,210.00p +2.37% Bunzl (BNZL) 1,376.00p +1.62% Marks & Spencer Group (MKS) 479.10p +1.59% Next (NXT) 4,990.00p +1.51% Royal Dutch Shell 'A' (RDSA) 2,092.50p +1.43% Morrison (Wm) Supermarkets (MRW) 296.90p +1.40% Royal Dutch Shell 'B' (RDSB) 2,177.00p +1.35% FTSE 100 - Fallers International Consolidated Airlines Group SA (CDI) (IAG) 300.50p -4.84% GKN (GKN) 331.40p -4.25% Royal Bank of Scotland Group (RBS) 330.10p -4.12% Aberdeen Asset Management (ADN) 352.00p -4.01% Eurasian Natural Resources Corp. (ENRC) 215.00p -3.85% TUI Travel (TT.) 343.90p -3.78% Wolseley (WOS) 3,230.00p -3.70% Standard Chartered (STAN) 1,437.50p -3.69% IMI (IMI) 1,451.00p -3.52% CRH (CRH) 1,358.00p -3.35% FTSE 250 - Risers Perform Group (PER) 520.50p +3.38% Premier Oil (PMO) 355.30p +3.25% Centamin (DI) (CEY) 41.00p +3.14% Genus (GNS) 1,490.00p +2.90% Ocado Group (OCDO) 298.70p +2.65% Alent (ALNT) 345.90p +2.61% African Barrick Gold (ABG) 170.30p +2.34% Menzies(John) (MNZS) 775.00p +2.31% Cranswick (CWK) 1,155.00p +2.12% Cairn Energy (CNE) 278.10p +1.94% FTSE 250 - Fallers Thomas Cook Group (TCG) 136.10p -8.47% Polymetal International (POLY) 741.00p -8.46% JPMorgan Indian Inv Trust (JII) 284.70p -7.32% Hochschild Mining (HOC) 223.10p -7.00% Imagination Technologies Group (IMG) 262.80p -5.67% Bank of Georgia Holdings (BGEO) 1,704.00p -4.75% Jupiter Fund Management (JUP) 341.10p -4.72% Bovis Homes Group (BVS) 757.00p -4.54% Spirent Communications (SPT) 124.20p -4.39% International Personal Finance (IPF) 584.00p -4.34% The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks fall as US mulls Syria invasion - US could invade Syria amid turmoil - US house prices increase at slower rate - US consumer confidence grows - German business sentiment rises - UK services sector expands FTSE: -0.72% DAX: -2.02% CAC 40: -2.12% FTSE MIB: -2.09% IBEX 35: -2.81% Stoxx 600: -1.68% European stocks were in the red amid reports Western countries could attack Syria within days. US Defence Secretary Chuck Hagel said troops in the world's biggest economy were ready to intervene after the Syrian regime was said to have used chemical weapons against civilians near Damascus on Wednesday. Sources who attended a meeting in Istanbul on Monday between Syrian opposition leaders, US diplomats and other governments told Reuters that rebels were advised to expect military action. The news comes after US Secretary of State John Kerry said President Obama would hold Syria's government under the Assad regime accountable for the attack. The White House confirmed Obama spoke to global leaders about possible international responses to the conflict. The US is said to be looking at ways to invade Syria without the approval of the United Nations, where Russia would likely veto any action. Syria's foreign minister Walid al-Moallem on Tuesday vowed the government would defend itself against any foreign attack. The Arab League "demands that all the perpetrators of this heinous crime be presented for international trials," according to a copy of the statement obtained by Reuters. Policymakers weigh Fed stimulus US policymakers continued to mull over the Federal Reserve's tapering of quantitative easing. The central bank is expected to start scaling back its $85bn per month in bond purchases at its next meeting in September so long as the economy shows enough improvement. Also weighing on markets was remarks from Treasury Secretary Jack Lew who said the US government will reach its debt limit by mid-October unless Congress acts quickly. The debt ceiling was last raised in January and the government can no longer borrow if the limit is reached, which is currently capped at $16.7tn US house prices grow at slower pace The S&P/Case-Shiller index of property values in 20 cities rose 12.1% in June from the same month in 2012 after rising 12.2% in the year ended in May, the biggest gain since March 2006 and in line with expectations. Separately, the Conference Board revealed US consumer confidence unexpectedly jumped in August as citizens grew more optimistic about the outlook for the economy. The sentiment index climbed to 81.5 from 81 in July, beating the consensus estimate of 79. In Germany, business sentiment increased in August as Europe's largest economy showed solid momentum. The Ifo indexes, based on a survey of 7,000 German executives, climbed to 107.5 from 106.2 in July. It was slightly higher than the 107 expected by economists. Meanwhile, the Confederation of British Industry also revealed that Britain's services sector grew at the fastest rate in business volumes since 2007 in the last quarter. Carmakers biggest fallers A gauge of carmakers slid including Renault, Porsche, Volkswagen, Daimler and Bayerische Motoren Werke. They were the biggest fallers on the Stoxx Europe 600 index. Antofagasta retreated after the miner reported a drop in first half profits due to falling copper prices. Petrofac's shares surged after the oilfield services company said it remains on track to deliver growth for the full year. Royal Bank of Scotland decreased following reports MPs were stepping up their campaign to have the bank split into a 'good bank' and 'bad bank'. Polymetal International plunged after HSBC Holdings downgraded the gold miner to 'neutral' from 'overweight'. UBM gained after UBS upgraded the publisher of InformationWeek to 'buy' from 'neutral'. Brent crude soars as Syria tension grows The Syrian crisis pushed Brent crude futures higher, up $2.826 to $113.960 per barrel on the ICE. The euro/dollar rose 0.16% to the 1.3389 dollar mark. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report Stocks fall on concerns over Syria, debt ceiling - John Kerry says Syrian attack 'inexcusable' - US to hit debt ceiling by mid-October - Durable goods disappoint Dow Jones: -0.43% Nasdaq: -0.01% S&P 500: -0.40% Wall Street stocks finished with moderate losses on Monday, erasing gains by the close of trade, as concerns over Syria and the US debt ceiling weighed on sentiment. US Secretary of State John Kerry said last night that Syria would be held accountable for the "moral obscenity" of the chemical weapons attack that has killed well over a thousand. “By any standard it is inexcusable,” he said. Senior Market Analyst Michael Hewson from CMC Markets said that the comments "raised concerns that some form of confrontation could be being considered".    Meanwhile, Treasury Secretary Jacob Lew was reported saying that the US government would reach the debt ceiling by mid-October unless Congress agrees to raise the limit. “Operating the government with no borrowing authority, and with only the cash on hand on a given day, would place the US in an unacceptable position,” Lew said. In other news, durable goods orders came in much worse than estimated, dropping by 7.3% in July following a revised 3.9% gain the month before. Analysts had expected a decline of just 4%. "Overall, given the renewed strength in the surveys the fall in orders could just be a temporary blip, particularly as orders have been fairly robust over the preceding few months," said Paul Ashworth, the Chief US Economist at Capital Economics. "Nevertheless, at the very least it is a reminder that the expected pick-up in economic growth in the second half of the year will be gradual." Drug manufacturer Amgen was a high riser after agreeing to buy Onyx for $10.4bn. Facebook was making gains, rising 2% to $41.34. This means that the social network's market cap surpassed $100bn for the first time. Meat processor Tyson Foods slid after Bank of America downgraded the stock from 'buy' to 'neutral' following a recent strong run. S&P 500 - Risers Amgen Inc. (AMGN) $113.75 +7.72% Big Lots Inc. (BIG) $34.02 +5.49% CH Robinson Worldwide Inc (CHRW) $58.83 +2.85% Peabody Energy Corp. (BTU) $18.25 +2.24% Celgene Corp. (CELG) $141.16 +2.09% Home Depot Inc. (HD) $75.43 +2.08% Best Buy Co. Inc. (BBY) $35.81 +2.08% Owens-Illinois Inc. (OI) $30.31 +1.78% Apollo Group Inc. (APOL) $18.82 +1.73% Alexion Pharmaceuticals Inc. (ALXN) $107.19 +1.64% S&P 500 - Fallers Tyson Foods Inc. (TSN) $29.17 -7.34% Archer-Daniels-Midland Co. (ADM) $34.50 -4.91% Expedia Inc. (EXPE) $47.20 -3.36% Autodesk Inc. (ADSK) $37.89 -2.62% Abercrombie & Fitch Co. (ANF) $37.78 -2.33% Visa Inc. (V) $175.00 -2.29% Hershey Foods Corp. (HSY) $93.36 -2.21% Tesoro Corp. (TSO) $47.96 -2.14% Campbell Soup Co. (CPB) $45.40 -2.13% McCormick & Co. (MKC) $68.77 -1.98% Dow Jones I.A - Risers Home Depot Inc. (HD) $75.43 +2.08% McDonald's Corp. (MCD) $95.31 +0.19% Alcoa Inc. (AA) $8.06 +0.12% Boeing Co. (BA) $105.53 +0.05% Dow Jones I.A - Fallers Procter & Gamble Co. (PG) $78.54 -1.84% Microsoft Corp. (MSFT) $34.15 -1.73% Verizon Communications Inc. (VZ) $46.94 -1.41% AT&T Inc. (T) $33.82 -1.37% Pfizer Inc. (PFE) $28.02 -1.13% Coca-Cola Co. (KO) $38.12 -1.04% Johnson & Johnson (JNJ) $87.53 -1.00% JP Morgan Chase & Co. (JPM) $51.80 -0.99% Intel Corp. (INTC) $22.27 -0.74% General Electric Co. (GE) $23.61 -0.71% Nasdaq 100 - Risers Amgen Inc. (AMGN) $113.75 +7.72% CH Robinson Worldwide Inc (CHRW) $58.83 +2.85% Regeneron Pharmaceuticals Inc. (REGN) $245.01 +2.58% Celgene Corp. (CELG) $141.16 +2.09% Avago Technologies Ltd. (AVGO) $37.48 +2.01% Facebook Inc. (FB) $41.34 +1.95% Alexion Pharmaceuticals Inc. (ALXN) $107.19 +1.64% Dollar Tree Inc (DLTR) $54.12 +1.56% Altera Corp. (ALTR) $35.15 +1.41% Gilead Sciences Inc. (GILD) $60.42 +1.31% Nasdaq 100 - Fallers Expedia Inc. (EXPE) $47.20 -3.36% Autodesk Inc. (ADSK) $37.89 -2.62% Mondelez International Inc. (MDLZ) $30.72 -1.93% Microsoft Corp. (MSFT) $34.15 -1.73% Nuance Communications Inc. (NUAN) $19.01 -1.55% Catamaran Corp (CTRX) $55.33 -1.51% Check Point Software Technologies Ltd. (CHKP) $56.89 -1.44% F5 Networks Inc. (FFIV) $85.86 -1.42% Kraft Foods Group, Inc. (KRFT) $52.08 -1.40% Amazon.Com Inc. (AMZN) $286.21 -1.31% Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Broker Tips Broker tips: IAG, M&S, Premier Foods Investec has downgraded its rating for British Airways owner International Airlines Group (IAG) from 'buy' to 'hold' after strong gains seen across the airlines sector since the start of the year. "European airlines have benefited from reduced capacity and a flattening of fuel prices in 2013. Strong yields have led to stellar trading for most airlines, driving a material sector re-rating," said analyst James Hollins. Looking forward in 2014, he said that rising capacity and stubbornly-high fuel prices will act as headwinds. HIgh Street giant Marks & Spencer (M&S) was performing well on Tuesday morning after Citigroup upgraded the stock from 'neutral' to 'buy' and lifted its target from 470p to 535p. "The combination of recent, material upgrades to UK economic growth forecasts, and M&S management initiatives have markedly improved the credibility of double-digit FY15 and FY16 M&S EPS [earnings per share] growth forecasts." Credit Suisse has lifted its recommendation for food manufacturer Premier Foods from 'neutral' to 'outperform' and raised its target from 100p to 155p. "Valuing a business that is structurally over-indebted where profit expectations are falling is nigh on impossible – a deteriorating profit outlook simply crushes the equity value (now only 17% of the enterprise value). However if the profits have stabilised and can even show some growth, then the reverse is true – the equity leverage into a profit upturn is material."   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49