ADVFN Newsdesk - Profit Taking Likely As Exuberance Wanes

ADVFN III World Daily Markets Bulletin Daily world financial news Thursday, 19 December 2013 10:31:22    Monitor Quote Charts News Toplists Forex Boards   Sponsored by: VectorVest Are you looking for guaranteed performance? Discover automated trading plans that make money year after year and tell you exactly when to buy, what to buy and when to sell. Click Here US Market The major U.S. index futures are pointing to a lower opening on Thursday, with sentiment reflecting apprehensions of traders after yesterday's Fed-induced rally. The first meaningful economic evidence released after the Fed announcement showed that jobless claims unexpectedly rose in the recent reporting week. Given the magnitude of yesterday's advance, some degree of pullback seems logical even as traders persist with economic hopes. U.S. stocks skyrocketed on Wednesday, cheering the FOMC announcement, as traders heaved a collective sigh of relief over the central bank's measured approach towards stimulus withdrawal. The major averages, which moved about in a nervous manner until the Fed announcement, rallied sharply for the rest of the session. The Dow Industrials ended up 292.71 points or 1.84 percent at a new record closing high of 16,168 and the S&P 500 Index also settled at a fresh record of 1,811 by virtue of its 29.65 points or 1.66 percent advance. The Nasdaq Composite Index added 46.38 points or 1.15 percent before settling at a fresh multi-year high of 4,070. Twenty-nine of the thirty Dow components rose in the session, while Boeing retreated modestly. Exxon Mobil , 3M Co.  JP Morgan Chase and Goldman Sachs were among the biggest gainers of the session. Biotechnology, retail, housing, Oil and financial stocks outperformed in the session, while Gold stocks bucked the uptrend. On the economic front, the Federal Reserve's policy announcement played out in line with expectations, with the central bank acknowledging the recent strong data and announcing a modest pullback in stimulus. Citing the improvement in the labor market and the brightening labor market outlook, the central bank said it would begin reducing its bond purchase program by a total of $10 billion per month beginning in January. The Fed will now buy agency mortgage-backed security at a pace of $35 billion per month and longer-term Treasury security at a pace of $40 billion per month. The real cheer for the markets came from the Fed's assurance that it will maintain the current extremely accommodative Fed funds rate of 0-0.25 percent well past the time the unemployment rate drops below 6.5 percent, provided inflation continues to run below its 2 percent longer term target. Earlier, the central bank had promised such an accommodative stance at least as long as the jobless rate remains above 6.5 percent. Meanwhile, the Fed's commentary on economic conditions was also altered slightly. While continuing to term the economy recovery as moderate, the central bank acknowledged the decline in the unemployment rate, although terming it as remaining elevated. The risks to the outlook for the economy and the labor market were seen to becoming more nearly balanced, while earlier the central bank pointed to diminishing downside risks. The updated FOMC forecasts did not show marked alteration to the central bank's GDP outlook. The central tendency GDP forecast for 2013 was adjusted to 2.2-2.3 percent from 2-2.3 percent and the unemployment rate forecast was adjusted to 7-7.1 percent from 7.1-7.3 percent. The Commerce Department reported that housing starts totaled 1.091 million units on a seasonally adjusted annual rate in November, ahead of expectations and the 889,000 reported for October. Single-family starts rose to 727,000 from 602,000, marking the highest level since May 2008. Building permits totaled 1.007 million units. The strong rally by The Dow Industrials in response to the Fed announcement took it past several key resistances and into unchartered territory. The 14-day relative strength index has just gone above the neutral zone and is currently at around 53. In the eventuality of the Fed euphoria fading and the markets coming to terms with realities, the index could retrace some of its gains. On the downside, the index has support around 16,095, 16,032, 15,968 and 15,876. Santa Monica Wiz Kid Makes $87 Million Trading Stocks Using his same strategy you can get crazy rich – fast! Click Here and Find Out How! US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts Following the substantial increase seen in the previous week, first-time claims for U.S. unemployment benefits unexpectedly saw some further upside in the week ended December 14th. The Labor Department released a report on Thursday showing that initial jobless claims climbed to 379,000, an increase of 10,000 from the previous week's figure of 369,000. The modest increase came as a surprise to economists, who had expected jobless claims to drop to 337,000 from the 368,000 originally reported for the previous week. Dallas Federal Reserve Bank President Richard Fisher is due to speak on the Texas economy in Dallas also at 8:30 am ET. The Philadelphia Federal Reserve is due to release the results of its regional manufacturing survey at 10 am ET. The consensus estimates call for an improvement in the index to 10 in December from 6.5 in November. Philadelphia region Manufacturing activity grew at a notably slower pace in November. The manufacturing index fell to 6.5 from 19.8 in October. The new orders index declined to 11.8 from 27.5 and the order backlogs fell to -4.2 from 9.1. Additionally, the shipments index plunged 15 points, the number of employees index moved down 14 points to 1.1 and the average workweek index declined 17 points to -8.6. The 6-month outlook index also dropped, falling to 45.8 from 60.8. The National Association of Realtors will also release its existing home sales report for November at 10 am ET. Economists expect existing home sales to come in at a seasonally adjusted annual rate of 5.020 million units compared to 5.12 million units in October. Existing home sales came in at a seasonally adjusted annual rate of 5.12 million units in October, down from 5.29 million units in September. Inventories measured in terms of months of supply rose to 5 months from 4.9 months. The median price of an existing home rose 12.8 percent year-over-year. First-time homebuyers accounted for 28 percent of the purchases, remaining below the historical trend. The Conference Board is due to release its leading economic indicators index for November at 10 am ET. The consensus estimates call for a 0.7 percent month-over-month increase by the index, faster than the 0.2 percent increase in October. The 0.2 percent increase in the leading economic indicators index for October followed an increase of the same magnitude in September and a 0.7 percent increase in August. The Conference Board noted that housing and manufacturing variables contributed to the upside. The coincident economic indicators index edged up 0.2 percent and the lagging economic indicators index was up 0.3 percent. Tomorrow's Technical Set-Ups & Resistance Levels Over 100K traders are using this free analysis email to prepare and plan for the next trading day This daily report will include: Extreme Market Movement Recaps, Technical Set-Ups & Resistance Levels, Key Daily Events and a Complete Sector Analysis. Learn more about this free report now! Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Oracle reported second quarter non-GAAP earnings of 69 cents per share on non-GAAP revenues of $9.3 billion, up 2 percent year-over-year. However, non-GAAP new software licenses and cloud software subscription revenues slipped 1 percent to $2.4 billion. The results were above estimates. Paychex reported second quarter earnings of 43 cents per share, up 5 percent year-over-year, while its total service revenues rose 7 percent to $600.5 million. The results were better than expected. Additionally, the company said it expects fiscal net income growth of 8-9 percent and total service revenue growth of 5-6 percent. Herman Miller reported second quarter adjusted earnings of 42 cents per share on net sales of $470.5 million, up 6.5 percent. The results came in ahead of expectations. Apogee reported third quarter earnings of 33 cents per share, up 18 percent year-over-year, while its revenues rose 5 percent to $199.4 million. The company narrowed its 2014 earnings outlook to 95 cents to $1 per share and forecast 10-11 percent revenue growth. The results trailed estimates, while the guidance was positive. Semtech announced a reduction to its fourth quarter guidance, citing the shortfall on ongoing delays in carrier capex spending and a 6-month push-out in the ramp of a new consumer mobile platform. The company now expects non-GAAP earnings of 18-24 cents per share, down from its previous projection of 29-37 cents per share. The company also lowered its net revenue guidance to $120 million to $130 million from $132 million to $144 million. The guidance trailed expectations. AutoZone said its board authorized the buyback of an additional $750 million of its common stock. MDU Resources increased its 2013 adjusted earnings per share guidance to $1.45-$1.50 from $1.35-$1.45, although it retained its GAAP earnings guidance in the same range. The company also noted that Standard & Poor's affirmed a BBB+ corporate credit rating and stable outlook. SM Energy said its board has approved a $1.9 billion capital program for 2014, up from $1.65 billion in 2013. The company also said it expects production to grow 16 percent year-over-year to 51 MMBOE to 53.3 MMBOE. AAR Corp. Cintas , NIKE , Red Hat and TIBCO Software are among the companies due to release their quarterly results after the close of trading. Trade Free for 60 Days at ETRADE Click here European Market European stocks opened higher and are seen broadly moving sideways, as traders react to the Fed decision. On the economic front, a report released by the U.K. Office for National Statistics showed that U.K. retail sales rose 0.3 percent month-over-month in November. The increase was in line with expectations. The European Central Bank reported that the eurozone's current account surplus increased to 21.8 billion euros in October from 14.9 billion euros in September. The increase reflected a wider trade surplus. No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade Asian Markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The major Asian markets closed on a mixed note, with the Chinese, Hong Kong, Malaysian and Indian markets retreating, while the rest of the major markets in the region advanced. Optimism over the Fed's accommodative stance triggered some buying even as domestic concerns weighed on some of the markets. The Japanese market was once again the beneficiary of a weaker yen, which retreated against the dollar in reaction to the Fed decision. Japan's Nikkei 225 average opened higher and moved roughly sideways for the rest of the session before closing up 271.42 points or 1.74 percent at 15,859. A majority of stocks advanced in the session, with retail and retail stocks leading the gains. Australia's All Ordinaries opened higher and advanced steadily throughout the session. The index ended 102.70 points or 2.01 percent higher at 5,202. The market witnessed broad based strength, with energy and material stocks outperforming the rest of the sectors. Hong Kong's Hang Seng Index closed at 22,889, down 255.07 points or 1.10 percent, and China's Shanghai Composite Index fell 20.49 points or 0.95 percent before closing at 2,128. On the economic front, Japan's Ministry of Economy, Trade and Industry reported that its index measuring all industry activity in Japan fell 0.2 percent month-over-month in October, reversing some of the 0.5 percent increase in September. Economists expected a steeper 0.3 percent drop. Revised estimates released by the Cabinet Office showed that its leading economic indicators index for Japan rose less than estimated. The index rose to 109.8 in October, up from 109.1 in September but representing a downward revision from the preliminary reading of 109.9. Currency and Commodities Markets Crude Oil futures are edging down $0.08 to $97.98 a barrel after advancing $0.58 to $97.80 a barrel on Wednesday. The previous session's advance came amid the increase in risk appetite and the release of the weekly petroleum status report, which showed that Crude oil stockpiles fell by 2.9 million barrels to 372.3 million barrels in the week ended December 13th. Inventories were above the upper limit of the average range. Distillate inventories declined by 2.1 million barrels and were below the lower limit of the average range. Meanwhile, gasoline stockpiles rose by 1.3 million barrels and were above the upper limit of the average range. Refinery capacity averaged 91.5 percent over the four weeks ended December 13th compared to 90.7 percent over the four weeks ended December 6th. Gold futures, which rose $4.90 to $1,235 an ounce in the previous session, are currently slipping $32 to $1,203 an ounce. Among currencies, the U.S. dollar is trading at 104.14 yen compared to the 104.28 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.3675 compared to yesterday's $1.3685.     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 III Morning Euro Markets Bulletin Daily world financial news Thursday, 19 December 2013 09:49:41 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Galvan 3 Superb Stocks to Buy BEFORE Christmas There is a small window of opportunity if you're quick! Click here for your FREE report. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Fed taper sparks 'Santa Rally' as stocks jump - Fed cuts monthly bond buying to 75bn dollars - Commits to near-zero rates, depending on inflation - Pharma peers AstraZeneca, GSK making gains techMARK 2,727.60 +1.12% FTSE 100 6,553.38 +0.94% FTSE 250 15,550.52 +1.20% UK markets opened around one per cent higher on Thursday morning in the aftermath of the Federal Reserve's decision to taper its quantitative easing programme, as investors welcomed the end to months of uncertainty. "This should in turn remove much of the volatility that we have seen in the final quarter of 2013, gearing us up for a delayed but eagerly anticipated 'Santa Rally' to finish this year in a bang and kick off the next year in an upbeat fashion," said Market Strategist Ishaq Siddiqi from ETX Capital. The Federal Reserve announced on Wednesday night that it would scale back its monthly bond-buying programme from $85bn to $75bn and said it would make similar moderate reductions in the future subject to incoming economic data. The news sent both the Dow Jones Industrial Average and S&P 500 to new record highs on Wall Street. Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that they would hold interest rates close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". "The action today is intended to keep the level of accommodation the same overall and to push the economy forward," said Chairman Ben Bernanke. "We are committed to doing what is necessary to getting inflation back to target." AstraZeneca jumps on BMS deal AstraZeneca was a high riser this morning after spending up to $4.1bn in Bristol-Myers Squibb's stake in their diabetes joint venture, giving the British company full ownership of intellectual property and global rights for a large portfolio of products. Fellow pharma group GlaxoSmithKline (GSK) also advanced after announcing yesterday evening that US regulators have approved Anoro Ellipta, its treatment for chronic obstructive pulmonary disease. Upside however was limited on the news that Denmark has approved the sale of a generic copy of GSK's biggest product, Advair. There were just a handful of fallers on the FTSE 100 early on, with mining peers Fresnillo and Randgold Resources among them as precious metals prices declined. Support services group Serco fell after warning that recent contract problems may hit its cash flow this year. However, it still said 2013 results were likely to meet market hopes. Financial stocks were mixed with RSA Insurance, Standard Chartered and HSBC trading lower, and Barclays, Resolution and Prudential among the best performers. Learn to trade the most liquid financial market in the world At our free workshop we will give you a proven strategy for you to apply straight away. Also for simply signing up you will receive a free 50 page e-book from a publish FX trader.  Book your place now  FTSE 100 - Risers Petrofac Ltd. (PFC) 1,122.00p +3.03% BAE Systems (BA.) 446.20p +2.79% Resolution Ltd. (RSL) 335.90p +2.50% Hammerson (HMSO) 502.50p +2.49% Standard Life (SL.) 348.60p +2.44% Persimmon (PSN) 1,196.00p +2.40% Land Securities Group (LAND) 949.50p +2.32% WPP (WPP) 1,328.00p +2.31% ITV (ITV) 185.40p +2.26% Prudential (PRU) 1,299.00p +2.20% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 3,820.00p -2.45% Fresnillo (FRES) 717.00p -1.38% Standard Chartered (STAN) 1,309.00p -0.76% HSBC Holdings (HSBA) 643.40p -0.76% RSA Insurance Group (RSA) 89.90p -0.72% United Utilities Group (UU.) 647.50p -0.46% Severn Trent (SVT) 1,674.00p -0.24% Sainsbury (J) (SBRY) 364.80p -0.08% Glencore Xstrata (GLEN) 306.50p -0.08% FTSE 250 - Risers Redrow (RDW) 308.00p +3.39% Close Brothers Group (CBG) 1,374.00p +3.31% Bovis Homes Group (BVS) 783.00p +2.96% Jupiter Fund Management (JUP) 377.30p +2.95% Supergroup (SGP) 1,401.00p +2.86% Henderson Group (HGG) 208.40p +2.86% Keller Group (KLR) 1,135.00p +2.81% Halfords Group (HFD) 451.60p +2.80% Shaftesbury (SHB) 613.50p +2.76% SEGRO (SGRO) 333.60p +2.71% FTSE 250 - Fallers African Barrick Gold (ABG) 155.00p -3.73% Serco Group (SRP) 437.50p -2.52% Polymetal International (POLY) 511.00p -1.26% Hochschild Mining (HOC) 125.10p -1.11% 888 Holdings (888) 159.50p -0.93% BH Macro Ltd. EUR Shares (BHME) € 19.81 -0.90% Diploma (DPLM) 704.50p -0.77% Barr (A.G.) (BAG) 568.00p -0.61% Cable & Wireless Communications (CWC) 52.30p -0.57% UK Event Calendar Thursday December 19 INTERIMS Goodwin Plc INTERIM DIVIDEND PAYMENT DATE PayPoint, Vedanta Resources QUARTERLY PAYMENT DATE Total SA INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (EU) (09:00) Bloomberg Consumer Confidence (US) (14:45) Continuing Claims (US) (13:30) Current Account (EU) (09:00) Existing Home Sales (US) (15:00) Initial Jobless Claims (US) (13:30) Philadelphia Fed Index (US) (15:00) ANNUAL REPORT Finsbury Growth & Income Trust, JPMorgan Asian Inv Trust SPECIAL EX-DIVIDEND PAYMENT DATE Canadian General Investments Ltd. EGMS Hayward Tyler Group, Plaza Centers NV AGMS British Empire Securities & General Trust, Chelverton Growth Trust, JPMorgan Elect Managed Cash Shares, JPMorgan Elect Managed Growth Shares, JPMorgan Elect Managed Income Shares, Power Capital Global Ltd., Rangers International Football Club, Schroder Income Growth Fund, Sylvania Platinum Ltd (DI), Westmount Energy Ltd. TRADING ANNOUNCEMENTS Keller Group, Serco Group UK ECONOMIC ANNOUNCEMENTS Internet Retail Sales (09:30) Retail Sales (09:30) FINAL DIVIDEND PAYMENT DATE GETECH Group, Goldplat Download your free Santa Rally report. Have you heard of the stock market phenomenon called the Santa Rally? The FTSE 100 has risen in 18 of the last 20 Decembers*. Download your free report showing a breaking down of what the average rise has been for the stocks within the FTSE over the month of December.  Losses can exceed deposits. * Past performance is no guarantee of the future Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rise after Fed announces tapering - Fed announces stimulus reduction - EU agrees banking deal FTSE 100: 1.01% DAX: 1.68% CAC 40: 1.67% FTSE MIB: 1.29% IBEX 35: 1.96% Stoxx 600: 1.53% European stocks rose after the Federal Reserve announced a scaling back of its monetary stimulus. The US central bank said it would reduce its monthly bond-buying programme from $85bn to $75bn last night after wrapping up its two-day policy meeting. The Fed also said it would make similar moderate reductions in the future, subject to incoming economic data. Policymakers predicted the jobless rate - currently at 7% - will drop to around 6.5% by the end of 2014. However, they stressed that they would hold interest rates close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". "The decision to taper went against our expectation of no change in the policy stance, but we had been highlighting that the incoming data since the September meeting raised the risk of a tapering in December and we felt the decision was close to a coin toss entering the meeting," said Analyst Michael Gapen from Barclays. EU agrees blueprint for failing banks Eurozone finance minsters this morning agreed a blueprint to close failing banks. However, they held back on a plan for the Eurozone to unit in tackling its struggling lenders. The deal aims to prevent a repeat of the turmoil when failing banks in countries from Ireland to Cyprus brought their states to the brink of bankruptcy. European leaders will sign off on the deal and the final details will be made in negotiations with the European Parliament next year. Amadeus climbs Amadeus advanced after the Spanish travel-reservations company forecast 2013 revenues and earnings that beat analysts' estimates. Saab gained after the Swedish maker of Gripen jets beat Boeing Co. and Dassault Aviation SA to win the contract to supply 36 jet fighters to Brazil. Algeta surged after Bayer AG said it will buy the drugmaker for about 17.6bn kroner, a price that topped a preliminary offer. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report US close: Markets hit new records as Fed scales back QE - Fed cuts monthly asset purchases to 75bn dollars - Commits to near-zero rates, dependent on inflation - Housing starts beat expectations for November Dow Jones: 1.84% Nasdaq: 1.15% S&P 500: 1.67% US stocks rocketed on Wednesday after the Federal Reserve moved to scale back quantitative easing, ending months of uncertainty for financial markets worldwide. The news sent the Dow Jones Industrial Average up 1.84% to a record 16,167.97 and the S&P 500 up 1.68% to an all-time high of 1,810.65. The Nasdaq, meanwhile, jumped 1.15% to 4,070.06. The Federal Reserve announced that it would scale back its monthly bond-buying programme from $85bn to $75bn and said it would make similar moderate reductions in the future subject to incoming economic data. "The action today is intended to keep the level of accommodation the same overall and to push the economy forward," said Chairman Ben Bernanke. "We are committed to doing what is necessary to getting inflation back to target." Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that they would hold interest rates close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". In other news, a report on housing starts rose more than expected to a seasonally adjusted annual rate of 1.09m in November from 889,000 the previous month. This 22.7% gain was the fastest pace recorded since early 2008, beating the 950,000 housing starts expected by analysts. US mortgage applications fell by 5.5% in the week to December 13th, compared to an increase of 1% the prior week, according to data from the Mortgage Bankers' Association. Ford drops on US outlook Auto major Ford was a heavy faller in morning trade after saying that profits will fall in 2014 due to the cost of bringing 23 new vehicle models to market – it's busiest year for new vehicle launches in history. The company said it would earn $7-8bn next year, down from an expected $8.5bn in 2013. Banking stocks performed well on Wednesday with JPMorgan Chase & Co, Goldman Sachs, Bank of America and Citigroup registering decent gains by the close. Tech group Apple was trading lower after reported supplier Jabil disappointed investors with its first-quarter earnings and second-quarter guidance. Citigroup said that Jabil's guidance for a drop in sales from its diversified manufacturing services division could suggest a fall in iPhone production. Lennar advanced as the US homebuilder reported a rise in net income in the three months through November that beat analysts' expectations. Sector peers DR Horton and PulteGroup were also higher. Halozyme gained as the biopharmaceutical company named Helen Torley as its Chief Executive and President to replace Gregory I. Frost. VeriFone Systems declined as the maker of credit-card terminals said it expected adjusted per-share earnings of $1.35-$1.40 this year, compared with a forecast of $1.56. S&P 500 - Risers D. R. Horton Inc. (DHI) $20.11 +6.35% Lennar Corp. Class A (LEN) $37.43 +6.34% Quanta Services Inc. (PWR) $30.64 +5.04% Gilead Sciences Inc. (GILD) $73.59 +5.01% Vertex Pharmaceuticals Inc. (VRTX) $68.63 +4.65% Alexion Pharmaceuticals Inc. (ALXN) $128.65 +4.54% Janus Capital Group Inc. (JNS) $11.57 +4.42% CVS Caremark Corp. (CVS) $69.69 +4.31% Weyerhaeuser Co. (WY) $31.39 +4.29% Abbott Laboratories (ABT) $38.12 +4.12% S&P 500 - Fallers Jabil Circuit Inc. (JBL) $15.67 -20.54% Ford Motor Co. (F) $15.65 -6.29% Micron Technology Inc. (MU) $21.81 -4.84% Ensco Plc. (ESV) $56.07 -3.36% Frontier Communications Co. (FTR) $4.69 -1.88% Garmin Ltd. (GRMN) $45.79 -1.67% Western Digital Corp. (WDC) $82.10 -1.56% EQT Corp. (EQT) $84.64 -1.40% Sears Holdings Corp. (SHLD) $43.95 -1.12% Cameron International Corp. (CAM) $58.02 -1.12% Dow Jones I.A - Risers 3M Co. (MMM) $135.80 +3.36% Exxon Mobil Corp. (XOM) $99.54 +2.88% JP Morgan Chase & Co. (JPM) $57.24 +2.73% Goldman Sachs Group Inc. (GS) $174.84 +2.55% Chevron Corp. (CVX) $121.60 +2.41% Coca-Cola Co. (KO) $40.02 +2.35% Nike Inc. (NKE) $78.55 +2.33% American Express Co. (AXP) $85.99 +2.24% Johnson & Johnson (JNJ) $92.64 +2.18% Walt Disney Co. (DIS) $72.20 +2.18% Dow Jones I.A - Fallers Boeing Co. (BA) $135.49 -0.29% Nasdaq 100 - Risers Gilead Sciences Inc. (GILD) $73.59 +5.01% Vertex Pharmaceuticals Inc. (VRTX) $68.63 +4.65% Alexion Pharmaceuticals Inc. (ALXN) $128.65 +4.54% Regeneron Pharmaceuticals Inc. (REGN) $271.72 +3.76% Biogen Idec Inc. (BIIB) $280.64 +3.41% Discovery Communications Inc. Class A (DISCA) $86.29 +3.08% Monster Beverage Corp (MNST) $65.16 +2.79% Staples Inc. (SPLS) $15.62 +2.63% Cognizant Technology Solutions Corp. (CTSH) $96.58 +2.52% Comcast Corp. (CMCSA) $50.27 +2.49% Nasdaq 100 - Fallers Micron Technology Inc. (MU) $21.81 -4.84% Tesla Motors Inc (TSLA) $147.98 -2.94% Garmin Ltd. (GRMN) $45.79 -1.67% Western Digital Corp. (WDC) $82.10 -1.56% Sears Holdings Corp. (SHLD) $43.95 -1.12% Randgold Resources Ltd. Ads (GOLD) $63.35 -0.83% Avago Technologies Ltd. (AVGO) $53.15 -0.80% Apple Inc. (AAPL) $550.77 -0.76% Seagate Technology Plc (STX) $52.65 -0.57% PACCAR Inc. (PCAR) $57.73 -0.21% NEW Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Newspaper Round Up Thursday newspaper round-up: Fed taper, EU banking union, Retailers... Emerging and Asian exchanges took the taper in their stride as global markets continued to react on Thursday to the US Federal Reserve's decision to begin shrinking its monthly asset buying programme from 85bn dollars to 75bn dollars. Previous hints that the Fed was set to reduce, or taper, its purchase programme had caused turbulence in emerging markets. But Thursday's relative calm suggested that half a year of teasers from the US central bank had prepared the ground well. - Financial Times The Chancellor last night hailed an agreement to form a European banking union that will protect the interests of Britain's taxpayers. George Osborne spent long into the evening in Brussels negotiating with fellow European Union finance ministers over a deal that gives the European Union new powers to prevent banking failures. The so-called banking union is also designed to put an end to the need for taxpayer-funded bailouts such as those that became prevalent during the financial crisis in Britain, the United States and Europe. - The Times Ailing retailers hoping for a late surge in Christmas shopping could be left disappointed, according to new data from Visa Europe. December 23rd is expected to be the biggest shopping day of the year in the UK but Visa has warned that retail sales could be flat on the same day in 2012. Visa has estimated that £1.2bn will be spent on its cards on Monday December 23 using historical spend data, the same amount as last year. The Telegraph Mark Carney, the governor of the Bank of England, has formally announced that Britain will switch to using plastic banknotes in 2016, ending 320 years of paper money. After a public consultation in which 87% of the 13,000 respondents backed the new-style currency, the Bank said it would introduce "polymer" notes, as it prefers to call them, in two years' time, starting with the new £5 note featuring Winston Churchill in 2016 and the Jane Austen £10 a year later. - The Guardian General Electric expects its revenue growth to accelerate next year as the US economy continues to strengthen, the US manufacturing and financial group told investors on Wednesday. It also forecast double-digit growth in earnings from its industrial operations, offsetting a decline in profits at GE Capital, its finance arm. In an annual presentation to analysts and investors, Jeff Immelt, GE's chief executive, said the company would have a "ton of cash", with about $90bn available over the next three years, much of which could be used for share buybacks and raising the dividend. - Financial Times HM Revenue and Customs has been accused of failing to collect enough tax from big business and not using the powers at its disposal to do so by an influential committee of MPs. The Public Accounts Committee (PAC), chaired by Margaret Hodge, accused the tax man of "not clearly demonstrating that it [HMRC] is on the side of the majority of taxpayers who pay their taxes in full." - The Telegraph   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, 18 December 2013 17:36:30 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Galvan 3 Superb Stocks to Buy BEFORE Christmas There is a small window of opportunity if you're quick! Click here for your FREE report. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Markets flat as investors turn cautious ahead of Fed - Stocks trading within narrow range ahead of Fed - Fed decision due at 19:00 London time - BoE votes unanimously on policy, warns of sterling strength - UK unemployment falls to four-and-a-half-year low techMARK 2,697.26 +0.47% FTSE 100 6,492.08 +0.09% FTSE 250 15,366.70 +0.12% Markets finished broadly flat on Wednesday after erasing earlier gains, as improving economic data from Europe was outweighed by uncertainty surrounding the Federal Reserve’s policy decision due out later this evening. The FTSE 100 closed just 5.89 points higher at 6,492.08, having traded within narrow range of just 30 points or so for most of the session. “The main focus though remains very much on whether the Fed will be bold enough to start the long awaited tapering programme later this evening as Ben Bernanke chairs his very last press conference as Fed Chairman,” said Michael Hewson, Chief Market Analyst at CMC Markets. The Fed decision is due out at 14:00 in Washington 19:00 London time as policymakers wrap up their two-day policy meeting amid rising speculation that they could announce a scaling back of the monthly $85bn bond buying programme. The recent raft of upbeat data pointing to a recovery in the world’s biggest economy has fuelled speculation that the Fed will begin tapering this month. Expectations, however, remain finely balanced with some saying that below-par inflation will prevent the Fed from making a move this month. BoE warns of sterling strength, UK unemployment falls Minutes from this month’s Bank of England meeting were released this morning, revealing the policymakers voted unanimously to keep its Bank Rate at 0.5% and its asset purchase programme at £375bn. However, the Monetary Policy Committee did warn that further strength in the sterling is currently close to a five-year high against other currencies - could hamper economic growth in the UK. "Any further substantial appreciation of sterling would pose additional risks to the balance of demand growth and to the recovery," the MPC said at its meeting on December 4-5th. Markets were also digesting labour-market figures this morning, which showed that the UK unemployment rate unexpectedly fell to 7.4% in the three months to October, its lowest since the three months to April 2009. The jobless rate continues to inch towards the MPC’s target of 7%, at which point it would begin to reassess current monetary policy. Meanwhile, the Germany IFO business climate index rose from 109.3 to 109.5 in December, in line with expectations. While the current assessment sub-index declined month-on-month, the expectations survey rose by more than expected. M&S hit by UBS downgrade High Street retailer Marks & Spencer was a heavy faller after analysts at UBS cut their rating on the stock from 'buy' to 'neutral' and lowered their target from 550p to 475p. In a review of the sector, the bank raised concerns about margins given that promotional levels across the industry are up on last year, as it downgraded ASOS and cut its target for Debenhams. Sainsbury was off shopping lists again today, along with fellow supermarket groups Tesco and Morrison, after a report from Kantar yesterday showed rising competition from discount grocery stores over the past 12 weeks. Deutsche Bank cut its target for Sainsbury slightly this morning, keeping a 'hold' recommendation. Online gambling group bwin.party surged after saying that the outlook for 2014 remains positive, with new product launches, continued mobile expansion, prospects for further growth in the US and increased betting volumes. Africa-focused oil and gas group Ophir Energy pleased investors with a farm-out of its blocks in Gabon, while India-focused Essar Energy rose after an update which reported healthy current trading. Oilfield services firms Petrofac, Wood Group and Hunting were trading lower after a profit warning from French peer Technip. Oil major BP finished flat despite making its first significant oil discovery in the Gulf of Mexico since 2009, in the Gila deepwater prospect 300 miles off New Orleans. The firm also today completed the upgrade of the Whiting facility in Northwest Indiana, designed to create $1bn per annum of additional future operating cash flow. RSA Insurance declined after the company revealed today that Ameriprise Financial took its stake in RSA below the 5% threshold last Friday. United Utilities Group was in the red after going ex-dividend, meaning that from today investors won't be able to get their hands on its latest payout. Grainger, Marston's, Berkeley Group, Greene King and Halfords also went ex-div today. Learn to trade the most liquid financial market in the world At our free workshop we will give you a proven strategy for you to apply straight away. Also for simply signing up you will receive a free 50 page e-book from a publish FX trader.  Book your place now  FTSE 100 - Risers ARM Holdings (ARM) 1,027.00p +3.42% Antofagasta (ANTO) 795.50p +2.05% Vedanta Resources (VED) 802.00p +2.04% Reckitt Benckiser Group (RB.) 4,651.00p +2.02% Rexam (REX) 497.30p +1.88% Centrica (CNA) 328.70p +1.73% Coca-Cola HBC AG (CDI) (CCH) 1,658.00p +1.59% Wolseley (WOS) 3,265.00p +1.52% Associated British Foods (ABF) 2,329.00p +1.26% William Hill (WMH) 375.60p +1.24% FTSE 100 - Fallers Sainsbury (J) (SBRY) 365.10p -3.57% United Utilities Group (UU.) 650.50p -2.62% Marks & Spencer Group (MKS) 441.50p -2.39% RSA Insurance Group (RSA) 90.55p -2.00% Petrofac Ltd. (PFC) 1,089.00p -1.89% Aggreko (AGK) 1,611.00p -1.71% Tesco (TSCO) 319.05p -1.68% Burberry Group (BRBY) 1,429.00p -1.58% Morrison (Wm) Supermarkets (MRW) 253.20p -1.36% GlaxoSmithKline (GSK) 1,548.50p -1.12% FTSE 250 - Risers Bwin . party Digital Entertainment (BPTY) 125.40p +8.38% Ophir Energy (OPHR) 320.70p +4.80% Alent (ALNT) 348.90p +4.52% Ocado Group (OCDO) 441.60p +4.00% Cable & Wireless Communications (CWC) 52.60p +3.54% RPC Group (RPC) 577.00p +3.22% Keller Group (KLR) 1,104.00p +3.18% Supergroup (SGP) 1,362.00p +2.79% UDG Healthcare Public Limited Company (UDG) 321.80p +2.48% International Personal Finance (IPF) 599.00p +2.48% FTSE 250 - Fallers Perform Group (PER) 230.00p -5.89% Imagination Technologies Group (IMG) 165.20p -5.49% Wood Group (John) (WG.) 668.50p -4.84% Debenhams (DEB) 78.45p -4.33% Kazakhmys (KAZ) 194.90p -2.79% Hochschild Mining (HOC) 126.50p -2.77% Hunting (HTG) 731.00p -2.73% Berkeley Group Holdings (The) (BKG) 2,448.00p -2.59% Marston's (MARS) 143.70p -2.24% AL Noor Hospitals Group (ANH) 880.00p -2.11% Download your free Santa Rally report. Have you heard of the stock market phenomenon called the Santa Rally? The FTSE 100 has risen in 18 of the last 20 Decembers*. Download your free report showing a breaking down of what the average rise has been for the stocks within the FTSE over the month of December.  Losses can exceed deposits. * Past performance is no guarantee of the future Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: German confidence rises to boost stocks - German business confidence grows - Eurozone agrees backstop deal for banks - UK unemployment drops unexpectedly - Federal Reserve to release policy decision FTSE 100: 0.09% DAX: 1.06% CAC 40: 1.00% FTSE MIB: 1.15% IBEX 35: 1.07% Stoxx 600: 0.86% European stocks gained as German business confidence improved and as Eurozone finance ministers agreed to a backstop for failing banks. German business sentiment improved in line with expectations in December, according to a survey of about 7,000 companies today. The Ifo institute's business confidence index climbed to 109.5 from 109.3 in November, the highest level since April 2012. Meanwhile, Eurozone finance ministers agreed today to provide a common backstop, by at least 2025, to the European Union’s new bank rescue system in case it runs out of money in an emergency. Ministers agreed a way to finance the closure of banks which fail including a €55bn fund which will be built up over the next decade by levies on banks. The deal marks a step closer to completing the final details of a banking union across the 17 countries to tackle failing lenders in Europe’s banking union. UK unemployment falls UK unemployment declined unexpectedly by 99,000 to 2.39m people in the three months to October, according to the Office for National Statistics. The unemployment rate, measured by International Labour Organisation methods also fell to 7.4% from 7.6% in the quarter through September – moving closer to the Bank of England’s threshold of 7% at which it will consider raising interest rates. This morning the BoE released minutes of its December 4th to 5th meeting, which revealed policymakers voted unanimously to keep its Bank Rate at 0.5% and its asset purchase programme at £375bn. The minutes also showed the central bank's Monetary Policy Committee warned the recent appreciation in sterling could jeopardise British exports. "Any further substantial appreciation of sterling would pose additional risks to the balance of demand growth and to the recovery," the MPC said in the minutes. Federal Reserve policy decision The US Federal Reserve will unveil its latest policy decision later today after it wraps up its two-day meeting. The central bank may decide to begin scaling back quantitative easing if it deems the economy has recovered enough to cope. A recent slate of upbeat economic data has fuelled speculation that the Fed may begin tapering today. "Will they? Won’t they? Tapering is likely the only thing on most investors mind today ahead of the [Fed's] decision on whether to finally taper the unprecedented $85bnn monthly bond-buying scheme," said Alex Conroy, Financial Sales Trader at Spreadex. "If the last few months are anything to go buy expect huge volatility today as investors attempt to get ahead of the Fed." Acting as a backdrop was the release of a report on US housing starts which rose more than expected to a seasonally adjusted annual rate of 1.09m in November from 889,000 the previous month. Centrica gains Centrica’s shares jumped after the energy company said it would sell its Texas gas-fired power stations to Blackstone for $685m and use the proceeds to extend its share buyback programme. Technip tumbled after the French oilfield services company warned that it expects margins will fall next year. TUI AG gained after the tour operator unexpectedly posted a full-year profit. Elektrobit surged after the Finnish maker of software products for the automotive industry forecast operating profit of about €8m in 2013. GlaxoSmithKline retreated as Vectura Group said its partner Sandoz has obtained approval to market its asthma inhaler, a generic version of Glaxo’s Advair, in Denmark. Marks & Spencer Group dropped as UBS downgraded the retailer to ‘neutral’ from ‘buy’, citing lower gross margins. Vesta Wind Systems advanced after saying it received an order from Enel Green Power for wind turbines to produce 350 megawatts of power. The euro fell 0.04% to $1.3763. Brent crude futures rose $0.814 to $109.330 per barrel, according to the ICE. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report US open: Markets mixed on housing starts, Fed uncertainty - Fed decision due at 14:00 (19:00 London time) - Housing starts rise at fastest pace since 2008 - Ford drops on profit outlook - Apple slips on iPhone production fears Dow Jones: 0.35% Nasdaq: -0.12% S&P 500: 0.15% US markets opened mixed on Wednesday as a decent performance by housebuilders was outweighed by uncertainty caused by the upcoming Federal Reserve policy decision. The Dow Jones Industrial Average and S&P 500 were both trading slightly higher in early trading, while the tech-heavy Nasdaq was being dragged lower by a heavy drop by gadget giant Apple. The Fed, which wraps up its two-day policy meeting later on, is in focus today given rising speculation that it could announce a scaling back of its monthly $85bn bond buying programme. The recent raft of upbeat data pointing to a recovery in the world’s biggest economy has fuelled speculation that the Fed will begin tapering this month. Expectations, however, remain finely balanced with some saying that below-par inflation will prevent the Fed from making a move this month. Consumer price index figures released during Tuesday’s session showed that the rate of core inflation held steady during November as it continues to undershoot the Fed's target. Meanwhile, according to analysts at ShareCast, there are worries in some corners over the effects that tapering might have on markets in general, and emerging markets in particular. “Fed Chairman Ben Bernanke and his colleagues will surely be weighing that risk when making their deliberations,” they said. The Federal Open Market Committee will release its policy statement and forecasts for economic growth, inflation and unemployment at 14:00 (19:00 London time) in Washington. Bernanke will speak shortly afterwards. Elsewhere in the US, a report on housing starts rose more than expected to a seasonally adjusted annual rate of 1.09m in November from 889,000 the previous month. This 22.7% gain was the fastest pace recorded since early 2008, beating the 950,000 housing starts expected by analysts. US mortgage applications fell by 5.5% in the week to December 13th, compared to an increase of 1% the prior week, according to data from the Mortgage Bankers’ Association. Ford drops on US outlook Auto major Ford was a heavy faller in morning trade after saying that profits will fall in 2014 due to the cost of bringing 23 new vehicle models to market – it’s busiest year for new vehicle launches in history. The company said it would earn $7-8bn next year, down from an expected $8.5bn in 2013. Tech group Apple was also registering losses after reported supplier Jabil disappointed investors with its first-quarter earnings and second-quarter guidance. Citigroup said that Jabil’s guidance for a drop in sales from its diversified manufacturing services division could suggest a fall in iPhone production. Lennar advanced as the US homebuilder reported a rise in net income in the three months through November that beat analysts’ expectations. Sector peers DR Horton and PulteGroup were also higher. Halozyme gained as the biopharmaceutical company named Helen Torley as its Chief Executive and President to replace Gregory I. Frost. VeriFone Systems declined as the maker of credit-card terminals said it expected adjusted per-share earnings of $1.35-$1.40 this year, compared with a forecast of $1.56. NEW Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Broker Tips UBS has downgraded its ratings for both Marks & Spencer and ASOS from 'buy' to 'neutral', highlighting higher levels of promotional spend across the industry as of late. "The clothing retailers look to have pressed the panic button this year as subdued real disposable income, weak footfall and warmer October weather have held back full-price sales," the bank said. UBS said its preferred exposure is in the electricals/hardlines markets with Home Retail and Dixons both rated 'buy' likely to have both benefitted from sales of tablets, televisions and small domestic appliances over the Christmas period. Daniel Stewart & Co has cut its target for bwin . party Digital Entertainment but reinstated its 'buy' stance, saying that the online gambling firm is positioned for growth after a tough year. The broker, which has had the stock under review for some time, reduced its target from 173p to 146p. Nevertheless, it said that the firm has "come through the worst of it" and that 2014 should lay the foundations for a return to growth, helped by new product launches and growth from exposure to the newly regulated online market in New Jersey. Westhouse Securities has maintained its 'add' rating and 209p target for price-comparison website Moneysupermarket.com after the Competition Commission's report into the private motor insurance market. The CC said it is considering prohibiting 'most favoured nation' clauses which make sure that individual insurers' premiums are not offered more cheaply elsewhere, something which it says reduces competition. "We believe this is good news for MONY, which is the only independent amongst major UK PC players and does not have MFN clauses in its contracts with motor insurers," said analyst Roddy Davidson.   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