Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 18 June 2014 17:46:58 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Savills Unique Real Estate Opportunity Forest Lakes Country Club, Canada with 2-year rental guarantee for early buyers. Download free brochure London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE ends modestly higher ahead of Fed statement - All eyes on Fed - Unanimous vote by BoE MPC - Investors poised for "imminent" takeover bid techMARK 2,804.94 +0.37% FTSE 100 6,778.56 +0.17% FTSE 250 15,624.20 +0.25% The FTSE ended today's session higher ahead of the latest statement release by the Federal Reserve and following the publication of the minutes of the latest meeting of the Bank of England's (BoE) Monetary Policy Committee (MPC). With ex-dividend stocks slightly offsetting further gains by both oil stocks and potential bid target Shire, the top tier index closed up 11.79 points at 6,778.56. The BoE unveiled the minutes of its most recent MPC meeting, at which members voted unanimously to maintain interest rates at 0.5% after agreeing that "it would be necessary to see more evidence of slack being absorbed before an increase in Bank Rate would be warranted". However, a speech given by rate-setter Martin Weale revealed his belief there is evidence to indicate a need for a tighter policy profile than that given in its May forecast. Weale, who is an external member of the MPC, said that the potential for unemployment to fall more quickly than the committee currently anticipates was even by itself suggestive that policy should be tightened. "Investors are braced for a potentially hawkish statement from the Federal Reserve today, having had the Bank of England minutes this morning as a warm-up act," said Alastair McCaig, Market Analyst at IG. "The gains made today on the FTSE have been founded on energy firms, which at the moment are benefiting from higher oil prices. Despite this, traders are keeping one eye on the Iraq situation at all times, with the uncomfortable knowledge that higher oil prices will not be beneficial for the global economy." The Fed is expected to announce a further tapering of quantitative easing when it wraps up its policy meeting later this evening. Analysts predict the central bank will cut another $10bn off its monthly bond purchase programme to take the total to $35bn. However, following Tuesday's release of the latest US inflation data, which showed prices rose more than forecast, some analysts now believe the Fed may consider raising interest rates sooner than it had been expecting. "Yesterday's US CPI numbers has invited some concern that, even here, tightening might come sooner rather than later, which would be more plausible given that CPI inflation is over 2%, and unemployment is continuing to fall," according to Michael Hewson at CMC Markets. US asked to launch air strikes by Iraq The BBC was this afternoon reporting that Iraq has requested air strikes from the US. It quoted the US military commander General Martin Dempsey as saying: "We have a request from the Iraqi government for air power". The request follows an attack by jihadist militants on Iraq's largest oil refinery, located north of Baghdad. Shire investors anticipating takeover bid "imminently" Shire's shares have spiked higher on rumours that Allergan could bid for the company in an effort to fend off a hostile takeover attempt by Valeant Pharmaceuticals. Bloomberg cited an analyst at SunTrust Robinson Humphrey who said that a bid is "imminent" and "makes strategic sense" for the US company. Oil stocks Royal Dutch Shell, BP and BG Group were all making gains as crude prices continued to climb. Meanwhile, heavyweight utilities groups Severn Trent and United Utilities were both trading lower this morning after going ex-dividend. WPP was also in the red after Chief Executive Martin Sorrell reported that trading in May was not as strong as April, although it was satisfactory, and he said second quarter trading could surpass its robust set of results in the previous three months. Maximise your income and prepare for a brighter future Attend our free seminar, learn how to invest in property using a Small Self Administered Scheme (SSAS) and make your future easier and more affluent! Register here to attend our free seminar FTSE 100 - Risers Shire Plc (SHP) 3,785.00p +3.42% Associated British Foods (ABF) 3,050.00p +2.01% Royal Dutch Shell 'B' (RDSB) 2,533.00p +1.77% BP (BP.) 514.40p +1.64% Royal Dutch Shell 'A' (RDSA) 2,407.50p +1.52% Vodafone Group (VOD) 198.10p +1.46% Mondi (MNDI) 1,070.00p +1.23% BHP Billiton (BLT) 1,874.50p +1.19% Anglo American (AAL) 1,437.50p +1.09% Rio Tinto (RIO) 3,079.50p +1.00% FTSE 100 - Fallers United Utilities Group (UU.) 861.50p -2.77% IMI (IMI) 1,526.00p -2.43% Severn Trent (SVT) 1,928.00p -2.08% WPP (WPP) 1,262.00p -2.02% Aberdeen Asset Management (ADN) 434.60p -1.70% Smith & Nephew (SN.) 1,053.00p -1.68% Diageo (DGE) 1,858.00p -1.61% Babcock International Group (BAB) 1,171.00p -1.60% Sainsbury (J) (SBRY) 317.10p -1.49% William Hill (WMH) 336.10p -1.44% FTSE 250 - Risers Rank Group (RNK) 168.00p +5.59% Fisher (James) & Sons (FSJ) 1,340.00p +4.69% RPS Group (RPS) 276.70p +4.42% NMC Health (NMC) 465.00p +4.35% Keller Group (KLR) 961.00p +4.34% Euromoney Institutional Investor (ERM) 1,147.00p +4.27% Barr (A.G.) (BAG) 631.00p +3.44% Foxtons Group (FOXT) 287.50p +3.42% IP Group (IPO) 183.00p +3.33% Ferrexpo (FXPO) 130.50p +3.16% FTSE 250 - Fallers Xaar (XAR) 500.00p -6.89% 3i Group (III) 394.20p -4.25% African Barrick Gold (ABG) 214.10p -4.21% Telecom Plus (TEP) 1,384.00p -3.62% Restaurant Group (RTN) 555.00p -3.23% Brown (N.) Group (BWNG) 423.50p -2.69% Ted Baker (TED) 1,746.00p -2.35% Grafton Group Units (GFTU) 538.00p -2.27% Paragon Group Of Companies (PAG) 351.50p -2.12% Redrow (RDW) 249.80p -2.04% PROVEN 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks mixed ahead of Fed policy - Fed policy decision looms - BoE meeting minutes released - Iraq asks US to launch air strikes FTSE 100: 0.17% DAX: 0.10% CAC 40:-0.13% FTSE MIB: 0.15% IBEX 35: 0.49% Stoxx 600: -0.08% European stocks were mixed before the US Federal Reserve's policy decision. The Fed is forecast to announce a further tapering of quantitative easing when it wraps up its policy meeting later this evening. Analysts predict the central bank will cut another $10bn off its monthly bond purchase programme to take the total to $35bn. However, following Tuesday's release of the latest US inflation data, which showed prices rose more than forecast, some analysts now believe the Fed may consider raising interest rates sooner than it had been expecting. US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing analysts' estimates. "Yesterday's US CPI numbers has invited some concern that, even here, tightening might come sooner rather than later, which would be more plausible given that CPI inflation is over 2%, and unemployment is continuing to fall," according to Michael Hewson at CMC Markets. In March, policy makers estimated that the interest rate, now close to zero, would rise to 1% at the end of 2015 and to 2.25% a year later. Meanwhile, Fed Chair Janet Yellen will also today release a new set of quarterly predictions for unemployment, inflation, economic growth and the benchmark federal funds rate. BoE meeting minutes Bank of England policymakers voted unanimously to hold interest rates this month, but expressed surprise that markets had underestimated the chance of a hike later this year. Members of the Bank's Monetary Policy Committee all voted to keep base rates at 0.5% and to leave quantitative easing unchanged at £375bn, minutes of the meeting on June 4th-5th showed. In his Mansion House speech last week, BoE Governor Mark Carney suggested that an increase in interest rates was a possibility as soon this year given the pick-up in the economy. "Minutes from the Bank of England struck an odd tone, neither entirely backing up Mark Carney nor completely distancing themselves from his Mansion House speech," IG analyst Chris Beauchamp noted. "The bank might think the market has become too relaxed about a rate hike in 2014, but on the back of today's minutes most policymakers are still worried that growth is too weak. To raise rates only to cut them again would be the height of folly, even without considering the deleterious impact on the bank's reputation." Iraq asks US to launch air strikes Iraq has urged the US to launch air strikes against rebel insurgents who have seized several cities. "We have a request from the Iraqi government for air power," confirmed top US military commander Gen Martin Dempsey. The news came after jihadist militants launched an attack on Iraq's biggest oil refinery north of Baghdad. Oil majors BP and ExxonMobil have evacuated staff from Iraq. Brent crude futures climbed $0.360 to $113.860 per barrel, according to the ICE. Royal Dutch Shell and BG Group gained as the news of the Iraq conflict pushed up oil prices. Daily Mail, Boliden Daily Mail and General Trust rallied as its Zoopla Property Group unit rose on its stock-market debut. Boliden surged after Nordea upgraded the shares to 'buy' from 'sell' citing earnings growth from the second quarter. Rheinmetall jumped on reports the German defence company will sign a €2.7bn tank deal with Algeria. Vodafone gained after the Financial Times reported that the carrier and 02 are in talks to offer Amazon.com's new smartphone to customers. Bayerische Motoren Werke was higher following reports the maker of luxury vehicles plans to cut costs by €3bn to €4bn a year until 2020. The euro rose 0.17% to $1.3570. Earn 16% in 1 year... Become an armchair developer, invest in one of the UK's most exclusive housing developments and earn over 16% per annum! Register here for further information US Market Report US open: Stocks little changed before Fed policy decision US stocks were little changed ahead of the Federal Reserve's monetary policy decision. The Fed is expected to announce a further tapering of quantitative easing when it wraps up its policy meeting later this evening. Analysts predict the central bank will cut another $10bn off its monthly bond purchase programme to take the total to $35bn. However, following Tuesday's release of the latest US inflation data, which showed prices rose more than forecast, some analysts now believe the Fed may consider raising interest rates sooner than it had been expecting. US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing analysts' estimates. "Yesterday's US CPI numbers has invited some concern that, even here, tightening might come sooner rather than later, which would be more plausible given that CPI inflation is over 2%, and unemployment is continuing to fall," according to Michael Hewson at CMC Markets. In March, policy makers estimated that the interest rate, now close to zero, would rise to 1% at the end of 2015 and to 2.25% a year later. Meanwhile, Fed Chair Janet Yellen will also today release a new set of quarterly predictions for unemployment, inflation, economic growth and the benchmark federal funds rate. Iraq Iraq's military said it has repelled an attack on the biggest oil refinery in Baghdad, military spokesman Qassim al-Moussawi told Associated Press. However, there was no independent confirmation of his claims. Oil majors BP and ExxonMobil evacuated staff from Iraq amid the turmoil. The news comes as the government fights against the Islamic State in Iraq and the Levant (ISIS) and its Sunni Muslim allies in Diyala and Salahuddin provinces, after they took over the second city, Mosul, last week. West Texas Intermediate crude futures climbed $0.319 to $106.700 per barrel, according to the ICE, amid fears that the crisis could hurt oil supplies. Adobe, FedEx Adobe advanced as the company reported a rise in sales and profit in the three months to end of May, exceeding analysts' estimates. FedEx gained as the operator of the world's largest cargo airline posted fiscal fourth-quarter earnings of $2.46 a share, beating forecasts of $2.36. ConAgra declined as the packaged-food company cut its earnings forecast amid slow sales of consumer foods and shrinking profit at its private-label business. Cisco jumped as Morgan Stanley rated the San Jose, California-based company with an 'overweight' recommendation. The US 10-year yield fell two basis points to 2.63%. Achieve your investment goals... Get 15% returns on this stunning waterfront apartment development. This unique opportunity in the heart of Manchester's Salford Quays and Media City (new home of the BBC) is one not to be missed! Register your details here to receive your FREE brochure Broker Tips Broker tips: BT, Wm Morrison, Berkeley... BT and Virgin Media owner Liberty Global offer investors the best way to cash in on fixed-line telecom companies' assault on the mobile market, according to broker Goldman Sachs. Goldman said fixed-line players such as BT, which plans to launch business and household mobile products later this year, were driving convergence in the market by using their superior assets to enter mobile. Shore Capital has repeated its 'sell' rating for supermarket group Wm Morrison after the recent announcement that 2,600 store managers are likely to lose their jobs. "As is often the case with such announcements, senior management pledges that the changes are likely to lead to an improvement in customer service; we will see whether this is the case and also whether in-store morale and standards can be maintained through what is a demonstrably challenging and difficult time for all concerned." Numis Securities has upgraded housebuilder Berkeley Group from 'hold' to 'add', saying that the stock is "too cheap" after a broadly in-line set of annual results. "In our view, Berkeley is too cheap, in keeping with the wider housebuilding sector, although the share price may be held back over the next year due to political rhetoric concerning the London housing market in the run up to the General Election," Numis said. The price of Zoopla's initial public offering (IPO) on Wednesday was a "decent result" for Daily Mail & General Trust (DMGT), according to Investec which maintained a 'buy' rating for the media group. "Given recent DMGT weakness, we think shares should recover today as value has been crystallised [...] and DMGT receives new maximum cash inflow of £190m," the broker said. Broker Investec believes the de-rating on street fashion chain SuperGroup is "overdone" as the long-term growth story remains intact. Shares in the company, which is behind the SuperDry fashion label, are down 39% from 1411p when it emitted a weak sales update in early May, which "seems excessive for a less than 2% cut in consensus earnings and to us implies the market is expecting a profit warning", wrote analysts. UBS has slashed its target for Xaar by over two-fifths from 950p to just 550p after the digital inkjet printing company's sales warning, saying that near-term uncertainties overshadow the long-term potential of the business. "As the ceramics market nears a saturation point and the competition fights for market share, we are wary that near-term earnings revisions are more likely to be downwards than up," UBS said.   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

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 18 June 2014 09:54:36 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Savills Unique Real Estate Opportunity Forest Lakes Country Club, Canada with 2-year rental guarantee for early buyers. Download free brochure London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: UK stocks rise as investors await BoE minutes, Fed - Supermarkets, telecoms lift markets higher - Fed in focus ahead of policy decision - BoE minutes closely watch amid rate-hike speculation techMARK 2,801.10 +0.23% FTSE 100 6,787.81 +0.31% FTSE 250 15,598.89 +0.09% UK stocks markets were putting a decent performance on Wednesday, helped by gains in the supermarket and telecoms sectors, as investors adopted a positive attitude ahead of all-important Federal Open Market Committee (FOMC) decision. The FTSE 100 was trading 0.3% higher at 6,788 in early trading, as it continues to rebound after hitting a seven-week low of 6,754.64 on Monday. "Equity markets continued to recover some of their lost equilibrium yesterday after last week's sell off, but it remains quite slow progress, with a cocktail of geopolitical concerns keeping investors cautious and oil prices elevated," said Michael Hewson, Chief Market Analyst at CMC Markets UK. The Fed is expected to announce a further tapering of quantitative easing when the central bank wraps up its policy meeting later this evening. Analysts predict the Fed will cut another $10bn off its monthly bond purchase programme to take the total to $35bn. However, following Tuesday's release of the latest US inflation data, which showed prices rose more than forecast, some analysts now believe the Fed may consider raising interest rates sooner than it had been expecting. US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing analysts' estimates. The minutes from the latest Bank of England policy meeting will also be closely watched in the aftermath of Governor Mark Carney's statement last week about the first increase in the Bank Rate coming in as soon as six months. While the comments brought forwards expectations of a rate hike, yesterday's sharper-than-expected dip in UK inflation to a four-and-a-half year low of 1.5% will have clouded the outlook for monetary policy. Supermarkets, telecoms on the rise Wm Morrison continued to rise after the supermarket chain confirmed plans to slash 2,600 jobs as part of plans to re-organise and simplify its management structure. Grocery peers Tesco and J Sainsbury were also putting in decent gains. Meanwhile, telecoms giants Vodafone and BT Group were also providing a lift on the top-tier index. Babywear retailer Mothercare inched higher amid reports that it could cut up to 500 jobs. Restructuring plans leaked to The Times say that the positions to be axed would be among customer service advisers. Housebuilder Berkeley declined despite saying that average selling prices were up almost 20% in the year to April 30th, helping annual revenues rise 18% and profits jump 40%. Meanwhile, home-shopping business N Brown underwhelmed with 2.6% revenue growth in the 15 weeks to June 14th rose 2.6%, as shares dropped sharply early on. Heavyweight utilities groups Severn Trent and United Utilities were both trading lower this morning after going ex-dividend. Land Securities, 3i Group, 3i Infrastructure and Restaurant Group were also automatically lower as they traded without the access to their latest dividend payments. FTSE 100 - Risers Tesco (TSCO) 295.70p +1.95% Fresnillo (FRES) 833.00p +1.22% Sainsbury (J) (SBRY) 325.50p +1.12% Vodafone Group (VOD) 197.35p +1.08% Morrison (Wm) Supermarkets (MRW) 194.60p +1.04% Royal Dutch Shell 'B' (RDSB) 2,511.00p +0.88% Pearson (PSON) 1,117.00p +0.81% Imperial Tobacco Group (IMT) 2,660.00p +0.80% Antofagasta (ANTO) 761.50p +0.79% Royal Dutch Shell 'A' (RDSA) 2,390.00p +0.78% FTSE 100 - Fallers United Utilities Group (UU.) 852.50p -3.78% Severn Trent (SVT) 1,921.00p -2.44% Barratt Developments (BDEV) 344.30p -1.35% Persimmon (PSN) 1,187.00p -1.08% WPP (WPP) 1,275.00p -1.01% Travis Perkins (TPK) 1,580.00p -0.94% Land Securities Group (LAND) 1,012.00p -0.78% Smith & Nephew (SN.) 1,063.00p -0.75% Admiral Group (ADM) 1,550.00p -0.70% Ashtead Group (AHT) 826.00p -0.66% FTSE 250 - Risers Kazakhmys (KAZ) 304.90p +3.32% BH Global Ltd. USD Shares (BHGU) 11.89 +3.21% Ferrexpo (FXPO) 130.20p +2.92% Supergroup (SGP) 869.00p +1.82% Booker Group (BOK) 130.00p +1.80% Oxford Instruments (OXIG) 1,420.00p +1.79% PayPoint (PAY) 1,105.00p +1.75% Rightmove (RMV) 2,207.00p +1.75% Perform Group (PER) 270.00p +1.69% Dairy Crest Group (DCG) 460.90p +1.59% FTSE 250 - Fallers Brown (N.) Group (BWNG) 420.20p -3.45% Berkeley Group Holdings (The) (BKG) 2,189.00p -3.18% 3i Group (III) 399.40p -2.99% Workspace Group (WKP) 556.00p -2.63% 3i Infrastructure (3IN) 135.10p -2.38% Xaar (XAR) 525.00p -2.23% Restaurant Group (RTN) 563.00p -1.83% Centamin (DI) (CEY) 62.20p -1.35% Alent (ALNT) 340.40p -1.33% Maximise your income and prepare for a brighter future Attend our free seminar, learn how to invest in property using a Small Self Administered Scheme (SSAS) and make your future easier and more affluent! Register here to attend our free seminar UK Event Calendar Wednesday June 18 INTERIMS LXB Retail Properties INTERIM DIVIDEND PAYMENT DATE Diploma, Innovation Group INTERIM EX-DIVIDEND DATE Edinburgh Worldwide Inv Trust, Scottish Inv Trust QUARTERLY EX-DIVIDEND DATE Canaccord Genuity Group Inc., Land Securities Group, Mercantile Investment Trust (The) INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (US) (13:30) Crude Oil Inventories (US) (15:30) Current Account (US) (13:30) FOMC Interest Rate (US) (19:00) MBA Mortgage Applications (US) (12:00) FINALS Berkeley Group Holdings (The), ReNeuron Group IMSS Brown (N.) Group SPECIAL DIVIDEND PAYMENT DATE Graphite Enterprise Trust EGMS Cambria Africa AGMS Bluecrest Bluetrend Ltd Red GBP, Bluecrest Bluetrend Ltd Red USD, Christie Group, Clean Air Power Ltd, Kalimantan Gold Corp Ltd. (DI), London Security, Martin Currie Global Portfolio Trust, Maven Income & Growth 2 VCT, Nature Group, NB Global Floating Rate Income Fund Ltd GBP, NB Global Floating Rate Income Fund Ltd USD, Nostra Terra Oil & Gas Co, Richoux Group, Sagicor Financial Corp. UK ECONOMIC ANNOUNCEMENTS BoE Interest Rate Minutes (09:30) FINAL DIVIDEND PAYMENT DATE Bank of Georgia Holdings, Graphite Enterprise Trust, Motivcom, Proven Planned Exit VCT, Share plc, Toyota Motor Corp. FINAL EX-DIVIDEND DATE 3i Group, 3i Infrastructure, Aberdeen Japan Investment Trust , Anglo Pacific Group, Downing Planned Exit VCT 6, Downing Planned Exit VCT 7, First Derivatives, Hansa Trust, Harvey Nash Group, Maven Income & Growth VCT, NetDimensions Holding Ltd. (DI), New Century AIM VCT 2, Panther Securities, RapidCloud International , Restaurant Group, S&U, Safestyle UK , Severn Trent, Templeton Emerging Markets Inv Trust, Tex Holdings, United Utilities Group, Value and Income Trust, Vianet Group PROVEN 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rise ahead of Fed policy decision - Fed policy decision due - BoE to release meeting minutes - Militants attack Iraq's biggest oil refinery FTSE 100: 0.31% DAX: 0.04% CAC 40: 0.01% FTSE MIB: 0.20% IBEX 35: 0.13% Stoxx 600: 0.13% European stocks gained ahead of the Federal Reserve's monetary policy decision. Analysts predict the Fed will announce a $10bn cut to its monthly bond purchase programme and decide to keep interest rates at 0.25% when their meeting ends today. Fed officials will also release a new set of quarterly forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate. In March, the Fed predicted their target rate, now close to zero, would be 1% at the end of 2015 and 2.25% a year later. In the UK, the Bank of England will release minutes from its meeting on June 4-5th when the central bank decided to keep interest rates at 0.5% and asset purchases at £375bn. In his Mansion House speech last week, BoE Governor Mark Carney suggested that an increase in interest rates was a possibility as soon this year given the pick-up in the economy. Iraq turmoil Islamist-led militants have attacked Iraq's biggest oil refinery in Baghdad with machine guns and mortars, according to reports today. The militants destroyed some stores of oil early this morning after entering the complex, refinery staff told AFP news agency. The news comes as the government fights against the Islamic State in Iraq and the Levant ISIS and its Sunni Muslim allies in Diyala and Salahuddin provinces, after they took over the second city, Mosul, last week. Concerns that the crisis will disrupt oil supplies has pushed prices higher. Brent crude futures increased $0.106 to $113.570 per barrel in morning trading, according to the ICE. Ryanair, Rheinmetall Ryanair advanced after Chief Peter Bellow told Bloomberg that Spain should consider selling 100% of airports operator Aena Aeropuertos. He said Ryanair would help Aena cut costs and increase tourist traffic. Rheinmetall jumped on reports the German defence company will sign a €2.7bn tank deal with Algeria. The euro was flat at $1.3547. Earn 16% in 1 year... Become an armchair developer, invest in one of the UK's most exclusive housing developments and earn over 16% per annum! Register here for further information US Market Report US Close: Stocks rise ahead of Fed policy announcement - Fed policy decision looms - US inflation rises - US housing starts fall - Iraq turmoil escalates DJIA: 0.16% NASDAQ: 0.37% S&P 500: 0.22% US stocks gained as investors awaited the Federal Reserve's latest policy decision. The central bank is expected to announce a further $10bn cut to its quantitative easing programme and to keep interest rates at 0.25% when it wraps up its two-day meeting tomorrow. Ahead of the announcement, a report showed US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing estimates for gains of 0.2% and 1.9% respectively. Energy prices advanced by 0.9% on the month and by another 3.3% over the past year, while food prices gained 0.5% on the month and 2.5% on the year. Core prices, which exclude both energy and food, also rose more quickly than forecast, rising by 0.3% month-on-month and 2% year-on-year. Paul Dales, Senior US economist at Capital Economics said: "With core CPI inflation rising to 2% in May, from 1.8% in April, the Fed will have to acknowledge in tomorrow's policy statement that price pressures are building. The chances that it will hike interest rates before the middle of next year are increasing." Meanwhile, a separate report showed housing starts fell by 6.5% month-on-month in May to reach an annualised rate of 1.001m. The consensus estimate had been for a reading of 1.033m. Iraq turmoil The US is deploying up to 275 military personal to Iraq to aid Baghdad in its battle against militant group Islamic State in Iraq and the Levant (ISIS). The move followed talks between the US and Iran yesterday and after ISIL captured large swaths of territory around Baghdad. The UK is also planning to re-open its embassy in Iran as reflection of "increasing confidence" in the international relations, marking an "important step forward" with the country, according to Foreign Secretary William Hague. West Texas Intermediate crude futures fell $0.281 to $106.600 per barrel at close of trading amid fears the turmoil will disrupt oil supplies. Shire, Medtronic Shire jumped after a Reuters report said the pharmaceutical company hired Citigroup Inc. as it may receive takeover offers. Medtronic gained after both Morgan Stanley and Credit Suisse upgraded the stock after the $42.9bn takeover of rival Covidien announced yesterday. The US 10-year yield rose six basis points to 2.65%. S&P 500 - Risers E*TRADE Financial Corp. (ETFC) $22.00 +7.74% GameStop Corp. (GME) $40.29 +6.81% Salesforce.Com Inc. (CRM) $57.82 +5.88% Charles Schwab Corp. (SCHW) $27.30 +5.49% Edwards Lifesciences Corp. (EW) $82.06 +4.61% Adt Corp (ADT) $34.81 +4.38% Expedia Inc. (EXPE) $77.62 +4.08% First Solar Inc. (FSLR) $69.13 +3.41% Lincoln National Corp. (LNC) $52.09 +3.21% MetLife Inc. (MET) $56.15 +3.14% S&P 500 - Fallers Boston Scientific Corp. (BSX) $12.60 -2.48% Regeneron Pharmaceuticals Inc. (REGN) $302.62 -1.87% Vertex Pharmaceuticals Inc. (VRTX) $65.89 -1.83% Alexion Pharmaceuticals Inc. (ALXN) $160.15 -1.64% Intuitive Surgical Inc. (ISRG) $403.24 -1.61% HCP Inc. (HCP) $40.45 -1.61% Eog Resources Inc. (EOG) $112.39 -1.44% Raytheon Co. (RTN) $95.83 -1.31% Diamond Offshore Drilling Inc. (DO) $49.14 -1.27% Express Scripts Holding Co (ESRX) $69.85 -1.26% Dow Jones I.A - Risers Goldman Sachs Group Inc. (GS) $168.22 +1.43% Home Depot Inc. (HD) $80.02 +1.42% JP Morgan Chase & Co. (JPM) $57.42 +0.97% Nike Inc. (NKE) $75.09 +0.72% Coca-Cola Co. (KO) $40.92 +0.64% Microsoft Corp. (MSFT) $41.68 +0.43% American Express Co. (AXP) $94.66 +0.31% Visa Inc. (V) $210.81 +0.27% 3M Co. (MMM) $143.69 +0.26% Chevron Corp. (CVX) $128.83 +0.23% Dow Jones I.A - Fallers Johnson & Johnson (JNJ) $101.93 -0.51% Exxon Mobil Corp. (XOM) $102.42 -0.49% E.I. du Pont de Nemours and Co. (DD) $67.79 -0.47% Wal-Mart Stores Inc. (WMT) $74.99 -0.46% Pfizer Inc. (PFE) $29.48 -0.44% Travelers Company Inc. (TRV) $95.22 -0.25% Verizon Communications Inc. (VZ) $49.21 -0.20% Intel Corp. (INTC) $29.95 -0.20% Walt Disney Co. (DIS) $83.16 -0.17% Procter & Gamble Co. (PG) $79.58 -0.14% Nasdaq 100 - Risers Keurig Green Mountain Inc (GMCR) $125.49 +4.56% Expedia Inc. (EXPE) $77.62 +4.08% Tesla Motors Inc (TSLA) $231.67 +3.14% Netflix Inc. (NFLX) $443.65 +3.11% Activision Blizzard Inc. (ATVI) $21.81 +1.77% Seagate Technology Plc (STX) $56.82 +1.63% Cognizant Technology Solutions Corp. (CTSH) $48.50 +1.53% Nxp Semiconductors Nv (NXPI) $63.30 +1.23% Sandisk Corp. (SNDK) $103.24 +1.22% Garmin Ltd. (GRMN) $60.50 +1.20% Nasdaq 100 - Fallers Regeneron Pharmaceuticals Inc. (REGN) $302.62 -1.87% Vertex Pharmaceuticals Inc. (VRTX) $65.89 -1.83% Alexion Pharmaceuticals Inc. (ALXN) $160.15 -1.64% Intuitive Surgical Inc. (ISRG) $403.24 -1.61% Express Scripts Holding Co (ESRX) $69.85 -1.26% Gilead Sciences Inc. (GILD) $79.79 -1.21% Yahoo! Inc. (YHOO) $34.43 -1.09% Biogen Idec Inc. (BIIB) $304.79 -1.03% Wynn Resorts Ltd. (WYNN) $197.45 -0.84% Achieve your investment goals... Get 15% returns on this stunning waterfront apartment development. This unique opportunity in the heart of Manchester's Salford Quays and Media City (new home of the BBC) is one not to be missed! Register your details here to receive your FREE brochure Newspaper Round Up Wednesday newspaper round-up: Bank of England, MySale, Help to Buy The Bank of England "will not hesitate" to take further action to cool Britain's booming housing market and stop the economy from boiling over, Mark Carney has said. On the day official data showed the average UK house price is ten times bigger than the average salary, the Governor used the Bank's annual report to highlight the steps it had already taken to prevent people from taking out unaffordable mortgages. Mr Carney said the Bank was prepared to use its so-called macro-prudential toolkit to support these steps. - The Daily Telegraph Shares in MySale have slumped 17% since they floated on Monday as confusion over the pricing of the Australian online retailer's stock continued in the market yesterday. In a second day of mixed trading after a botched debut — in which the retailers' stock was mistakenly priced in pounds rather than pence by Macquarie, the stock broker sponsoring the issue — MySale's shares closed down at 187.5p after listing at 226p. The Times understands that the London Stock Exchange had warned Macquarie Capital, the nominated adviser and joint broker and bookrunner with Zeus Capital, that it was unusual to list the price in pounds rather than pence. - The Times The Government has yet to demonstrate that its flagship Help to Buy mortgage guarantee policy is providing value for money, an influential committee of MPs has found. The House of Commons Public Accounts Committee (PAC) warned that the scheme - under which Government equity loans finance up to 20% of the purchase price of homes worth up to £600,000 - has created a "medium and long-term risk" to the taxpayer in the shape of a £10bn portfolio of loans that will impose a "heavy administrative burden" for decades to come. - The Daily Telegraph Customer complaints to the big six energy companies have reached their highest-ever levels. The big six suppliers – British Gas, EDF Energy, E ON, Npower, Scottish Power and SSE – received a total of 1.7m complaints in the first quarter of 2014, up from just under 1.5m in the same period last year, according to consumer group Which?. - The Guardian Trade links with China strengthened yesterday after billions of pounds of deals were signed to coincide with the first visit to Britain by the country's new premier. BP announced a 20-year, £12bn contract to supply Beijing with liquefied natural gas. The London Stock Exchange also said that it had signed an agreement with the Agricultural Bank of China to make it easier for Chinese companies to draw from London's large pools of investor capital by building up the market for renminbi-denominated equity products. - The Times The energy watchdog has backtracked on its decision to stop small supplier Ovo Energy paying interest on gas and electricity bill overpayments.  Last week, Ofgem caused outrage when it tried to ban the firm from paying 3% interest on their balance to customers who have built up a credit.  The bonus has made households more than £1m since 2010. It claimed the interest payment was too confusing and breaks its new rules on the number of discounts suppliers can offer. - The Daily Mail   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, 17 June 2014 17:26:45 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Savills Unique Real Estate Opportunity Forest Lakes Country Club, Canada with 2-year rental guarantee for early buyers. Download free brochure London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE ends higher ahead of FOMC meeting - FTSE closes up 12.13 points at 6,766.77 - Attention on Iraq, FOMC - Shire leads gains as miners weigh techMARK 2,794.60 -0.09% FTSE 100 6,766.77 +0.18% FTSE 250 15,585.46 -0.77% Blue chips recovered from a sharp dip earlier this afternoon to close in modestly positive territory, although concerns about Iraq continued to weigh, with investors also turning their attention to the latest Federal Open Market Committee (FOMC) meeting. The FTSE 100 ended the day 12.13 points higher at 6,766.77. David Madden, Market Analyst at IG, said: "As we get closer to the FOMC meeting, the market is becoming increasingly nervous, and the reactions to economic data correspondingly more severe. Today's weaker [US] housing data and stronger CPI gave a signal to move from equities for the day into the US dollar, prompting further weakness for equity markets. "[...] Ahead of a big day for central banks tomorrow, the default position is prudence and hibernation, leaving the FTSE struggling around 6,760." In Iraq, tensions continued to escalate as Sunni radicals moved south, although according to Credit Suisse, the situation "remains fluid". Last night, Barack Obama told Congress that he was deploying up to 275 military personnel to Iraq. The US president said the military personnel being sent to Iraq would provide support and security for the American embassy in Baghdad, but was "equipped for combat". Today saw a step up in talks in a bid to establish greater stability, while in related news Foreign Secretary William Hague told Parliament the British embassy in Tehran is to re-open. The latest FOMC meeting is expected to lead to additional tapering of asset purchases by the US central bank. Analysts predict the Fed will cut $10bn off monthly bond purchases and keep interest rates at 0.25%. In the view of Capital Economics, "[while] the federal funds rate may still be around a year or so away, the question of how the bond market will react to the onset of tighter monetary policy is burning". US consumer prices rose by 0.4% month-on-month in May, according to the Bureau of Labor Statistics, compared to expectations of an increase of 0.2%. Elsewhere in the States, housing starts fell by 6.5% month-on-month in May to reach an annualised rate of 1.001m, below expectations of 1.033m. UK house price rises in April raise spectre of lending clampdown Back in Britain, house prices continued their upward march in April, piling pressure on Bank of England policymakers to clamp down on lending. Prices increased 9.9% in the year to April, up from 8% in the year to March 2014, according to figures from the Office for National Statistics (ONS). In other data released by the ONS, the consumer price index (CPI) fell sharply in May, with the rate of advance in prices slowing to a 1.5% year-on-year pace from 1.8% in the previous month, the lowest reading since May 2009. The consensus estimate had been for a reading of 1.7%. Shire soars on rumours of bid preparation Pharmaceutical group Shire was making gains after Reuters reported that it has hired investment bank Citi as an advisor as it braces itself for takeover bids. The company's Irish tax base and its mid-sized market value of £22bn makes it a prime acquisition target, analysts told the news agency. Morrison Supermarkets rose after it confirmed plans to slash 2,600 jobs as part of plans to reorganise and simplify its management structure. Having trialled the new structure on a small scale, the retail chain has decided to roll out the plan across the group. Chief Executive Dalton Philips said it was "the right time" to modernise the mangement of its stores. Oil stock Tullow continued to rise amid the ongoing turmoil and violence spreading south in Iraq. Insurer RSA was lifted by rumours it is looking to sell its Asian operations in an auction that could fetch up to $500m and draw a wide range of suitors. Meanwhile, Ashtead engaged in a round of profit taking after the industrial rental group posted record profit for the year to April 30th, helping earnings beat expectations comfortably. Kingfisher dropped after Oriel downgraded it from 'hold' to 'sell' with a target of 350p, while CRH was downgraded to neutral by Exane. Maximise your income and prepare for a brighter future Attend our free seminar, learn how to invest in property using a Small Self Administered Scheme (SSAS) and make your future easier and more affluent! Register here to attend our free seminar FTSE 100 - Risers Shire Plc (SHP) 3,660.00p +3.51% Morrison (Wm) Supermarkets (MRW) 192.60p +2.28% Whitbread (WTB) 4,259.00p +2.18% Tullow Oil (TLW) 872.00p +1.81% Lloyds Banking Group (LLOY) 77.99p +1.73% RSA Insurance Group (RSA) 492.00p +1.67% Barratt Developments (BDEV) 349.00p +1.51% G4S (GFS) 259.80p +1.37% Sainsbury (J) (SBRY) 321.90p +1.32% Smiths Group (SMIN) 1,285.00p +1.26% FTSE 100 - Fallers Ashtead Group (AHT) 831.50p -6.26% Kingfisher (KGF) 361.80p -2.19% Royal Mail (RMG) 478.40p -2.11% Friends Life Group Limited (FLG) 315.30p -2.02% Petrofac Ltd. (PFC) 1,250.00p -1.42% Sports Direct International (SPD) 765.50p -1.42% St James's Place (STJ) 758.00p -1.30% Weir Group (WEIR) 2,609.00p -1.25% Land Securities Group (LAND) 1,020.00p -0.97% Melrose Industries (MRO) 271.30p -0.95% FTSE 250 - Risers Kazakhmys (KAZ) 295.10p +3.91% Crest Nicholson Holdings (CRST) 337.00p +3.69% Infinis Energy (INFI) 221.80p +2.21% Rightmove (RMV) 2,169.00p +1.59% Ferrexpo (FXPO) 126.50p +1.52% Redrow (RDW) 255.00p +1.43% Entertainment One Limited (ETO) 303.30p +1.37% Daejan Holdings (DJAN) 4,717.00p +1.07% NMC Health (NMC) 445.60p +1.04% Investec (INVP) 526.50p +0.96% FTSE 250 - Fallers Xaar (XAR) 537.00p -27.68% Supergroup (SGP) 853.50p -5.69% Workspace Group (WKP) 571.00p -5.23% Grainger (GRI) 204.00p -4.98% Big Yellow Group (BYG) 460.60p -4.80% PayPoint (PAY) 1,086.00p -4.74% Foxtons Group (FOXT) 278.00p -4.30% St. Modwen Properties (SMP) 338.80p -4.21% Cranswick (CWK) 1,223.00p -4.15% esure Group (ESUR) 261.00p -4.11% PROVEN 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks finish higher after slate of euro-area data - Economic confidence in Eurozone improves - German investor sentiment falls - European car sales gain - UK inflation surprises to the downside - US inflation rises past forecasts FTSE 100: 0.18% DAX: 0.37% CAC 40: 0.58% FTSE MIB: 0.09% IBEX 35: 0.46% Stoxx 600: 0.26% European stocks jumped as reports showed Eurozone economic confidence rose and car sales in the euro-area gained. European car sales edged up 4.3% in May, driven by purchases of new models from Renault and Volkswagen, according to data from the European Automobile Manufacturers' Association today. Another report from the ZEW Institute showed Eurozone economic sentiment climbed to 58.4 in June from 55.2 a month earlier. German investor sentiment, on the other hand, dropped to 29.8 in June from 33.1 the prior month, missing forecasts for an increase to 35, ZEW data revealed. UK inflation falls to five-year low UK consumer prices dropped sharply in May with the rate of advance in prices slowing to a 1.5% year-on-year pace from 1.8% in the previous month, according to the Office for National Statistics (ONS). It marked the lowest reading since May 2009 and missed the consensus estimate for a reading of 1.7%. US inflation increases US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing estimates for gains of 0.2% and 1.9% respectively. Core prices, which exclude both energy and food, also rose more quickly than forecast, rising by 0.3% month-on-month and 2% year-on-year. Paul Dales, Senior US economist at Capital Economics said: "With core CPI inflation rising to 2% in May, from 1.8% in April, the [Federal Reserve] will have to acknowledge in tomorrow's policy statement that price pressures are building. The chances that it will hike interest rates before the middle of next year are increasing." The central bank will take its latest policy decision tomorrow and is expected to cut back its quantitative easing programme by a further $10bn per month and keep interest rates at 0.25%. Meanwhile, a report revealed housing starts fell by 6.5% month-on-month in May to reach an annualised rate of 1.001m. The consensus estimate had been for a reading of 1.033m. Iraq turmoil The US is deploying up to 275 military personal to Iraq to aid Baghdad in its battle against militant group Islamic State in Iraq and the Levant (ISIS). The UK is also planning to re-open its embassy in Iran as reflection of "increasing confidence" in the international relations, marking an "important step forward" with the country, according to Foreign Secretary William Hague. The news comes as ISIS has captured large swaths of territory around Baghdad. Brent crude futures rose $0.677 to $113.720 per barrel in afternoon trading amid concerns that Iraq tensions will disrupt oil supplies. Whitbread gains Whitbread was a high riser after first half sales at its Premier Inn hotels and Costa Coffee chain topped analysts' estimates. Rheinmetall rallied as the German automotive and defence-equipment supplier had its rating lifted to 'buy' from 'hold' by Berenberg Bank. A.P. Moeller-Maersk dropped after China blocked the formation of a global alliance by the world's three biggest shipping lines. Shire advanced after a report said it has hired Citigroup as it may receive takeover offers. Subsea slumped after Berenberg cut the offshore oil services provider to 'hold' from 'buy'. The euro fell 0.21% to $1.3545. Earn 16% in 1 year... Become an armchair developer, invest in one of the UK's most exclusive housing developments and earn over 16% per annum! Register here for further information US Market Report US open: Stocks mixed after inflation and housing starts data US stocks were mixed as investors weighed reports on consumer price inflation and housing starts as they attempted to gauge the health of the world's biggest economy. US consumer prices rose by 0.4% month-on-month and 2.1% year-on-year in May, surpassing estimates for gains of 0.2% and 1.9% respectively. Energy prices advanced by 0.9% on the month and by another 3.3% over the past year, while food prices gained 0.5% on the month and 2.5% on the year. Core prices, which exclude both energy and food, also rose more quickly than forecast, rising by 0.3% month-on-month and 2% year-on-year. Paul Dales, Senior US economist at Capital Economics said: "With core CPI inflation rising to 2% in May, from 1.8% in April, the [Federal Reserve] will have to acknowledge in tomorrow's policy statement that price pressures are building. The chances that it will hike interest rates before the middle of next year are increasing." The central bank will make its latest policy decision tomorrow. Analysts expect the Fed will cut back quantitative easing programme by a further $10bn per month and keep interest rates at 0.25%. Meanwhile, a report showed housing starts fell by 6.5% month-on-month in May to reach an annualised rate of 1.001m. The consensus estimate had been for a reading of 1.033m. Iraq turmoil The US is deploying up to 275 military personal to Iraq to aid Baghdad in its battle against militant group Islamic State in Iraq and the Levant (ISIS). The UK is also planning to re-open its embassy in Iran as reflection of "increasing confidence" in the international relations, marking an "important step forward" with the country, according to Foreign Secretary William Hague. The news comes as ISIL has captured large swaths of territory around Baghdad. West Texas Intermediate crude futures fell $0.178 to $106.710 per barrel amid fears the turmoil will disrupt oil supplies. Whitbread, Shire Whitbread rallied after sales at its Premier Inn hotels and Costa Coffee chain topped analysts' estimates. Shire jumped after a Reuters report said the pharmaceutical company hired Citigroup Inc. as it may receive takeover offers. Medtronic gained after both Morgan Stanley and Credit Suisse upgraded the stock after the $42.9bn takeover of rival Covidien announced yesterday. The US 10-year yield rose four basis points to 2.65%. Achieve your investment goals... Get 15% returns on this stunning waterfront apartment development. This unique opportunity in the heart of Manchester's Salford Quays and Media City (new home of the BBC) is one not to be missed! Register your details here to receive your FREE brochure Broker Tips Broker tips: Housebuilders, Real estate stocks, Burberry... British housebuilders are unlikely to take a major hit from a rise in interest rates, US broker JP Morgan Cazenove said on Tuesday. "Given we expect a rate hike to be associated with improving economic conditions, we expect limited impact on market conditions". Large UK property stocks, which are already trading at demanding valuations, could be set for a temporary de-rating on the back of "more challenging macro conditions", according to analysts at Deutsche Bank. The bank pointed out that property majors in the UK and across Continental Europe are trading at valuations "that are nearly as demanding as those at the peak of the credit boom". Among the UK-listed names, it sees the greatest downside to its price targets in Segro and Capital & Counties. Credit Suisse has maintained its 'neutral' stance on high-end fashion group Burberry, saying that recent currency movements are impacting it more than its luxury peers. "Since we do not see Burberry's superior organic sales growth translating into superior earnings growth, we see a 'neutral' rating as appropriate." Investec has upgraded its rating for Costa and Premier Inn owner Whitbread from 'sell' to 'hold' after a strong first-quarter update from the leisure group that beat forecasts. "A premium rating and key risks around incremental hotel returns dilution preclude a more positive stance, although the strength of trading across its UK brands leads us to remove Whitbread from our 'sell' list." Exchange operator London Stock Exchange (LSE) remains Morgan Stanley's preferred play across the European diversified financial sector. With an "undemanding" valuation compared with others in the industry, the bank has repeated its 'overweight' recommendation. JP Morgan Cazenove has downgraded Mitchells & Butlers (M&B) to 'neutral' from 'overweight' following the British pub group's £266m acquisition of 173 pubs from rival Orchid. JP Morgan said it believed the acquisition of the Orchid pubs made it unlikely that M&B would resume paying a dividend in either the 2013/14 or 2014/15 financial years.   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