Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Thursday, 30 October 2014 09:54:13 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Miners drag UK stocks lower, but Barclays gains London's stock exchange opened more or less flat on Thursday as heavy falls from mining stocks and BT offset gains from Barclays and St James's Place. The FTSE 100 was trading 0.1% lower at 6,449 in early deals. The subdued start follows a weak performance on Wall Street overnight as investors reacted to the expected removal of stimulus by the Federal Reserve, as it voted to end its quantitative easing programme. The Fed also opted to keep its interest rates unchanged, vowing to maintain them near zero a "considerable time". "The description of recent developments was noticeably more upbeat on activity and the labor market, but also somewhat more downbeat on the inflation picture," said analysts at Deutsche Bank. They said that the statement was consistent with its prediction for a rate hike in mid-2015. A raft of economic data will be in focus on Thursday, including Eurozone confidence figures, US gross domestic product estimates and US jobless claims. Barclays and St James's Place impress Barclays unveiled a third-quarter adjusted pre-tax profit well ahead of forecast as it held costs to a five-year quarterly low and made a £670m provision against fines for rigging forex and PPI mis-selling. The bank generated a profit for the third quarter of £1.59bn, up 14% on the year before and well ahead of the £1.1bn consensus prediction. Wealth manager St James's Place was a high riser after seeing strong inflows in its third quarter, helped by a big increase in demand for new ISA investments. Funds under management reached a record £49.1bn by 30 September, up 17% on the year before. Mining stocks including Randgold Resources, Fresnillo, Antofagasta and Anglo American were out of favour as metal prices declined on the back of a stronger dollar. Trader Toby Goar from Spreadex explained that after the Fed decision, "the 'cheap' dollars that had flooded the market are now being reduced and hence the dollar has appreciated against most major currencies". Telecoms titan BT Group was lower despite reporting second-quarter earnings above market forecasts as strong demand for fibre broadband and sports channels led to a decent jump in profits. Operating profits rose 1% to £1.45bn, but sales fell 2% to £4.83bn. Royal Dutch Shell slipped as investors shrugged off a bigger-than-expected 31% jump in third-quarter earnings to $5.8bn, as the market reacted to the news that chairman Jorma Ollila will step down after nine years. Transport group National Express rose after saying it is on track to meet its profit expectations for the full year after a 15% increase in third-quarter pre-tax profit. Also higher was Astrazeneca as its Xigduo XR type 2 diabetes treatment was approved for use in adults by the US Food and Drug Administration. UK & Europe Step Down Autocall 2 SG16 is a 6 year investment linked to the FTSE 100 and Euro Stoxx 50 Indices, which aims to generate a gross return of 10% per year (not compounded), and return your initial investment at Maturity, if not before See for yourself, here Market Movers techMARK 2,738.06 +0.13% FTSE 100 6,448.74 -0.08% FTSE 250 15,239.93 +0.04% FTSE 100 - Risers St James's Place (STJ) 709.50p +3.12% Barclays (BARC) 223.90p +1.54% Legal & General Group (LGEN) 226.90p +0.98% AstraZeneca (AZN) 4,486.00p +0.95% International Consolidated Airlines Group SA (CDI) (IAG) 388.00p +0.73% BAE Systems (BA.) 449.20p +0.69% Shire Plc (SHP) 4,100.00p +0.61% HSBC Holdings (HSBA) 631.70p +0.59% InterContinental Hotels Group (IHG) 2,309.00p +0.57% Compass Group (CPG) 991.50p +0.51% FTSE 100 - Fallers Randgold Resources Ltd. (RRS) 3,920.00p -2.51% Fresnillo (FRES) 733.50p -2.07% Anglo American (AAL) 1,326.50p -1.92% Antofagasta (ANTO) 693.00p -1.56% Glencore (GLEN) 318.80p -1.51% BT Group (BT.A) 370.70p -1.28% Petrofac Ltd. (PFC) 1,033.00p -1.15% Experian (EXPN) 936.00p -1.11% Standard Chartered (STAN) 981.10p -1.11% BG Group (BG.) 1,033.00p -1.10% FTSE 250 - Risers Countrywide (CWD) 469.60p +4.19% National Express Group (NEX) 244.00p +3.74% Croda International (CRDA) 2,275.00p +3.27% RPS Group (RPS) 239.50p +2.57% AL Noor Hospitals Group (ANH) 1,016.00p +2.32% Pace (PIC) 348.00p +2.17% Homeserve (HSV) 340.80p +2.01% Moneysupermarket.com Group (MONY) 195.40p +1.93% Infinis Energy (INFI) 216.90p +1.78% IP Group (IPO) 203.40p +1.75% FTSE 250 - Fallers Hochschild Mining (HOC) 102.80p -4.55% Afren (AFR) 89.50p -4.02% African Barrick Gold (ABG) 208.00p -3.70% Barratt Developments (BDEV) 402.40p -2.80% Centamin (DI) (CEY) 55.05p -2.57% Merlin Entertainments (MERL) 349.60p -2.35% Vedanta Resources (VED) 820.50p -2.15% Kazakhmys (KAZ) 222.40p -2.03% Go-Ahead Group (GOG) 2,451.00p -2.00% UK Event Calendar Thursday 30 October INTERIMS BT Group INTERIM DIVIDEND PAYMENT DATE Essentra, Partnership Assurance Group , Sprue Aegis, TT Electronics INTERIM EX-DIVIDEND DATE Booker Group, Development Securities, Games Workshop Group, Hansa Trust, Hilton Food Group, ITV, Lombard Risk Management, Lookers, M&C Saatchi, Moss Bros Group, ProVen Growth & Income VCT, ProVen VCT, Provident Financial, SQN Asset Finance Income Fund Limited, Tesco INTERNATIONAL ECONOMIC ANNOUNCEMENTS Business Climate Indicator (EU) (10:00) Continuing Claims (US) (12:30) Economic Sentiment Indicator (EU) (10:00) GDP (Advance) (US) (12:30) Initial Jobless Claims (US) (12:30) Unemployment Rate (GER) (08:55) Q2 BT Group Q3 Eurasia Drilling Co Ltd GDR (Reg S), First Quantum Minerals Ltd., Millennium & Copthorne Hotels, OJSC Megafon GDR (Reg S), Royal Dutch Shell 'A', Royal Dutch Shell 'B', Samsung Electronics Co Ltd (ATT) GDR (Reg S), Smith & Nephew, X5 Retail Group NV GDR (Reg S) GMS AFC Energy ANNUAL REPORT Pure Wafer IMSS Afren, Aviva, Barclays, Countrywide, Henderson Group, Kazakhmys, RPS Group DRILLING REPORT Kazakhmys EGMS Datang International Power Generation Co Ltd. AGMS Ashmore Group, Clinigen Group, Genesis Emerging Markets Fund Ltd Ptg NPV, MNC Strategic Investments, Pacific Horizon Inv Trust, Redde FINAL DIVIDEND PAYMENT DATE Produce Investments FINAL EX-DIVIDEND DATE AIREA, Barratt Developments, BlackRock Greater Europe Inv Trust, El Oro Ltd, Go-Ahead Group, NWF Group, Sabien Technology Group   Why is now such a good time to invest in US property? Castle Keep are now offering their expertise as US property fund managers to help private investors avoid the pitfalls of investing in an unfamiliar market. Find out for yourself and download their FREE US property investment guide Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks little changed as German unemployment falls unexpectedly European stocks were little changed as investors weighed German unemployment data and the Federal Reserve's decision to end its bond buying programme but keep interest rates unchanged. German unemployment fell 22,000 in October, compared with the 4,000 gain predicted by analysts. It followed a 12,000 increase a month earlier. The unemployment rate held at 6.7%, as expected. Elsewhere in Germany, inflation figures will be released in afternoon trading. Meanwhile, the market continued to process Wednesday night's announcement by the Federal Open Market Committee to end its monthly asset purchases amid an improvement in the labour market. The central bank reiterated its pledge to keep interest rates low for a "considerable time". "The decision to end its third round of quantitative easing came as absolutely no surprise to the markets, despite arguments in recent weeks from certain officials that the final taper could be delayed or the program even increased," said Alpari UK analyst Craig Erlam. "In reality, to do so would have been pointless and I think these comments were largely made to quell the excessive market volatility we were seeing and stop the panic selling that was making people lose all perspective." Thursday's attention in the US will now turn to the release of gross domestic product (GDP) and initial jobless claims. Analysts forecast US GDP rose an annualised 3% in the third quarter, after expanding 4.6% in the previous three months, while jobless claims increased in the week ended 25 October. Barclays gain on quarterly results Barclays advanced after reporting a rise in third-quarter pre-tax profit which beat market estimates. Renault edged higher as Europe's third-largest carmaker posted a rise in quarterly earnings. Deutsche Lufthansa dropped after reducing its 2015 profit forecast. Linde AG slumped after the industrial-gases company said it will miss full-year and 2016 profit targets. The euro fell 0.4% to $1.2581. Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit. US Market Report US close: Markets slide as Fed brings QE to an end US stocks slid back on Wednesday after the Federal Reserve announced its intention to keep interest rates unchanged for the foreseeable future. The Dow Jones Industrial Average closed 31.44 points down to 16,974.31, while the S&P 500 dropped 2.74 points to 1,982.31 and the Nasdaq closed 16.07 points down to 4,090.55 As widely expected, the Federal Reserve has announced the end of its bond buying programme and decided to keep interest rates unchanged. The US central bank has maintained its vow to keep interest rates near zero for a "considerable time". The likelihood of inflation running persistently below 2% has diminished somewhat since early this year, the Fed repeated. In one twist in the wording of its statement, when compared to that issued on 17 September, the Fed admitted that inflation will likely be held down in the near-term as a result of lower energy prices and other factors. The US economy has been performing well this year after a weak first quarter and economists are forecasting the best nine-month stretch of growth since 2005-2006, with growth expected over 3%. "On balance, the Fed believes it is getting closer to meeting the full employment side of its mandate, while it is not necessarily convinced it is losing ground in meeting the price stability side of its mandate," Paul Ashworth, chief US economist at Capital Economics, said. "We would say that was, if anything, a slightly hawkish shift. It's also perhaps telling that it was the dovish Narayana Kocherlakota who dissented at this vote, whereas in previous FOMC meetings this year it is the hawks who dissented." In corporate news, Facebook shares dropped 6.08% as investors showed concern over the firm's operating costs, even though the social media outfit's quarterly results exceeded estimates on Tuesday. Electronic Arts rose 3.82% on the heels of its results, while US Steel and Marriott International advanced 5.06% and 2.89% respectively after delivering better-than-expected results and Goodyear shares rose 5.40%. The tyre-maker reported lower third-quarter financial results as taxes and exchange rate headwinds limited profitability, though it beat analyst expectations and generated a profit in Latin America despite the economic turmoil in the region. InvenSense plummeted over 20% after the sensor firm fell well short of its targets, while Orbital Sciences dropped 16.79% after one of the company's rockets exploded soon after lift-off on Tuesday. Alibaba surpassed Wal-Mart in terms of market capitalisation but that did not stop shares from retreating 1.37%, while Twitter slid back 3.88% as a result of analysts' downgrades on Tuesday. Following the announcement from the Fed, the dollar advanced steadily against the pound, the euro and the yen, while gold futures slipped marginally to reach $1,211.90. West Texas intermediate and Brent crude futures both took rose over a percentage point, closing at just over $82 and just over $87 a barrel respectively. The yield on the 10-Year US Treasury note rose three basis point to 2.32%, while the yield on the 30-year Treasury bond dropped one basis point to 3.06 and the yield on the five-year Treasuries climbed eight basis points to 1.59. S&P 500 - Risers Newfield Exploration Co (NFX) $32.58 +10.89% Goodyear Tire & Rubber Co. (GT) $23.03 +5.11% United States Steel Corp. (X) $40.08 +5.06% Total System Services Inc. (TSS) $32.52 +4.47% Electronic Arts Inc. (EA) $38.91 +3.82% Dentsply International Inc. (XRAY) $49.32 +3.66% Aetna Inc. (AET) $79.76 +3.28% Williams Companies Inc. (WMB) $55.76 +3.18% Western Digital Corp. (WDC) $95.80 +2.92% Ameriprise Financial Inc. (AMP) $123.76 +2.88% S&P 500 - Fallers Owens-Illinois Inc. (OI) $23.54 -9.39% Facebook Inc. (FB) $75.86 -6.08% Garmin Ltd. (GRMN) $53.96 -5.66% Allegheny Technologies Inc. (ATI) $31.39 -5.42% Newmont Mining Corp. (NEM) $20.80 -4.81% Vertex Pharmaceuticals Inc. (VRTX) $110.04 -3.53% Weyerhaeuser Co. (WY) $33.08 -3.08% Eastman Chemical Co. (EMN) $74.53 -2.64% Regeneron Pharmaceuticals Inc. (REGN) $387.51 -2.61% F5 Networks Inc. (FFIV) $117.12 -2.60% Dow Jones I.A - Risers Pfizer Inc. (PFE) $29.49 +1.38% Coca-Cola Co. (KO) $40.95 +0.96% Johnson & Johnson (JNJ) $105.56 +0.73% Merck & Co. Inc. (MRK) $56.20 +0.63% Intel Corp. (INTC) $33.92 +0.53% American Express Co. (AXP) $88.35 +0.39% Unitedhealth Group Inc. (UNH) $92.92 +0.30% Microsoft Corp. (MSFT) $46.62 +0.28% AT&T Inc. (T) $34.40 +0.20% Cisco Systems Inc. (CSCO) $24.10 +0.15% Dow Jones I.A - Fallers E.I. du Pont de Nemours and Co. (DD) $66.80 -1.69% Caterpillar Inc. (CAT) $100.19 -0.96% Visa Inc. (V) $214.66 -0.95% General Electric Co. (GE) $25.66 -0.85% JP Morgan Chase & Co. (JPM) $59.27 -0.60% Nike Inc. (NKE) $91.95 -0.54% Exxon Mobil Corp. (XOM) $94.60 -0.53% Walt Disney Co. (DIS) $89.53 -0.44% Boeing Co. (BA) $123.08 -0.43% United Technologies Corp. (UTX) $105.85 -0.40% Nasdaq 100 - Risers Western Digital Corp. (WDC) $95.80 +2.92% Seagate Technology Plc (STX) $60.21 +1.24% Monster Beverage Corp (MNST) $98.65 +1.23% Applied Materials Inc. (AMAT) $21.48 +1.08% Amgen Inc. (AMGN) $158.89 +1.08% Linear Technology Corp. (LLTC) $41.46 +1.00% Automatic Data Processing Inc. (ADP) $77.92 +0.85% Dish Network Corp. (DISH) $61.95 +0.85% Keurig Green Mountain Inc (GMCR) $147.87 +0.83% Avago Technologies Ltd. (AVGO) $84.88 +0.81% Nasdaq 100 - Fallers Facebook Inc. (FB) $75.86 -6.08% Garmin Ltd. (GRMN) $53.96 -5.66% Vertex Pharmaceuticals Inc. (VRTX) $110.04 -3.53% Regeneron Pharmaceuticals Inc. (REGN) $387.51 -2.61% F5 Networks Inc. (FFIV) $117.12 -2.60% Verisk Analytics Inc. (VRSK) $61.53 -2.55% Charter Communications Inc. (CHTR) $153.65 -2.38% Gilead Sciences Inc. (GILD) $110.75 -2.38% Netflix Inc. (NFLX) $378.10 -2.10% £12,000 return in 6 years See your money fly in a proven UK-based, in-demand alternative investment opportunity. Only recently made available to the general market, you can benefit from up to 12% returns and a buyback option in year 5 – all in a VAT exempt, hands-off, hassle-free and secure investment package. Interested? Click here for more information Thursday newspaper round-up: Ebola, Fed, RBS The Ebola outbreak in west Africa could have reached a turning point, according to the director of the Wellcome Trust, the Guardian reported on Thursday. Dr Jeremy Farrar, the director of the trust, which is funding a series of fast-tracked trials of vaccines and drugs against the virus, said that while the short-term future remained extremely difficult, the response from the international community was cause for cautious optimism. “The progress made is preliminary and uncertain; even if ultimately successful it will not reduce mortality or stop transmission for some time," he said. "We are not close to seeing the beginning of the end of the epidemic but [several] developments offer hope that we may have reached the end of the beginning.” The US Federal Reserve has brought its $4.5trn (£2.8trn) quantitative easing programme to an end, the Daily Telegraph reported. The programme, introduced more than five years ago to steer the US economy through the financial crisis, signalled a drastic change for US monetary policy, hugely swelling the Fed’s balance sheet in a bid to prop up a financial system that was in complete disarray. “The committee judges that there has been a substantial improvement in the outlook for the labour market since the inception of its current asset purchase programme," the Fed said in a statement. People applying for pay-day loans have had a total of more than £1m taken from their bank accounts by “middlemen” during the last few months, the Financial Times reported. Royal Bank of Scotland has warned that over 16,000 of its customers and at its subsidiary NatWest have seen money withdrawn from their accounts by brokers offering payday loans since July 2014. "We’ve seen large numbers of customers incurring charges they don’t expect when using a payday loan broker since July this year," said Terry Lawson, head of fraud and chargebacks at RBS and NatWest. “We are reaching out to customers to warn them of these fees and taking steps to block the transactions altogether, but these are sophisticated organisations." The number of households in the UK which moved from having no adults in work to having at least one employed dropped by 1.4% in the second quarter when compared with the previous year, to reach 271,000. That marks the largest drop since records began 18 years ago and constitutes the fourth consecutive year in which they have fallen, The Guardian writes. Rising property prices and increased job security are expected to yield an unexpected dividend for retailers this Christmas, according to consulting group Verdict. It also means that shoppers should ready themselves to face packed pavements this holiday season. The total amount of spending is forecast to rise 2.6% to £90.7bn. Commenting on the figures, Verdict analyst Patrick O’Brien said: “It’s not a spectacular picture but it’s a positive one,” The Times reports. Over the year to September only 0.22% of adults in Britain became insolvent, the least since 2006. Bankruptcies thus dropped to a 15-year low and were off by 19% in the third quarter. That is the lowest rate since before the financial crisis, according to the Insolvency Service. The main reason for that decrease are the continued low interest rates, writes The Times.   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. 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Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 29 October 2014 17:45:35 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. 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 Fed meeting result Investors showed a degree of confidence in the Wednesday session as markets awaited the outcome of the latest Federal Open Market Committee (FOMC) meeting. Steady gains were seen throughout much of the session, with a slight weakening towards the close, although the Footsie ultimately closed up 51.7 points at 6,453.87. "There was an underlying confidence in European trading today in the expectation that despite ending its quantitative easing programme the Federal Reserve will keep monetary policy accommodative for a considerable period of time," said CMC market analyst Jasper Lawler. To some extent, the meeting distracted traders from the bigger-than-expected slowdown in UK mortgage approvals and a profit warning from Next. Total lending to individuals rose by £2.7bn or 0.2% month-on-month in September, to reach £1.46trn according to the Bank of England, while total mortgage lending was higher by 0.1% over the same month, or £1.8bn, hitting 1,294bn. However, the number of mortgage approvals for home purchase slipped to 61,267 - a 16-month low - from the 64,054 seen in the previous month, below the 62,000 forecast by economists. "The new mortgage regulations implemented by the Bank of England have cut some prospective buyers out of the market and limited others in the size of the mortgage that's obtainable [which] has tipped the balance a little between buyers and sellers and house prices have come down accordingly since the summer," Lawler explained. "For now the slowdown in UK mortgages given would appear to be directly related to new regulations on lenders, but if the economic recovery continues to cool and house prices continue to slip then the slowdown in mortgages could reflect a genuine decrease in demand for housing." JP Morgan comments lift Intertek JP Morgan analysts reiterated their 'overweight' recommendation on shares of testing services firm Intertek following a sales meeting with the company's chief executive officer, Wolfhart Hauser, the previous afternoon. "It was an interesting meeting and it seemed to us that, after a weak first half, trading should improve somewhat in the second half and then into next year," the analysts said. TUI Travel shares also moved firmly higher after the majority of its shareholders approved the merger with TUI AG. Tesco rose despite the news the Serious Fraud Office will begin an investigation into its profit misstatement. Meanwhile, Royal Mail declined after Credit Suisse reiterated its 'underperform' rating. Capita declined after missing out on Ministry of Justice contracts after FTSE 250 group Interserve became the only UK-listed group to be named as a preferred bidder. Capita had placed bids for five contracts. A profit warnings from Next hit fellow retailers Marks & Spencer and Supergroup, although Next itself came off its intra-day low to end the day with minimal losses. The Share Centre Trade Online – Just £7.50 Per Deal Fix Your Dealing Commission Now Simply Easier (Capital at Risk) Market Movers techMARK 2,734.44 +0.95% FTSE 100 6,453.87 +0.81% FTSE 250 15,234.14 +0.73% FTSE 100 - Risers Intertek Group (ITRK) 2,709.00p +5.08% TUI Travel (TT.) 395.40p +3.32% IMI (IMI) 1,204.00p +2.56% Experian (EXPN) 946.50p +2.38% Sainsbury (J) (SBRY) 250.60p +2.16% Old Mutual (OML) 190.00p +2.15% Tesco (TSCO) 173.35p +2.09% Imperial Tobacco Group (IMT) 2,645.00p +2.04% Rolls-Royce Holdings (RR.) 802.00p +2.04% Aberdeen Asset Management (ADN) 421.50p +2.01% FTSE 100 - Fallers Capita (CPI) 1,082.00p -6.48% Royal Mail (RMG) 437.70p -3.44% International Consolidated Airlines Group SA (CDI) (IAG) 385.20p -2.48% Rio Tinto (RIO) 2,986.50p -1.22% Barclays (BARC) 220.50p -1.12% Fresnillo (FRES) 749.00p -1.12% St James's Place (STJ) 688.00p -1.01% CRH (CRH) 1,362.00p -0.95% Whitbread (WTB) 4,286.00p -0.88% Marks & Spencer Group (MKS) 404.00p -0.64% FTSE 250 - Risers Saga (SAGA) 160.00p +5.61% Genus (GNS) 1,251.00p +5.30% IP Group (IPO) 199.90p +4.93% COLT Group SA (COLT) 130.90p +3.89% Booker Group (BOK) 136.70p +3.80% Ferrexpo (FXPO) 89.65p +3.58% Pets at Home Group (PETS) 194.60p +3.51% Serco Group (SRP) 297.60p +3.41% Spectris (SXS) 1,767.00p +3.33% Interserve (IRV) 614.50p +3.28% FTSE 250 - Fallers Playtech (PTEC) 708.00p -4.26% Supergroup (SGP) 889.00p -3.58% Countrywide (CWD) 450.70p -3.08% Balfour Beatty (BBY) 154.60p -2.46% PayPoint (PAY) 866.00p -2.15% Spire Healthcare Group (SPI) 275.00p -1.79% Evraz (EVR) 129.80p -1.67% SSP Group (SSPG) 239.40p -1.64% Infinis Energy (INFI) 213.10p -1.57% TSB Banking Group (TSB) 261.50p -1.51% Why is now such a good time to invest in US property? Castle Keep are now offering their expertise as US property fund managers to help private investors avoid the pitfalls of investing in an unfamiliar market. Find out for yourself and download their FREE US property investment guide Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks little changed ahead of FOMC decision European stocks were little changed as the market braced for the latest policy decision by the Federal Reserve. The Federal Open Market Committee (FOMC) is expected to end its monthly bond purchase programme but keep interest rates unchanged at 0.25%. The Fed has vowed to keep interest rates low for a considerable time. "There was an underlying confidence in European trading today in the expectation that despite ending its quantitative easing program the FederalReserve will keep monetary policy accommodative for a considerable period of time," said CMC Markets analyst Jasper Lawler. In the euro-area, the European Central Bank's (ECB) lending survey showed banks reported a net easing of credit conditions in the third quarter. "For the second time in a row, a small net percentage of euro area banks (3%, after 2% in the previous quarter) reported an easing of credit standards on loans to enterprises, as compared with an overall tightening in the period from mid-2007 to early 2014," the ECB revealed. Deutsche Bank, Total Deutsche Bank declined as the German lender swung to a loss in the third quarter, reflecting legal costs. Total SA advanced after news chief executive Patrick Pouyanne said he'll continue slashing costs after reporting a slowdown in third quarter profits. STMicroelectronics NV dropped as Europe's largest semiconductor maker said fourth-quarter sales will fall around 3.5% from the previous period due to weaker demand. TUI gained after the shareholders of TUI Travel Plc approved proposed merger terms for the two companies. Fiat Chrysler jumped on news the company plans to spin off Ferrari. The euro rose 0.16% to $1.2754. Oil prices not a concern, says OPEC Speaking from the London Oil&Money conference OPEC Secretary General Abdalla Salem el-Badri signalled the cartel does not have the intention of cutting its output anytime soon. He also seems to have stated quite clearly that OPEC is, at least in part, taking aim at the US shale industry. He added that the recent drop in oil prices was not a major concern. Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit. US Market Report US open: Markets fluctuate ahead of Fed's decision US stocks fluctuated on Wednesday, as investors awaited a decision from the Federal Open Market Committee that is expected to end the Fed's bond-buying program. At 10:06: in New York, the Dow Jones Industrial Average was 40.45 points up to 17,046.20, while the S&P 500 was 2.74 higher at 1,987.79 and the Nasdaq was 10.10 points down to 4,096.529. Federal Reserve officials will meet at 2pm Eastern Time (4pm GMT) and are expected to announce the end of the bond-buying program. Yet traders were adopting a more bullish approach early on Wednesday, as they anticipated the Fed would be dovish in its forward guidance. In corporate news, Facebook shares dropped sharply as investors showed concern over the firm's operating costs, even though the social media outfit's quarterly results exceeded estimates on Tuesday. Electronic Arts rose sharply on the heels of its results, while US Steel and Marriott International both advanced after delivering better-than-expected results and Goodyear shares rose steadily. The tyre-maker reported lower third-quarter financial results as taxes and exchange rate headwinds limited profitability, though it beat analyst expectations and generated a profit in Latin America despite the economic turmoil in the region. InvenSense plummeted over 20% after the sensor firm fell well short of its targets, while Orbital Sciences dropped over 10% before the bell after one of the company's rockets exploded soon after lift-off on Tuesday. Alibaba surpassed Wal-Mart in terms of market capitalisation but that did not stop shares from retreating slightly, while Twitter slid further back as a result analysts' downgrades on Tuesday. The dollar advanced slightly against the pound but fell against the euro and the yen, while gold futures slipped marginally to reach $1,224.00. West Texas intermediate and Brent crude futures both took small steps forward, trading at just over $82 and just over $87 a barrel respectively. £12,000 return in 6 years See your money fly in a proven UK-based, in-demand alternative investment opportunity. Only recently made available to the general market, you can benefit from up to 12% returns and a buyback option in year 5 – all in a VAT exempt, hands-off, hassle-free and secure investment package. Interested? Click here for more information Broker Tips Broker tips: Intertek, Next, StanChart JP Morgan on Wednesday analysts Robert Plant, Chris Gallagher and Jolyon Wellington reiterated their 'overweight' recommendation on shares of testing services firm Intertek. That followed a meeting with the company's chief executive officer, Wolfhart Hauser, on Tuesday afternoon. "It was an interesting meeting and it seemed to us that, after a weak first half, trading should improve somewhat in the second half and then into next year," the analysts said. Management reiterated its revenue guidance from the first half results presentation, saying the outlook for the second half was better and they expect growth in the range of between 2% and 3%. Nevertheless, the chemicals division is expected to still see a decline in the second half of this year, but to then flatten out in 2015 and subsequently improve in 2016. As for the more subdued outlook for minerals at Intertek than at rival SGS, the broker pointed out the fact that the two companies have different product and geographic exposures. Intertek was also especially affected by the nickel export ban in Indonesia. Lastly, JP Morgan emphasised how the business appears to have become more cyclical over the last decade, as the more stable prototype testing business's share of revenues has decreased from 90% of revenues to 60%. In parallel, the company has been expanding into more cyclical minerals testing within the commodities division and energy infrastructure within Industry & Assurance. Unfortunately, fashion retailer Next is not due to hold a press conference call following Wednesday's disappointing figures, writes Brewin Dolphin's Nicla di Palma. The company reported sales for the third quarter which were higher by 5.4%, well below the 10% which management had been expecting. Executives at the firm blamed "unseasonably warm weather" for the results. Indeed, people are not in the mood to buy winter clothes. That observation is consistent with the general commentary coming out of the retail sector. However, analysts at the broker are concerned that the company cannot continue to grow at double digit rates given the size which it has already reached - with a market a share of 7.5% in the UK. Smaller more nimbler players such as Ted Baker, on the other hand, registered strong growth despite the spell of warm weather. Broker Charles Stanley has lowered its recommendation on shares of Standard Chartered to 'hold'. That follows the "stark" reversal by management on its outlook for underlying profits in the second half of the year. Just a few months ago it had been saying that momentum was ahead of that seen in the second half of 2013. "With this latest disappointment, management have a lot to do to convince the market that these initiatives are not just further promises of "jam tomorrow," it said. In a more positive vein, analyst Minal Shah pointed out the fact that management has ruled out the need for an equity issue, while also acknowledging the importance of the dividend to shareholders. Furthermore, the shares are now trading at just one times historical book value, and offer a yield above 5%, in comparison to 1.3 times for HSBC, which has a similar yield. That may mean that Tuesday's dislocation, on the heels of a weak quarter for "lumpy" corporate impairments, may offer a "good" entry point for a switch trade, Shah explained.   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, 29 October 2014 10:01:18 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Starts move higher ahead of US FOMC Wednesday's session is expected to see a continuation of the previous day's gains, ahead of the latest policy decision announcement by the Federal Open Market Committee (FOMC), this evening. As of 09:20 the FTSE 100 was trading around 23 points higher than Tuesday's close at 6,432. The gains were being driven in part by US data. The FOMC meeting, which kicked off on Tuesday will be concluded on Wednesday, when the central bank will announce whether it will end the remaining $15bn of monthly bond buys. In the view of chief market analyst at CMC Markets, Michael Hewson, investors can expect the Fed to call time on the purchases, but predicts that "in an attempt to push out interest rate expectations, it will probably leave the language of the statement unchanged". Alpari UK market analyst Craig Erlam observed that the mood leading up to the announcement seems to indicate that people are anticipating a more dovish Fed "in response to the slowdown in the Eurozone and the disinflation that has been gripping many of the major economies". "Expectations are far more dovish than what we had a couple of months ago before that sell-off in the markets knocked everyone's confidence," he said. "If they're correct though, this is positive for the markets and could help them push beyond the current highs if confirmed by the Fed." Shell Midstream Partners prices NY IPO above expected range Back in the UK and in company news, clothing retailer Next warned on profits after warmer weather led to much weaker sales in September and October more than offsetting an encouraging August. As a result, sales in the third quarter increased by just 5.4%, versus the company's original expectation for a gain of 10%. Given the recent volatility in trading, the firm has lowered its guidance for fourth quarter and hence full year sales. It reduced its full year profit guidance as well, by 3% to £770m, from £795m. Standard Life reported a 13% increase in fee revenue from continuing operations over the nine months to the end of September, to hit £1,032m. That came as assets under administration from continuing operations increased to £29bn, driven by net inflows of £4.3bn and the acquisition of Ignis Asset Management. Management highlighted how the increased focus on fee business, which the disposal of its Canadian operations will allow, will enable it to return £1.75bn of capital to shareholders. Johnson Matthey has agreed to acquire the battery materials business of Clariant AG for $75m. The deal, which is expected to complete early in 2015, covers all of the assets of Clariant's Energy Storage business including its manufacturing facility in Candiac, Quebec, an R&D centre and pilot plant in Moosburg, Germany together with the customer order book and a substantial IP portfolio. The Share Centre Trade Online – Just £7.50 Per Deal Fix Your Dealing Commission Now Simply Easier (Capital at Risk) Market Movers techMARK 2,706.66 +0.69% FTSE 100 6,404.34 +0.64% FTSE 250 15,150.72 +0.73% FTSE 100 - Risers Mondi (MNDI) 1,011.00p +2.43% Royal Mail (RMG) 452.60p +1.98% Ashtead Group (AHT) 1,011.00p +1.86% Morrison (Wm) Supermarkets (MRW) 154.50p +1.85% Dixons Carphone (DC.) 386.00p +1.82% GKN (GKN) 309.80p +1.77% St James's Place (STJ) 686.00p +1.71% Sainsbury (J) (SBRY) 244.50p +1.71% ITV (ITV) 202.40p +1.71% CRH (CRH) 1,386.00p +1.69% FTSE 100 - Fallers Standard Chartered (STAN) 1,015.00p -7.31% Lloyds Banking Group (LLOY) 74.06p -1.70% BG Group (BG.) 1,040.00p -0.29% FTSE 250 - Risers Ocado Group (OCDO) 236.20p +3.42% NMC Health (NMC) 497.80p +3.30% Afren (AFR) 94.55p +2.77% UBM (UBM) 549.50p +2.52% Britvic (BVIC) 664.50p +2.31% Bodycote (BOY) 601.00p +2.12% Dunelm Group (DNLM) 828.00p +2.10% Rotork (ROR) 2,496.00p +2.09% AL Noor Hospitals Group (ANH) 1,014.00p +2.06% Bank of Georgia Holdings (BGEO) 2,551.00p +2.04% FTSE 250 - Fallers Synthomer (SYNT) 197.00p -7.42% Dignity (DTY) 1,546.00p -1.53% F&C Commercial Property Trust Ltd. (FCPT) 124.70p -0.95% Petra Diamonds Ltd.(DI) (PDL) 168.50p -0.94% Rank Group (RNK) 161.40p -0.92% Morgan Advanced Materials (MGAM) 284.20p -0.70% Evraz (EVR) 127.30p -0.70% Senior (SNR) 255.70p -0.62% Alent (ALNT) 327.00p -0.61% UK Event Calendar Wednesday 29 October INTERIMS Braemar Shipping Services, C&C Group, JZ Capital Partners Ltd, Tissue Regenix Group INTERIM DIVIDEND PAYMENT DATE Amiad Water Systems Ltd, Manchester Building Society QUARTERLY PAYMENT DATE CQS Diversified Fund Ltd Ord NPV £ INTERNATIONAL ECONOMIC ANNOUNCEMENTS Crude Oil Inventories (US) (14:30) FOMC Interest Rate (US) (18:00) MBA Mortgage Applications (US) (11:00) Q3 CSR, Talvivaara Mining Company (CDI) GMS Finsbury Food Group FINALS Redefine International IMSS Johnston Press, Next, Standard Life DRILLING REPORT Antofagasta AGMS Arcontech Group, Goldplat, Murray Income Trust, New World Oil And Gas, Progility, Ricardo, Sacoven TRADING ANNOUNCEMENTS Stagecoach Group, Standard Life UK ECONOMIC ANNOUNCEMENTS Consumer Credit (09:30) M4 Money Supply (09:30) M4 Sterling Lending (09:30) Mortgage Approvals (09:30)   Why is now such a good time to invest in US property? Castle Keep are now offering their expertise as US property fund managers to help private investors avoid the pitfalls of investing in an unfamiliar market. Find out for yourself and download their FREE US property investment guide Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rally ahead of US policy decision European stocks advanced as investors awaited the US Federal Reserve's latest policy decision. The Fed is expected to end its monthly bond purchase programme but keep interest rates unchanged at 0.25%. "It's FOMC decision day and this will be keenly watched as we mark a historical end to the Federal Reserve's massive quantitative easing programme," said FX Pro's Angus Campbell. "Whilst there's no press conference that follows the decision, the key element to watch will be the statement to see if there's any hint of when rates will start to rise. But hopes maybe dashed as we can expect the dovish tone to remain, in particular the inclusion of the phrase "considerable time", so a reassertion of dollar strength might take some time yet." Sanofi slides after CEO ousted Sanofi declined after the French drugmaker removed chief executive Chris Viehbacher. Total SA advanced after news chief executive Patrick Pouyanne said he'll continue slashing costs after reporting a slowdown in third quarter profits. Oil-services firm Fugro slumped after saying third-quarter results are below expectations. The euro fell 0.05% to $1.2727. Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit. US Market Report US close: Markets rise after better-than-expected earnings US stocks advanced on Tuesday as investors were buoyed by better-than-expected corporate earnings, ahead of the Federal Reserve's two-day policy meeting. The Dow Jones Industrial Average closed 187.81 points up at 17,005.75, breaking the 17,000 threshold for the first time since 3 October, while the S&P 500 rose 23.41 points up to 1,985.05 and the Nasdaq closed 60.61 points up to 4,106.62. According to data released on Tuesday, US consumer confidence rose to 94.5 in October, up from 89 in September and topping estimates that had forecast an 87.3 reading. Home-price growth declined in August, as the S&P/Case-Shiller 20-City Home Price Index fell 0.15%, against expectations of a 0.2% increase. The reading marked the fourth consecutive monthly decline and left the index up 5.6% year-on-year as 12 of the 20 metropolitan statistical areas reported a decrease during the period. The slowdown in the pace of home price appreciation comes after prices rose consistently for much of the previous two years. Meanwhile, durable goods orders fell 1.3% in September, below consensus expectations of a 0.5% increase. Excluding transportation, orders were also weaker-than-expected, declining 0.2% against a predicted 0.8% increase, while core capital goods orders fell 1.7% in September and August figures were revised downward from 0.6% to 0.3%. In corporate news, Amgen rose 6.07% after announcing it will buy back more shares and raise its dividend, while Parker Hannifin rose 4.87% after lifting its guidance for 2015. Twitter plummeted 9.84% as the social media giant was hit by downgrades from several analysts on Tuesday, after its fourth-quarter revenue forecast came slightly under analysts' expectations, and growth in new users slowed in the third quarter. Whirlpool shares fell after earnings per share missed expectations, before rebounding to close the day 6.77% up, while Kohl's shares dropped 6.64% after the retailer said its annual profit will be at the lower end of its forecasts, while rail and airlines stocks gained ground. Apple advanced 1.55% after Alibaba Group Holding chief executive officer Jack Ma announced he was interested in cooperating with the technology giants on financial payments. The dollar was in retreat against the pound and the euro, but rose marginally against the yen. Gold futures retreated slightly to $1,228.30, while West Texas intermediate and Brent crude rose slightly, closing at just under $81 a barrel and just over $86 a barrel respectively. The yield on the 10-year US Treasury note rose three basis points to 2.29, while the yield on the 30-year note gained the same margin to 3.07 and the yield on the five-year Treasuries advanced by two basis points to 1.51. S&P 500 - Risers AutoNation Inc. (AN) $55.58 +6.91% Cummins Inc. (CMI) $144.59 +6.81% Whirlpool Corp. (WHR) $168.06 +6.77% Goodyear Tire & Rubber Co. (GT) $21.90 +6.26% Amgen Inc. (AMGN) $157.19 +6.07% First Solar Inc. (FSLR) $57.38 +5.69% Allegheny Technologies Inc. (ATI) $33.19 +5.30% United States Steel Corp. (X) $38.15 +5.10% Juniper Networks Inc. (JNPR) $20.71 +5.02% Parker-Hannifin Corp. (PH) $122.95 +4.87% S&P 500 - Fallers Kohls Corp. (KSS) $54.66 -6.64% Coach Inc. (COH) $34.00 -5.95% Starwood Hotels & Resorts Worldwide Inc. (HOT) $76.44 -5.68% Freeport-McMoRan Inc (FCX) $29.03 -4.16% Masco Corp. (MAS) $22.14 -3.61% Plum Creek Timber Co. (PCL) $40.16 -2.88% Aetna Inc. (AET) $77.23 -2.46% Regeneron Pharmaceuticals Inc. (REGN) $397.89 -2.28% Macy's Inc. (M) $57.27 -2.09% Eli Lilly and Company (LLY) $64.83 -2.07% Dow Jones I.A - Risers Caterpillar Inc. (CAT) $101.16 +2.66% United Technologies Corp. (UTX) $106.27 +2.00% Chevron Corp. (CVX) $117.13 +1.83% JP Morgan Chase & Co. (JPM) $59.63 +1.69% Walt Disney Co. (DIS) $89.93 +1.67% Intel Corp. (INTC) $33.74 +1.63% American Express Co. (AXP) $88.01 +1.59% Visa Inc. (V) $216.71 +1.55% Exxon Mobil Corp. (XOM) $95.10 +1.48% General Electric Co. (GE) $25.88 +1.41% Dow Jones I.A - Fallers Merck & Co. Inc. (MRK) $55.85 -1.06% Coca-Cola Co. (KO) $40.56 -0.49% Wal-Mart Stores Inc. (WMT) $76.35 -0.31% Nasdaq 100 - Risers Tesla Motors Inc (TSLA) $242.77 +9.52% Vimpelcom Ltd Ads (VIP) $6.32 +6.40% Amgen Inc. (AMGN) $157.19 +6.07% Baidu Inc. (BIDU) $228.96 +4.11% F5 Networks Inc. (FFIV) $120.25 +4.03% Akamai Technologies Inc. (AKAM) $57.15 +3.36% Vodafone Group Plc ADS (VOD) $32.93 +3.26% Avago Technologies Ltd. (AVGO) $84.20 +3.22% Cognizant Technology Solutions Corp. (CTSH) $46.93 +3.10% Intuitive Surgical Inc. (ISRG) $491.83 +2.96% Nasdaq 100 - Fallers Regeneron Pharmaceuticals Inc. (REGN) $397.89 -2.28% Staples Inc. (SPLS) $12.36 -0.80% Biogen Idec Inc. (BIIB) $318.03 -0.61% Sirius XM Holdings Inc (SIRI) $3.33 -0.60% Monster Beverage Corp (MNST) $97.45 -0.45% Ross Stores Inc. (ROST) $80.32 -0.37% £12,000 return in 6 years See your money fly in a proven UK-based, in-demand alternative investment opportunity. Only recently made available to the general market, you can benefit from up to 12% returns and a buyback option in year 5 – all in a VAT exempt, hands-off, hassle-free and secure investment package. Interested? Click here for more information Wednesday newspaper round-up: BoE, Vodafone, EU referendum The Bank of England deputy governor Jon Cunliffe has said the BoE can afford to keep interest rates low for longer than previously thought, the Guardian reported on Wednesday. Speaking at an event marking his first year on the monetary policy committee on Tuesday, Cunliffe said factors such as weaker growth mean the current level [of Bank Rate] can be maintained for a longer period than previously thought. “The softening in the pay and inflation data, together with the weaker external environment, for me implies that we can afford to maintain the current degree of monetary stimulus for a longer period than previously thought,” Cunliffe said in a speech to the Cambridge Society for Economic Pluralism. Vodafone has been accused of illegally withholding a report on its £6bn takeover of Kabel Deutschland, the Daily Telegraph reported. US hedge fund Elliot said the firm's actions were part of a “pattern of obstructing” efforts by shareholders to uncover the details of the deal and it has now decided to try to extract a premium for the shares compared with what Vodafone paid for the rest of the German cable operator. On Tuesday, Eliot said Kabel Deutschland had repeatedly refused to hand over a special auditor’s report since it was delivered to management at the end of September, adding that it had applied to a court in Munich for the document to be released immediately. The Conservative party's plans to enshrine a European Union (EU) referendum in law have fallen apart, amid a Coalition row, the Independent reported. The European Union (Referendum) Bill, which aimed at creating an obligation for the next government to hold a vote on Britain's EU membership by 2017, cleared its first hurdle in Parliament earlier this month and was due to return to the Commons later in the current Parliamentary session. The Bill, however, has now collapsed, as Tory MPs have accused the Lib Dems of deliberately stopping the legislation in its tracks by demanding backing for reform of the so-called bedroom tax as the price to pay for their for support. Balfour Beatty's annual company meeting was unusually colurful this year, after one attendee called the chairman a "corporate psychopath". He was protesting against the firm's decision to sell Parsons Brinckerhoff, Balfour’s American project management division, to WSP Global, for £820m. He also accused Marshall of an “appalling track record”. The shareholder was duly escorted to the lifts at the London offices of Goldman Sachs. Nevertheless, nearly the entire group of investors present voted for the sale, The Times reports. The recent accounting scandal at Tesco has set off alarm bells ringing at the multiple multinational food and drink manufacturers which supply the grocer, to such an extent that some have flown in audit teams to run the rule over their UK operations. There is no suggestion of wrongdoing among the suppliers. However, there are questions in the industry about how a black hole of that scale might have emerged at Britain’s biggest retailer, and whether there are financial repercussions for its suppliers, according to The Daily 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