Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 25 September 2015 17:30:20 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Fisher Will you be able to retire in comfort? Download the 15-Minute Retirement Plan by Fisher Investments. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks increase as US GDP revised higher, Yellen signals rate hike London stocks finished Friday's session in positive territory after figures US gross domestic product for the second quarter was unexpectedly revised higher, adding to the case for an interest rate hike later this year. The third and final estimate of second quarter US GDP was revised to show an annualised 3.9% increase, up from a previous estimate of 3.7%. Analysts had been expecting no change. "The GDP numbers therefore confirm the Fed's rosy view that the US economy is in fine health," said Chris Williamson, chief economist at Markit. "However, this would be the Fed looking at the economy through the rear-view mirror once again. The recent survey data raise questions over the extent to which growth is already waning." A separate report showed US consumer confidence in September was higher than originally estimated but remained markedly below last month's level. The final reading of consumer sentiment was revised higher to 87.2 from a preliminary reading of 85.7, according to the University of Michigan, coming in slightly above analysts' expectations for a print of 87.0 but well below the 91.9 level reached in August. Momentum in the US services sector petered out in September, according to Markit. The seasonally adjusted Flash US Services purchasing managers' index declined from 56.1 to 55.6, in line with analysts' expectations. The data comes after Federal Reserve chair Janet Yellen said most Federal Open Market Committee members, herself included, anticipate an initial rate increase last this year followed by a gradual tightening thereafter. Speaking at the University of Massachusetts on Thursday evening, Yellen said she expects inflation to return to the Fed's 2% target over the next few years and that weak growth in emerging economies will not have a big enough impact on the US to influence policy. "Which is ironic since the slowdown in China is one of the reasons that she gave in her post-meeting press conference for delaying a rate hike earlier this month," said Paul Ashworth, chief US economist at Capital Economics. "Given that 13 of 17 officials think that rates will rise later this year, our base case scenario is still that the Fed will begin to hike rates in December. But a government shutdown or a debt ceiling stand-off could still scupper those plans." On home soil, the Bank of England's Ian McCafferty said he believed the best course of action to safeguard the economic recovery would be to raise interest rates . McCafferty, who was the only member of the Monetary Policy Committee to vote in favour of a rate hike this month, said concerns on China "should not be overstated". "By not delaying, we increase the likelihood of being able to normalise monetary policy only very gradually, thus minimising the potential shock," he wrote in The Times. In company news, Unilever gained as Berenberg lifted its stance on the stock to 'buy' from 'hold' with an unchanged price target of 3,050p. Lloyds Banking Group advanced on news the UK government cut its stake to 11.98% from 12.97% in August. Just Retirement rose as the company and fellow pension provide Partnership Assurance are to raise £150m in a share placing to help pay for their planned merger. Royal Bank of Scotland climbed after RBC Capital Markets upgraded RBS to 'sector perform' from 'underperform'. The stock also benefited from positive comments from Morgan Stanley, which replaced Barclays with RBS in its preferred names in the sector. Glencore snapped a rally earlier in the session after Bloomberg reported that the miner has hired banks to sell its stake in an agricultural unit. It said talks were under way with a dozen wealth funds and Asian trading houses. Bloomberg cited a person familiar with the matter as saying that the deal could value the whole unit at as much as $12bn. However the sentiment didn't last long, with the stock dropping back down to negative territory. Spread Bet And Earn An Apple Watch With Spreadex Market Movers techMARK 3,060.54 +2.14% FTSE 100 6,109.01 +2.47% FTSE 250 16,799.87 +1.73% FTSE 100 - Risers ARM Holdings (ARM) 982.00p +5.99% Johnson Matthey (JMAT) 2,514.00p +4.84% St James's Place (STJ) 873.50p +4.42% Unilever (ULVR) 2,650.00p +4.41% International Consolidated Airlines Group SA (CDI) (IAG) 604.00p +4.14% Experian (EXPN) 1,061.00p +3.82% CRH (CRH) 1,823.00p +3.64% Intu Properties (INTU) 329.50p +3.62% Prudential (PRU) 1,392.00p +3.61% TUI AG Reg Shs (DI) (TUI) 1,221.00p +3.56% FTSE 100 - Fallers Anglo American (AAL) 614.70p -1.58% Glencore (GLEN) 97.22p -1.41% Antofagasta (ANTO) 506.00p -1.08% Randgold Resources Ltd. (RRS) 3,926.00p -0.51% Fresnillo (FRES) 618.50p -0.40% FTSE 250 - Risers Synergy Health (SYR) 2,244.00p +42.03% Evraz (EVR) 72.80p +5.51% Indivior (INDV) 230.70p +5.39% Premier Oil (PMO) 67.15p +5.09% Ted Baker (TED) 3,165.00p +4.73% Card Factory (CARD) 399.00p +4.53% Debenhams (DEB) 79.00p +4.43% Jimmy Choo (CHOO) 147.00p +4.40% Man Group (EMG) 160.20p +4.30% Diploma (DPLM) 652.00p +3.99% FTSE 250 - Fallers Aggreko (AGK) 902.00p -3.17% Kaz Minerals (KAZ) 101.50p -3.15% Mitchells & Butlers (MAB) 322.30p -2.42% Riverstone Energy Limited (RSE) 920.00p -2.13% Acacia Mining (ACA) 246.00p -2.03% UDG Healthcare Public Limited Company (UDG) 508.50p -1.55% IP Group (IPO) 240.90p -1.31% Greencore Group (GNC) 287.50p -1.20% Woodford Patient Capital Trust (WPCT) 108.50p -1.18% Centamin (DI) (CEY) 63.00p -1.18% FTSE TechMARK - Risers BATM Advanced Communications Ltd. (BVC) 20.25p +6.58% Oxford Instruments (OXIG) 575.50p +3.32% Skyepharma (SKP) 363.00p +2.83% E2V Technologies (E2V) 229.00p +2.00% KCOM Group (KCOM) 90.00p +1.12% NCC Group (NCC) 268.00p +0.37% Spirent Communications (SPT) 74.50p +0.34% Consort Medical (CSRT) 925.00p +0.33% Dialight (DIA) 628.00p +0.16% FTSE TechMARK - Fallers RM (RM.) 165.00p -4.90% Oxford Biomedica (OXB) 8.55p -4.15% SDL (SDL) 323.00p -2.49% Torotrak (TRK) 6.72p -2.11% XP Power Ltd. (DI) (XPP) 1,598.00p -1.90% Ricardo (RCDO) 894.50p -1.70% Triad Group (TRD) 32.00p -1.54% Innovation Group (TIG) 39.25p -1.26% Gresham Computing (GHT) 109.00p -0.91% IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 201.54 -0.42% Avoid NHS waiting lists with private medical insurance from AXA PPP healthcare from £1.33 a day* The NHS is under pressure to meet people's healthcare demands. ADVFN are working with AXA PPP healthcare to bring you low cost private healthcare cover. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks rally as Yellen hints at rate hike by end of the year European stocks rallied on Friday, as remarks from Federal Reserve chairwoman Janet Yellen's in favour of raising interest rates later this year mitigated concerns about the economic outlook The benchmark Stoxx Europe 600 index closed 2.84% higher, while Germany's DAX gained 2.77 and France's CAC rose 3.07%. The euro was broadly flat against the dollar, but gained 0.48% and 0.54% against the yen and the pound respectively. Yellen hints at rate hike On Thursday, Yellen suggested the Fed is still planning to raise rates by the end of the year as long as inflation is stable and the economy is strong enough to support employment. "It will likely be appropriate to raise the target range of the federal-funds rate sometime later this year and to continue boosting short-term rates at a gradual pace thereafter as the labour market improves further and inflation moves back to our 2% objective," she said in a speech at the University of Massachussets. Yellen's comments delivered some much-needed stability in global equity markets, although analysts warned the feel good factor could be short lived. "Janet Yellen's hint that rates will still rise this year has actually prompted a bout of buying in stock markets, on the calculation that the Fed is more optimistic about the global economy than it hinted in its most recent meeting, and thus valuations are not as overstretched as previously thought," said Chris Beauchamp, senior market analyst at IG. "Such thinking might not last if the round of economic data next week - especially China numbers and US non-farm payrolls - do not match up to estimates, but overall good news is good news once again." In company news Volkswagen lost 4.32% board is due to announce a replacement for chief executive Martin Winterkorn, amid reports that Porsche's CEO Matthias Mueller is the front-runner. Meanwhile, BMW recovered from sharp losses in the previous session and rose 4.24%, as German car magazine Auto Bild clarified a report it put out on Thursday, saying it had no evidence of data manipulation at the car maker. Pharmaceutical company Sanofi gained 3.09% sharply following reports it's considering selling its bio-surgery and renal units. On a day quiet in terms of economic in data in the Eurozone, investors focused on reports from across the Atlantic, where the University of Michigan Index for September was upwardly revised from 85.7 to 87.2 but remained well below August reading of 91.9. PROVEN Trading Strategy - Made 7478 pips in 2014 and 5176 by April 2015. Earn a tax free income trading, from just 20 minutes a day.  Our simple to follow, rules based trading strategy will  tell you exactly when to buy and sell with confidence. Register for a FREE brochure and trading guide, Click Here. US Market Report US open: Stocks rally on Yellen's comments US equity markets rallied on Friday, after Federal Reserve chairwoman Janet Yellen said the economy was strengthening and a rate hike was likely this year. Shortly before 1500 BST, the Dow Jones Industrial Average was up 189 points to 16,390.33 while the S&P 500 and the Nasdaq gained 13 and 33 points respectively. Late on Thursday, Yellen said the US central bank will start raising interest rates in the coming months, indicating inflation pressures will gradually increase over the next couple of years. "The Fed chair appeared to provide a bit of much needed clarity, claiming that he majority of the Federal Open Market Committee, including Yellen, expect a 2015 lift-off," said Spreadex's financial analyst Connor Campbell. "This leaves the announcement of a rate-hike in October or December on the cards, providing the kind of future anchoring event for the markets they have been sorely lacking this week." Yellen's words might have provided a timely boost to the markets but changes in the economic landscape were not to be ruled out, warned Michael Hewson, chief market analyst at CMC Markets. "While markets appear to have taken comfort from the slightly clearer tone last night a lot can change between now and October and or December, and recent data does suggest that the Fed's timetable could well be blown off course," he said. "Furthermore Yellen's assertion that inflation effects are short - term and transitory doesn't bear up to the facts that commodity prices have been putting downward pressure on prices for over three years now. "That's not transitory, that's a trend." Better-than-expected GDP On the economic data front, US gross domestic product expanded at an annualised pace of 3.9% in the second quarter, according to a final estimate from the Department of Commerce, up from the prior estimate of 3.1% and compared with analysts expectations for a 3.7% increase. "Headline growth is likely to be held back by a slower pace of inventory investment in the third quarter, but we are tracking real final sales growth of 3.4%," analysts at Barclays said in a note. "This morning's data have no substantive effect on our tracking estimate, and we continue to look for GDP growth of 2.5% from the fourth quarter through late next year." A reading on consumer sentiment for September is on tap at 1500 BST. Elsewhere, Asian stocks were mostly in the as investors were worried by the prospect of a hike in interest rates in the US, while European stocks gained, partly because of Yellen's remarks. The dollar was broadly flat against the euro and gained 0.21% and 0.42% against the pound and the yen respectively, while gold futures shed 0.71% to $1,145.60. Oil prices advanced, with West Texas Intermediate gaining 2.07% to $45.18 a barrel, while Brent rose 1.03% to $48.25 a barrel. In company news, Nike surged 7.26% after delivering an upbeat quarterly earnings report on Thursday. Ahead of the bell, BlackBerry posted a wider-than-expected adjusted loss in the second quarter. Shares fell 0.56%. Blue Chip Opportunities - Morgan Stanley issues 'full house' buy alert Morgan Stanley recently put out a 'full house' buy alert, effectively calling the bottom of 2015's late summer equity slump. The last time it issued such a bullish signal, back in 2009 following a massive financial crash, the FTSE100 promptly commenced an uptrend that's still valid today. Download your copy of this report in which we discuss reasons for the August sell-off and why you should seriously consider investing in our five September picks. Losses can exceed deposits   Broker Tips Broker tips: IAG, Unilever, RBS JPMorgan Cazenove upgraded International Consolidated Airlines Group to 'overweight' from 'neutral' and lifted its price target to €9.55 from €8.50. JPM highlighted IAG's potential to expand profitability beyond the 1-2% unit cost savings discounted in the bank's medium-term estimates. The bank also noted lower susceptibility to the competitive threats faced by its legacy peers and successful inorganic growth and valuation. The bank said it remains positively biased towards the higher-growth, lost-cost carriers Ryanair, EasyJet and Wizz, all rated 'overweight', versus the strategically-challenged Air France-KLM and Lufthansa, both rated 'underweight'. Unilever shares rallied as Berenberg lifted its stance on the stock to 'buy' from 'hold' with an unchanged price target of 3,050p. "Our forecasts do not assume a quick rebound in emerging-market growth, but we believe Unilever is past the trough of group organic growth. It provides margin momentum, improving return on invested capital and free cash flow generation, with net M&A increasingly accretive," said Berenberg. However, despite forex and inflationary pressures, Unilever consistently delivers positive reported earnings per share growth. It noted that since 2002, Unilever's reported EPS growth has been positive every year, except 2009. Berenberg forecast a 9% compound annual growth rate to 2017. Royal Bank of Scotland got a boost on Friday from a couple of upbeat broker notes. RBC Capital Markets upgraded RBS to 'sector perform' from 'underperform', keeping the target at 350p, saying it sees 11% upside to the share price. RBC said its 'underperform' rating was based on its view that the original "bad bank" was too small and the residual corporate and institutional division, art 35% of the group, would not generate returns above the cost of equity and nor would the group. Central London Property Investment Paying 15% Per Annum Limited availability, serious investors only click here   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 advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. 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ADVFN Newsdesk - Risk Appetite Perks Up as Rate Normalization Fears Subside

ADVFN  World Daily Markets Bulletin Daily world financial news Friday, 25 September 2015 09:17:53    Monitor Quote Charts News Toplists Forex Boards   The 10-Minute Investor Consistently outperform the market in less than 10 minutes a day.  Discover a step-by-step system to move from inconsistent to consistent gains in the stock market. Break free of the old, broken investing model and plug-in to a successful investing plan. Attend my free webinar and learn: My 3-Part stock buying checklist My 10-Minute Routine 4 big mistakes to avoid. LEARN MORE US Market NYSE AMEX Dow Jones Nasdaq Please click on the images to view our interactive charts The major U.S. index futures are pointing to a higher opening on Friday, with sentiment reflecting buoyancy in the wake of the reemergence of risk appetite. Some positive corporate earnings could also aiding sentiment. An upward revision to second quarter GDP growth seems to have vindicated the Fed's stance that the economy is ready for a rate increase- an idea conveyed by Fed Chair Janet Yellen yesterday. European stocks have also joined the party and are solidly higher. The consumer sentiment and service sector reading due shortly after the market open may also impact market mood. U.S. stocks ended Thursday's session lower amid the release of mixed economic data and nervousness ahead of Yellen's testimony. The major averages opened lower and fell steadily until early afternoon trading. Thereafter, the averages gradually trimmed their losses over the course of the remainder of the session and yet closed moderately lower. The Dow Industrials ended down 78.57 points or 0.48 percent at 16,201, the S&P 500 Index closed 6.52 points or 0.34 percent lower at 1,932 and the Nasdaq Composite ended at 4,735, down 18.27 points or 0.38 percent. Seventeen of the thirty Dow components ended lower, while the remaining thirteen stocks advanced. Caterpillar (CAT) led the Dow's decline with a 6.27 percent drop in reaction to the downward revision to its sales forecast. American Express (AXP), Boeing (BA), Goldman Sachs (GS), UnitedHealth (UNH) and United Technologies (UTX) also declined sharply, while Procter & Gamble (PG), Coca-Cola (KO) and Chevron (CVX) gained ground. Among the sectors, transportation, biotechnology and brokerage stocks came under selling pressure. On the economic front, durable orders fell 2 percent month-over-month in August following a downwardly revised 1.9 percent increase in July. The increase was in line with expectations. Excluding transportation, orders were unchanged, belying expectations for a 0.3 percent increase. Transportation equipment orders fell 5.8 percent. Non-defense capital goods orders excluding aircrafts, considered a measure of capital spending eased 0.2 percent following a 2.1 percent increase in July. A separate report showed that new home sales came in at a seasonally adjusted annual rate of 552,000 in August following an upwardly revised 522,000 rate in July. The July reading was initially reported at 507,000. Economists expected new home sales to come in at 515,000. Inventories measured in terms of months of supply fell to 4.7 months from 4.9 months. The median sale price of a new home rose 0.5 percent month-over-month and was 22 percent higher than a year ago. The Labor Department reported that jobless claims rose 3,000 to 267,000 in the week ended September 19th. The consensus estimate called for an increase in claims to 275,000 from 264,000 in the previous week. The four-week average fell to 271,750 from 272,500. Continuing claims calculated with a week's lag also declined to 2.242 million in the week ended September 12th from 2.243 million in the week ended September 12th. Yellen in her public appearance did not rule out the possibility of a 2015 rate hike, given the falling the unemployment rate and the fading away of temporary economic headwinds. Discover Which Stocks Can Turn Every $10,000 into $42,749! …and trade stocks with 91% to 100% success rate! Earning between 8% and 199% in only 14 days. Click Here to See How Now US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts Revised estimates released by the Commerce Department showed that the economy expanded 3.9 percent, upwardly revised from the 3.7 percent growth estimated earlier. The upward revision to second quarter growth represented upward revisions to non-residential fixed investment, and residential fixed investment, partly offset by downward revision to private inventory investment. St Louis Federal Reserve Bank President James Bullard is due to speech on new directions in monetary policy in St. Louis at 9:15 am ET. Markit is set to release the results of its preliminary U.S. service sector PMI data for September at 9:45 am ET. The consensus estimate calls for a reading of 55.5 compared to 55.2 in August. At 10 am ET, the University of Michigan is scheduled to release its final U.S. consumer sentiment index for September. Economists expect the index to be upwardly revised to 87.1 from 85.7, although down from 91.9 in August. Kansas City Federal Reserve Bank President Esther George is due to speak on the economy and monetary policy in Omaha at 1:25 pm ET. New Study Shows How to Turn $5,000 Into $6.5 Million Recently, a small not-for-profit "think tank" based in Kansas City, Missouri quietly published a new study... The study monitored the investment activity of 539 millionaires... They've been growing their money 3x – 4x faster than the stock market for more than 17 years... And in this new report, we'll show how you can do the same: Click here to Download it Now. Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Blackberry (BBRY) reported a wider than expected loss for its second quarter and its revenues missed estimates. Nike (NKE) reported better than expected first quarter earnings and revenues. As of the end of the first quarter, the company's worldwide futures orders for Nike Brand athletic footwear and apparel scheduled for delivery from September through January rose 9%, or 17% excluding currency changes, from a year ago. Jabil Circuit's (JBL) fourth quarter adjusted earnings and revenues beat estimates. The company's full year and first quarter guidance was positive. Bed Bath & Beyond (BBBY) reported in line second quarter earnings and revenues that were slightly shy of estimates. The company continues to expect full-year earning per share to range between flat performance and a mid-single digit percentage increase. Pier 1 Imports (PIR) reported below-consensus earnings and revenues for its second quarter and lowered its earnings per share and comparable store sales growth guidance for the full year. Cintas (CTAS) reported forecast beating first quarter earnings from continuing operations, while its revenues were shy of estimates. The company raised its full year guidance. AAR (AIR) reported in line first quarter earnings, while its revenues missed expectations. Merck (MRK) and Pfizer (PFE) announced that they have a collaboration agreement in place with Dako, a Agilent Technologies (A) company for the development of a potential companion diagnostic test used to assess programmed death-ligand 1 protein expression levels in tumor tissues and its microenvironment. Marvell Technology (MRVL) announced significant restructuring of its mobile platform business, which encompasses plans to significantly downsize the business to refocus its technology on IoT, automotive and networking. The company expects annualized operating expense savings of $170 million to $220 million following the implementation, while charges related to the actions are expected to be $100 million to $130 million.. Sanderson Farms (SAFM) said it is voluntarily recalling 551,090 pounds of chicken products at its plant in Hazlehurst, Mississippi, citing the presence of foreign material. Biggest Accounting Fraud Since Enron? Get ready for another accounting scandal... one so big that it could trigger the next major financial crisis in America. According to Jim Rickards, this could be 525 times bigger than Enron. It’s not just employees and investors of a specific company who are in danger... All 300 million American citizens are potential victims of this massive accounting hoax. Click here to find out if you’re in danger. European Markets European stocks are rallying following yesterday's retreat, helped by bargain hunting, as Yellen's speech on Thursday shed additional clarity on the U.S. Fed rate outlook. On the economic front, French consumer confidence strengthened in September to the highest level in almost eight years, data from statistical office INSEE showed. The consumer confidence index rose to 97 in September from 94 in the previous month, which was revised up from 93. Economists had forecast an unchanged reading for the month. A report released by the European Central Bank showed that money supply growth in the eurozone rose 4.8percent year-over-year, while economists expected a 5.3 percent increase. Finally – Larry Levin’s Highly Sought After eBook – For Free! Due to high demand, the legendary S&P pit trader is making his famous ebook, How I Made $1,900,336.82 Trading Commodities available for complimentary download. Don’t miss this opportunity to learn from the best. The trading techniques covered in this ebook are what enabled Larry to build his fortune. Get it now – FREE! Download Here (This offer may expire soon) Asian markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The Asian markets closed on a mixed note, as traders weighed the lackluster lead from Wall Street overnight and the clarity provided by Yellen's speech at Massachusetts. The Indian market was closed for a public holiday. The Japanese market advanced, as the yen weakened on expectations of further easing by the Bank of Japan following the release of domestic inflation data. The Nikkei 225 average opened higher but lost momentum and declined through the morning session, dipping below the unchanged line. However, the index recovered in the afternoon and advanced steadily before ending up 308.68 points or 1.76 percent at 17,881. A majority of stocks advanced in the session. Australia's All Ordinaries started firmer but moved below the unchanged line by late morning trading. Thereafter, the average traded mostly below the unchanged line before ending down 25.60 points or 0.50 percent at 5,077. Most sectors came under selling pressure, led by energy and financial stocks. On the other hand, consumer and material stocks came under selling pressure. China's Shanghai Composite Index ended at 3,092, down 50.34 points or 1.60 percent. Meanwhile, Hong Kong's Hang Seng Index added 90.34 points or 0.43 percent before closing at 21,186. On the economic front, a report released by Japan's Ministry of Internal Affairs and Communication showed that annual core inflation came in at 0.2 percent in August, ahead of the 0.1 percent rate expected by economists. Core inflation rate in Tokyo, considered a precursor for the whole of Japan, edged down 0.2 percent in September, in line with expectations. The Bank of Japan reported that corporate service prices in Japan rose 0.7 percent year-over-year in Japan, more than the 0.5 percent increase forecast by economists. In July, the inflation was 0.6 percent. Special Offer: Trade Using Our Money! Trading Advantage Capital would like to offer you the opportunity to trade using our money. Follow our straightforward instructions and you can be funded up to $250,000. The best part is that you get to keep 60% of your profits – risk free! Currency and Commodities Markets Crude oil futures are adding $0.31 to $45.22 a barrel after rising $0.43 to $44.91 barrel on Thursday. An ounce of gold is currently-trading at $1,141.40, down $12.40 from the previous session's close of $1,153.80. On Thursday, gold climbed $22.30. On the currency front, the U.S. dollar is trading at 121.11 yen compared to the 120.07 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1146 compared to yesterday's $1.1220.     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 Thursday, 24 September 2015 17:41:02 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Fisher Worried About Retirement? Download Our Free Guide For Investors with £250K+ Portfolios. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks slide as investors weigh US data London stocks were on the back foot on Thursday as a "weak" report on US durable goods orders backed the Federal Reserve's argument to keep interest rates unchanged. US durable goods orders dropped 2% in August following a 1.9% increase a month earlier, although it was better than the 2.3% fall expected. Excluding transportation, orders were flat compared to forecasts for a 0.1% increase. "Today's weak durable goods figures are perhaps a sign that Fed chair Janet Yellen was right to sit on her hands with regard to the interest rate rise," said Dennis de Jong, managing director at UFX.com. "Though it's no fault of her own, the air of anticipation and uncertainty of when the increase will happen is keeping investors guessing, much of the reason for the underwhelming figures. Yellen may shed further light on the timing of the first rate hike in nine years when speaks in Massachusetts at a lecture after the markets close. Mixed data on both sides of the Atlantic In other US economic data, the Commerce Department revealed new home sales jumped 5.7% in August compared to a month ago following a 5.4% rise in July. It smashed analysts' projections for a 1.6% gain. Initial jobless claims rose to 267,000 in the week to 19 September from 264,000 the previous week, compared to forecasts of 272,000. "We view the steady trend in continuing unemployment claims and historically low level of overall jobless claims as indicative of solid labour market separations through mid-September," according to Barclays Research analysts. In the Eurozone, GfK's forward-looking index on German consumer confidence fell to 9.6 in October from 9.9 a month earlier, missing forecasts of 9.8. The IFO's business confidence index, however, rose to 108.5 from 108.3, beating estimates of 107.9. Closer to home, a British Bankers' Association revealed UK net mortgage lending hit a five-year high in August. Loans for house purchases came in at 46,473 in August, up from 46,315 in July and 40,454 a year ago. In company news, Lloyds Banking Group surged on the news that fund manager Alex Wright tipped the bank to become a dividend heavyweight over the next two years. That sent stock prices up over 1.7%. Relx benefitted from Bank of America recommending buying shares of the information-solutions provider, which lifted the stock up 1.68%. Next advanced after Nomura upgraded the retailer to 'buy' from 'neutral' and lifted the price target to 8,000p from 7,600p. Rolls-Royce dropped as EDF Energy announced the engineering group is set to supply heat exchangers to be used at the Hinkley Point C nuclear power station. Poundland plunged after making an application to place new shares on the market and raise approximate £50m ahead of its acquisition of 99p Stores. Smiths Group tumbled as CEO Philip Bowman prepared to step down after announcing the full-year results. Thomas Cook gained as the travel company said it was on track to meet full-year profit targets. Market Movers techMARK 2,996.31 -0.87% FTSE 100 5,961.49 -1.17% FTSE 250 16,514.53 -0.87%   Spread Bet And Earn An Apple Watch With Spreadex FTSE 100 - Risers Randgold Resources Ltd. (RRS) 3,946.00p +5.51% Fresnillo (FRES) 621.00p +3.41% Imperial Tobacco Group (IMT) 3,465.00p +1.94% Lloyds Banking Group (LLOY) 73.84p +1.22% Whitbread (WTB) 4,649.00p +1.11% Johnson Matthey (JMAT) 2,398.00p +0.84% National Grid (NG.) 869.10p +0.82% Persimmon (PSN) 2,090.00p +0.77% Relx plc (REL) 1,077.00p +0.65% British American Tobacco (BATS) 3,535.00p +0.58% FTSE 100 - Fallers Glencore (GLEN) 98.61p -9.62% Smiths Group (SMIN) 975.00p -6.16% Anglo American (AAL) 624.60p -5.09% Old Mutual (OML) 184.00p -4.27% Rolls-Royce Holdings (RR.) 650.50p -4.27% CRH (CRH) 1,759.00p -4.04% Aberdeen Asset Management (ADN) 301.80p -3.45% Standard Chartered (STAN) 650.00p -2.67% Ashtead Group (AHT) 930.00p -2.62% Intertek Group (ITRK) 2,361.00p -2.56% FTSE 250 - Risers Evraz (EVR) 69.00p +5.67% Genus (GNS) 1,492.00p +5.00% Zoopla Property Group (WI) (ZPLA) 212.10p +3.56% Tate & Lyle (TATE) 569.50p +3.26% Jimmy Choo (CHOO) 140.80p +3.07% Thomas Cook Group (TCG) 119.00p +2.67% Card Factory (CARD) 381.70p +2.39% AO World (AO.) 160.20p +2.23% Foxtons Group (FOXT) 242.80p +2.19% Riverstone Energy Limited (RSE) 940.00p +2.12% FTSE 250 - Fallers Allied Minds (ALM) 375.00p -14.97% Poundland Group (PLND) 268.00p -13.44% Petra Diamonds Ltd.(DI) (PDL) 87.25p -11.87% Drax Group (DRX) 240.10p -7.40% Euromoney Institutional Investor (ERM) 1,001.00p -5.92% Tullow Oil (TLW) 169.60p -5.62% Morgan Advanced Materials (MGAM) 279.50p -5.35% Premier Oil (PMO) 63.90p -5.33% Just Retirement Group (JRG) 171.80p -5.24% Brewin Dolphin Holdings (BRW) 271.60p -4.87% FTSE TechMARK - Risers RM (RM.) 173.50p +2.06% Skyepharma (SKP) 353.00p +1.58% Dialight (DIA) 627.00p +1.05% Ricardo (RCDO) 910.00p +0.89% Oxford Biomedica (OXB) 8.92p +0.22% IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 202.38 +0.02% FTSE TechMARK - Fallers Triad Group (TRD) 32.50p -8.45% Spirent Communications (SPT) 74.25p -4.19% E2V Technologies (E2V) 224.50p -2.50% Oxford Instruments (OXIG) 557.00p -1.42% CML Microsystems (CML) 347.50p -1.42% BATM Advanced Communications Ltd. (BVC) 19.00p -1.30% KCOM Group (KCOM) 89.00p -1.11% SDL (SDL) 331.25p -0.97% Gresham Computing (GHT) 110.00p -0.90% Torotrak (TRK) 6.87p -0.79% Avoid NHS waiting lists with private medical insurance from AXA PPP healthcare from £1.33 a day* The NHS is under pressure to meet people's healthcare demands. ADVFN are working with AXA PPP healthcare to bring you low cost private healthcare cover. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks tumble as BMW speculation puts brakes on DAX European equity markets tumbled on Thursday, as car-makers stocks continue to decline amid speculations of breaching pollution limits. The benchmark Stoxx Europe 600 index closed down 2.12%, while France's CAC 40 and Germany's Dax lost 1.93% and 1.92% respectively. The euro was broadly flat against the yen, but rose 0.77% against the dollar and gained 0.69% against the pound. Mixed data in Germany On the economic data front, the Ifo business climate index rose to a seasonally-adjusted 108.5 from 108.3 in August, ahead of expectations for a reading of 108. The business expectations index increased to 102.3 from 102.2 and better than estimates of 101.5. The current assessment index, however, fell to 114 in September from 114.8 in August, missing expectations for a reading of 114.7. "The German IFO business survey reported an improvement in economic sentiment in September, but this survey was done before the VW scandal broke and it is quite likely given the repercussions this event is likely to have on German supply chains that if the survey were done now the result would likely be very different," said Michael Hewson from CMC Markets. However, according to the forward-looking GfK survey, the German consumer sentiment index declined from 9.9 in September to 9.6 in October, slightly below analysts' expectations for a 9.8 reading. Across the Atlantic, homes sold at the fastest rate in seven years in August, while US durable goods declined less than expected last month. Orders for long-lasting goods declined 2% in August compared with the 2.3% drop analysts had forecast and with the 1.9% increase registered in the previous month. Meanwhile, according to the Department of Labor, new unemployment benefits claims rose by 3,000 to 267,000 in the week to 19 September, compared with analysts' expectations for a 272,000 reading. Investors will now focus on Janet Yellen's speech, with the Fed Chairwoman set to speak at 2200 BST in her first public appearance since the US central bank opted to keep interest rates unchanged last week. Car stocks slow down In company news, BMW tumbled 5.60% following a report in German newspaper Auto Bild that one of its diesel vehicles exceeded EU pollution limits by 11 times. "The scrutiny that the automotive sector is under is having a particularly detrimental effect on the DAX, as 10% of the equities in the index come from this sector and even more disturbing is the fact that its index weighting is even higher," said Alastair McCaig, senior market analyst at IG. "The ripple effect from this will reach the four corners of Germany, as it is estimated that as many as one in six work in the automotive industry or an ancillary business." Volkswagen slid 0.38% after the company's chief executive Michael Winterkorn announced his resignation on Wednesday on the back of the emissions scandal. A successor is expected to be chosen at a meeting on Friday. Monte dei Paschi di Siena was firmly on the front foot after it settled with Nomura over a derivative trade called "Alexandria" that hit the bank's profits. PROVEN Trading Strategy - Made 7478 pips in 2014 and 5176 by April 2015. Earn a tax free income trading, from just 20 minutes a day.  Our simple to follow, rules based trading strategy will  tell you exactly when to buy and sell with confidence. Register for a FREE brochure and trading guide, Click Here. US Market Report US open: Dow plunges over 200 points ahead of Yellen's speech US stocks were firmly in the red early on Thursday, ahead of a widely anticipated speech from Federal Reserve chairwoman Janet Yellen. Shortly after 1500 BST, the Dow Jones Industrial Average was down 204 points to 16,075.62, while the S&P 500 and the Nasdaq were 24 and 62 points lower respectively. Yellen will address the University of Massachusetts Amherst at 2200 BST in what will be her first speech since the US central bank opted against hiking interest rates last week. "Investors don't know what to make of the market landscape at the moment, with the indices lurching between losses and gains throughout the morning," said Spreadex's financial analyst Connor Campbell. "The lack of a consistent trading direction is likely a product of a market cocktail containing a dash of post-Fed statement confusion, a shot of lingering China-fear, and a sprinkling auto-sector sickness, a brew that leaves few economic anchors for investors to cling to." Better-than-expected data According to the Labor Department, new claims rose by 3,000 to 267,000 in the week to 19 September, compared with analysts' expectations for a 272,000 reading. Meanwhile, the average of new claims over the last four weeks fell by 750 to a seasonally adjusted 271,750, the report added. The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly report and, as such, is seen as a more accurate indicator of the health of the labour market. Meanwhile, according to the Commerce Department, orders for long-lasting goods declined 2% in August compared with the 2.3% drop analysts had forecast and with the 1.9% increase registered in the previous month. Excluding transportation, however, orders were unchanged, while orders for core capital goods fell 0.2% "The downward revision to inventories in July and flat reading for August suggest an even sharper drag on GDP growth from private inventory investment in the third quarter than had been tracking ahead of the report," analysts at Barclays said. "This larger anticipated drag from inventories offset the boost from better equipment investment. On net, our third quarter GDP tracking estimate fell one-tenth to 2.2%." There was more positive news from the housing market, as new home sales rose 5.2% in August, reaching their highest rate since 2008. Elsewhere, Asian equity markets struggled for direction on Thursday, as Japanese stocks were dragged lower by a slump in car stocks and tepid economic data, while European stocks were in the red. The dollar was broadly flat against the pound but declined 0.75% against the yen and 0.68% against the euro. Gold futures climbed 1.19% to $1,145.00, while oil prices were mixed, with West Texas Intermediate losing 0.43% to $44.29 a barrel, while Brent rose 0.17% to $47.83 a barrel. In company news, while Nike, Bed Bath and Beyond and Jabil Circuit will publish results after the closing bell. Blue Chip Opportunities - Morgan Stanley issues 'full house' buy alert Morgan Stanley recently put out a 'full house' buy alert, effectively calling the bottom of 2015's late summer equity slump. The last time it issued such a bullish signal, back in 2009 following a massive financial crash, the FTSE100 promptly commenced an uptrend that's still valid today. Download your copy of this report in which we discuss reasons for the August sell-off and why you should seriously consider investing in our five September picks. Losses can exceed deposits   Broker Tips Broker tips: Tate&Lyle, Asos, Premier Farnell Tate & Lyle was the standout gainer on the FTSE 250 after Liberum upgraded the stock to 'buy' from 'sell' and lifted its price target to 670p from 505p. "While history is disappointing - four profit warnings and a collapse of around 40% in pre-tax profits since full-year 2014 - we see early signs of change and scope for significant upside," it said. Liberum said the key question is whether management's strategy can deliver visible, sustainable earnings growth beyond FY17. In order to determine the potential, it benchmarked Tate's operations with US-based Ingredion, which is the group's closest peer. It said the results are reassuring. "As we suspected, many facets of Tate's operations compare favourably to Ingredion. In our view, Tate's historical difficulties are grounded in execution and strategic ambition, areas that management is working to address." Liberum upgraded ASOS to 'buy' from 'hold', saying three things have changed its view of the stock. Firstly, it believes that the investment in infrastructure coming on stream should drive operating leverage over the next few years. Secondly, it pointed to the recent sharp fall in the shares and said this tilts the risk/reward balance back towards reward. It noted the shares have dropped 39% since their April 2015 highs, meaning they now trade at a 16% discount to the long-term price-to-earnings average. Finally, Liberum said that with easing comps over the next few reporting periods, it expects the company to report strong sales growth, which has historically been the main driver of the share price. Premier Farnell was under pressure after Citigroup downgraded the stock to 'sell' from 'neutral' and cut its price target to 90p from 140p following the company's profit warning last week. The bank said it was downgrading its full-year 2016 earnings before interest and amortisation estimate to £74m, in line with management guidance, which implies a 20% contraction in second-half EBITA year-on-year. Central London Property Investment Paying 15% Per Annum Limited availability, serious investors only click here   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 advertise@advfn.com     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. 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