Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 18 January 2017 09:33:05 Monitor Quote Charts News CFD's Compare Brokers Free BB   Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks nudge higher despite profit warnings; jobs data eyed Stocks in London edged higher in early trade despite a series of profit warnings, as investors looked to the release of some key jobs data. At 0830 GMT, the FTSE 100 was up 0.3% to 7,242.94. Meanwhile, oil prices ticked higher, with West Texas Intermediate up 0.4% to $52.69 a barrel and Brent crude up 0.5% to $55.75. In currency markets, the pound was down 0.5% to $1.2339, having made strong gains in the previous session on the back of Prime Minister Theresa May's Brexit speech. Spreadex's Connor Campbell said: "That leaves most of the currency's post-May Brexit speech gains intact it does suggest that investors aren't too keen to send it above $1.24 and €1.16 respectively. As for the FTSE, sterling's early shyness only helped it post a meagre five point rise, meaning the index is still more than 100 points from the highs it hit at the start of the week. "The focus this morning is likely to remain on the pound as it processes the UK jobs data. For the three months to the end of November wage growth is expected to creep up to a fresh one year-plus high, with the unemployment rate forecast to come in unchanged at 4.8%. The claimant count change reading for December, meanwhile, is set to rise to 4.6k from 2.4k, though with some chunky revisions likely to be made to that latter number. If accurate these figures probably aren't enough to inspire another round of remarkable growth for the pound, though it could ease its current losses." The UK claimant count, unemployment rate and average earnings are due at 0930 GMT. In the US, the consumer price index is at 1330 GMT and the NAHB housing market index is at 1500 GMT. In corporate news, Burberry edged higher after posting 4% growth in underlying retail sales for the third quarter, boosted by a return to growth for the Asia Pacific region but with the Americas still in decline. Ladbrokes Coral was on the front foot as it said 2016 profit is likely to rise in line with market and management expectations. Vodafone pushed up after announcing that it and TDC Group have agreed to renew their strategic partnership for Denmark and Norway, building on a successful fifteen-year relationship that began in 2001. On the downside, education publisher Pearson - which has already issued a string of profit warnings in recent years - tanked after it cut its profit forecast for this year and said the dividend will be lower. Outsourcer Mitie was also under the cosh following its third profit warning since September and as it announced the appointment of a new finance director. Shares in Premier Foods, which owns the Mr Kipling and Bisto brands, were also hit by a profit warning, as the company said trading profit for full-year 2016/17 is now expected to be 10% lower than previously anticipated, and announced a cost saving and efficiency programme. Pub group JD Wetherspoon nudged lower after saying it expects profits to drop in the second half of the year due to rising costs and weaker sales. Information services company Experian was on the back foot after reporting a 4% rise in third-quarter organic revenue as it maintained its guidance for the full year. Top 10 mistakes people make when they trade the financial markets Trading can be a very tough and lonely experience sometimes. But, GKFX is here to help you banish the January blues.  In this webinar our chief analyst James Hughes will talk through his list the Top 10 mistakes people make when they trade the financial markets. Sign Up Here "It's a good idea to review past mistakes before committing new ones." -Warren Buffet Market Movers FTSE 100 (UKX) 7,242.94 0.31% FTSE 250 (MCX) 18,240.29 -0.00% techMARK (TASX) 3,384.45 0.30% FTSE 100 - Risers Dixons Carphone (DC.) 352.40p 1.70% Burberry Group (BRBY) 1,619.00p 1.63% Mondi (MNDI) 1,765.00p 1.55% British American Tobacco (BATS) 4,648.50p 1.50% Compass Group (CPG) 1,444.00p 1.33% Unilever (ULVR) 3,363.50p 1.29% Reckitt Benckiser Group (RB.) 6,854.00p 1.21% HSBC Holdings (HSBA) 674.50p 1.14% United Utilities Group (UU.) 896.00p 1.01% InterContinental Hotels Group (IHG) 3,719.00p 0.90% FTSE 100 - Fallers Pearson (PSON) 616.50p -23.70% Capita (CPI) 500.00p -3.38% Experian (EXPN) 1,540.00p -2.41% Royal Mail (RMG) 440.90p -1.36% Taylor Wimpey (TW.) 171.00p -1.16% International Consolidated Airlines Group SA (CDI) (IAG) 486.00p -1.12% Barratt Developments (BDEV) 515.50p -1.06% Standard Life (SL.) 348.40p -0.88% Barclays (BARC) 229.80p -0.78% Anglo American (AAL) 1,314.00p -0.76% FTSE 250 - Risers Hochschild Mining (HOC) 243.00p 4.38% Ladbrokes Coral Group (LCL) 129.30p 3.86% Spectris (SXS) 2,488.00p 3.32% Henderson Group (HGG) 240.60p 2.34% PZ Cussons (PZC) 335.30p 1.61% Capital & Counties Properties (CAPC) 284.10p 1.25% Britvic (BVIC) 593.00p 1.19% Smith (DS) (SMDS) 432.10p 1.17% Rightmove (RMV) 4,132.00p 1.08% Booker Group (BOK) 186.60p 0.97% FTSE 250 - Fallers Mitie Group (MTO) 186.00p -9.49% Inmarsat (ISAT) 667.00p -5.39% Crest Nicholson Holdings (CRST) 499.80p -2.19% International Personal Finance (IPF) 168.60p -1.98% Redefine International (RDI) 39.69p -1.76% SSP Group (SSPG) 390.40p -1.56% John Laing Group (JLG) 260.00p -1.44% Virgin Money Holdings (UK) (VM.) 307.00p -1.29% Essentra (ESNT) 438.20p -1.28% Share tips 2017 Prudential low risk International insurance and investment product supplier Prudential has had a successful 2016 with the company raising its dividend, reporting an increase in profits whilst all the time continuing to benefit from favourable structural opportunities in its key markets, particularly in Asia. Investors should appreciate that although the group’s Asian exposure is a risk due to the volatility of Asian markets, the demographics of many Asian regions, and the rise of the middle class, should provide a good growth story for Prudential for some time to come. Prudential believes it has adequate capital surplus to withstand further significant deterioration in the European market, which should provide some reassurance to investors. Furthermore, the group’s asset management business M&G continues its expansion into Europe and its retail funds are registered for sale in 20 regions. Ultimately, this is a company which has a good mix of business across a number of regions, with a long-term Asia growth story underpinning the investment case. Read More... Capital at Risk UK Event Calendar Wednesday 18 January INTERIMS Best of the Best INTERIM DIVIDEND PAYMENT DATE British Smaller Companies VCT, Circle Property , Ventus VCT D Shs, Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus 2 VCT D Shs, Ventus VCT, Ventus VCT 'C' Shares QUARTERLY PAYMENT DATE Assura INTERNATIONAL ECONOMIC ANNOUNCEMENTS Capacity Utilisation (US) (14:15) Consumer Price Index (EU) (10:00) Consumer Price Index (GER) (07:00) Consumer Price Index (US) (13:30) Industrial Production (US) (14:15) MBA Mortgage Applications (US) (12:00) Q3 Axis Bank Ltd GDR (Reg S) SPECIAL DIVIDEND PAYMENT DATE British Smaller Companies VCT AGMS Diploma, Game Digital, Majedie Investments TRADING ANNOUNCEMENTS Ladbrokes Coral Group UK ECONOMIC ANNOUNCEMENTS Claimant Count Rate (09:30) FINAL DIVIDEND PAYMENT DATE Focusrite, Northamber Join City Index for competitive commissions and spreads, including FX from 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point, with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks waver as investors sift through earnings European stocks wavered in early trade as investors sifted through some corporate news, with updates from Burberry, ASML and Novozymes providing some cheer. At 0850 GMT, the benchmark Stoxx Europe 600 index was down 0.1%, Germany's DAX was up 0.1% and France's CAC 40 was 0.3% lower. Meanwhile, oil prices edged higher, with West Texas Intermediate up 0.6% to $52.78 a barrel and Brent crude up 0.7% to $55.88. Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor, said: "Markets have taken a deep breath and appear to have calmed down for the moment, with European equities largely range bound in early trade. The dramatic move in sterling pushed the FTSE 100 sharply lower yesterday, but we are already seeing sterling give up some of those gains today, as the heat of the moment spike appears to have been overdone. "Politics and currencies have replaced central banks as the key driver of markets, with Brexit and Donald Trump driving sentiment for investors and volatility rising. The big question for investors is whether the focus on short-term political moves is causing markets to overlook longer term trends and if this market is fair value at current levels." On the corporate front, Dutch semiconductor supplier ASML and Danish biotechnology group Novozymes both rallied after better-than-expected fourth-quarter reports. Meanwhile, luxury retailer Burberry edged higher after it reported 4% growth in underlying retail sales for the third quarter, boosted by a return to growth for the Asia Pacific region but with the Americas still in decline. On the downside, however, education publisher Pearson - which has already issued a string of profit warnings in recent years - tanked after it cut its profit forecast for this year and said the dividend will be lower. Seize the opportunity: a time-limited high-yielding prospect in the UK renewables market The UK Government has a current renewable energy incentive scheme is on its way. FRE plc has locked in pre-accredited tariff income for the next 20 years. Our secured bonds are paying fixed returns of 7-11% over 3-5 years. Invest in the energy of the future – today (capital at risk.) Tell me more Newspaper Round Up Wednesday newspaper round-up: Retailers, Deliveroo, Davos Almost three-quarters of international retailers are choosing to expand outside of the UK because of this country's burdensome and complex business rates system, fresh figures have shown. The findings come at a time when British firms are chastising the Government's proposals to overhaul an appeals procedure which will limit companies' powers to challenge incorrect business rate rises and face looming bill increases in an April revaluation. - Telegraph Deliveroo plans to employ hundreds of new staff at a new London headquarters, trebling its current engineering headcount. The British food delivery company plans to hire 300 software and hardware engineers at an office in Canon Street this summer to work on technology such as the Deliveroo app and logistics systems. - Telegraph Nurses, teachers and firefighters' pay will drop by thousands of pounds in real terms by the end of the decade unless the government softens its stance on public sector salaries, the TUC has said in a new analysis. The trades union organisation calculated that midwives, teachers and social workers will see their real pay, which accounts for the impact of inflation, drop by more than £3,000 by 2020 if the government sticks to plans to limit salary increases to 1% a year. - Guardian China's premier, Xi Jinping, has delivered a strong defence of globalisation, serving notice to Donald Trump that Beijing will seek to usurp America's traditional role as the champion of free trade and open markets. Xi used an hour-long address to the World Economic Forum (WEF) to take a number of sideswipes at the US president-elect, attacking Trump's protectionist views without mentioning him by name. - Guardian Mitsui has become the first Japanese company to join the increasingly international list of operators with their hands on the controls of Britain's railways by buying a 40 per cent stake in the East Anglia train franchise. Its eyes, however, may be fixed firmly further down the line. Mitsui's arrival on the British railways is likely to herald an assault by the Japanese industrial giant on the greatest prize of all: the tender later in the year to operate the trains on HS2. - The Times Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more   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. 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Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Tuesday, 17 January 2017 17:35:48 Monitor Quote Charts News CFD's Compare Brokers Free BB   Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE falls as pound strengthens after Theresa May's Brexit speech The FTSE 100 closed in negative territory on Tuesday as the pound strengthened after Prime Minister Theresa May revealed the government's Brexit plans. The index fell 1.46% to 7,220.38 points while the pound jumped 2.82% against the dollar to $1.2387 and gained 1.81% versus the euro to €1.1571. Speaking in London, May said Britain will leave the European Union's single market but the government was looking to negotiate a free trade deal with the bloc. May's confirmation of a 'hard' Brexit came as no surprise after weekend media reports stated the Prime Minister was likely to say Britain was leaving the single market in her speech. The news was softened somewhat after May said both houses of parliament would get a vote on the final Brexit deal. A vote is expected in early 2019, towards the end of the two-year negotiating period after triggering Article 50 of the formal Brexit process. Jasper Lawler, senior market analyst at London Capital Group, said the parliamentary vote will "keep the more enthusiastic Brexit ministers in check". "The government deserves some applause for its expectations management," he added. "The leaking of key details from the speech meant much of it was priced in, teeing up Theresa for a relief rally as she stepped on stage. To her credit, Theresa May came across as strong advocate for Britain. EU leaders would do well not to underestimate May as an adversary over the negotiating table." Earlier in the session, traders were digesting the latest UK inflation figures. The Office for National Statistics revealed inflation surged more than expected as higher import costs - caused by a weaker post-Brexit sterling - were passed onto consumers. The consumer price index rose to an annual rate of 1.6% in December compared to 1.2% in November, while the market had forecast a rise of 1.4%. Month-on-month, CPI rose 0.5% in December from 0.2% in November, more than the consensus forecast for a 0.3% rise. Core inflation, which excludes more volatile prices such as energy, food, alcohol and tobacco, rose to 1.6% from 1.4%, driven by a rebound in inflation in the services sector to 2.5% from 2.2% in November. Economist Scott Bowman at Capital Economics said the pick-up in inflation should not worry the Monetary Policy Committee yet, though the input price pressures should continue to flow through to consumer prices and lift inflation above the BoE's 2% target in a few months' time. Separate data from the ONS revealed UK house price growth picked up in November. ONS's House Price Index data, which is based on mortgage completions, showed house prices rose 6.7% year-on-year in November, having dipped to a 12-month low of 6.4% in October from 6.6% in September, 6.8% in August and 9.3% in June Meanwhile, the Council of Mortgage Lenders said house purchasing lending in the UK rose 5% to £11bn in November from a month ago. Compared to the same month a year ago, borrowing rose 2% in November, totalling 60,800 loans. Elsewhere, the dollar weakened as investors continued to mull US President-elect Donald Trump's remarks about the greenback being "too strong" after touching a more-than 14-year high about two weeks ago. In an interview with The Wall Street Journal on Friday, Trump said the currency had strengthened too much, particularly since the Chinese yuan is "dropping like a rock". "Our companies can't compete with them now because our currency is too strong. And it's killing us," he told the newspaper. In company news, aerospace and defence group Rolls-Royce was the standout gainer after agreeing to pay £671m to settle bribery and corruption cases with UK and US authorities. Hargreaves Lansdown rallied after JP Morgan Chase upgraded the stock to 'neutral' from 'underweight' on valuation grounds. Standard Chartered got a boost as Bank of America Merrill Lynch upgraded the stock to 'buy' from 'neutral' and lifted the price target to 900p from 735p, saying the bank was progressing towards reasonable returns. On the downside, inspection, product testing and certification company Intertek was under the cosh as Credit Suisse downgraded the stock to 'underperform' from 'neutral' and cut the price target to 3,200p from 3,400p as it took a more cautious view on the rate of recovery in the resources operations and increased risk to its consumer and product divisions. Miners were on the back foot as metals prices declined despite a weaker US dollar, with BHP Billiton and Anglo American in the red. Top 10 mistakes people make when they trade the financial markets Trading can be a very tough and lonely experience sometimes. But, GKFX is here to help you banish the January blues.  In this webinar our chief analyst James Hughes will talk through his list the Top 10 mistakes people make when they trade the financial markets. Sign Up Here "It's a good idea to review past mistakes before committing new ones." -Warren Buffet Share tips 2017 Prudential low risk International insurance and investment product supplier Prudential has had a successful 2016 with the company raising its dividend, reporting an increase in profits whilst all the time continuing to benefit from favourable structural opportunities in its key markets, particularly in Asia. Investors should appreciate that although the group’s Asian exposure is a risk due to the volatility of Asian markets, the demographics of many Asian regions, and the rise of the middle class, should provide a good growth story for Prudential for some time to come. Prudential believes it has adequate capital surplus to withstand further significant deterioration in the European market, which should provide some reassurance to investors. Furthermore, the group’s asset management business M&G continues its expansion into Europe and its retail funds are registered for sale in 20 regions. Ultimately, this is a company which has a good mix of business across a number of regions, with a long-term Asia growth story underpinning the investment case. Read More... Capital at Risk Market Movers FTSE 100 (UKX) 7,220.38 -1.46% FTSE 250 (MCX) 18,240.96 -0.36% techMARK (TASX) 3,374.25 -1.13% FTSE 100 - Risers Rolls-Royce Holdings (RR.) 694.50p 4.44% Hargreaves Lansdown (HL.) 1,329.00p 3.91% easyJet (EZJ) 1,058.00p 3.42% Standard Chartered (STAN) 744.70p 2.82% Barratt Developments (BDEV) 521.00p 2.56% Royal Bank of Scotland Group (RBS) 220.20p 2.47% Taylor Wimpey (TW.) 173.00p 2.31% International Consolidated Airlines Group SA (CDI) (IAG) 491.50p 1.99% Persimmon (PSN) 1,995.00p 1.37% Babcock International Group (BAB) 954.50p 1.33% FTSE 100 - Fallers British American Tobacco (BATS) 4,580.00p -3.83% Carnival (CCL) 4,113.00p -3.50% Intertek Group (ITRK) 3,449.00p -3.20% Wolseley (WOS) 4,866.00p -3.16% BHP Billiton (BLT) 1,434.00p -2.94% Diageo (DGE) 2,131.50p -2.92% Compass Group (CPG) 1,425.00p -2.73% Burberry Group (BRBY) 1,593.00p -2.69% Reckitt Benckiser Group (RB.) 6,772.00p -2.63% Imperial Brands (IMB) 3,543.00p -2.53% FTSE 250 - Risers Dechra Pharmaceuticals (DPH) 1,422.00p 4.10% International Personal Finance (IPF) 172.00p 3.68% Capital & Counties Properties (CAPC) 280.60p 3.16% Sports Direct International (SPD) 293.70p 3.05% Morgan Advanced Materials (MGAM) 296.90p 2.98% Ladbrokes Coral Group (LCL) 124.50p 2.81% Pets at Home Group (PETS) 241.70p 2.59% Aldermore Group (ALD) 222.00p 2.30% Beazley (BEZ) 391.70p 2.19% Wizz Air Holdings (WIZZ) 1,839.00p 2.11% FTSE 250 - Fallers Ferrexpo (FXPO) 125.00p -3.99% Worldwide Healthcare Trust (WWH) 2,108.00p -3.91% Vedanta Resources (VED) 1,001.00p -3.75% PZ Cussons (PZC) 331.00p -3.48% Kaz Minerals (KAZ) 412.80p -3.14% Evraz (EVR) 219.50p -2.83% JPMorgan American Inv Trust (JAM) 366.40p -2.55% JPMorgan Indian Investment Trust (JII) 622.00p -2.51% Rentokil Initial (RTO) 220.10p -2.44% Foreign and Colonial Inv Trust (FRCL) 543.00p -2.34% Join City Index for competitive commissions and spreads, including FX from 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point, with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Markets finish red on May's Brexit deliverance European stocks made a mild retreat on Tuesday, after UK Prime Minister Theresa May outlined the government's plans for Brexit in an eagerly-awaited speech. The benchmark Stoxx Europe 600 index was last down 0.12%, while Germany's DAX was off 0.13% and France's CAC 40 was 0.46% weaker. London's FTSE 100 was 1.46% lower. In currency markets, the pound surged higher during the afternoon following May's speech, at $1.2389 versus $1.2185 just before she started speaking. On Monday, sterling fell to its lowest level since the October 'flash crash' after a Sunday Times report suggested May was set to reveal plans for a 'hard' Brexit. In her speech on Tuesday, May said she did not want partial membership of the EU. "We seek a new and equal partnership - between an independent, self-governing, global Britain and our friends and allies in the EU. "Not partial membership of the European Union, associate membership of the European Union, or anything that leaves us half-in, half-out." Nullifying the option for a 'Norwegian model' May said she was not seeking to adopt any model already enjoyed by other countries. "We do not seek to hold on to bits of membership as we leave." In addition, she confirmed that MPs and peers will get to vote on the final Brexit deal before it comes into place and said the Government will seek the greatest possible access to the single market, but not membership of it In corporate news, aerospace and defence group Rolls-Royce advanced 4.77% after agreeing to pay £671m to settle bribery and corruption cases with UK and US authorities. British American Tobacco reversed earlier gains to fall 3.46% after confirming it was acquiring the remaining 57.8% of Reynolds American it does not already own in an agreed cash-and-shares offer worth $49.4bn. German online retailer Zalando slumped 5.98% despite reporting a rise in revenue and earnings for the fourth quarter. Beiersdorf nudged up 0.21% after better-than-expected 2016 sales figures. Standard Chartered rallied 3.4% on the back of an upgrade to 'buy' by Bank of America Merrill Lynch. French retailer Casino Guichard Perrachon finished 3.59% firmer after saying 2016 trading profit came in a touch ahead of its €500m target. French train maker Alstom declined 0.91% as it reported a 3.1% increase in sales for the months through to December, which marked a slowdown from the previous six months. On the macroeconomic front, the latest survey from the ZEW Center for European Economic Research in Mannheim showed German economic sentiment improved less than expected in January. The index of economic sentiment increased to 16.6 from 13.8 the month before, but this was below analysts' expectations for a reading of 18.3. Seize the opportunity: a time-limited high-yielding prospect in the UK renewables market The UK Government has a current renewable energy incentive scheme is on its way. FRE plc has locked in pre-accredited tariff income for the next 20 years. Our secured bonds are paying fixed returns of 7-11% over 3-5 years. Invest in the energy of the future – today (capital at risk.) Tell me more US Market Report US open: Stocks on the back foot as Trump rally loses steam US stock markets edged lower on Tuesday as traders returned to their desks after the long weekend, with earnings season back in focus as the Trump rally ran out of steam and the dollar slipped against the pound. At 1520 GMT, the Dow Jones Industrial Average fell 0.08% to 19,869.43, the S&P 500 was 0.17% weaker at 2,270.78 and the Nasdaq was down 0.41% to 5,557.34. US markets were closed on Monday for Martin Luther King Jr Day. Meanwhile, oil prices advanced, underpinned by a weaker dollar. West Texas Intermediate was up 0.69% to $52.99 a barrel, while Brent crude was 0.92% higher at $56.38. Across the pond, UK Prime Minister Theresa May said Britain would seek to leave the European single market and the customs union of the European Economic Area in order to curb immigration from the EU and forge new trade deals. She also said that the final Brexit deal will be put to a vote in both houses of parliament. The dollar was down 2.72% versus the pound, 1.01% against the euro and 1.02% versus the yen. The pound had fallen to its lowest level against the dollar since the October 'flash crash' on Monday after the Sunday Times said May was set to reveal plans for a 'hard' Brexit. On Tuesday, however, the pound got a boost from May's speech and strong inflation data released earlier in the session. Lukman Otunuga, research analyst at FXTM, said: "The swift change of events has turned the GBPUSD bullish on the daily charts with prices trading over 350 pips higher from Monday's three month low as of writing. A decisive breakout and daily close above 1.2350 could encourage a further incline higher towards the next relevant resistance level at 1.2500. A persistently weak dollar created from the rising Trump uncertainties could elevate the GBPUSD higher this week with technical traders carefully observing how prices react to 1.2350." President-elect Donald Trump recently said that Brexit would end up a being a "great thing" for Britain and promised a "very quick" trade deal. Back across the Atlantic, New York Federal Reserve president William Dudley said that a strong greenback would put downward pressure on prices and that inflation was "not a problem". He said the risk that the Fed will "snuff out" economic expansion anytime soon seems low because "inflation is simply not a problem" and that the pressure on labour resources was increasing "quite slowly". "The recent strengthening of the dollar will put downward pressure on import prices and limit the ability of domestic producers to raise their prices," he said. On the data front, the Empire State manufacturing index came in at 6.5 in January from 7.6 in December, suggesting that business activity in the Big Apple grew modestly. This was below the 8.5 expected. In corporate news, Morgan Stanley fell 1.8% despite reporting an 83% surge in fourth-quarter earnings, which beat expectations, as it benefited from increased trading after the presidential election. This was the bank's strongest fourth quarter since the financial crisis. Elsewhere, United Health gained 7.5% as its fourth-quarter earnings beat analysts' expectations. Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more Broker Tips Broker tips: Ashtead, Intertek, StanChart Ashtead was given a boost on Tuesday after Deutsche Bank upgraded its rating on the equipment rental company to 'hold' from 'sell' at an unchanged target of 1,600p. Deutsche Bank said its fears about the impact of macro-economic challenges have tempered following recent stronger data. The bank had previously expected a steady de-rating. Last year US non-residential construction rose 3% in October and 4% in November after decelerating from 10% in January to 1% in September, the bank noted. Deutsche Bank said it also recognises that following the election, US policy changes have the potential to stimulate growth. The bank's economists have materially upgraded GDP expectations since the election. "We therefore push out our expectations of a de-rating, and no longer believe the market will imminently imply a slowdown in the Ashtead multiple," Deutsche Bank said. "We also recognise that Ashtead's shares have some scarcity value for UK long only fund managers seeking exposure to US GDP and fiscal stimulus." The bank has upgraded its forecasts for fiscal year 2017 earnings per share by 4.5% and 2018 EPS by 7.1%. However, Deutsche Bank said momentum can quickly change given the nature of Ashtead's end market. "With consensus enterprise value/sales back at 3.0x, we consider it important to continue to monitor the end markets carefully. On a 24m view we remain cautious over valuation." The third quarter results are due on 7 March and Deutsche Bank expects group adjusted pre-tax profit of £177m. Credit Suisse has downgraded Intertek to 'underperform' from 'neutral' and cut the price target to 3,200p from 3,400p as it took a more cautious view on the rate of recovery in the resources operations and increased risk to its consumer and product divisions. The bank said it expects organic growth to remain constrained in the shorter term with -0.2% organic growth in 2016 and 1.6% in 2017. In the medium term, CS reckons organic growth can return to mid-single digit growth rates but said the path to this level of growth is likely to be constrained by the resources operations and rising risks related to geopolitical uncertainty. "Given its operational exposure we think that Intertek is the most exposed of the major staffing companies if protectionist policies lead to indigestion in global trade routes. From a more positive perspective we think that Intertek can continue to add value and incremental growth from combining organic progression with further M&A." The bank cut its earnings per share forecast for 2017 and 2018 to 179p from 180.8p and to 191.2p from 194.3p, respectively. Standard Chartered got a boost on Tuesday as Bank of America Merrill Lynch upgraded the stock to 'buy' from 'neutral' and lifted the price target to 900p from 735p, saying the bank was progressing towards reasonable returns. Merill upped its 2018 pre-tax profit forecast by 18% to reflect higher returns on StanChart's $140bn excess deposits and equity and a modest uplift for higher fixed income and FX trading. BofA ML said it sees StanChart rebuilding profitability organically, with costs stable and income recovering to $17bn by 2020. "This should offer an 8% return on tangible equity, re-geared to 9%," Merrill said, adding that this is still low, depressed by continued QE in Japan and rates still weighing on deposit earnings. "We believe the market will support the group's independent strategy. However, in the event of disappointment, we believe the possibility of the end of the nine-year regulatory expansion and the new US administration open the potential for StanChart to seek a merger." BofA ML pointed out that StanChart's market value is below 10% of its largest peers and its multiple is now an outlier at 0.7x tangible book.   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. 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 Tuesday, 17 January 2017 10:15:31 Monitor Quote Charts News CFD's Compare Brokers Free BB   Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks edge lower ahead of May speech, inflation figures Stocks in London edged lower in early trade as investors eyed the release of UK inflation data and a speech by Prime Minister Theresa May on her plans for Brexit. At 0830 GMT, the FTSE 100 was down 0.3% to 7,305.56. Meanwhile, oil prices were little changed, with West Texas Intermediate and Brent crude down 0.2% to $52.52 and $55.77 a barrel, respectively. Spreadex's Connor Campbell said: "The main focus is, of course, Theresa May's Brexit speech. In what is likely to be the clearest indication yet that the government is pursuing a hard Brexit, the Prime Minister will reportedly place controlling immigration and leaving the jurisdiction of the European court of justice as the country's top priorities when negotiating. That would almost certainly confirm Britain's exit from the single market, a move that is going to court just as much controversy in the Tory party as it does appease those members from the Leave campaign looking to burn all EU bridges. "Beyond that May's speech seems set to be filled with meaningless buzz words, the PM wanting to remain Europe's 'best friend' while aiming to create a 'global Britain'." In currency markets, the pound was trading higher ahead of May's speech, rebounding from heavy falls in the previous session. Neil Wilson, senior market analyst at ETX Capital, said: "The dollar index has eased to its weakest since Thursday and that's helped to send the pound a little higher this morning, scrubbing some of the worst of Monday's losses. Cable is trading around $1.21135, a little more than a cent above yesterday's lows." In corporate news,aerospace and defence group Rolls-Royce advanced after agreeing to pay £671m to settle bribery and corruption cases with UK and US authorities. British American Tobacco edged higher after confirming it was acquiring the remaining 57.8% of Reynolds American it does not already own in an agreed cash-and-shares offer worth $49.4bn. Greggs shares were looking pretty tasty after the FTSE 250 baker said full-year results are likely to be slightly ahead of previous expectations following particularly strong sales over the Christmas period. Cairn Energy ticked up after it reported $335m group net cash at 31 December, with its reserves-based lending bank facility remaining undrawn and debt availability to fund UK development assets increasing with project progress. Tullow Oil gushed a little higher as it made a new oil discovery at the Erut-1 well in Block 13T in Northern Kenya. On the downside, Provident Financial pushed lower despite saying full-year results would be in line with market expectations as the non-standard lender grew customer numbers 9% at its Vanquis Bank arm. Mining giant Rio Tinto was in the red after saying it experienced a "strong" operational performance in 2016 with increases in iron ore, bauxite and aluminium production in the fourth quarter. Drug giant AstraZeneca nudged down as it rejigged the target of clinical trials for its immuno-oncology treatment for non-small cell lung cancer after "strong efficacy" of its durvalumab drug shown in recent internal and external data as well as "significant opportunities in the competitive landscape". Standard Chartered rallied on the back of an upgrade to 'buy' by Bank of America Merrill Lynch, but Intertek slumped as Credit Suisse cut the stock to 'underperform'. The UK producer price index, consumer price index and retail price index are due at 0930 GMT, while May's speech is reported to be at 1145 GMT. Top 10 mistakes people make when they trade the financial markets Trading can be a very tough and lonely experience sometimes. But, GKFX is here to help you banish the January blues.  In this webinar our chief analyst James Hughes will talk through his list the Top 10 mistakes people make when they trade the financial markets. Sign Up Here "It's a good idea to review past mistakes before committing new ones." -Warren Buffet Market Movers FTSE 100 (UKX) 7,305.56 -0.29% FTSE 250 (MCX) 18,256.76 -0.28% techMARK (TASX) 3,403.35 -0.28% FTSE 100 - Risers Standard Chartered (STAN) 759.00p 4.79% Rolls-Royce Holdings (RR.) 696.50p 4.74% Hargreaves Lansdown (HL.) 1,307.00p 2.19% Randgold Resources Ltd. (RRS) 6,900.00p 1.17% British American Tobacco (BATS) 4,808.00p 0.96% Hikma Pharmaceuticals (HIK) 1,914.00p 0.79% easyJet (EZJ) 1,030.00p 0.68% Fresnillo (FRES) 1,445.00p 0.63% HSBC Holdings (HSBA) 683.70p 0.50% Old Mutual (OML) 211.20p 0.38% FTSE 100 - Fallers Intertek Group (ITRK) 3,432.00p -3.68% Anglo American (AAL) 1,325.50p -2.21% Glencore (GLEN) 314.90p -2.17% BHP Billiton (BLT) 1,447.00p -2.06% Rio Tinto (RIO) 3,417.50p -2.02% Antofagasta (ANTO) 719.50p -1.91% Provident Financial (PFG) 2,834.00p -1.12% Vodafone Group (VOD) 208.20p -1.09% Marks & Spencer Group (MKS) 339.00p -0.99% Tesco (TSCO) 201.35p -0.96% FTSE 250 - Risers Dechra Pharmaceuticals (DPH) 1,430.00p 4.69% Greggs (GRG) 1,040.00p 3.90% Tullow Oil (TLW) 317.70p 1.37% Centamin (DI) (CEY) 153.90p 1.32% Hiscox Limited (DI) (HSX) 1,024.00p 1.09% Hochschild Mining (HOC) 236.10p 0.98% Kennedy Wilson Europe Real Estate (KWE) 954.00p 0.95% BGEO Group (BGEO) 2,789.00p 0.83% Polymetal International (POLY) 934.50p 0.81% OneSavings Bank (OSB) 324.50p 0.75% FTSE 250 - Fallers Vedanta Resources (VED) 1,007.00p -3.17% John Laing Group (JLG) 261.40p -1.99% Homeserve (HSV) 607.00p -1.78% Softcat (SCT) 294.00p -1.77% Supergroup (SGP) 1,604.00p -1.72% Ascential (ASCL) 291.20p -1.69% International Personal Finance (IPF) 163.10p -1.69% Ibstock (IBST) 177.30p -1.66% Ashmore Group (ASHM) 297.80p -1.42% Share tips 2017 Prudential low risk International insurance and investment product supplier Prudential has had a successful 2016 with the company raising its dividend, reporting an increase in profits whilst all the time continuing to benefit from favourable structural opportunities in its key markets, particularly in Asia. Investors should appreciate that although the group’s Asian exposure is a risk due to the volatility of Asian markets, the demographics of many Asian regions, and the rise of the middle class, should provide a good growth story for Prudential for some time to come. Prudential believes it has adequate capital surplus to withstand further significant deterioration in the European market, which should provide some reassurance to investors. Furthermore, the group’s asset management business M&G continues its expansion into Europe and its retail funds are registered for sale in 20 regions. Ultimately, this is a company which has a good mix of business across a number of regions, with a long-term Asia growth story underpinning the investment case. Read More... Capital at Risk UK Event Calendar Tuesday 17 January INTERIM DIVIDEND PAYMENT DATE IG Design Group FINALS Elegant Hotels Group EGMS PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S) TRADING ANNOUNCEMENTS Greggs, Sinclair Pharma UK ECONOMIC ANNOUNCEMENTS Consumer Price Index (09:30) Producer Price Index (09:30) Retail Price Index (09:30) FINAL DIVIDEND PAYMENT DATE Hargreave Hale AIM VCT 1 Join City Index for competitive commissions and spreads, including FX from 0.5 points. We’ve been executing quality trades for over 30 years. Trade shares, indices, commodities and FX across 12,000 markets today from 50p a point, with an award-winning Spread Betting service that’s on your side. Losses can exceed deposits. Find out more Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks tick lower ahead of May's Brexit speech European stocks ticked lower in early trade as investors awaited a speech by UK Prime Minister Theresa May, in which she is expected to outline the government's plans for Brexit. At 0850 GMT, the benchmark Stoxx Europe 600 index was down 0.6%, while Germany's DAX and France's CA 40 were off 0.7%. Meanwhile, oil prices were little changed, with West Texas Intermediate and Brent crude down 0.2% to $52.52 and $55.77 a barrel, respectively. Markus Huber, a trader at City of London Markets, said: "Whilst traders are eagerly awaiting her speech due to multiple leaks over the past few days it might very well be that most of what the speech will contain is already well known in advance and therefore its impact on stocks and the pound should limited." In corporate news, aerospace and defence group Rolls-Royce advanced after agreeing to pay £671m to settle bribery and corruption cases with UK and US authorities. British American Tobacco edged higher after confirming it was acquiring the remaining 57.8% of Reynolds American it does not already own in an agreed cash-and-shares offer worth $49.4bn. Beiersdorf nudged up after better-than-expected 2016 sales figures, while Greggs shares were looking pretty tasty after the FTSE 250 baker said full-year results are likely to be slightly ahead of previous expectations following particularly strong sales over the Christmas period. Standard Chartered rallied on the back of an upgrade to 'buy' by Bank of America Merrill Lynch. On the downside, German online retailer Zalando slumped despite reporting a rise in revenue and earnings for the fourth quarter. French retailer Casino was weaker despite saying 2016 trading profit came in a touch ahead of its €500m target. French train maker Alstom declined as it reported a 3.1% increase in sales for the three months through to December, which marked a slowdown from the previous six months. Mining giant Rio Tinto was in the red after saying it experienced a "strong" operational performance in 2016 with increases in iron ore, bauxite and aluminium production in the fourth quarter. Seize the opportunity: a time-limited high-yielding prospect in the UK renewables market The UK Government has a current renewable energy incentive scheme is on its way. FRE plc has locked in pre-accredited tariff income for the next 20 years. Our secured bonds are paying fixed returns of 7-11% over 3-5 years. Invest in the energy of the future – today (capital at risk.) Tell me more Newspaper Round Up Tuesday newspaper round-up: May, Carney, Merkel, oil Theresa May will rule out Britain staying in the European single market today as she makes immigration controls a priority in Brexit talks. Britain should not be "half-in, half-out" of the EU or "hold on to bits of membership as we leave", the prime minister will say in a speech laying out her negotiating objectives. - The Times Mark Carney has suggested interest rates could go up or down as the Bank of England strikes a difficult balance between supporting growth and managing inflation. He said monetary policy could respond, in either direction, to changes in the economic outlook to ensure that inflation hovers around the Bank's 2pc target, and that the Bank of England would keep an eye on how consumer spending is affected by a weaker sterling when it considers what to do with interest rates. - Telegraph Angela Merkel and François Hollande have responded curtly but defiantly after Donald Trump cast further doubt on his commitment to Nato and gave strong hints that he would not support EU cohesion once in office. "We Europeans have our fate in our own hands," the German chancellor said after the publication of the US president-elect's interviews with the Times and German tabloid Bild. "He has presented his positions once more. They have been known for a while. My positions are also known." - The Guardian Rolls-Royce is to pay almost £700m to settle bribery and corruption allegations which have dogged the company for years. In a statement after the market closed, the FTSE 100 engineering group revealed it had reached a provisional deal with UK and other international regulators over claims it paid bribes to land international deals and was involved in fraud. - Telegraph The oil market's path to recovery will be volatile, even with a global deal to drive oversupply lower, according to the head of the International Energy Agency (IEA). Oil prices started to creep upwards towards the end of last year, after the Organisation of the Petroleum Exporting Countries (Opec), which represents some of the world's top producers, agreed a landmark global deal to limit production in a bid to get rid of surplus supply and boost prices. - Telegraph The details of how Bank of Scotland rushed older borrowers into hugely expensive mortgages where their debt rose with house prices have been revealed by a This is Money investigation. Evidence has emerged that the bank - which has previously been criticised for sharp sales practices - hurried customers approaching retirement into signing up to shared appreciation mortgages without financial advice. - Mail Tens of thousands of Southern rail commuters could be in line for compensation from their credit card companies after a passenger claimed he had won £2,400 back from American Express for his season ticket. Money experts have said a little-known piece of consumer law could allow commuters who have bought season tickets on Southern rail with credit cards to claim back part of the cost. - The Times Poundland is expanding its clothing range in a bid to copy the success of George at Asda. The discounter is introducing clothes from Pep&Co in 50 of its larger stores in the next few months. - Mail Rovio, the Finnish mobile games company, is opening a studio in London that will focus on developing "massive multiplayer online" games as it seeks to reduce its dependence on its fading Angry Birds franchise. The company said it chose London after considering and rejecting several other European locations in what is being seen as another vote of confidence in the British economy after the Brexit vote. - The Times Missing an opportunity? Spread Betting and CFD trading offer an alternative to conventional investment products. Trade 12,000 markets across indices, FX, shares and commodities from 50p a point; on any device, anywhere. City Index has been executing quality trades for over 30 years. Discover opportunities today. Losses can exceed deposits. Find out more   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. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49