Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Market Briefing - UK markets finished in positive territory on Friday, with the FTSE 100 index closing at a record high for a second consecutive session

Market Briefing - UK markets finished in positive territory on Friday, with the FTSE 100 index closing at a record high for a second consecutive session

UK Market Snapshot

UK markets finished in positive territory on Friday, with the FTSE 100 index closing at a record high for a second consecutive session. Panmure Gordon & Co. rallied 64.7%, after Bob Diamond’s Ellsworthy Ltd. and a Qatari investment group, QInvest, acquired the company for £15.5 million in cash. Berkeley Group Holdings jumped 6.1%, after the housebuilder stated that its full year pre-tax profits would come out at the top end of analysts’ expectations. Peer, Barratt Developments added 1.6%. Bucking the trend, Tullow Oil plunged 14.8%, after the company announced that it would raise £607.0 million through a rights issue at a deeply discounted price in order to reduce its debt. Hochschild Mining plummeted 8.1%, after its Chairman, Eduardo Hochschild, sold his stocks worth up to £42.0 million in the company. The FTSE 100 advanced 0.1%, to close at 7,425.0, while the FTSE 250 rose 0.4%, to settle at 19,094.9.

US Market Snapshot

US markets closed mostly lower on Friday, weighed down by losses in financial sector stocks. Franklin Resources and Invesco dropped 3.9% and 4.4%, respectively. Banking giants, JPMorgan Chase, Bank of America and Goldman Sachs Group declined 1.1%, 1.4% and 1.7%, respectively. Amgen tumbled 6.4%, after the company stated that its new cholesterol-lowering drug significantly failed to reduce mortality. On the flipside, 3M, Wynn Resorts and Cintas added 1.1%, 3.8% and 4.7%, respectively. Adobe Systems advanced 3.8%, after the company posted better than expected results for the first quarter. Tiffany climbed 2.7%, after the retailer reported upbeat profit for the fourth quarter and offered a robust outlook for 2017. The S&P 500 slipped 0.1%, to settle at 2,378.3. The DJIA shed 0.1%, to settle at 20,914.6, while the NASDAQ marginally gained, to close at 5,901.0.

Europe Market Snapshot

Other European markets ended in the green on Friday, as banks rallied after the European Central Bank (ECB) policymaker, Ewald Nowotny, rekindled talk of a possible rate hike. E.ON advanced 4.8%, after the company raised €1.35 billion through the issuance of 200.0 million new shares as a part of a capital increase. Galenica climbed 1.9%, after Martin Ebner boosted his stake in the company to over 20.0%. Novartis and Roche Holding added 0.4% and 0.6%, respectively. On the contrary, Airbus dropped 0.5%, after the French authorities begun a preliminary probe into alleged fraud at the civil aviation business of Airbus Group relating to irregularities concerning third party consultants. The FTSEurofirst 300 index gained 0.2%, to close at 1,491.9. Among other European markets, the German DAX Xetra 30 rose 0.1%, to close at 12,095.2, while the French CAC-40 advanced 0.3%, to settle at 5,029.2.

Asia Market Snapshot

Asian markets are trading mixed this morning. In Japan, markets are closed today for the Vernal Equinox Day. In Hong Kong, China Shenhua Energy has surged 15.9%, after the coal miner reported its first annual profit growth in almost four years. Oil giant, China Petroleum & Chemical has added 0.5%, while peers, CNOOC and Sinopec Oilfield Service have fallen 1.0% and 1.3%, respectively. In South Korea, index majors, Samsung Electronics and LG Electronics have declined 0.8% and 2.3%, respectively. However, SK Hynix and POSCO have advanced 0.5% and 1.5%, respectively. The Hang Seng index is trading 0.6% up at 24,447.9, while the Kospi index is trading 0.5% lower at 2,153.4. On Friday, the Nikkei 225 index fell 0.3%, to close at 19,521.6.

Key Corporate Announcements Today

Interim Dividend Payment Date

AstraZeneca

Quarterly Ex-Dividend Date

Total SA

Key Corporate Announcements for Tomorrow

AGMs

Aluminium Bahrain B.S.C. GDR (Reg S), Blue Prism Group, Centamin (DI), Electronic Data Processing, Wynnstay, Bruner Investment Trust

Interim Dividend Payment Date

Rank Group

Key Economic News

UK Rightmove house price index climbed in March

On an annual basis, the Rightmove house price index in the UK climbed 2.30% in March. The Rightmove house price index had registered a similar rise in the previous month.

UK Rightmove house price index advanced in March

On a monthly basis, the Rightmove house price index rose 1.30% in March, in the UK. The Rightmove house price index had climbed 2.00% in the previous month.

Euro-zone construction output dropped in January

In January, on a monthly basis, the seasonally adjusted construction output fell 2.30% in the Euro-zone. In the previous month, construction output had registered a revised drop of 0.60%.

Euro-zone trade surplus narrowed in January

The Euro-zone has posted the seasonally adjusted trade surplus of €15.70 billion in January, compared to a trade surplus of €23.10 billion in the previous month. Market anticipation was for the region to post a trade surplus of €22.00 billion.

Euro-zone recorded trade deficit in January

The non-seasonally adjusted trade deficit in the Euro-zone recorded a reading of €0.60 billion in January. The Euro-zone had posted a trade surplus of €28.10 billion in the previous month.

Italian trade surplus rose in January

In January, (EU countries) trade surplus in Italy widened to €0.32 billion. Italy had registered a revised trade surplus of €0.06 billion in the previous month.

Italy posted trade deficit in January

In January, (non-EU countries) trade deficit in Italy recorded a reading of €0.89 billion. Italy had posted a trade surplus of €5.67 billion in the previous month.

US leading indicator advanced more than expected in February

On a MoM basis, leading indicator rose 0.60% in February, in the US, compared to a similar rise in the previous month. Market anticipation was for leading indicator to rise 0.50%.

US industrial production remained flat in February

In February, industrial production remained steady on a monthly basis in the US, less than market expectations for an advance of 0.20%. Industrial production had dropped by a revised 0.10% in the previous month.

US capacity utilisation unexpectedly dropped in February

Compared to a revised level of 75.50% in the prior month capacity utilisation eased unexpectedly to a level of 75.40% in the US, in February. Market anticipation was for capacity utilisation to record a flat reading.

US Reuters/Michigan consumer sentiment index rose in March

The flash Reuters/Michigan consumer sentiment index advanced to 97.60 in March, in the US, higher than market expectations of a rise to 97.00. In the prior month, the Reuters/Michigan consumer sentiment index had recorded a reading of 96.30.

US manufacturing production rose as expected in February

In the US, manufacturing production registered a rise of 0.50% on a monthly basis in February, meeting market expectations. In the prior month, manufacturing production had registered a revised similar rise.

Canadian manufacturing shipments surprisingly advanced in January

On a MoM basis in January, manufacturing shipments registered an unexpected rise of 0.60% in Canada, more than market expectations for a drop of 0.30%. In the previous month, manufacturing shipments had climbed by a revised 2.10%.

no_picture_pai.jpg


Disclaimer: Any research has been produced by an independent third party provider. Further details can be provided on request. Guardian Stockbrokers Limited is authorised and regulated by the Financial Services Authority (FSA Ref: 492519). Any report has been prepared using information available from public sources, which are believed to be reliable as at the date of this report. However, Guardian Stockbrokers, its employees and its independent third party provider make no representation as to the accuracy or completeness of this report. This report should therefore not be relied on as accurate or complete. The facts and opinions on this report are subject to change without notice. Guardian Stockbrokers, its employees and its independent third party provider have no obligation to modify or update this report in the event that any information on this report becomes inaccurate. Any report is prepared for informational purpose only, with no recommendation or solicitation to buy or to sell. The background of any individual or other investor has not been considered in providing this report. Individuals and other investors should seek independent financial advice which considers their specific risks, objectives and specific constraints, and make their own informed decisions. Individuals and other investors should note that investing in shares carries a degree of risk and the value of investments can go up or down. Past performance is not a reliable indicator of future performance. Investments should be made with regard to an investor’s total portfolio. Guardian Stockbrokers, its independent third party provider and its employees make no representation or guarantee with regard to any investment noted on this report, and shall therefore not be liable with regard to any loss.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use