Author stories http://www.proactiveinvestors.co.uk Proactiveinvestors Author stories RSS feed en Thu, 23 Nov 2017 07:42:16 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) Danakali seeks London listing for increased liquidity and access to funds http://www.proactiveinvestors.co.uk/companies/news/187603/danakali-seeks-london-listing-for-increased-liquidity-and-access-to-funds-187603.html Tue, 21 Nov 2017 21:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187603/danakali-seeks-london-listing-for-increased-liquidity-and-access-to-funds-187603.html Handheld diagnostics specialist genedrive confirms award of £600,000 grant http://www.proactiveinvestors.co.uk/companies/news/187557/handheld-diagnostics-specialist-genedrive-confirms-award-of-600000-grant-187557.html Tue, 21 Nov 2017 07:39:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187557/handheld-diagnostics-specialist-genedrive-confirms-award-of-600000-grant-187557.html Shefa Yamim A.T.M's chief operating officer writes about its mining potential in Israel http://www.proactiveinvestors.co.uk/companies/news/187500/shefa-yamim-atm-s-chief-operating-officer-writes-about-its-mining-potential-in-israel-187500.html Mon, 20 Nov 2017 09:34:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187500/shefa-yamim-atm-s-chief-operating-officer-writes-about-its-mining-potential-in-israel-187500.html Greatland expects to update market on Ernest Giles within a few weeks http://www.proactiveinvestors.co.uk/companies/news/187424/greatland-expects-to-update-market-on-ernest-giles-within-a-few-weeks-187424.html Fri, 17 Nov 2017 13:05:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187424/greatland-expects-to-update-market-on-ernest-giles-within-a-few-weeks-187424.html Avacta partner to present data on breakthrough technology at Barcelona conference http://www.proactiveinvestors.co.uk/companies/news/187280/avacta-partner-to-present-data-on-breakthrough-technology-at-barcelona-conference-187280.html Wed, 15 Nov 2017 08:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187280/avacta-partner-to-present-data-on-breakthrough-technology-at-barcelona-conference-187280.html Akers Biosciences third-quarter revenues up 10% http://www.proactiveinvestors.co.uk/companies/news/187276/akers-biosciences-third-quarter-revenues-up-10-187276.html Wed, 15 Nov 2017 07:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187276/akers-biosciences-third-quarter-revenues-up-10-187276.html Tech start-up JustBeagle raises £970,000 in seed round financing through Syndicate Room platform http://www.proactiveinvestors.co.uk/companies/news/187227/tech-start-up-justbeagle-raises-970000-in-seed-round-financing-through-syndicate-room-platform-187227.html Tue, 14 Nov 2017 12:12:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187227/tech-start-up-justbeagle-raises-970000-in-seed-round-financing-through-syndicate-room-platform-187227.html Hurricane Energy deserves premium place on London Stock Exchange http://www.proactiveinvestors.co.uk/companies/news/187088/hurricane-energy-deserves-premium-place-on-london-stock-exchange-187088.html Fri, 10 Nov 2017 13:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187088/hurricane-energy-deserves-premium-place-on-london-stock-exchange-187088.html SyndicateRoom launches due diligence guide for crowdfunding investors http://www.proactiveinvestors.co.uk/companies/news/187071/syndicateroom-launches-due-diligence-guide-for-crowdfunding-investors-187071.html Fri, 10 Nov 2017 08:26:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187071/syndicateroom-launches-due-diligence-guide-for-crowdfunding-investors-187071.html Petropavlovsk announces 'successful' pricing of loan notes due in 2022 http://www.proactiveinvestors.co.uk/companies/news/186945/petropavlovsk-announces-successful-pricing-of-loan-notes-due-in-2022-186945.html Wed, 08 Nov 2017 10:46:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/186945/petropavlovsk-announces-successful-pricing-of-loan-notes-due-in-2022-186945.html Markets shrug off N Korea tensions – Core Finance http://www.proactiveinvestors.co.uk/companies/stocktube/8007/markets-shrug-off-n-korea-tensions-core-finance-8007.html It is business as usual for the markets as traders shrug-off the tensions in the Korean Peninsula and refocus on economics.
Watch presenter Matt Brown and Core London CEO Nick Batsford discuss the rebound in the risk assets and the outlook for Real Good PLC, WH Smith.

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Wed, 30 Aug 2017 11:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/8007/markets-shrug-off-n-korea-tensions-core-finance-8007.html
Capital Network: Fahad Changazi highlights 'attractive' VinaCapital Vietnam Opportunity Fund http://www.proactiveinvestors.co.uk/companies/stocktube/7207/capital-network-fahad-changazi-highlights-attractive-vinacapital-vietnam-opportunity-fund-7207.html Capital Network's financial services analyst Fahad Changazi discusses the market opportunity for VinaCapital Vietnam Opportunity Fund Ltd (LON:VOF).

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Fri, 31 Mar 2017 15:16:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7207/capital-network-fahad-changazi-highlights-attractive-vinacapital-vietnam-opportunity-fund-7207.html
Allergy Therapeutics 'confident in the future of the business' http://www.proactiveinvestors.co.uk/companies/stocktube/7217/allergy-therapeutics-confident-in-the-future-of-the-business--7217.html Nick Wykeman, finance director for Allergy Therapeutics plc (LON:AGY) runs Proactive through the company's latest half year results.

Revenue rose 39% to £40.4mln from £29.0mln in the second half of 2015, helped by favourable exchange rate movements. Stripping out currency fluctuations, the increase was still an impressive 18%.

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Wed, 29 Mar 2017 15:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7217/allergy-therapeutics-confident-in-the-future-of-the-business--7217.html
Brockham drill results 'outstanding and extraordinary' says David Lenigas http://www.proactiveinvestors.co.uk/companies/stocktube/7034/brockham-drill-results-outstanding-and-extraordinary-says-david-lenigas-7034.html David Lenigas, oil and gas commentator and executive chairman of Doriemus Energy plc (LON:DOR) talks over the positive update from Angus today on its Brockham re-entry oil well in Surrey.
The former chairman of UKOG said: "When the Horse Hill flowed at a record flow rate for an onshore well in the UK, it shut quite a few people up," he said, adding it wasn't perhaps the 'Dorking Dribler' but in fact the 'Gatwick gusher'.

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Fri, 03 Mar 2017 15:32:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7034/brockham-drill-results-outstanding-and-extraordinary-says-david-lenigas-7034.html
Fed minutes could strike hawkish tone - Tips TV http://www.proactiveinvestors.co.uk/companies/stocktube/6965/fed-minutes-could-strike-hawkish-tone-tips-tv-6965.html Mike Ingram, strategist at BGC Partners, says Fed minutes could sound hawkish, although it remains to be seen if that would result in a sustained rise in the rate hike bets. 
 
Watch the full Tip TV segment know what one should watch out for in the Fed minutes due later today. 
The segment also features trending topics in finance/business, Oanda Forex sentiment, trade ideas and broker recommendations.
 
 
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Wed, 22 Feb 2017 12:23:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6965/fed-minutes-could-strike-hawkish-tone-tips-tv-6965.html
MUST WATCH - Origin Energy video gives insights to Beetaloo shale http://www.proactiveinvestors.co.uk/companies/stocktube/6784/must-watch-origin-energy-video-gives-insights-to-beetaloo-shale-6784.html Falcon Oil & Gas (LON:FOG) has seen great success in Australia’s Beetaloo shale basin, with wells unearthing new discoveries. A new resource evaluation report is currently being worked on to further detail the size and scope of the discovery and the potential of its surrounding areas.

A video from Origin Energy, the project operator, adds valuable insight to the venture.

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Tue, 24 Jan 2017 12:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6784/must-watch-origin-energy-video-gives-insights-to-beetaloo-shale-6784.html
'Trump Bump' still good for Atalaya Mining says Mir http://www.proactiveinvestors.co.uk/companies/stocktube/6626/-trump-bump-still-good-for-atalaya-mining-says-mir-6626.html Copper miner Atalaya Mining PLC (LON:ATYM) has been a major winner from the 'Trump Bump', which has helped most base metal specialists soar on hopes of a massive upsurge in US infrastructure spending.
 
Fundamentals are well supported as well with the mine in Spain starting to ramp up production, says Zak Mir, technical analyst at Tip TV.
 
There is technical support at 120p and Mir is looking for a share price of 160-170p over the first quarter.
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Fri, 16 Dec 2016 12:04:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6626/-trump-bump-still-good-for-atalaya-mining-says-mir-6626.html
Fed threats make the pound an easy currency trade says Mir http://www.proactiveinvestors.co.uk/companies/stocktube/6625/fed-threats-make-the-pound-an-easy-currency-trade-says-mir-6625.html Charts for the pound against the US dollar, or cable as it is known, are not looking encouraging suggest Zak Mir, technical analyst at Tip TV.

The US Federal Reserve has threatened to raise interest rates three times next year, but Bank of England governor Mark Carney is not even going to reverse his rate cut after Brexit, says Mir.

That makes for an easy trade he says.

If the pound breaks below US$1.23, the charts say it will head back to US$1.12 while any strength up to US$1.27 is a shorting opportunity.

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Fri, 16 Dec 2016 11:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6625/fed-threats-make-the-pound-an-easy-currency-trade-says-mir-6625.html
Nighthawk Energy technicals 'starting to feel friendly' says Mir http://www.proactiveinvestors.co.uk/companies/stocktube/6623/nighthawk-energy-technicals-starting-to-feel-friendly-says-mir-6623.html US oil and gas group Nighthawk Energy PLC (LON:HAWK) has been helped by a cash raise in August and a settlement of a long-standing legal dispute.

As a result, the ‘technicals are starting to feel friendly’, says Zak Mir, chart analyst at Tip Tv.

He tipped the shares to hit 1.7p by early 2017 and as the shares have traded at or above the 200-day average since September that advice still holds.

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Fri, 16 Dec 2016 11:32:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6623/nighthawk-energy-technicals-starting-to-feel-friendly-says-mir-6623.html
Still some downside at AstraZeneca says Zak Mir http://www.proactiveinvestors.co.uk/companies/stocktube/6576/still-some-downside-at-astrazeneca-says-zak-mir-6576.html AstraZeneca PLC (LON:AZN) shares have fallen recently with the sector on the back of fears US drugs may be made cheaper by new chairman Donald Trump.

The new president has seemingly stolen a policy from his presidential rival Hillary Clinton, says Zak Mir, Tip TV’s technical analyst.

Astra has very important cancer drug trials underway with results due next year.

The price chart shows falls in October and November and with the main support level at £38 there may be a couple of pounds more on the downside before bargain hunters appear says Mir.

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Thu, 08 Dec 2016 12:35:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6576/still-some-downside-at-astrazeneca-says-zak-mir-6576.html
In the papers: Klopp, Telefónica, BT http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26392/in-the-papers-klopp-telefnica-bt-26392.html The Times
‘Staggering’ rise in fines for failures on pensions: Thousands of small companies have been fined for failing to enroll staff in a workplace pension as businesses struggle to cope with the biggest overhaul to retirement savings in generations.

Stormy conditions force companies to scuttle floats: Two big stock market flotations, with a combined value of nearly £15 billion, were dropped amid continued uncertainty about the impact of Brexit on the economy.

Klopp plays the ambassador in balancing act: The Liverpool FC Manager Jürgen Klopp has become a brand ambassador for one of the world’s largest athletic footwear and apparel manufacturers.

Debts before dividends at Telefónica: The Spanish parent of O2 slashed its dividend for the next two years in an attempt to bring down its debt. Telefónica, which had stated it would pay €0.75 per share this year, announced it would instead provide dividends of €0.55 and €0.40 per share in 2016 and 2017 respectively.

Bond yields jump as strong growth ends chance of rate cut: Government borrowing costs jumped on the back of strong growth figures as investors ruled out a rate cut by the Bank of England next week.

Italian job takes shine off strong BT profits: BT has taken a £145 million hit after an investigation into “inappropriate management” at its Italian division led to the suspension of two senior Executives.

High prices push demand for gold down into the pits: Physical gold demand fell nearly a third in the third quarter as a rally in prices curbed jewellery-buying in the key Chinese and Indian markets.

Retailers have their best month after shoppers blow hot and cold: Retailers had their best month for sales in more than a year, according to a CBI survey.

King coal loses its crown and sceptre: Coal-fired power has hit a record low, with gas providing half of all electricity in Britain, according to government figures. Coal plants produced less than 5% of the nation’s energy as output from big suppliers fell by 77% in the third quarter, the Department for Business, Energy and Industrial Strategy said.

Volkswagen still has a mountain to climb: Volkswagen claims to be the world’s biggest carmaker in 2016 despite plunging profits at its core VW brand in third-quarter results.

Phone fiasco hits Samsung’s profits: Samsung Electronics has vowed to bounce back from a troubled quarter in which problems with its Galaxy Note 7 phones pushed quarterly profits down 30% from a year earlier.

Swiss engineer blames Brexit for downturn: One of Europe’s largest engineering groups has sounded an alarm over Brexit after U.K. orders halved following the referendum vote.

Inflation and rising costs take toll on disposable cash: British families have more spare cash to spend compared with last year but it may not feel like it as rising costs and inflation eat into household finances.

Summer stresses turn up the heat on Berendsen: Shares in Berendsen plummeted after the laundry business issued a profit warning following summer “instability”.

The Independent
Nissan to build new models in Sunderland despite Brexit vote: Nissan, the Japanese carmaker, has decided that it will build its next Qashqai SUV in Sunderland in one of the first major investment decisions in the car industry since the U.K. voted to leave the EU.

Brexit helps boost Barclays profits by 35%: Barclays has announced a 35% profit increase spurred by Brexit. Revenues at the bank’s bond-trading division, which buys and sells debt, rocketed 40% in the months after the referendum, Barclays said.

The Daily Telegraph
Challenger bank TSB says customers undaunted by Brexit: The British challenger bank owned by Spanish banking group Sabadell has enjoyed a jump in profits as it continues to attract customers undaunted by the Brexit vote.

Debenhams profits slip as it looks to shift away from reliance on clothing: Debenhams' profits have edged downwards as the retail group welcomes a new Chief Executive.

Belgian Walloons yield on EU-Canada deal under pressure, but sorry saga is a warning for Britain: Belgium's French-speaking Walloons have finally backed down on the EU's long-awaited trade deal with Canada after a week of marathon talks, agreeing to accept the terms with a declaratory protocol that changes nothing.

Amazon shares slump after profits disappoint: Amazon’s streak of record quarterly profits ground to a halt on Thursday after the online retail giant admitted its growth has slowed due to a steep hike in shipping costs

Twitter to cut workforce by 9% as it reports more heavy losses: Twitter has confirmed that it will lay off hundreds of members of staff, as it reported its ninth quarter of declining revenue growth.

The Questor Column:

Worried that the stock market is overvalued? This is the company for you: There are three sizeable London-listed investment trusts that fit the bill: RIT Capital Partners, Personal Assets and Ruffer Investment Company. Ruffer is arguably the best in this respect. It barely registered a blip during the financial crisis. (The chart shows how the fund’s net asset value has performed rather than its shares, as the NAV is a better reflection of the fund Manager’s ability. However, the shares, which closed at 226p, have closely tracked the NAV – which was an estimated 227.8p.) Despite this resilience, it has still outperformed the index since its launch in 2004. The portfolio is strikingly different from your average stock market fund. About 45% is in index-linked bonds and a further 16% in Japanese shares, which represent the portfolio’s largest exposure to the stock market. British shares account for just 8%, while gold and gold-related shares account for 7%. The trust’s track record suggests that it has a knack of holding the right mix of assets at the right time. Questor feels that it is about the safest around if you are nervous about the markets at current valuations. The fee is a little on the high side at 1.18% a year (the “ongoing charge”) but the performance in good times and bad justifies it. The trust is trading at a tiny discount of about 1%. Although the current yield is about 1.5%, the fund indicated recently it was likely to be cut to reflect the capital preservation goal. Questor says “Buy”.

The Guardian
Bill for PPI mis-selling scandal tops £40 billion: Banks and financial services companies have racked up more than £40 billion in costs to handle the payment protection insurance scandal.

Barclays' PPI costs rise by another £600 million: The cost of the payment protection insurance scandal has topped £40 billion after Barclays took another £600 million hit to pay compensation to customers who were mis-sold the product.

Deutsche Bank swings to profit despite anxiety over mis-selling scandal: Deutsche Bank surprised investors by reporting a profit for the third quarter of the year, as its Chief Executive admitted the huge settlement it faces from American authorities for a decade-old mis-selling scandal was having “an unsettling effect”.

Google's Alphabet defies expectations with 20% revenue rise: Google’s parent Alphabet defied expectations to report a 20.2% rise in quarterly revenue on Thursday, while retail giant Amazon slightly missed predicted forecasts due to spending on preparations for the holiday season.

Daily Mail
Debenhams' annual profits drop, but shares up as in line with expectations, and Selfridges' profits fall too: Debenhams delivered results in line with market expectations, although that was still a drop in annual profits, and said it was well-placed for the year ahead. Britain’s second biggest department store saw its pretax profits fall 10.4% to £101.7million for the 52 weeks to August 27 as like-for-like sales edged up 0.7%, while total sales rose 1.3% to £2.9 billion.

Bank of England to shelve record rate cut and QE as U.K. economic growth holds up well after Brexit vote: The Bank of England will shelve plans to cut rates towards zero and charge up quantitative easing after U.K. economic growth defied expectations over the summer.

Harry Potter working his magic at Bloomsbury with children's book sales up 63%: Harry Potter continues to cast a spell over millions of readers, according to its publisher. Bloomsbury said strong sales of the illustrated edition of Harry Potter and the Philosopher's Stone helped contribute to the 'stand out' performance of its children's division.

Engineering firm AMEC Foster Wheeler's shares plunge 20% on turnaround fears: AMEC Foster Wheeler was the FTSE's biggest casualty as it revealed the extent of work needed to turn the business around. The engineering firm said an extra £100 million of cost cuts will be made but fuelled concerns about its turnaround by scrapping next month's capital markets day.

Daily Express
High demand for fibre broadband boosts BT sales: Strong demand for fibre broadband connections and improved TV audiences for its sports package were highlights for BT as it stayed on track to hit annual profit forecasts.

Banking software giant Misys scraps its £5.5 billion float bid: The new issues market suffered another blow as banking software giant Misys scrapped plans for a float billed as the U.K.’s biggest this year.

Home buyer confidence at pre-Brexit levels, say estate agents: Britain's property market saw confidence grow in September, in yet more evidence that forecasts of a Brexit-related downturn failed to materialise. The number of home hunters increased last month from August, according to figures from the National Association of Estate Agents (NAEA).

More good news on Britain's economy as retail spending booms in October: Britain's buoyant economy looks set to continue growing in the fourth quarter of the year, after a key survey showed consumers kept spending in October.

EasyJet Boss confident of post-Brexit airspace deal between Britain and EU: An EasyJet Director said she is confident that a post-Brexit airspace deal can be reached between the EU and Britain in light of the benefits to each economy.

The Scottish Herald
Fish farmers could provide massive boost for economy: Aquaculture firms such as fish farmers could boost their total annual contribution to Scotland’s economy by around £2 billion over the next 14 years and create about 10,000 jobs in the process an industry report has found.

RBS funding deal helps Dalkeith firm get acquisitive: Construction and waste services firm NWH Group is planning further acquisitions after it secured a £7 million finance facility from RBS.

Servest will retain Arthur McKay brand: The Arthur McKay brand will be retained “at least for the medium term” said the Chief Executive of Servest Group, which completed the acquisition of the Midlothian-based building services and facilities management company.

SLI launches short-term bond fund: Standard Life Investments has launched a fund which aims to address the potential for significant drawdown that could arise because of increased volatility in the fixed income market. The Short-Dated Corporate Bond Fund is an actively managed, diversified portfolio of predominantly sterling-denominated corporate bonds with a maturity of less than five years.

John Menzies completes £75 million share placement John Menzies has successfully completed a share placement to fund its acquisition of Florida-based airline services company ASIG.

The Scotsman
Tennent’s Owner wary of Brexit impact as profits fall: The Owner of Scotland’s best-selling lager flagged a ‘volatile’ consumer response to the Brexit vote as it reported a fall in first-half earnings.

U.K. economic growth slows to 0.5% in third quarter: The U.K. economy grew by a better-than-expected 0.5% in the three months to September, although this was down from 0.7% in the second quarter, official figures revealed.

Food firm's profits boosted by Kirkcudbright expansion: The company behind pate maker Castle MacLellan Foods has doubled its profits with an expansion of its Kirkcudbright plant helping to underpin the rise.

Edinburgh is preferred location for top retail brands as Capital out-performs Glasgow: Edinburgh is the preferred location for leading retail brands opening in Scotland, according to a report.

City A.M.
Expedia posts healthy revenues in the third quarter: Holiday website Expedia reported healthy growth in its revenues in the third quarter of 2016.

Financial fraud still neglected by most business leaders, despite over a quarter falling victim to or being the target of a scam in the last two years: Over two-thirds (69%) of business leaders have done nothing to protect their business from financial fraud, research out has found.

Don't rely on downsizing to make up for your insufficient pension: After years of runaway house prices, few will be surprised that a sizeable proportion of the U.K.’s net wealth is tied up in property. The latest ONS statistics show that dwellings make up a massive 62%, or £5.5 trillion, of the country’s £8.8 trillion total.

Overseas operations at this Japanese bank are No-mur-a in the red: Net income leapt 31% at Japanese bank Nomura as the broker benefited from an increased investor appetite for currency hedges and bonds.

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Fri, 28 Oct 2016 08:23:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26392/in-the-papers-klopp-telefnica-bt-26392.html
Market briefing: UK markets finished higher on Friday, supported by a jump in travel related stocks http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26402/market-briefing-uk-markets-finished-higher-on-friday-supported-by-a-jump-in-travel-related-stocks-26402.html UK Market Snapshot
UK markets finished higher on Friday, supported by a jump in travel related stocks. International Consolidated Airlines Group rose 5.9%, after it raised its interim dividend by 10.0% and reported an in-line result for the July to September quarter. Peer, easyJet advanced 3.4%, while cruise company, Carnival added 3.3%. Elementis soared 11.1%, as it expects its earnings for 2016 to be in-line with market expectations. Electrocomponents climbed 4.8%, after a broker initiated coverage with ‘Buy’ rating and a target price of 420.0p. On the downside, Berendsen lost 4.4%, following a broker downgrade on the stock to ‘Hold’ from ‘Buy’. Royal Bank of Scotland Group fell 1.2%, after it posted a net loss for the third quarter and indicated that it would not be able to meet its long-term financial targets because of low interest rates. The FTSE 100 advanced 0.1%, to close at 6,996.3, while the FTSE 250 rose 0.4%, to settle at 17,644.8.

US Market Snapshot
US markets fell on Friday, after the FBI restarted its investigation into Presidential candidate, Hillary Clinton’s use of an unauthorised e-mail server. Meanwhile, data showed that the US annualised GDP expanded more than expected in the third quarter. Amgen plunged 9.6%, as sales of its top drug declined in the third quarter. Amazon.com declined 5.1%, after it reported downbeat earnings for the third quarter amid increased spending. On the brighter side, Hershey surged 7.2%, following upbeat profit for the third quarter. The company also increased its projected earnings for the full year. Google parent, Alphabet advanced 0.3%, after it posted upbeat revenue and profit in the third quarter, led by growth in internet advertisement sales. The S&P 500 slipped 0.3%, to settle at 2,126.4. The DJIA marginally shed, to settle at 18,161.2, while the NASDAQ slid 0.5%, to close at 5,190.1.

Europe Market Snapshot
Other European markets finished mostly lower on Friday, weighed down by some dismal corporate updates. Novo Nordisk sank 15.0%, after it slashed its long-term guidance and lowered its financial targets for 2016 amid ongoing difficulties in the US market. Anheuser-Busch InBev eased 4.3%, after it reported a decline in its earnings for the third quarter and reduced its projected revenue for the full year due to drop in volumes in Brazil. On the contrary, Sanofi edged up 3.7%, after it boosted its earnings outlook for the year following higher than expected profit for the third quarter. UBS Group gained 2.4%, as it reported upbeat pre-tax profit in the third quarter. The FTSEurofirst 300 index declined 0.4%, to close at 1,345.9. Among other European markets, the German DAX Xetra 30 slid 0.2%, to close at 10,696.2, while the French CAC-40 advanced 0.3%, to settle at 4,548.6.

Asia Market Snapshot
Markets in Asia are trading mostly lower this morning, amid rising uncertainty stemming from the looming Presidential election in the US and after major crude producers failed to reach a deal on supply cuts. In Japan, oil giants, Inpex and Japan Petroleum Exploration have shed 1.9% and 2.7%, respectively, on lower crude oil prices. On the flipside, shipping companies, Kawasaki Kisen Kaisha, Nippon Yusen Kabushiki Kaisha and Mitsui OSK Lines have gained 0.4%, 4.5% and 5.2%, respectively, after they agreed to merge their container operations into one company. In Hong Kong, AIA Group has tumbled 5.8%, after China UnionPay halted credit and debt card payments for most insurance policies in Hong Kong. In South Korea, POSCO and Samsung Electronics has added 0.9% and 1.0%, respectively. The Nikkei 225 index is trading 0.3% lower at 17,389.1. The Hang Seng index is trading 0.1% up at 22,984.4, while the Kospi index is trading 0.6% lower at 2,007.6.

Commodity, Currency and Fixed Income Snapshots

Crude Oil
At 0430GMT today, Brent Crude Oil one month futures contract is trading 0.52% or $0.26 lower at $49.45 per barrel, after the OPEC meeting in Vienna failed to reach an agreement to reduce oil production. On Friday, the contract declined 1.51% or $0.76, to settle at $49.71 per barrel, amid uncertainty over proposed meeting of major crude oil producers at the weekend. Meanwhile, Baker Hughes reported that US crude oil drilling rigs declined by 2 to 441 in the week ended 28 October 2016.

Gold
At 0430GMT today, Gold futures contract is trading 0.09% or $1.20 higher at $1278.00 per ounce. On Friday, the contract advanced 0.58% or $7.30, to settle at $1276.80 per ounce, following a weaker US Dollar and as equities fell after news of fresh probe into Hillary Clinton’s emails by the FBI.

Currency

At 0430GMT today, the EUR is trading 0.15% lower against the USD at $1.0967, ahead of the Euro-zone GDP growth for the third quarter and consumer price index for October, scheduled to be released today. On Friday, the EUR rose 0.82% versus the USD, to close at $1.0983, after Germany’s inflation advanced more than expected in October, hitting a two-year high level, indicating that the European Central Bank’s monetary policy is gradually eliminating the threat of deflation in region’s power house economy. In other news, US economy grew at its fastest pace in two years in the third quarter.

At 0430GMT today, the GBP is trading 0.07% higher against the USD at $1.2188, ahead of UK’s mortgage approvals data for September, set to release in a few hours. Additionally, market participants will look forward to the US personal spending and income figures, both for September, due later in the day. On Friday, the GBP strengthened 0.16% versus the USD, to close at $1.2180.

Fixed Income
In the US, treasury prices ended mixed. However, the treasuries experienced a slight demand from investors after the Federal Bureau of Investigation reviewed newly discovered emails of Hillary Clinton’s private computer server. On Friday, yield on 10-year notes rose 1 basis point to 1.86%, while yield on 2-year notes lost 1 basis point to 0.86%. Meanwhile, 30-year bond yield rose 2 basis points to 2.62%.


Key Economic News

UK business barometer recorded a rise in October

The business barometer in the UK rose to a level of 37.00 in October, compared to a reading of 24.00 in the prior month.

Euro-zone economic sentiment indicator advanced surprisingly in October

In October, the economic sentiment indicator registered an unexpected rise to a level of 106.30 in the Euro-zone, compared to a reading of 104.90 in the prior month. Markets were expecting the economic sentiment indicator to record a flat readinga.

Euro-zone business climate indicator climbed in October

In the Euro-zone, the business climate indicator climbed to 0.55 in October, compared to a revised level of 0.44 in the previous month. Market expectation was for the business climate indicator to rise to a level of 0.46.

Euro-zone industrial confidence index advanced in October

The industrial confidence index recorded a rise to -0.60 in the Euro-zone, in October, compared to market expectations of a rise to a level of -1.60. The industrial confidence index had registered a revised level of -1.80 in the previous month.

Euro-zone consumer confidence index climbed in October

The final consumer confidence index registered a rise to -8.00 in the Euro-zone, in October, in line with market expectations. The preliminary figures had also indicated an advance to -8.00. In the prior month, the consumer confidence index had recorded a level of -8.20.

Euro-zone services sentiment indicator registered an unexpected rise in October

In the Euro-zone, the services sentiment indicator climbed unexpectedly to a level of 12.00 in October, compared to a reading of 10.00 in the prior month. Markets were anticipating the services sentiment indicator to record a flat reading.

German CPI advanced as expected in October

The preliminary consumer price index (CPI) rose 0.80% on an annual basis in Germany, in October, meeting market expectations. The CPI had risen 0.70% in the prior month.

German CPI advanced as expected in October

In October, on a MoM basis, the preliminary CPI in Germany recorded a rise of 0.20%, compared to a rise of 0.10% in the previous month. Markets were anticipating the CPI to climb 0.20%.

German HICP advanced as expected in October

In October, the flash harmonised consumer price index (HICP) in Germany climbed 0.70% on an annual basis, at par with market expectations. The HICP had registered a rise of 0.50% in the previous month.

German HICP advanced more than expected in October

In October, on a MoM basis, the preliminary HICP advanced 0.20% in Germany, more than market expectations for a rise of 0.10%. In the previous month, the HICP had recorded a flat reading.

French EU normalised CPI advanced less than expected in October

In France, the flash EU normalised CPI climbed 0.10% on a monthly basis in October, lower than market expectations for an advance of 0.20%. EU normalised CPI had dropped 0.20% in the prior month.

French GDP advanced less than expected in 3Q 2016

The preliminary gross domestic product (GDP) in France recorded a rise of 0.20% on a quarterly basis in 3Q 2016, lower than market expectations for a rise of 0.30%. In the prior quarter, GDP had recorded a drop of 0.10%.

French GDP rose less than expected in 3Q 2016

The preliminary gross domestic product (GDP) advanced 1.10% on an annual basis in France, in 3Q 2016, compared to a rise of 1.30% in the previous quarter. Market expectation was for GDP to rise 1.20%.

French CPI (ex-tobacco) remained steady in October

The preliminary CPI (ex-tobacco) remained unchanged in France on a monthly basis, in October. The CPI (ex-tobacco) had fallen 0.20% in the previous month.

French PPI registered a rise in September

In France, the producer price index (PPI) recorded a rise of 0.10% in September on a monthly basis. In the prior month, the PPI had recorded a flat reading.

French consumer spending surprisingly fell in September

In France, consumer spending unexpectedly dropped 0.20% on a monthly basis in September, compared to a revised rise of 0.80% in the previous month. Market expectation was for consumer spending to rise 0.30%.

Spanish HICP index rose more than expected in October

In October, the flash HICP index advanced 0.80% on a MoM basis in Spain, compared to a rise of 0.70% in the previous month. Market expectation was for the HICP index to rise 0.60%.

Spanish CPI rose more than expected in October

The flash CPI registered a rise of 0.70% in Spain on a YoY basis in October, more than market expectations for an advance of 0.30%. In the previous month, the CPI had climbed 0.20%.

Spanish GDP advanced more than expected in 3Q 2016

In Spain, the flash GDP climbed 3.20% on a YoY basis in 3Q 2016, higher than market expectations for a rise of 3.10%. In the previous quarter, GDP had registered a similar rise.

Spanish CPI advanced more than expected in October

In October, the preliminary CPI in Spain rose 1.10% on a MoM basis, higher than market expectations for a rise of 0.80%. In the prior month, the CPI had recorded a flat reading.

Spanish HICP index advanced more than expected in October

In October on an annual basis, the preliminary HICP index in Spain advanced 0.50%, more than market expectations for an advance of 0.30%. In the previous month, the HICP index had registered an unchanged reading.

Spanish GDP advanced as expected in 3Q 2016

On a QoQ basis in 3Q 2016, the preliminary GDP rose 0.70% in Spain, at par with market expectations. In the prior quarter, GDP had advanced 0.80%.

Swiss KOF economic barometer advanced in October

In Switzerland, the KOF economic barometer rose to a level of 104.70 in October, higher than market expectations of a rise to 101.80. In the prior month, the KOF economic barometer had registered a revised reading of 101.60.

US annualised GDP advanced more than expected in 3Q 2016

On a quarterly basis in 3Q 2016, the flash annualised gross domestic product registered a rise of 2.90% in the US, more than market expectations for an advance of 2.60%. In the previous quarter, the annualised GDP had risen 1.40%.

US Reuters/Michigan consumer sentiment index fell in October

The final Reuters/Michigan consumer sentiment index in the US eased to 87.20 in October, compared to market expectations of a drop to a level of 88.20. The preliminary figures had recorded a drop to 87.90. In the previous month, the Reuters/Michigan consumer sentiment index had recorded a reading of 91.20.

US personal consumption rose less than expected in 3Q 2016

On a QoQ basis, in 3Q 2016, the preliminary personal consumption rose 2.10% in the US, lower than market expectations for a rise of 2.60%. Personal consumption had recorded a rise of 4.30% in the previous quarter.

US core personal consumption expenditure advanced more than expected in 3Q 2016

In 3Q 2016, on a QoQ basis, the preliminary core personal consumption expenditure in the US recorded a rise of 1.70%, compared to a rise of 1.80% in the prior quarter. Markets were anticipating core personal consumption expenditure to climb 1.60%.

US GDP price index rose more than expected in 3Q 2016

On a QoQ basis, in the US, the flash gross domestic product price index registered a rise of 1.50% in 3Q 2016, more than market expectations for an advance of 1.40%. The GDP price index had climbed 2.30% in the prior quarter.

US employment cost index advanced as expected in 3Q 2016

On a QoQ basis, in the US, the employment cost index climbed 0.60% in 3Q 2016, meeting market expectations. The employment cost index had registered a similar rise in the prior quarter.

Japanese industrial production advanced less than expected in September

In September, the preliminary industrial production climbed 0.90% in Japan on an annual basis, lower than market expectations for a rise of 1.90%. In the previous month, industrial production had recorded a rise of 4.50%.

Japanese retail trade remained steady in September

On a monthly basis, retail trade remained flat in September, in Japan, compared to a revised drop of 1.20% in the previous month. Market anticipation was for retail trade to rise 0.20%.

Japanese large retailer's sales declined more than expected in September

Large retailer's sales dropped 3.20% on a monthly basis in Japan in September, higher than market expectations for a fall of 2.70%. In the previous month, large retailer's sales had recorded a drop of 3.60%.

Japanese vehicle production registered a rise in September

Vehicle production in Japan rose 1.40% in September on a YoY basis. Vehicle production had risen 8.80% in the prior month.

Japanese retail trade declined more than expected in September

Retail trade slid 1.90% on a YoY basis in September, in Japan, more than market expectations for a fall of 1.80%. In the previous month, retail trade had fallen by a revised 2.20%.

Japanese industrial production remained unchanged in September

The flash industrial production remained flat in Japan on a MoM basis in September, compared to a rise of 1.30% in the previous month. Market anticipation was for industrial production to climb 0.90%.

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Mon, 31 Oct 2016 07:48:00 +0000 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26402/market-briefing-uk-markets-finished-higher-on-friday-supported-by-a-jump-in-travel-related-stocks-26402.html
Market briefing: US markets ended lower yesterday, as investors assessed mixed earnings reports and as real estate sector declined http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26391/market-briefing-us-markets-ended-lower-yesterday-as-investors-assessed-mixed-earnings-reports-and-as-real-estate-sector-declined-26391.html UK Market Snapshot
UK markets finished mixed yesterday, with the FTSE 100 index recording gains, after economic data showed that UK’s preliminary GDP growth advanced more than anticipated for the third quarter. Barclays climbed 4.8%, following upbeat profit for the third quarter as its fixed-income division reported highest revenue in more than two years. Other lenders, Royal Bank of Scotland Group and Lloyds Banking Group gained 1.4% and 2.9%, respectively. On the contrary, Amec Foster Wheeler sank 20.4%, as the company expects further decline in the oil and gas sector next year and its CEO postponed outlines of a new turnaround plan. BT Group lost 2.2%, after its net pension deficit rose to £9.5 billion from £6.2 billion reported at 30 June. International Consolidated Airlines Group shed 2.2%, after a leading broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. The FTSE 100 rose 0.4%, to close at 6,986.6, while the FTSE 250 fell 0.5%, to settle at 17,581.3.

US Market Snapshot
US markets ended lower yesterday, as investors assessed mixed earnings reports and as real estate sector declined. Community Health Systems sank 50.0%, after it reported its preliminary results for the third quarter fell short of analysts’ projections. Gannett tanked 17.1%, as it swung to a loss in the third quarter. On the brighter side, CenturyLink surged 9.7%, on the back of report that the former is in advanced merger talks with Level 3 Communications, up 10.6%. F5 Networks jumped 9.6%, after it posted upbeat results for the fourth quarter of the fiscal 2016 and some leading brokers increased their target prices on the share. The S&P 500 eased 0.3%, to settle at 2,133.0. The DJIA dipped 0.2%, to settle at 18,169.7, while the NASDAQ dropped 0.7%, to close at 5,216.0.

Europe Market Snapshot
Other European markets closed mostly higher yesterday, amid mixed corporate earnings results and upbeat GDP growth data from the UK. STMicroelectronics surged 10.5%, after its projected gross margin for the fourth quarter surpassed market estimates. Banco Bilbao Vizcaya Argentaria advanced 2.8%, as it reported better than expected profit for the third quarter. Bucking the trend, Nokia plummeted 7.6%, after it posted a net loss for the three months ended 30 September due to weak mobile-network sales. ABB plunged 6.6%, after it reported a drop in its revenue for the third quarter, led by market uncertainties. Fingerprint Cards tumbled 4.8%, as it posted dismal operating profit for the third quarter. The FTSEurofirst 300 index rose 0.1%, to close at 1,350.7. Among other European markets, the German DAX Xetra 30 added 0.1%, to close at 10,717.1, while the French CAC-40 marginally slipped, to settle at 4,533.6.

Asia Market Snapshot
Markets in Asia are trading mostly lower this morning. In Japan, Financials sector stocks, Mitsubishi UFJ Financial Group and Dai-ichi Life Holdings have advanced 1.9% and 3.9%, respectively. Energy sector stocks, JX Holdings and Inpex have risen 0.8% and 1.1%, respectively, tracking slight gains in crude oil prices. On the losing side, Hino Motors, Kao and Fuji Electric have declined 4.2%, 5.4% and 5.6%, respectively. In Hong Kong, lenders, Industrial and Commercial Bank of China and Bank of East Asia have shed 0.4% and 1.1%, respectively. In South Korea, index major, POSCO has dropped 3.1%, while Samsung Electronics has gained 1.8%. The Nikkei 225 index is trading 0.5% higher at 17,426.5. The Hang Seng index is trading 0.4% down at 23,050.8, while the Kospi index is trading 0.2% lower at 2,019.8.

Commodity, Currency and Fixed Income Snapshots

Crude Oil
At 0330GMT today, Brent Crude Oil one month futures contract is trading 0.06% or $0.03 higher at $50.50 per barrel, ahead of Baker Hughes weekly oil rig count data, scheduled to release later in the day. Yesterday, the contract climbed 0.98% or $0.49, to settle at $50.47 per barrel, amid optimism that major crude oil producers would cap crude output following news that Energy Ministers from Saudi Arabia and Gulf informed its Russian counterpart that they are willing to cut output by 4%.

Gold
At 0330GMT today, Gold futures contract is trading 0.20% or $2.60 higher at $1272.10 per ounce. Yesterday, the contract advanced 0.23% or $2.90, to settle at $1269.50 per ounce, reversing its losses from the prior session, following sell-off in the US equities.

Currency
At 0330GMT today, the EUR is trading 0.08% higher against the USD at $1.0903, ahead of Euro-zone consumer confidence for October, due to release in a few hours. Additionally, Germany’s preliminary consumer price index for October, slated to release later today, will be closely monitored by market participants. Yesterday, the EUR fell 0.12% versus the USD, to close at $1.0894.

At 0330GMT today, the GBP is trading 0.19% higher against the USD at $1.2184. The US preliminary annualised GDP growth for the third quarter and Reuters/Michigan consumer sentiment index for October, set to release later today, will be on investor’s radar. Yesterday, the GBP declined 0.69% versus the USD, to close at $1.2161. Meanwhile, the UK’s preliminary GDP growth advanced better than expected for the third quarter.

Fixed Income
In the US, long term treasury prices fell and pushed yields higher, on mounting worries related to additional monetary stimulus by major central banks. Also, upbeat UK GDP data eased concerns about global growth and led to sell-off in government bonds. Yesterday, yield on 10-year notes jumped 6 basis points to 1.85%, while yield on 2-year notes rose 1 basis point to 0.87%. Meanwhile, 30-year bond yield surged 7 basis points to 2.60%.


Key Economic News

UK index of services rose more than expected in August

On a monthly basis, the index of services advanced 0.20% in August, in the UK, higher than market expectations for a rise of 0.10%. The index of services had registered a rise of 0.40% in the prior month.

UK GDP advanced more than expected in 3Q 2016

In 3Q 2016, the flash gross domestic product (GDP) advanced 2.30% in the UK on a YoY basis, compared to a rise of 2.10% in the previous quarter. Markets were anticipating GDP to climb 2.10%.

UK index of services rose as expected in August

On a monthly basis, in August, the index of services climbed 0.80% in the UK, meeting market expectations. The index of services had risen 0.60% in the May-July 2016 period.

UK CBI distributive trade survey's retail sales balance advanced in October

In the UK, the CBI distributive trade survey's retail sales balance advanced to 21.00% in October, compared to a level of 8.00% in the previous month. Markets were expecting the CBI distributive trade survey's retail sales balance to rise to a level of 2.00%.

UK GDP advanced more than expected in 3Q 2016

The preliminary gross domestic product (GDP) advanced 0.50% on a QoQ basis in 3Q 2016, in the UK, more than market expectations for a rise of 0.30%. GDP had risen 0.70% in the previous quarter.

Euro-zone M3 money supply rose less than expected in September

In September, M3 money supply in the Euro-zone registered a rise of 5.00% on an annual basis, less than market expectations for an advance of 5.10%. In the previous month, M3 money supply had risen 5.10%.

Euro-zone private sector loans registered a rise in September

In the Euro-zone, private sector loans registered a rise of 1.80% in September on a YoY basis. Private sector loans had registered a similar rise in the previous month.

Euro-zone three-month average of M3 money supply registered a rise in the July-September 2016 period

On an annual basis, the three-month average of M3 money supply rose 5.00% in the Euro-zone, in the July-September 2016 period. The three-month average of M3 money supply had registered a similar rise in the June-August 2016 period.

Italian annual wage inflation remained steady in September

In Italy, the annual wage inflation remained flat at a level of 0.60% in September.

Italian wage inflation remained steady in September

The wage inflation remained unchanged at a level of 0.00% in September, in Italy.

Italian business confidence index climbed in October

The business confidence index recorded a rise to 103.00 in Italy, in October, compared to a revised level of 102.10 in the previous month. Market expectation was for the business confidence index to rise to 102.20.

Italian consumer confidence index slid unexpectedly in October

In October, the consumer confidence index registered an unexpected drop to a level of 108.00 in Italy, compared to market expectations of a steady reading. In the prior month, the consumer confidence index had registered a revised level of 108.60.

Spanish unemployment rate (survey) recorded a drop in 3Q 2016

Unemployment rate (survey) in Spain registered a drop to 18.90% in 3Q 2016, compared to market expectations of a fall to a level of 19.30%. In the previous quarter, unemployment rate (survey) had recorded a level of 20.00%.

Swiss UBS consumption indicator recorded a rise in September

UBS consumption indicator in Switzerland rose to a level of 1.59 in September. UBS consumption indicator had registered a level of 1.53 in the prior month.

US durable goods orders (ex transportation) rose as expected in September

In September, the flash durable goods orders (ex transportation) registered a rise of 0.20% in the US on a MoM basis, compared to a drop of 0.20% in the previous month. Markets were anticipating durable goods orders (ex transportation) to climb 0.20%.

US durable goods orders unexpectedly slid in September

In September, on a MoM basis, the preliminary durable goods orders in the US recorded an unexpected drop of 0.10%, less than market expectations for an unchanged reading. Durable goods orders had registered a rise of 0.10% in the previous month.

US pending home sales advanced less than expected in September

In the US, pending home sales rose 2.00% in September on a YoY basis, less than market expectations for an advance of 4.00%. Pending home sales had risen by a revised 3.90% in the prior month.

US initial jobless claims declined in the last week

In the US, the seasonally adjusted initial jobless claims dropped to 258.00 K in the week ended 22 October 2016, compared to a revised level of 261.00 K in the previous week. Market expectation was for initial jobless claims to ease to a level of 256.00 K.

US non-defence capital goods orders (ex aircraft) dropped more than expected in September

In September, on a MoM basis, the flash non-defence capital goods orders (ex aircraft) in the US slid 1.20%, higher than market expectations for a fall of 0.10%. The non-defence capital goods orders (ex aircraft) had climbed 0.90% in the previous month.

US continuing jobless claims dropped in the last week

The seasonally adjusted continuing jobless claims recorded a drop to 2039.00 K in the US, in the week ended 15 October 2016, lower than market expectations of a fall to 2052.00 K. Continuing jobless claims had recorded a revised level of 2054.00 K in the prior week.

US Kansas City Fed manufacturing activity index remained flat in October

In the US, the Kansas City Fed manufacturing activity index remained flat at 6.00 in October, higher than market expectations of a fall to 3.00.

US non-defence capital goods shipments (ex aircraft) rose as expected in September

In September, the flash non-defence capital goods shipments (ex aircraft) registered a rise of 0.30% in the US on a MoM basis, in line with market expectations. The non-defence capital goods shipments (ex aircraft) had fallen 0.10% in the prior month.

US pending home sales advanced more than expected in September

In September, pending home sales rose 1.50% on a MoM basis in the US, higher than market expectations for an advance of 1.00%. In the prior month, pending home sales had registered a revised drop of 2.50%.

Japanese Tokyo CPI excluding food and energy unexpectedly climbed in October

On a YoY basis, Tokyo CPI excluding food and energy in Japan unexpectedly climbed 0.10% in October, higher than market expectations for a drop of 0.10%. In the previous month, Tokyo CPI excluding food and energy had recorded a drop of 0.10%.

Japanese job to applicant ratio advanced in September

Job to applicant ratio recorded a rise to 1.38 in September, in Japan, compared to a reading of 1.37 in the previous month. Markets were expecting job to applicant ratio to advance to 1.38.

Japanese unemployment rate eased unexpectedly in September

Unemployment rate eased unexpectedly to a level of 3.00% in Japan, in September, compared to market expectations of a steady reading. Unemployment rate had recorded a reading of 3.10% in the previous month.

Japanese Tokyo CPI excluding fresh food dropped less than expected in October

In October, on an annual basis, Tokyo CPI excluding fresh food in Japan registered a drop of 0.40%, less than market expectations for a drop of 0.50%. Tokyo CPI excluding fresh food had dropped 0.50% in the previous month.

Japanese National CPI ex-fresh food declined as expected in September

National CPI ex-fresh food in Japan fell 0.50% in September on a YoY basis, in line with market expectations. National CPI ex-fresh food had registered a similar fall in the previous month.

Japanese National CPI ex-food, energy remained flat in September

On a YoY basis in Japan, National CPI ex-food, energy remained unchanged in September, compared to a rise of 0.20% in the prior month. Market expectation was for National CPI ex-food, energy to climb 0.10%.

Japanese national CPI declined as expected in September

In September, the national consumer price index (CPI) recorded a drop of 0.50% on a YoY basis in Japan, in line with market expectations. In the previous month, the national CPI had registered a similar fall.

Japanese Tokyo CPI remained steady in October

In October, Tokyo CPI in Japan remained flat on an annual basis, higher than market expectations for a fall of 0.40%. Tokyo CPI had registered a drop of 0.50% in the previous month.

Japanese household spending declined less than expected in September

On a YoY basis, household spending dropped 2.10% in September, in Japan, less than market expectations for a drop of 2.70%. In the prior month, household spending had registered a drop of 4.60%.

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Fri, 28 Oct 2016 08:14:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26391/market-briefing-us-markets-ended-lower-yesterday-as-investors-assessed-mixed-earnings-reports-and-as-real-estate-sector-declined-26391.html
In the papers: Powa, Stock Spirits, Amiri http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26403/in-the-papers-powa-stock-spirits-amiri-26403.html The Times
Powa valued at $18 billion shortly before collapse: A British technology company that collapsed into administration this year had been valued at a potential $18 billion in a Goldman Sachs document drawn up five months earlier.

Stock Spirits receives shot across the bows: The biggest investor in Stock Spirits has accused the listed distiller of paying its board directors too much and of failing to respond publicly to questions about its corporate governance.

Bank ‘ready to admit it was wrong’: The Bank of England will concede this week that it was wrong to predict an immediate slowdown after the Brexit vote when it raises its growth forecasts for this year and next, but it will warn that the squeeze on households is set to intensify.

Germans revel in confidence boost: German companies have the most confidence in the state of their economy, while British businesses are said to be divided about the impact of Brexit on the nation’s prospects.

Companies ‘must come clean on their pensions’: Two thirds of companies in the FTSE 350 are not disclosing enough information about their defined-benefit pension schemes, including the amount of future cash contributions, according to new research.

Brexit is cue for UPS to pass the parcels to robots: Fears of a shortage of workers after a “hard” Brexit have been blamed by UPS for a game-changing decision to use more automation in its British depots.

Amiri checks into growing market for student flats: An asset manager is preparing to float a company to invest in upmarket student accommodation in the regions.

No excuse if companies fail to give staff a pension, says minister: The pensions minister has told small businesses that there is “no excuse” for failing to give all their workers the option of a pension, after the regulator fined thousands of employers for not adhering to new rules.

The Independent
Theresa May's Government ‘making up Brexit strategy as it goes along': Theresa May and her Cabinet Ministers are pursuing a “make it up as they go along” strategy for Britain’s exit from the European Union, according to John McDonnell.

Senior Tory urges Chancellor Philip Hammond to inject money into NHS amid social care crisis: Philip Hammond is under pressure to use his first Autumn Statement as Chancellor to provide a cash injection for the NHS, amid claims social care in Britain approaching “tipping point”.

The Daily Telegraph

Mark Carney expected to stay on as Governor of the Bank of England: Markets are becoming increasingly hopeful that Mark Carney is on the verge of confirming that he will extend his term at the Bank of England beyond 2018.

Economic stress as world runs out of dollars: Surging rates on dollar Libor contracts are rapidly tightening conditions across large parts of the global economy, incubating stress in the credit markets and ultimately threatening overvalued bourses.

Big investors put firms on notice over boardroom pay: Directors at large companies have been put on notice that investors will push for simpler and clearer pay structures from next year, in an attempt to ward off more stringent government rules on remuneration.

Big pharma will pull out of Britain unless we start paying for new drugs, warns AstraZeneca: Pharmaceutical companies will leave the U.K. unless the Government and the NHS start to pay for breakthrough drugs, particularly cancer treatments, a senior Executive at AstraZeneca has warned.

The Guardian

U.K. seeking tariff-free EU deal for carmakers, Nissan told: Nissan was told the U.K. was seeking an EU deal that would mean no tariffs for car manufacturers and no bureaucratic impediments to trading, Greg Clark, the business secretary, has revealed.

EU and Canada sign CETA free trade deal: The EU and Canada signed a free trade deal on Sunday that was almost derailed last week by objections from French-speaking Belgians, exposing the difficulties of securing agreement from 28 member states as Britain prepares for Brexit talks.

Britain's Fund Managers warn top companies over Chief Executive pay: Britain’s Fund Managers have written to the top 350 public companies telling them to publish how much their Chief Executives make compared with the average employee and to justify the amounts paid out each year.

Daily Mail

Fashion giant Next expected to report fall in sales this week as families choose restaurants over retail: Fashion giant Next is expected to report a fall in sales this week as families choose restaurants over retail. The High Street is suffering from unseasonably warm weather, increasing internet competition and changing shopping habits.

Bank of England looks set to abandon plans to cut interest rates again this week - offering a small crumb of comfort to savers: The Bank of England looks set to abandon plans to cut interest rates again this week – offering a small crumb of comfort to savers.

Daily Express

AllSaints bags a winner as new range lifts sales: Fashion retailer AllSaints has bolstered sales and profits as it reaped the rewards of overseas expansion and the success of a new handbag collection.

The Scottish Herald

Major firms sign up to Brexit vote legal service: Royal London, the U.K.’s largest life mutual, is among major businesses which have signed up to a crowd-funded Brexit advisory service.

Firms cautious on jobs growth as Brexit looms: Scottish companies are taking a more cautious approach amid political and economic uncertainty triggered by the Brexit vote, with significantly fewer planning to increase employment over the next 12 months, a survey has revealed.

FanDuel is staying tight-lipped on speculation of merger with U.S. firm: Fanduel, the Edinburgh-based fantasy sports provider, has refused to comment on renewed speculation linking it to a merger with U.S. rival DraftKings, writes Scott Wright.

Profits up at long-running Volvo dealer Strathmore: Ian H Cameron, the Perth-based company behind the U.K.’s longest-running Volvo dealership, has hiked profits beyond £400,000, driven by a 10 per cent increase in turnover.

Scottish Water exports knowledge to Canada: Scottish Water’s international arm has completed its second major assignment in the Canadian city of Calgary.

Morrisons expected to post further sales growth: Morrisons is expected to notch up a fourth consecutive quarter of like-for-like sales growth when the supermarket releases its latest results next Thursday.

Strategic disposal at Low & Bonar brings opportunity to Dundee facility: The Chief Executive of textile technology group Low & Bonar, which last month sold its grass yarns business, has said the company remains committed to its Dundee facility as he confirmed further investment in China ahead of a predicted re-rating.

City A.M.

European banks struggle for profits in face of multiple headwinds: European banks will continue to struggle for profitability in the face of multiple headwinds, including higher capital requirements, low interest rates and a weak economy, according to new research published.

No Brexit blues for upbeat housebuilders, despite concerns around skills shortages and costs of materials: Housebuilders are refusing to be knocked back by any Brexit blues, as the industry remains optimistic on what the future holds, research out has found.

House of Fraser bond prices are under pressure as distressed funds circle: The value of publicly traded debt issued by department store House of Fraser has fallen dramatically over the last week prompting fears of financial problems.

FTSE 100 mining giant Anglo American plots South Africa spin-off: Anglo American is plotting a multi-billion-pound spin-off of its operations in South Africa.

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Mon, 31 Oct 2016 07:58:00 +0000 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26403/in-the-papers-powa-stock-spirits-amiri-26403.html
In the papers: GlaxoSmithKline, Selfridges, Airbus http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26383/in-the-papers-glaxosmithkline-selfridges-airbus-26383.html The Times

Bonus from Brexit is worth £1 billion, says Glaxo: GlaxoSmithKline has collected a £1 billion windfall from the collapse in sterling, making it one of the biggest winners since the EU referendum.

Dong heralds wind of change by ditching oil for renewables: The world’s largest offshore developer of wind energy is considering whether to ditch its oil and gas business. Dong Energy confirmed that it no longer considered oil and gas to be “a long-term strategic commitment” and said that it was “reviewing strategic options” for the future of the division.

Fraud inquiry deals blow to Airbus profits: The ban on British government subsidies to Airbus via its U.K. Export Finance arm pending the outcome of a fraud inquiry is piling the pressure on the European aerospace giant, where profits are tumbling and cash is leaving the business at jet-fuelled rates.

Lockheed peers into space to provide a tidal solution: Space technology developed by the world’s biggest defence contractor is being used to help produce renewable energy from tidal turbines.

Profits slip as Selfridges waits for its £300 million upgrade to deliver the goods: A big capital expenditure programme at its London store held back profits at Selfridges last year even as sales surged. The luxury retailer said that sales had risen by 5 % to £1.4 billion in the year to January 30.

Retail jobs decline ‘likely to worsen’: The decline of full-time jobs in the retail sector is speeding up and is only set to worsen, according to the industry’s trade association.

Record low rate creates borrowing boom time: Britons are taking advantage of record low interest rates to borrow at the fastest rate since December 2006, according to the British Bankers’ Association.

Business needs a shot in the arm after Brexit, CBI warns: Britain’s biggest business lobby has urged the government to prioritise investment and infrastructure in next month’s autumn statement to give a “shot in the arm” for businesses.

The Independent

CBI urges Philip Hammond to borrow to increase infrastructure spending: The CBI is urging the Chancellor to ratchet up government infrastructure spending by £6 billion in next month’s Autumn Statement to help the U.K. through the economic turbulence created by June’s Brexit vote.

U.K. salaries less than they were 12 years ago, official figures reveal: Wages for average U.K. workers are less than they were 12 years ago, even after taking inflation into account, shocking official figures revealed. The gender pay gap also remains stubbornly high, data from the Office of National Statistics showed.

Food prices will go up when Brexit happens, Tesco Boss says: The Boss of Tesco has warned customers to brace themselves for prices rises as Britain negotiates its way out of the EU.

Thousands of jobs at risk as Vauxhall takes $400 million Brexit hit: Thousands of jobs are at risk after Vauxhall's U.S. owner warned it could cut production in Europe, after taking a $400 million from the Brexit vote.

The Daily Telegraph

Lenders hurt by low interest rates and tough capital rules, admits Bank of England: The Bank of England has admitted it is concerned that tough capital requirements and rock bottom interest rates are making it increasingly difficult for lenders to make money.

Spend £2 billion more on childcare to free up women to work, CBI tells the Chancellor: The Chancellor should spend another £2 billion per year on childcare to get more women into work, boosting the economy as well as opening up options for new parents, the Confederation of British Industry has urged.

Tesla shares surge after unveiling shock Q3 profit: Tesla’s share price rocketed over 6% in after-hours trading following the electric car-makers’ shock first quarterly profit in three years due to a surge in vehicle deliveries.

Bribery a way of life for companies operating in emerging markets: Bribery is a way of life for British companies working in emerging markets, with 85% of managers forced to resort to it to do business, according to a new report.

Engineering float is the first to graduate from LSE's small business launchpad: A Nottinghamshire engineering firm has raised £40 million and become the first company to graduate from the London Stock Exchange’s programme to prime small businesses for the public markets.

The Questor Column:

Profit warnings can offer an opportunity for a bargain – just look at Motorpoint: Profit warnings are an unpleasant experience for existing shareholders. But for bargain-hunting investors they can offer tempting opportunities if the subsequent fall in the share price seems excessive.  we’ll investigate the profit warning issued last week by a recently listed car dealership chain called Motorpoint. There are a couple of reasons to think that this particular profit warning may offer an opportunity to buy shares in a quality business on the cheap. First, and perhaps most significantly, the firm’s senior Executives themselves saw the share price fall as a chance to increase their already substantial holdings. Mark Carpenter, the Chief Executive, bought shares worth £717,600, while the chairman, Mark Morris, bought £358,800 of shares and a non-Executive Director, David Shelton, spent £717,600. Second, the deterioration in trading seemed to result from an unusual series of causes that will hopefully not be repeated. The firm feared being left with too much stock after the EU referendum, when many expected nervous consumers to hold back on spending, so it cut its profit margins and bought less stock, which hit sales. As Motorpoint is a newly listed firm, the reaction of investors to the profit warning was understandable. But there is good reason to think it was overdone. A somewhat risky buy. Questor says “Speculative Buy”.

The Guardian

Maternity leave should be extended at cost of £2.1 billion, says CBI: Philip Hammond should spend £2.1 billion in the autumn statement on extending maternity leave to encourage more women to return to work, the CBI has said.

Weekly U.K. earnings rose 2% last year in biggest increase since crash: Low paid workers have been handed their biggest pay rise since the 1990s, after the introduction of the “national living wage” forced companies to pay workers aged 25 and over a minimum £7.20 an hour.

Tickets trader Viagogo criticised for 'callous resale profiteering': The ticketing website Viagogo has been branded “disgusting” for seeking to profit from a charity event hosted by the actor and comedian Peter Kay to raise funds for Cancer Research U.K.

AA reports rise in car insurance premiums: Drivers are paying almost £82 more for car insurance than a year ago and are likely to see premiums rise further, according to the latest figures from the Automobile Association (AA).

Pensions Regulator's powers might be expanded after BHS scandal: The government is considering extending the powers of the Pensions Regulator in the light of the BHS scandal, it has emerged.

FCA says it is watching algorithmic traders linked to pound's flash crash: The City regulator has said it is keeping a close watch on algorithmic traders of the type that may have been connected with the flash crash in the pound earlier this month.

Philip Hammond could face £84 billion black hole following Brexit vote: The worsening economic outlook could leave Philip Hammond facing a black hole of more than £80 billion when he lays out the government’s spending plans next month.

Peabody given approval to build 1,500 homes in south-east London: The Peabody housing association has been given approval to build more than 1,500 homes in south-east London, revamping a 1970s concrete estate that served as the backdrop to A Clockwork Orange.

Daily Mail

Spain's Santander bemoans Brexit as U.K. earnings slow, but Metro Bank powers ahead and posts its first profit: Santander U.K. has notched up a fall in profits as it again warned that earnings could take a hit as a result of Brexit.

Pharmaceuticals giant GlaxoSmithKline's Boss unveils 'expectation-busting' set of results as he prepares to bow out of top post: Sir Andrew Witty, who will be replaced by Emma Walmsley, the consumer healthcare Chief, when he steps down in March, has been under pressure to improve the group’s fortunes following years of declining sales and profits.

Lloyds bill for PPI scandal hits £17 billion as costs for scandal continue to spiral: Lloyds has been forced to set aside another £1 billion to settle PPI mis-selling complaints as costs for the scandal continue to spiral.

Blundering Vodafone fined £4.6 million by telecoms watchdog for 'serious' customer failings: Vodafone has been hit with a £4.6 million fine by the U.K.'s telecoms watchdog for a string of failings, including mis-selling, inaccurate bills and poor complaints handling.

BA owner International Consolidated Airlines Group takes off as main beneficiary of expansion at Heathrow Airport: British Airways Owner International Consolidated Airlines Group took off as it was singled out as the main beneficiary of expansion at Heathrow Airport.

Daily Express

Lloyds' Boss calls for Britain to spend big for economic growth: The Boss of Lloyds Banking Group has joined calls for the Government to ignite business confidence by spending big on major building projects.

Homes warned bills will jump by 15%: British households can expect energy bills to jump by around 15 % amid higher wholesale prices, an economist has warned.

Pension savers pull £7.6 billion from pots after freedom reforms: Over 55s have taken billions of pounds out of pension savings since retirement freedoms were introduced last year, official figures have showed.

Brexit tourist spending surge to boost high street sales: Britain's economy is benefiting from a tourist spending boom, following the vote to leave the European Union (EU), figures have revealed.

Nim’s healthy crisps bear fruit manufacturing in the U.K.: Fruit and vegetable crisps company Nim’s plans to take a mighty bite out of the snacks market now it has its own U.K. factory.

'High Noon' for Deutsche Bank and Europe's lenders, warns investment expert: Europe's banking system is facing its day of reckoning, amid menacing threats from both Deutsche Bank and Italy's crippled lenders, an investment and risk advisor has warned.

The Scottish Herald

Profits plunge at Scottish Power Renewables amid lighter winds: Scottish Power has suffered a near 30 % fall in profits at its key renewables arm after changes in weather conditions posed challenges.

Atlantis Resources lays foundations for MeyGen project: Atlantis Resources, the tidal power group, has reaffirmed its ambition of producing power from its flagship MeyGen site in the Pentland Firth this year after it completed the installation of the system’s foundations.

Profits at Alexander Inglis hit as grain prices fall: Alexander Inglis, the grain business owned by former Scotland rugby captain Jim Aitken, has seen pre-tax profits tumble by 38% to £1.5 million as revenue fell 13.6 % to £68.5 million in 2015, writes Kevin Scott.

Cut price Clydesdale bid for Royal Bank arm seen as possible: Clydesdale Bank Owner CYBG’s bid for Williams & Glyn could be a good move for the Glasgow-based lender which may be able to buy the operation at a ‘fire sale’ price a leading analyst has said.

Tenants should start preparing for amnesty on improvements: The Scottish Tenant Farmers Association (STFA) is calling on all tenant farmers to start preparing for the amnesty on tenant improvements which is likely to commence in the spring of 2017.

Leather producer’s profits double despite revenue fall: Bridge of Weir-based Scottish Leather Group raised its dividend payments by 10% in the last financial year after a flight to quality saw its profits more than double to £7.8 million.

Arthur McKay acquired by English rival: Arthur McKay has agreed to be acquired by rival building services and facilities management group Servest.

Drop in number of corporate insolvencies: There were 218 corporate insolvencies in Scotland in the second quarter of the current financial year, down from 258 in the last quarter.

Craneware Boss sees pay increase: Keith Neilson, Chief Executive of Edinburgh-based Craneware, saw his total pay increase by nearly 16%, the company’s latest annual report shows.

The Scotsman

Scots retail sales overtake U.K. following Brexit vote: Scotland experienced slightly better sales growth than the U.K. as a whole in the three months immediately after the Brexit vote.

Edinburgh to host global blockchain tech conference: More than 200 attendees from around the world have already signed up to take part in a conference being held in Edinburgh next month to discuss the development of blockchain technology.

Scotch Whisky Association Chief steps down: Scotch Whisky Association (SWA) Chief Executive David Frost is leaving the organisation to take up a new role as foreign affairs special adviser to the U.K. Foreign Secretary, Boris Johnson.

ScottishPower to spend £341 million on smart energy meters: ScottishPower is to invest £341 million on rolling out smart energy meters to more than five million home across the U.K.

Saad Hammad departs as Chief Executive of Flybe: Flybe has parted company with Chief Executive Saad Hammad by “mutual agreement”.

City A.M.

Lost U.K. influence over EU financial services regulation could come back to bite the City: Theresa May’s suggestion at the European Council meeting in Brussels last week that the U.K. would continue to play a role in EU institutions and their respective decision-making processes post-Brexit was met with thinly disguised incredulity by European leaders.

Ousted Tata Group Chairman claims Tata Steel among businesses that could prompt $18 billion worth of write-downs: The ousted Chairman of Tata Group has claimed Tata Steel Europe is among five unprofitable businesses that could prompt $18 billion (£14.7 billion) worth of write-downs at the parent company.

Brexit worries over – Axa ploughs ahead with building the City's tallest tower: The construction of the City's tallest building is back on after developers halted progress before the EU referendum.

New PRA Boss says it's full steam ahead for City red tape despite Brexit: The new Chief Executive of the Prudential Regulation Authority (PRA) will say this evening that it will push ahead with enforcing the next tranche of City red tape despite the recent Brexit vote.

Carpetright Bosses up their stakes in the company after sales drop: Carpetright's Chief Executive Wilf Walsh and Chief of Finance Neil Page have bought shares in the company following a drop in sales at the retailer.

Southwest shares plummet after tech issues force profits down by a third: Southwest Airlines missed quarterly revenue estimates which were partly affected by a technology problem in July which forced flights to be cancelled.

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Thu, 27 Oct 2016 09:01:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26383/in-the-papers-glaxosmithkline-selfridges-airbus-26383.html
In the Papers - Anglo American,Panasonic, Sony and others http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26419/in-the-papers-anglo-americanpanasonic-sony-and-others-26419.html
The Times
Tesco sued by investors for £100 million: More than 125 institutional investors have filed a claim against Tesco over allegations that they suffered millions of pounds of losses from the grocer’s accounting scandal.
BMW workers consider strike over pension scheme switch: BMW is facing a battle with its British workforce as unions gear up for industrial action over plans to abandon its final-salary pension scheme.
What Brexit fears? Small businesses show hunger for more credit: Lending to small businesses rose at its fastest annual pace since 2012 last month, suggesting that the Brexit vote has done little to dampen companies’ appetite to take on debt.
British banks in U.S. inquiry into interest rate swaps: Barclays, Royal Bank of Scotland and HSBC have been linked with an investigation in the United States into alleged impropriety in the market for trading interest rate swaps.
Oil fuels acceleration in Eurozone inflation: Inflation in the Eurozone inched up to a two-year high last month as the price of oil rebounded, but economists still believe that the European Central Bank will extend its huge levels of monetary stimulus beyond March.
Broadband provider hits a new level with $25 billion deal: A stellar month for big merger deals ended with a $25 billion bid by CenturyLink, the fifth-largest broadband provider in the United States, for Level 3, an internet infrastructure company.
GE bets on oil’s recovery with Baker Hughes deal: General Electric and Baker Hughes have agreed to combine their energy businesses to create an oilfield services giant to rival Schlumberger and Halliburton.
Come clean on pay gap, boards are told: Leading fund managers are demanding that listed companies publish the details of how much senior Executives are paid compared with their average workers.
No frills is bang on trend as TK Maxx raises profits: Retailing with what might be described as the minimum of fuss appears to be paying off handsomely for TK Maxx, which has reported a double-digit percentage rise in profits and turnover.


The Independent
Barclays customers charged twice in latest debit card payment glitch: Barclays customers face being charged twice as the high street lender tries to fix a debit card payment glitch.
Pound is the worst performing currency in the world this month: The pound is the world’s worst-performing currency this month, trailing behind about 150 peers, as the first signs of how Brexit will look emerged in October.
France is appointing a task force to lure businesses from London: France will set up a special task force of corporate leaders and politicians aimed at luring businesses and talents from London as the U.K. prepares to leave the EU.
Mortgage approvals perk up in September: Mortgage lending unexpectedly picked up in September, according to the latest credit statistics from the Bank of England.


Financial Times
Uber worker ruling raises questions for food start-ups: Last week’s ruling in London that Uber drivers are workers entitled to basic rights threatens to upend Europe’s crowded food delivery sector, boosting rivals such as Just Eat while raising concerns about similar last-mile services from Deliveroo and others.
Essentra appoints Coats head Paul Forman as new Chief: Essentra, the U.K.-based maker of cigarette filters and plastic packaging, has named a new Chief Executive months after its stock market value dropped more 
U.S. crude output up in August for first time since March: U.S. crude production rose in August for the first time since March, official data showed on Monday, dealing another blow to hopes that oversupply in the global oil market could be eased rapidly by a sharp decline in output from the shale reserves of North America.

October dealmaking volumes hit $500 billion after GE acquisition: General Electric led a trio of companies penning big takeovers on Monday to lift the total value of transactions attempted in October to above $500 billion, in what has unexpectedly become one of the busiest months for global dealmaking on record.

Sony and Panasonic warn on profits: Sony and Panasonic, the Japanese electronics makers, have warned that profits would be hit by lower export income owing to the stronger yen and the retreat from lossmaking businesses.

Hexagon Chief detained and charged with insider trading: The Chief Executive of one of Sweden’s largest technology companies has been arrested by Norwegian authorities and charged with insider trading.

Education start-up Coursera shifts to monthly subscriptions: Education start-up Coursera is adopting a monthly subscription model to encourage binge-learning on its online platform at a time when its annual revenue is on track to double for the second time in two years.

Atlantia criticises ‘immature’ state of U.S. toll road market: The Chief Executive of Atlantia, one of the world’s largest toll road operators, has branded the U.S. industry immature, fragmented and vulnerable to political interference, in a sign of the barriers to investment in the sector.

NYK, MOL and K Line to combine container shipping units: Japan’s big three shipping conglomerates on Monday outlined plans to set aside one of the country’s most ferocious industrial rivalries amid brutal market conditions to establish a joint venture for their container shipping businesses.

Lex:
CenturyLink/Level 3: Pipe-fitting: After the razzmatazz of AT&T storming Manhattan and Hollywood to buy Time Warner, a more humdrum variety of dealmaking returned on Monday. CenturyLink announced a takeover of Level 3 Communications, paying $34 billion including debt.

Hexagon: one-sided: Take “key man” risk, double it and you get Hexagon. On Monday, shares in the Swedish group dropped a tenth after news that Ola Rollen, Chief Executive, is being investigated over allegations of insider trading. Earlier in October Melker Schorling, a Director whose holding company owns 26% of Hexagon, said he was stepping down.

Japanese shipping: just another list: On Monday, three Japanese shippers — Nippon Yusen (NYK), Mitsui OSK and Kawasaki Kisen — announced a joint venture. This does not mark an end to tough times. NYK will take the biggest share (38%) of this joint venture, the rest shared equally between the other two.
To Read More Click Here

Gold-diggers scent opportunity in Centamin’s higher grade ore: In the immediate aftermath of the EU referendum, Centamin appears to be that miner. Thanks to an 18% annual increase in its third quarter realised gold price to $1,335 per oz — driven partly by Bremoaners — Brexiter equity bulls have gained even more from the 30% fall in Centamin’s “all-in sustaining costs”, to $644 per oz.
To Read More Click Here
Sweet odour of waste: The market was not greatly enamoured of Infinis Energy, the wind and gas-waste processor that big-haired tax-exile Guy Hands floated in late 2013 at close to £780 million. The shares flopped 28% as government policy on renewable subsidies flipped and power prices fell.

The Daily Telegraph
Foreign appetite for gilts revives as bond worries shift back to Eurozone: Foreign investors returned in force to the U.K. bond market in September, snapping up a net £13.3 billion in gilts as fears of a full-blown Brexit crisis faded.
Centamin hits milestone as it pays back $1 billion cost of Sukari gold mine: Gold miner Centamin has hit a milestone by building up its cash flow to the point where it has begun sharing its profits with the Egyptian government.
3i Infrastructure snaps up landfill gas energy supplier for £185 million: FTSE 250 company 3i Infrastructure will pay £185 million to acquire Northampton-based Infinis, one of Britain's leading renewable energy companies, and its subsidiaries.
Anglo American sees ‘bright future’ as metals industry hopes for strength in China: The mining and metals industry has a “bright future”, the Boss of Anglo American has said, as the sector weighs up the future of China, the biggest consumer of raw materials.
Stock Spirits faces fresh attack as activist investor piles on pressure: Stock Spirits is facing a second fresh attack from its largest shareholder in less than a fortnight over claims the vodka-maker is overpaying its board while dodging questions about its corporate governance.


The Guardian
Mark Carney to serve extra year as Bank of England governor: Mark Carney has ended weeks of speculation about his future by agreeing to stay on as governor of the Bank of England until Brexit negotiations with the EU have ended in 2019.
Rolls-Royce middlemen may have used bribes to land major contracts: Rolls-Royce plc, Britain’s leading manufacturing multinational, hired a network of agents to help it land lucrative contracts in at least 12 different countries around the world, sometimes allegedly using bribes.
Daily Mail
Sir Martin Sorrell sees WPP pocket £462 million from post-Brexit fall in value of pound - despite peddling warnings ahead of vote: Media tycoon Sir Martin Sorrell saw his advertising firm WPP pocket £462 million from a post-Brexit fall in the value of the pound – despite peddling doom-laden warnings ahead of the vote.
Former RAF Harrier pilot set to make £4 million when tech business he founded nine years ago floats on stock market this month: A former RAF Harrier pilot is set to make £4 million when a tech business he founded nine years ago floats on the stock market this month.
Premium leather handbags help fashion chain All Saints net its fourth consecutive year of growth: Premium leather handbags helped fashion chain All Saints net its fourth consecutive year of growth.


Daily Express
The Investment Association step up pressure on FTSE Bosses' to justify bonuses: Fund Managers are stepping up the pressure on Britain’s top companies to justify boardroom pay by telling them to publish how much their Chief Executives make compared with the average employee.
Eurozone economy grows just 0.3% in Q3 showing EU hit worse than U.K. by Brexit: Europe's economy squeezed out of growth of just 0.3% in the third quarter of the year, despite mammoth efforts by the European Central Bank (ECB) to kick-start expansion.
Russia's financial crisis: Moscow launches desperate austerity programme: Russia has revealed a dramatic austerity programme in a desperate bid to shore up the economy and quell public anger, amid the country's worst financial disaster in years.
Heathrow begins pumping millions into U.K. supply chain after expansion backing: A multimillion-pound boost to U.K. businesses was triggered by the Government's backing for Heathrow expansion, according to the airport.


The Scottish Herald
Shake up in North Sea oil services market continues: Subsea services business M² has acquired 32 remotely operated vehicles in a deal which is expected to see it creating jobs in Aberdeen.
Property deals soar in capital: Commercial property investment in Scotland reached £1.4 billion in the first three quarters of the year, with deals completed in Edinburgh hitting £478.75 million in the period – the highest in the city since 2007, according to Savills’ research.
Forestry fund launched: Five forests in the west of Scotland are being acquired for £12 million by asset manager Gresham House after its new Forestry Fund first closed with an initial £15 million of commitments and finance.
Mac Mic upbeat as builder lifts profits: Mactaggart & Mickel has declared sentiment in the housebuilding sector continues to be robust in spite of the uncertain economic outlook brought the Brexit vote, as profits at the Glasgow-based housebuilder increased for a fourth consecutive year.
Oil services firm slumps into red after halving workforce: Oil well technology firm Plexus Holdings has signalled more job cuts could be in prospect after it reduced staff numbers by around 50% and plunged into the red in the latest year amid the downturn in the key North Sea market.
Innis & Gunn to raise £1 million in equity sale plan: Innis & Gunn is offering up two% of its share capital to beer lovers in a crowdfunding initiative that the Scottish craft brewer hopes will raise £1 million.
The Scotsman
Edinburgh accounting software firm aims for flotation: FreeAgent, the Edinburgh-based provider of accounting software, has unveiled plans to float on the London Stock Exchange.
Scottish business optimistic despite vote to leave EU: Scottish business optimism about growth prospects over the next 12 months remains “resilient” despite continuing Brexit uncertainty, but hiring and exports expectations are subdued, a new survey out says.
WPP sees signs of ‘Brexit anxiety’ as growth slows: Advertising giant WPP has said the first signs of “Brexit anxiety” are beginning to show as the firm reported slower sales growth in Britain

.
City A.M.
Chancellor should use Autumn Statement to boost business confidence, as British Chambers of Commerce finds trade hopes are beginning to flounder: The British Chambers of Commerce (BCC) is calling on Philip Hammond to use his first Autumn Statement to boost business confidence, after its figures found overseas trade hopes were beginning to slip away.
U.K.'s financial services sector goes from strength to strength as City trade surplus jumps to a record high: The U.K.'s financial services sector has boomed to its highest level of trade surplus yet, highlighting the importance of maintaining and developing the City's trade ties post-Brexit.
Treasury launches new scheme to help small businesses secure financing: A new government scheme to help small businesses turned down for loans find alternative means of finance launches.
HSBC U.K. expected to name former London Stock Exchange Boss as chair: Dame Clara Furse is close to being named Chair of HSBC U.K., the new ring-fenced retail bank, it has emerged.
Green Investment Bank takes another step towards £2 billion privatisation, with Macquarie in poll position: The Green Investment Bank (GIB) has taken another step towards its £2 billion privatisation. Australian investment bank Macquarie is believed to be the government’s preferred bidder for GIB, beating competition from a consortium headed up by Sustainable Development Capital (SDC).

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Tue, 01 Nov 2016 09:58:00 +0000 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26419/in-the-papers-anglo-americanpanasonic-sony-and-others-26419.html
Market briefing: UK markets finished mixed yesterday, with the FTSE 100 index rebounding from its prior session loss http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26368/market-briefing-uk-markets-finished-mixed-yesterday-with-the-ftse-100-index-rebounding-from-its-prior-session-loss-26368.html UK Market Snapshot
UK markets finished mixed yesterday, with the FTSE 100 index rebounding from its prior session loss, bolstered by a jump in mining sector stocks and weakness in the Pound. Anglo American rose 4.6%, after it reported higher output in the third quarter across all divisions, excluding copper. Peers, Glencore and Rio Tinto climbed 3.6% and 4.5%, respectively. National Express Group advanced 3.2%, after it reported upbeat profit for the third quarter. On the contrary, Whitbread declined 3.8%, despite reporting upbeat underlying pre-tax profit for the half year. However, its Costa Coffee shops posted dismal sales for the same period. GKN dropped 2.9%, as it warned about slower growth at its major automotive and aerospace markets amid weak global economy. The FTSE 100 rose 0.4%, to close at 7,017.6, while the FTSE 250 slipped 0.3%, to settle at 17,801.9.

US Market Snapshot
US markets ended lower yesterday, as investor sentiment was dampened after the US consumer confidence dropped to a three-month low level for October. Nielsen Holdings sank 16.9%, following downbeat results for the third quarter amid higher restructuring charges. Under Armour slumped 13.2%, after the athletic gear maker warned about slower sales growth for 2017 and 2018. Whirlpool plummeted 10.8%, as it posted disappointing result for the third quarter and slashed its projected growth for the full year. On the contrary, Lockheed Martin jumped 7.4%, as its revenue for the third quarter surpassed market estimates and it boosted its dividend. Baker Hughes climbed 4.3%, after it reported lower than expected adjusted loss per share for the third quarter. The S&P 500 edged down 0.4%, to settle at 2,143.2. The DJIA shed 0.3%, to settle at 18,169.3, while the NASDAQ slid 0.5%, to close at 5,283.4.

Europe Market Snapshot
Other European markets closed lower yesterday, amid a slump in health care firms and Italian lenders. Unione di Banche Italiane and Banca Popolare dell'Emilia Romagna declined 3.7% and 4.2%, respectively. ams sank 12.8%, after it reported disappointing sales for the third quarter and stated that its fourth quarter performance will be muted. Novartis slid 2.8%, following a decline in its earnings for the third quarter. On the brighter side, UPM-Kymmene surged 10.8%, after it reported higher than expected operating profit for the third quarter. Luxottica Group climbed 4.4%, as it confirmed its guidance for the year 2016 and hinted that its sales growth will accelerate in 2017. The FTSEurofirst 300 index dipped 0.3%, to close at 1,354.6. Among other European markets, the German DAX Xetra 30 marginally eased, to close at 10,757.3, while the French CAC-40 slid 0.3%, to settle at 4,540.8.

Asia Market Snapshot
Markets in Asia are trading weaker this morning, following an overnight sell-off in the US equities. In Japan, oil stocks, Japan Petroleum Exploration and Inpex have eased 0.8% and 1.5%, respectively, on lower crude oil prices. Exporters, Toshiba, Canon and Panasonic have slid 0.4%, 0.5% and 1.0%, respectively, amid strength in the Japanese Yen. On the flip side, Taiheiyo Cement has jumped 8.9%. In Hong Kong, lenders, Bank of East Asia and Industrial and Commercial Bank of China have shed 0.9% and 1.0%, respectively. In South Korea, index majors, POSCO and Samsung Electronics have dropped 0.8% and 1.8%, respectively. The Nikkei 225 index is trading 0.2% lower at 17,331.5. The Hang Seng index is trading 0.9% down at 23,358.3, while the Kospi index is trading 1.3% lower at 2,009.8.

Commodity, Currency and Fixed Income Snapshots
Crude Oil

At 0330GMT today, Brent Crude Oil one month futures contract is trading 1.16% or $0.59 lower at $50.20 per barrel, ahead of the Energy Information Administration’s weekly oil inventory data, scheduled to be released later today. Yesterday, the contract declined 1.30% or $0.67, to settle at $50.79 per barrel, after the American Petroleum Institute reported that US crude stockpiles climbed by 4.8 million barrels for the week ended 21 October 2016.

Gold
At 0330GMT today, Gold futures contract is trading 0.20% or $2.50 higher at $1276.10 per ounce. Yesterday, the contract advanced 0.78% or $9.90, to settle at $1273.60 per ounce, reversing its losses from the last session, amid weaker global equity markets.

Currency
At 0330GMT today, the EUR is trading marginally higher against the USD at $1.0889, ahead of the German GfK consumer confidence survey for November, due to release in some time. Yesterday, the EUR rose 0.06% versus the USD, to close at $1.0886, after data showed that the German Ifo current assessment and business climate advanced more than anticipated in October.

At 0330GMT today, the GBP is trading 0.19% lower against the USD at $1.2163, ahead of the UK BBA mortgage approvals for September, due to release in a few hours. Moreover, the US Markit services PMI for October and goods trade balance for September, slated to release later in the day, will be closely assessed by market participants. Yesterday, the GBP weakened 0.40% versus the USD, to close at $1.2186.

Fixed Income
In the US, treasury yields were mixed, with investors digesting weaker than expected data on the US consumer confidence in October. However, the US housing price index advanced in August. Yesterday, yield on 10-year notes remained steady at 1.77%, while yield on 2-year notes rose 2 basis points to 0.86%. Meanwhile, 30-year bond yield fell 2 basis points to 2.50%.

Key Economic News

Mark Carney defended BoE actions

During a testimony at House of Lords, the Bank of England (BoE) Governor, Mark Carney, defended the monetary policy pursued by the central bank in recent years and stated that the BoE’s efforts has had a positive impact on Britain’s economy that is “without parallel”.

Mario Draghi stressed commitment to low rates until inflation target is met

The European Central Bank (ECB) President, Mario Draghi, defended the central bank’s actions by stating that the ECB’s aggressive bond buying programme and ultra-low rates haven’t harmed German households. He further reiterated that the ECB would keep its policies in place until it reaches its goal of keeping inflation just below 2.0%.

German Ifo business expectations index surprisingly advanced in October

The Ifo business expectations index in Germany registered an unexpected rise to 106.10 in October, compared to a level of 104.50 in the previous month. Markets were anticipating the Ifo business expectations index to record a flat reading.

German Ifo current assessment index climbed in October

In October, the Ifo current assessment index in Germany advanced to 115.00, compared to a reading of 114.70 in the prior month. Markets were anticipating the Ifo current assessment index to rise to a level of 114.90.

German Ifo business climate index advanced in October

Compared to a reading of 109.50 in the previous month the Ifo business climate index climbed to 110.50 in Germany, in October. Market anticipation was for the Ifo business climate index to rise to 109.60.

French production outlook indicator fell surprisingly in October

In October, the production outlook indicator in France registered an unexpected drop to a level of 2.00, compared to market expectations of a rise to 8.00. The production outlook indicator had registered a revised reading of 6.00 in the previous month.

French business survey overall demand registered a drop in October

Compared to a revised level of 14.00 in the prior month business survey overall demand registered a drop to 4.00 in France, in October.

French industrial business climate index remained unchanged in October

The industrial business climate index remained steady at a level of 101.00 in France, in October, compared to market expectations of a rise to 102.00.

French own-company production outlook remained steady in October

Own-company production outlook remained flat at a level of 9.00 in October, in France, meeting market expectations.

Italian industrial sales recorded a rise in August

In Italy, the non-seasonally adjusted industrial sales registered a rise of 6.80% in August on a YoY basis. In the previous month, industrial sales had fallen by a revised 0.50%.

Italian industrial sales registered a rise in August

In August, on a monthly basis, the seasonally adjusted industrial sales climbed 4.10% in Italy. In the prior month, industrial sales had climbed by a revised 2.30%.

Italian industrial orders advanced in August

On a monthly basis, the seasonally adjusted industrial orders in Italy recorded a rise of 10.20% in August. Industrial orders had recorded a revised drop of 10.40% in the previous month.

Italian industrial orders recorded a rise in August

In Italy, the non-seasonally adjusted industrial orders climbed 15.90% in August on an annual basis. In the prior month, industrial orders had fallen 11.80%.

Spanish PPI recorded a rise in September

The producer price index (PPI) climbed 0.30% on a MoM basis in Spain, in September. The PPI had registered a revised drop of 0.30% in the previous month.

Spanish PPI declined in September

The PPI eased 2.00% on a YoY basis in Spain, in September. In the previous month, the PPI had fallen 3.10%.

US CB consumer confidence index registered a drop in October

In the US, the CB consumer confidence index fell to a level of 98.60 in October, compared to a revised level of 103.50 in the prior month. Markets were anticipating the CB consumer confidence index to fall to a level of 101.50.

US economic optimism index recorded a rise in October

The economic optimism index recorded a rise to 51.30 in the US, in October, compared to market expectations of an advance to 47.50. In the prior month, the economic optimism index had registered a reading of 46.70.

US Redbook index registered a drop in the last week

The seasonally adjusted Redbook index registered a drop of 0.10% in the US on a monthly basis, in the week ended 21 October 2016. In the previous week, the Redbook index had recorded a flat reading.

US S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas advanced more than expected in August

The S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas registered a rise of 5.13% on a YoY basis in August, in the US, more than market expectations for a rise of 5.00%. In the previous month, the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas had recorded a revised rise of 4.98%.

US S&P/Case-Shiller composite index of 20 metropolitan areas advanced more than expected in August

On a monthly basis, the seasonally adjusted S&P/Case-Shiller composite index of 20 metropolitan areas in the US rose 0.24% in August, higher than market expectations for a rise of 0.10%. In the prior month, the S&P/Case-Shiller composite index of 20 metropolitan areas had risen by a revised 0.02%.

US housing price index rose more than expected in August

On a monthly basis, the housing price index in the US rose 0.70% in August, compared to a rise of 0.50% in the prior month. Markets were expecting the housing price index to climb 0.40%.

US Redbook index registered a rise in the last week

In the US, the Redbook index climbed 0.30% on an annual basis, in the week ended 21 October 2016. The Redbook index had climbed 1.00% in the previous week.

US Richmond Fed manufacturing index registered a rise in October

In the US, the Richmond Fed manufacturing index advanced to -4.00 in October, in line with market expectations. The Richmond Fed manufacturing index had registered a reading of -8.00 in the previous month.

US S&P/Case-Shiller home price index recorded a rise in August

The S&P/Case-Shiller home price index in the US recorded a rise to 191.66 in August, compared to a revised reading of 190.85 in the previous month.

Japanese corporate service price index rose more than expected in September

In September, on a YoY basis, the corporate service price index advanced 0.30% in Japan, compared to a rise of 0.20% in the previous month. Markets were expecting the corporate service price index to rise 0.20%

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Wed, 26 Oct 2016 08:19:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26368/market-briefing-uk-markets-finished-mixed-yesterday-with-the-ftse-100-index-rebounding-from-its-prior-session-loss-26368.html
In the papers: Bradford & Bingley, Carpetright, Syngenta http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26369/in-the-papers-bradford-bingley-carpetright-syngenta-26369.html The Times
Weak pound hits German exports: German exports to Britain are set to fall by up to 9% next year because of the weakness of the pound after the Brexit vote.

Treasury to sell £16 billion of Bradford & Bingley loans: The government has begun to clear out almost £16 billion of taxpayer-owned Bradford & Bingley mortgages as it attempts to recoup billions handed to the defunct lender.

Fall in pound forces up prices at Carpetright: Carpetright is increasing prices as its grApples with the plunging pound and has warned that gross profit margins would be hit by “increased sourcing costs”.

AT&T Boss hits back at ‘uninformed’ politicians: American politicians who have spoken out against AT&T’s $85 billion bid for Time Warner are uninformed, the telecom group’s Boss claims.

Dublin woos London’s EU agencies: The Irish government will formally invite two high-profile London-based EU agencies to move to Dublin as Britain prepares for Brexit.

Corporate woes knock South Korean economy: The exploding smartphone which heaped embarrassment on its manufacturer, Samsung, has also played its part in the slowing down of the South Korean economy, according to the country’s central bank.

Christmas will come late for Syngenta shareholders: ChemChina’s $43 billion takeover of Syngenta is unlikely to go through until next year. Syngenta said that it did not expect the merger to close beforehand because of delays on requests by the European Commission for more information.

World Bank finds Britain less friendly: Britain has dropped down the World Bank’s ranking of business-friendly countries as rival nations make themselves more attractive.

Thousands of Vauxhall jobs at risk from Brexit: Thousands of jobs at Vauxhall factories are at risk after the carmaker’s American owner warned that it could shut plants and cut capacity across Europe after taking a $400 million hit from the Brexit vote.

The Independent
Nearly 10,000 people are applying for the same job in China: Nearly ten thousands Chinese jobseekers are competing for one position: an officer worker at a political organisation.

Hornby’s prices are chugging higher as Brexit obstructs the tracks: Hornby isn’t an obvious microcosm for what is going on in Britain’s post-Brexit economy. The maker of everything from model trains to Airfix kits looks, on the face of it, to be a unique and niche business.

Hard Brexit could damage business, U.K.’s biggest tech CEO warns: Simon Segars, the Chief Executive of Britain’s biggest technology firm, has warned the Government’s plans to clamp down on immigration from the European Union in the event of a hard Brexit would damage his business.

Twitter to cut 300 jobs as losses mount: Twitter is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter.

The Daily Telegraph
Carney sends pound rebounding as he says markets 'mistaken' to be so gloomy on Article 50: The pound rebounded strongly after Mark Carney hinted the Bank of England does not want the currency to dive too far, and called markets’ doom and gloom around Brexit “mistaken”.

Apple bets on bumper Christmas to slow iPhone sales slide: Apple is predicting better than expected Christmas sales from its iPhone 7 last after reporting a further slide in revenues and its first decline in annual profit since 2001.

Vodafone braced for multi-million pound Ofcom fine: Vodafone is braced for a multi-million pound fine from the industry regulator after an eighteen-month double-probe into its suspected customer failings.

3i sells debt management arm for £222 million: The private equity group 3i has decided to sell its debt management business to Investcorp for £222 million, leaving the firm to work on its private equity and infrastructure investments.

Brexit fails to dent demand for cars, says Pendragon: The prospect of Brexit and the economic uncertainty it is bringing has failed to dampen motorists’ desire for a new set of wheels, according to car dealer Pendragon.

National Express scraps Nuremberg S-Bahn contract: Transport giant National Express has scrapped a deal to run commuter train services in the German city of Nuremberg, dealing a setback to its plan of expanding in Europe’s biggest rail market.

High youth unemployment leaves £45 billion hole in U.K. economy: High youth unemployment is costing the British economy £45 billion per year, according to research from PwC, as well as blighting the careers of workers who miss out on a job in their teens and twenties.

The Questor Column:

Buy Morrisons in the hope of a dividend treat: The latest numbers on Britain’s grocery industry, from Kantar Worldpanel, show that it remains a tough market. Tesco (whose retail bonds still could interest yield seekers, as Questor’s Income Portfolio column mentioned recently) appeared to do best of the big quoted grocers in the 12 weeks to October 8, with a 1.3% gain in sales, compared with a 0.4% drop at Sainsbury’s and a 3% slide at Morrisons. However, it was intriguing to see Morrisons’ shares rise on this news. In addition, the Chief Executive, David Potts, is still cutting capital expenditure and costs, sweating the firm’s working capital and above all paying down debt. Morrisons’s market value is £5.3 billion. Subtract its cash and investments and add on its debts and the firm has an “enterprise value” of £6.3 billion – yet it has property and plant valued at £7.1 billion. This suggests that there is value here. The lower the debt goes, the better, as that derisks the business. If Mr Potts hits his cost and working capital goals, Morrisons could start to generate healthy levels of cash flow. Questor says “Buy”.

Aveva: Aveva, a specialist in computer-aided design software and is part of the FTSE 250, can hardly be described as a bargain either, on nearly 30 times forward earnings, but the difference is that analysts’ earnings estimates are creeping higher once more. This may be down to rising oil prices, as the resources industry is one of Aveva’s key target markets alongside power plants and shipbuilding, and also the pound’s plunge, as Aveva makes more than 90% of its sales overseas. In addition, Aveva will have a new Boss next year when James Kidd replaces long-term Chief Executive Richard Longdon. Meanwhile the balance sheet has net cash and dividends are rising. The lofty valuation means the stock has its risks but stronger oil prices and a weaker pound are both helpful and it will be interesting to see what the new Boss brings. Questor says “Hold”.

The Guardian
Mark Carney: politics won't affect how long I stay in my job: The Governor of the Bank of England has indicated that an onslaught on his performance by the Conservative party establishment will not influence whether he stays in his post beyond 2018.

EU trade deal with Canada on brink of collapse after Belgian disarray: The EU’s hopes of signing a free-trade agreement with Canada this week are on a knife-edge after Belgium announced it could not sign the treaty because of opposition from regional parliaments.

Manufacturers feel falling pound is bad despite increasing their exports: A majority of manufacturing exporters believe the falling pound is bad for their businesses despite helping them to increase exports in the last three months at the strongest pace for two and half years.

Gender pay gap could take 170 years to close, says World Economic Forum: The authors of a new report forecasting that it could take 170 years to eradicate the disparity in pay and employment opportunities for men and women have called for urgent action to close the gender equality gap.

Daily Mail
Owner of Costa Coffee and Premier Inn embarks on fierce battle with rival artisan cafes and Airbnb-style accommodation sites: The Owner of Costa Coffee and Premier Inn has embarked on a fierce battle with rival artisan cafes and Airbnb-style accommodation sites. Hospitality giant Whitbread is rolling out upmarket coffee shops, and has launched a boutique hotel brand that can only be booked online to compete with Airbnb.

Royal Bank of Scotland could be granted last-ditch reprieve as Clydesdale Bank announces bid for its Williams & Glyn branch network: The Royal Bank of Scotland could be granted a last-ditch reprieve after Clydesdale Bank announced a bid for its Williams & Glyn branch network. Natwest Owner RBS has been scrambling to ditch the 300 branches ahead of a European Union deadline, or else face the possibility of being forced by Brussels to sell at a loss.

Daily Express
Spike in fraud since introduction of pension freedoms: The surge in fraud since last year’s pension freedoms has turned out to be far greater than originally feared. A shocking £13.3 million of pension fraud was reported to the City of London Police alone in the first six months after former Chancellor George Osborne’s reforms were introduced in April 2015.

Car insurance monthly instalments not a smart move: Motorists are burning money by paying for their car insurance in monthly instalments. Drivers pay an extra £73 a year by spreading the cost.

John Lewis names first female managing Director in its 152-year history: John Lewis has named Paula Nickolds as its first female Boss in the department store’s 152-year history.

The Scottish Herald
Activist hikes stake in STV further: Crystal Amber has ramped up its stake in STV to nearly 14% after buying its second big batch of shares in two days.

Perth pharmacy chain sees profits rise despite challenging conditions: Walter Davidson & Sons, Scotland’s biggest independent pharmacy chain, has hiked profits by nearly 40% to £2.02 million in its latest financial year.

Farm workforce hits all-time low: Scotland's farm workforce is now the smallest on record, with the latest official figures putting it at 63,400 souls, down by 1,900 since 2015.

£1.25 million backing for Argyll hydro scheme: A hydro power station on the River Lochy in Argyll has secured £1.25 million crowd funding from investors after enjoying a successful start with its generating operations.

Ury golf resort set to rival Trump’s Links: The group that runs tennis star Andy Murray’s Cromlix Hotel has joined forces with an Aberdeenshire estate to launch a golf resort that is set to rival U.S. Presidential candidate Donald Trump’s Menie Estate complex.

Crummock profits down as contracts delayed: Crummock Holdings, the civil engineering and road surfacing firm, has highlighted delays in receiving orders for large contracts as profits dropped to £366,076, from £570,657 in its financial year.

The Scotsman
Oil company Xcite Energy heading for liquidation: Shares in North Sea oil company Xcite Energy were suspended after crunch talks with its bondholders broke down.

Fears for high street as store closures accelerate: Concerns have been raised over the health of Scotland’s town centres after data published revealed that the number of store closures jumped sharply in the first six months of the year, with the net drop in retailers the highest in the U.K.

Dundee sports games firm targets £1.5 million funding goal: A Dundee-based maker of sports simulation games is seeking to raise £1.5 million as it prepares for the launch of its debut title.

SME boost as LendingCrowd lands seven-figure funding deal: An Edinburgh-based peer-to-peer lending platform has secured a seven-figure cash injection under a Scottish Enterprise initiative to boost funding to smaller businesses.

Robertson completes £20 million project for Glasgow Caledonian: Construction group Robertson has completed a £20 million contract as part of a major redevelopment project at Glasgow Caledonian University.

City A.M.
U.S. mobile network Sprint narrows losses on higher revenue and more customers: U.S. mobile network challenger Sprint has narrowed its losses in its latest quarter thanks to higher revenue from more customers.

Procter & Gamble shaves its costs and rakes in a rise in sales: U.S. consumer goods giant Procter & Gamble has posted a surprise rise in sales that sent shares higher in New York, despite warning over growth in coming months.

Wind in CK Hutchinson’s sails as its network deal approved by Italians: A merger of CK Hutchison’s 3 Italia and Italian Network Wind has been given final approval in Italy, just months after the European Commission stepped on Hutchison’s bid for O2.

GW Pharmaceuticals and British Sugar sign cannabis plant deal: British Sugar – a subsidiary of Associated British Foods – has signed a deal to grow cannabis plants for GW Pharmaceuticals.

Whirlpool sales lowered by the strong dollar: Shares in U.S. white goods maker Whirlpool took a hit after it give a downbeat outlook for coming months.

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Wed, 26 Oct 2016 08:24:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-newspaper-briefing/26369/in-the-papers-bradford-bingley-carpetright-syngenta-26369.html
Downgrades all round for Whitbread, Goldman not a fan of the grocers http://www.proactiveinvestors.co.uk/columns/broker-spotlight/26374/downgrades-all-round-for-whitbread-goldman-not-a-fan-of-the-grocers-26374.html Thu, 27 Oct 2016 05:07:00 +0100 http://www.proactiveinvestors.co.uk/columns/broker-spotlight/26374/downgrades-all-round-for-whitbread-goldman-not-a-fan-of-the-grocers-26374.html Market briefing: US markets ended mostly lower yesterday, led by a drop in technology and health-care shares http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26381/market-briefing-us-markets-ended-mostly-lower-yesterday-led-by-a-drop-in-technology-and-health-care-shares-26381.html UK Market Snapshot
UK markets closed lower yesterday, weighed down by a slump in commodities related stocks. Antofagasta declined 3.2%, after it stated that its copper output for this year would be close to the lower end of its guidance of 710,000-740,000 tonnes. Other miners, Rio Tinto, BHP Billiton and Anglo American dropped 0.2%, 1.7% and 2.0%, respectively. Oil majors, BP and Royal Dutch Shell shed 1.5% and 2.2%, respectively, as crude oil prices extended their losses from the prior session. On the brighter side, Lloyds Banking Group edged up 1.0%, paring its initial loss. The lender’s profit plunged for the third quarter as it set aside more cash worth £1.0 billion to compensate customers for mis-selling payment protection insurance. The FTSE 100 eased 0.8%, to close at 6,958.1, while the FTSE 250 fell 0.7%, to settle at 17,669.0.

US Market Snapshot
US markets ended mostly lower yesterday, led by a drop in technology and health-care shares. Apple shed 2.3%, after it reported its first annual decline in revenue in 15 years and its holiday sales forecast disappointed investors. Chipotle Mexican Grill plummeted 9.3%, as it posted its profit for the third quarter that plunged by 95.0%. Southwest Airlines plunged 8.5%, following it report downbeat result for the third quarter. Pandora Media lost 3.4%, after it reported lower than expected revenue for the third quarter and offered a weaker outlook for current quarter. On the positive side, Boeing climbed 4.7%, after it reported upbeat profit for the third quarter and also boosted its revenue outlook for the full year. The S&P 500 slid 0.2%, to settle at 2,139.4. The DJIA rose 0.2%, to settle at 18,199.3, while the NASDAQ dipped 0.6%, to close at 5,250.3.

Europe Market Snapshot
Other European markets finished in the red yesterday, following a mixed batch of corporate releases and weaker commodity prices. Galp Energia, Statoil and Saipem lost 1.7%, 1.8% and 3.0%, respectively. Novozymes tanked 11.2%, after its results for the third quarter fell short of market estimates and it also trimmed its guidance for the full year. Capgemini plunged 7.3%, despite confirming its outlook for 2016. Bucking the trend, Logitech International rallied 16.8%, after the Swiss computer accessories maker reported upbeat earnings and revenue for the second quarter. Kering jumped 7.8%, as it posted higher than expected sales growth for the third quarter, helped by successful turnaround of its largest brand, Gucci. The FTSEurofirst 300 index slipped 0.4%, to close at 1,349.8. Among other European markets, the German DAX Xetra 30 eased 0.4%, to close at 10,709.7, while the French CAC-40 fell 0.1%, to settle at 4,534.6.

Asia Market Snapshot
Markets in Asia are trading mostly in negative territory this morning, amid weakness in crude oil prices. In Japan, Mitsui OSK Lines and Pioneer have lost 2.4% and 4.3%, respectively. Canon has dropped 3.0%, after it slashed its outlook for operating profit for the full year. On the positive side, Central Japan Railway, Advantest and IHI Corp have advanced 2.8%, 3.7% and 3.8%, respectively. Oil stocks, Inpex and JX Holdings have gained 0.2% and 0.6%, respectively. In Hong Kong, energy producers, PetroChina and CNOOC have declined 2.5% and 3.4%, respectively. In South Korea, index major, Samsung Electronics has risen 1.2%, as it posted a drop in operating profit for the third quarter but was in line with analysts’ estimates. The Nikkei 225 index is trading 0.3% lower at 17,341.2. The Hang Seng index is trading 1.3% down at 23,028.4, while the Kospi index is trading 0.2% higher at 2,018.3.

Crude Oil
At 0330GMT today, Brent Crude Oil one month futures contract is trading 0.18% or $0.09 higher at $50.07 per barrel. Yesterday, the contract declined 1.59% or $0.81, to settle at $49.98 per barrel, amid growing uncertainty over OPEC’s plan to cut production. Meanwhile, the Energy Information Administration reported that US domestic crude stockpiles surprisingly dropped by 553,000 barrels for the week ended 21 October 2016.

Gold
At 0330GMT today, Gold futures contract is trading marginally lower at $1266.50 per ounce. Yesterday, the contract declined 0.55% or $7.00, to settle at $1266.60 per ounce, reversing its gains from the previous session, as stronger than expected US economic releases raised prospects of a rate hike in December.

Currency
At 0330GMT today, the EUR is trading 0.06% lower against the USD at $1.0900. Investors will closely assess the US durable goods orders for September and weekly initial jobless claims data, due to release later today. Yesterday, the EUR strengthened 0.19% versus the USD, to close at $1.0907. Meanwhile, the German GfK consumer confidence unexpectedly dropped for November.

At 0330GMT today, the GBP is trading 0.26% lower against the USD at $1.2214, ahead of the UK preliminary GDP growth for the third quarter and GfK consumer confidence for October, slated to release today. Yesterday, the GBP gained 0.49% versus the USD, to close at $1.2246, after data showed that UK’s BBA mortgage approvals rose more than expected in September.

Fixed Income
In the US, long term treasury prices fell and pushed yields higher, as traders embraced positive reports on the US services PMI for October and new home sales figures for September. Yesterday, yield on 10-year notes rose 2 basis points to 1.79%, while yield on 2-year notes remained unchanged at 0.86%. Meanwhile, 30-year bond yield advanced 3 basis points to 2.53%.


Key Economic News

UK BBA mortgage approvals rose in September

In September, BBA mortgage approvals in the UK registered a rise to 38.25 K, compared to market expectations of an advance to a level of 37.35 K. In the prior month, BBA mortgage approvals had recorded a revised reading of 37.24 K.

German import price index advanced surprisingly in September

The import price index unexpectedly climbed 0.10% on a MoM basis in September, in Germany, higher than market expectations for an unchanged reading. In the previous month, the import price index had recorded a drop of 0.20%.

German consumer confidence index eased surprisingly in November

In November, the consumer confidence index in Germany fell unexpectedly to a level of 9.70, lower than market expectations of an unchanged reading. The consumer confidence index had registered a reading of 10.00 in the prior month.

German import price index declined less than expected in September

In September, the import price index dropped 1.80% in Germany on a YoY basis, compared to a fall of 2.60% in the prior month. Markets were anticipating the import price index to drop 1.90%.

French consumer confidence climbed in October

Compared to a reading of 97.00 in the prior month consumer confidence rose to a level of 98.00 in France, in October. Markets were expecting consumer confidence to climb to a level of 98.00.

Italian retail sales unexpectedly slid in August

In Italy, the non-seasonally adjusted retail sales registered an unexpected drop of 0.20% in August, on an annual basis, lower than market expectations for an advance of 0.50%. In the previous month, retail sales had registered a revised drop of 0.30%.

Italian retail sales surprisingly dropped in August

In August, the seasonally adjusted retail sales unexpectedly dropped 0.10% in Italy on a MoM basis, less than market expectations for a rise of 0.40%. Retail sales had recorded a revised drop of 0.20% in the prior month.

US new home sales advanced in September

New home sales registered a rise of 3.10%, on MoM basis, to a level of 593.00 K in September, in the US, compared to a revised reading of 575.00 K in the previous month. Markets were expecting new home sales to rise to 600.00 K.

US Markit services PMI rose in October

In the US, the flash Markit services PMI rose to a level of 54.80 in October, compared to market expectations of an advance to a level of 52.50. In the previous month, Markit services PMI had registered a level of 52.30.

US mortgage applications declined in the last week

In the US, mortgage applications registered a drop of 4.10% on a weekly basis, in the week ended 21 October 2016. Mortgage applications had advanced 0.60% in the prior week.

US Markit composite PMI recorded a rise in October

The preliminary Markit composite PMI in the US advanced to 54.90 in October. In the prior month, Markit composite PMI had recorded a reading of 52.30.

Foreign investors turned net sellers of Japanese bonds in the previous week

Foreign investors turned net sellers of ¥752.50 billion worth of Japanese bonds in the week ended 21 October 2016, from being net buyers of a revised ¥364.60 billion worth of Japanese bonds in the prior week.

Japanese investors turned net sellers of foreign stocks in the previous week

Japanese investors turned net sellers of ¥5.60 billion worth of foreign stocks in the week ended 21 October 2016, from being net buyers of a revised ¥139.50 billion worth of foreign stocks in the previous week.

Japanese investors remained net buyers of foreign bonds in the previous week

Japanese investors remained net buyers of ¥773.60 billion worth of foreign bonds in the week ended 21 October 2016, as compared to being net buyers of a revised ¥318.10 billion worth of foreign bonds in the previous week.

Foreign investors became net buyers of Japanese stocks in the previous week

Foreign investors remained net buyers of ¥85.30 billion worth of Japanese stocks in the week ended 21 October 2016, from being net buyers of a revised ¥70.00 billion worth of Japanese stocks in the prior week.

Japanese small business confidence index climbed in October

The small business confidence index in Japan recorded a rise to 48.30 in October. The small business confidence index had recorded a reading of 47.70 in the prior month.

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Thu, 27 Oct 2016 08:28:00 +0100 http://www.proactiveinvestors.co.uk/columns/guardian-cfds-pre-market-briefing/26381/market-briefing-us-markets-ended-mostly-lower-yesterday-led-by-a-drop-in-technology-and-health-care-shares-26381.html