Market Commentary Video

Our team of spread betting and CFD trading experts give you a market round up of what’s happening in the UK and EU markets. View the video commentary, released every morning, and find out how investors are likely to react to major market moving events that are scheduled for release today  

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Commentary Highlights

Thursday, May 17, 2012

 

• As expected, the FED released a slightly more dovish minutes for the April meeting, indicating that further easing can’t be ruled out. Coupled with the Greek situation worsening, the market sentiment remains weak this morning.
• FTSE is currently lower 30 points at 5370, lowest levels since late December, the DAX lower 33 points at 6350 and the CAC lower 20 points at 3030.
• The decline in the main UK Index is led by banking, as it appears investors are still reacting to the eurozone problems. Lloyds the worst performers in the banking sector this morning, down 2% at 28.1p.
• Miners are also mainly in the red with Vedanta Resources the biggest faller in the FTSE this morning, after reporting their earnings were impacted by lower attributable profit from subsidiaries. They’re down 3.5% at 989.35p.
• ICAP are the biggest risers, up 3.2% at 347.30p after receiving a UBS upgrade from sell to neutral.
• In commodites and currencies, gold is slightly higher by 0.3% at 1547.53, so showing a bit of a bounce after being in freefall since last week. US Crude Oil is up 0.5% 9338.
• The dollar index is also strengthening slightly against major currencies, with EUR/USD at 1.2716 down 0.1% and the cable at 1.5896 down 0.2%.
• Main economic data to watch out for would be the weekly jobless figures from the US, later this afternoon.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

Wednesday, May 16, 2012

 

• The FTSE is trading down 77 points at 5356 as the prospect of fresh Greek elections in June increased worry over the impact of the country's possible exit from the euro zone
• The DAX and CAC are both down at 6334 and 3022 respectively, while Dow futures are currently trading at 12624 
• Concerns over Greece and other eurozone members continued to dominate proceedings today, with global markets suffering heavy losses. Investors in London were also wary ahead of the latest unemployment data, due for release later this morning 
• ICAP announced preliminary results today, having seen revenue and pre-tax profit slip as a result of the tough macroeconomic environment. Group revenue has fallen by 3% during the year. In contrast, the post trade risk and information business saw growth 
• Tullow Oil issued a trading statement today; the oil giant is confident of delivering further significant growth in 2012 after an excellent start to the year 
• Compass has also reported better-than-expected results, reporting revenue up 8.6% as compared to the year before 
• The biggest riser on the market today is Croda International, which jumped 54p at 2,173p, climbing 3.88% 
• The biggest faller is Polymetal International, down 6.5% 
• In economic data, the UK Unemployment Rate is due at 9.30am, followed by the BoE Inflation Report at 10.30am.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

Tuesday, May 15, 2012

• It was red pretty much across the board yesterday, with the FTSE down 2% or 110 points to 5465
• Greece’s failure to form a new coalition government has fed eurozone debt unease as the likelyhood of an anti-austerity Greek government increases and officials start to talk more openly about Greece leaving the eurozone
• The CAC and DAX both followed suit, with the CAC down 2.3% and DAX down just under 2%
• On the other side of the pond the story was much the same with Wall Street losing 130 points to 12690
• JP Morgan continued its downward slump, losing another 2% after chief investment officer Ina Drew announced she was leaving in the wake of its $2 billion trading blunder last week
• Strong German GDP data has lead to a slight upside across European shares this morning but the euro bears are not going anywhere for now
• Security company G4S, one of the largest employers in the world, reported strong growth in first quarter revenues and gave an upbeat forecast, leading shares up 3.52% this morning
• The biggest winner this morning is the engineering firm Renishaw which climbed a whopping 9.62% after moving from reduce to hold this morning by Numis after revising full-year earnings upwards
• In terms of economic news today we’ve got German economic sentiment to look out for to see if it can confirm what GDP figures said yesterday and US core CPI and retail sales after lunch at 1.30pm
• Other than that it’s all eyes on Greece and the implications of a Grexit – especially for the those most vulnerable such as Spain, which is already under increased pressure to expedite the reform of banks.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

Monday, May 14, 2012

• The FTSE 100 is down 60 points at 5480 so far today
• Concerns over the eurozone crisis are weighing on banking sector stocks
• Worries over global growth outlook is also weighing on investor minds, with China announcing that it will cut bank reserve requirement for a third time in six months in an attempt to boost its economy
• There is no major economic data scheduled for release today.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

Friday, May 11, 2012

• The FTSE is down 43 points at 5502, tracking losses in Asian markets as mixed Chinese data leaves investors wanting more
• The DAX is down at 6474, French CAC is down at 3098 and Dow futures are trading at 12790 currently
• The biggest riser so far today is Marks & Spencer, up 2.5%
• The biggest faller is Barclays, down 3.1%
• Royal Bank of Scotland, Lloyds and HSBC are also among the worst performers
• UK banking stocks were under pressure early on after US investment bank JP Morgan shocked the market after the bell on Thursday by revealing its second-quarter performance will be dented by a huge trading loss of $2 billion
• Centrica issued a trading update, saying higher gas and power prices have been offsetting lower usage levels this year, leaving the company trading in line with expectations. The company's share price remains unchanged
• In economic data, UK PPI figures will be released at 9.30am, followed by US PPI at 1.30pm.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

Thursday , May 10, 2012

• As further fears over the eurozone hit financial markets yesterday, equity markets experienced choppy trading amidst heavy volume
• A rally into the close saw the FTSE end off the lows, down 24 at 5530, with the DJIA down 97 points at 12,833, having been down over 1.5% in earlier trading
• With lighter volume so far this morning, Europe is better off with the FTSE slightly up at 5537 and the German Dax up half percent
• After yesterday's selling pressure, Lloyds has recovered 2.2% to be the biggest gainer so far on the FTSE
• Legal and General is also strongly up, 2% higher after a reshuffle on the board has traders more confident in the insurer
• Rolls Royce, however, is the biggest faller, down around 2.2%, continuing its decline since it reported last week
• With a very busy day ahead from a macro-economic perspective, in the UK we have manufacturing data at 9.30am and the bank rate at 12noon
• While in the US, we have trade balance and initial jobless claims at 1.30pm
• Later on in the day, traders will be anxious to hear what Ben Bernanke has to say, with many hoping for more indication on QE3.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today. 

 

Tuesday , May 8, 2012

 

• We return from the long Bank holiday weekend on a slightly cautious note
• In Europe, we see the FTSE trading lower so far by 20 points from Fridays close, currently at 5640. So it's investors first opportunity to react since before the weekend. And since even further political and economic woes in Greece and the French elections
• The German DAX is around 50 points down from yesterday at 6520 and the CAC around 36 points lower from yesterday
• The biggest risers on the FTSE are Tullow Oil and Aviva. Tullow Oil has discovered further oil and said its recent Kenya oil find may prove to be the largest yet in East Africa. The company's shares are up just under 4% at 1524. 
• Aviva CEO Andrew Moss has announced he is stepping down with immediate effect, and we see Aviva shares up 3.7% at 313
• The biggest faller so far this morning is fund manager Man Group which is down 3.7% at 85.4p, joined by a host of mining firms
• Amidst the political uncertainty in Europe, it appears the dollar index is showing strengths against other major currencies, with EUR/USD lower by 0.3% at 1.3025 and GBP/USD also lower by 0.3% at 1.6148
• The price of gold has also fallen by 0.5% to 1630, and US crude oil is down over 1.2% at 9680
• Major economic data will be German Industrial Production figures at 11am GMT, and broadcast later will be from the European Monetary Union, with ECB President Draghi speaking at 1.30pm GMT.

 

Tuesday , May 4, 2012

• We return from the long Bank Holiday weekend on a slightly cautious note. In Europe, we see the FTSE trading lower so far by 20 points from Fridays close, currently at 5640. So it’s investors first opportunity to react since before the weekend. And since even further political and economic woes in Greece and the French elections. The German DAX around 50 points down from yesterday at 6520 and the CAC around 36 points lower from yesterday.
• The biggest risers on the FTSE are Tullow Oil and Aviva. Tullow Oil have discovered further oil and said their recent Kenya oil find may prove to be the largest yet in East Africa. Their shares are up just under 4% at 1524. Aviva CEO Andrew Moss has announced he is stepping down with immediate effect, and we see Aviva shares up 3.7% at 313.
• The biggest faller so far this morning is fund manager Man Group who are down 3.7% at 85.4p, joined by a host of mining firms.
• Amidst the political uncertainty in Europe, it appears the Dollar index is showing strengths against other major currencies with the EUR/USD lower by 0.3% at 1.3025 and the GBP/USD also lower by 0.3% at 1.6148.
• The price of Gold has also fallen by 0.5% to 1630, and US crude oil down over 1.2% at 9680.
• Major economic data will be German Industrial Production figures at 11am GMT, and broadcast later will be from the European Monetary Union with ECB President Draghi speaking at 1.30pm GMT.

 

Friday, May 4, 2012

• FTSE currently trading down 31 points at 5736,DAX is at 6661, CAC is at 3200 and DOW FUTURES are at 13198.
• RBS – Q1 TRADE – The state-backed lender said it was on the path to recovery as it reported a better-than-expected first-quarter operating profit and a big reduction in its balance sheet.
• Rolls-Royce – TRADE – The Group didn’t give too much away but reassured that trading since the since of the year has been consistent.
• Aon (US) – Q1
• UK House Price Index was announced at 8.00am. House prices fell by 2.4% month-on-month according to mortgage lender Halifax.
• EMU – PMI Services – 9.00am, US – Non-Farm Payroll – 13.30
• U.S. jobs data is expected to show employers added 170,000 workers to their payrolls last month, although not enough to lower the country's 8.2 percent jobless rate.

 

 

Thursday, May 3, 2012

• Financial markets yesterday gave up much of Tuesday’s gains after the ADP jobs report from the US came in considerably worse than expected.
• While markets ended slightly off the lows, FTSE Down 54 at 5758 and the DJIA Down 10 at 13,268.
• This morning, despite negative trading updates from some blue chips, the FTSE is looking strong, UP ½% at 5787.
• Smith & Nephew currently top the FTSE up 2.3% as their results beat 1stQ expectations.
• Morrisons are also 1% Up despite Like for Like sales falling.
• On the downside, Antofagasta are the biggest faller, Down 4% after they announced that production fell in Q1.
• BG Group are also suffering after they missed analysts expectations, Down 3% this morning.
• With an important ECB meeting at 1.30 at the same time as US jobless claims, many traders are waiting till this afternoon and tomorrows key Non-Farms Payroll for more indication to the direction of this see-saw market.

 

 

Wednesday, May 2, 2012

• FTSE – 18 at 5797 after closing in the previous session above 5800. This was the first time since April 3rd following stronger US manufacturing data.
• Strong earnings mixed with weak eurozone economic data this morning.
• Germany unemployment is higher than expected, the rate remains at 6.8%.
• BSkyB reported record nine-month operating profits which is now trading +2.1% and top of the FTSE leader board.
• NEXT, Britains second biggest clothing retailer met forecasts for quarterly sales trading up +2% this morning.
• Ex-dividend day saw Admiral, Weir and Barclays trading without their dividend entitlement meaning they were the biggest losers on FTSE.
• At 10am GMT the EU zone unemployement rate is announced.
• At 3pm GMT the US factory orders are out and tomorrow the ECB rate decision with the non-farm payroll are out on Friday.

 

 

Tuesday, May 1, 2012

• As the Labour Day holiday descends on Europe, a quiet start to trading sees the FTSE with slight gains, currently 10 points higher at 5747 after losing 39 points in yesterday’s session.
• With earnings season kicking off in the UK with full force this morning, profits at Lloyds Banking Group came back in positive territory in the first quarter despite more money being set-aside to cover the mis-selling of PPI. They are currently atop the FTSE, 1.5% up on the day.
• BP however are the biggest faller this morning after they reported a bigger-than-expected drop in profits with the stock currently 2.5% down.
• At 9.30am GMT this morning we have UK Manufacturing PMI and later this afternoon at 3pm GMT we have US Manufacturing PMI to keep an eye on.

 

 

Monday, April 30, 2012

• With major European indices experiencing four consecutive days of gains last week, we begin this week with the FTSE trading about 15 points lower at 5760, and the German DAX at 6810 so trading flat from last weeks close.
• So far the biggest riser seen on the FTSE is Aberdeen Asset management, they posted their first half results this morning and reported an increase in first half assets under management by 8.7% and raised its interim dividend by 16%, so their share price is seen trading higher by 2.5% this morning.
• On the other end of the spectrum, the biggest faller is Man Group, who are down over 4%. It seems a reaction to the news late last week of their funds under management being down 15%. They were also subject to takeover chatter last week.
• Both gold and US Crude Oil still quite flat in early trading, Gold at 1662 and US Crude Oil at 10481.
• The dollar index is still largely unmoved against major currencies this morning, with the EUR/USD still at 1.3238 so completely flat, and the GBP/USD up just 11 pips at 1.6289.
• In economic data, keep your eyes on EMU CPI figures at 10am GMT and US Personal Consumption Expenditure figures at 1.30pm GMT.
• A busy week ahead in term of both major corporate earnings and economic figures so plenty of trading opportunities. Thanks for watching and tune in tomorrow.

 

 

Friday, April 27, 2012

• Cautious start for EU markets this morning as FTSE rises 16 points to 5762
• Spanish stocks saw a negative open as the S&P downgraded Spanish credit rating by 2 notches to BBB+ last night after Spanish unemployment hit 24.4%
• This has put pressure on stocks and bond yields +6% 
• Other disappointing data in the eurozone showed that French consumer spending came in worse than expected at -2.9%, versus expectations of -1.9%
• In UK markets, banks and miners were the worst performing stocks. Barclays fell ahead of the annual general meeting where shareholders are expected to revolt against levels remuneration, pulling down sector peers Lloyds and RBS 
• Miners are down too, tracking lower metal prices. 
• Looking ahead to today, US GDP will be released at 1.30pm, annualised 2.5% from 3%. The University of Michigan consumer confidence survey will be released at 2.55pm.

 

 

Wednesday, April 25, 2012

• With a fairly quiet trading session yesterday with rumours of more Quantitive easing offsetting worse than expected consumer confidence and consistent New Home Sales, the FTSE closed up 43 points at 5709 and the Dow was up 74 points closing just above the 13000 mark.
• This morning it has been a fairly quiet start but traders are awaiting the key UK GDP data at 9.30am GMT which is expected to show a slight growth in the UK economy in the first three months of this year.
• Arm Holding are the biggest gainer this morning, Up 2.5% after Apple announced some juicy figures after the bell last night which saw the stock surge 7.5% in after hours, up a staggering $43.
• The biggest fallers this morning are the ex-div stocks with Centrica, Reed Elsevier and Tesco propping up the FTSE, down between 3.5% to 2.5% respectively.
• With US durable goods at 1.30pm GMT and the FOMC statement at 5.30pm GMT, there is plenty of macro data to keep traders keen.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Friday, April 20, 2012

• European stock inched higher in a choppy market on this morning, led by banks, after a surprise in German Ifo data lifted stocks out of earlier losses, while oil firms weighed on indexes.
• The German DAX 30 index fared the best among major country-specific indexes, up 0.6% to 6,713.14, after the Munich-based Ifo Institute’s business confidence index unexpectedly rose to 109.9 in April. Commerzbank AG added 2% and Deutsche Bank AG rose 2.1%.
• Chemicals firm BASF SE supported the index and took on 1.2% to 65.76 euros after J.P. Morgan Cazenove lifted the price target on the stock to €61 from €57 a share.
• Spanish stocks regained some lost momentum after the IBEX 35 index closed below the 7,000 mark for the first time in three years on Thursday. The index traded 0.5% higher at 6,943.90 on Friday.
• In France, the CAC 40 index added 0.4% to 3,187.83. Banks were among top advancers in the index and Société Générale rose 3.3%, Credit Agricole SA added 3.4% and BNP Paribas took on 3.5%.
• Banks were also on the rise in the U.K. Lloyds Banking Group PLC advanced 2% and Standard Chartered PLC climbed 0.8%.
• Oil firms weighed in the index. BG Group PLC lost 0.9% and BP PLC shed 1.2%.
• The FTSE 100 index inched 0.1% higher to 5,750.02.
• EUR/USD 1.3150 Gold 1640

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, April 19, 2012

• The index is up 30 points to 5777 as investors digest corporate updates and look towards Spanish debt auction of 2 + 10-year bonds.
• Spanish 10-year government bond yields shot up 6% earlier this week, raising fears that it will not be able to manage its public financing without an international bailout.
• In UK equities, Hargreaves Lansdown was the top gainer on the FTSE 100 after it reported that Q1 saw assets under management rise to record levels.
• Anglo American was also in demand after seeing production in most of its major resource groups increase strongly.
• Persimmon and Debenhams beat expectations, while WH Smiths hiked dividends following H1 profits of £66 million.
• In economic data, the Spanish debt auction was held this morning, followed by US jobless claims at 1.30pm GMT and US existing home sales and EU consumer confidence at 3pm GMT.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Tuesday, April 17, 2012

• After positive retail data from the US was paired with considerably worse than expected manufacturing data yesterday, the markets lacked direction and ended with moderate gain – FTSE UP 0.3% while the Dow was up 0.5%.
• With little taking place overnight in Asia, unsurprisingly the markets have opened fairly flat this morning. Traders are awaiting a rift of macro economic data due later on with UK CPI data at 9.30am GMT and German Economic sentiment at 10am GMT.
• With a quick look at stocks we have the financials at the top of the gainers this morning with Barclays up 2% and Lloyds and RBS both UP 1.5%. Burberry are the biggest faller, off 4% after a trading update suggests a slowdown in the luxury retail market and a broker downgrade to hold from Merchant Securities.
• With Spanish and Greek bond actions this morning and US building permits at 1.30pm GMT, it is likely to be a busy day ahead on the markets.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Monday, April 16, 2012

• In spite of further falls in the banking sector, major European bourses are showing gains as we approach midday.
• FTSE is at 5688 up 36 points, DAX is at 6628 up 45 points and CAC is at 3218 up 29 points.
• Top gainer: IPR as French giant GDF Suez agrees to buy remaining 30% it doesn’t already own. up3.2%.
• Top faller: Lloyds down 4.7% to 29.30 but was off 6%.
• Looking ahead there is a plethora of companies reporting this week, especially in the US. Visit the market analysis section of our website for a comprehensive diary.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Friday, April 13, 2012

• After experiencing a rally over the last two days, since Tuesdays heavy falls, we end the week with the FTSE 100 easing off slightly, with similar falls seen across European indices also.
• The FTSE100 is trading lower 25 points at 5690, the DAX is trading lower by 35 points at 6700, and the CAC is lower by 20 points at 3240.
• It appears the falls across major markets is a reaction to China’s GDP data released overnight missing expectations, and showed that their economy grew at its slowest pace in almost 3 years during the first quarter.
• Despite that, however, miners are amongst the FTSE risers, but oil firm Royal Dutch Shell is the biggest riser at just a percent. This is following news of an oil sheen spotted near its operations in the Gulf of Mexico.
• The biggest faller so far is Sage Group following a broker downgrade, joined by a host of banking stocks.
• Gold is down by 0.2% at 1672, US Crude Oil is down by 0.5% at 10310. Dollar index is stronger this morning, EUR/USD is lower by 30 pips at 1.3161, and GBP/USD is lower by 30 pips at 1.5928.
• As far as economic data is concerned, keep an eye out for US CPI figures that will be released at 1.30pm GMT and the Michigan Consumer Sentiment Index at 2.55pm GMT.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, April 12, 2012

• The UK 100 opened positively this morning.
• The DAX is down 12 points, the CAC is up 52 points and Dow futures are currently up 51 points.
• Britain's FTSE 100 index was seen opening down 6-9 points, or 0.2 percent on Thursday, according to financial bookmakers, running counter to signs of a higher opening in europe.
• In currencies, GBP/USD is trading at 1.5928, EUR/USD 1.3116 and USD/JPY is at 81.02.
• Gold is currently trading at $1,658, while US crude oil for May delivery is trading at $103.22
• So there is important economic data due out at 1.30pm which is US International Trade, US weekly jobless claims and US PPI - Producer Price Index which can be found on our economic calendar.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Wednesday, April 11, 2012

• Following quite heavy falls across major indices yesterday, the markets have opened cautiously lower still from yesterday’s close.
• It appears markets are still concerned over Europe’s debt, and Spanish and Italian bond yields soaring yesterday, Spanish bonds reaching 6 percent.
• In Europe, FTSE currently trading at 5585 down about 10 points, DAX is trading at 6630, so flat from yesterdays close and the CAC also flat at 3220.
• Amongst the biggest FTSE risers are G4S and Weir Group, up 3% and 2%. But a host of mining companies including Fresnillo, Kazakhmys and BHP Billiton also amongst the main risers, showing signs of a rebound in the sector, after yesterdays losses.
• Amongst the fallers, BT is down 1.7% after a receiving a broker downgrade.
• Gold prices steadying today at 1660, after rallying strongly yesterday. US Crude oil is trading at 10150.
• EUR/USD up 0.2% at 1.3108, and GBP/USD up 0.3% at 1.5910. Again most currencies and commodities showing some signs of rebounds from yesterday’s moves.
• In economic data, German Wholesale Price Index figures were slightly better than expected. And later today we have the Monthly Budget Statement from the US.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Tuesday, April 10, 2012

• The FTSE 100 fell in early trade this morning, tracking steep falls on Wall Street in the aftermath of Friday's disappointing U.S. jobs report.
• The UK benchmark is trading down around 57 points, at 5,666, and across Europe the French CAC 40 is DOWN 1.4 PCT, Spain's IBEX is down 1.1 PCT and Germany's DAX is down 1.2 PCT
• The weaker sentiment was also evident in the FTSE 100 Volatility index, which jumped nearly 9 percent this morning.
• Mining stocks particularly were out of favour, with India-focused Vedanta Resources among the worst off, down 1.9 percent, after it posted a drop in full-year iron ore output.
• Elsewhere, data showed China's imports grew less than expected in March, rising 5.3 percent year-on-year, highlighting concerns about the pace of slowdown in domestic demand.
• Businesses which rely heavily on exports to emerging economies, such as automakers are among the biggest fallers in Europe markets this morning.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, April 5, 2012

• Having hit a two-month low this morning, European shares have recovered slightly following the us open.
• FTSE is at 5712 up 9 points, DAX is at 6759 down 24 points and CAC is at 3309 down 4 points.
• US initial jobless claims fell to their lowest level since april 2008 attracting buyers back to a market scared by reknewed euro debt concerns.
• Top gainer: ashmore up 3.6% on ubs buy recommendation.
• B-Sky-B amoung top fallers, off 2.25% on the annoucement that their news channel authorised email hacking.
• The equity markets in Europe are closed Friday and Monday.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Wednesday, April 4, 2012

• The FTSE is down 30 points, the CAC is down 35 points and DAX is down 90 points.
• UK stocks are negative first thing after the US Federal Reserve quashed speculation that it would start another round of quantitative easing (QE) in the near-future.
• Mining peers Vedanta, Antofagasta and Kazakhmys were heading the other way all dragging the index down around 2% in early trading.
• In Europe today the first Wednesday of the month means the announcement of the latest eurozone interest rate decision, with the bank widely expected to keep interest rates at the record-low level of 1%.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Tuesday, April 3, 2012

• As Global bourses started April in a positive manner, the FTSE closed U106 at 5874.
• The Dow U52 at 13,264 after strong data propelled a market led forward by the miners.
• Things have started in a quieter manner this morning but the FTSE is still U¼%.
• Aberdeen Asset Management leading the way, U2.2% after SocGen raised their price target and reaffirmed their hold rating.
• On the down side, Compass Group is the biggest faller, off 1.5%, after a Morgan Stanley downgrade despite raising their price target.
• With UK construction data at 9.30, US factory orders at 3pm and FOMC meeting minutes at 7pm, there is plenty of macro data to keep an eye on.

 

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Monday, April 2, 2012

• The FTSE is up 15 points at 5792 this morning, following a positive close on Friday. 
• The mining sector provided strength in the last session of the first quarter. 
• On Sunday, China’s manufacturing data beat expectations; the purchasing managers index jumped to a 11-month high – translated to strong copper prices this morning and pushing miners to the top of the leader board. Rio Tinto, Fresnillo and Kazakhmys are up by 2%. 
• At the other end, the banking is sector down. RBS has bucked the negative trend considering dividends for preference shareholders. There is little domestic data pre-Easter so the focus will be on monetary policy decisions by the BoE and ECB on Thursday. Across the Atlantic, manufacturing and construction data will be announced at 3pm GMT.
  
   

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, March 29, 2012

• Dow fell 71 points overnight on durable goods orders that missed estimates.
• Asia also trading lower.
• Spain continued to get market attention as a general strike against government austerity measures got underway a day ahead of the government’s 2012 budget. Major demonstrations were further due to take place across the country with an evening rally planned in Madrid.
• H&M disappointed with results and dragged retailers lower also similar stories with Marks and Spencer and next.
• EUR/USD was off over night at 1.33 and gold also weakened by dollar strength to 1655.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Wednesday, March 28, 2012

• After steep falls yesterday, major indices are trading somewhat flat to slightly higher this morning, with UK GDP figures in focus a bit later this morning.
• FTSE is up first thing, by 0.3% at 5865, with the DAX up 0.5% at 7090 and the French CAC up 0.6% at 3480.
• The biggest fallers on the day are dominated by Insurers and miners, mainly due to some of those stocks going ex-dividend today. RSA Insurance Group down 5%, and Prudential down over 3%.
• Amongst the miners Anglo American is down over 2.5%, incidentally reaching a new 3-month low against the FTSE.
• The risers in the market this morning dominated by stocks generally seen as defensive, with the likes of Reckitt Benckiser, Glaxosmithkline and Unilever all trading higher by just under a percent.
• In company news, Petropavlovsk posted full year results, they announced they doubled their total revenue to $1.3B in 2011, and earnings per share increased to $1.23, 11 times more than the previous year, and their share price currently 4% up trading in the FTSE250.
• Gold is trading flat at 1683, with US Crude Oil also flat at 10671. Sterling against the dollar is still flat this morning at 1.5940, with the euro creeping up against the Dollar by about 30 pips at 1.3357.
• As well as the UK GDP this morning, keep an eye out for German CPI figures at 1.30pm GMT, and US Durable Goods Orders also at 1.30pm GMT.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Monday, March 26, 2012

• European stocks edged higher in the morning trade following a week-long sell-off, but rising concerns over Spain's ability to deal with its debt crisis weighed on the country's stocks, with the IBEX benchmark down 1.4% at a two-week low.
• Heavyweight energy stocks helped haul Britain's top share index higher in early trade on Monday, although lingering concerns over global growth and technical factors limited equities' overall gains.
• BG Group (BG.L) was a strong performer, up 1.0%.
• Weakness in miners has countered gains in energy stocks, with the sector giving back some of Friday's late rally as concerns lingered over a possible slowdown in global growth, particularly from top metals consumer China.
• In early morning trading the FTSE 100 index was up 18.73 points, or 0.3%, at 5,873.62, having added 0.2% on Friday to finish above its 50-day moving average, a key technical level.
• Technical analysis for the FTSE 100 index was bullish in the short term, yet remains cautious overall.
• Banking stocks were mixed as some initial gains faded, with Lloyds and RBS shedding 0.9% and 0.6%  respectively.
• However peer Barclays added 1.4%, with traders citing the impact of a positive note from Morgan Stanley, raising estimates and its target price for the banks.
• In other markets, U.S. stock index futures pointed to a slightly higher open on Wall Street on Monday, with futures for the S&P 500 up 0.14 percent, Dow Jones futures up 0.2% and Nasdaq 100 futures up 0.21% in early trading.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Wednesday, March 21, 2012

• After the miners were dragged south from comments by BHP Billiton, the FTSE closed down 69 points the Dow closed down 68 yesterday.
• With little happening overnight, the FTSE has started strongly this morning Up 21 points at 5912 with a bounce back from those miners who suffered badly yesterday.
• With many traders waiting for the UK budget later on, there is also plenty of macro data throughout the day to keep an eye on such as UK Public Sector Borrowing and MPC Minutes at 9.30 am GMT.
• US Existing Home Sales are due at 2pm GMT.
• Aviva and Standard Life, who both went ex-div this morning, are understandably the biggest fallers, both down around 3.3% while Serco are the biggest gainers Up 2.5% after HSBC raised them to overweight.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Tuesday, March 20, 2012

• The markets continue to consolidate in Europe this morning, easing off eight-month highs.
• The FTSE has dropped down 28 points to 5932, DAX is down 32 points to 7121, and the CAC is down 16 points to 3561.
• The Greek CDS auction became a non-event as it settled near the initial market with a mid price at 21.5%. CDS holders will receive 78.5% of their bonds at face value.
• Top gainer: ARM holdings is up 1.64% on INVESTEC upgrade.
• Top faller: The mining sector is down over 2% as metal prices have come under pressure.
• The UK CPI is announced at 9.30am GMT.
• The US housing starts at 12.30 pm GMT.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Monday, March 19, 2012

• A somewhat quiet start to the week on the corporate data. Having touched an eight-month high last week, the FTSE is just dropping off 25 points from last week’s close, currently trading at a level of 5940, with slight falls seen in European indices also, the German DAX at 7120, down 40 points and the CAC down 25 points. Some of the Economic data released last week possibly showing signs of a slowdown, suggesting the recent trends may have peaked.
• Homebuilder Berkeley group issued its interim management statement, they announced they delivered a robust trading performance over the period from 1st November to 29th February, and are well placed to deliver on its target to double profit before tax to £220million by April 2013.
• Also Magic Bidco Ltd, an investment vehicle indirectly owned by the Vista Funds, have agreed to buy the software developer Misys Plc for 350p per share.
• On a day quite devoid of any major economic data scheduled for release, the euro has edged lower against the US dollar trading at 1.3148, down by 0.2% and the pound sterling flat against the dollar from Friday’s close at 1.5836.
• Gold prices flat on the day at 1656 although still largely down from last weeks levels, with US crude oil also flat at 10740, which appears to be trading within a range at the moment.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, March 15, 2012

• Wednesday ended down 10 points for the FTSE after five successive days of gains - the longest winning streak since last summer.
• Today the FTSE flat at 5943 as investors await jobless data from the US.
• Fitch credit ratings agency has delivered an unpleasant message that the UK is marginally odds on to lose its AAA rating. This is not good news for the Chancellor prior to the Budget.
• BP is the top faller on the day today amidst news of alleged serious corruption and bribery at its tanker chartering division.
• There is no domestic economic data due for release today.
• In the US, February producer prices will be released at 12:30pm GMT, followed by US weekly jobless claim data at 2pm GMT. Also keep an eye out for the March Philly Fed survey.
  
   

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Friday, March 16, 2012

• European stock markets traded in tight ranges on Friday, with support coming from a firmer financial sector and miners such as Rio Tinto Plc, while autos dragged on the downside. The Stoxx Europe 600 Index added 0.3% to 271.84, set to rise for a fourth consecutive day after S&P 500 ended above 1400 for the first time since 2008 after another round of solid US economic reports. Banks were among the biggest gainers in Europe.
• In London, RBS added 2.7% after UBS upgraded the stock to buy from neutral. Among others, Lloyds rose 1.4% and Barclays added 0.7%, helping to lift the FTSE 100 Index by 0.2% to 5,950.28.
• There were gains among resource stocks as well. Tullow Oil rose 1.8% in London after announcing that it has successfully encountered oil in offshore Ghana. Rio Tinto advanced nearly 1% and Anglo American gained 0.7%. In France, the CAC 40 Index traded flat at 3,578.79. Shares of AXA SA rose 1.7% and BNP Paribas SA gained nearly 1%.
• Also providing support in Paris, Veolia Environnement SA gained 1.4% after UBS upgraded the stock to neutral from sell.
• Weighing on the French Index, Renault SA shed 1% and Peugeot SA lost 0.7% after Bernstein cut the European auto sector to neutral.
• Among German autos, shares of Porsche Automobil Holding SE fell nearly 3% after Bernstein cut it to underperform from market-perform.
• Daimler AG was cut to market-perform from outperform and shed 1.7% in Frankfurt. BMW AG followed the sector lower, off 1%.
• The German DAX 30 index was flat at 7,149.87, buoyed by Munich Re AG. The insurance firm added 1.4% after Exane BNP Paribas reiterated its buy rating on the stock and lifted its price target 3%.
• In currencies, EUR/USD is 1.3050, while gold is trading at 1,650.
  
   

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Thursday, March 15, 2012

• Wednesday ended down 10 points for the FTSE after five successive days of gains - the longest winning streak since last summer.
• Today the FTSE flat at 5943 as investors await jobless data from the US.
• Fitch credit ratings agency has delivered an unpleasant message that the UK is marginally odds on to lose its AAA rating. This is not good news for the Chancellor prior to the Budget.
• BP is the top faller on the day today amidst news of alleged serious corruption and bribery at its tanker chartering division.
• There is no domestic economic data due for release today.
• In the US, February producer prices will be released at 12:30pm GMT, followed by US weekly jobless claim data at 2pm GMT. Also keep an eye out for the March Philly Fed survey.
  
   

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Wednesday, March 14, 2012

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Tuesday, March 13, 2012

Monday, March 12, 2012

Thursday, March 8, 2012

Wednesday, March 7, 2012

Thursday, March 1, 2012

• Starting with the indices, both the FTSE and Dow have tested year highs of 6000 and 13,000 respectively, yet neither has had the staying power to push higher. 
• The FTSE is trading at 5,871, up four points and Wall Street is slightly lower today by 10 points at 12,942 as of 8.20. In Europe all the major indices are trading lower, the DAX losing 14 points and the French CAC also lower by 10 points. 
• Turning to the equities, leading the charge higher is Man Group, up 5.4%, with WPP also gaining, up 2.8%. 
• Looking at the fallers -- no one has yet to register a 1% fall but RBS and Weir Group are coming close, both down 0.85% so far. 
• Looking at the commodities, oil is continuing to retreat from earlier highs of $109 this week, this morning sees US Crude at $106.74, down 31 points. Conversely, UK Brent has edged higher by 11 points to just shy of $123 a barrel. 
• In the currency markets, sterling is for the most part trading lower against its major pairs, the exception being cable with the pound fractionally higher by four pips at 1.5920. Currency traders will be watching cable closely to see if 1.60 is tested. The single currency is trading mixed this morning - up against the US dollar but down against the yen. 
• On the macro economic front, the numbers to watch out for are German Manufacturing Index, Italian CPI and US jobless claims.

 See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

 

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