Today's Closing Update
U.S. shares traded mixed as crude tried to bounce back from back-to-back sell-offs. Still, the broader market has stood its ground, with the U.S. 500 and U.S. 30 up marginally for the week, while the technology index was had risen 1.34% in the same period.
European and U.K. shares closed mixed after Senate Republicans released their heath care bill, which would repeal Obamacare.
The Competition and Markets Authority has cleared the way for the proposed £3.8bn merger between Standard Life and Aberdeen Asset Management. The competition watchdog announced last month that it was launching an investigation into the takeover, to see whether the merger would result in “a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.” However, it said that it will not be launching an in-depth phase two probe.
Walmart has been accused of trying to coerce its technology suppliers into shunning Amazon’s cloud computing service. Amazon has accused its rival of attempting to “bully” the IT companies into picking a rival platform. The row follows a report by the Wall Street Journal, which said other unnamed large retailers had also asked vendors to shun Amazon Web Services. The row comes at a time Amazon is expanding its shopping operations.
Carnival said it has raised its earning per share guidance for the current year, despite reporting a lower pretax profit in its first-half. Carnival said its full-year adjusted earnings per share are now expected to be in the range of $3.60 to $3.70, up from its previous guidance of $3.50 to $3.70, and from $3.45 the previous year. For the half-year ended May 31, Carnival reported a pretax profit of $737.0m, down from revenue of $5.68bn, up from $5.41bn. The reason for the lower profit is an increase in operating costs, mainly from fuel costs, which came up to $607m for the half year, up from $383m the prior year.
Theresa May seemed to strike a conciliatory tone with her EU counterparts regarding Britain’s exit from the bloc, as an EU summit began on Thursday. The two-day summit comes after negotiators for the EU and Britain met on Monday for their first formal talks in the two-year Brexit process. “I am very pleased to be here at the European Council today following the constructive start of our negotiations for the UK to leave the EU,” May said. “Today, I am going to be setting out some of the UK’s plans particularly on how we propose to protect the rights of EU citizens and UK citizens as we leave the EU,” she added. May’s initiative to address the issue of citizens’ rights – a core issue for EU negotiators – can be seen as offering an olive branch to the EU after her premiership was weakened by a poor election result earlier this month.
The Football Association said it has ended all partnerships with betting sponsors. In a statement, the FA said it was also cutting short a £4m per year deal with Ladbrokes Coral Group after just one year. The decision came after a three-month review into game’s relationship with gambling and new rules will come into play immediately. “We would like to thank Ladbrokes for both being a valued partner over the last year and for their professionalism and understanding about our change of policy around gambling,” the FA’s Chief Executive Martin Glenn, said.
UK total order books strengthened to a near three-decade high in June, the Industrial Trends Survey from the Confederation of British Industry showed. The total order books rose to +16% in June, the highest since August 1988. At the same time, the export order book balance came in at +13%, the strongest since June 1995. Manufacturers expect output to grow at the same robust pace in the coming quarter, with 37% predicting growth, and 9% a decline, giving a rounded balance of +27%. Average selling prices are still expected to rise in line with the level seen in May.
First-time claims for US unemployment benefits saw a modest increase in the week ended June 17th, according to a report released by the Labor Department on. The report said initial jobless claims inched up to 241,000, an increase of 3,000 from the previous week’s revised level of 238,000. Economists had expected jobless claims to edge up to 240,000 from the 237,000 originally reported for the previous week. The Labor Department said the less volatile four-week moving average also crept up to 244,750, an increase of 1,500 from the previous week’s revised average of 243,250. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 8,000 to 1.944m in the week ended June 10th.
Royal Mail on said it is in discussions regarding the possible sale of part of its Mount Pleasant site in London. “The discussions are ongoing and there is no certainty as to when or whether any transaction will be agreed. A further announcement will be made by Royal Mail if and when required,” it said in a statement. Shares in Royal Mail were trading down 2.0% at 430.1p.
Oil prices edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC-led efforts to balance the market.
Gold rose on as oil prices languished near seven-month lows, denting risky assets such as stocks while the dollar retreated.
Market Close
| UK 100 |
7439.3 |
-8.5 |
-0.1% |
| UK 250 |
19,658.4 |
-24.2 |
-0.1% |
| GER 30 |
12,802.0 |
+27.7 |
+0.2% |
| FRA 40 |
5,285.3 |
+11.1 |
+0.2% |
| U.S. 30 |
21,449.53 |
+39.50 |
+0.2% |
| U.S. 500 |
2,439.3 |
+3.7 |
+0.2% |
| OIL (BRENT) |
45.70 |
+0.88 |
+2.0% |
| GOLD |
1,250.53 |
+4.05 |
+0.3% |
UK Risers & Fallers
| Evraz |
189.65 |
+14.1 |
+8% |
| Shire |
4626 |
+166 |
+3.7% |
| Provident Financial |
2447 |
+86 |
+3.6% |
| JD Sports |
397.4 |
-19.2 |
-4.6% |
| United Utilities |
898.5 |
-39.5 |
-4.2% |
| Morrisons |
241 |
-6.7 |
-2.7% |
Reported Economic Data
| 11:00am: U.K. CBI Industrial Order Expectations |
9 |
7 |
16 |
| 12:30pm: U.S. Unemployment Claims |
237k |
241k |
241k |
| 2:00pm: U.S. FOMC Member Powell Speaks |
– |
– |
– |
Sources
http://www.cnbc.com/2017/06/22/us-stocks-oil-health-care.html
https://www.digitallook.com/news/news-and-announcements/cma-clears-way-for-standard-life-aberdeen-merger–2734906.html
http://www.bbc.co.uk/news/technology-40367626
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498139134057570800.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498134051687435100.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498134031947434000.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498136024017484200.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498144767697697000.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1498145506777707300.html
http://www.cnbc.com/2017/06/22/european-stocks-look-to-oil-prices-politics-stock-news.html
http://www.cnbc.com/2017/06/21/oil-prices-climb-off-10-month-lows-as-us-stockpiles-drop.html
https://www.reuters.com/article/global-precious-idUSL3N1JJ2XR