Today's Closing Update
U.S. shares fell lower with the U.S.30 shedding more than 100 points in early trading, as a slide in oil prices hit global markets and concerns about the fate of U.S. tax cuts continued to weigh on the mood.
European shares fell deep into negative territory on as market sentiment was hit by weaker oil prices.
Old Mutual said its OM Asset Management unit has priced the public offering for 6m of its shares for aggregate proceeds of $94m. The shares are being offered by Old Mutual, and the Asset Management Unit will not sell any shares in the offering or receive any proceeds. Proceeds will go towards general corporate purposes, and following the offering Old Mutual will own 1,000 shares in OM Asset Management. Morgan Stanley & Co is acting as sole bookrunning manager for the offering.
Glencore has offered central African nation Chad a grace period from its principal repayments on a more than $1bn cash-for-crude oil loan. The company has also extended the deadline for full repayment to 2025 from 2022, according to a letter seen by the news agency. Chad has been under pressure to restructure its debts after the International Monetary Fund said earlier this year that its external commercial debts, of which the Glencore debt formed the principal part, was unsustainable.
Land Securities Group said it has promoted the managing directors of its retail and London portfolios to the board from the start of 2018. The commercial property developer said head of the London portfolio Colette O’Shea and the head of its retail portfolio Scott Parsons will both become directors on 1st January. O’Shea joined the firm in 2003 and has held her current role since 2014, while Parsons was recruited in 2010 before taking up his existing role in 2013.
Carillion said that its 50:50 joint venture with the Zawawi family – Carillion Alawi – has been selected as the preferred bidder for the design and build of the New Sultan Qaboos Hospital in Salalah, the capital city of southern Oman’s Dhofar province. The JV, for which the contract has an estimated value of £240m, has signed a letter of award with the Oman Ministry of Health. The contract will consist of a two stage design and build process. The initial design and mobilisation phase, which will be directly funded by the customer, will begin immediately, while the second phase would start next year once the design has been completed, the contract executed and funding finalised.
Airbus has struck its biggest single deal with an order for 430 aircraft worth $49.5bn at list prices from US investment firm Indigo Partners. Indigo, whose interests include Europe’s Wizz Air, U.S.-based Frontier, and Mexico’s Volaris, will buy Airbus’s A320neo family of aircraft.
Dyson is suing former chief executive Max Conze for allegedly leaking company secrets and using company resources for his own benefit. Max Conze stepped down in October and was thanked by the British firm’s founder, Sir James Dyson. Mr Conze was sacked for an alleged series of breaches. Mr Conze denied the allegations and said it would cause an “unnecessary distraction” for Dyson staff.
Oil prices fell on the back of bearish data showing a rise in U.S. crude supplies and a weaker global demand outlook.
Gold prices trade higher as U.S. economic reports just released has provided a slight lift to precious metals prices.
Market Close
| Market |
Index |
Change |
% Change |
| UK 100 |
7,372.60 |
-41.8 |
-0.6% |
| UK 250 |
19,693.40 |
-153.2 |
-0.8% |
| GER 30 |
12,986.30 |
-47.20 |
-0.4% |
| FRA 40 |
5, 308.90 |
-6.7 |
-0.1% |
| U.S. 30 |
23,337.72 |
-71.75 |
-0.3% |
| U.S. 500 |
2,569.34 |
-9.5 |
-0.4% |
| OIL (BRENT) |
61.93 |
-0.28 |
-0.5% |
| GOLD |
1,278.23 |
-2.02 |
-0.2% |
UK Risers & Fallers
| Company |
Price |
Change |
% Change |
| Fresnillo |
1325 |
+42 |
+3.3% |
| Allied Mind |
162.375 |
+4.5 |
+2.7% |
| Provident Financial |
868.75 |
+16.5 |
+1.9% |
| TalkTalk Group |
177.75 |
-11.3 |
-6.0% |
| 3I Group |
898.50 |
-31.5 |
-3.4% |
| Mondi |
1721 |
-55 |
-3.1% |
Reported Economic Data
| Time/Date |
Previous |
Forecast |
Outcome |
| 10:30am: U.K. Average Earnings Index |
2.2% |
2.1% |
2.2% |
| 2:00pm: U.K. MPC Member Broadbent Speaks |
– |
– |
– |
| 2:30pm: U.S. CPI m/m |
0.5% |
0.1% |
0.1% |
| 2:30pm: U.S. Core CPI m/m |
0.1% |
0.2% |
0.2% |
| 2:30pm: U.S. Retail Sales m/m |
1.2% |
0.0% |
0.2% |
| 4:30pm: U.S. Crude Oil Inventories |
2.2m |
-2.1m |
1.9m |
Sources
https://www.wsj.com/articles/oil-pulls-back-on-weaker-demand-rising-u-s-stocks-1510742261
https://uk.reuters.com/article/usa-stocks/us-stocks-snapshot-wall-st-opens-lower-on-oil-price-slide-idUKL3N1NL4UB
https://www.cnbc.com/2017/11/15/european-stocks-curbed-by-oil-prices-but-focus-on-earnings-and-data.html
http://www.kitco.com/news/2017-11-15/Gold-Prices-Up-Boosted-A-Bit-By-U-S-Data.htmlhttp://www.londonstockexchange.com/exchange/news/alliance-news/detail/1510759352843908500.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1510757788643872900.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1510756586023836200.html
http://www.bbc.co.uk/news/business-42001793
http://www.bbc.co.uk/news/business-41992985
https://www.digitallook.com/news/news-and-announcements/carillion-jv-wins-middle-east-contracts–2973751.html