Highlights of the Day
Asian Markets
Share prices were mostly higher in Asia, lifted by robust trade data from Japan that suggest a sustained recovery in demand in China and other major markets. |
U.S. Markets
The U.S.30 climbed to a fresh high as investors bet that a tax-overhaul plan before Congress would pass, likely boosting profits for many U.S. companies. |
Today's News
Hunting said it still expects to make a “modest” profit for the year with earnings before interest, tax, depreciation, and amortisation forecast to be in the upper end of market expectations. Hunting said it still expects revenue for the 2017 calendar year to be around $700.0m with results strongly weighted to the second half. The company expects Ebitda at the upper end of expectations, it said, due to the strong performance of its Titan business during the second half.
easyJet confirmed that it has acquired certain assets of German airline Air Berlin and, as a result, will operate 25 aircraft from Berlin Tegel Airport. No financial details of the transaction were disclosed, though the purchase was reported to cost around EUR40 million when the deal was first announced in October. The deal earlier in the month was cleared by the European Commission. The agreement includes leasing former Air Berlin aircraft, taking over other assets including slots, and offering employment to former Air Berlin flying crew, the British low-cost carrier said.
Babcock International Group said its subsidiary Cavendish Nuclear has been granted a contract to supply Sellafield Ltd with nuclear material handling and containment systems. Babcock said the ten year contract will be worth up to £95.0m over the first three years. Cavendish, the company said, will use Babcock’s manufacturing facilities at Rosyth Dockyard for the project.
AstraZeneca said on the US Food & Drug Administration has accepted a new drug application for the use of Tagrisso in the treatment of patients with lung cancer. The FDA, AstraZeneca said, has granted Tagrisso priority review status. The acceptance is based on data from a phase III trial in which the drug “significantly” improved progression-free survival company to current treatments in patients with locally-advanced or metastatic lung cancer.
Theresa May will tell MPs that the UK will seek to sign trade deals with other countries despite potentially being bound by EU rules for around two years after Brexit. The UK prime minister will say that despite leaving the single market and customs union she wants “access to one another’s markets” to continue “as now” during an implementation period. The EU’s guidelines say that during any transition period the UK would have to comply with the bloc’s trade policy – preventing it from striking its own deals with other countries.
The squeeze on UK household finances loosened slightly in December, data compiled each month by IHS Markit, using data collected by Ipsos MORI, showed Monday. The household finance index rose to 43.9 in December from 43.5 in November. A score below 50 suggests pessimism regrading finances among the UK households. Moreover, the latest reading signalled the least marked deterioration in financial well being since December 2016.
Pilots for Ryanair Holidngs have suspended a pre-Christmas one-day strike, union bosses have announced. Impact, which represents Irish-based pilots, has agreed to meet the London-listed low-cost carrier’s management on Tuesday evening ahead of the planned strike on Wednesday. Some 117 directly-employed Ryanair pilots are involved in the dispute, making up the majority of the firm’s captains in Ireland – meaning any walkout would have severely affected flights. The dispute is about winning independent representation for pilots in the company, Impact said.
SuperGroup updated the market on two strategic developments on Monday, first announcing Superdry Sport has been appointed as the official clothing supplier to the UK delegation for the 2018 Invictus Games in Sydney, Australia. The company said Superdry Sport’s in-house team of designers and technicians would create full technical training and competition wear for the UK competitors.
London-listed providers of spread-betting and trading in contracts for difference responded to new proposals by the European regulator to protect retail customers. IG Group Holdings PLC, CMC Markets PLC and Plus500 Ltd issued responses to updated proposals issued on Friday by the European Securities & Markets Authority, which followed similar moves by the UK Financial Conduct Authority and European national regulators. Amongst the proposals by the European regulator are the prohibition of marketing and sale to retail clients of binary options and the restriction of marketing and sale of contracts for difference to retail clients were suggested.
3i Infrastructure said it will sell its 10.3% stake in UK water and sewage company Anglian Water Group for £395m. The infrastructure investment company has agreed to sell its stake in Anglian Water to a consortium of Dalmore Capital and GLIL Infrastructure LLP, a joint venture between five local UK government pension funds. The sale is expected to close early next year. 3i Infrastructure’s stake in Anglian Water was valued at £288 million as at September 30.
Great Portland Estates announced that the Great Ropemaker Partnership – the 50/50 joint venture between itself and Ropemaker Properties – has exchanged contracts to sell 240 Blackfriars Road to clients of Wolfe Asset Management. The firm explained that Wolfe Asset Management is a wholly owned subsidiary of the Al Gurg Family, which owns the multifaceted business conglomerate Easa Saleh Al Gurg Group in Dubai.
Gold edged lower on, pressured by firmer equities and a buoyant dollar after a bill to overhaul the tax system in the United States moved a step closer to ratification.
Oil Prices rose amid an ongoing North Sea pipeline outage and signs that booming U.S. crude output growth may be slowing
Companies Reporting this week
Day |
Companies |
Today: |
Hunting |
Tomorrow: |
Carnival |
Wednesday: |
No Companies Reporting |
Thursday: |
No Companies Reporting |
Friday: |
No Companies Reporting |
Early Market Movements
Market |
Index |
Change |
% Change |
UK 100 |
7,532.7 |
+42.1 |
+0.6% |
UK 250 |
20,193.9 |
+145.3 |
+0.7% |
GER 30 |
13,223.9 |
+120.3 |
+0.9% |
FRA 40 |
5,402.8 |
+53.5 |
+1.0% |
U.S. 30 |
24,651.74 |
+143.08 |
+0.6% |
U.S. 500 |
2,675.8 |
+23.8 |
+0.9% |
OIL (BRENT) |
63.77 |
+0.54 |
+0.9% |
GOLD |
1,256.71 |
+0.27 |
+0.0% |
UK Risers & Fallers (8:15am)
Company |
Price |
Change |
% Change |
Renishaw |
5147.5 |
+172.5 |
+3.5% |
Mondi |
1853 |
+35 |
+1.9% |
3i Group |
908.5 |
+17 |
+1.9% |
IG Group |
661.25 |
-71.75 |
-9.8% |
Next |
4203 |
-43 |
-1.0% |
Mediclinic |
603.5 |
-5.5 |
-0.9% |
Latest Broker Views
Company |
Broker |
Recommendation |
Price |
Target |
Mondi |
Deutsche Bank |
Buy |
1853 |
2150 |
Hikma Pharmaceuticals |
Goldman Sachs |
Neutral |
1079 |
1250 |
Forthcoming Economic Data
Time/Date |
Previous |
Forecast |
Outcome |
11:00am: European Final CPI y/y |
1.5% |
1.5% |
– |
12:00pm: U.K. CBI Industrial Order Expectations |
17 |
14 |
– |
Sources
http://abcnews.go.com/Business/wireStory/asian-markets-higher-upbeat-japan-trade-data-51852856
https://www.wsj.com/articles/asian-stock-markets-extend-declines-1513304204
https://www.reuters.com/article/us-global-oil/oil-rises-on-north-sea-pipeline-outage-lower-u-s-rig-count-idUSKBN1EC03J
https://uk.reuters.com/article/global-precious/precious-gold-inches-lower-as-dollar-holds-firm-on-u-s-tax-bill-hopes-idUKL4N1OI1DS
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513584936779425300.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513585054839431500.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513584046659393900.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513583973419386700.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513583434789362200.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513583667659371000.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513579759599068100.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513578765409042700.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513579093409046400.html
https://www.digitallook.com/news/news-and-announcements/great-portland-joint-venture-offloads-240-blackfriars–3033942.html
https://www.digitallook.com/news/news-and-announcements/supergroup-to-supply-invictus-games-gear-buying-out-dutch-agent–3033930.html