Highlights of the Day

Asian Markets

Asian stock markets are mostly higher with modest gains in the last trading before Christmas, following the positive lead from Wall Street

U.S. Markets

The three main U.S. stock indexes rose as bank and energy stocks climbed and on a continuing boost from the U.S. tax overhaul passed by Congress earlier this week.

Today's News

BHP Billiton said that it will fund up to $181.0m in support for the Renova Foundation and Samarco Mineraco SA until June 30, 2018. The company said $133.0m will go towards the Renova Foundation for remediation and compensation programs agreed by Samarco, Vale SA, BHP Billiton Brasil LTDA and Brazilian authorities in March 2016. The payment relates to the restoration of the environment and communities after the Samarco dam failure in November 2015, the company said.

 

Separatist parties in the Spanish region of Catalonia are set to win an overall majority in regional elections, the electoral commission announced late Thursday, with more than 90% of votes counted. The three political groupings that make up the Catalan parliament’s separatist wing are set to win 70 seats in total, with 68 required for an absolute majority in the 135-seat regional parliament.

 

Carillion’s lenders have agreed to defer the test date for its financial covenants from 31 Dec to 30 Apr. And it said talks with stakeholders regarding its options to reduce net debt and recapitalise and/or restructure the balance sheet were progressing well It said the board still expected to determine the approach and to commence steps to implement the chosen option during the first quarter of 2018. Interim chief executive Keith Cochrane said: ‘We believe that our lenders’ decision to defer the test date demonstrates their continuing support.

 

Ladbrokes Coral has agreed to be bought by online rival GVC in a deal worth up to £4bn. Under the deal, shareholders in GVC – which owns the Bwin, Sportingbet and Foxy Bingo brands – will hold 53.5% of the combined group. Ladbrokes Coral became the UK’s biggest High Street bookmaker following last year’s merger of Ladbrokes and Coral. GVC chief executive Kenneth Alexander described the takeover deal as “a truly exciting prospect”.

 

Gold held below a two-week high in thin pre-holiday trade amid a firmer dollar, but were on track to log a second consecutive week of gains.

 

Oil Prices dipped away from 2015 highs reached the previous session, weighed down by rising U.S. output and the expected January re-opening of the Forties pipeline in the North Sea.

Companies Reporting this week

Day Companies
Tomorrow: No Companies Reporting

Early Market Movements

Market Index Change % Change
UK 100 7,605.6 +1.7 +0.0%
UK 250 20,444.9 +22.2 +0.1%
GER 30 13,080.7 -29.0 -0.2%
FRA 40 5,375.0 -10.9 -0.2%
U.S. 30 24,782.29 +55.64 +0.2%
U.S. 500 2,684.6 +5.3 +0.2%
OIL (BRENT) 64.84 -0.06 -0.1%
GOLD 1,268.01 +1.41 +0.1%

UK Risers & Fallers (8:15am)

Company Price Change % Change
Ferguson 5510 +125 +2.3%
Kaz Minerals 836.5 +16.5 +2.0%
Next 4490 +75 +1.7%
Mediclinic 608.5 -21.5 -3.4%
Allied Mind 146.25 -4.5 -3.0%
Barclays 202 -2.55 -1.3%

Latest Broker Views

Company Broker Recommendation Price Target
None of Note

Forthcoming Economic Data

Time/Date Previous Forecast Outcome
10:30am: U.K. Current Account -23.2bn -21.5bn
10:30am: U.K. Final GDP q/q 0.4% 0.4%
2:30pm: U.S. Core Durable Goods Orders m/m 0.9% 0.5%

 

 

 

Sources

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513928480816504900.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1513923686086251900.html

 

http://www.stockmarketwire.com/article/5792680/Carillion-covenant-test-date-deferred.html

 

http://www.bbc.co.uk/news/business-42452945

 

https://uk.reuters.com/article/usa-stocks/us-stocks-wall-street-climbs-fueled-by-energy-and-financials-idUKL1N1OL1YP

 

http://www.nasdaq.com/article/asian-markets-modestly-higher-in-prechristmas-trading-20171221-01225

 

https://uk.reuters.com/article/uk-global-oil/oil-dips-from-highs-but-opecs-cuts-still-support-market-idUKKBN1EG06G

 

https://in.reuters.com/article/global-precious/gold-prices-hover-below-2-week-high-set-for-second-weekly-gain-idINKBN1EG04V

 

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