Highlights of the Day
Asian Markets
A rally in tech stocks led the Technology Index and U.S.500 to record highs. Investor sentiment was also boosted by the resumption of U.S.-Canada trade talks. |
U.S. Markets
Asian stock markets were mixed in early trading, though Japanese equities continued to power on toward an eighth straight day of gains. |
Today's News
France has signalled it is ready to cut a close post-Brexit EU deal with the UK, according to press reports. French President Emmanuel Macron aims to use an EU summit next month in Salzburg, Austria, to push for a new “alliance” between the bloc and Britain, The Times stated.
US President Donald Trump voiced optimism that a trade deal with Canada could be reached before his self-imposed Friday deadline, as representatives of the two countries were meeting in Washington for marathon talks.
Hays revealed double-digit annual profit growth led by strong performance in its rest of world business. For the 12 months to June 30, pre-tax profit increased 17% to £238.5m from £204.6m a year earlier, net fees increased 12% on both a headline basis and a like-for-like basis to £1.07bn from £954.6m a year earlier.
Hunting Group reinstated dividend payments after swinging to a first-half operating profit as rising oil prices supported strong US growth, although the company expressed concern over US tariffs on steel.
Australia-listed TPG Telecom and Vodafone Hutchinson Australia have agreed to merge to create a new fully integrated telecoms company worth $11bn, accelerating the benefits of the substantial network investments made by both firms.
IP Group said that its portfolio company Genomics had announced that Vertex Pharmaceuticals had led an oversubscribed £25.0m Series B financing round and signed a three-year collaboration agreement.
WH Smith expected its 2018 results for the 12 months ending 31 August to be in line with expectations, it said on Thursday, ahead of the reporting of its preliminary results on 11 October.
The Competition and Markets Authority has no concerns about the Scottish energy firm SSE’s proposed merger with Npower.
AstraZeneca said that the European Commission had approved a new formulation of the company’s type-2 diabetes treatment.
Oil Prices inched up, extending solid gains from the previous session on a fall in U.S. crude inventories and expected disruptions to supply from Iran and Venezuela.
Gold Prices held steady, after rising nearly half a percent in the previous session, as the dollar edged down, but views on higher U.S. interest rates limited gains.
Companies Reporting this week
Day |
Companies |
Monday: |
None of Note |
Tuesday: |
Bunzl |
Wednesday: |
Petrofac |
Thursday: |
Hays * WHSmith * Hunting Group |
Friday: |
Old Mutual |
Early Market Movements
Market |
Index |
Change |
% Change |
UK 100 |
7,538.6 |
-24.7 |
-0.3% |
UK 250 |
20,713.2 |
-23.6 |
-0.1% |
GER 30 |
12,519.3 |
-42.3 |
-0.3% |
FRA 40 |
5,492.9 |
-8.5 |
-0.2% |
US 30 |
26,124.57 |
+60.55 |
+0.2% |
U.S. 500 |
2,914.04 |
+16.52 |
+0.6% |
OIL (Crude) |
77.32 |
+0.18 |
+0.2% |
GOLD |
1,201.35 |
-5.25 |
-0.4% |
UK Risers & Fallers (8:15am)
Company |
Price |
Change |
% Change |
Mediclinic |
495.05 |
+3.05 |
+0.6% |
Halma |
1448 |
+5 |
+0.4% |
Unite Group |
883 |
+12.5 |
+1.4% |
Hammerson |
474.7 |
-17.7 |
-3.6% |
Pearson |
916 |
-21.6 |
-2.3% |
IWG |
227.65 |
-11.05 |
-4.6% |
Latest Broker Views
Company |
Price |
Change |
% Change |
Mediclinic |
495.05 |
+3.05 |
+0.6% |
Halma |
1448 |
+5 |
+0.4% |
Unite Group |
883 |
+12.5 |
+1.4% |
Hammerson |
474.7 |
-17.7 |
-3.6% |
Pearson |
916 |
-21.6 |
-2.3% |
IWG |
227.65 |
-11.05 |
-4.6% |
Forthcoming Economic Data
Time/Date |
Previous |
Forecast |
Outcome |
1.30pm: US Core PCE Price Index m/m |
0.1% |
0.2% |
– |
1.30pm: U.S. Personal Spending m/m |
0.4% |
0.4% |
– |
Sources
https://www.cnbc.com/2018/08/29/us-markets-us-canada-trade-talks-in-focus.html
https://www.marketwatch.com/story/nikkei-poised-to-extend-winning-streak-though-other-asian-markets-lag-2018-08-29
https://www.reuters.com/article/us-global-oil/oil-prices-edge-up-on-decline-in-u-s-fuel-inventories-looming-iran-sanctions-idUSKCN1LF03O
https://uk.reuters.com/article/global-precious/precious-gold-steady-as-dollar-dips-rate-hike-expectations-cap-gains-idUKL3N1VL0A7
http://www.stockmarketwire.com/article/6109047/AstraZenecas-improved-type-2-diabetes-treatment-gets-regulatory-nod.html
http://www.stockmarketwire.com/article/6109022/Hunting-Group-returns-to-the-black-in-H1-reinstates-dividend.html
http://www.stockmarketwire.com/article/6109020/Vodafone-announces-11bn-Australian-TPG-Vodafone-merger.html
http://www.stockmarketwire.com/article/6108966/IP-Groups-Genomics-announces-Vertex-leads-pound25m-financing.html
http://www.stockmarketwire.com/article/6108964/WH-Smith-expects-2018-results-in-line-with-expectations.html
http://www.stockmarketwire.com/article/6108955/Hays-profits-bolstered-by-strong-international-performance.html
https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1535607531521423600.html
https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1535608167501454500.html
https://www.bbc.co.uk/news/live/business-45319881