Highlights of the Day

Asian Markets

Asian stocks traded mostly lower as the overnight bounce on Wall Street stalled. Recent concerns over trade tensions also persisted amid new China-U.S. trade developments.

U.S. Markets

The three major U.S. stock indexes ended higher after a choppy session as investors looked forward to earnings season while the U.S. 500 pushed above a key support level

Today's News

Beijing has vowed to retaliate after the United States published a list of about 1,300 Chinese products it plans to hit with a 25% tariff. The White House said the proposed extra tax on the imports was a response to unfair Chinese practices around intellectual property rights. The wide-ranging list includes items such as medical products, televisions and motorcycles. Beijing said it “strongly condemns and firmly opposes” the tariffs.

 

WPP is investigating an allegation of personal misconduct against its chief executive Sir Martin Sorrell. The world’s largest advertising agency said its board had appointed independent counsel to conduct the investigation. “The allegations do not involve amounts which are material to WPP,” the firm said in a statement on Tuesday. Mr Sorrell responded, saying he rejected any allegation of financial impropriety “unreservedly”.

 

Topps Tiles said first-half revenue had risen 2.6% after a recovery in sales in the first quarter was offset by harsh winter weather hurting sales in the second quarter. The company also warned that underlying market conditions had softened. Revenue for the 26 weeks through March rose to £109.4m, up from £106.6m a year earlier. Like-for-like revenues increased by 0.6%, after a 3.4% first quarter rise was offset by a 2.2% fall in the second quarter.

 

Ryanair and Wizz Air both said they saw rises in passenger numbers and load factor in March. Ryanair said customers rose 6% in March to 10.0 million from 9.4 million a year earlier, as load factor improved to 95% from 94% “on the back of lower fares”. Rolling annual traffic to March grew 9% to 130.3 million customers, the company said.

 

Entertainment One said it expects that the full year performance for the group to 31 March 2018 will be in line with management expectations amid strong underlying EBITDA performance. Reported revenues for the full year are anticipated to be around 50% higher than the prior year, with a similar trend in underlying EBITDA.

 

Gold Prices were steady in early trade as the dollar eased amid escalating trade tensions between the United States and China.

 

Oil Prices edged up, supported by a recovery in the equities market but Brent futures stayed well below $70 a barrel.

Companies Reporting this week

Day Companies
Monday: None of Note
Tuesday: None of Note
Wednesday: None of Note
Thursday: None of Note
Friday: None of Note

Early Market Movements

Market Index Change % Change
UK 100 7,036.9 +6.4 +0.1%
UK 250 19,384.4 -13.6 -0.1%
GER 30 12,002.2 -0.3 -0.0%
FRA 40 5,160.7 +8.6 +0.2%
U.S. 30 24,033.36 +389.17 +1.7%
U.S. 500 2,614.5 +32.6 +1.3%
OIL (BRENT) 67.83 -0.29 -0.4%
GOLD 1,335.86 +3.12 +0.2%

UK Risers & Fallers (8:15am)

Company Price Change % Change
Shire 3580.5 +73 +2.1%
Morrison (WM) 216.5 +4.2 +2.0%
BTG 667.75 +12.75 +2.0%
WPP 1084.5 -33 -2.0%
Mediclinic 561 -12.2 -2.2%
TalkTalk 112.35 -3.95 -3.4%

Latest Broker Views

Company Broker Recommendation Price Target
Glencore RPT/JPMorgan Overweight 356.25 550
BHP Billiton RBC Sector Perform 1408.4 1400
Phoenix Group Deutsche Bank Hold 766 827
Inmarsat Credit Suisse Outperform 346.3 610

Forthcoming Economic Data

Time/Date Previous Forecast Outcome
8.30am: U.K. Construction PMI 51.4 50.9
12.15pm: U.S. ADP Non-Farm Employment Change 235k 208k
2.00pm: U.S. ISM Non-Manufacturing PMI 59.5 59.0
2.30pm: U.S. Crude Oil Inventories 1.6m 1.4m

 

 

Sources

 

https://www.cnbc.com/2018/04/03/asia-markets-trade-concerns-tech-stocks-and-dollar-in-focus.html

 

https://www.reuters.com/article/us-usa-stocks/wall-street-closes-higher-as-sp-rises-above-key-support-level-idUSKCN1HA1G1

 

https://uk.reuters.com/article/us-global-oil/oil-edges-higher-with-wall-street-brent-well-below-70-idUKKCN1HA056

 

https://uk.reuters.com/article/global-precious/precious-gold-steady-as-china-u-s-trade-tensions-escalate-idUKL4N1RH0AT

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1522823192612471500.html

 

http://www.stockmarketwire.com/article/5918077/WPP-appoints-independent-council-to-investigate-alleged-CEO-misconduct.html

 

http://www.stockmarketwire.com/article/5918095/Entertainment-One-sees-performance-in-line-with-expectations-despite-fall-in-film-division-revenue.html

 

http://www.stockmarketwire.com/article/5918104/Topps-Tiles-revenue-growth-slows-amid-winter-storms-softening-market.html

 

http://www.bbc.co.uk/news/business-43632315

 

http://www.bbc.co.uk/news/business-43632765

 

 

Subscribe to our Award-winning Newsletter

We provide daily market data in the form of our award-winning newsletter, The Morning Call and The Market Close.
You can subscribe to this information at any time to help you make the most of your investment.

Quick Sign-up

Recommendations: Collins Sarri Statham Investments Ltd (CSS) does not in any of its publications take into account any particular recipient's investment objectives, financial situation, and specific needs and demands. Therefore, all CSS publications are, unless otherwise specifically stated, intended for informational and/or marketing purposes only.CSS shall not be responsible for any loss arising from any investment based on a perceived recommendation.

No publication (including recommendations) shall be construed as a representation or warranty that the recipient will profit, nor avoid sustaining losses, from trading in accordance with a trading strategy set forth in a publication.

Risk Warning: Trading in the products and services offered by Collins Sarri Statham Investments Ltd (CSS) may, result in losses as well as profits as the value of investments may go down as well as up. You may not get back the full amount you have invested.

Any reference to past performance should not be viewed as an indication of any future performance.

Investments held in overseas markets are subject to the effects of changes in exchange rates which will impact on the value of the underlying investment.

Investments made in AIM and penny shares carry an increased risk due to the difficulty in creating a market in these shares. There may be a substantial difference in the buy and sell price.

Leveraged products such as Contracts for Difference (CFDs), derivatives, commodities & Foreign Exchange (FX), carry a higher risk to your capital. They can lose their value rapidly and you may lose substantially more than your initial investment.

Speculative trading is not suitable for all investors: The information contained herein is based on materials and sources that we believe to be reliable however we make no representation or warranty, either express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. Please note that the figures shown may, in some instances, be rounded to the nearest penny. Prices can move sharply from those quoted in this document. Current prices can be verified by calling one of our brokers. CSS is under no obligation to update the information contained herein. Neither CSS, nor its affiliates, nor its employees shall have any liability whatsoever for any indirect or consequential loss or damage arising from the use of this document.

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three times per day during the week and up to once per day over the weekend and is directed at UK residents. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

Sending
No, thank you I am already subscribed