UK/Euro Financial Market Daily Morning Briefing – UK/Euro Financial Market Daily Morning Briefing
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A daily snapshot of the UK, French, German and Dutch markets just after the market open. Including a diary of key financial events across the UK and a summary of U.S after market close. Click here to receive or daily bulletins. News provided by AFX/Associated Press.
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UK/Euro Financial Market Daily Morning Briefing 13-07-2007
07/13/2007
| ADVFN III | Evening Euro Markets Bulletin | | Daily world financial news from Thomson Financial News | Supplied by advfn.com |
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London |
Shares up in early trade after strong gains in New York and Asia UK blue chips pushed higher in early deals, extending yesterday's gains following a record close in New York overnight, as investors cheered reassuring retail sales and mining M&A news, and after big advances today in Asia. At 8.17 am, the FTSE 100 index was 35 points firmer at 6,732.7, with all the broader indices higher. Early volume was solid, with 109.1 mln shares changing hands in 18,556 deals. Overnight, stocks on Wall Street soared, catapulting the DJIA over 2 pct, or 283.86 points, to a record close of 13,861.73 points. The blue chip index marked its biggest one-day percentage gain since Oct 2003 and the biggest one-day point gain since Oct 2002. The S&P 500 index also surged to a record closing finish, up 28.94 points, or 1.91 pct, to 1,547.70 points, while the tech-rich Nasdaq composite jumped 49.94 points, or 1.88 pct, to a robust finish of 2,701.73. Traders erupted into boisterous cheers on the floor of the New York Stock Exchange at the close of the markets, which were buoyed by retail sales news and fresh deal making as Anglo-Australian miner Rio Tinto unveiled its 38.1 bln usd takeover offer for Alcan, trumping US rival Alcoa in a mammoth bid to create the world's largest aluminium company.
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Though retail sales generally appeared to be crimped last month by higher gasoline prices and a tepid housing market, and the outlook for the coming months was difficult to ascertain, the overall reading wasn't as dour as some investors expected. Several reports beat market expectations -- notably that of Wal-Mart Stores, the world's largest retailer, which posted a better-than-expected 2.4 pct jump in sales at stores open at least a year. Today in Asia, the mood was also bright. The Nikkei 225 closed 254.81 points, or 1.42 pct, higher at 18,238.95, while the Hang Seng Index at midday was 274.07 points firmer at 23,083.09. Oil prices were narrowly mixed in Asian trade today but remained volatile in a market awash with investor funds amid anticipation of further increases, with continued strong demand for petrol during the peak summer driving season in the US also helping keep prices high New York's main oil futures contract, light sweet crude for August delivery, was 2 cents higher at 72.52 usd a barrel from 72.50 usd in late US trades yesterday. In London, there was strength across the board following yesterday's stratospheric gains from the mining sector, with Man Group the top blue-chip gainer, up 12-1/2 pence to 629, following yesterday's strong first-quarter trading update and healthy outlook for the full year. Strength in Experian was another early feature, up 9 pence at 625, on the back of its in-line trading statement yesterday.
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UK Diary of Events For a diary of key financial and corporate events in the UK this week, click here US Summary For a summmary of US stocks at yesterday's close of trade, click here Milan Main indices Mibtel at 33,276, up 0.33 pct S&P/Mib at 42,329, up 0.45 pct Main S&P/Mib losers: Tenaris down 2.17 pct at 18.82 eur after Credit Suisse downgraded to 'underperform' from 'neutral' and advised switch from Tenaris to SSAB or Vallourec within the steel sector. Main S&P/Mib gainers: Italcementi was up 1.32 pct at 22.33 eur, on positive sentiment in the construction sector. Impregilo rose 1.05 pct to 6.15 as reports say a board meeting today could replace current CEO. Intesa Sanpaolo was up 0.84 pct at 5.40 eur. Reports say the bank is close to finalizing the acquisition of Carifirenze. Fiat was up 0.46 pct at 23.82 eur following upbeat EU car data showing Fiat's sales up 9.9 pct on the year. Finmeccanica was up 0.73 pct at 23.36 pct on reports it is interested in acquiring UK's Qinetiq Vienna Main Indices ATX up 0.01 pct or 0.44 points at 4,918.62 ATX Prime up 0.21 pct or 5.21 points at 2,454.04 Main Gainers Raiffeisen Intl up 1.23 pct at 120.01 eur, as part of upswing in European banking shares Andritz up 1.19 pct at 53.63 eur, on raised investor interest following road show BWIN up 1.04 pct at 23.39 eur, on bargain hunting A-TEC Industries up 0.95 pct at 191.80 eur, as A-TEC says it will retain or even raise stake in Cumerio Flughafen Wien up 0.81 pct at 75.00 eur Main Decliners Intercell down 4.42 pct at 27.00 eur, on downgrade to 'sell' at Goldman Sachs voestalpine down 1.15 pct at 65.35 eur, on profit-taking following 5.44 pct gain yesterday Verbund down 0.43 pct at 37.14 eur Zumtobel down 0.41 pct at 29.03 eur Erste Bank down 0.23 pct at 57.35 eur
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Brussels |
EVS jumps Main index
Bel 20 at 4,656.46, up 16.89 points or 0.36 pct Bel 20 gainers Dexia rises 0.23 eur or 0.99 pct to 23.40 Belgacom up 0.31 eur or 0.96 pct at 32.61 Umicore gains 1.43 eur or 0.82 pct to 176.01 Bel 20 losers Omega Pharma 0.43 eur or 0.64 pct lower at 66.66 UCB off 0.14 eur or 0.34 pct at 41.34, launched minority buyout offer for German peer Schwarz Pharma AG. Outside the Bel 20 EVS jumps 2.58 eur or 4.18 pct to 64.33 on strong Q2 sales, target raised to 75 eur from 64 at Petercam, 'buy' rating reiterated Copenhagen AP Moller-Maersk, DS Norden higher Major indices OMXC20 up 2.90 points at 506.10 OMXCB up 2.42 points at 485.54 OMXC up 2.38 points at 495.84 Turnover - 1.37 bln dkr Major gainers AP Moller-Maersk A up 800 dkr at 72,100 and B up 700 at 73,700 after new gains for Asian shipping peers DS Norden up 9 at 424, also lifted by Asian shipping peers' rises Novo Nordisk up 3 at 596. Goldman Sachs raised its target to 570 dkr from 550 on a reiterated 'sell' Lundbeck up 1 at 142. Goldman Sachs raised its target to 135 dkr from 130 on an unchanged 'neutral' Major losers GN Store Nord down 0.5 at 66. Phonak could initiate a share buyback as one way to use its cash if its acquisition of GN Store Nord's Resound unit falls through, its CEO said
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Amsterdam |
MAJOR INDICES
AEX 561.24, up 0.20 pct AMX Midcap 765.17, up 0.32 pct Government bonds lower MAJOR GAINERS ASML rises 2.29 pct to 20.93 Hagemeyer up 2.15 pct at 4.27 following price target upgrade at ING, takeover speculation Corporate Express 0.91 pct higher at 11.09 ABN Amro 0.08 pct higher at 35.30 ahead of Supreme Court ruling on LaSalle sale Corio up 1.22 pct at 57.47 Tele Atlas 1.27 pct stronger at 16.71 Heijmans 1.09 pct firmer at 44.68 as construction sector is unaffected by disappointing Ballast Nedam results Pharming surges 8.97 pct to 3.28 eur after announcing EMEA approval of Rhucin production facilities MAJOR DECLINERS SBM Offshore dips 1.33 pct to 29.71 Royal Dutch Shell down 0.55 pct at 30.72 Fugro off 0.50 pct at 50.15 bWessanen loses 0.32 pct to 12.46 Ballast Nedam off 4.00 pct at 38.87 Paris mkt higher as telecoms see most volume CAC-40 index: Up 26.02 points or 0.43 pct at 6,129.07 32 stocks up 8 stocks down Major gainers: Schneider Electric, up 2.69 eur or 2.16 pct at 105.90, after an upgrade to 'buy' from 'hold' at Citigroup. EDF, up 1.29 eur or 1.69 pct at 77.45, as the French power distribution network confirmed that less than 900 residential users out of 25 mln have left EDF for other suppliers in the deregulated market. Axa, up 0.45 eur or 1.40 pct at 32.49 Major losers: L'Oreal, down 2.90 eur or 3.27 pct at 85.84, after reporting second quarter sales that were slightly below consensus. Danone, down 0.62 eur or 1.05 pct at 58.32, Capgemini, down 0.46 eur or 0.82 pct at 55.75 Most active stocks: Alcatel-Lucent, 2.75 mln shares, up 0.11 eur or 1.08 pct at 10.30 France Telecom, 2.37 mln shares, down 0.03 eur or 0.15 pct at 20.55 Vivendi, 2.22 mln shares; up 0.17 eur or 0.53 pct at 32.03
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Forex Rates |
London 0918 BST | Sydney 2.13 pm (0413 GMT) | US dollar | yen | 122.29 down from | 122.46 | sfr | 1.2030 down from | 1.2035 | Euro | usd | 1.3784 unchanged | 1.3784 | yen | 168.63 down from | 168.77 | sfr | 1.6585 down from | 1.6589 | stg | 0.6784 down from | 0.6793 | Sterling | usd | 2.0312 up from | 2.0291 | yen | 248.45 up from | 248.44 | sfr | 2.4438 up from | 2.4422 | Australian dollar | usd | 0.8687 up from | 0.8669 | stg | 0.4275 up from | 0.4273 | yen | 106.24 up from | 106.14 | |
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