(MENAFN- ProactiveInvestors - UK) 08:28
UK Market Snapshot
UK markets closed in the red on Friday, as investors cautiously awaited the inauguration of US President-elect Donald Trump. Miners, BHP Billiton and Anglo American lost 0.5% and 1.0%, respectively, while Ferrexpo and Vedanta Resources dropped 3.0%, each, tracking losses in metal prices. Bucking the trend, Synthomer surged 12.4, after the company forecasted upbeat profit for 2016 following better than expected performance in its Europe and North America business in the fourth quarter. Whitbread advanced 1.2%, after a leading broker upgraded its rating on the stock to 'Equal weight' from 'Underweight'. Close Brothers Group rose 0.8, after it gave a robust half yearly outlook and reported growth in its loan book boosted by strength in its banking division and higher trading income from its market-making business, Winterflood. The FTSE 100 declined 0.1%, to close at 7,198.4, while the FTSE 250 fell 0.4%, to settle at 18,150.8.
US Market Snapshot
US markets finished in positive territory on Friday, boosted by gains in consumer shares and energy sector firms. Skyworks Solutions soared 13.0%, after its results for the first quarter surpassed market estimates and it announced a new $500.0 million share buyback plan. Procter & Gamble climbed 3.3%, as it posted upbeat results for the second quarter and raised its outlook for for organic sales growth in 2017. On the flipside, Bristol-Myers Squibb plunged 11.3%, after the company announced that it would not pursue accelerated approval for a combination of two immunotherapy drugs as a treatment for newly diagnosed lung cancer. American Express shed 0.6%, as its earnings for the fourth quarter fell short of analysts' projections. The S & P 500 gained 0.3%, to settle at 2,271.3. The DJIA rose 0.5%, to settle at 19,827.3, while the NASDAQ advanced 0.3%, to close at 5,555.3.
Europe Market Snapshot
Other European markets finished higher on Friday, led by an advance in banking stocks. Banks, Deutsche Bank and Commerzbank gained 1.5% and 2.8%, respectively. TDC climbed 3.9%, amid news that Telia, down 0.7%, is considering a takeover bid for the company. Syngenta climbed 1.4%, after ChemChina stated that it had filed US antitrust approval with the Federal Trade Commission for its planned $43.0 billion acquisition of the former. LVMH Moet Hennessy Louis Vuitton edged 0.5% up, after reports that the company is close to buy around 10.0% stake in Marcolin. On the losing side, Edenred dropped 1.6%, after its second-largest shareholder, Colony Capital, sold its entire stake in the company. The FTSEurofirst 300 index gained marginally, to close at 1,432.4. Among other European markets, the German DAX Xetra 30 rose 0.3%, to close at 11,630.1, while the French CAC-40 advanced 0.2%, to settle at 4,850.7.
Asia Market Snapshot
Markets in Asia are trading mostly higher this morning, mirroring gains in the US equity markets on Friday. In Japan, auto exporters, Mitsubishi Motor, Honda Motor and Mazda Motor have declined 1.7%, 1.9% and 2.1%, respectively, amid a stronger Japanese Yen. On the contrary, tech giants, Konami Holdings, DeNA and Sumco have gained 0.2%, 0.6% and 1.0%, respectively. In Hong Kong, China Shenhua Energy has advanced 1.3%, after the company posted a rise in its year-on-year coal sales in December. However, other energy firms, CNOOC and Sinopec Oilfield Service have slipped 0.2% and 2.0%, respectively. In South Korea, index majors, POSCO and LG Electronics have dropped 0.6% and 0.9%, respectively. The Nikkei 225 index is trading 1.1% lower at 18,932.7. The Hang Seng index is trading 0.1% up at 22,899.0, while the Kospi index is trading marginally higher at 2,066.4.
Key Corporate Announcements Today
AGMs
easyHotel, Kimberly Enterprises NV, Redefine International Plc
EGMs
Datang International Power Generation Co Ltd.
Final Dividend Payment Date
Proactis Holdings
Interim Dividend Payment Date
Bonmarche Holdings
Trading Announcements
Petra Diamonds Ltd.(DI)
Key Corporate Announcements for Tomorrow
AGMs
Baring Emerging Europe, Edinburgh Worldwide Inv Trust, Keystone Inv Trust, Lowland Investment Co, Marston's, Mitchells & Butlers, Standard Life European Private Equity Trust, BMR Group
EGMs
Hellenic Telecom Industries SA ADS
Final Dividend Payment Date
Debenhams
Quarterly Ex-Dividend Date
Marsh & Mclennan Cos Inc.
Trading Announcements
Dixons Carphone, easyJet, Genel Energy
Commodity, Currency and Fixed Income Snapshots
Crude Oil
At 0430GMT today, Brent Crude Oil one month futures contract is trading 0.14% or $0.08 lower at $55.41 per barrel. On Friday, the contract climbed 2.46% or $1.33, to settle at $55.49 per barrel, amid hopes that a weekend meeting of top oil producers would verify compliance to a global output cut deal. Meanwhile, Baker Hughes reported that the total weekly US active oil drilling rigs jumped by 29 to 551 for the week ended 20 January 2017.
Gold
At 0430GMT today, Gold futures contract is trading 0.87% or $10.50 higher at $1215.40 per ounce. On Friday, the contract advanced 0.28% or $3.40, to settle at $1204.90 per ounce, as the greenback lost ground against its peers following uncertainty surrounding Donald Trump's economic policies.
Currency
At 0430GMT today, the EUR is trading 0.39% higher against the USD at $1.0741, ahead of the European Central Bank's President, Mario Draghi's speech, scheduled later today and the Euro-zone's consumer confidence index for January, set to release in a few hours. On Friday, the EUR strengthened 0.34% versus the USD, to close at $1.0699, after German producer price index rose in line with market expectations in December.
At 0430GMT today, the GBP is trading 0.37% higher against the USD at $1.2420. On Friday, the GBP rose 0.27% versus the USD, to close at $1.2374. In economic news, UK's retail sales dropped more than expected on a monthly basis in December. Meanwhile, the US Dollar weakened against a basket of currencies after Donal Trump's inaugural speech showed limited scope of executive actions and a lack of concrete policy reforms.
Fixed Income
In the US, treasury yields finished mixed. On Friday, yield on 10-year notes rose 1 basis point to 2.48%, while yield on 2-year notes fell 5 basis points to 1.2%. Meanwhile, 30-year bond yield rose 1 basis point to 3.05%.
Key Economic News
UK retail sales advanced less than expected in December
On a YoY basis, in the UK, retail sales advanced 4.30% in December, compared to a revised rise of 5.70% in the previous month. Markets were expecting retail sales to climb 7.20%.
UK retail sales dropped more than expected in December
On a MoM basis, retail sales fell 1.90% in December, in the UK, more than market expectations for a drop of 0.10%. In the prior month, retail sales had fallen by a revised 0.10%.
German PPI advanced as expected in December
On a monthly basis, the producer price index (PPI) rose 0.40% in Germany, in December, in line with market expectations. The PPI had registered a rise of 0.30% in the previous month.
German PPI rose as expected in December
In Germany, the PPI climbed 1.00% on a YoY basis in December, meeting market expectations. In the prior month, the PPI had recorded a rise of 0.10%.
Canadian CPI rose less than expected in December
The consumer price index (CPI) recorded a rise of 1.50% in Canada on a YoY basis in December, compared to an advance of 1.20% in the prior month. Market anticipation was for the CPI to advance 1.70%.
Canadian core CPI recorded a rise in December
The seasonally adjusted core CPI advanced 0.20% on a MoM basis, in December, in Canada. Core CPI had recorded an unchanged reading in the previous month.
Canadian CPI registered a rise in December
The seasonally adjusted CPI in Canada rose 0.30% in December on a monthly basis. CPI had fallen 0.20% in the prior month.
Canadian core CPI rose more than expected in December
On an annual basis, the core CPI recorded a rise of 1.80% in December, in Canada, more than market expectations for an advance of 1.70%. The core CPI had climbed 1.50% in the previous month.
Canadian retail sales rose less than expected in November
Retail sales rose 0.20% on a monthly basis in November, in Canada, compared to a revised rise of 1.20% in the previous month. Market anticipation was for retail sales to rise 0.50%.
Canadian core CPI declined more than expected in December
The core CPI dropped 0.40% on a monthly basis in Canada, in December, higher than market expectations for a fall of 0.20%. In the prior month, the core CPI had registered a drop of 0.50%.
Canadian CPI unexpectedly dropped in December
The CPI in Canada unexpectedly dropped by, on MoM basis, to a level of 128.40 in December, compared to market expectations of 128.70. In the previous month, the CPI had recorded a level of 128.60.
Canadian CPI surprisingly fell in December
The CPI unexpectedly fell 0.20% on a monthly basis in December, in Canada, compared to a drop of 0.40% in the prior month. Market anticipation was for the CPI to remain unchanged.
Canadian retail sales (ex-autos) surprisingly advanced in November
On a monthly basis, in November, retail sales (ex-autos) unexpectedly advanced 0.10% in Canada, more than market expectations for an unchanged reading. In the prior month, retail sales (ex-autos) had risen 1.40%.
Japanese convenience store sales climbed in December
On an annual basis, convenience store sales recorded a rise of 0.50% in December, in Japan. In the previous month, convenience store sales had registered a similar rise.
Japanese Tokyo department store sales dropped in December
In December, on an annual basis, Tokyo department store sales in Japan slid 1.00%. Tokyo department store sales had dropped 1.40% in the prior month.
Japanese nationwide department store sales fell in December
On an annual basis, nationwide department store sales slid 1.70% in Japan, in December. In the prior month, nationwide department store sales had fallen 2.40%.