Monday, March 21, 2016

FINANCIAL MARKETS UPDATE 21 March 2016

The FTSE 100 is called to open 22 points lower at 6167.

UK Gilt 10 Year Yield 1.4485%, Spot Gold $1243.15 -12.20 Brent Crude $41.35 -0.30
$ per £ 1.4422
$ per € 1.1258
€ per £ 1.2811

U.S. stocks rose, with the S&P’s 500 Index turning positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November. The equity benchmark joined the Dow Jones to advance for the year, staging one of the biggest turnarounds in history. The Dow surged 12 percent in 24 days through Thursday, boosted by seven separate daily advances exceeding 1 percent. It’s a stunning comeback from what was the worst-ever start to a year, with stocks pushed over the top as the Fed this week signaled a slower pace of interest-rate increases. The S&P 500 added 0.4 percent to 2,049.58 and is now up 0.3 percent this year after falling as much as 11 percent. The Dow climbed 120.81 points, or 0.7 percent, to 17,602.30, extending its 2016 increase to 1 percent. The Nasdaq Composite Index advanced 0.4 percent, trimming its decline since the end of 2015 to 4.2 percent from almost 15 percent. Trading volume in U.S. equities was boosted Friday by a quarterly event known as quadruple witching, when futures and options contracts on indexes and individual stocks expire. About 11 billion shares traded hands on U.S. exchanges, 25 percent above the 2016 average.
PRESS COMMENTARY
The UK’s biggest institutional investors are to demandFTSE 100 companies stop quarterly reporting as part of a radical shake-up of how shareholders interact with their investments.
Crispin Odey, the outspoken London hedge fund manager, made a 22% loss in his €1 billion Odey European fund in the first two weeks of March as a number of big bets went against him, FT.
Ten great share tips for your ISA - James Halstead, Ricardo, Cranswick, James Fisher & Sons, Carr’s Group, Portmeirion, Avon Rubber, WS Atkins, Yound & Co’s Brewery, British American Tobacco, Telegraph (Questor share tips).
COMPANY NEWS  
CVS Group PLC (CVSG.LN) Monday reported a 17% fall in pretax profit for the first half of fiscal 2016 after booking extra costs and despite a higher revenue, and said comparable sales growth for January and February has improved slightly, in line with expectations.
After losing the battle for Syngenta AG, Monsanto Co. has explored possible deals with BASF SE and Bayer AG of Germany as the U.S. seed company seeks to bolster its position amid industry consolidation.
Pets At Home Group PLC (PETS.LN) has appointed Ian Kellett as Chief Executive Officer from April 4, following the resignation of Nick Wood.
BT in Discussions With TalkTalk Over YouView Control.
Deutsche Boerse Plans German ‘AIM’ Market, Kengeter Tells FT.
Smiths in Talks to Buy Safran’s Morpho Detection Unit.
Cape PLC (CIU.LN) said it has secured a three year extension to its contract with SABIC U.K. Petrochemicals Ltd.
Inland Homes PLC (INL.LN) reported a massive rise in pretax profit for the first half of fiscal 2016, and said it is confident it will continue to deliver further value to shareholders over the coming year despite the volatility in the financial markets. Source Quilter Cheviot

 



 

No comments:

Post a Comment