Thursday, March 31, 2016

MARKET UPDATE 31/03/2016

The FTSE 100 is called to open 8 points lower at 6195.
UK Gilt 10 Year Yield 1.4343%, Spot Gold $1228.35 +2.95 Brent Crude $39.64 -0.45
$ per £ 1.4342
$ per € 1.1315
€ per £ 1.2675

U.S. stocks rose, extending to the highest levels this year, as central bankers continued to spur optimism amid assurances that they will act to stave off a global downturn. The Standard & Poor’s 500 Index climbed for a third day after yesterday posting the strongest increase in two weeks as Federal Reserve Chair Janet Yellen signaled officials will be cautious in raising interest rates due to heightened economic risks overseas. The dollar headed for its steepest monthly drop since 2010. Apple Inc. rallied to a three-month high, boosting technology shares, while banks rose for the first time in six days. The S&P 500 added 0.4 percent to 2,063.95, pushing its 2016 gain to 1 percent. The Dow Jones Industrial Average climbed 83.55 points, or 0.5 percent, to 17,716.66. The Nasdaq Composite Index increased 0.5 percent to close above its average price during the past 200 days for the first time this year. About 6.6 billion shares traded hands on U.S. exchanges, 22 percent below the 2016 daily average.

PRESS COMMENTARY

More US initial public offerings collapsed than succeeded in the first quarter of 2016 as the ferocity of this year’s stock market tumble hit many companies’ hopes of coming to market, FT.

COMPANY NEWS  

Orange SA and Bouygues SA are heading into a make-or-break weekend as they try to salvage their wireless- phone merger plan, after acknowledging that talks had not advanced sufficiently to clinch a deal.

TUI said that both bookings and revenue for Summer 2016 are ahead of last year so far, and backed its full-year guidance for underlying Ebita growth of at least 10%.

Valeant Pharmaceuticals International Inc. said it was seeking more room from lenders to stave off a potential default. But stock investors were unnerved, as Valeant inched back from earlier assurances about its ability to hit financial targets required by its lenders.

Panmure Gordon & Co. PLC (PMR.LN) said 2015 was a disappointing year for its primary markets activities as it swung to a full year pretax loss.

Wincanton Says Trading Continues to Be in Line With Views

Booker Group PLC (BOK.LN) said like-for-like sales fell 2.5% for the 12 weeks ended March 25, compared with a 6.1% drop a year earlier, impacted by deflation in food prices and weak consumer demand, but said profit for the full year remains in line with expectations.

Boeing Co. said that it planned to cut more than 4,500 jobs by June, as the company accelerates cost-cutting efforts in an effort to keep pace with customers demanding less expensive jetliners.

Wendel Says Has Already Met 2013-2017 Targets

Speedy Hire PLC (SDY.LN) said it expects adjusted pretax profit for fiscal 2016 ending March 31 to be in line with market expectations and net debt broadly in line with the previous year-end.

 

Maersk’s APM Terminals unit will invest EU758m in a second terminal in Tangier, which will have annual capacity of 5 mln TEUs. Source Quilter Cheviot

More Financial Information here 



 

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