Market Update 4th March 2016

The FTSE 100 is called to open 28 points higher at 6158

UK Gilt 10 Year Yield 1.4306%, Spot Gold $1261.25 -3.25 Brent Crude $37.31 +0.14

$ per £ 1.4170

$ per € 1.0949

€ per £ 1.2941

U.S. stocks rose, led by gains in energy shares to extend a three-week rally before Friday’s payrolls report that may provide a clearer picture on the economy’s health and path for interest rates. Energy producers in the S&P’s 500 Index erased 2016 declines as a rally in the group helped equities shake off earlier weakness for a second day. Banks also gained momentum in the afternoon, rising for the fifth time in six days. Health- care and technology shares struggled, with Microsoft Corp. losing 1.1 percent. Kroger Co. sank 7 percent after the grocer forecast slower growth this year. The S&P 500 rose 0.4 percent to 1,993.40, erasing a 0.5 percent drop to remain at an eight-week high. The gauge gained for a third straight day for just the second time this year. The Dow Jones Industrial Average advanced 44.58 points, or 0.3 percent, to 16,943.90, and the Nasdaq Composite Index increased 0.1 percent. The Russell 2000 Index of small caps added 1 percent to rise for a third day. About 8.8 billion shares traded hands on U.S. exchanges, in line with the 2016 average.

PRESS COMMENTARY

The UK is set for another year of record low interest rates, economists have predicted, following news that the dominant services sector suffered a sharp slowdown last month, Guardian.

 COMPANY NEWS  

WPP PLC, reported net profit rose in 2015 despite strong currency headwinds in the second half of the year.

BHP Billiton Ltd.’s credit rating was cut two levels by Moody’s Investors Service as lower commodity prices are set to weigh on the world’s biggest mining company’s earnings even after it cut its dividend and spending.

Adidas AG to Open 3,000 New Stores in China by 2020.

Alliance Trust PLC (ATST.LN) reported a rise in full-year net asset value per share, and said that it remains on track to achieve its cost-cutting targets.

Andritz 4Q Sales, Ebitda Beat Estimates; Plans EU1.35 Dividend

EasyJet Carried 4.93M Passengers in Feb 2016 Vs 4.49M

London Stock Exchange Group PLC (LSE.LN) reported a 85% rise in full-year net profit on growth in revenue from capital markets and other areas. May Have 11% Upside If a Bidding War Breaks Out: Survey.

Dart Group PLC (DTG.LN), a leisure travel and logistics company, said that operating profit for the year ending March 31 will be slightly ahead of current market estimates due to lower than anticipated winter losses.

Capital & Regional PLC (CAL.LN) reported a 45% rise in pretax profit for 2015 and a trebled dividend, and said it has bought Edmonds Parade in Hemel Hempstead for 10.5 million pounds ($14.6 million)

Source Quilter Cheviot

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