FTSE 100 is closed lower
Wall Street also shares
it is expected that interest rates will remain unchanged tomorrow
FTSE 100 made up some losses, but closed a shadow in the red, ahead of tomorrow's monetary policy.
The British index of leading shares closed around 7,773 points.
Conversely, the FTSE 250 was higher, with about 77 points to 19,073.
Market analyst David Madden, on CMC Markets, summed it up as follows: "It was a matt session, partly because of the lack of major macroeconomic news.
"Some traders took the opportunity to cash in some money, European stock markets saw several months high yesterday and today investors are on their hands. It seems almost as if dealers are looking for positive news to justify the positive run."
The biggest laggards was online supermarket business (), which lost more than 6% to $ 968.40, while a volatile week was continued for the group. There has been a big fire in his warehouse in Hampshire, which accounts for 10% of the capacity.
In the US, the Dow Jones Industrial Average has fallen by around 30 points, while the S & P 500 is around eight at the time of writing.
3.45 pm: Traders in waiting mode
In anticipation of the interest rate decision and the quarterly inflation report tomorrow, the leading shares of London were largely time-consuming.
The FTSE 100 decreased by 11 points (0.2%) to 7,166.
"Deteriorating economic data and increasing political uncertainty mean that it is unlikely that we will soon get an interest rate hike – although the recent strength in wage growth means a step later in 2019, should not be completely ruled out," predicted James Smith, an economist on developed markets at ING.
"Economic data is worsening and growth is likely to continue to stagnate in the first quarter (or possibly stagnate completely) as business and consumer cautiousness increases," Smith commented.
"2019 looks like a pretty good year for inflation, the impact of the post-Brexit dive of the pound is largely offset by the annual figures, and in the short term, nominal interest rates can remain modestly sticky if oil prices continue to rise, as do us. resource team predicts, anyway, we expect the headlines [consumer prices inflation] to end the year below 2%. Thereafter, higher wage growth should increase the pressure on core prices, although this depends on companies that have sufficient pricing power to pass these costs on. This may not always be the case in the current challenging consumer environment, "Smith said.
2.40 pm: US benchmarks open lower
The index of British blue chips withdrew after American benchmarks had been moderately lower.
The FTSE 100 fell by 25 points (0.4%) to 7.152.
In the United States, the Dow Jones index fell 40 points to 25,372, while the S & P 500 came to 2,733 out of 4 points (0.2%).
Away from the big caps, the graphene-based product developer () added about a tenth to its market capitalization after it announced it had been named the newest member of the Industry Council of the US National Graphene Association.
(LON: RDX) received an injection in the form of a repayment of a loan that it made and that was previously written off in its accounts, giving it an almost £ 870,000 boost in working capital.
The shares were 8% higher at 6.75p, giving the company a market capitalization of almost £ 8m.
1.30 pm: British blue cards indicate the time
It was expected that the Wall Street shares would be lower after what President Trump thought yesterday was a faint "State of the Union" address.
Scattered betting odds suggest that the Dow Jones will open about 23 points lower at 25,389, while the broader S & P 500 was tipped to lose about six points at 2,732.
The Dow Jones Industrial Average seems to be on a lower level this morning after Donald Trump's State of the Union address, but the mornings have not been a big deal lately.
Dow futures … https://t.co/hBjdl7MPwh
– HSquared (@lobstergawd) February 6, 2019
In the United Kingdom it was a distance between the bears and the bulls, with the FTSE 100 two points lower than 7.176.
The FTSE 250 made a better fist of things and rose by 79 points to 19.075, helped by a positive response to the trading update from the supplier of electronic components, PLC ().
The shares rose 6.1% at 587.6 pence, but Robin Speakman of Shore Capital did not seem satisfied.
"Trading has slowed, as expected by our prediction model, but to a greater extent than we expected," the analyst said, reiterating his & # 39; sales & # 39; recommendation.
12.15: Glaxo rises after the expectations of the top line
The Footsie made a short trip to the positive area before returning to his station just under the closing of last night.
The FTSE 100 fell by 8 points to 7,170 and rose to 7,183 shortly after noon.
"It's going to be a boring day for financial markets with stocks around the world struggling to give direction because of a lack of fresh catalysts," said Lukman Otunuga, a research analyst at FXTM.
"Investors who were expecting fireworks and action from the president of the American state Donald Trump were left empty-handed after nothing new was brought to the table," Otunuga remarked.
"Brexit uncertainty and growing pessimism about Theresa May's ability to secure further EU concessions continues to weigh in. Now that the European Union has already stated that the withdrawal agreement is not" open for renegotiation " ;, it is interesting to see what the prime minister achieved with her trip to Brussels, & # 39; dared the analyst.
The markets in the US are expected to be modestly lower.
In the UK and indeed on the other side of the pond (), () published its results just after noon, which led to interest in the stock, which has now increased by 0.5% to 1,530.8 p.
GlaxoSmithKline beats with £ 0.03, beats on revenue https://t.co/PFxFcI87qU $ GSK
– The stock family (@stock_family) February 6, 2019
"Global pharmaceutical group GlaxoSmithKline today exceeded expectations with its Q4 figures, sales up 7% to £ 8.2 billion and operating profit tripled from £ 512m to £ 1.6bn, with sales of £ 784m in his new shingles vaccine, Shingrix, and reported good progress in building his pipeline of new drugs, especially in oncology, where it's 16 in development, "said Ian Forrest, an investment research analyst. Centre.
"The last quarterly dividend of 23 p makes 80 p for the year and the company promised to repeat it altogether in 2019, despite the fact that revenue is expected to decline by 5-9% at constant exchange rates, mainly due to the expected impact of the recent approval of a generic version of the asthma treatment Advair and the purchase of US biopharma group worth $ 5.1 billion in December.
"The shares reacted positively to the results after being scaled back somewhat before they were released, although the fourth quarter results show better than expected performance and the main drug pipeline is growing well, the forecast for 2019 was clearly cautious in terms of The obligation to match this year's dividend is therefore very important and we will continue to follow our buy & # 39; recommendation for investors who are looking for income and are willing to accept a lower level of risk, & # 39, Forrest said.
10.45 am: FTSE 100 recovers the most losses
The FTSE 100 has recouped almost all its losses despite a decrease of 7.3% for PLC () in the wake of its warehouse fire.
The FTSE 100 fell 7 points to 7,171 with the specialist in grocery delivery technology that led the retreat after providing details on the size of the fire in the Andover warehouse.
Read Ocado shares drop because it indicates that fire in the Andover warehouse will hit the sales
The volatile week has continued, with the sharp profits of yesterday reversed amid a big fire in their warehouse. The warehouse accounts for 10% of the capacity, which is why we are probably talking about a significant disruption of profitability, both in lost cases and in reconstruction costs, "said Joshua Mahony.
After the news of the fire, it reduced its recommendation to hold & # 39; to & # 39; buy & # 39; and lowered its target price to 1000 p of 1700 p.
shares currently trade 959p.
– Lyndhurst Fire Stn (@ Lyndhurst48) February 6, 2019
In other broker news, RBC has downgraded utilities PLC () to underperformance & # 39; from & # 39; outperform & # 39; and has reduced the target price to 130p from 185p. shares fell by 4.4 p at 136.1 p and were the second worst players on the footsie.
Participating in and in the basement of the Footsie was travel firm (), after the target price had been lowered. TUI was 2.1% at 1.185.5p.
9.30 am: the restoration of Sterling cools the passion of investors for multinationals
The weakness of the pound was one of the reasons that the Footsie had risen yesterday, so the real rally of today has cooled the shareholder's passion for equities.
The FTSE 100 fell by 2651 down, despite the strength of home builders after a proper trading update of.
Barratt increased by 2.8%, while peer PLC (), PLC () and PLC () increased 1% sympathy.
"For all the fears around the Brexit that damage the housing market, housing developers continue to generate profits and distribute generous cash rewards to shareholders," Russ Mold commented.
"In particular, it has produced a series of half-year results that most companies would die for," he added.
Mid-cap outfit () also received a warm welcome for the first half of the figures.
"Average house prices have cooled and there is a lot of uncertainty about Brexit, but and Redrow has shown that the sector is still strong," said David Madden on CMC Markets.
Redrow's shares rose by 1.4% and were by no means the best performers on the FTSE 250; this accolade accrued to the owner of Clydesdale and Yorkshire Bank (), who shot 13.1% to 202.2 p after the 2019 banking group had prepared guidelines on the margins.
READ & # 39; s new owner CYBG comes to the conclusion that it improves the guidelines for 2019 margins
The FTSE 250, with fewer companies that depended on foreign sales (and therefore less charmed by a drop in the value of the pound sterling), rose by 18,014 points (18%).
8.20 am: weak start
After the explosive gains of yesterday, the FTSE 100 has predictably succumbed to a win last night.
The FTSE 100 fell by 21 points to 7.159.
PLC () and PLC () both defied the weaker trend, however, after issuing trade statements this morning.
Barratt was 1.7% higher and 0.5% for the good.
Proactive news headlines:
Milan-based () has been appointed as the newest member of the Industry Council of the US National Graphene Association.
() has said that a consortium of which it is part has received funding from the British Office for Low Emission Vehicles (OLEV) to develop petrol stations for electric vehicles.
Further drilling () Dalafin project in Eastern Senegal has indicated that gold mineralization on the goal of Medina Bafe continues at depth. Oriole holds a 85% stake in Dalafin, but the Canadian major IAMGOLD carries out the exploration and can acquire a 70% interest in the project for a US $ 7 mln.
Advantage Finance, the motor financing department of lender (), still produces record profits despite the harsher market conditions.
Non-executive director Deborah Frost has been unveiled as the new chief executive officer of the service provider for employees (). She will succeed Mark Scanlon, who expressed his intention to give up the performance in September.
Shefa Yamim (ATM) Ltd () has received a techno-economic evaluation (TEE) for Zone 1 of its Kishon Mid-Reach project that came to the bottom of the cost curve.
Korea-focused gold explorer. () has applied for a subsidy to pay 70% of a drilling program in his Kochang project. Bluebird said it was invited to apply for the grant by KORES, a company owned by the South Korean government that has already funded two programs in the Kochang area.
Limited () said that net attributable production increased by almost 47% for the six months to 31 December compared to the previous six months. The AIM-listed oil exploration, development and production company said the net allocable production was 6,476 barrels of oil equivalent (boe), an increase of 46.6% from the 4,417 boe in the six months ended June 30 2018.
Metal explorer () has received the latest analytical results from his drilling program from 2018 in his Kun Manie nickel copper project in Russia.
(LON: APF) (), the stock-listed royalty company of London and Toronto, recommends a 25% increase in the last quarterly dividend for 2018 to 3.125p, which would result in a total dividend for the year of 8p per share, around 14 % increase of the 7p per share paid in 2017. It said that a quarterly basic dividend level of 1.625p will be retained for 2019, with the final dividend to be determined upon announcement of the dividend for the fourth quarter of 2019.
Inc. (), the global cell-based drug and life sciences company, said yesterday that Panmure Gordon completed a placement of a total of 5,908,319 shares in the company at a price of 170p per share to raise a total of £ 10.0m, for costs , fees and commissions.
6.30 am: Softer start expected
The FTSE 100 is about to open slightly lower on Wednesday morning, because the weakness in the British economy in the run-up to the Brexit day next month weighed on sentiment.
Spread-betting company IG predicts that the FTSE 100 will open approximately 5 points lower after a bumper performance yesterday, which saw the index rise 143 points to 7.177.
Michael Hewson, the market analyst at CMC Markets UK, said there was "increased fear" from companies, while the Brexit day was approaching with little clarity about how an exit deal would look if Theresa May continues to struggle with Brussels.
"The activities in the UK … service sector have the lowest value since July 2016, the month after the Brexit referendum, because new orders have declined sharply."
"There seems to be little doubt that, although the British economy is slowing, it is not only in its sclerosis with Italy and France in front, with weaker data, while the German economy is struggling. it is bad for politicians on both sides of the Channel to play Russian roulette with the Brexit negotiations The EU has consistently stated that it believes that the UK has more to lose from a disordered Brexit, with both parties preparing for a no-deal scenario. "
"The risk of this type of calculation is that at a time when the financial system in Europe is anything but robust, the consequences of a no-deal Brexit could cause the roof to collapse at Europe's head, with serious consequences for the world economy. . "
On yesterday's American markets, investors were optimistic in the pre-Trump session of trade union representation and initially shook sales pressure on Google Mothers Inc. ().
The Dow Jones Industrial Average closed 172 points at 25,411, while the S & P 500 was 1337 points higher than 2,737 and the Nasdaq 54 points higher at 7,402.
In Asia, there was currently a dampened trade and little reaction to the state of the union on Chinese New Year's holidays closing the exchange in Hong Kong. The Japanese Nikkei 225 rose by 29 points at 20.874.
In the currency markets, the pound sterling was relatively stable at US $ 1,294 against the dollar due to the Brexit uncertainty.
Big Pharma is big news for Wednesday
Investors may take some stress medication on Wednesday, while drug giant GlaxoSmithKline reports the final results for 2018.
The launch of a generic rival for his Advair inhaler has expected many to lower his outlook.
Meanwhile, house builders Barratt and Redrow report their interims amidst a very gray-looking real estate market that is overshadowed by the shadow of the Brexit.
Significant announcements expected on Wednesday:
Finals: (Q4) ()
interims: PLC (), (), PLC ()
Trading updates: PLC (), (), (), PLC (), PLC (AGM) ()
Economic data: US JOLT jobs
Around the markets:
- Sterling: US $ 1,294, up 0.05%
- Brent crude oil: US $ 62 per barrel, an increase of 0.03%
- Gold: US $ 1,314.4 an ounce, a decrease of 0.1%
- Bitcoin: US $ 3,375, a decrease of 1.2%
- Financial times: & # 39; S board now focuses on a debt-for-equity swap in an ultimate attempt to save one of the UK's largest government contractors.
- Daily mail: Edward Bramson, corporate raider, who is fighting for a seat on the board of directors, will ask shareholders to make him a director at the lender's annual meeting in May.
- The times: Activity in the British services sector stalled and employment was cut last month due to the increasing political uncertainty, which brought the economy to a virtual standstill.
- The Guardian: has agreed to pay 10 years of arrears to France; according to reports, the figure is close to € 500 million.