FTSE 100 Lower Little Moved By Gains In The US

FTSE 100 Lower Little Moved By Gains In The US
  • FTSE 100 closes
  • GSK falls after failed drug trials
  • IWG Submits Bid Reports for its Digital Division

4:50 pm: FTSE closes in the red

The FTSE 100 closed in the red, but US equities were mostly up on a quiet start to the week.

The main UK stock index rose 31 points, or 0.48%, to 7299 points.

The FTSE 250 fared better, adding 218 points, or 1.19%, to 18,559.

"After the last weeks of earnings reports and central bank decisions, the markets have calmed down, which gives hope for a decent rally. A hint of weakness could accelerate the rally." ," says Chris Beauchamp, chief market analyst for IG's e-commerce group.

3:45 pm: FTSE falls despite US victory.

As the close draws in, the London blue-chip index tumbles after a lackluster day in the US that didn't add much gain.

At 3:45 p.m., the FTSE 100 was down 29 points to 7306, although the FTSE 250 was in better mood, climbing 199 points to 18,541.

Shares of GSK PLC (LSE:GSK, NYSE:GSK) continued to fall, dropping 4.8% after a disappointing drug testing update, while shares of Centrica PLC (LSE:CNA) fell 3% amid renewed discussions about additional taxes.

Meanwhile, FraseRS Group PLC (LSE: RS1) jumped after it launched a £70m share buyback and Flutter Entertainment PLC (LSE: FLTR) led the market in the US decision. The United States is in a legal dispute with Fox.

3:20 pm: DS Smith strike could disrupt Amazon shipping

Workers at British shipping group DS Smith, whose Amazon customers voted overwhelmingly to strike over a wage dispute, their union said on Monday, jeopardizing Black Friday shipments.

Nearly 1,000 GMB union members at DS Smith, which also makes packaging for Brewdog, Diageo and McVities, are leaving after 93% of workers supported an industrial strike in a wage dispute.

Workers in five locations - Louth, Lincolnshire, Featherstone in Yorkshire, Clay Cross in Derbyshire, Davies in Wiltshire and Livingston in Scotland - could take part in the strike, which the union says could start at the end of the month. .

The union said the DS Smith strike could have "serious implications" for a host of names, including Amazon, who carry the company's packaging.

“We are disappointed to have voted for an industrial strike, especially at a critical time for all of our customers,” a spokesman for DS Smith said.

2:45 pm: The FTSE 100 was slightly affected by US earnings reports.

The FTSE 100 remained slightly lower after the US opened across the ocean and did not welcome a positive start.

By 2:45 p.m., the London blue-chip index was down 18 points to 7,317, although the domestic-focused FTSE 250 index fared better, climbing 268 points to 18,609.

In the US, stocks edged higher on Friday as investors looked forward to tomorrow's election.

After the market opened, the Dow Jones Industrial Average added 142 points, or 0.4%, to 32,545 points, Standard & Poor's rose 12 points, or 0.3%, to 3,783 points, and the Nasdaq Composite added 24 points, or 0 .2%, up to 10,496 points. .

In terms of big moves, Apple shares fell about 1.4% after reports that Foxconn will be shipping fewer iPhones following the COVID-19 outbreak at its iPhone assembly plant in China.

Meanwhile, Meta Platforms Inc (NASDAQ:FB) (Meta Platforms Inc (NASDAQ:FB)) received about 3.3% of reports that the social media giant will cut thousands of jobs.

2:30 pm: Global inflation close to peak - IMF chief

World price inflation may be approaching its peak, but the problem may remain, says the head of the International Monetary Fund.

Speaking at the COP27 climate change summit in the Egyptian resort of Sharm el-Sheikh, the managing director of the International Monetary Fund told Bloomberg TV: “I won't push the numbers, but I'll probably get to the bottom of it. Maximum. "

“Now we see that central banks are very united as a priority to fight inflation, and rightly so. If we don't get that, it will lead to destabilization and then undermine the foundation of growth, which is price stability."

The head of the International Monetary Fund warned that it would still be difficult for officials to bring inflation to a more acceptable pace.

"Inflation will be harder to bring down to the desired level of about 2%," he said.

2:00 pm: IWG processes bidding reports for its digital business.

Shares of IWG PLC (LSE: IWG) surged today after CVC Capital Partners announced its intention to buy its digital division The Instant Group.

Sky News reported that CVC, a private shareholder in Six Nations rugby, has approached Britain's largest service provider for a £1.5bn deal that could further split the club.

Banking sources said Tim Rodber, CEO of Instant Group, has been selling the business to a number of private equity firms in recent weeks after a series of unsolicited tactics.

Wells Fargo was invited to advise the IWG on possible arrangements.

If the deal was worth around £1.5bn, it would be higher than the current market value of IWG, whose shares have more than halved in the last 12 months.

Shares rose 33.6% after the release of the report.

12:40 pm: British families hardest hit - OECD

The UK is facing the worst cost-of-living crisis for the G7 countries as the pandemic and energy crisis hit domestic finances.

The Organization for Economic Co-operation and Development (OECD) reports that per capita household income fell by 3.5% between the end of 2019 and the second quarter of this year.

The 0.3% decline in France is 10 times larger and comparable to real income growth in Germany and the US.

However, they are also starting to feel the brunt of rising energy prices and other costs.

In all G7 countries except Germany, real income fell in the second quarter of this year as wages have not kept pace with accelerating inflation.

12:00 pm: US markets look higher

The FTSE 100 index has fallen slightly since lunch, but this afternoon it should receive support from the US, where markets are expected to open higher ahead of a busy week, including the midterms. in inflation

At 12:00 p.m., the main index was down 14 points to 7320 and the FTSE 250 was down 240 points to 18,582.

Dow Jones Industrial Average futures were up 0.5% in premarket trading, S&P 500 futures were up 0.6% and Nasdaq 100 futures were up 0.6%.

“The truth is… Joe Biden had a hard time,” said Ipek Ozkardiskaya, chief analyst at Swissquote bank.

"First the pandemic, then the war in Ukraine, the energy crisis, high inflation, high interest rates, turmoil in the financial markets, high mortgage rates, gas ... that's all. An amazing combination, I expect to see impressive support in this," he said. midterm elections added.

Thus, expectations for this week's midterm elections point to a split in government between the White House and Congress. In practice, he explained, this would lead to more political deadlock and a narrowing of the political space, while economic growth would slow down.

"But historical data tell us that the stock market has performed better under a divided government, with one party controlling the Senate, the House of Representatives, and the presidency."

In terms of economic data, US inflation is expected to ease to 8.0% by Thursday, while core inflation is expected to ease to 6.5% from 6.6% recorded the previous month.

“Stronger-than-expected inflation data could push global equities lower later this week. Thus, growth, if any, will be vulnerable to potentially bad U.S. inflation data on Thursday,” Ozkardskaya added.

"What if the data is better than expected? So we could see a rally in the market. Investors are looking to buy the dip at current levels. Even if the data is slightly better than expected, it should be enough to push the stock higher."

Last Friday, investors saw higher-than-expected farm employment data, and the US economy added 261,000 new jobs in October.

Also last week, US regulators raised rates by another 75 basis points, and US Federal Reserve Chairman Jerome Powell signaled that the fight against inflation cannot be complacent.

11:30 am: WizzAir and easyJet shares rise on improved RyanAir performance.

Ryanair reported a profit in the first half as the aviation sector recovers from cuts due to the pandemic.

The low-cost airline posted a €1.4bn (£1.2bn) profit in the six months to the end of September, after a net loss of €48m in the same period last year.

The move helped boost low-cost carriers Wizz Air Holdings PLC (TARGE: WIZZ) (to 7%) and easyJet PLC (to 2.8%).

Ryanair said it expects annual profits of between €1bn and €1.2bn, adding that it doesn't expect the cost of living to be affected by the crisis.

CEO Michael O'Leary expressed hope that the industry would avoid a repeat of last year's disruptions caused by the omicron variant he "damaged on such short notice last Christmas."

"Concerns about the impact of recession and rising consumer price inflation on Ryanair's business model are exaggerated," he added.

O'Leary said the airline is "expected to grow aggressively in a recession because consumers won't stop flying, but they will be price sensitive."

Ryanair said it carried 95 million passengers in the first half, up from 39 million a year earlier.

10:50 am: Gaming companies on the rise after the US decision.

Flutter Entertainment shares continued to be strong after winning Fox Corporation's lawsuit against FanDuel.

The betting group that owns Paddy Power and Betfair rose 3.5% to 11,915p following a court ruling that pointed to a current valuation of Flutter's US betting business at $22 billion.

Fox Corporation began litigation in April 2021, arguing that the 10-year option to acquire 18.6% of FanDuel should be at the same price as Flutter, which owns 37% of Fastball Holdings acquired in December 2020.

The deal was valued at $11.2 billion, but a US court set a fair market value of $20 billion plus a 5% annual book value adjustment.

Peel Hunt analysts said: “Flutter believes that the strike price for the Fox option should be based on FanDuel’s December 3, 2020 fair market value of approximately $20 billion (rather than the $11 billion we think Fox doesn’t want) ". "

Peel Hunt owns $19 billion in FanDuel shares.

The news also sent shares of gaming company Entain PLC LSE: ENT.

The FTSE 100 listed group operates BetMGM, a US joint venture with MGM Resorts.

9:48 a.m.: Another fall in house prices seen

According to analysts, today's fall in housing prices will not be the last.

“The housing market doesn’t always move in a straight line, but it is clearly developing a downtrend,” said Sara Coles, senior personal finance analyst at Hargreaves Lansdown.

“We are not close to a price cut yet, the annual growth is still 8.3%, but given that it has decreased from a peak of 12.5% ​​in June, it would be foolish to rule out a significant annual price decline over the next few years. . months."

"As mortgage rates eased slightly, mini-budgeting moves were cancelled, and Trussenomics became history, chaos ensued."

"Obviously the delay in the sale means we may not see a significant decline for some time, and a positive yearly rate may only be a few months away. But it's hard to look ahead and not see a correction in the property market as we approach 2023." . ”

Martin Beck, chief economic adviser at the EY ITEM Club, agreed: "The October downturn is likely to repeat itself in the coming months."

“While mortgage rates have fallen from high levels seen since the mini-budget, they are still high compared to early and mid-September,” he said.

He predicted that average property prices would fall further, although the decline would likely be limited to 5-10%.

9am: FTSE returns to early levels

The FTSE 100 recovered early losses and entered positive territory.

At 9 am, the main index rose one point to 7,336, while the FTSE 250 rose 75 points to 18,417.

Flutter Entertainment PLC (LSE: FLTR) continues to lead after defeating Fox Corporation in a lawsuit against FanDuel.

Phrases Group shares rose 4% after announcing plans to buy up to £70m (10m shares) of shares.

Fraser said it plans to cut its capital through a month-long buyback that is expected to end on Dec. 8, when the company plans to announce its half-year results.

On the other hand, GSK PLC (LSE:GSK, NYSE:GSK) topped the FTSE 100, losing ground after the pharmaceutical giant found that a late-stage review fell short of its main goal.

Blenrep is not considered better than the current standard of care for helping people with difficult-to-treat multiple myeloma, a type of bone marrow cancer.

GSK shares fell 2.84%, while GSK shares fell 2.84% and Kingfisher PLC (LSE:KGF) shares fell 2.4% after being downgraded by Credit Suisse, which downgraded its rating to neutral from profit premiums to the target level of 247%. price. (for 305r).

The Juul group's troubles persisted as the retailer said trading was weaker than expected and is in early talks with a number of strategic investors, including founder Tom Juul, to pump cash into the business.

The clothing retailer said total trading volume in the 11 weeks to October 30 was below the group's expectations.

“While the dress, menswear and formal categories performed well, key core categories such as outerwear, footwear and knitwear performed best. This is partly due to a milder than expected climate,” Jules said in a statement.

Shares fell 27% to 11.34.

Home builders had another weak point after the Halifax house price data.

Persimmon PLC (LSE: PSN), Taylor Wimpey PLC (LSE: TW), Barratt Developments PLC (LSE: BDEV) and Berkeley Group Holdings PLC (LSE: BKG) fell in early trading, and real estate website Rightmove was down. PLC. (LSE: RMV), also heading south.

08:15: FTSE 100 opens below

The London benchmark stock index started the week strongly, rebounding some solid gains on Friday after Chinese officials denounced speculation they would relax strict Covid rules.

At 08:15 am, the FTSE 100 was down 21 points to 7314, while the FTSE 250 was almost unchanged, down 3 points to 18,338.

“The FTSE 100 is trading lower this morning after losing hope that China will relax its strict tolerance for Covid by increasing the number of miners,” said Victoria Scolar, head of investment at Investor Interactive. Oil is also under pressure as gold falls from its highest level in three weeks.

Investors are also betting on recent reports of what will appear in the November 17 fall statement when Chancellor Jeremy Hunt announces spending cuts of at least £35bn with a £60bn tax hike from the package. 25 billion pounds.

Flutter Entertainment PLC (LSE: FLTR) has surged after winning a lawsuit with Fox Corporation over the latter's plans to acquire a stake in US gaming company FanDuel.

The court ruling confirmed FanDuel's assessment that Fox would have to pay if it decided to go ahead and get a share.

RS Group PLC (LSE: RS1) came into the spotlight when JP Morgan downgraded its rating to below neutral following the group's results last week.

He highlighted the weak macro outlook, the uncertainty surrounding the CEO's absence, and a preference for more defensive exposure to the sector.

In further signs that the housing market is under pressure, the latest data from Halifax showed that UK house prices are falling at the fastest pace since the start of last year in October.

The median home price fell 0.4% in October, the biggest drop in the Halifax index since February 2021 and after a 0.1% decline in September.

07:55: Sterling falls and recovers, euro rises against the pound

The pound fell almost 2% late last week as traders digested sharp increases in interest rates on both sides of the Atlantic, as well as mixed signals from the US labor market.

On the other hand, wages rose more than expected (0.4% vs. 0.3% expected to counter inflation fears, but the 3.7% unemployment rate also topped expectations of 3.6%).

Price action looks more subdued this morning with GBP/USD trading at $1131, about 15 pips higher than yesterday.

Next week will be relatively quiet on the economic calendar, but I hear the US midterm elections start tomorrow.

Учитывая инфляцию, один из главных вопросов, если не самый важный, может ли неожиданность республиканцев вызвать рост индекса доллара США?

GBP/USD: Приведет ли сюрприз Республики к падению фунта? - Источник: Capital.com
GBP/USD: Приведет ли сюрприз Республики к падению фунта? - Источник: Capital.com

посмотрим.

Что касается EUR/GBP, то пара торгуется на уровне 87,8 пенсов и, вероятно, преодолеет максимум 87,9 пенсов, зафиксированный 12 октября.

После сильного роста в конце прошлой недели пара EUR/USD немного откатилась; Паритет по-прежнему действует как опорная точка сопротивления.

В настоящее время пара торгуется на уровне $0,9928.

После пересмотра курса японской иены он, похоже, стабилизируется, поскольку доллар США не тестировал отметку в 150 иен в течение трех недель.

На момент написания пара USD/JPY торгуется на уровне 147,48.

07:52: цены на жилье в Великобритании падают быстрее всего с февраля 2021 года

Цены на жилье в Великобритании упали самыми быстрыми темпами с начала прошлого года в октябре, поскольку рынок был потрясен катастрофическими сокращениями бюджета Quasi Quarting.

По данным Строительной ассоциации Галифакса, средняя цена на жилье в октябре упала на 0,4%.

Это самое большое падение индекса Halifax с февраля 2021 года после падения на 0,1% в сентябре.

Это снижает годовой уровень инфляции цен на жилье с 9,8% до 8,3% и означает, что типичная недвижимость в Великобритании теперь стоит 292 598 фунтов стерлингов по сравнению с 293 664 фунтов стерлингов в прошлом месяце.

Рынок содрогнулся, когда оптимистично настроенные покупатели жилья увидели взлет ипотечных ставок, а кредиторы отклонили тысячи предложений по мере роста стоимости займов.

Двухлетняя ипотека выросла с фиксированной ставкой более чем на 6,5% в октябре по сравнению с менее чем 5% до небольшого бюджета.

Средние цены все еще близки к рекордным уровням, но недавний период быстрой инфляции цен на жилье, возможно, закончился, предупреждает Ким Киннерд, директор Halifax Real Estate.

Киннард объяснил, что рост расходов в Великобритании стал «большим шоком» в результате нефинансируемого пакета снижения налогов бывшего канцлера Кваси Квартинга (теперь заброшенного).

"بينما كان من المتوقع حدوث تباطؤ ما بعد الوباء ، ليس هناك شك في أن سوق الإسكان تعرضت لضربة كبيرة نتيجة للميزانية المحدودة التي أدت فجأة إلى تسريع رفع أسعار الرهن العقاري."

"بينما من المرجح الآن أن ترتفع هذه المعدلات ، بعد التراجع عن الإجراءات الضريبية المعلنة سابقًا ، يبدو أن الأحداث الأخيرة دفعت حاملي الرهون العقارية الحالية إلى التفكير في خياراتهم وبعض المشترين المحتملين للراحة."

07:45: فاز فلاتر على فوكس

برزت Flutter Entertainment منتصرة في نزاع طويل الأمد حول خطط شركة Fox Corporation للاستحواذ على حصة في شركة الألعاب الأمريكية FanDuel ، التي تمتلك فيها Flutter حصة الأغلبية.

قالت شركة المراهنات ، التي تمتلك Paddy Power و Betfair ، إن حكمًا أمريكيًا قيمها بـ 20 مليار دولار اعتبارًا من ديسمبر 2020 باستخدام القيمة السوقية العادلة لـ FanDuel ، وهو سعر يخضع لزيادة الأسعار بنسبة 5 ٪ حتى تمارس Fox أي خيار للبيع. العصا مع FanDuel.

اعتبارًا من اليوم ، تبلغ تكلفة FanDuel 22 مليار دولار وتكلفة 4.1 مليار دولار لشركة FOX للاستحواذ على حصة 18.6٪ ، كما قال Flutter في بيان.

قال بيتر جاكسون ، الرئيس التنفيذي لشركة Flutter: "يؤكد قرار اليوم الثقة التي كانت لدينا في موقفنا بشأن هذه المسألة ويوفر اليقين بأنه سيكون من المفيد من حيث التكلفة لشركة FOX أن تستحوذ على هذا العمل ، إذا اختاروا القيام بذلك."

"FanDuel هو الفائز في سوق الولايات المتحدة ومن الواضح أنه المشغل رقم واحد ، وهو موقف مدفوع من خلال المنتجات الفريدة الرائدة في السوق والكفاءة في اكتساب العملاء على نطاق واسع."

"لا يزال الفريق يركز على الحفاظ على مكانتنا القيادية ونتطلع إلى تحديث للسوق في 16 نوفمبر يوم أسواق رأس المال الأمريكية."

لكن فوكس روبرت مردوخ فاز أيضا بالقضية.

قال فوكس إنه "راضٍ عن النتيجة العادلة والإيجابية لتحكيم Flutter. قد لا يتمكن Flutter من إجراء طرح عام أولي [عرض أسهم] لـ FanDuel دون موافقة Fox أو موافقة المحكم".

ورد Flutter في بيان: "يمكننا أيضًا أن نؤكد رسميًا أن Fox ليس لديه قفل على الاكتتاب العام المحتمل لـ FanDuel ، في حالة حدوثه."

سينتهي الطعن القانوني لحق النقض عبر الهاتف المحمول في أوائل العام المقبل.

07:00: من المتوقع أن يفتتح مؤشر FTSE على انخفاض

افتتح مؤشر فوتسي 100 منخفضًا يوم الاثنين حيث أثقل المستثمرون التعليقات الأخيرة من الصين بشأن قواعد كوفيد الصارمة.

شركات المراهنة على فروق الأسعار تسمي المؤشر الرئيسي بحوالي 25 نقطة.

قال إيبك أوزكاردسكايا ، كبير المحللين في Swissquote Bank: "على الرغم من الآمال التي سادت الأسبوع الماضي بإمكانية تخفيف تدابير مكافحة كوفيد -19 ببطء لمنح الناس والاقتصاد استراحة ، فقد أكد المسؤولون الصينيون أنهم كانوا 'بشكل لا لبس فيه' نهجًا خالٍ من كوفيد-كافي سيتبع. نأمل في عكس مكاسب الأسبوع الماضي في الأسهم الصينية ".

قال مايكل هيوسون ، كبير محللي السوق في CMC Markets UK: "ليس هناك شك في أن التقدم الذي شوهد مع موافقة الصين على صفقة تسمح لشركة BioNTech بتوريد اللقاحات إلى المغتربين الصينيين هو بعض التقدم ، بالإضافة إلى تعديل القيود حول الرحلة. الإلغاء المفروض .. تم تقديم حالات كوفيد -19 إلى البلاد من قبل شركات الطيران ، لكن الطريق لا يزال بعيدًا عن إعادة الانفتاح الاقتصادي.

لكنه أضاف: "حتى في أفضل الأحوال ، فإن إعادة الافتتاح في وقت أبكر بكثير من الربع الثاني من العام المقبل غير مرجح بسبب بداية الشتاء وزيادة انتشار العدوى التي تأتي مع أشهر الشتاء".

في لندن ، سيتم إصدار أحدث قراءة لمؤشر أسعار المنازل في المملكة المتحدة في هاليفاكس ، ومن المتوقع صدور بيان تداول من شركة مواد البناء Kingspan.

مؤشر فوتسي 100 يعني إستراتيجية تداول التأرجح العكسي ✅

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