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AI Daily 5 entries
LONDON MARKET CLOSE: Diageo dents spirits in London but US stocks fly
- The FTSE 100 closed down 0.4% on Friday, with losses in Diageo and housebuilding stocks weighing on the index.
- The FTSE 250 and AIM All-Share also ended the day lower, down 0.2% and 0.3% respectively.
- European markets were in the red, with the CAC 40 and DAX declining 1.5% and 0.6% respectively, while US markets pushed higher.
- Shares in alcoholic beverage companies fell after the US Surgeon General called for cancer warnings on drink labels.
- Diageo, Campari, and Pernod Ricard all saw significant declines, with Diageo being the worst performer on the FTSE 100.
- The US manufacturing sector showed signs of improvement in December, with the ISM manufacturing PMI rising to 49.3.
- The pound and euro strengthened against the dollar, while the dollar weakened against the yen.
- London-listed housebuilders declined after a surprise drop in mortgage approvals in November.
- Oil majors Shell and BP remained in positive territory as oil prices held their recent gains.
- Retailers were mixed after a report showed a decline in footfall in December, with M&S rising 0.5% while Next fell 1.8%.
- Shares in Tullow Oil jumped 11% after a favourable tax ruling in Ghana.
- Next week's calendar features PMI releases and US jobs data, along with Christmas trading statements from several retailers.
LONDON MARKET MIDDAY: FTSE 100 eases but outperforms European peers
- The FTSE 100 index traded down 0.1% at midday on Friday, with losses in housebuilding and mining stocks weighing on the market.
- The FTSE 250 and European indices were also down, while the AIM All-Share was relatively flat.
- US markets were expected to open higher after a weak start to the year on Wall Street the previous day.
- Housebuilders led the fallers on the FTSE 100, with a surprise drop in mortgage approvals in November.
- Mining stocks eased amid ongoing uncertainty in China, with the Shanghai Composite Index closing down 1.6%.
- Oil majors BP and Shell rose, despite a slight ease in oil prices, while gold stabilised after recent gains.
- Retailers were mixed, with footfall data showing a decline in December compared to 2023.
- Shares in Tullow Oil jumped 12% after a favourable tax ruling in Ghana.
- The pound and euro rallied after recent falls, but ING predicts further US dollar strength.
LONDON BROKER RATINGS: Indivior and Vistry price targets cut
- FTSE 250
- Berenberg cuts Vistry price target to 650 (750) pence - 'hold'
- OTHER MAIN MARKET
- UBS cuts Wise price target to 1,240 (1,050) pence - 'buy'
- Jefferies cuts Indivior price target to 1,220 (1,800) pence - UBS
LONDON MARKET OPEN: FTSE 100 lower; Tullow Oil jumps on tax case boost
- London's FTSE 100 surrenders some of its recent gains, opening down 0.1% on Friday morning, with similar declines seen in the FTSE 250 and European indices.
- The previous day saw losses on Wall Street, with the Dow Jones, S&P 500, and Nasdaq Composite all closing lower.
- Concerns over the energy situation in Europe, following the expiry of the Russia-Ukraine gas transit deal, weigh on markets.
- US manufacturing PMI data and jobless claims figures show a mixed picture of the economy, with a weak manufacturing sector but a robust labour market.
- Asian markets are mixed, with China's Shanghai Composite down 1.6% while Hong Kong's Hang Seng Index and Australia's S&P/ASX 200 rise.
- China reaffirms its commitment to opening up its economy despite potential trade challenges with the US under President-elect Donald Trump.
- Miners drag on the FTSE 100, while oil majors climb despite a slight fall in Brent crude prices.
- Tullow Oil shares jump 12% after a favourable tax verdict from the International Chamber of Commerce.
- The pound, euro, and gold prices all show modest gains, while the dollar weakens against major currencies.
LONDON MARKET EARLY CALL: FTSE 100 to fade after strong Thursday
- London's FTSE 100 is predicted to open slightly lower on Friday, giving back a small portion of the previous day's solid gains.
- Asian markets were mixed, with Chinese and Japanese markets closed, while Australian and Hong Kong markets posted modest gains.
- On Thursday, US markets ended in the red, with the Dow, S&P 500, and Nasdaq all recording losses.
- China reaffirms its commitment to opening up its economy despite potential trade challenges with the US under President-elect Donald Trump.
- The US dollar weakened slightly on Friday morning after significant gains against the euro and pound on Thursday.
- Crude oil prices dipped, with Brent crude trading lower at USD75.90 per barrel, while gold prices rose marginally.
- The US ISM manufacturing PMI, due later in the day, will be a key economic indicator to watch.
- US jobless claims fell more than expected, indicating a robust labour market, while manufacturing activity showed a slight improvement.
All Market News Today 332 headlines
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