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LONDON MARKET MIDDAY: Miners Keep FTSE Higher Ahead Of US Payrolls

Fri, 04th Jan 2019 12:09

LONDON (Alliance News) - Stocks in London remained higher midday Friday buoyed by miners, confirmed US-China trade talks and positive Chinese economic data.The FTSE 100 index was up 92.54 points, or 1.4%, at 6,785.20, while the FTSE 250 was 219.99 points higher, or 1.3%, at 7,658.90. The AIM All-Share was up 0.8% at 869.07.The Cboe UK 100 was up 1.2% at 11,513.49, while the Cboe UK 250 was 1.2% higher at 15,805.06, and the Cboe UK Small Companies up 0.1% at 10,928.03.On the FTSE 100, miners were supported by positive Chinese services data, recovering from Wednesday's losses on disappointing manufacturing data from the country. Antofagasta was up 3.9%, Glencore and Anglo American were up 3.4%, and Rio Tinto rose 2.4%.China's manufacturing and services sector experienced a five-month high in December, data from IHS Markit showed. The Caixin China Composite PMI reading came in at 52.2 at the end of 2018, up from 51.9 in November, as a result of higher activity levels across both sectors, with China's services companies registering continued growth and manufacturing expanding somewhat following "two months of stagnation". Markit also noted the "solid upturn" in services and highlighted the Caixin China General Services Business Activity Index, which increased slightly to 53.9 in December from 53.8 in November, just reaching its six-month high.Overall, the FTSE 350 Mining Sector Index was up 2.9% midday Friday, but remained down 1.4% over the week.Markets in the US are poised for recovery when they reopen on Friday, with the Dow Jones seen up 1.3%, the S&P 500 called 1.4% higher and the Nasdaq to rise by 1.9%. The first direct negotiations in the trade dispute between China and the US since the announcement of a "ceasefire" last month are expected to take place next week.A US delegation is due to attend the two-day talks on Monday, the Chinese Ministry of Commerce said.The talks are expected to firm up the compromise in the trade dispute announced by US President Donald Trump and Chinese President Xi Jinping in early December.The two had agreed a "ceasefire" until the beginning of March on the sidelines of the G20 summit in Buenos Aires."The US and China will sit down at the negotiating table next week to try and resolve the almost year-long trade dispute that continues to disrupt business flows between the two countries and keeps global markets on tenterhooks. The FTSE and other European gauges perked up on the news and started the trading day in positive territory," said Fiona Cincotta, senior market analyst at CityIndex.Until then, an announced increase in tariffs on goods worth USD200 billion - from the current rate of 10% to 25% - is expected to be suspended.The pound was quoted at USD1.2674 at midday, up from USD1.2634 late Thursday.In the UK, the services PMI came in at 51.2 according to the IHS Markit/CIPS index, improved from 50.4 in November, which was a 28-month low. IHS Markit said the latest data suggests growth in new work also only slightly increased in December month-on-month, with political uncertainty and low confidence going ahead weighing.All Sector PMI, or composite output, reached 51.6 in December from 51.0 in November, the second-slowest rate of business activity expansion since July 2016.Concerning Brexit, according to the YouGov poll funded by Economic and Social Research Council more than half of Conservative Party members prefer a no-deal withdrawal. In a three-way choice, 57% of grassroots Tories said they would support leaving the EU without an agreement, while 23% would back the prime minister's deal and 15% would choose to remain.The overwhelming rejection of May's deal shown in the survey comes at a crucial time for the PM as she faces a crunch Commons vote on her plans. On Thursday, the European Commission confirmed "no further meetings are foreseen" with the UK on updating May's Brexit deal because negotiations have concluded.In mainland Europe, the CAC 40 in Paris was up 1.4% and the DAX 30 in Frankfurt was 1.8%.The euro stood higher at USD1.1415, against USD1.1399 the prior day.The eurozone PMI composite output index moved closer to the 50.0 no-change mark in December. Registering a final reading of 51.1, down from 52.7 in November and lower than the earlier flash estimate of 51.3. The index was at its weakest level for over four years, reflecting lower activity in France caused by the "gilets jaunes" protests, and Germany, whose composite PMI contracted to 51.8 from 53.3 in November.Meanwhile, the eurozone services PMI score declined for a third successive month during December to hit its lowest level in more than four years. After accounting for seasonality, the index recorded 51.2, down from November's 53.4, indicative of modest growth.Still to come in Friday's economic calendar, US private payroll processor ADP releases its monthly nonfarm payrolls report for December at 1330 GMT, and the US services PMI is due out at 1445 GMT.

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24 Oct 2018 12:00

LONDON MARKET MIDDAY: Stocks Recover As Global Sell-Off Eases

LONDON (Alliance News) - FTSE 100 index bounced back to over 7,000 mark at midday on Wednesday after a sharp fall in Tuesday's session, with Barclays among the markets are on the

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24 Oct 2018 09:03

LONDON MARKET OPEN: Stocks Open Higher On Asia Rebound, Airline Gains

LONDON (Alliance News) - Stock prices in London opened higher on Wednesday as Asian markets extended a global equity rebound, with airlines among the gainers.Meanwhile, miners and reported mixed with

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24 Oct 2018 07:49

TOP NEWS: Antofagasta Third Quarter Production Rises, Costs Contained

LONDON (Alliance News) - Copper miner Antofagasta PLC said Wednesday its third quarter production improved markedly as it expects further output gains in the final quarter, meanwhile the firm to a

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24 Oct 2018 07:42

LONDON MARKET PRE-OPEN: Barclays Profit Falls; Miners Cut Guidance

LONDON (Alliance News) - Stock prices in London are set to open higher on Wednesday, following a sharp decline on Tuesday, with Barclays reporting a fall in profit in the first nine

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22 Oct 2018 17:13

LONDON MARKET CLOSE: Gambling Stocks Slip; May Gives Brexit Statement

LONDON (Alliance News) - Stocks in London ended lower on Monday with gambling companies among the worst blue chip performers, while UK Prime Minister Theresa May delivers her Brexit statement to the

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22 Oct 2018 11:59

LONDON MARKET MIDDAY: FTSE 100 Led Higher By NMC, Airlines And Miners

LONDON (Alliance News) - The FTSE 100 went from strength to strength on Monday, gains accelerating as the morning session progressed, having started well following strong trading in Asia was the top

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22 Oct 2018 08:38

LONDON MARKET OPEN: Buoyant China Boosts Miners And Lifts FTSE 100

LONDON (Alliance News) - Following a bumper session for equities in China on Monday, stock prices in London started the week in the green, with NMC Health and miners among the risers.The FTSE 100 was

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17 Oct 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Thursday 18 October Domino's PizzaQ3 ResultsUnileverQ3 ResultsRWS

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12 Oct 2018 17:13

LONDON MARKET CLOSE: Miners Up As FTSE 100 Dips Below 7,000 Mark

LONDON (Alliance News) - Stocks in London ended mixed on Friday following a bruising week for the large cap FTSE 100 index, though mining stocks were the main winners on stronger commodity prices and

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12 Oct 2018 11:56

LONDON MARKET MIDDAY: Stocks In Rebound Mode As Global Sell Off Eases

LONDON (Alliance News) - Stocks in London were clawing back steep losses at midday on Friday, with miners driving gains in the FTSE 100, as the global sell off which has plagued financial markets the

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9 Oct 2018 16:59

LONDON MARKET CLOSE: Stocks Mixed As Italy Crisis And US Yields Weigh

LONDON (Alliance News) - Stocks in London ended mixed on Tuesday, although the FTSE 100 managed to move off six-month lows, as fears over the Italian debt crisis and rising US bond yields continued a

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5 Oct 2018 17:03

LONDON MARKET CLOSE: Stocks End Lower, Dragged By US Bond Yields

LONDON (Alliance News) - Stocks in London followed Europe to close lower Friday due to the relatively high US government bond yields scaring investors away from emerging markets and dragging FTSE 100

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5 Oct 2018 12:00

LONDON MARKET MIDDAY: Stocks Dragged By US Bond Yields, Intu Surges

LONDON (Alliance News) - Stocks continued to fall at midday on concerns over rising US bond yields, presenting a sizable event risk, as Intu Properties surged following news of a its

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5 Oct 2018 10:41

WINNERS & LOSERS SUMMARY: Possible Shareholder Offer Boosts Intu

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - down 5.1%. Goldman Sachs has cut its stock to to

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5 Oct 2018 09:25

BROKER RATINGS SUMMARY: Intu Gets Upgrades As Possible Offer Looms

LONDON (Alliance News) - The following London-listed shares received analyst recommendations Friday morning and late Thursday. ----------FTSE 100----------BERNSTEIN RAISES TO -

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