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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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5 Jul 2019 10:55

WINNERS & LOSERS SUMMARY: SIG Victim Of Weak UK Construction Market

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Anglo down 2.6%, in

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1 Jul 2019 09:21

Long-Serving Antofagasta Executive Menendez Dies Following Illness

(Alliance News) - Chilean miner Antofagasta PLC on Monday reported the death of Non-Executive Director Gonzalo Menendez after "a period" of illness.Menendez had been a on the and

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11 Jun 2019 17:01

LONDON MARKET CLOSE: FTSE Continues Racking Up Gains As Miners Rally

(Alliance News) - Miners and a well-received set of annual results from hazard detection firm Halma helped the FTSE 100 continue its recent winning streak on Tuesday, though the blue-chip index by

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11 Jun 2019 12:04

LONDON MARKET MIDDAY: Miners Lift FTSE While UK Data Supports Sterling

(Alliance News) - London stocks were enjoying another session in the green on Tuesday as the anticipation of lower interest rates in the US fuelled buying. The FTSE 100 index climbed amid gains by

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11 Jun 2019 10:51

WINNERS & LOSERS SUMMARY: Ted Baker Sinks After Profit Warning

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 2.5%, BHP Group, up up a

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11 Jun 2019 08:50

LONDON MARKET OPEN: Ted Baker Continues To Wobble After Founder's Exit

LONDON (Alliance News) - Stock prices in London opened higher on Tuesday as US-China trade war concerns eased and chances of a US rate cut rose, while mid-cap retailer Ted Baker a

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10 Jun 2019 17:12

LONDON MARKET CLOSE: FTSE Climbs As Pound Slides On Weak UK GDP Data

LONDON (Alliance News) - London stocks started the week on firm footing amid a lessening of US-Mexico trade fears, with the FTSE 100 further boosted on Monday by a poor session for the pound on UK

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10 Jun 2019 12:08

LONDON MARKET MIDDAY: US-Mexico Deal Lifts Mood; Pound Dips On UK Data

LONDON (Alliance News) - As fears over another US trade war front receded with a deal agreed between the world's largest economy and Mexico, risk appetite boosted London stocks on Monday.In to

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10 Jun 2019 08:50

LONDON MARKET OPEN: US-Mexico Stand-Down, China Data Lift Share Prices

LONDON (Alliance News) - Stock prices in London opened higher on Monday after US President Donald Trump suspended plans to impose tariffs on Mexico, while miners benefited from positive Chinese up

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31 May 2019 17:10

LONDON MARKET CLOSE: Trump's Mexican Standoff Sees Stocks End Lower

LONDON (Alliance News) - Stocks across the globe were engulfed in a sea of red on Friday, as the US added another front to its trade war, as President Donald Trump took aim at Mexico. Amid the to

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31 May 2019 12:05

LONDON MARKET MIDDAY: Stocks Down As Trump Directs Ire At Mexico

LONDON (Alliance News) - Stock prices in London were sharply lower at midday on Friday, as US President Donald Trump's vowed to impose tariffs on Mexico and weak factory data from China dealt

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31 May 2019 10:46

WINNERS & LOSERS SUMMARY: Whitbread Up On GBP2 Billion Capital Return

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - up 2.1%. Goldman Sachs upgraded the support a

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31 May 2019 08:58

LONDON MARKET OPEN: Miners And Housebuilders Weigh On FTSE 100

LONDON (Alliance News) - Stocks in London were broadly lower, as the FTSE 100 was weighed down by miners reacting to disappointing Chinese economic data and heightened trade tensions, with the US

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28 May 2019 16:57

LONDON MARKET CLOSE: FTSE Slips Back From Earlier Gains To End Lower

LONDON (Alliance News) - The FTSE 100 got off to a sluggish start following the long weekend, with gains for NMC Health and mining stocks unable to stop London's blue-chip in

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28 May 2019 10:40

WINNERS & LOSERS SUMMARY: NMC Health Rises After Upgrading Guidance

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------NMC up

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