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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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20 Mar 2019 08:44

LONDON MARKET OPEN: Inmarsat Up On Takeover Bid; Kier Slashes Payout

LONDON (Alliance News) - Renewed worries over US-China trade talks send UK share prices lower at the open on Wednesday, with UK inflation readings and a US interest decision due later in the was a

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19 Mar 2019 17:08

LONDON MARKET CLOSE: FTSE's Momentum Continues With Help From Ocado

LONDON (Alliance News) - The FTSE 100's recent winning streak continued on Tuesday, joined by gains elsewhere in Europe and the US."The rally is moving from its 'unstoppable stage to

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19 Mar 2019 12:04

LONDON MARKET MIDDAY: Ocado, Antofagasta And Standard Life Boost FTSE

LONDON (Alliance News) - The FTSE 100 on Tuesday was continuing its positive start to the week, supported by gains for individual reasons by constituents such as Ocado, Standard a

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19 Mar 2019 10:54

WINNERS & LOSERS SUMMARY: Ferrexpo Down As It Finds More Discrepancies

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 4.3%. The Chilean copper miner's were

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19 Mar 2019 08:48

LONDON MARKET OPEN: Antofagasta, Ocado And Hikma Send FTSE 100 Higher

LONDON (Alliance News) - Stock prices in London opened mixed on Tuesday, with Antofagasta, Ocado and Hikma Pharmaceuticals driving gains in the a

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19 Mar 2019 08:30

TOP NEWS: Antofagasta Cuts Payout 14% As Cost Send 2018 Earnings Lower

LONDON (Alliance News) - Chilean copper miner Antofagasta PLC on Tuesday said cost increases hurt its annual earnings, prompting a dividend cut.Pretax profit for 2018 was USD1.25 billion, a

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19 Mar 2019 07:43

LONDON MARKET PRE-OPEN: Antofagasta Earnings Slip; Ocado Revenue Rises

LONDON (Alliance News) - Stock prices in London are set for a subdued start on Tuesday, following Asian equity markets lower, as the US Federal Reserve starts its two-day monetary policy meeting a

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12 Mar 2019 16:58

LONDON MARKET CLOSE: Pound Slides Ahead Of May's Likely Brexit Defeat

LONDON (Alliance News) - London stocks ended higher on Tuesday amid a volatile session for the pound, which was trading below the USD1.31 mark ahead of UK Prime Minister Theresa May's likely a

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12 Mar 2019 16:10

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 13 March PrudentialFull Year Results (at 0830 GMT)Wm Morrison SupermarketsFull

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12 Mar 2019 12:03

LONDON MARKET MIDDAY: Pound Falls Back Near USD1.30 Before Brexit Vote

LONDON (Alliance News) - The FTSE 100 was on course for a second session of gains on Tuesday as the pound had a volatile day tracking the latest Brexit updates, sinking sharply after the UK's

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11 Mar 2019 11:55

LONDON MARKET MIDDAY: Stocks In Green; Merger Activity Lifts FTSE 250

LONDON (Alliance News) - London stocks made a strong start to the week, with a softer pound supporting the FTSE 100, while the mid-cap FTSE 250 was lifted by news of a potential tie-up between and

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8 Mar 2019 17:16

LONDON MARKET CLOSE: Dismal US Job Growth Adds To Growth Concerns

LONDON (Alliance News) - Stocks in London ended lower on Friday after disappointing US nonfarm payrolls numbers added to the gloomy picture over the health of the global economy.Financial markets

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8 Mar 2019 12:00

LONDON MARKET MIDDAY: Stocks Down On ECB Gloom And Weak China Data

LONDON (Alliance News) - Stock prices in London were lower on Friday, still reeling after the European Central Bank slashed its economic outlook for the eurozone on Thursday.On the London Stock in

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6 Mar 2019 12:00

LONDON MARKET MIDDAY: Tobacco, Miners Keep FTSE 100 On Winning Streak

LONDON (Alliance News) - London's FTSE 100 index was outperforming European counterparts again on Wednesday amid gains for tobacco stocks and miners. The FTSE 100 index was 13.45 points or at

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25 Feb 2019 08:50

LONDON MARKET OPEN: Miners Boost FTSE 100, As Centamin Drags Down 250

LONDON (Alliance News) - London stock prices were mixed on Monday as positive news about a potential US-China deal were offset by some disappointing UK company updates.The FTSE 100 was 7.58 points

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