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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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13 Feb 2019 17:11

LONDON MARKET CLOSE: Stocks Rise On US-China Trade Optimism

LONDON (Alliance News) - Stocks in London ended higher, with miners driving the FTSE 100 to a near four-month high, amid brighter prospects regarding US-China trade negotiations. Investor was US a

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4 Feb 2019 08:52

LONDON MARKET OPEN: Stocks Edge Higher; Ryanair Sounds Brexit Alarm

LONDON (Alliance News) - Stock prices in London opened marginally higher on Monday after quiet trading in Asia overnight, while Ryanair fell after posting a loss in the third and

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31 Jan 2019 17:13

LONDON MARKET CLOSE: Commodity Stocks Rise As Trump Turns Optimistic

LONDON (Alliance News) - Stocks in London ended mixed on Thursday with the energy and mining sector behind the FTSE 100's gains, as investors welcomed positive comments from the US over trade.

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30 Jan 2019 17:15

LONDON MARKET CLOSE: FTSE 100 Rallies As Commodity Stocks Drives Gains

LONDON (Alliance News) - Stocks in London ended higher on Wednesday with heavyweight commodity stocks and a weaker pound edging the FTSE 100 towards the 7,000 mark. The FTSE 100 index closed up or

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30 Jan 2019 10:48

WINNERS & LOSERS SUMMARY: Firm Commodity Prices Drive Miners Higher

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - up 2.5%. The Mexican gold miner was spot a

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25 Jan 2019 17:18

LONDON MARKET CLOSE: Stocks Mixed As Miners Rise But Vodafone Sinks

LONDON (Alliance News) - Stocks in London finished the week mixed as commodity miners were unable to keep the FTSE 100 in the green with Vodafone dragging the index lower.The FTSE 100 closed down

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25 Jan 2019 12:13

LONDON MARKET MIDDAY: Miners On The Up, Property Stocks Recover

LONDON (Alliance News) - The FTSE 100 was higher midday Friday, helped by rising commodity stocks, while the FTSE 250 has been helped by property firms clawing back losses made earlier in the FTSE

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25 Jan 2019 08:42

LONDON MARKET OPEN: Miners Rise; Deals Lift Fuller's And Earthport

LONDON (Alliance News) - The FTSE 100 was in the green early on Friday, helped by commodities stocks, while a number of midcap firms were suffering from broker ratings cuts. Elsewhere on the Stock

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23 Jan 2019 08:52

TOP NEWS: Antofagasta Keeps Up Record Silver Output But Gold Falters

LONDON (Alliance News) - Antofagasta PLC on Wednesday said it achieved record silver production in 2018, but gold output declined despite strong growth in the final quarter.The FTSE miner a

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23 Jan 2019 08:34

LONDON MARKET OPEN: Burberry And Fresnillo Fall As FTSE Resumes Slide

LONDON (Alliance News) - Stocks in London continued where they left off on Tuesday, with the FTSE 100 lower on Wednesday amid losses for fashion house Burberry and gold miner FTSE

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23 Jan 2019 07:40

LONDON MARKET PRE-OPEN: RPC Agrees To Be Bought Out For GBP3.3 Billion

LONDON (Alliance News) - Stock prices in London on Wednesday are set to resume Tuesday's slide, with markets in the US posting steep declines overnight and trade in Asia mixed.In early company

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22 Jan 2019 16:55

LONDON MARKET CLOSE: Oil, Mining Stocks Hit By Global Growth Jitters

LONDON (Alliance News) - The FTSE 100 tumbled on Tuesday as markets in the US and Asia got a chance to react to the International Monetary Fund's downgraded global growth forecasts.Also on a a

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16 Jan 2019 17:38

Antofagasta Non-Executive Director Hayes To Stand Down At AGM

LONDON (Alliance News) - Antofagasta PLC on Wednesday said Non-Executive Director William Hayes will not stand for re-election at the company's next annual general meeting.The meeting a

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16 Jan 2019 16:12

UK Earnings, Trading Statements Calendar - Next 7 Days

Thursday 17 January IbstockTrading StatementWhitbreadQ3 ResultsGame (at

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15 Jan 2019 17:02

LONDON MARKET CLOSE: Pound Sinks As May Braces For Likely Defeat

LONDON (Alliance News) - Stocks ended in positive territory on Tuesday, with mining stocks, Sage, and BAE Systems all among the risers.The blue-chip FTSE 100 was

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