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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 Sep 2019 12:05

LONDON MARKET MIDDAY: FTSE 100 Flat As Pound Rises On Brexit Deal Hope

(Alliance News) - Stock prices in London were flat to higher at midday on Friday, with the FTSE 100 hindered by strength in the pound, which hit its highest level since July on optimism a Brexit a

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20 Sep 2019 10:24

WINNERS & LOSERS SUMMARY: Rolls-Royce Down On Further Trent 1000 Delay

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Royal Bank of

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20 Sep 2019 09:23

BROKER RATINGS SUMMARY: HSBC Cuts Great Portland And Derwent London

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:----------FTSE 100----------CREDIT SUISSE RAISES BURBERRY GROUP TO

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20 Sep 2019 09:22

LONDON MARKET OPEN: FTSE 100 Dragged Down By Strong Pound, Rolls-Royce

(Alliance News) - Stock prices in London were mixed on Friday morning, as a stronger pound weighed on the large-cap index, while other indexes gained on raised hopes for a Brexit deal between the

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20 Sep 2019 08:10

LONDON BRIEFING: Rose Picked To Be First Woman To Lead RBS

(Alliance News) - Royal Bank of Scotland Group PLC on Friday said Alison Rose will succeed Ross McEwan as chief executive officer. McEwan will formally step down on October 31.RBS - which -

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12 Sep 2019 09:38

BROKER RATINGS SUMMARY: Goldman Raises AIB and Cuts Bank Of Ireland

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:----------FTSE 100----------GOLDMAN SACHS CUTS LLOYDS BANKING TO

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4 Sep 2019 09:32

BROKER RATINGS SUMMARY: Deutsche Bank Raises BHP And Cuts Antofagasta

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:----------FTSE 100----------DEUTSCHE BANK RAISES BHP

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22 Aug 2019 09:33

BROKER RATINGS SUMMARY: Liberum Cuts Anglo American, Rio, BHP To Sell

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:----------FTSE 100----------LIBERUM CUTS ANGLO AMERICAN TO - 1500

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22 Aug 2019 08:50

LONDON MARKET OPEN: FTSE 100 Dips Despite NMC Health Shares Soaring

(Alliance News) - London stocks opened Thursday's session on a downbeat note after a set of less dovish than expected minutes from the US Federal Reserve.The FTSE 100 was lower in early

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22 Aug 2019 07:28

TOP NEWS: Antofagasta Warns On Trade War Despite Strong Interims

(Alliance News) - Chilean copper miner Antofagasta PLC on Thursday reported a "robust" first-half performance, though cautioned on the impact trade issues are having on the copper a of a

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19 Aug 2019 08:44

LONDON MARKET OPEN: Stocks Surge On Hopes Of Economic Stimulus

(Alliance News) - Stock prices in London opened higher on Monday, amid hopes of economic stimulus and the prospect of renewed trade talks between the US and China. Amid fears of a global investors

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15 Aug 2019 16:56

LONDON MARKET CLOSE: US-China Trade Confusion Sinks Stocks Once Again

(Alliance News) - Stock prices in London closed lower on Thursday as the US and China continued to deliver confusing blows over the prospect of a trade truce between the two largest global FTSE or

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15 Aug 2019 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 16 August no events scheduled Monday 19 Advanced CommunicationsHalf

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14 Aug 2019 12:03

LONDON MARKET MIDDAY: Stocks Slide After Fleeting Tariff Delay Rally

(Alliance News) - US-China trade optimism in markets gave way to doubts over the outlook for relations between the two, leading the FTSE 100 to slump nearly 70 points at midday on blue-chip index

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14 Aug 2019 08:55

LONDON MARKET OPEN: US Tariff Move Fails To Lift Mood As China Weakens

(Alliance News) - Despite strong gains in the US overnight and broadly upbeat trade in Asia, London stocks got off to a soggy start on Wednesday, after poor economic readings from China and on got

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