Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCompass Group Share News (CPG)

Share Price Information for Compass Group (CPG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,244.00
Bid: 2,234.00
Ask: 2,235.00
Change: 23.00 (1.04%)
Spread: 1.00 (0.045%)
Open: 2,221.00
High: 2,244.00
Low: 2,209.00
Prev. Close: 2,221.00
CPG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

U.S. stocks skittish, but still score gains

Mon, 17th Apr 2023 21:15

*

Main U.S. equity indexes end slightly green


*

Real estate leads S&P 500 sector gainers; energy weakest group


*

Dollar up; gold, crude, bitcoin decline


*

U.S. 10-Year Treasury yield rises to ~3.60%



Welcome to the home for real-time coverage of markets brought to
you by Reuters reporters. You can share your thoughts with us at

U.S. STOCKS SKITTISH, BUT STILL SCORE GAINS (1605 EDT/2005 GMT)

Major U.S. stock indexes edged up on Monday as higher bond yields weighed on tech and growth stocks and investors braced
for a heavy week of corporate results and comments from Federal
Reserve officials that could give more insight into the path of
interest rates.

After a subdued open, the S&P 500 index spent much of the day trading around the flat line. However, the benchmark
index strengthened enough late in the session to end up 0.33%,
essentially on the day's high at 4,151.40.

Of note, the SPX's intraday range as a percentage of the prior day's close was just 0.69%. That's its fourth tightest
reading so far this year. The lowest reading was last Tuesday at
0.53% so there appears to be a sudden level of indecision. Last
Tuesday's 0.53% print was the tightest since Nov. 25 of last
year, which was the holiday shortened session, the day after
Thanksgiving.

Sudden skittishness is coming just as traders are wondering if the SPX is about to see a break in the clouds. Cloud
resistance resides around 4,155.

In any event, on Monday, yields rose, and bank stocks were among outperformers.

Here is where markets stood just moments after the 4 p.m. EDT close:


CAN STOCKS BOTTOM AHEAD OF A RECESSION? (1330 EDT/1730 GMT)

Many U.S. equity investors wonder if the stock market has ever bottomed before a recession actually got underway.

Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, has been highlighting the belief that the S&P 500
priced in a recession at its October 2022 low, down roughly 25%
from its record high.

According to Calvasina, there actually is one period in history when the stock market appeared to ignore a recession –
1945. This was the recession that occurred as World War 2 came
to an end.

"It was brief, lasting from February 1945 to October of 1945, and was driven by the pivot from a wartime economy to a
peacetime economy in which government spending dried up quickly.
Unemployment remained low despite the fact that soldiers
returning home were competing with civilians for jobs," writes
Calvasina in a note.
She adds that stock market conditions were volatile before
the recession of 1945.
While there are clear differences between 1945 and today,
Calvasina believes that one thing that both have in common is
that "unprecedented historical events caused dramatic shifts in
the economy that required a tough transition back to more normal
conditions."

In the case of 1945, this resulted in a technical recession that the stock market was able to endure, perhaps due to all the
pain it had already taken.

"Time will tell whether the stock market can look past any recession that occurs in 2023-2024 as the US economy completes
its transition into the post-COVID era. It’s worth keeping in
mind that while this would be rare, it wouldn’t be entirely
unprecedented."

TAKING STOCK OF SOME RARE BULLISH TRIGGERS (1222 EDT/1622 GMT)

Stocks have staged an impressive rally off their mid-March lows, so much so that, Ryan Detrick, chief market strategist at
The Carson Group, says he sees multiple rare and potentially
bullish signals.

Detrick notes that the S&P 500 had its best first quarter since 2019, up 7.0%, which came on the heels of 7.1% gain the
prior quarter.

What happened after previous big first quarters? Detrick says that there were 16 other first quarters that gained at
least 5% and the final three quarters of the year finished
higher 15 times.

Next, Detrick addresses the breadth issue, that only a few stocks are leading the overall market higher. Detrick cites a
recent sign of extreme buying pressure across many sectors and
stocks. Using data from Ned Davis Research, Detrick says that
more than 93% of the stocks in the NDR universe were recently
above their 10-day moving average.

"All you need to know here is this is a rare sign of broad-based strength and a year later stocks were higher 23 out
of 24 times with some very solid returns along the way," Detrick
writes.

Lastly, Detrick points to a recent rare trigger of the Zweig Breadth Thrust (ZBT) indicator, which was developed by legendary
trader Marty Zweig. The signal looks at all the stocks on the
NYSE and it looks for periods of extreme oversold readings
moving to periods of extremely overbought conditions in a short
timeframe. In other words, a quick transition from washout to
heavy buying.

According to Detrick, with the previous 14 ZBTs, the S&P 500 was higher a year later every single time (14 out of 14 times
and up 23.3% on average).

"It would be quite rare for this signal to trigger and for stocks to simply drop right back to new lows. In fact, usually
it happens ahead of periods of strength."

IT'S TIME FOR DIVIDENDS RULE (1112 EDT/1512 GMT)

Corporate America is possibly going to keep a tight lid on costs amid a high interest rate environment, likely higher
lending standards and slowing growth, with last month's turmoil
in the banking sector adding to caution.

The outlook of buybacks is less favorable in such times, while dividends have room to growth further, Goldman Sachs noted
in its Weekly Kickstart note.

As earnings reports pour in, latest results show first quarter S&P 500 dividend-per-share growth has already registered
8% growth year-over-year, with strategists expecting further
growth in 2023, GS said.

Meanwhile, S&P 500 buyback executions fell by 11% in Q3 2022 from a year ago and 21% in 4Q 2022 and data suggests YTD
activity could slow further in Q1, GS added.

Indeed, Charles Schwab on Monday said it would pause its share repurchase program in light of recent uncertainty in the
U.S. banking sector and the resulting concerns around new
regulations.

"Current cash spending outlook is supportive for stocks paying dividends over those focusing on repurchasing shares," GS
strategist David Kostin said in a note late on Friday.

The S&P 500 Buyback index, which measures the performance of the top 100 stocks in the index with the highest
buyback ratios has edged up 2% this year.

In comparison, the S&P 500 Dividends Aristrocrats index , which measures the performance of S&P 500 companies
that have increased dividends every year for the last 25
straight years, has eked out a 1% gain in 2023.

Separately, Bank of America strategists noted on Monday that JPMorgan and Wells Fargo bought back stock in Q1
and expect to continue to do so in 2023, a rare positive at a
time of potentially slowing buybacks in general.

Dividends are not completely out of the woods though.

If lending stress increases substantially and leads to a broader downturn, GS strategists expect regional banks to
suspend dividends and REITs to reduce dividends.

TURN THAT FROWN UPSIDE-DOWNISH: EMPIRE STATE, NAHB (1049 EDT/1449 GMT)

Data released on Monday suggested the economic skies are a

tad less cloudy this month.

Factory activity in the Northeast bounced back to expansion this month.

The New York Fed's Empire State index delivered a big upside surprise in April, landing at 10.8, having spent
the previous four months in contraction (an Empire State number
above zero signifies monthly expansion).

Analysts expected a reading of -18.

The turnaround was driven by robust bounce-back in new orders - to 25.1 from March's -21.7 print.

The index, which aggregates results from a survey sent to 200 manufacturing executives in New York State at the first of
the month, also showed a cool-down in the inflation-related
prices paid element, while the employment number remained in
contraction.

The manufacturing sector - accounting for about 11% of the U.S. economy - has been contending with higher input costs, a
demand shift from goods to services and a worker shortage.

But the sector's most formidable current bogeyman is tighter credit conditions - as the Fed continues to tighten the screws
and regional banks confront a liquidity crunch.

"On the face of it, this report suggests that the re-opening rebound in China’s manufacturing sector is providing a
significant boost to activity in the U.S., offsetting any drag
from tighter credit conditions," writes Kieran Clancy, senior
U.S. economist at Pantheon Macroeconomics.

"(But) capital spending is the lifeblood of U.S. manufacturing activity, and it is set to take an enormous hit as
credit conditions tighten," Clancy adds.

On Thursday, the Philly Fed will round out the Atlantic region manufacturing picture:

Separately, the mood in the home construction market is a bit less gloomy in April, according to the National Association
of Home Builders (NAHB).

While NAHB's Housing Market index inched up to 45 from 44 - consensus saw it staying put - it marks its ninth
straight month below 50, the line of demarcation between
pessimism and optimism.

Even so, the report also shows its fourth consecutive monthly improvement.

"Currently, one-third of housing inventory is new construction, compared to historical norms of a little more than
10%," says Robert Dietz, NAHB's chief economist, who also notes
that "there is not significant evidence thus far" that tighter
lending conditions amid regional banking turmoil are hitting
builders and developers.

"Builders note that additional declines in mortgage rates, to below 6%, will price-in further demand for housing," adds
NAHB chair Alicia Huey.

Indeed, traffic of would-be buyers, encouraged by recent down-tick in mortgage rates, appears to be on its way to
recovery.

Later in the week, housing starts/building permits, mortgage demand and existing home sales data will give housing market
geeks more to chew on.

U.S. STOCKS STEP GINGERLY IN EARLY TRADE (1015 EDT/1415 GMT) The main U.S. indexes are all roughly flat in early
trade on Monday as investors await more bank earnings and views
from Federal Reserve policymakers that could shape expectations
around when the central bank would pause its monetary policy
tightening.

A majority of S&P 500 are in positive territory, with real estate posting the biggest rise.

Communication services is down more than 1.5%, making it the only one of the 11 sectors with an absolute change
of more than 1%.
Here is an early trade snapshot:





(Terence Gabriel)

*****





WEDBUSH BELIEVES INDIA IS APPLE'S NEXT MARKET TO CONQUER
(0925 EDT/1325 GMT)

Wedbush believes Apple Inc's move to open its
first retail store in India kicks off an aggressive push that
could ramp up annual India revenue to $20 billion by 2025.

This compares with Apple's revenues from the country touching $6 billion in the year through March 2023.

"Apple, with price points across the board, plan to take a page out of their historically successful China strategy in
penetrating India over the coming years and unseating
traditional competitors," says Wedbush analyst Dan Ives.

Apple is looking at India from both a production and a retail expansion point of view over the coming years - a
strategic "poker move," says Ives.

Market share gains are on the horizon as it opens in major cities and attempts to attract more Indian consumers into the
Apple ecosystem.

GREENER PASTURES AHEAD FOR EUROPE'S ESG (0904 EDT/1304 GMT)

After a rough 2022, it looks like sustainable investing is back in vogue.

Environmental, social and governance (ESG) equity funds ended the first quarter of this year with net inflows, even
after the March withdrawals sparked by the banking crisis,
beating non-ESG equity funds, which lost money.

Citi Research's equity strategy team said there are three main reasons to re-engage with ESG stocks this year -

1. ESG earnings have been resilient to past profit recessions

2. Real rates are stabilizing and ESG is a "growth trade" so subsiding valuation pressures should help these stocks

3. Structural pro-ESG trends like the U.S. Inflation Reduction Act

Stocks in Europe that could benefit from these trends, according to Citi, include luxury firms such as Richemont
, and Kering and pharmaceutical firms like Novo
Nordisk.

Citi's list of resilient ESG stocks have gained 14% on average so far this year, outpacing the 10% gain in 2023 by the
broader STOXX 600 index.

Here's a full list of European ESG stocks, recommended by Citi with resilient EPS:
RIC Name

YTD%


Eiffage 11.782
Kone B 2.9814
Intertek Group 1.8344
Teleperformance -3.8616
Amadeus It Group 27.1267
Compass Group 8.2138
Whitbread 21.1284
Nestle 4.6722
London Stock Exchange 10.6222
Worldline 8.4588
Danone 20.8816
Prudential 2.0399
Kering 20.0631
Richemont N 22.769
Air Liquide 20.6193
Smith (DS) 1.1527
Publicis Groupe 25.143
WPP 16.435
Lonza Group 30.5231
Novo Nordisk 'B' 23.9232
Inditex 26.1569
Ahold Delhaize 15.7601
DSV 17.5559
EDP Renovaveis 1.0204

S&P 500 INDEX: ABOUT TO BE A BREAK IN CLOUDS? (0900 EDT/1300 GMT)

The S&P 500 index ended last week flirting some major chart barriers. Thus, bulls may soon learn whether their worries
are just like passing clouds, or if instead, another storm may
be brewing.

The SPX hit a high on Friday of 4,163.19 before closing out the week at 4,137.64.

Thus, the benchmark index flirted with the upper edge of the weekly Ichimoku cloud, which resides around 4,155.

Ichimoku cloud is technical indicator which displays support and resistance, identifies trends, and measures momentum.
Utilizing midpoints of ranges, a number of lines are generated.
Two of these lines are used to create cloud boundaries. The
entire cloud is shifted forward in time in order to provide a
glimpse of future support and resistance:


Once the SPX broke below the cloud in May of last year, it has failed to thrust back above it on a weekly closing basis.
Indeed, rallies failed in early-June, mid-August, mid-December,
and in early-February of 2023.

Thus, the 4,155 level presents an important hurdle.

Add in additional resistance at the early-February high at 4,195.44, the 23.6% Fibonacci retracement of the March
2020-January 2022 advance at 4,198.70, the Fed-Chair Powell
August-26 Jackson Hole speech high at 4,203.04, and the 100-week
moving average, which ended Friday at 4,203.49, and bulls may
have their heads in the clouds if they expect the SPX will be
able to continue to advance.

That said, clearing these barriers will have the potential to add credence to the view that the SPX saw a major low in
October, and suggest that its trend inflection is only
strengthening.

FOR MONDAY'S LIVE MARKETS POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE

More News
4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
4 Mar 2024 07:41

LONDON BRIEFING: Stocks called down; attention on UK's spring budget

(Alliance News) - Stocks in London are called to open lower, ahead of a busy week of economic news.

Read more
22 Feb 2024 14:23

UK dividends calendar - next 7 days

Friday 23 February 
abrdn Asian Income Fund Ltddividend payment date
abrdn Property Income Trust Ltddividend payment date
Capital Gearing Trust PLCspecial dividend payment date
CQS Natural Resources Growth & Income PLCdividend payment date
Edinburgh Investment Trust PLCdividend payment date
Ferrexpo PLCdividend payment date
Foresight Solar Fund Ltddividend payment date
Games Workshop Group PLCdividend payment date
Gooch & Housego PLCdividend payment date
Henderson Far East Income Ltddividend payment date
Hollywood Bowl Group PLCspecial dividend payment date
Impact Healthcare REIT PLCdividend payment date
Impellam Group PLCspecial dividend payment date
JPMorgan Global Core Real Assets Ltddividend payment date
M&G Credit Income Investment Trust PLCdividend payment date
Marwyn Value Investors Ltddividend payment date
Octopus Renewables Infrastructure Trust PLCdividend payment date
Primary Health Propertiesdividend payment date
RWS Holdings PLCdividend payment date
Starwood European Real Estate Finance Ltddividend payment date
Target Healthcare REIT PLCdividend payment date
Victrex PLCdividend payment date
Monday 26 February 
Dewhurst Group PLCdividend payment date
JPMorgan Mid Cap Investment Trust PLCdividend payment date
Tuesday 27 February 
JPMorgan UK Smaller Cos Investment Trust PLCdividend payment date
Wednesday 28 February 
Canadian General Investments Ltdex-dividend payment date
CQS New City High Yield Fund Ltddividend payment date
PetroTal Corpex-dividend payment date
Thursday 29 February 
abrdn Equity Income Trust PLCex-dividend payment date
Alliance Trust PLCex-dividend payment date
Ashmore Group PLCex-dividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Bankers Investment Trust PLCdividend payment date
Barclays PLCex-dividend payment date
Brunner Investment Trust PLCex-dividend payment date
City of London Investment Group PLCex-dividend payment date
City of London Investment Trust PLCdividend payment date
Compass Group PLCdividend payment date
Custodian Property Income REIT PLCdividend payment date
Diageo PLCex-dividend payment date
Diverse Income Trust PLCdividend payment date
Diversified Energy Co PLCex-dividend payment date
Downing Renewables & Infrastructure Trust PLCex-dividend payment date
Driver Group PLCex-dividend payment date
Dunedin Income Growth Investment Trust PLCdividend payment date
Ecofin Global Utilities & Infrastructure Trust PLCdividend payment date
EJF Investments Ltddividend payment date
Fair Oaks Income Ltdex-dividend payment date
Fair Oaks Income Ltd Realisation ex-dividend payment date
Gabelli Merger Plus+ Trust PLCex-dividend payment date
Genus PLCex-dividend payment date
Greencoat UK Wind PLCdividend payment date
Hargreaves Lansdown PLCex-dividend payment date
Hays PLCex-dividend payment date
Henderson International Income Trust PLCdividend payment date
HICL Infrastructure PLCex-dividend payment date
JLEN Environmental Assets Group Ltdex-dividend payment date
LondonMetric Property PLCex-dividend payment date
MJ Gleeson PLCex-dividend payment date
Mobeus Income & Growth 2 VCT PLCex-dividend payment date
NB Private Equity Partners Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCex-dividend payment date
Picton Property Income Ltddividend payment date
Plus500 Ltdex-dividend payment date
Polar Capital Global Financials Trust PLCdividend payment date
Polar Capital Global Healthcare Trust PLCdividend payment date
Regional REIT Ltdex-dividend payment date
Riverstone Credit Opportunities Income PLCex-dividend payment date
Scottish American Investment Co PLCex-dividend payment date
Sequoia Economic Infrastructure Inc Fund Ltddividend payment date
SSP Group PLCdividend payment date
Sylvania Platinum Ltdex-dividend payment date
Taylor Maritime Investments Ltddividend payment date
Tharisa PLCex-dividend payment date
UK Commercial Property REIT Ltddividend payment date
VH Global Sustainable Energy Opportunities PLCex-dividend payment date
VPC Specialty Lending Investments PLCex-dividend payment date
Warehouse REIT PLCex-dividend payment date
Wilmington PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
12 Feb 2024 09:41

LONDON BROKER RATINGS: Deutsche Bank starts Deliveroo at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
9 Feb 2024 09:15

LONDON BROKER RATINGS: Deutsche Bank cuts AstraZeneca to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
8 Feb 2024 14:42

London close: Stocks slip as US jobless claims fall

(Sharecast News) - London markets experienced a downturn in trading on Thursday, with stocks relinquishing earlier gains as investors processed a decrease in jobless claims in the United States.

Read more
8 Feb 2024 10:05

Shore Capital sees upside risk at Compass after strong Q1

(Sharecast News) - Shore Capital has reiterated its 'buy' rating on Compass Group after a first-quarter trading update from the catering giant on Thursday, saying trading is tracking ahead of full-year assumptions.

Read more
8 Feb 2024 08:35

Compass maintains annual guidance amid 12% organic revenue growth

(Alliance News) - Compass Group PLC, ahead of its annual general meeting on Thursday, reported a double-digit percentage organic increase in revenue in its financial first quarter, while saying recent acquisitions hold the promise of more growth ahead.

Read more
8 Feb 2024 07:13

Compass delivers strong Q1 with double-digit growth across the board

(Sharecast News) - Catering giant Compass said it delivered a strong start to its financial year with organic revenue growth currently running ahead of full-year guidance.

Read more
1 Feb 2024 15:52

UK earnings, trading statements calendar - next 7 days

Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
Wednesday 7 February 
Ashmore Group PLCHalf Year Results
Barratt Developments PLCHalf Year Results
HydrogenOne Capital Growth PLCTrading Statement
Phoenix Spree Deutschland LtdTrading Statement
PZ Cussons PLCHalf Year Results
Smurfit Kappa Group PLCFull Year Results
UK Commercial Property REIT LtdTrading Statement
Thursday 8 February 
Anglo American PLCTrading Statement
AstraZeneca PLCFull Year Results
British American Tobacco PLCFull Year Results
Compass Group PLCTrading Statement
Redrow PLCHalf Year Results
SSE PLCTrading Statement
Unilever PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
1 Feb 2024 15:50

UK shareholder meetings calendar - next 7 days

Friday 2 February 
Tectonic Gold PLCAGM
Monday 5 February 
no events scheduled 
Tuesday 6 February 
Blackrock Frontiers Investment Trust PLCAGM
Qinetiq Group PLCGM re share buyback authorisation
Ten Lifestyle Group PLCAGM
Wednesday 7 February 
Asos PLCAGM
eEnergy Group PLCGM re disposal of Energy Management division
Future PLCAGM
Mosman Oil & Gas LtdEGM re director participation in placing
Premier Miton Group PLCAGM
Thursday 8 February 
Benchmark Holdings PLCAGM
Compass Group PLCAGM
easyJet PLCAGM
Hargreave Hale AIM VCT PLCAGM
Polar Capital Global Healthcare Trust PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
25 Jan 2024 09:10

LONDON BROKER RATINGS: JPMorgan raises Admiral Group to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
23 Jan 2024 07:44

LONDON BRIEFING: Crest Nicholson names Persimmon's Martyn Clark as CEO

(Alliance News) - Stocks in London are called higher on Tuesday, as largely positive sentiment prevails across global equity markets.

Read more
22 Jan 2024 17:30

London close: Stocks maintain gains on fresh UK optimism

(Sharecast News) - London markets finished with a positive performance on Monday, following the lead of Wall Street's strong gains towards the end of the previous week.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.