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Sector movers: Domestic focused shares pace gains

Thu, 03rd Nov 2016 15:21

(ShareCast News) - Domestic-focused shares paced gains after the High Court ruled that Parliament must approve the Article 50 process.The news set off an immediate bounce in cable, which was 1.07% higher to 1.2434 as of 1540 which fed through into sectors such as general retailers and REITs.Yet there were also company and sector-specific news-flow to take into account.Analysts Geoff Ruddell and Amy Curry at Morgan Stanley upgraded their recommendation on shares of Dixons Carphone from 'underweight' to 'equal-weight' following the de-rating in the stock price to what it considers "much more appropriate levels".Nevertheless, they admitted that the reason for the same had been Brexit and not the longer-term structural pressures on its mobile business which it had envisaged.In parallel, Berenberg nudged its target for shares of Just Eat from 600p to 620p.Life insurers were also higher, bouncing alongside yields on longer-dated Gilts.Investors in Tate&Lyle were rewarded after the company released better-than-expected first-half profits before tax of £140.0m (consensus: £131.0m).In reported terms, PBT was up by an even bigger 37% thanks to an FX tailwind.To take note of, in relation to steel-maker Evraz, market commentary highlighted a report from Goldman Sachs linking recent strength in iron ore prices to the weak Chinese yuan.Miners were lower amid widespread price weakness in the metals space, with three-month copper futures flat on the LME at $4,920.00 per metric tonne as of 1610, while similarly-dated zinc was the worst performer, losing 1.6% to $2,426 a metric tonne.Profit-taking among precious metals also weighed on the PGM miners, with Centamin being a notable exception after Egypt shifted towards a more flexible exchange rate regime.Top performing sectors so far todayGeneral Retailers 2,584.64 +2.27%Real Estate Investment Trusts 2,786.13 +2.06%Real Estate Investment & Services 2,384.84 +1.79%Life Insurance 6,898.70 +1.22%Food Producers & Processors 7,893.36 +1.04%Bottom performing sectors so far todayIndustrial Metals & Mining 1,906.71 -5.10%Chemicals 12,246.37 -2.26%Beverages 16,504.71 -2.25%Technology Hardware & Equipment 915.19 -2.06%Mining 13,686.15 -1.67%
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LONDON MARKET CLOSE: Astra And Moderna Vaccine News Push Stocks Up

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15 Jul 2020 10:48

UK WINNERS & LOSERS SUMMARY: Burberry Out Of Fashion As Sales Plunge

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15 Jul 2020 09:44

Dixons Carphone Sees Covid Hit To Mobile Phones Business

Dixons Carphone Sees Covid Hit To Mobile Phones Business

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15 Jul 2020 08:08

LONDON BRIEFING: UK Inflation Rises But Tempered By Low Energy Prices

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15 Jul 2020 07:54

Dixons Carphone profits slump following Covid store closures

(Sharecast News) - Dixons Carphone posted a slump in full-year profits on Wednesday, pinning the blame on weakness in the mobile division and store closures due to the coronavirus pandemic.

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8 Jul 2020 16:07

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

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11 Jun 2020 12:25

UK job cuts mount as Covid-19 takes its toll

(Sharecast News) - UK job losses continued to mount in their thousands on Thursday as Centrica, Johnson Matthey and Bombardier became the latest companies to announce large reductions to their workforces in the Covid-19 crisis.

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9 Jun 2020 09:27

UK BROKER RATINGS SUMMARY: Citi Cuts Biffa To Sell From Neutral

UK BROKER RATINGS SUMMARY: Citi Cuts Biffa To Sell From Neutral

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26 May 2020 09:48

UK BROKER RATINGS SUMMARY: Goldman Cuts Ascential To Neutral From Buy

UK BROKER RATINGS SUMMARY: Goldman Cuts Ascential To Neutral From Buy

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20 May 2020 09:26

UK BROKER RATINGS SUMMARY: Deutsche Bank Upgrades Compass To Buy

UK BROKER RATINGS SUMMARY: Deutsche Bank Upgrades Compass To Buy

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12 May 2020 10:54

Morgan Stanley downgrades Dixons and Superdry, forecasts 62% slide in sector earnings

(Sharecast News) - Morgan Stanley has re-rated a swathe of retailers, warning that earnings are likely to tumble this year and the next as long-term consumer spending patterns undergo a fundamental shift.

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12 May 2020 09:42

UK BROKER RATINGS SUMMARY: Morgan Stanley Weighs In On UK Retailers

UK BROKER RATINGS SUMMARY: Morgan Stanley Weighs In On UK Retailers

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4 May 2020 13:34

Monday broker round-up

(Sharecast News) - Go-Ahead Group: Canaccord upgrades to buy with a target price of 1,650p.

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4 May 2020 09:33

UK BROKER RATINGS SUMMARY: Buy Dixons Carphone And AG Barr - Liberum

UK BROKER RATINGS SUMMARY: Buy Dixons Carphone And AG Barr - Liberum

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29 Apr 2020 09:15

Dixons Carphone Axes Payout But Online Sales Get Bread Baking Boost

Dixons Carphone Axes Payout But Online Sales Get Bread Baking Boost

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