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European equities rise as traders bet on rate cuts

Risk appetite was plentiful on Thursday upon the opening bell on equity exchanges in the European Union. The International Monetary Fund's substantial downgrades to economic growth projections and ugly numbers on manufacturing spurred hopes in the renewal of stimulus by the European Central Bank. Policymakers, who are meeting today and are due to issue a monetary policy update, have been expressing willingness to lower interest rates and the least the market expected for today was enhanced guidance and a schedule for asset purchases.

Stocks were helped by a general if not strong improvement in company results as the earnings season kicked into higher gear. Safe haven gold was insignificantly lower at 9:17 am CET, selling for $1,425.5 per ounce and silver retreated 0.25% to $16.55 for one troy ounce. The euro slipped 0.09% to $1.11301, nearing a two-month low, and just 0.03% to £0.89208, as it looked to touch the weakest point in almost five weeks. The pound moved 0.06% to the red to change hands for $1.2477.

The FTSE 100 was up by a mere 0.05% after a somewhat more upbeat start. The German DAX index gained 0.22% led by Deutsche Bank's 1.7% surge. The CAC 40 rallied 0.72%.

Breaking the News / IT

Stocks in EU rise ahead of ECB's policy decision

Interest rates were in focus on Thursday on the financial markets and anticipation of an increase in borrowing costs determined by the European Central Bank helped equity indexes moderately higher.

The euro slipped 0.08% at 8:54 am CET to $1.11316 and added 0.06% to change hands for £0.89286. The pound retreated 0.14% to $1.24669. Gold was marginally lower at $1,425.03 per ounce and silver fell 0.31% to $16.54 for one troy ounce.

The FTSE 100 rose 0.37% before the bell. The German DAX was 0.56% in the green and the CAC 40 advanced 0.81%.

More to come...

Breaking the News / IT

A slight lowering of full year guidance versus return of the dividend... I don’t think there’s much downside, better chance of pps movement from Iran tension and a possible pop from the drill report in first half of August... or not!

Reuters

https://uk.reuters.com/article/uk-tullow-results/tullow-oil-restores-dividends-with-33-million-payout-idUKKCN1UJ0KC?il=0

Europe lower in premarket trading on earnings, data

European stocks traded lower in Wednesday's premarket session amid the continuation of the earnings season. Deutsche Bank AG, Daimler AG, and Groupe PSA all presented their financial results for the second quarter of 2019 before the opening bell. Yesterday, the European Commission reported an unexpected increase in the consumer confidence in the Eurozone, while the International Monetary Fund once more trimmed its global economic forecast for the current year.

The FTSE 100 was down 0.06% at 8:07 am CET, while the DAX gained 0.13% at the same time. In Paris, the CAC 40 was trading flat an hour before the opening bell.

The euro lost 0.02% against the dollar to sell for 1.1148 at 0:09 am CET, while the pound rose by 0.04% versus the greenback to go for 1.2443.

Breaking the News / MA

Kalimera2, thank you for taking the time to post the article...

I’m a sucker of press comments on any company but it’s it brings heightened interest from other investors.
In my opinion Centamin’s time at current prices will be short lived.
Thanks again fo the post.

European stocks gain premarket ahead of Tory race results

Stocks in Europe posted gains in Tuesday's premarket trading, ahead of the announcement of whether Boris Johnson or Jeremy Hunt will succeed Theresa May as prime minister of the United Kingdom. The membership of the Conservative Party voted through a postal ballot on the next leader of the party, who automatically becomes the head of government. Former Foreign Secretary Johnson is widely expected to beat the sitting top diplomat by a large margin.

The earnings season is heating up, with UBS reporting higher earnings per share and reported profit before tax in the second quarter.

The DAX increased 0.57% at 8:00 am CET, as London's FTSE 100 added 0.35% in premarket trading. French CAC 40 was up by 0.21% at the same time.

The euro was 0.16% lower against the dollar at 8:02 am CET, going for $1.11908, while the British pound sank 0.15%, changing hands for $1.24567 at 8:03 am CET.

Breaking the News / NI

Europe trades mostly flat premarket, UK PM race in focus

Stocks on major European markets were little changed in Monday morning's premarket trading, as the Conservative leadership race in the United Kingdom nears its end. Conservative Party's membership voted to elect the new British prime minister and the results are expected on Tuesday morning. It is widely expected the winner will be Boris Johnson, former foreign secretary and prominent Brexiteer. Investors are also anticipating the interest rate decision by the United States central bank this week. Some statements from the Fed indicated there could be a rate cut due to increasing uncertainties.

Both the DAX and the FTSE 100 were flat at 7:55 am CET. The CAC 40 lost 0.08% at 7:51 am CET.

The euro and the pound traded flat against the dollar, buying $1.12172 and $1.25006 at 8:01 am CET, respectively.

Breaking the News / NI

Barrick Gold to buy Acacia Mining for £951M

Barrick Gold Corp. is buying Acacia Mining plc in an all stock deal valued at £951 million, the gold mining companies announced on Friday.

Acacia's stockholders are set to receive 0.168 Barrick shares for each share they own. The transaction values Acacia's shares at £2,32, a 53.5% premium on the closing price on May 20, the last business day prior to the announcement of the possible acquisitions.

Barrick, which recently failed to acquire Newmont Mining Corp., formed a joint venture with Newmont Mining Corp. in Nevada.

Breaking the News / MD

Rtq: £1.18.7.... that’s what I was getting at, the lid is off the trading range.

European stocks trade in green premarket

Shares on major European stock markets rose premarket on Friday despite rising geopolitical uncertainties. Last night, the United States claimed it shot down an Iranian drone, while Tehran failed to confirm it lost the aircraft. Meanwhile, local media reported at least three ministers in the United Kingdom's government plan to resign if Boris Johnson becomes the next prime minister.

The FTSE 100 was up 0.49% at 7:55 am CET, while the DAX increased 0.65%. At the same time, the CAC 40 rose 0.66%.

The euro slipped 0.19% against the dollar at 7:55 am CET to change hands for 1.12560, while the pound fell 0.13% to $1.25298.

Breaking the News / MD

Gold reaches six-year high as US, Iran tensions flare

Precious metals continued to rise on Thursday with the price of gold jumping to the highest point since May 2013 following the news that the United States Navy shot down an Iranian drone in the Strait of Hormuz.

Gold was up 1.37% at $1,445.93 per ounce as of 10:25 am CET. Silver was 2.31% higher at $16.34 and platinum gained 0.90% to $852.26 for one troy ounce. At the same time, palladium was down 0.38% to $1,530.90 per ounce.

Breaking the News / MD

It’s hard to arrive at a conclusion on how the market reacted to Centamin today.
The nil response is what is seen on the surface but if the 1/2 results clear the way for the pps to access higher prices then the response isn’t nil at all. I expected some increase in the second 1/2 guidance and thought the market would have given credit on that, although someone pointed out earlier that gold has only been in the $1400’s for a month or so.
All the changes in the Egyptian government on mine licences, well reported by Cowichan may come public knowledge out of the blue.. a Sunday Times story or some other source.
There’s one thing Centamin can’t be found guilty of and that’s loudmouthing about how great they are..
No forward sounding statements... ever!

https://www.proactiveinvestors.co.uk/companies/news/224118/centamin-eyes-production-upside-in-second-half-224118.html

Asos said that its full-year profits will be impacted by £47m of "transition costs" related to ongoing problems with its warehouse facilities in the US and Europe.

It will also incur £3.5m in restructuring costs.

Asos announced back in 2017 that it would open a new ecommerce fulfilment centre in Atlanta - the same year it opened a new warehouse in Berlin.

The retailer said that sales in the EU over the four months to 30 June rose by 5% after being affected by weaker availability of stock because of problems with new software.

It added that US sales growth of 12% was also held back because of stock issues.

In contrast, the UK performed strongly with revenue up 16%. Total sales across Asos rose by 12%.

Posted at 7:097:09
BREAKING
Asos warns on profits
Asos, the online fashion retailer, has warned that full-year profits will now be between £30m and £35m.

This is because of difficulties with new warehouse facilities in the US and Europe.

More to follow.

Stocks in EU drop before bell on trade war, earnings

Indexes at European exchanges were sharply lower in premarket on Thursday. Market participants were pessimistic regarding risk as corporate earnings season began with Novartis and SAP as the first two majors. Trade war concerns increased on reports that bilateral negotiations between the United States and China got stuck again over Huawei's controversial activity and allegations by the administration in Washington of national security issues.

Precious metals were stronger with the exception of gold. Its spot price slipped 0.24% to $1,422.94 per ounce at 8:02 am CET. The euro advanced just 0.15% to $1.12413 and 0.1% to £0.9037. The pound gained a mere 0.05% to $1.24396.

The FTSE declined 0.44% before the opening bell in London. The DAX was looking to open 1.03% lower and the French CAC 40 retreated 0.58%. The Euro Stoxx 50 dropped 0.55%.

Breaking the News / IT

The company is still making as much money today as it did yesterday.
Some analysts has done a projection on falling oil demand due to the introduction of electric cars. I personally believe electric cars are a hard sell so am anticipating disappointing sales in the near term at least.
Let’s hope Tullow make good use of next Wednesday to show the market the company is doing well and more worthy of a £2.50 share price than £2.

Oil trades higher as US stockpiles decline

Crude futures traded with gains on Wednesday, recovering some of the losses suffered during the previous session, after private data showed a decline in United States oil inventories.

The American Petroleum Institute (API) said on Tuesday that the country's crude stockpiles fell by 1.4 million barrels to 460 million barrels last week. Official weekly oil inventories figures from the US Energy Information Administration (EIA) are scheduled for release later in the day.

West Texas Intermediate (WTI) for settlements in August rose 0.68% to go for $58.01 per barrel at 7:01 am ET and international benchmark Brent for September delivery jumped 0.98% to sell for $64.97 per barrel.

Breaking the News / NP

Europe trades lower in premarket ahead of inflation data

Europe was lower in premarket trade on Wednesday as investors awaited inflation data from the European Union and the United Kingdom. Focus in politics remained on Brexit after the EU picked Ursula von der Leyen to be its new European Commission president. In her speech before MEPs on Tuesday, Von der Leyen said she would be willing to grant the UK a second Brexit extension, past October 31. Meanwhile, reports suggested Tory leadership race front runner Boris Johnson would like to hold a general election in the UK sometime in the next 12 months.

The DAX declined 0.10% at 8:52 am CET while the FTSE 100 in London fell 0.20% at 8:53 am CET. France's CAC 40 lost 0.19% at 8:53 am CET.

The euro declined 0.08% against the dollar to go for 1.12018 at 8:54 am CET. The pound fell 0.17% against the greenback to 1.23859 at 8:55 am CET as it fell further after hitting 2017 lows a day earlier.

Breaking the News / VP