We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
FTSE 100 Index | FTSE:UKX | FTSE Indices | Index |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
17.67 | 0.21% | 8,445.80 | 8,474.41 | 8,427.92 | 8,428.13 | 0 | 16:35:30 |
MARKET WRAPS
Watch For:
Housing Starts for July; Industrial Production and Capacity Utilization for July; Canada Housing Starts for July; Canada Consumer Price Index for July; earnings from Walmart, Home Depot
Opening Call:
Stock futures dipped on Tuesday ahead of results from major retailers that could offer clues about consumer behavior during a period of rampant inflation.
Investors are eyeing a week of key retail earnings, with Walmart and Home Depot set to post results later Tuesday.
On Wednesday, the FOMC will publish the minutes from its policy meeting in July, with the minutes closely read for signals on the Fed's next move.
Tim Pagliara, chief investment officer at CapWealth, said a few softer inflation readings "doesn't mean the Fed will slow or even pause the pace of rate hikes, which is what the market is expecting."
Pagliara said the recent market "melt-up" was "more akin to a bear market rally and we remind investors that the dot-com bubble saw four bear market rallies of 20% or more, with each one testing new lows."
European stocks edged higher for a five-session winning streak, while Asian shares finished mixed, with a tech selloff htting Hong Kong's Hang Seng.
Stocks to Watch:
An economic slowdown is encroaching on Apple, which has reportedly laid off 100 contract workers in charge of recruiting.
Those made redundant--across several regions--were informed Apple needed to make adjustments for its current business climate, according to a Bloomberg report on Tuesday that cited sources close to the company.
Not all of its contract workers were let go, and full-time employees involved in recruiting are being retained, the report said.
A representative for Apple didn't immediately respond to a request for comment by MarketWatch.
Read more here.
Forex:
The dollar could rise further in the near-term, supported by the energy shock, uncertainty over whether the PBOC will engineer another mini-devaluation in the renminbi and improved U.S. economic data, ING said.
The energy independence of the U.S. leaves the dollar relatively insulated to rising energy prices, ING added.
Data on industrial production later Tuesday and retail sales on Wednesday should ease recession fears, ING said. "106.95/107.00 looks like the near-term target for the DXY Dollar Index."
---
Sterling was little moved after the latest U.K. employment data as investors look ahead to Wednesday's key inflation print.
"The employment reading indicates a robust jobs market and will provide the Bank of England further reason to continue on its current trajectory for a higher interest rate environment," Silicon Valley Bank said.
The U.K. unemployment rate was little changed at 3.8% in the three months to June while the number of people in employment increased 160,000 over the quarter and average earnings excluding bonuses rose 4.7% following 4.4% growth in the previous quarter.
Bonds:
The prospect of a slowdown of economic activity makes UBS Asset Management "rather cautious" in its positioning in government bonds, considering selloffs as an entry opportunity.
"Risk assets have not yet priced in the extent of this economic slowdown, " UBS AM said, staying underweight stocks and using selloffs in bonds as an opportunity to increase exposure to sovereign fixed income.
It sees balanced risks to developed-market sovereign yields outside the U.S., and sees Treasurys remaining the world's pre-eminent haven and top source of risk-free yield.
Energy:
Crude futures were more than 1.5% lower in Europe, extending Monday's hefty losses, on the prospects of a revival of the Iran nuclear deal and the subsequent resumption of Iranian oil exports.
DNB Markets said that could see Iran increase production by 1 million barrels a day within 9 months from current levels of 2.5 million barrels.
Metals:
Metals prices edged lower in European trading hurt by a strong dollar that spiked on Monday after China had cut rates to add some stimulus to its lockdown-hit economy.
"The macro mood feels heavier this morning," Peak Trading Research said, noting that the Chinese yuan, the number one importer currency, had fallen after the PBOC rate cuts.
TODAY'S TOP HEADLINES
Activist Politan Capital Has 9% Stake in Masimo
An activist investor has a big stake in Masimo Corp. and plans to push the medical-device company to take action to improve its stock price following a poorly received acquisition, according to people familiar with the matter.
Politan Capital Management LP, founded by veteran activist Quentin Koffey, has a 9% stake in Masimo worth roughly $750 million, the people said. Politan's specific ideas couldn't be learned.
Dan Loeb's Third Point Calls for Disney to Spin Off ESPN, Refresh Board
Activist investor Dan Loeb's Third Point LLC has bought a new stake in Walt Disney Co. and is calling on the media company to buy the rest of Hulu, explore spinning off ESPN and refresh its board.
Mr. Loeb on Monday said his firm, which liquidated a large Disney stake earlier this year, has repurchased a "significant stake" in the company and sent a letter to Disney Chief Executive Bob Chapek urging the company to engage with Third Point on a number of issues.
WWE Says Probe of Vince McMahon Is 'Substantially Complete'
An investigation by World Wrestling Entertainment Inc.'s board of directors into allegations of sexual misconduct against former chairman and chief executive Vince McMahon is "substantially complete," the company said in a securities filing on Monday.
The internal investigation, announced in June, found roughly $20 million in expenses that should have been recorded in the company's financial statements, including $14.6 million that Mr. McMahon agreed to pay women to settle allegations of sexual misconduct from 2006 to 2022, according to people familiar with the deals. Earlier this month, the company disclosed additional payments in 2007 and 2009 totaling $5 million that it said were unrelated to the allegations of misconduct that led to the investigation.
There Is No Preset Path for Australian Rate Rises, RBA Says
SYDNEY-The Reserve Bank of Australia is staying flexible on the size and pace of future interest-rate rises, underlining in the minutes of its Aug. 2 board meeting the need to respond to a shifting inflation outlook and labor data.
The minutes, published Tuesday, repeated the RBA's warning that the path to reining in inflation while maintaining economic growth is narrow.
UK Unemployment Rate Increased Modestly in Three Months to June
The unemployment rate in the U.K. rose slightly in the three months to June, although the country's labor market remained tight.
The U.K.'s unemployment rate stood at 3.8% in the three months through June, up from 3.7% in the preceding three-month period, according to data from the Office for National Statistics published Tuesday.
Explosions Hit Russian Ammunition Depot in Crimea
Russian authorities reported explosions at an ammunition depot in Crimea on Tuesday morning, a week after blasts at a Russian air base on the peninsula appeared to destroy several warplanes.
The new explosions took place at a temporary ammunition dump at a former farm near the village of Maiske in northern Crimea, a local official told Russia state news agency TASS. Local authorities are evacuating Maiske.
Merrick Garland Weighed Search of Trump's Mar-a-Lago for Weeks
WASHINGTON-Attorney General Merrick Garland deliberated for weeks over whether to approve the application for a warrant to search former President Donald Trump's Florida home, people familiar with the matter said, a sign of his cautious approach that will be tested over the coming months.
The decision had been the subject of weeks of meetings between senior Justice Department and FBI officials, the people said. The warrant allowed agents last Monday to seize classified information and other presidential material from Mar-a-Lago.
Former Trump Organization Finance Chief Set to Plead Guilty
The Trump Organization's former finance chief is expected to plead guilty later this week to criminal charges stemming from his indictment on tax-fraud charges, according to people familiar with the matter.
A court hearing is scheduled Thursday morning for longtime chief financial officer Allen Weisselberg, records show. The guilty plea, which is expected to carry a sentence of five months in jail, isn't final, the people said. Mr. Weisselberg isn't expected to cooperate with Manhattan prosecutors as part of the deal, according to the people.
Record Numbers of Migrants Arrested at Southern Border, With Two Million Annual Total in Sight
Record numbers of migrants are being arrested while crossing the southern U.S. border with Mexico, a sustained surge of single men and families from across Latin America either seeking asylum or work, according to new figures Monday from U.S. Customs and Border Protection.
Border Patrol agents have made about 1.82 million arrests at the southern border so far in the government's fiscal year, which runs from October to the end of September. The number beats the record set last fiscal year, which was 1.66 million apprehensions in the year ending September 2021.
Camden Diocese Insurers Granted Permission to Challenge Bankruptcy Plan
A bankruptcy judge sided with insurers for the Diocese of Camden, allowing them to make their case against the church's reorganization plan to settle sexual-abuse claims at a trial in October.
In a court ruling on Friday, Judge Jerrold Poslusny said it was reasonable for insurers including Century Indemnity Co. and Lloyd's of London to oppose the plan that they said would harm their rights in future litigation over sex-abuse claims against the Catholic diocese in southern New Jersey.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Osisko Mining 2Q
Economic Indicators (ET):
0815 Jul Housing Starts
0830 Jun International transactions in securities
0830 Jul CPI
Stocks to Watch:
Anaergia 2Q Rev C$42.2M Vs. C$26.8M; Restated Annual Audited Fincl Statements for Yr Ended Dec 2021; Restatements Result of Previously Announced Discussions With Auditor KPMG Over Technical Acct Standard; No Change to Previously Disclosed Guidance for Fiscal 2022, 2023; Expects to Continue Growth Momentum, Improve Performance in Rest of Yr
---
Automotive Prop REIT 2Q Net C$31.2M
---
Big Rock Brewery 2Q Loss/Shr C$0.09; 2Q Loss C$588,000; 2Q Rev C$15.8M; 6-Mos Loss/Shr C$0.28 Vs. EPS C$0.05; 6-Mos Rev C$24.6M Vs. C$24.3M; Sales Affected by Unfavorable Industry Trends, Specifically in Value Beer Segment; Focusing on Continued Pdt Innovation, Dev in Premium Category; Engaging in Group Purchasing to Mitigate Inflationary Pressures; Co-packing Segment Continuing to Grow as Total Percentage of Rev
---
Inovalis REIT 2Q EPS C$0.14; 2Q Rev C$6.88M
---
Trevali 2Q Loss/Shr C$0.63 Vs. EPS C$0.04; 2Q Rev C$52.0M Vs. C$101.1M; Initiative to Refinance Debt Maturing in Sept Hasn't Advanced Sufficiently; No Assurance That Strategic Review to Solicit Proposals for Investment in Co, Potential Sale of All/Part of Business Will Progress in Timely Manner; Expects to Miss Prepayment on Revolving Credit Facility Due Aug 17; Still in Talks Senior Lenders Over Anticipated Breach of Terms, Potential Default of Facility
---
Tassal Agrees to A$1.1 Bln Takeover by Canada's Cooke
Tassal Group has agreed to be bought by Canada's Cooke in a takeover that values the Australian salmon producer at about $772.4 million.
Tassal on Tuesday said that its board unanimously recommended Cooke's all-cash offer of A$5.23 a share. Tassal previously rebuffed a A$4.85 indicative proposal from Cooke, which had already proposed A$4.67 a share and then A$4.80 a share.
The offer price assumes Tassal will not declare a final dividend. Tassal plans a shareholder vote in November and expects completion by the end of 2022.
Expected Major Events for Tuesday
04:30/JPN: Jun Tertiary Industry Index
06:00/UK: Jul UK monthly unemployment figures
09:00/GER: Aug ZEW Indicator of Economic Sentiment
12:15/CAN: Jul Housing Starts
12:30/CAN: Jun International transactions in securities
12:30/US: Jul New Residential Construction - Housing Starts and Building Permits
12:30/CAN: Jul CPI
12:55/US: 08/13 Johnson Redbook Retail Sales Index
13:15/US: Jul Industrial Production & Capacity Utilization
20:30/US: 08/12 API Weekly Statistical Bulletin
23:01/UK: Jul Scottish Retail Sales Monitor
23:50/JPN: Jun Orders Received for Machinery
23:50/JPN: Jul Provisional Trade Statistics for the Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Tuesday
Acer Therapeutics Inc (ACER) is expected to report $-0.88 for 2Q.
AgEagle Aerial Systems Inc (UAVS) is expected to report for 2Q.
Agilent Technologies (A) is expected to report $1.04 for 3Q.
Allena Pharmaceuticals Inc (ALNA) is expected to report $-0.48 for 2Q.
Archaea Energy Inc (LFG) is expected to report for 2Q.
Bio-Path Holdings Inc (BPTH) is expected to report for 2Q.
Cue Biopharma Inc (CUE) is expected to report $-0.47 for 2Q.
Empire Petroleum Corp (EP) is expected to report for 2Q.
FTI Consulting (FCN) is expected to report $1.74 for 4Q.
Flanigan's Enterprises Inc (BDL) is expected to report for 3Q.
GEE Group Inc (JOB) is expected to report $0.01 for 3Q.
Global-E Online Ltd (GLBE) is expected to report for 2Q.
Greenlane Holdings Inc (GNLN) is expected to report for 2Q.
Home Depot Inc (HD) is expected to report $4.96 for 2Q.
Interpace Biosciences Inc (IDXG) is expected to report for 2Q.
Jack Henry & Associates Inc (JKHY) is expected to report $1.00 for 4Q.
Janus International Group Inc (JBI) is expected to report for 2Q.
Lulu's Fashion Lounge Holdings Inc (LVLU) is expected to report for 2Q.
Lumentum Holdings Inc (LITE) is expected to report for 4Q.
MGT Capital Investments (MGTI) is expected to report for 2Q.
Melco Resorts & Entertainment Ltd (MLCO) is expected to report $-0.41 for 2Q.
NexImmune Inc (NEXI) is expected to report for 2Q.
Orgenesis Inc (ORGS) is expected to report $-0.02 for 2Q.
P3 Health Partners Inc (PIII) is expected to report for 1Q.
PAVmed Inc (PAVM) is expected to report $-0.23 for 2Q.
Premier Inc (PINC) is expected to report $0.47 for 4Q.
QuickLogic Corp (QUIK) is expected to report for 2Q.
SPAR Group Inc (SGRP) is expected to report for 2Q.
Simply Inc (SIMPQ) is expected to report for 1Q.
StageZero Life Sciences Ltd (SZLS.T) is expected to report for 2Q.
Tofutti Brands (TOFB) is expected to report for 2Q.
Vidler Water Resources Inc (VWTR) is expected to report for 2Q.
Walmart Inc (WMT) is expected to report $1.82 for 2Q.
Yunhong CTI Ltd (CTIB) is expected to report for 2Q.
Powered by Onclusive and Dow Jones.
ANALYST RATINGS ACTIONS
1Life Healthcare Cut to Hold From Buy by Jefferies
Air Products & Chemicals Raised to Outperform From Market Perform by BMO Capital
American Equity Cut to In-Line From Outperform by Evercore ISI Group
Avalara Cut to Market Perform From Outperform by Raymond James
Charter Communications Cut to Neutral From Overweight by Atlantic Equities
CME Group Cut to Market Perform From Outperform by Raymond James
Comcast Cut to Neutral From Overweight by Atlantic Equities
Cullen/Frost Bankers Raised to Buy From Neutral by Compass Point
Dollar General Cut to Market Perform From Outperform by BMO Capital
Equifax Cut to Neutral From Overweight by Atlantic Equities
Franklin Electric Cut to Neutral From Buy by Northcoast Research
Green Dot Cut to Equal-Weight From Overweight by Barclays
Home Point Capital Cut to Neutral From Outperform by Wedbush
IDEAYA Biosciences Cut to Hold From Buy by Stifel
Illinois Tool Works Cut to Sell From Hold by Deutsche Bank
Kinsale Capital Group Cut to Neutral From Buy by Compass Point
Kiora Pharmaceuticals Cut to Hold From Buy by Maxim Group
Lindsay Cut to Neutral From Buy by Northcoast Research
McDonald's Raised to Buy From Neutral by Kalinowski Research
Plains All American Raised to Buy From Hold by Stifel
Plains GP Holdings Raised to Buy From Hold by Stifel
PLx Pharma Cut to Market Perform From Market Outperform by JMP Securities
PLx Pharma Cut to Perform From Outperform by Oppenheimer
Poshmark Raised to Overweight From Equal-Weight by Barclays
PPL Corp Raised to Buy From Neutral by B of A Securities
Press Release: Nearly 60% of Renters saw Rent Increase in Past 12 Months
Quanterix Cut to Hold From Buy by Canaccord Genuity
RCM Tech Raised to Buy From Neutral by B. Riley Securities
Revolve Group Cut to Underweight From Equal-Weight by Barclays
Ryerson Holding Coverage Assumed by BMO Capital at Outperform
Shift Technologies Cut to Underweight From Neutral by JP Morgan
Southwest Airlines Cut to Hold From Buy by Argus Research
TaskUs Cut to Equal-Weight From Overweight by Morgan Stanley
Truist Financial Cut to Neutral From Buy by Compass Point
Vroom Cut to Underweight From Neutral by JP Morgan
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
August 16, 2022 05:06 ET (09:06 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year FTSE 100 Chart |
1 Month FTSE 100 Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions