^FTSE - FTSE 100
| Previous Close | 6,076.60 |
| Open | 6,076.60 |
| Volume | 0 |
| Day's Range | 6,076.60 - 6,179.34 |
| 52 Week Range | 4,898.80 - 7,727.50 |
| Avg. Volume | 1,349,178,240 |
- MarketWatch
Here’s why the ‘unloved but welcome’ U.S. stock market rally from March lows won’t last, Goldman says
Investors had breathed a sigh of relief on Friday when President Donald Trump chose not to mention sanctions or tariffs at a press conference about China’s new security law in Hong Kong. Futures traders had initially shrugged off a weekend of protests against police killings of black people. After opening lower the Dow Jones Industrial Average (DJIA) reversed losses after the Institute for Supply Management manufacturing index indicated the slowdown in factory production may soon come to an end.
- MarketWatch
Primark’s owner rallies as most stores to reopen in June without discounting
Shares of Primark owner Associated British Foods rallied on Monday as the company said most of the clothing retailer’s stores would be open by the end of the month.
- TheStreet.com
Dow Futures Edge Lower As Protests Over the Death of George Floyd Rage In Several US Cities
The most significant U.S. protests since 1968 are keeping investors cautious Monday, even as data from China's powerful manufacturing economy boosts global stocks as the coronavirus pandemic wanes.
- MarketWatch
Stocks in Europe surge as focus returns to reopening economies
European stocks rallied on Monday as a lack of escalation in U.S.-China tensions put the focus back on reopening of the world’s economies.
- MarketWatch
European stocks jump after Trump doesn't escalate China tensions
European stocks rallied on Monday, with the U.K. FTSE 100 up 1.5% and the France CAC 40 up 1.6%, gaining ground in the first opportunity for traders in Europe to react to President Donald Trump's Friday news conference on China, in which he took no new steps to punish the world's second-largest economy over its new national security law for Hong Kong. The de-escalation helped stocks resume their upward path as economies reopen that has pushed the Stoxx Europe 600 up over 9% over the last two months. The euro rose to the highest level since the middle of March on hopes for the European Union's 750 billion euro rescue fund. Futures on the Dow Jones Industrial Average rose 106 points as markets brushed aside sweeping nationwide protests and violence.
- Financial Times
The European PMIs look troubling
The purchasing managers’ indices are among the world’s most closely watched economic indicators, moving markets and provoking policymakers to act. The polls — most of which are compiled by data firm IHS Markit — offer an early sign of how well, or badly, the economy is faring. While GDP data are only available with a lag of, at best, four weeks after the end of each quarter, the PMIs offer a near-instantaneous insight into how well activity has fared over the past month.
- Financial Times
Companies should start showing more national loyalty
During the coronavirus crisis, democratic governments have discovered — again — that businesses act in their own interest, not in the interests of the country where they happen to be based. Ryanair chief executive Michael O’Leary wants to relaunch 40 per cent of flights in July, whether or not it suits Ireland, the UK or any other government. The issue predates the pandemic: UK entrepreneur James Dyson, a vocal supporter of Brexit Britain’s economic potential, has moved his company’s headquarters to Singapore.
- MarketWatch
Dow ends modestly higher as Wall Street looks beyond civil unrest to hopes for economic recovery
U.S. stocks booked modest gains Monday, after retracing losses earlier in the session, as the potential for an economic rebound overshadowed strife in American cities that has led to chaos and curfews.
- Barrons.com
Tesla, Space Stocks Are Soaring. China Tensions, Protests Fail to Move the Dow.
The main U.S. stock indexes were near the break-even line despite tension between the U.S. and China and the nationwide protests over the death of George Floyd in Minneapolis.
- Financial Times
FTSE 100 faces big reshuffle as pandemic takes its toll
The FTSE 100 is set for its biggest shake-up in more than four years after the impact of coronavirus wiped out revenues for companies in travel and aviation but boosted others in emergency services and technology. EasyJet and Carnival, the cruise ship operator, are expected to fall into the FTSE 250, according to share prices on Friday that have more than halved since the onset of the pandemic. Dropping out of the FTSE 100 is significant for companies given the access to tracker or exchange traded funds that only follow the index of the UK’s top companies.
- Zacks
The Zacks Analyst Blog Highlights: Bayer Aktiengesellschaft, InflaRx, Legrand, Innate Pharma and DiaSorin
The Zacks Analyst Blog Highlights: Bayer Aktiengesellschaft, InflaRx, Legrand, Innate Pharma and DiaSorin
- TheStreet.com
Dow Futures Slip Lower Ahead of Trump Response to China's Hong Kong Security Bill
President Donald Trump will hold a news conference later today to outline the formal U.S. response to China's move to tighten its grip on the island city of Hong Kong.
- MarketWatch
HSBC and Prudential drag down London stocks as investors eye U.S.-China tensions
London stocks came under pressure on Friday, putting a stop to a string of winning sessions as investors waited to hear what President Donald Trump will say about China at a planned press conference later.
- MarketWatch
European stocks fall on rising U.S.-China tensions
European stocks fell on Friday, ahead of a press conference by U.S. President Donald Trump over China and amid rising tensions between the countries, first over the coronavirus and now over Beijing’s fresh crackdown on Hong Kong.
- Financial Times
Stocks rebound after Trump pulls his punches on China
Wall Street turned higher late in Friday’s session after Donald Trump’s latest salvo aimed at China did not deliver the harsh sanctions traders had feared. The S&P 500 closed up 0.5 per cent and the Dow Jones Industrial Average ended little changed, recovering from a fall of more than 1 per cent, after the US president said in a scheduled address that his administration would revoke special trade privileges for Hong Kong. Analysts had been predicting a much more aggressive US response to Beijing’s approval of a national security law for Hong Kong.
- MarketWatch
European stocks fall as investors wait for Trump move on China
European stocks opened lower on Friday, with investors rattled by rising tensions between the U.S. and China. The Stoxx Europe 600 index fell 0.9%, while the German DAX dropped 1.2% and the FTSE 100 index fell 0.8%. U.S. equities fell into the close on Thursday after President Donald Trump said he would hold a news conference to discuss China on Friday. The U.S. has been expressing unhappiness with China, which just passed controversial new security laws for Hong Kong. Dow futures were down over 100 points. Among stocks on the move, shares of AstraZeneca PLC climbed 3.4% after the company reported strong results for a Phase III trial of its Tagrisso lung-cancer drug. Shares of Renault SA slid 4.5% after the French carmaker announced it would cut more than 14,000 jobs over 3 years. That was amid a weaker auto sector overall.
- Bloomberg
British Gas Owner’s 33-Year Reign in FTSE 100 Index Nears an End
(Bloomberg) -- British Gas’s more than three-decade connection to the U.K.’s blue-chip stock index looks set to come to an end after shares of parent Centrica Plc plunged by more than half this year.Analysts expect Centrica to be demoted from the FTSE 100 benchmark in a quarterly re-shuffle next week. That would represent a moment of historical significance for a stock that under different names has been ever-present in the gauge since 1986, the year that the Conservative government of Margaret Thatcher privatized British Gas through an initial public offering.The shares’ 56% slide this year has reduced the company’s market value to a level where it no longer passes the test to retain its position in the FTSE 100.“Centrica’s ejection would cap a multi-year share-price slide that dates back to a peak of almost 400 pence in 2013,” Russ Mould, investment director at brokerage AJ Bell, said in emailed commentary. The stock closed on Thursday at 39.05 pence, valuing the business at 2.3 billion pounds ($2.8 billion).According to guidelines from index provider FTSE Russell, a stock will be removed from the FTSE 100 if its market capitalization ranks 111 or below among eligible shares at the time of the re-balancing. At its current valuation, Centrica is the 140th biggest company on the FTSE All Share index. The next quarterly review will be based on June 2 closing prices and announced on June 3.The first half of 2020 has been torrid for Centrica, which suspended its dividend and paused a planned sale of North Sea oil and gas assets last month after the Covid-19 pandemic sapped energy demand and triggered a slump in crude prices. Chief Executive Officer Iain Conn stepped down in March after five years leading the group.But the share price fall dates back a lot further than that. On top of a longer-term slide in oil prices, the company has faced competition from smaller challengers like Octopus Energy and Bulb, while also being hit by a price cap by the U.K. Office of Gas and Electricity Markets. The shares are now 90% below a record high set in 2013.Tell SidBritish Gas Plc joined the FTSE 100 on Dec. 9, 1986 after a share sale that was promoted in a government television campaign urging Britons to spread word of the investment opportunity by telling “Sid,” a name that was meant to represent the general public.In 1997, the company, whose history stretches back more than 200 years, was split into separate firms, BG Plc and Centrica Plc. BG later became BG Group Plc and was bought by Royal Dutch Shell Plc in a deal announced in 2015.British Gas, under Centrica, has seen its share of the domestic market steadily decline over the past 15 years, according to Ofgem data, also losing ground to rivals like Electricite de France SA and SSE Plc.That said, a potential turnaround isn’t being ruled out by some analysts.“Following years of structural challenges faced by Centrica in the U.K. retail market, failed attempts to deliver growth in its consumer business and falling profits from its commodity-exposed units, we believe the worst is behind the company,” Citigroup analyst Jenny Ping wrote in a May 21 note.The company has sufficient liquidity to navigate volatile demand due to the pandemic, and a future simplification of the group could boost the shares, Ping wrote.A spokesman for Centrica declined to comment on the upcoming index review when reached by phone.Other stocks that might be demoted from the FTSE 100 in next week’s review include Princes and P&O cruise operator Carnival Plc, budget airline EasyJet Plc and plane-parts maker Meggitt Plc, reflecting the impact of the Covid-19 crisis on global travel demand, according to Helal Miah, an analyst at investment broker The Share Centre, who spoke by phone.That would potentially leave them vulnerable to selling by funds whose aim is to mirror the performance of the FTSE 100 -- known as tracker funds.Stocks that could be added to the benchmark gauge include cybersecurity firm Avast Plc, betting company GVC Holdings Plc and home emergency and repair services provider HomeServe Plc, Miah said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Investing.com
Stocks - Europe Lower Amid Nervousness Ahead of Trump Statement
Elsewhere, gold futures rose 0.2% to $1,717.70/oz, while EUR/USD traded at 1.1093, up 0.2% on the day.
- Financial Times
How investors learnt to love the rally in stocks
The bumper run in the US stock market is beginning to turn its doubters into believers, adding fresh thrust to a rally that has wrongfooted veteran investors, lured in retail traders, and defied the dire economic outlook caused by the global pandemic. The rally has built a legion of sceptics who worry the market is being driven entirely by Federal Reserve stimulus and that bullish investors are too confident a vaccine will emerge to rekindle corporate profits. “There’s an element of fear of missing out — FOMO — as investors start to look at the momentum,” said Emily Roland, co-chief investment strategist for John Hancock Investment Management in Boston.
- MarketWatch
European stocks climb for fourth straight session on growing enthusiasm over economies reopening
European stocks advanced on Thursday for a fourth straight session, on building enthusiasm over the reopenings of economies across the world.
- MarketWatch
Rolls-Royce shares slump as hedge fund sells stake
Rolls-Royce was the worst performing of the U.K. blue chips on Thursday, as a hedge fund sold its stake in the engine maker.
- TheStreet.com
Dow Futures Hold Gains After China Passes Sweeping Hong Kong Security Bill
China's move to tighten its grip on Hong Kong is likely to provoke a reaction from the White House, but stocks are holding onto early gains ahead of first quarter GDP data at 8:30 am Eastern time.
- Zacks
Europe Equities Are Hot on Stimulus Optimism: 5 Picks
Europe stocks rally on hopes that the European Union will unveil large stimulus package to reduce the economic fallout from the coronavirus pandemic.
- Financial Times
Reporting of UK companies’ gender pay gaps tumbles in pandemic
The number of UK organisations reporting on their gender pay gap has halved during the past year, adding to concerns that the coronavirus pandemic could set back equality in the workplace. The average pay gap increased from 11.9 per cent to 12.9 per cent in the year to April, according to Financial Times analysis of government figures — but only half of the 10,000 eligible UK employers submitted data to the government in the period. The UK government removed the requirement for companies to report their pay gaps this year at the onset of the coronavirus crisis in March in an attempt to help companies that were struggling to cope.
- Financial Times
Rolls-Royce downgraded to junk by S&P
Rolls-Royce has lost its investment-grade rating — held for the past 20 years — after Standard & Poor’s on Thursday downgraded the company to junk status because of “prolonged weak profitability” and expectations of materially lower cash flow from its engine service contracts. The downgrade is a severe blow to the aero-engine company, which only last week announced plans to cut 9,000 jobs, mainly from its civil aerospace division. It could also hit profitability of future long-term service contracts, as the perceived risk for customers of striking multiyear deals would increase.
