Greg Secker – U.K. Market update brought to you by Traders University

UK Stock Market Report 30th September 2010

FTSE 100 fell 0.2% to 5,569.3. FTSE 250 added 0.1% to 10,562.5.
UK markets closed mixed yesterday, as gains in stocks receiving upgrades from brokers were offset by losses in banks and drug makers. Carnival, Rolls- Royce Group, and Wolseley, gained between 1.8% and 6.4%, after a slew of brokers issued a positive note on these stocks. BP climbed 3.9%, on speculation that the company might avoid prosecution over the Gulf of Mexico oil spill. However, gains were offset by losses in banks, HSBC, Standard Charter and Royal Bank of Scotland, all down between 0.3% and 1.6%, on persisting worries about European sovereign debt crisis, after S&P took a negative stance on nationalised bank Anglo Irish. Investor sentiments were also hurt by a fall in UK mortgage lending. Drug makers, AstraZeneca, Shire and GlaxoSmithkline, dropped between 1.1% and 1.9%, after RBS downgraded the sector heavyweight AstraZeneca, citing current valuation parameters.
Due for release today GFK Consumer Confidence, Nationwide HPI, MPC Member Tucker Speaks, BOE Credit Conditions Survey, MPC Memper Fisher Speaks.

UK Stock Market report 29th September 2010
FTSE 100 gained 0.1% or 5.0 points to 5,578.4. FTSE 250 dropped 0.1% or 10.2 points to 10,552.4. 

UK markets closed mixed yesterday, as losses in banks, travel and defence
stocks were offset by gains in miners. Banks, Royal Bank of Scotland,
Standard Charter and HSBC, lost between 0.2% and 1.6%, on persisting
worries about European sovereign debt crisis. Thomas Cook, down 6.3%, led
travel & tourism stocks lower as the company warned about a likely fall in its
operating profit due to uncertain economic conditions. Defence stocks, BAE
Systems and Cobham, dropped 2.3% and 0.2% respectively, as investors
sentiments dampened, ahead of an inaugural meeting of the National
Security Council, and following comments from their peer, QinetiQ,
regarding pessimism over cuts in defence spending in UK and US. However,
losses were offset by gains in miners, Xstrata, Kazakhmys and Anglo
American, all up between 0.8% and 2.3%, as a weak dollar pushed up base
metal prices. Upbeat UK second quarter GDP and September retail sales data
helped the FTSE 100 index to end in the black.
Due for release today Net lending to Individuals

UK Stock Market report 28th September 2010

 
FTSE 100 dropped 0.5% or 25.1 points to 5,573.4. FTSE 250 gained 0.2% or 23.7 points to 10,562.7.  UK markets closed mixed yesterday, as gains in miners and software makers were offset by losses in banks. Miners, Kazakhmys, Vedanta Resources and BHP Billiton, gained between 0.02% and 1.5%, in line with an initial rise in base metal prices. Software makers, Sage Group and Autonomy Corp., added 3.1% and 1.6% respectively, after Barclays Capital initiated coverage on the software services sector with a positive stance. However, gains were offset by losses in banks, Lloyds Banking Group, Royal Bank of Scotland and Barclays, all down between 0.3% and 1.1%, after the Moody’s downgraded its rating on the Anglo Irish bank’s lower-grade debt.
Due for release today Current Account, Final GDP, CBI Realised Sales and MPC Member Posen Speaks

UK Stock Market Report 27 th September 2010

FTSE 100 rose 0.9% to 5,598.5. FTSE 250 gained 1.1% to 10,539.0.
UK markets closed higher on Friday, with the FTSE 100 index snapping its losing streak of three consecutive sessions, after upbeat US durable goods report and steady home sales data helped ease concerns about global economic recovery. Banks, Standard Chartered, Royal Bank of Scotland and HSBC, climbed between 0.4% and 3.6%, as risk appetite increased among the investors. Oil producers, BG, Petrofac and Royal Dutch Shell, added between 0.5% and 2.8%, in line with a rise in crude oil prices. Defence stocks, BAE Systems, Rolls-Royce Group and Cobham, gained between 0.9% and 3.1%, as orders for US capital equipment rebounded in August. Investor confidence was also boosted by an unexpected rise in German business sentiments.

UK Stock Market report

FTSE 100 dropped 0.1% to 5,547.1. FTSE 250 fell 0.2% to 10,426.0. UK markets closed marginally lower yesterday, with the FTSE 100 index registering losses for the third consecutive session despite its last hour rally, amid renewed concerns over Irish sovereign debt crisis and weakening global economic recovery. Banks, Lloyds Banking Group, Standard Chartered and Barclays, lost between 0.2% and 1.0%, as risk aversion increased among the investors. Drug makers, AstraZeneca, GlaxoSmithkline and Shire, dropped between 0.8% and 1.1%, after Exane BNP Paribas downgraded AstraZeneca and Shire in its sector review. Henderson Group, Man Group and Vodafone Group, also declined between 0.3% and 5.0%, as various brokers took a negative stance on these stocks. However losses were restricted by gains in miners and oil producers, as base metal and oil prices rose.

Liverpool’s bank lenders may be willing to extend their loans to the club but only for a short period to allow time for it to find a buyer, people close to the situation say.

With owners Tom Hicks and George Gillett struggling to put together a refinancing of the club’s £280m debts owed to Royal Bank of Scotland and Wachovia, Christian Purslow, managing director, said on Wednesday that a small number of parties were carrying out due diligence.