EU Market Open: March 31, 2016

uk.investing.com/analysis/eu-market-open-:-march-31,-2016-200123413

By Alphaseeker IM | Mar 31, 2016 09:45

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Europe opened marginally lower with the FTSE 100 down 0.8% and the DAX down 0.5% after a positive day yesterday, following oil’s lower moves after US stockpiles rose to a record high, increasing concerns of a global oversupply.

UK News
The GfK Consumer Confidence Index remained unchanged at 0 in March (vs -1 expected).

RBS (LON:RBS) said it has priced its 10-year, $1.5B aggregate principal amount of 4.800% Senior Notes.

TUI Group said holiday bookings for this summer were higher than last year as Europeans chose to holiday in Spain and further afield instead of destinations like Turkey, putting it on track to meet its annual target.

Mediclinic International Plc (LON:MDCM) issued a pre-close trading update for the 11 months ended February 29: “Continued strong patient growth across all operating platforms at stable margins.”

Homeserve (LON:HSV) said it has agreed to acquire Utility Services Partners Inc, a leading provider of home assistance service line repair contracts in the U.S. and Canada, for $75M in cash.

Premier Foods (LON:PFD) agreed on Wednesday to hold talks with McCormick & Co (NYSE:MKC) after the U.S. company raised its takeover proposal for a second time, pushing for a deal that would boost its stable of kitchen cupboard brands.

Global News
In Asia stocks were flat as a stronger yen trimmed the profit outlook for exporters and domestic retailers. Japan’s Nikkei rose 0.2%. Shanghai stocks climbed 0.5%.

Oil futures fell in Asian trade on Thursday, with U.S. crude hitting the lowest level in more than two weeks, with renewed worries of global oversupply after U.S. crude inventories rose to a record high. It ended up 12 cents in the previous session after touching a session peak of $40.61. U.S. crude futures lost 53 cents to $37.79 a barrel. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, data from the U.S. EIA shows.

In US stocks rose last night, helped by Yellen that eased anxiety about potential interest rate hikes. The S&P 500 gained 0.44% to end at 2,063.95 points.

MetLife's (NYSE:MET) shares rose 5.34% after a court ruled that the life insurer was not systemically important to the country’s financial system. Apple (NASDAQ:AAPL) rose 1.75% after Cowen & Co raised its rating on the stock to “outperform.”

Global Market Data:
09:30 GMT+1 UK Current Account
13:30 GMT+1 CAD GDP m/m
13:30 GMT+1 US Unemployment Claims

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FTSE 100	7,593.22	-32.50	-0.43%
DAX	15,217.45	-38.42	-0.25%
Euro Stoxx 50	4,131.65	+2.47	+0.06%
S&P 500	4,274.51	+0.98	+0.02%
Nikkei 225	31,796.50	-534.00	-1.65%
Dow Jones	33,550.27	-68.61	-0.20%
FTSE 100 Futures	7,650.8	+15.6	+0.20%

Brent Oil	94.86	+0.50	+0.53%
Crude Oil WTI	94.50	+0.82	+0.88%
Gold	1,891.55	+0.65	+0.03%
Silver	22.725	+0.001	+0.00%
Copper	3.6310	-0.0140	-0.38%
London Cocoa	2,966.00	0.00	0.00%
London Wheat	192.00	-0.75	-0.39%

U.K. 10Y	4.4185	+0.0585	+1.34%
U.K. 5Y	4.5030	+0.0360	+0.81%
U.K. 2Y	4.9340	+0.0590	+1.21%
Germany 10Y	2.8570	+0.0250	+0.88%
U.S. 10Y	4.601	-0.030	-0.65%
U.S. 5Y	4.678	-0.028	-0.59%
U.S. 2Y	5.121	-0.020	-0.39%

Lloyds Banking	44.57	-0.35	-0.79%
Vodafone Group PLC	79.32	-1.39	-1.72%
Barclays	158.12	-1.56	-0.98%
BT Group	117.30	-0.35	-0.30%
HSBC	639.90	+0.70	+0.11%
BHP Group Ltd	2,298.00	+14.50	+0.64%
Exxon Mobil	120.20	+3.79	+3.26%

EU Market Open: March 31, 2016

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