Date: Tuesday 14 Apr 2015
LONDON (ShareCast) - 1630: Oil and mining stocks did best on Tuesday with analysts at Westhouse Securities pointing out how front month West Texas crude futures have just managed to break out of their range of the last three and a half months, hailing the move as "significant". Heading the other way, the board exit of one of Hargreaves Lansdown's founders penalised the share price. Stock in Aberdeen Asset Management was also to be seen lower on the back of a downgrade out of analysts at RBC. As expected, the UK's consumer price index for March printed at flat in terms of year-on-year rates of change. Overseas, the US 10-year Treasury yield dropped by eight basis points to hit 1.87%. Late in the afternoon the IMF downgraded its forecast for US GDP growth this year to 3.1%, from 3.6% previously. FTSE 100 up 11 points to 7,075.26.
1431: US 10-year Treasury yields are down by seven basis points to 1.87% following the IMF downgrade.
1330: US retail sales volumes grew by 0.9% month-on-month in March, following a 0.5% drop the month before (consensus: 1.1%). Excluding automobiles sales also came in lower than forecast, rising by 0.4% (consensus: 0.7%) after a 0.1% decline in the previous month.
1330: US producer prices advanced at a 0.2% month-on-month clip in March, as forecast.
1211: US heavyweight JP Morgan is reporting quarterly earnings per share of $1.45 versus analysts' estimates of $1.40. In adjusted terms the lender's EPS came in at $1.61 instead of the $1.41 expected. Ahead of the release Credit Suisse wrote how in the first quarter it expects to see European investment banks' revenues down by 7% year-on-year in comparison to a flat reading for their US peers. For that reason and "in the context of the recent relative strength in the broader European banks sector" the Swiss broker adds that: "our order of preference is UBS, Barclays, Deutsche Bank, RBS and HSBC."
1145: Peter Hargreaves, co-founder of Hargreaves Lansdown, will be stepping down.
1112: Conservative manifesto includes a promise for 200,000 extra homes for first-time buyers.
1000: Eurozone industrial production grew by 1.1% month-on-month (consensus: 0.4%) in February, following a slightly downwardly revised fall of 0.3% in the prior month.
0930: UK consumer prices held at zero in March as expected, the Office for National Statistic has revealed, amid a supermarket price war and a slump in oil prices.
0906: Stocks have started the morning slightly higher, led by a bounce in the shares of the main miners, alongside gains in BarclayUs. BP has been taken down a notch by analysts at Citi, to a "neutral" recommendation from "buy". UK CPI data is due out at 09:30. Retail spending jumped 4.7% in March, its fastest pace in 11 months, according to the British Retail Consortium (BRC). FTSE 100 up 17 points to 7,081.60.
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