Sign up for free newsletter


European markets are expected to open broadly unchanged this morning

We have interest rate decisions this week,and with school holidays beginning in ernest, so we shall be expecting a fairly slow week.

FTSE Support/Resistance

Support 5892.1,5854.8,5795

Resistance 5951.8,5974.2,6033.9

200 dMA 5719    50 dMA 5725

Market Talk/Press/Early Indications

* Analysts expect the Bank of England to keep base rates on hold at 4.5% this week

* House prices are set to drop in the US for the first time on record, according to Goldman Sachs
* Recent surge in house prices in Britain is running out of steam with stuttering growth expected for the reat of the year, according to Hometrack

* Figures produced by the Broadcaster's Audience Research Bureau show that ITV's audience share fell to 16.3% for week ending July 17

* Sales of Cadbury's chocolate have plummeted by 25% since a salmonella scare last month, according to The Grocer

* Mike Ashley, who owns Lillywhites and Sports World, has built up a secret stake in rival JJB Sports

* Xstrata plans a £2 billion-plus rights issue to fund cash bid for Falconbridge

* A group of private equity firms is considering launching a £5 billion takeover of Severn Trent


Broker Upgrades/Downgrades

Downgrade Buy from neutral Imperial Tobacco, target 1,900 pence -- UK Utilities: Downgrade Reduce from neutral Kelda; Downgrade Reduce from neutral Severn Trent -- Downgrade Reduce from neutral Corio

Upgrade Outperform from neutral Rank Group -- Reiterate Outperform Lagradere --  Outperform Medion -- Neutral Orion -- Outperform Clariant, preview --  Underperform Cabdbury Schweppes, preview -- Neutral Unilever

Downgrade Neutral from buy Great Portland Estates -- Upgrade Buy from neutral Buy from neutral Azimut -- Initiate Neutral Tiscali, target 2.2 eur-- Reiterate Neutral Deutsche Postbank -- Neutral Alliance & Leicester --Buy Air Liquide -- Neutral Infineon -- Neutral Scania -- Neutral Thomson --Neutral Pennon -- Neutral HBOS, preview -- Buy Telecom Italia -- Buy Fastweb, cuts target to 36 eur -- Buy Unicredito, preview --  Neutral NH Hotels -- Buy Michelin  -- Neutral Shire -- Buy Temenos -- Buy SABMiller

Reiterate Buy ACS, ups target to 36 eur from 35

Reiterate Overweight Prudential, ups target to 778 pence from 763

Reiterate Overweight Shire -- Underweight Alliance & Leicester -- Neutral Finansbank -- Overweight SABMiller -- Neutral Scania -- Neutral Serono --Neutral RWE -- Overweight Alpha Bank

Resume Hold ThyssenKrupp, ups target to 30 eur from 18 --  Reiterate Buy Shire -- Hold Alliance & Leicester


Please click here to receive daily market reports direct-to-desktop

from our other sites
4 days 5 hours from now - Abuja
1 week 4 days from now - London
2 weeks 2 days from now - London
2 weeks 2 days from now - San Francisco
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 12:28
Backstop Solutions Group
Tue, 08/11/2016 - 18:44
The Gemini Companies
Mon, 17/10/2016 - 12:51
other gfm publications