|Day's Range||6,848.57 - 6,912.44|
|52 Week Range||6,536.50 - 7,903.50|
U.K. Prime Minister Theresa May’s Brexit deal was soundly rejected in Parliament on Tuesday, leaving the country in a state of uncertainty about not only the future of its planned exit from the European Union but possibly also about who will lead the British government. Here’s what could happen following a vote that showed 432 members of Parliament against May’s deal, and 202 in favor, marking a historically poor performance for a sitting government in recent British history. The government now has three days to return to Parliament with an alternative deal.
Pearson, which cut thousands of jobs and sold assets including the Financial Times, has been driving an expansion into digital education. The British education publisher said it expects annual cost savings to be higher than 330 million pounds ($424.31 million) by the end of 2019. Pearson PSON-GB said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content.
PLC (PSON.LN) said Wednesday that it anticipates adjusted operating profit for 2018 to be ahead of expectations, despite a revenue decline due to continued pressures at its key U.S. higher-education business. The London-based education publisher said it expects to deliver adjusted operating profit for 2018 of between 540 million and 545 million pounds ($694.2 million-$700.6 million). Pearson previously guided for adjusted operating profit of between GBP520 million and GBP560 million.
The pan-European Stoxx 600 was up around 0.3 percent during mid-morning deals, with most sectors and major bourses in positive territory. British lawmakers voted 432-202 against May's template to leave the bloc on Tuesday, delivering the worst parliamentary defeat in modern British history. It prompted opposition leader Jeremy Corbyn to immediately call for a motion of no-confidence in the government, to be held at around 7:00 p.m. London time on Wednesday.
Britain's top share index was expected to open slightly lower on Wednesday after lawmakers defeated Prime Minister Theresa May's deal to leave the European Union by a crushing margin overnight, deepening political and market uncertainty. The FTSE 100 was seen opening 3 points lower and underperforming its European peers, according to financial spreadbetters at IG. The small drop comes as sterling eked out small gains against the U.S. dollar in early dealings, with the sizable defeat for May seen forcing Britain to pursue different options, including a delay to the exit.
(Reuters) - Britain's FTSE 100 rose on Tuesday on hopes Beijing will take steps to stabilise a slowing economy, while mid-caps edged up in choppy trade as investors remained cautious ahead of a crunch vote on British Prime Minister Theresa May's Brexit plan.
Britain’s biggest equity-focused exchange-traded fund iShares Core FTSE 100 UCITS ETF saw an outflow of 470,000 pounds ($610,000) on Monday, a day before Parliament was set to reject Theresa May’s Brexit plan. This was the largest one-day redemption since February, according to data compiled by Bloomberg. Investors’ retreat from the equity ETF marks a turnaround in sentiment after the sterling-denominated fund saw steady inflows for most of last year, despite a negative 4 percent return, even during the global market turmoil at the end of 2018.
Today, the British Parliament is set to vote on Theresa May’s Brexit deal. Most economists are forecasting that the majority of MPs will vote against it, which will certainly have a negative impact on the pound. On the other hand, approval for the deal would certainly come as a surprise and most likely support the sterling.
The U.K. education company is analysts’ lowest-rated stock in the FTSE 100 Index, according to data compiled by Bloomberg. Brokerages see no end to Pearson’s struggles with the shift from printed textbooks and course material to digital formats, lower college enrollments in North America and students’ preference to rent textbooks. Pearson has 12 sell recommendations, seven holds and only one buy among analysts tracked by Bloomberg.
US stock futures point to a rise at the open as China's promised stimulus lifts world equities. JP Morgan (JPM) continues the bank earnings season after Citigroup (C) beat analyst forecasts yesterday. Netflix (NFLX) also reports this week.
Glencore fell 1.4 percent and Daimler declined 0.9 percent. The FTSE 100 Index dropped 0.4 percent before the Parliament votes on Theresa May’s Brexit deal tomorrow. Investors are carefully watching global data for signs of a slowdown as a result of trade wars, and are bracing for this week’s start of the full-year corporate reporting, which will show how resilient or not companies have been to the tariff tensions.
The pan-European Stoxx 600 was down around 0.6 percent during lunchtime deals, with almost all sectors and major bourses in negative territory. Denmark's Pandora slumped towards the bottom of the European benchmark on Monday, after Morgan Stanley slashed its price target for the company. European markets were lower Monday afternoon, after a shock contraction in Chinese exports heightened fears of a slowdown in global growth.
European markets were lower Monday afternoon, after a shock contraction in Chinese exports heightened fears of a slowdown in global growth.
Insurer and asset manager Legal & General’s stock has been slammed by Brexit, higher rates, and global trade spats. But a 7% dividend yield and good growth prospects make the shares very attractive right now.
U.K. domestic stocks spiked along with the pound shortly before 11 a.m. in London on Friday as the Evening Standard reported that cabinet ministers are expecting Brexit to be delayed. As of 12:19 p.m. in London, the pound was trading 0.5 percent higher versus the dollar. The U.K. large-cap benchmark tends to have a negative correlation with sterling.
Federal Reserve Chairman Jerome Powell said Thursday that he is "very worried" about the ballooning U.S. debt. Prime Minister Shinzo Abe said Thursday in London that he hopes the UK and the EU will avoid a no-deal. Stocks in Europe traded slightly higher on Friday as investors tried to navigate through political uncertainty across the globe.
Traders believe there is some positive momentum in the relationship between the U.S. and China over trade. The U.K. Parliament agreed Wednesday that the government must come up with a plan-B within three days if the Withdrawal Agreement is not approved on Tuesday. European shares traded lower on Thursday as investors focused on trade war developments and monetary policy in the U.S.
US equity futures indicated a broadly higher open in the early Wednesday pre-market session. The move was driven by optimism a trade deal would soon be reached that both China and the US could agree on, and also expectations for the upcoming earnings season. Later in the day, the FOMC minutes will be released.
US stock futures point to a small rise at the open as trade talks between US and China enter their third day. Federal Reserve minutes are due today from the last meeting of 2018, when interest rates were raised by another quarter point, the fourth such rise of the year. Fed chairman Jerome Powell, who locked horns with Donald Trump at the end of last year, will speak before The Economic Club of Washington after the stock market opens on Thursday.
Asian markets were mixed in Tuesday trading as investors wait on trade-related news. European indices were higher across the board at midday on optimism US/Sino trade talks would produce positive results. US futures were indicated to open higher in early premarket trading.
Investors are monitoring the second day of trade talks between China and the U.S. At the same time, investors they are also considering the path of rate hikes for the Federal Reserve this year. Stocks in Europe hit a three-week high on Tuesday morning, as trade and politics take center stage.
U.S. stocks jumped Monday, boosted by rallying technology shares, as officials from Washington and Beijing kicked off their latest round of negotiations over trade policy. The S&P 500 jumped 1.1% and the Nasdaq Composite gained 1.5%. Investors are beginning the week with their focus on the U.S. and China’s negotiations, something many hope will help bring the two countries closer to a resolution in their trade fight.