Building & Construction equity research

Explore the most viewed and latest equity research and media content for companies within the Building & Construction sector. Stocks in this sector provide goods such as construction materials and offer services from contractors.

Building & Construction equity research

Explore the most viewed and latest equity research and media content for companies within the Building & Construction sector. Stocks in this sector provide goods such as construction materials and offer services from contractors.

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Breakfast Today

  • 24 Mar 17

"The Dow Jones gave up almost a 100-point gain yesterday evening, to close in the red as it became clear that House Republicans would have to postpone Thursday's planned vote on a bill designed to dismantle the Affordable Care Act. As of Thursday afternoon, Republican lawmakers remained short of the votes needed; this is, of course, highly sensitive, considering most economists view the outcome to be a barometer on President Trump administration and, ultimately, whether he will be able to push through dramatic agenda for policy changes like tax cuts, fiscal stimulus and deregulation, optimism for which has spurred international financial markets to new record highs post his election. A further attempt will be made later today, although the White House Budget Director, Mick Mulvaney, has already conceded that Trump will have to leave Obamacare in place if he fails to muster sufficient support. The principal US indices tumbled in unison during the last trading hour to all end with fractional losses. This year's big winners, financials and industrials, were obvious casualties of the news, although energy stocks also managed to notch up their six-consecutive day of losses as crude prices fell on concerns of unabated rising US inventories and doubts regarding international adherence to scheduled production cuts. Despite this, Asia-Pacific equities regained some risk appetite Friday morning, with the Nikkei sparking higher as the Yen weakened against the stronger US$ that followed the Robert Kaplan suggesting three rate hikes in 2017 to be a 'reasonable baseline'. This also boosted the ASX that otherwise would have been concerned by soft overnight minerals prices, while the Shanghai Composite followed closely behind to leave just the Hang Seng treading water. Possibly a measure of investor cynicism, and in sharp contrast with the past, financial markets barely noticed Wednesday's terrorist attack in London, underscoring conviction that such events have limited scope to undermine businesses or the economies of affected regions. While the FTSE-100 spent most of the day with marginal losses, despite February Retail Sales data emerging slightly above consensus, it staged a late recovery inspired by a firmer US opening, itself on stronger than anticipated on February New Home Sales, to close with a modest gain. European stocks, by comparison, shone quite brightly, with the Stoxx Europe 600 hiking 0.85% as analysts continued to point out the wide valuation gap that now exists between it and the S&P-500, at a time when macro and political confidence for the Continent appears to be rising. UK macro release due today are limited to January BBA Mortgage Approvals, although March Preliminary PMI figures are due form the EU. The US provides February Durable Goods and its own Market Preliminary PMI data; speeches are also due from the Fed's Chales Evans and James Bullard. UK corporates due to release earnings or trading updates include Smiths Group (SMIN.L), Henry Boot (BHY.L), and Concurrent Technologies (CNC.L). As investors are in 'wait and see' mode with this afternoon's vote in the US expected after the close, little can be expected from the London markets today. The FTSE-100 is seen trading just 5 points either side of unchanged during early business." - Barry Gibb, Research Analyst



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