The death threat to Airbus’ A380 is over, at least for a while. Earlier today Emirates confirmed it would order up to 36 Airbus A380s in an £11.5bn deal. Earlier this week Airbus sales boss John Leahy indicated that Airbus would have to end production if there were no imminent orders.
This morning, Boeing shares were sharply down helping drag the Dow Jones down -0.25% to 26,050. Boeing shares however have soared more than +100% in the last year, demolishing some of the returns so-called FAANG stocks – Amazon, Apple, Facebook, etc – have achieved (Amazon is up around +60% in comparison). Boeing is trading at an usually higher valuation compared to the market overall.
The pound was up +0.14% mid-afternoon at 1.3872 while the euro was +0.18% higher against the dollar at 1.2232. Earlier there was more optimism for sterling with JP Morgan confirming they expected sterling to hold its own against the greenback though UBS was less confident about sterling-euro, citing on-going performance worry for the UK compared to an increasingly confident euro-region – not to mention global growth generally.
This evening Hargreaves Lansdown (more below) and Evraz were the best performing Big Board shares, up +4.3% and +4.1% while Primark-owner ABF slumped more than -3.5%.
- UK FTSE 100 7,700 -0.32%
- DAX 13,215.37 +0.24%
- CAC 40 5,476.73 -0.31%
- Euro Stoxx 600 397.60 -0.10%
- Dow 26,066.13 -0.19%
- S&P 500 2,799.14 -0.12%
- Nasdaq 7,291.94 -0.09%
- Nikkei 225 23,763.37 -0.44%
- Gold 1,331.50 -0.57%
- Oil WTI 63.71 -0.41%
Hargreaves Lansdown shares buoyed by Barclays upgrade
Shares in Hargreaves Lansdown were in the ascendant today, up more than +4.2% mid-afternoon following a Barclays upgrade. Barclays Capital has hiked its target on the stock from a 1,6750p previous rating to 2,100p.
The broker said Hargreaves has enjoyed robust success in the past decade. “Since its 2007 IPO, the HL share has risen by a compound annual growth rate of +26%. Its Assets Under Administration (AUA) have grown on average by +23% p.a. and net profits by +24%.”
Whitbread shares were also on the rise, up +3.4%, despite some mediocre trading numbers this morning. But Whitbread investors have the prospect of its Costa coffee business being split off – something activist hedge fund investor Sachem Head is gunning for.
Bitcoin back up but EU regulation looms
While Bitcoin’s massive volatility continues, France and Germany are pushing strongly for more crypto regulation. “We will have a joint Franco-German analysis of the risks linked to Bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” French finance minister Bruno Le Maire told the media, according to Reuters.
Earlier this afternoon Bitcoin was trading at $11,877 following a recent low of $9,000. There were reports earlier today that Visa was advertising for a Blockchain engineer. “We are working on Blockchain technology and want to add a highly motivated Engineer to our team,” the Express reported.