In the Spotlight: Manufacturing PMI Monday, Ryanair, HSBC, Publicis Groupe
November 3, 2014 9:44 am
Monday is Manufacturing PMI day, or at least this Monday is, with results from the UK, Eurozone and US. The UK’s Manufacturing PMI saw a surprise increase for October, coming in at a level of 53.2. The expectation had been for 521.2, which would have been down from September’s 51.6. Meanwhile the Eurozone found itself in the unenviable position of having improved on the previous month’s results whilst still falling short of expectations; October’s 50.6 was up from Septembers’ 50.3, but still lower than the predicted 50.7. At 15:00 GMT the ISM will be releasing its own Manufacturing PMI data for the US.
What’s Up
Ryanair
Who would have thought that being nice to people could make such a difference to a company’s bottom line? Ryanair appear to have come to this realisation over 2014. The low-cost airline has raised its full year guidance for the third time in a four month period, with the company’s new cuddly-feely approach appearing to have paid off to the tune of many millions; profit guidance for the full year now stands at €750-€770 million, a far cry from the €580-€620 million being forecast at the beginning of the year. The Share price is up by almost 9% this morning on the London Stock Exchange.
What’s Down
HSBC
After Barclays and RBS, now HSBC. In a move being adopted by an increasing number of UK banks, HSBC has set aside $378 million towards potential fines for Forex Trading misdemeanours. The firm’s earnings for Q3 failed to meet expectations; while pre-tax profit was up by 2% at $4.6 billion, this amount was significantly lower than the $5.46 billion expected. HSBC stock is currently down by 1.74% on the FTSE.
Publicis Groupe
It hasn’t been the easiest of years for the French advertising company – it’s been seven months since the disintegration of the French giant’s attempted merger with Omnicom, with both tax problems and significant differences in outlook leading to the collapse of the deal. Now Publicis has its eye on another US firm, with the world’s third largest advertising group agreeing to spend $3.7 billion in cash to acquire US Internet Marketer Sapient. Publicis Groupe’s share price is currently down by around 2.5% as the markets wonder whether this will prove to be another mis-step or second time lucky instead.
Monday is Manufacturing PMI day, or at least this Monday is, with results from the UK, Eurozone and US. The UK’s Manufacturing PMI saw a surprise increase for October, coming in at a level of 53.2. The expectation had been for 521.2, which would have been down from September’s 51.6. Meanwhile the Eurozone found itself in the unenviable position of having improved on the previous month’s results whilst still falling short of expectations; October’s 50.6 was up from Septembers’ 50.3, but still lower than the predicted 50.7. At 15:00 GMT the ISM will be releasing its own Manufacturing PMI data for the US.
What’s Up
Ryanair
Who would have thought that being nice to people could make such a difference to a company’s bottom line? Ryanair appear to have come to this realisation over 2014. The low-cost airline has raised its full year guidance for the third time in a four month period, with the company’s new cuddly-feely approach appearing to have paid off to the tune of many millions; profit guidance for the full year now stands at €750-€770 million, a far cry from the €580-€620 million being forecast at the beginning of the year. The Share price is up by almost 9% this morning on the London Stock Exchange.
What’s Down
HSBC
After Barclays and RBS, now HSBC. In a move being adopted by an increasing number of UK banks, HSBC has set aside $378 million towards potential fines for Forex Trading misdemeanours. The firm’s earnings for Q3 failed to meet expectations; while pre-tax profit was up by 2% at $4.6 billion, this amount was significantly lower than the $5.46 billion expected. HSBC stock is currently down by 1.74% on the FTSE.
Publicis Groupe
It hasn’t been the easiest of years for the French advertising company – it’s been seven months since the disintegration of the French giant’s attempted merger with Omnicom, with both tax problems and significant differences in outlook leading to the collapse of the deal. Now Publicis has its eye on another US firm, with the world’s third largest advertising group agreeing to spend $3.7 billion in cash to acquire US Internet Marketer Sapient. Publicis Groupe’s share price is currently down by around 2.5% as the markets wonder whether this will prove to be another mis-step or second time lucky instead.
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