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UK stock picks to buy, avoid with fourth quarter catalysts: Barclays

October 10, 2020

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The FTSE 100 was one of the worst-performing major indexes in Europe in September. However, UK investment bank, Barclays, in a research note, said stocks in the UK region were cheap and under owned.
The UK market is “foreign exchange sensitive” and with the GBP likely to be choppier due to Brexit uncertainty, Barclays predicts the FTSE 100 will improve, which could create opportunities for investors.
Barclays outlines seven UK stock picks with catalysts in the fourth quarter and two stocks to sell.
“Our seven OW-rated stocks have an average upside to our PT of 26%; whilst our two UW-rated stocks have an average downside to our PT of -27%,” said Barclays’ equity analyst, Richard Taylor, in the note.
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The FTSE 100, the UK stock index that tracks the biggest 100 companies

GLOBAL MARKETS-Stimulus hopes lead markets into tough fourth quarter

October 1, 2020

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By Herbert Lash

NEW YORK, Oct 1 (Reuters) – Renewed U.S. stimulus hopes lifted gold prices and global equity markets on Thursday, but relief talks faltered while an all-day outage on Tokyo’s Nikkei and a Brexit legal dispute provided a bumpy start to a likely volatile fourth quarter.

The dollar slipped against major currencies as hopes for a new round of fiscal stimulus from Washington cheered investors who sought higher-yielding but riskier currencies.

Stocks on Wall Street and in Europe rose as investors bet on more stimulus after data showing the number of Americans filing new claims for jobless benefits fell last week. But claims were still at recession levels, while personal income dropped in August, underscoring the need for further government stimulus. L1N2GR1VQ

The Dow industrials and the S&P 500 pared some gains after U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin remained far from agreement

Consumer spending climbs in August for fourth month in a row, but at a slower pace

October 1, 2020

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ECONOMIC REPORT

a person standing in front of a store: Consumers haven’t stopped spending because of the coronavirus.

© Getty Images
Consumers haven’t stopped spending because of the coronavirus.

The numbers: Americans ratcheted up their spending in August for the fourth month in a row in a good sign for the economy, but the increase was the smallest since the U.S. reopened and pointed to a slower recovery.

Consumer spending rose 1% in August, the government said Thursday, matching the forecast of economists polled by MarketWatch.

chart, waterfall chart

Slower spending stemmed largely from the end of a massive infusion of federal aid for the unemployed. Incomes declined by 2.7% — the biggest drop since early in the pandemic — after an extra $600 jobless stipend expired.

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Wages and salaries rose, however. What’s more, many households boosted savings early in the pandemic, giving them more cushion to spend. The savings rate fell again to 14.1%, but it’s still almost twice as high as it was before the

Foreigners Net Sellers of Japanese Stocks for Fourth Straight Week | Investing News

October 1, 2020

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(Reuters) – Foreign investors remained net sellers of Japanese equities last week on concerns over a slow global economic recovery, with data on U.S. economic activity showing a sedate progress.

Data from Japanese exchanges showed foreigners were net sellers of stocks worth 383.61 billion yen ($3.64 billion) for the week ended Sept. 25, the biggest in eight weeks.

They sold 184.79 billion yen in cash equities markets, and 198.82 billion yen in derivatives.

Graphic – Foreign flows into Japanese stocks: https://fingfx.thomsonreuters.com/gfx/mkt/rlgpdjgbjpo/Foreign%20flows%20into%20Japanese%20stocks.jpg

Investors sought to limit exposures to downside risks as the global economic outlook darkened on rising COVID-19 infections in Europe as well as on uncertainties over the U.S. presidential election.

Last week, data showed that U.S. business activity cooled in September, dampening hopes about a recovery from the pandemic recession.

Japanese stock indexes, the Topix index <.TOPX> and the Nikkei share average <.N225>, both fell about 0.7% last week.

China’s Industrial Profits Grow for Fourth Straight Month | Investing News

September 27, 2020

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SHANGHAI (Reuters) – Profits at China’s industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, the statistics bureau said on Sunday.

China’s recovery has been gaining momentum as pent-up demand, government stimulus and surprisingly resilient exports propel a rebound.

Industrial firm profits grew 19.1% year-on-year in August to 612.81 billion yuan ($89.8 billion), the statistics bureau said.

That compares with a 19.6% increase in July and is the fourth straight month of profit growth.

However, industrial firms’ profits still face external pressures as rising tensions between Washington and Beijing cloud the global trade outlook.

Raw material manufacturing profits increased by 32.5% in August, up from 14.7% in July, according to Zhu Hong, an official at the statistics bureau. This was driven in part by a rebound in the prices of international commodities such as crude oil and

China’s industrial profits grow for fourth straight month

September 27, 2020

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FILE PHOTO: A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS

China’s recovery has been gaining momentum as pent-up demand, government stimulus and surprisingly resilient exports propel a rebound.

Industrial firm profits grew 19.1% year-on-year in August to 612.81 billion yuan ($89.8 billion), the statistics bureau said.

That compares with a 19.6% increase in July and is the fourth straight month of profit growth.

However, industrial firms’ profits still face external pressures as rising tensions between Washington and Beijing cloud the global trade outlook.

Raw material manufacturing profits increased by 32.5% in August, up from 14.7% in July, according to

Chinese Industrial Companies’ Profit Grows for Fourth Month

September 27, 2020

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Inside Huawei Technology's Campus as Company Sues U.S. Over Equipment Ban in Escalating Legal Clash — Photographer: Qilai Shen/Bloomberg

Profits at Chinese industrial enterprises grew for a fourth consecutive month, as the country’s factories maintained momentum following the pandemic shutdown.

Industrial profits rose 19% in August, after July’s 19.6% increase, data from the National Bureau of Statistics showed Sunday. For the first eight months of the year, it was still down 4.4% from a year earlier.

The increase was due to factors including the continued recovery of production and demand as well as falling costs and fees for companies, the bureau said in a statement accompanying the data release. The bureau also pointed to a recovery in mining industry profitability and rapid growth in profits for equipment manufacturers.

The continued growth in profits was accompanied by a recovery in industrial output and slowing producer price deflation. However, that momentum could fade if the surprisingly strong export growth slows or domestic consumer demand doesn’t

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