Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY (AXP)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Worst week since 2016 for FTSE as market remains turbulent

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/09/2018 | 06:08pm CEST
A worker shelters from the rain as he passes the London Stock Exchange in London

LONDON (Reuters) - British stocks dropped on Friday, posting their worst week in two years as a global sell-off pulled down shares in the most volatile sectors.

The FTSE 100 <.FTSE> was down 1.1 percent at 7,092.43 points at its close, having earlier this week suffered its worst losses since the Brexit vote. The index was down around 9 percent from its record high hit on Jan 12.

The biggest question facing the market was whether the correction marked the start of a bear market.

"If we look at other indicators it doesn't look the case," said Rory McPherson, head of investment strategy at Psigma Investment Management in London.

"Interbank lending rates are still pretty low, credit spreads have moved up slightly from record lows but haven't blown out, and earnings season is coming along pretty well," McPherson said. Equity markets sold off because stocks were overbought and slightly over-valued, he said.

Energy and financials were the biggest weights on the index on Friday, knocking around 35 points off the index.

Investors said, however, domestic bank stocks would probably get support in the medium term from the Bank of England's saying on Thursday it would raise rates sooner and by more than it thought three months ago.

Chemicals firm Johnson Matthey (>> Johnson Matthey PLC) fell the most, 4.3 percent, after rival Umicore (>> Umicore) raised 892 million euros to fund capacity growth.

Merger and acquisition news shook up the small-cap market.

Trinity Mirror (>> Trinity Mirror plc) shares jumped 9.6 percent after the publisher of the Daily Mirror agreed to buy two rivals, the Daily Express and Daily Star.

Shares in British business travel company Hogg Robinson (>> Hogg Robinson Group plc) shot up nearly 49 percent, leading the small-cap index, after saying it got a takeover offer from American Express's (>> American Express Company) global business travel unit and had agreed to sell its payments technology business to Visa (>> Visa).

Materials stocks such as Fresnillo (>> Fresnillo) and Rio Tinto (>> Rio Tinto) gained ground and Direct Line (>> Direct Line Insurance Group PLC) jumped 2.7 percent after saying that 2017 profit would beat market expectations.

Valuations across European stocks and UK stocks fell after this week's losses. Volume has been heavy during the week, with some 1.4 billion UK shares trading on Tuesday, the most in nearly five months.

"The UK market trades on around 14 times next year's earnings, which is good value," McPherson said.

(Reporting by Helen Reid and Kit Rees, editing by Larry King)

By Helen Reid and Kit Rees

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 0.36% 102.18 Delayed Quote.2.29%
DIRECT LINE INSURANCE GROUP PLC 0.49% 330.6 Delayed Quote.-13.81%
FRESNILLO -5.14% 922.8 Delayed Quote.-31.92%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
HOGG ROBINSON GROUP PLC 0.00%-End-of-day quote.46.06%
JOHNSON MATTHEY PLC -1.12% 3609 Delayed Quote.18.70%
REACH PLC 1.17% 73.5 Delayed Quote.-8.62%
RIO TINTO -2.82% 3668.5 Delayed Quote.-4.24%
SCOTTISH MORTGAGE INVESTMENT TRUST -1.16% 546.1844 Delayed Quote.23.07%
UMICORE -2.47% 47.39 Delayed Quote.23.15%
VISA 0.39% 140.76 Delayed Quote.23.45%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN EXPRESS COMPANY
08/14AMERICAN EXPRESS : Women-owned Maine businesses fell slightly in 2016, bucking n..
AQ
08/13Correction to Aug. 6 Article About Facebook
DJ
08/13AMERICAN EXPRESS : and Pharrell Williams Partner to Back Arts and Music Educatio..
AQ
08/11AMERICAN EXPRESS : Alumnus Donates $250,000 to Support International Study
AQ
08/10AMERICAN EXPRESS : beefs up fraud protections
AQ
08/10MASTERCARD : New Merchant Fee Deals Provide Relief for Foodservice Businesses an..
AQ
08/10AMERICAN EXPRESS : beefs up fraud protections
AQ
08/10MASTERCARD : CFIB Applauds New Measures to Reduce Credit Card Processing Fees fo..
AQ
08/10MASTERCARD : New Agreements to Deliver Lower Credit Card Costs for Small and Med..
AQ
08/09BIG CREDIT CARD FIRMS AGREE TO CUT F : source
AQ
More news
News from SeekingAlpha
06:33aTracking Warren Buffett's Berkshire Hathaway Portfolio - Q2 2018 Update 
12:02aTracking Gardner Russo & Gardner Portfolio - Q2 2018 Update 
08/13Taking Advantage Of Selloffs 
08/13TRACKING HOW FAR THEY FELL : July Service And Financial Sector Edition 
08/11STOCKS TO WATCH : Any Privacy For Tesla? 
Financials ($)
Sales 2018 40 291 M
EBIT 2018 11 571 M
Net income 2018 6 241 M
Debt 2018 -
Yield 2018 1,44%
P/E ratio 2018 14,08
P/E ratio 2019
Capi. / Sales 2018 2,18x
Capi. / Sales 2019 2,03x
Capitalization 87 664 M
Chart AMERICAN EXPRESS COMPANY
Duration : Period :
American Express Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN EXPRESS COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 110 $
Spread / Average Target 7,4%
EPS Revisions
Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive Vice President
Marc D. Gordon Chief Information Officer & Executive VP
Upendra Mardikar VP-Security Strategy, Architecture & Engineering
Charlene Barshefsky Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN EXPRESS COMPANY2.29%87 664
CAPITAL ONE FINANCIAL CORPORATION-1.79%45 838
DISCOVER FINANCIAL SERVICES-1.57%25 470
BAJAJ FINANCE60.81%22 639
SYNCHRONY FINANCIAL-22.27%21 621
ORIX CORPORATION-8.37%21 167