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Stagecoach Share News (SGC)

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Share News for Stagecoach (SGC)


Share Price: 152.90Bid: 151.70Ask: 152.00Change: 0.00 (0.00%)No Movement on Stagecoach
Spread: 0.30Spread as %: 0.20%Open: 160.00High: 161.80Low: 151.40Yesterday’s Close: 152.90




UK blue chips led lower by Hargreaves as strong pound takes toll

Wed, 28th Jun 2017 17:02

* FTSE 100 ends down 0.6 pct

* Blue chips underperform mid caps on stronger pound

* Hargreaves Lansdown falls after FCA report

* Bunzl bounces after upbeat update (Adds details, closing prices)

By Kit Rees and Danilo Masoni

LONDON, June 28 (Reuters) - Britain's top share index dipped on Wednesday, depressed by a slide in Hargreaves Lansdown and oil stocks, though a jump in Bunzl's shares offered some relief.

The FTSE 100 index fell 0.6 percent. A brief recovery was brought to an end in afternoon trading when Bank of England governor Mark Carney said the bank would debate an interest rate increase in the coming months.

His remarks boosted sterling and sent the blue chip index back to the day's lows with big international companies such as drugmaker Shire and drinks firm Diageo - which benefit from a weaker pound - among the heaviest fallers.

The mid-cap index, which is more domestically focused, did slightly better, ending down 0.3 percent.

Fund platform Hargreaves Lansdown fell 2.3 percent following an industry report by Britain's markets watchdog.

In a drive to improve funds transparency, the Financial Conduct Authority (FCA) proposed a number of changes to the asset management industry, adding it supported the disclosure of a single, all-in fee. It also said it would launch a market study into investment platforms.

"Rather than having the management fee and then also trading commission as well and then other sorts of fees on top of that, I think the regulator would rather that wealth managers charged just one fixed percentage that encompassed everything, so consumers would know exactly what they were paying," Rachel Winter, senior investment manager at Killik & Co, said.

Winter added that, because performance reporting has been a big part of Europe's upcoming Markets in Financial Instruments Directive, or MiFID II regulation, wealth managers had already been looking at their fee structures and considering one fee.

A weaker oil price was also a drag on UK blue chips, with shares in majors Royal Dutch Shell and BP dropping 0.6 and 1 percent respectively.

Shares in Bunzl, a provider of distribution and outsourcing services, bounced 1.5 percent.

Bunzl issued an upbeat trading statement in which it said it saw a 7 percent rise in first-half revenue at constant currency, as well as a boost from recent acquisitions.

Outside of the large caps, results dragged down shares in Stagecoach, which slumped 6.2 percent after its full-year earnings missed expectations. Stagecoach's full-year pretax profit dropped 15.3 percent as economic conditions hit its domestic bus business. (Reporting by Kit Rees and Danilo Masoni; Editing by Mark Potter)



(c) Copyright Thomson Reuters 2017. Click For Restrictions - http://about.reuters.com/fulllegal.asp


Related Shares:
Royal Dutch Shell Plc (RDSa)BP (BP.)Bunzl (BNZL)Stagecoach Group (SGC)Glencore International (GLEN)Antofagasta (ANTO)





UPDATE 1-Britain's FTSE eyes strongest quarter since 2013

* FTSE 100 up 0.3 pct at close* Pound, oil boost index in Q2* Cyclicals rally as trade worries ease (Recasts, updates prices at close)By Kit ReesLONDO
[29 Jun '18 17:05]

Britain's FTSE eyes strongest quarter since 2010

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.8 pct* Pound, oil boost index in Q2* Cyclicals rally as trade
[29 Jun '18 10:13]

UPDATE 1-Britain's FTSE dips as trade worries dull risk appetite again

* FTSE 100 down 0.1 pct* British index outperforms European peers* Banks on the backfoot, defensives rally* Shire rises after Takeda shareholder group
[28 Jun '18 17:17]

Commodities drag Britain's FTSE as trade worries dull risk appetite

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.2 pct* Banks on the backfoot, defensives rally* Shire rises
[28 Jun '18 10:17]

UPDATE 2-Stagecoach cuts dividend as UK rail business contracts

* East Coast rail contract results in 85.6 mln pound hit* Year dividend cut to 7.7 pence per share from 11.9 pence* Wants to bid for more UK rail cont
[28 Jun '18 08:15]

Stagecoach cuts dividend, hit by East Coast rail costs

LONDON, June 28 (Reuters) - British transport company Stagecoach cut its dividend after annual profits fell, and the company took an 85.6 million poun
[28 Jun '18 07:23]

UK's Labour loses vote to dock transport minister's pay over rail failure

LONDON, May 23 (Reuters) - Britain's opposition Labour Party lost a vote on Wednesday to force the government to dock the transport minister's salary
[23 May '18 16:20]

UPDATE 1-Ambitious bids were sought for failed British rail line, lawmakers told

(Adds quotes)LONDON, May 21 (Reuters) - Britain's Department for Transport (DfT) encouraged "ambitious" bidding on revenue projections for the failed
[21 May '18 19:26]



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