Antofag.5%pr Share News (70GD)

(Alliance News) - Stocks in London are on course for a hesitant start on Wednesday following some solid gains in the previous session, with US-China trade talk newsflow providing some support.In early company news, ITV reported a better advertising revenue performance than expected, Standard Life reached a settlement on its dispute with Lloyds Banking, and Aston Martin cut its guidance following disappointing wholesale performance in the first half.IG says futures indicate the FTSE 100 index of large-caps to open 4.96 points lower at 7,551.90 on Wednesday. The FTSE 100 index closed up 41.93 points, or 0.6%, at 7,556.86 on Tuesday.In the US on Tuesday, Wall Street ended in positive territory, with the Dow Jones Industrial Average ending up 0.7%, the S&P 500 also up 0.7% and Nasdaq Composite gaining 0.6%.In Asia on Wednesday, the Japanese Nikkei 225 index closed up 0.4%. In China, the Shanghai Composite is up 0.7%, while the Hang Seng index in Hong Kong is up 0.6%."Equity markets received a boost after a report that US Trade Representative Robert Lighthizer and senior US officials are heading to China next Monday for an across the table trade negotiations between the world's two biggest economies," said Stephen Innes at Vanguard Markets."While trade conversation remains high on the list of supportive factors for equity market this week, investors risk barometers are completely dialled in on the amplitude of the US Federal Reserve next easing cycle as the looser the policy, and the higher equity markets will soar," he added.Before the US Federal Reserve meets next week, the European Central Bank announces its latest monetary policy decision on Thursday.The economic events calendar on Wednesday has PMI readings from France, Germany, the eurozone and US at 0815 BST, 0830 BST, 0900 BST and 1445 BST, respectively.In London, broadcaster ITV said its advertising revenue fall was less steep than expected in the first half.Total external revenue in the first half of 2019 was down 7% to GBP1.48 billion, while ITV total advertising revenue fell 5%, though this was, the company noted, better than previously guided. Total ITV Studios revenue was down 6%.As revenue fell, pretax profit slipped to GBP222 million from GBP265 million."ITV delivered another good viewing performance in the first half of the year. Online revenues grew strongly up 18% despite tough comparatives, with Love Island providing a strong finish to the half. This was reflected in better than expected total advertising revenue," commented Chief Executive Carolyn McCall.On streaming service Britbox, ITV said the product is due to launch in the UK in the fourth quarter following formal agreement with the BBC. Over 2019 as a whole, ITV said it is confident in delivering GBP20 million of cost savings, double-digit online revenue growth and dividend of at least 8.0 pence per share. For the first half, ITV paid a dividend of 2.6p, flat on a year before. Standard Life Aberdeen said it has reached a final settlement with Lloyds Banking Group/Scottish Widows after Lloyds attempted to terminate an investment management arrangement. In February 2018, Lloyds terminated its investment manager contract with Standard Life Aberdeen, citing "competition concerns". Those concerns arose from Standard Life merging with Aberdeen Asset Management in August 2017.Under the terms of the settlement, Standard Life will continue to manage approximately one third of the total assets under management - around GBP35 billion as at June 30 - on behalf of Lloyds until at least April 2022. The remaining assets will be transferred to third-party managers appointed by Lloyds through a series of planned tranches over the next nine months. During this period, Standard Life will continue to be remunerated for its services in relation to the transferring assets and, in addition, will receive an upfront payment of GBP140 million from Lloyds.Events and publishing company Informa said it is "performing to plan" as it reported strong interim revenue and profit growth. Revenue was up 47% on a reported basis at GBP1.41 billion, 3.4% higher on a underlying basis. Pretax profit, meanwhile, rose to GBP232.8 million from GBP118.7 million. On an adjusted basis, profit was up to GBP377.8 million from GBP264.7 million.Informa benefited from a full period of contribution from the acquisition of UBM, whereas in the first half of 2018 the purchase was only included for 15 days."A year on from the acquisition of UBM, the enlarged Informa Group is performing to plan, delivering a further period of growth in revenue, adjusted operating profit, free cash flow and dividends," said Chief Executive Stephen Carter.Miner Antofagasta maintained its production guidance for 2019 after strong copper output in the second quarter. Anto produced 198,600 tonnes of copper in the second quarter of the year, up 5.3% sequentially. For the first six months, copper production was 387,300 tonnes, up 22% year-on-year due to higher throughput and grades.Following a strong cost performance, the company lowered its annual cost guidance to USD1.25 per pound from USD1.30 per pound, assuming by-product prices and the Chilean peso exchange rate remain at similar levels to the first half of the year.Car maker Aston Martin Lagonda Global Holdings said its challenging trading backdrop has deteriorated further, with this softness likely to persist throughout the remainder of the year. Aston Martin said it expects 2019 wholesales to be between 6,300 to 6,500 vehicles, and will monitor the environment in 2020. At the time of its annual results release in February, Aston Martin had guided to wholesales of around 7,100 to 7,300.The company added that it expects an adjusted earnings before interest, taxes, depreciation and amortisation margin of around 20%, having in February guided to around 24%.While the wholesale correction is "disappointing", the company said, it highlighted that retail sales have grown by 26% in the first half. "We are disappointed that short-term wholesales have fallen short of our original expectations, but we are committed to maintaining quality of sales and protecting our brand position first and foremost," said President & Chief Executive Andy Palmer.To come, drugmaker GlaxoSmithKline releases interim results at midday.In the UK, Boris Johnson is preparing to enter Downing Street for the first time as prime minister, as he takes on the challenge of delivering Britain's withdrawal from the EU.The new Tory leader will take over the reins of power after Theresa May leaves No 10 for the final time on Wednesday to formally tender her resignation to the Queen.A number of vacancies have opened up with the announcements by Chancellor Philip Hammond, Justice Secretary David Gauke and International Development Secretary Rory Stewart that they intend to resign before Johnson take office. However, Johnson is likely to be faced by a gaggle of Brexiteer ministers who resigned from May's government now jostling to get back in - including Dominic Raab, Esther McVey and Andrea Leadsom.His appointments will be closely studied at Westminster to see if they tilt the cabinet in a more pro-Brexit direction."When the ministers return from their holiday in September, the clock will be ticking loudly until the October 31st deadline. This means more downside pressure on the pound," commented Ipek Ozkardeskaya, senior market analyst at London Capital Group.Ozkardeskaya added: "UK blue chips remain in demand, however, as cheaper pound gives investors the opportunity to purchase British stocks at advantageous prices."Sterling was quoted at USD1.2438 early Wednesday, flat from the London market close on Tuesday.