ACA.L Share News (ACA)

(Alliance News) - Stocks are called higher in London on Friday, with investors encouraged by comments from the US suggesting support for cutting interest rates.On the London Stock Exchange, Acacia Mining has agreed a full takeover by parent Barrick Gold, while DS Smith is under the UK competition regulator's microscope over the sale of a business.IG futures indicate the FTSE 100 index is to open 35.5 points higher at 7,528.59. The blue-chip index closed ended 42.37 points lower, or 0.5%, at 7,493.09, on Thursday. John Williams, the influential vice chairman of the Fed's policy-setting board, said in a speech on Thursday that central banks should move quickly to support the economy when borrowing costs were already low.He pointed to studies suggesting when there are few stimulus options available, officials should "move more quickly than you otherwise might" rather than waiting "for disaster to unfold".While a spokesman later clarified Williams was not outlining Fed policy and was not flagging a half-point cut, analysts said the remarks provided an insight into how officials were thinking."Comments from New York Fed President Williams and Fed Vice Chair [Richard] Clarida on Thursday pushed the market more towards the probability of a 50 basis point cut," said Stephen Innes at Vanguard Markets."With that in mind, Asia equity markets continue to revel amidst the backdrop of lower US interest rates and a weaker US dollar."The Japanese Nikkei 225 index closed 2.0% higher on Friday. In China, the Shanghai Composite is up 0.8%, while the Hang Seng index in Hong Kong is up 1.1%.In the US on Thursday, Wall Street ended in the green, with the Dow Jones Industrial Average closed marginally higher, the S&P 500 up 0.4%, and the Nasdaq Composite up 0.3%.In early UK corporate news, the Competition & Markets Authority has raised concerns over the USD585 million sale of DS Smith's rigid and flexible packaging business to Liqui-Box, announced in March.The CMA said the two companies are two of four major players in the sphere, and if a deal goes ahead, this could reduce competition, leading to higher prices for food and drink suppliers who are their customers. The watchdog said the two must come up with measures to address its concerns. Otherwise the sale will be referred to an in-depth investigation. In the FTSE 250, Acacia Mining has reached an agreement with Canadian parent Barrick Gold which will see Barrick take full control of Acacia.Barrick will pay 0.168 of new Barrick share for each Acacia share, implying a value of 232 pence per Acacia share. This is a 24% premium to Acacia's closing price of 187p on Thursday. This values the entirety of Acacia at GBP951 million. Barrick already owns 64% of the shares, and the value of the outstanding stake is GBP343 million.Barrick had previously proposed a 146p offer for Acacia, which the latter had rejected, so the new price is 59% higher. Food and beverage concessions owner SSP Group reported a "good" third quarter, with revenue rising 9.2%, and 2.0% like-for-like. UK like-for-like sales met expectations, with air services doing better than rail, but Continental like-for-like sales have been held back by slower passenger growth in the Nordics as well as airport redevelopments both there and in Spain. Looking ahead, SSP said it expectations remain unchanged. Financial services firm Close Brothers reported a "solid" performance in a mixed environment, with the loan book rising 5.1% year-on-year to GBP7.6 billion as of June 30. There were "good" net inflows in the Asset Management unit despite subdued client activity, with managed assets up 9% to GBP11.3 billion. The stockbroking unit Winterflood performed solidly in terms of profit, despite low volumes.Strategic European Investment Group is to take an additional 3% stake in FTSE 250 luxury car maker Aston Martin, by buying 6.8 million new shares at GBP10.00 each, for GBP68.4 million. Strategic European is an indirect subsidiary of Investindustrial VI, managed by Investindustrial Advisors, which also manages two shareholders which together own 31% of Aston Martin, so the new purchase would raise this to 34%.Storage company Big Yellow reported improved occupancy, with the figure at the end of its first quarter on June 30 at 84.0% from 83.5% a year before. Like-for-like occupancy was 85.1% from 83.3%. Revenue rose 3.7% on the year prior to GBP31.1 million for the three months to June, and climbed 4.4% on a like-for-like basis. Home repairs and improvement firm Homeserve said trading for the period from the start of April to July 18 met expectations, and it continues to expect strong annual growth. Residential landlord Grainger said a proposed review of London's housing market would have a "limited" effect on its business, given 22% are rented in the wider London area. Grainger has also refinanced GBP275 million of debt, signing a new debt facility in two tranches. The first GBP75 million chunk lasts for seven years, with the GBP200 million part for ten years, and they have a blended interest rate of 2.3% from 3.2% before. The pound was quoted at USD1.2530 early Friday, higher than USD1.2487 late Thursday. Boris Johnson has said the last three years under outgoing Prime Minister Theresa May will seem like a "bad dream" once he gets the UK out of the EU.The favourite in the Tory leadership race insisted he would stick to his commitment to deliver Brexit on October 31.Johnson used a Daily Express interview to again stress his commitment to leave the EU "come what may" on Halloween, with or without a deal.Still to come on Friday in the economic calendar are eurozone current account figures at 0900 BST.