ALD.L Share News (ALD)

LONDON (Alliance News) - Shares opened higher in London Thursday, following strong leads from Wall Street and Asian markets, after the minutes of the most recent US interest rate setting meeting pointed even more strongly to a December 'lift-off'.

Johnson Matthey and Royal Mail were among the top blue-chip risers, up 6.6% and 4.6% respectively, after their interim results. Platinum and chemicals firm Johnson Matthey also declared a special dividend.

Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: up 0.9% at 6,335.49
FTSE 250: up 0.3% at 17,135.23
AIM ALL-SHARE: up 0.2% at 730.36
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Hang Seng: up 1.4% at 22,500.22
Nikkei 225: closed up 1.1% at 19,859.81
DJIA: closed up 1.4% at 17,737.16
S&P 500: closed up 1.6% at 2,083.58
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GBP: up at USD1.5277 (USD1.5199)
EUR: up at USD1.0673 (USD1.0632)

GOLD: up at USD1,075.83 per ounce (USD1,068.43)
OIL (Brent): up at USD44.47 a barrel (USD43.73)

(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Thursday's Key Economic Events still to come
(all times in GMT)

09:00 EU Current Account
09:30 UK Retail Sales
11:00 UK CBI Industrial Trends Survey
12:30 EU ECB Monetary Policy Meeting Accounts
13:30 US Initial and Continuing Jobless Claims
13:30 Canada Wholesale Sales
15:00 US Conference Board Leading Indicator
15:00 US Philadelphia Fed Manufacturing Survey
15:30 US EIA Natural Gas Storage
17:30 US Fed's Lockhart speech
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Most members of the US Federal Reserve's monetary policy committee expect economic conditions to justify an interest rate hike next month, according to minutes issued Wednesday. Some members of the Federal Open Market Committee believed that the economy was strong enough already last month to end the near-zero benchmark interest rate in place since December 2008, notes from the central bank's October 27-28 meeting showed. "Most participants anticipated that - based on their assessment of the current economic situation and their outlook for economic activity, the labour market and inflation - these conditions could well be met by the time of the next meeting," the Fed minutes said.
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The Bank of Japan refrained from expanding monetary stimulus even after the economy slipped back into recession. The Monetary Policy Board of the BoJ governed by Haruhiko Kuroda decided by an 8-1 majority vote to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion. Policymakers turned cautious about inflation expectations. The bank said inflation expectations appear to be rising on the whole from a somewhat longer-term perspective, although some indicators have recently shown relatively weak developments.
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Japan recorded a merchandise trade surplus of JPY111.5 billion in October, according to new government data. This came as a surprise to economists, who had generally projected the country to see another deficit during the month. October's surplus reversed a deficit recorded in the previous month. Economists were expecting the gap to widen even further in October. Japan's Ministry of Finance said exports slipped 2.1% for the month. However, there was a far sharper decline in imports, with that figure dropping by 13.4%.
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The two suspected terrorists known to be still on the run following Friday's attacks in Paris were not arrested in a raid in a northern suburb of the French capital, Prosecutor Francois Molins said. Eight people - seven men and one woman - were taken in custody , the prosecutor said, briefing reporters about the seven-hour operation in the municipality of Saint-Denis. Their identities "have not been formally identified, but I can clarify to you that Abdelhamid Abaaoud and Salah Abdeslam are not among those taken in custody," Molins said. Abaaoud is a Belgian of Moroccan origin thought to have planned the shootings and bombings that left at least 129 people dead and 352 injured in Paris. The Islamic State extremist group has claimed responsibility for the attacks.
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Some 1,000 protesters clashed with police who used water cannons and batons to stop them from marching to a summit of Asia-Pacific leaders in the Philippines. The demonstrators fought back, hitting police officers with their placards and wooden sticks while pushing to try to get through the security barricade. The clash occurred about 1.2 kilometres away from the convention centre where Philippine President Benigno Aquino welcomed leaders for the annual Asia-Pacific Economic Cooperation summit.
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BROKER RATING CHANGES
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TRADERS: MERRILL LYNCH CUTS PARAGON GROUP TO 'UNDERPERFORM' ('NEUTRAL')
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TRADERS: MERRILL LYNCH CUTS ALDERMORE TO 'UNDERPERFORM' ('NEUTRAL')
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TRADERS: MERRILL LYNCH CUTS SHAWBROOK TO 'NEUTRAL' ('BUY')
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TRADERS: MERRILL LYNCH CUTS VIRGIN MONEY TO 'NEUTRAL' ('BUY')
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GOLDMAN INITIATES HASTINGS GROUP WITH 'BUY' - 204 PENCE
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COMPANIES - FTSE 100
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Vodafone Group said it is planning to raise GBP500.0 million in new debt through the issue of new equity-linked bonds and the purchase of cash-settled call options to hedge the company's equity exposure resulting from the bond issue. Vodafone said that, as the conversion rights on the bonds will be cash-settled, the issue and conversion of the bonds will not result in the issue of any new Vodafone shares, meaning no dilution for shareholders.
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Postal operator Royal Mail said its pretax profit fell in the first half of its financial year due to an acceleration of its cost-cutting plans in the UK, though revenue also declined and the group reiterated its full-year performance, as in the past, would be heavily dependent on the Christmas period. The company said its pretax profit for the half year to September 27 fell to GBP116.0 million from GBP167.0 million in the half to September 28, 2014, mainly due to more costs being booked from its restructuring plan in the UK and reflecting a higher number of voluntary redundancies. Nearly 3,000 net employees let the company in the first half. Royal Mail said it will pay an interim dividend of 7.0 pence per share, up from 6.7p a year before.
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Royal Mail on Wednesday said it has agreed a deal to acquire same-day delivery service eCourier for an undisclosed amount. The postal operator said eCourier primarily operates in the Greater London area and it will be combined with Royal Mail Sameday, its existing courier service.
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Irish building materials company CRH said it continues to expect its 2015 earnings to be well ahead of the previous year as it continued to deliver good sales growth in the first nine months. The group said total sales grew 16% year-on-year in the nine months to the end of September, though growth did slow to 14% in the third quarter. Europe sales growth for the third quarter was only 1.0%, amid mixed trading in the region, albeit with conditions stable overall. Sales growth continues to be driven by its Americas operation, CRH said, where third-quarter sales rose 23%, a slowdown from the 32% growth in the first half.
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Johnson Matthey said it will pay a special dividend to shareholders following the disposal of assets in the first half, as its pretax profit and revenue both rose despite mixed conditions in most of its markets, offset by a strong performance in its emission control unit. The group said it will pay an interim dividend of 19.5 pence per share, flat year-on-year, but said it also will pay a special dividend for the half of 150.0p, following the disposal of businesses during the half. The total distribution to shareholders from the special payout will be GBP305.0 million. Johnson Matthey said pretax profit for the six months to the end of September rose to GBP330.2 million, up from GBP207.8 million a year earlier, as revenue rose to GBP5.78 billion from GBP4.80 billion.
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Australian mining giant BHP Billiton said it was sorry for victims of a dam collapse in Brazil that killed 11 people, reports said. The firm was "deeply sorry for all those who have been impacted" and pledged to review its operations around the globe, chairman Jac Nasser told shareholders at the annual general meeting in Melbourne, according to broadcaster ABC. Another eight people were still missing, he said, after a dam holding back a tailing pond - containing a mixture of refuse material from ore processing and water - broke, sending the mud and sludge sweeping through the valley.
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The Australian Competition and Consumer Commission said that it will not oppose the proposed acquisition by Royal Dutch Shell of BG Group. Royal Dutch Shell agreed in early April to acquire BG Group in a cash and stock deal valued at about GBP47.0 billion. "The ACCC's view is that the proposed acquisition would be unlikely to substantially lessen competition in the wholesale natural gas market, in either Queensland or eastern Australia more broadly," ACCC Chairman Rod Sims said. The proposed acquisition is still conditional on approval by China's competition authority and Australia's Foreign Investment Review Board. It has already received merger clearance by competition authorities in the US, Brazil, Europe, Japan and Korea.
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Aerospace and defence components company Meggitt said it has secured a sole-source contract from The Boeing Co, the US aircraft manufacturer, to provide its Cargo Smoke Detection System for the Boeing 777X aircraft. Production for the new contract will start in 2017 at Meggitt's facility in Simi Valley in California, with the jets to enter service in 2019.
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COMPANIES - FTSE 250
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Poundland Group said pretax profit fell in the first half due to higher costs and said like-for-like also declined due in part to tough comparatives, though it said the acquisition of 99p Stores Ltd has progressed in line with its expectations. The single-price discount retailer said its pretax profit for the 26 weeks to September 27 was GBP5.3 million, down from GBP9.3 million a year earlier, mostly due to exceptional distribution and administrative expenses it incurred in the half. Total revenue rose to GBP561.1 million, up from GBP528.2 million, with underlying sales rising 5.6% in constant currencies but like-for-like sales down 2.8%, compared to a 4.7% rise a year earlier. The group said it will pay an interim dividend of 1.65 pence per share, up from 1.50p a year earlier.
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Euromoney Institutional Investor announced a new board structure, spurred by a strategic review from recently appointed Executive Chairman Andrew Rashbass, who will now become the company's chief executive officer, as it reported a fall in adjusted pretax profit for its full year. Rashbass, who took up the role of executive chairman at the beginning of October, has proposed that the company have a more traditional board structure, including the appointment of an independent non-executive chairman and creating the role of chief executive officer. For the full year to end-September the company reported a pretax profit of GBP123.3 million, up from GBP101.5 million a year before. Euromoney proposed a final dividend of 16.40 pence, taking its total dividend for the year to 23.40 pence, up from 23.00 pence a year before.
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Domino's Pizza Group said Chief Financial Officer Paul Doughty has tendered his resignation, and will step down from the board at the end of the calendar year. The company has begun the process of recruiting Doughty's replacement, in the meantime Chief Executive Officer David Wild will assume responsibility for the company's finance activities. Domino's noted that it remains comfortable with current market expectations for its 2015 results.
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Investec reported higher first-half profit despite continued pressure from the weakness of the South African rand against its sterling reporting currency, as the financial services group highlighted the performance of its specialist banking business. The Anglo-South African bank and asset manager said that operating profit, which excludes the effects of goodwill, acquired intangibles, non-operating items and taxation and after other non-controlling interests, rose to GBP279.4 million in the six months to September 30 from GBP240.8 million the corresponding half the prior year. Investec lifted its interim dividend per share to 9.5 pence from 8.5p.
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Mid-cap engineer Senior said its adjusted pretax profit is set to come in at the low-end of market expectations due to the challenging market conditions it has faced, and said it has struck a USD90.0 million deal to acquire Steico Industries in the US.
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The battle launched by Irish financier Dermot Desmond to block the proposed merger of bookies Ladbrokes and Gala Coral Group has gathered some momentum, The Daily Telegraph reported, after a top ten shareholder in the company said he would meet with Desmond to discuss his concerns. Earlier this week, Desmond sent a letter to fellow Ladbrokes shareholders arguing the proposed merger will lead to the "death" of Ladbrokes as an independent company, urging shareholders to vote against the deal. Desmond, who controls Celtic Football Club in Scotland, is thought to have a stake of between 1.0% and 2.0% in Ladbrokes. The Telegraph said a top ten shareholder, whom it did not name, told the paper he shared some of the concerns Desmond had outlined and would meet with the billionaire to hear his grievances.
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COMPANIES - INTERNATIONAL
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Pfizer is in advanced talks to buy Botox maker Allergan for as much as USD380 per share, according to media reports citing people familiar with the matter. A deal at USD380 per share would value Allergan at almost USD150 billion. The companies reportedly are aiming to announce a deal as soon as Monday, the people said.
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German steel maker ThyssenKrupp said its full-year attributable net income increased to EUR309 million from EUR212 million in the previous year. Net sales improved to EUR42.778 billion from last year's EUR41.212 billion.
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Alibaba Group Holding reported the official launch of its Entrepreneurs Fund for Hong Kong to support entrepreneurs who wish to take advantage of the resources offered by Alibaba's ecosystem in e-commerce, logistics, mobile platforms, cloud computing and financial services.
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Thursday's Scheduled AGMs/EGMs

Close Brothers Group
Genus
Lonmin (re rights issue)
JPMorgan Global Emerging Markets Income Trust
Imperial Innovations
Ruffer Investment Co
Ludgate Environmental Fund
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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