Barclays Share News (BARC)

LONDON (Alliance News) - Stocks in London finished the week mixed as commodity miners were unable to keep the FTSE 100 in the green with Vodafone dragging the index lower.The FTSE 100 closed down 9.73 points, or 0.1%, at 6,809.22. The blue chip index lost 2.3% in the past five days.The FTSE 250 ended up 15.95 points, or 0.1%, at 18,643.58, and the AIM All-Share finished down 4.83 points, or 0.5%, at 911.82.The Cboe UK 100 ended down 0.2% at 11,569.54, while the Cboe UK 250 closed 0.1% lower at 16,644.14 and the Cboe UK Small Companies finished up 0.5% at 11,196.88.In mainland Europe, the CAC 40 in Paris and the DAX 30 in Frankfurt ended up 1.1% and 1.4% respectively."So far the week is ending with another bounce, and this time it is the US Fed rather than China that gets the credit. Suggestions of yet more softness in Fed policy, this time with regard to the balance sheet, have tempted a few more investors into the water. While the Fed's approach is not perhaps the key driver of risk-off moves, it is good to know that, with trade wars and a shutdown driving sentiment, that the Fed is not about to make the situation worse," said IG Chief Market Analyst Chris Beauchamp. "This week has seen the market shrug off attempts at another sell-off similar to December's rout, and it looks like the generally positive atmosphere provided by earnings season has been reason enough to keep buying on the dips." On Wall Street, at the London close, the Dow Jones was up 0.9%, the S&P 500 up 0.9%, and the Nasdaq Composite 1.1% higher. "The Dow Jones joined in with the European rally after the bell, adding 250 points as the markets let rip," said Spredex analyst Connor Campbell. Campbell continued: "Setting aside Commerce Secretary Wilbur Ross's claim that the US and China are 'miles and miles' away from a deal, a gap investors are hoping will be bridged following Vice Premier Liu He's trip to Washington next week, the Dow crossed 24,800 for the first time in 2019, hitting a level last struck in early December."The euro was at USD1.1409 at the European equities close Friday, higher against USD1.1324 at the same time on Thursday.Investors Service Moody's said economic growth in the UK is "slowing", declaring the country faces "significant" and "permanent" damage if the UK leaves the EU without a deal.In its latest Brexit report, the credit ratings agency blamed "significantly weaker" consumption and a "worsening" housing market for the slowed economic growth.Moody's noted that although the country's production has contracted, the UK's large services sector has contributed to growth, driven by professional and technical activities."While UK economic growth has decelerated in recent months and construction activity is sluggish, PMI surveys signal a slight improvement in sentiment from low levels," said Colin Ellis of Moody's. "If no deal is reached between the UK and the EU, the UK economy could face significant and permanent damage."Moody's said consumption indicators have "significantly deteriorated" compared to historical averages with consumer confidence in particular worsening compared to the levels recorded before the Brexit referendum in 2016.Investment and investment intentions decreased "substantially" in the second half of 2018, with "even more pronounced" decreases in the final months of the year. Moody's noted the headline inflation rate has stabilised close to the Bank of England's target of 2.0%.Manufacturing and services employment intentions were "weak" at the end of 2018 compared to the beginning of the year.Moody's said housing market indicators are trending below five-year averages with the number of approved mortgages for house purchases falling "markedly" in recent months.The performance of the stock market "weakened" in December as overall financial conditions deteriorated as the year went on, the credit ratings agency noted. In London, FTSE 100-listed Vodafone lost 5.1%, the worst performer. The telecommunications firm reiterated its annual guidance, despite reporting a fall in revenue for its third quarter.For the three months to December 31, Vodafone's revenue was EUR11.00 billion, down 6.8% on a reported basis year-on-year. This figure was hindered by accounting changes, the sale of Vodafone's stake in its Qatari business, and foreign exchange movements.In the third quarter, organic service revenue rose 0.1% year-on-year, slowing from 0.5% annual growth in the second quarter. Using Vodafone's previous accounting method, growth actually improved to 0.4% from 0.3% in the prior quarter.On a reported basis, Vodafone's service revenue fell to 3.9% to EUR9.79 billion. The telecommunications firm announced late Friday it is suspending the purchase of components made by Chinese tech giant Huawei Technologies Co Ltd for its core telecom networks.Vodafone said it will "pause" the purchase of Huawei gear for use in its 5G networks amid uncertainty over whether some governments in Europe will ban the Chinese company. Chief Executive Officer Nick Read said the suspension of Huawei equipment purchases would affect only its European networks, though his company uses Huawei equipment in Spain and other smaller markets.Miners surged to the top of London's large cap index on rising commodity prices. Mexican miner Fresnillo ended 6.1% higher, the best large cap performer, after UBS raised the stock to a Buy rating from Neutral.Fellow commodity firm Glencore gained 3.7, and Antofagasta closed 4.0% higher. Anglo American closed 4.3% higher, Rio Tinto 3.2% and BHP 2.6%.Gold was higher, quoted at USD1,299.50 an ounce at the close Friday against USD1,282.20 on Thursday.Madded added: "Gold has rallied on the softer US dollar. The metal continues to have an inverse relationship with the greenback, and given the commodity was subdued for most of this week, today's move might be the start of another attempt on the USD1,300 mark."UK domestic lenders also experienced a boost Friday with the rise of the sterling on reports Theresa May's Brexit "Plan B" could get through parliament with the help of Northern Ireland's DUP.Lloyds ended 1.5% higher, with RBS and Barclays gaining 1.0% and 0.9%, respectively.The pound was quoted at USD1.3173, up from USD1.3034 at the close on Thursday.CMC's David Madded said: "Sterling is higher on the report the DUP are happy to back Theresa May's Plan B proposal if it includes a timeframe for the Irish backstop. Traders are viewing this as a sign an agreement might be reached, but Brussels will need to be convinced too, and that is likely to be difficult."In London's midcap index Intu Properties closed the day 4.9% higher clawing back early losses. Citigroup has reduced the shopping centre ownerto to Sell from Neutral. Citigroup cut peer Hammerson to Sell, which closed up 1.2%. Weir Group ended 4.3% higher after Societe Generale raised its rating of the oil services stock to Buy from Hold. At the other end of the FTSE 250, Irn Bru-maker AG Barr ended the worst performer, losing 4.5%, as it reported "continued positive trading" in its year ending Saturday, with revenue guided to be 5% up year-on-year at around GBP277 million.Core brands did well, AG Barr said, with further UK market share gains made in soft drinks.Value growth has "significantly" outstripped volume growth in the period due to the UK government's soft drinks levy, and AG Barr expects to return to a more value-led strategy in 2019.Looking ahead, AG Barr is confident despite Brexit uncertainty and likely further regulatory intervention in the soft drinks industry in the UK.Elsewhere on the Main Market, west London brewer and pub operator Fuller, Smith & Turner gained 16% as it announced it has sold its beer business to Japan's Asahi Group for an enterprise value of GBP250 million.The business includes all beer, cider, and soft drink production, wine wholesaling, as well as all distribution.Fuller's expects net cash from the sale of GBP205M, and it will return between GBP55 million and GBP69 million of this to shareholders via dividends, which will not affect its existing dividend plan.Meanwhile, Fuller's said trading as been "very strong", with like-for-like sales in Managed Pubs & Hotels rising 5.6% year-on-year in the 10 weeks to January 19 and 4.7% in the 42 weeks to the same date.In London's junior market, Midatech Pharma shed 34%. The firm is urgently looking to conclude a deal with a strategic investor with cash funds rapidly running dry. Meanwhile, the drug development firm also explained it had secured clarity on how to progress its MTD201 clinical plan.AIM-listed Earthport jumped 31% as it received an increased offer from Mastercard, and has agreed a 33 pence per share deal. Previously, Visa had offered 30p per share.The new agreement values Earthport at GBP233 million, and Earthport's board has recommended shareholders accept the offer.Brent oil was quoted at USD61.34 a barrel, higher than USD61.08 late Thursday.In the US, Roger Stone, a former campaign manager to US President Donald Trump, was arrested on Friday, the office of special counsel Robert Mueller reported, and faces charges of obstruction of justice.The charges, which were filed on Thursday and released on Mueller's website a day later, allege that Stone impeded the counsel's probe into tampering with the 2016 US elections by providing false testimony and trying to influence witnesses.According to the document, the charges relate to a computer hacking incident that targeted the Democratic National Committee for information related to the failed presidential campaign of Hillary Clinton.The charge sheet alleges that Stone, when he appeared before the counsel, lied about his knowledge of the hacking incident and that he attempted to get others to change their testimony.Mueller's investigation was begun amid allegations that a foreign power, believed to be Russia, attempted to steer the elections to ensure Trump's victory.The UK corporate calendar next week has full year result from SThree on Monday. Tuesday has half year results from Hargreaves Lansdown and trading statements from Royal Mail and Domino's Pizza.Wednesday will see Wizz Air release third quarter results and full year results from Low & Bonar.A busy Thursday has London's biggest company Royal Dutch Shell release its full year results with fellow FTSE 100 member Unilever also releasing full year results. Diageo is expected to release its interim results. The economic events calendar next week has Japan retail sales on Tuesday, French GDP, German import prices and CPI and UK mortgage approvals on Wednesday.The UK parliament is due to vote on Prime Minister Theresa May's Brexit Plan B on Tuesday. Thursday sees UK housing prices, French CPI and German retail sales and unemployment figures. Friday has manufacturing PMI figures from China, Japan, Germany, the Eurozone and the UK. US data releases are likely to be postponed due to the US government shut-down, which next week includes nonfarm payrolls, the Fed's interest rate decision and jobless numbers.