Barclays Share News (BARC)

LONDON (Alliance News) - The following is a summary of top news stories Thursday.
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COMPANIES
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The terms of a proposed settlement filed on Wednesday in the US will see Barclays Capital Inc, part of Barclays, pay a USD23.0 million sum to the creditors of Thornburg Mortgage Inc, settling allegations of "improper" margin calls that contributed to the bankruptcy of the mortgage lender, the Wall Street Journal reported. The agreement was reached with the court-appointed trustee overseeing the liquidation of Thornburg Mortgage.
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GlaxoSmithKline said late Wednesday the US Food and Drug Administration has approved its Arnuity Ellipta treatment for asthma in patients aged 12 years and older. Arnuity is not indicated for the relief of acute bronchospasm, Glaxo said. It was approved for 100 microgram and 200 microgram doses, and is administered daily via the Ellipta dry powder inhaler, which is also used for a range of other respiratory medicines in Glaxo's portfolio.
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AstraZeneca said it has partnered with Illumina Inc to develop a gene-sequencing platform for companion diagnostic tests, applicable across AstraZeneca's oncology portfolio. AstraZeneca plans to use Illumina's technology for a diagnostic test in studies for one of its investigational oncology compounds, which AstraZeneca said could speed up the clinical trial process.
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Kazakhmys said that it narrowed its pretax loss in the first-half while revenue fell as the company reduced its output at several higher cost, lower grade operations as part of its restructuring programme. In the six months to June 30, 2014, Kazakhmys said its pretax loss narrowed by more than half to USD118 million from the USD244 million loss reported last year. Revenue slipped during the period to USD1.30 billion from USD1.60 billion in 2013.Underlying profit also fell, coming in at USD29 million from USD115 million in the comparable period last year.
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Premier Oil posted a big drop in pretax profits despite a rise in sales revenue in the first half, as its cost of sales increased and it was hit by impairment charges in the UK and by an accounting loss on the sale of the Block A Aceh site in Indonesia. The company said pretax profit was down to USD50.4 million in the six months to June 30 from USD214.6 million last year. That was despite a rise in sales revenue in the period to USD884.7 million from USD757.8m a year ago. Premier did not proposed an interim dividend, in line with last year, but said it will continue distributions to shareholders through an ongoing share buyback programme. The firm said it would continue the share buyback until its share price "better reflects the underlying value of the business".
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WH Smith said it expects full-year results to be in line with market expectations, adding that both of its main business lines remain highly cash generative. The FTSE 250-listed retailer said results for the year to August 31 should be in line with market expectations. It said its travel arm is continuing to perform well, and its new store opening programme is on track both in the UK and internationally. In retailer's high street arm, the firm said its focus on gross margin gains and tight cost controls was translating into a positive performance.
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Quindell reiterated confidence in meeting all of its key performance indicators for the full year, on revenue guidance of GBP800 million to GBP900 million, as it saw profit rise in the half year to end-June. The software and outsourcing services company also appointed Stefan Borson as its chief legal and communications officer. Quindell posted a pretax profit of GBP153.7 million, up from GBP39.2 million in the previous year, as revenue rose to GBP357.3 million from GBP163.3 million. Profit also was boosted by a GBP14.5 exceptional gain on the re-measurement of acquisitions.
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MARKETS
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UK stocks are higher despite early caution in light of a more hawish tone from both the Bank of England and the Federal Reserve, and with an update of Fed Chair Janet Yellen's latest thoughts on the US economy due from Jackson Hole on Friday, while the AIM All-share is underperforming due to selling pressure on insurance outsourcer Quindell.
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FTSE 100: up 0.3% at 6777.81
FTSE 250: up 0.3% at 15802.19
AIM ALL-SHARE: down 0.2% at 763.18
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The pound weakened against the dollar, after data showed that UK retail sales grew less than expected in July as household goods store sales deteriorated.
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GBP-USD: down at USD1.6582
EUR-USD: up at USD1.3266

GOLD: down at USD1280.65 per ounce
OIL (Brent): down at USD101.42 a barrel

(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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UK retail sales grew less than expected in July as household goods store sales deteriorated, official data showed. Including auto fuel, retail sales volume grew 0.1% in July from a month ago, slower than the revised 0.2% increase in June. Economists had forecast sales to grow 0.4%. Excluding auto fuel, retail sales advanced 0.5%, reversing the 0.1% fall in June. It was also slower than the expected growth of 0.4%. On a yearly basis, overall retail sales volume growth slowed to 2.6% from 3.4% in June. Economists had forecast 3.1% increase for July. Excluding auto fuel, sales were up 3.4%, slower than the 3.8% rise in June.
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The UK budget deficit narrowed in July, the Office for National Statistics reported. Public sector net borrowing excluding interventions came in at GBP0.2 billion in July versus GBP1 billion a year ago. Excluding transfers to Asset Purchase Facility, the deficit totaled GBP0.8 billion compared to a GBP1.6 billion shortfall last year. In July, public sector net debt excluding financial interventions came in at GBP1.299 trillion, equivalent to 76.5% of gross domestic product.
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The Eurozone private sector growth slowed by more than expected in August as manufacturing posted its weakest expansion in 13 months, flash data from Markit Economics showed. The composite output index fell to 52.8 in August from 53.8 in July. The indicator was expected to fall marginally to 53.4. The headline index has now remained above the neutral 50.0 mark for 14 successive months. The services Purchasing Managers' Index declined more-than-expected to 53.5 in August from 54.2 in July. The expected reading for August was 53.7. Similarly, the manufacturing PMI fell to 50.8, a 13-month low, from 51.8 in July. It was forecast to fall to 51.3.
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The US Federal Reserve debated when to hike interest rates amid signs the labour market has moved closer to normal, according to the minutes of the Fed's July policy meeting issued late Wednesday. At the meeting held July 29-30, the Federal Open Market Committee voted 9-1 to maintain its current policy of very gradually withdrawing stimulus from the US economy. Fed forecasts show most officials expect to start raising rates next year, but some members are now making the case for a "relatively prompt" rate hike. The majority of Fed voters, however, think the Fed should be patient before hiking rates, as slack in the labor market remains a concern. The jobless rate rose to 6.2% in July.
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The manufacturing sector in China continued to expand in August, although it slowed dramatically, the latest flash purchasing managers' index from HSBC revealed on Thursday - with a three-month low score of 50.3. That was well shy of forecasts for a score of 51.5 and down sharply from 51.7 in July. A score above 50 means expansion in a sector, while a reading below 50 signals contraction.
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The manufacturing sector in Japan continued to expand at an accelerating pace in August, the latest flash purchasing managers' index from Markit Economics revealed on Thursday - with a score of 52.4. That handily beat forecasts for a score of 51.5 following the 50.5 reading in July.
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US President Barack Obama Wednesday vowed the US and its allies will be "vigilant and relentless" in striking against the Islamic State terrorist group and condemned the beheading of a US journalist. Speaking from Martha's Vineyard where he is on vacation with his family, Obama called for Middle Eastern nations and others to join together to "extract this cancer so it does not spread." A video released Tuesday by the terrorist group showed a masked extremist with a British accent beheading James Foley, 40, who went missing in Syria in November 2012.
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Israeli jets fired at 20 targets in the Gaza Strip overnight, a military spokeswoman said, as the United Nations made a renewed call for a ceasefire between Israel and Palestinian militant groups. The airstrikes hit various sites across Gaza, the military said. One rocket launched at Israel during the night was intercepted, the Israeli army said, following some 175 that were fired on Wednesday. The UN Security Council late Wednesday called on Israel and Palestinian negotiators to return to the table and "urgently reach a sustainable and lasting ceasefire."
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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