Bowleven Share News (BLVN)

LONDON (Alliance News) - Shares have opened higher Monday ahead of a week with a full calendar of economic data reports scheduled.

Rolls-Royce Holdings PLC said it has won a deal worth more than USD50 million to support the US Marines Corps' fleet of KC-130J air-to-air refuelling tankers.

Polymetal International PLC said it swung to a net loss in 2013 as gold prices, impairments and cash costs hit the company.

Barclays has raised its price target for ASOS to 8,000 pence from 6,000p, retaining an Overweight recommendation. ASOS shares were up 2.5% at 5,148.00p at the open Monday.

Here is what you need to know at the UK market open:
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MARKETS
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FTSE 100: up 0.6% at 6,657.16
FTSE 250: up 0.6% at 16,274.64
AIM ALL-SHARE: flat at 850.81
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Hang Seng: up 0.2% at 22,109.15
Nikkei 225: closed up 0.9% at 14,827.83
DJIA: closed up 0.4% at 16,323.06
S&P 500: closed up 0.5% at 1,857.62
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GBP-USD: down at USD1.6636
EUR-USD: down at USD1.3748

GOLD: down at USD1,291.76 per ounce
OIL (Brent): down at USD107.83 a barrel

(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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Monday's Key Economic Events still to come

09:30 UK M4 Money Supply
09:30 UK Consumer Credit, Mortgage Approvals and Net Lending to Individuals
10:00 EU Consumer Price Index
10:00 Italy Consumer Price Index
13:30 Canada Gross Domestic Product
14:45 US Chicago Purchasing Managers' Index
14:55 US Fed's Yellen Speech
15:30 US Dallas Fed Manufacturing Business Index
16:30 US 3-Month and 6-Month Bill Auction
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The average asking price for a house in the UK was up 0.6% on month in March, property tracking website Hometrack said. That's slowing from the 0.7% growth in February - although it marks the 14th straight month that prices have increased, marking the longest streak in seven years. On a yearly basis, house prices jumped 5.7% - accelerating from 5.4% in the previous month.
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Germany's retail sales grew unexpectedly in February from the prior month, official data showed. Retail sales advanced by real 1.3% from January, Destatis said. This was the second consecutive rise in retail turnover. Sales were forecast to fall 0.5% in February after rising 1.7% in January. Year-on-year, retail sales grew 2%, much faster than the 0.9% rise posted in January. The rate also exceeded the 0.8% increase forecast by economists.
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FRANCE Q4 GDP UP UNREV 0.3% ON QUARTER VS. -0.1% IN Q3
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US Secretary of State John Kerry made clear Sunday that a solution to the crisis in Ukraine will be acceptable only in close consultation with the new Ukrainian government. Speaking to reporters in Paris after five hours of talks with Russian Foreign Minister Sergei Lavrov, Kerry said he told Lavrov that Washington still considers Russia's actions in Crimea illegal. He also reiterated Washington's unease over an estimated 40,000 Russian troops gathered on Ukraine's eastern border, saying any real progress in Ukraine must include a pull back of those forces.
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The French government was in full soul-searching mode Sunday after the conservative opposition trounced the governing Socialist Party in a municipal election run-off that also yielded gains for the far-right National Front. Voters across the country used the election for town councils and mayors to vent their frustration with President Francois Hollande's failure to turn around the battered French economy.
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Turkish Prime Minister Recep Tayyip Erdogan declared his Justice and Development Party the winner in Sunday's local election, seen as a referendum on his government. Preliminary results showed the conservative AKP had garnered 45.1% of the overall vote, with more than 90% of ballots counted, while the main rival Republican People's Party (CHP) received 28.7%, according to CNN Turk television. In a speech to thousands of cheering supporters standing in the cold in Ankara, Erdogan lashed out at the opposition, labeling some as "traitors."
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Greece on Sunday secured the next tranche of rescue bailout loans by passing key market and structural reforms demanded by international lenders. The bill, which paves the way for the liberalization of the labour market and structural reforms, received 152 votes in favour and 135 against in the 300-seat parliament.
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Japan's housing starts growth slowed more than expected in February, data showed Monday. Construction orders also grew at a slower pace after accelerating in January. Housing starts rose 1% in February from last year, the Ministry of Land, Infrastructure, Transport and Tourism reported. Economists were expecting 6.1% expansion after rising 12.3% in January.
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Industrial production in Japan contracted a seasonally adjusted 2.3% on month in February, the Ministry of Economy, Trade and Industry said - falling for the first time in four months. The headline figure was well shy of forecasts for an increase of 0.3% following the 3.8% increase in January. On a yearly basis, industrial production added 6.9% - also missing expectations for 9.9% following the 10.3% jump in the previous month.
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North Korea held military exercises near the maritime border with the South, drawing response fire from Southern troops, a news report said. Some artillery shells from the North landed on the other side of the Northern Limit Line, a disputed maritime border off the west of the peninsula, prompting South Korean forces to fire self-propelled howitzer shells in response, the South's joint chiefs of staff were quoted as saying by Yonhap News Agency in Seoul.
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Australian Prime Minister Tony Abbott said Australia owes it to the families of the 239 passengers and crew of the missing Malaysia Airlines flight to keep up the search. "I'm certainly not putting a time limit on it," Abbott said in Perth after breakfasting with air crews involved in the search 1,850 kilometres west of the city. "We owe it to the families, we owe it to everyone who travels by air, we owe it to the governments of the countries who had citizens on that aircraft," Abbott told reporters.
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A UN-backed panel said climate change impacts are already taking place on all continents and across the oceans. However, the world is unprepared for risks from a changing climate. The Intergovernmental Panel on Climate Change finalized a report on the impacts of climate change on human and natural systems, and possible methods of adaptation during the five-day conference last week in the Japanese city of Yokohama. "Impacts from recent climate-related extremes, such as heat waves, droughts, floods, cyclones and wildfires reveal significant vulnerability and exposure of some ecosystems and many human systems to current climate variability," the report said.
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BROKER RATING CHANGES
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SOCGEN CUTS TESCO PRICE TARGET TO 240 (270) PENCE - 'SELL'
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SOCGEN CUTS SAINSBURY PRICE TARGET TO 330 (370) PENCE - 'HOLD'
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SOCGEN CUTS MORRISON PRICE TARGET TO 170 (200) PENCE - 'SELL'
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BARCLAYS RAISES ASOS PRICE TARGET TO 8000 (6000) PENCE - 'OVERWEIGHT'
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DEUTSCHE BANK RAISES RECKITT BENCKISER PRICE TARGET TO 6000 (5100) PENCE - 'BUY'
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COMPANIES - FTSE 100
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Rolls-Royce Holdings PLC said it has won a deal worth more than USD50 million to support the US Marines Corps' fleet of KC-130J air-to-air refuelling tankers. In a statement, the aircraft engine maker said the one-year contract covers sustainment services for more than 200 Rolls-Royce AE 2100 engines as well as propellers and other propulsion system repairs for the KC-130J fleet.
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GlaxoSmithKline PLC said its Phase III STABILITY study for darapladib in the treatment of patients with chronic coronary heart disease failed to meet its primary endpoint, although it said that the effects of the drug on the reduction of coronary events was of potential interest.
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COMPANIES - FTSE 250
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Polymetal International PLC said it swung to a net loss in 2013 as gold prices, impairments and cash costs hit the company. The gold, silver and copper-mining exploration and production company, with operations in Russia and Kazakhstan, posted a net loss of USD198 million from a net profit of USD428 million in 2012, as revenues fell 8% to USD1.71 billion from USD1.85 billion.
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Carillion PLC said it has been selected as preferred bidder on a GBP200 million support services contract by the Nottingham University Hospitals NHS Trust. Under the deal, Carillion would provide facilities management and estate transformational services for the trust, which includes Queen's Medical Centre and Nottingham City Hospital.
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UNITE Group Says UNITE Student Accommodation Fund Completed GBP106M Fundraising, GBP55M From UNITE, Rest From Investors
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Lonmin PLC said former Anglo American PLC executive Brian Beamish will become the interim chairman of its board from May 1, after Roger Phillimore stands down the previous day. The miner had already said Phillimore intended to retire, but Monday said he will step down on April 30.
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Entertainment One Appoints Allan Leighton As Chairman
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Vedanta Chief Executive Tom Albanese Also Becomes Chief Executive Of Subsidiary Sesa Sterlite Ltd
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COMPANIES - ALL-SHARE AND AIM
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Shanks Group Expects FY Results In Line With Its Expectations; Says Has Continued To Trade Robustly In Recent Weeks
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Bowleven H1 Pretax Loss Narrows, USD6.6M Vs USD9.4M; Says Discussions Ongoing Over Potential Farm-Out Of Interests In Etinde And Bomono
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Skyepharma To Raise GBP112M In Placing, Open Offer To Repay Bonds, For Working Capital; FY Pretax Loss GBP1.0M Vs Pretax Loss GBP10.4M; Revenue GBP62.6M Vs GBP49.9M; Says Combination Of Further Product Launches, Approvals And Reduction Of Debt Improves Its Outlook
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Quindell FY Pretax Profit GBP107.0M Vs GBP35.4M; Revenue GBP380.1M Vs GBP163.0M; Maiden Dividend 0.1p, Progressive Dividend Policy Being Adopted; Confident For Growth In 2014 And Beyond, Exceeding Current Expectations
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YouGov H1 Pretax Loss GBP427,000 Vs GBP191,000 Profit; Adjusted Pretax Profit GBP3.0M Vs GBP2.6M; Revenue GBP32.6M Vs GBP30.1M
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Pochins Confirms Discussions Are On-Going With James Nicholson Over Possible Offer;Says Offer Deadline Extended To April 28
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Peter Jones Has 87.81% Total Interest In Expansys, Including Offer Acceptances; Says Has Applied For Cancellation Of AIM Trading By Expansys On April 14
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Filtronic Expects Wireless Revenue In H2 To Be 60% Below H1, Causing "Small" Operating Loss For Period; Expects Broadband Underlying Sales In H2 To Be To Be Similar To H1, Plus Benefit From Sizeable Legacy Purchase; Says Broadband H2 Operating Loss To Be Slightly Lower Than H1, With Profit In Last 2 Months; Expects To Be Broadly Break Even On Operating Profit For Full Year
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Christie Group FY Pretax Profit GBP541,000 Vs GBP1.1M; Revenue GBP54.2M Vs GBP56.1M; Says 2014 Began With Strong Pipeline Of Future Projects
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Blinkx Expects FY Revenues Of Between USD245M To USD247M; Expects FY Adjusted Ebitda Of Between USD37M To USD39M
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James Halstead H1 Pretax Profit GBP20.4M Vs GBP21.2M; Revenue GBP110.9M Vs GBP109.0M
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boohoo.com Says FY Ended In Line With Market Expectations; Net Revenue Over GBP109M, Up 62%; Says FY Statutory Adjusted EBITDA Also In Line, Up 200% From GBP3.9 Year Before
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Monday's Scheduled AGMs/EGMs

Stobart Group
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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