GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBTG Share News (BTG)

  • There is currently no data for BTG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

MARKET COMMENT: M&S Leads Gainers In A Flat FTSE 100

Thu, 02nd Apr 2015 09:45

LONDON (Alliance News) - London's main stock indices are mixed mid-morning Thursday ahead of the long Easter weekend, but Marks and Spencer Group is the best-performing stock in the FTSE 100 after its UK general merchandise business returned to growth after three years.

The FTSE 100 is flat at 6,812.78, while the FTSE 250 is up 0.6% at 17,224.75 and the AIM All-Share index is down 0.2% at 714.18.

Marks & Spencer is up 5.7% at 559.64, its highest level since January 2008, after the retailer reported UK sales growth that beat analysts' expectations, driven by strong online growth and the first rise in general merchandise sales for three years, although its international sales fell due to the crisis in Russia and Ukraine and issues in its Turkish franchise business.

The retailer reported 1.6% growth in group sales for the 13 weeks to March 28, as a 2.7% rise in UK sales offset a 3.8% decline in international sales. In the UK, food sales grew 3.7%, or 0.7% on a like-for-like sales basis, with record Valentine's Day sales. General merchandise sales, meanwhile, grew 1.3% and 0.7% on a like-for-like basis, the first growth in three years. Online sales grew 13.8%.

BTG is the best performer in the mid-cap index, up 5.4%. The healthcare company said it expects its revenue in the financial year that ended on Tuesday to be above the guidance range it had previously provided of GBP345 million to GBP360 million, including revenue from the PneumRx acquisition that was completed in early January. It also expects revenue to grow strongly in the year that has just begun to between GBP410 million and GBP440 million on a constant currency basis.

The FTSE 350 mining sector index is down 1.2% after the iron ore price came under more pressure. In the FTSE 100, BHP Billiton is down 2.2%, Glencore is down 1.7%, while Antofagasta and Anglo American are down 1.6%. In the FTSE 250, Vendanta Resources is down 1.7% and Kaz Minerals is down 0.7%.

"Earlier this week, we wrote that many watchers of the space were expecting iron ore to fall as low as USD45 a tonne. The price certainly continues to trend in that direction: yesterday, the key USD50 a tonne psychological mark was breached, with the iron ore price falling to USD49.53 a tonne. The situation was helped by speculation in the press that up to 40% of steel capacity has been marked for closure," says Shore Capital analyst Yuen Low.

UK construction sector growth slowed more-than-expected in March due to a slower increase in output and new orders, while confidence rose to the highest level for just over nine years, survey data from Markit Economics showed Thursday. The Chartered Institute of Procurement & Supply/Markit construction Purchasing Managers' Index fell to 57.8 in March from 60.1 in the previous month. It was forecast to drop to 59.8. However, any reading above 50 indicates expansion in the sector

The pound retreated against the dollar following the data release, and trades at USD1.4802.

European indices are also mixed, with the CAC 40 in Paris flat and the DAX 30 in Frankfurt down 0.1%.

Greece submitted a new set of economic reforms to European authorities on Wednesday, marking the most comprehensive effort yet taken by the country's newly-elected left-wing government to unlock the EUR7.2 billion in bailout fund it will need to prevent it from going bankrupt, the Financial Times reports.

The 26-page document, seen by the FT, will rely on plans to crack down on tax evasion and fraud in order to raise as much as EUR6 billion this year. The measures include raising EUR875 million from audits of offshore bank transfers and EUR600 million from a new lottery scheme aimed at compelling Greek consumers to demand value-added tax receipts.

"The latest Greek reforms proposal looks like it will be deemed insufficient in more bad news for the debt-ridden country; the further we enter April without a resolution, the sweatier the Greek brows will be getting as the Athenian coffers gradually are replaced with tumbleweed," says Spreadex analyst Connor Campbell.

Oil prices rose overnight after four workers were killed and about 10 were injured in a blast and resulting fire on a Mexican oil rig in the Gulf of Mexico, the state-controlled firm Petroleos Mexicanos (Pemex) said. The injured in the accident, which prompted the evacuation of about 300 workers, were taken to hospitals in Ciudad del Carmen on the Mexican mainland.

Pemex Chief Executive Emilio Lozoya travelled to the area in the Gulf of Mexico to supervise efforts to put out the fire. Navy personnel were assisting Pemex staff in the effort. Pemex said that eight firefighting boats were on hand to fight the fire on the Abkatun rig in the Campeche Sound in south-eastern Mexico.

Oil prices have pared some of the overnight gains, but Brent crude is still trading higher on the day at around USD57.07 a barrel, while US benchmark West Texas Intermediate is trading at USD49.95 a barrel.

In the US, Initial jobless claims data is due to be released at 1330 BST, with economists expecting a slight increase of 285,000, but this will be a pre-cursor to the US employment report due out on Good Friday.

"Tomorrow's US Non-Farm Payrolls are likely to initiate movement in futures trading into the weekend with the US and UK markets on holiday," says Accendo Markets analyst Augustin Eden.

US futures point to a lower opening, with the DJIA set to open down 0.3%, the S&P 500 down 0.4% and the Nasdaq 100 down 0.5%.

By Daniel Ruiz; danielruiz@alliancenews.com

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
8 Jun 2016 13:18

Wednesday broker round-up

(ShareCast News) - Hochschild Mining: UBS downgrades to neutral with a target price of 160p. Esure Group: JP Morgan keeps at overweight with a 330p target. Royal Dutch Shell: RBC reiterates outperform with a target price of 2000p and JP Morgan stays atneutral with a target price of 1630p. National

Read more
19 May 2016 08:30

BROKER RATINGS SUMMARY: Goldman Sachs Upgrades BT To Conviction Buy

Read more
18 May 2016 08:31

BROKER RATINGS SUMMARY: Goldman Upgrades Booker, Panmure Cuts Meggitt

Read more
17 May 2016 09:40

WINNERS & LOSERS SUMMARY: Taylor Wimpey Pleases With Payout Plan

Read more
17 May 2016 07:56

Revenue jump boosts BTG full-year profits

(ShareCast News) - Healthcare company BTG more than doubled full year pre-tax profits to £57.5m on the back of a 22% jump in revenues to £447.5m. The company said expected revenue for fiscal 2017 to be in the range of £485m-£515m, with selling general and administrative costs to be £160m-£170m and r

Read more
17 May 2016 06:57

TOP NEWS: BTG Doubles Annual Profit On Significant Revenue Rise

Read more
10 May 2016 15:10

Earnings, Trading Statements Calendar - Week Ahead

Read more
6 May 2016 09:23

BTG buys Galil Medical for inital £58.3

(ShareCast News) - Specialist healthcare company BTG said it was buying Galil Medical, a leading provider of cryoablation products for the treatment and palliative care of kidney and other cancers, for an initial £58.3m. BTG said it would also pay up to £17.6m in future regulatory and commercial mil

Read more
6 May 2016 08:10

BTG Acquires US-Based Cryoablation Systems Maker Galil Medical

Read more
5 Apr 2016 07:41

BTG exudes confidence ahead of final reuslts

(ShareCast News) - Specialist healthcare company BTG was confident ahead of its final results on Tuesday, claiming reported group revenue for the year to 31 March was expected to be at the upper end of its guidance range of £410m-£440m, boosted by currency tailwinds. The growth at the FTSE 250 compa

Read more
5 Apr 2016 06:39

BTG Revenue To Hit Upper End Of Guidance Amid Solid Sales Growth

Read more
4 Apr 2016 05:23

BTG To Initiate Target Study To Evaluate Dosimetry For HCC Patients

Read more
5 Jan 2016 09:43

BROKER RATINGS SUMMARY: S&P CapIQ Cuts Next To Buy From Strong Buy

Read more
15 Dec 2015 17:05

LONDON MARKET CLOSE: Oil Recovers As US Inflation Supports Fed Hike

Read more
15 Dec 2015 15:24

FTSE 250 movers: Broker notes spur on big movers

(ShareCast News) - The FTSE 250 looks to finish the day in the green, with the second-tier market up 228.85 point (1.36%) to 17,001.42 mid-afternoon Tuesday. Circassia Pharmaceuticals rose to the top of the ranks after RBC Capital Markets initiated coverage at 'top pick' for the company. "With intr

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.