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London midday: Markets in positive mood ahead of US jobs data

Fri, 04th Apr 2014 11:33

- Expectations high for US non-farm payrolls- 200k increase expected in March, jobless rate seen lower- easyJet traffic grows, RBS appoints new CFO- Retailers fall, including Tesco and M&StechMARK 2,774.68 +0.14%FTSE 100 6,678.29 +0.44%FTSE 250 16,414.01 +0.40%UK stock markets were putting in a decent performance on Friday with the FTSE 100 nearing a three-and-a-half week high as investors adopted a bullish mood ahead of the all-important US non-farm payrolls report due out this afternoon.The FTSE 100 was trading 0.4% higher at 6,678 by midday; it has not closed above this level since March 11th when it finished at 6,685.52.Following the positive ADP report on Wednesday, which showed that private hiring increased by 191,000 last month, expectations are high for a strong 'official' figure today as the adverse impact from severe winter weather seen in recent months eases.Ahead of the Bureau for Labor Statistics data due out at 13:30, consensus forecasts were for a 200,000 increase in payrolls in March, up from 175,000 the month before, while the unemployment rate is expected to have fallen to 6.6% from 6.7%.Market Analyst Craig Erlam from Alpari said that the positive moves on markets this morning was "unusual", as traders are normally fairly risk-averse before the jobs report each month."The number of jobs added in December, January and February appeared to be hit heavily by the unusually poor weather in the US and the expectation now is that the loss of job creation in those months will be carried over to the next few month, particularly March," he said.easyJet traffic grows, RBS appoints new CFOeasyJet was flying higher this morning after saying the number of passengers in March rose by 4.8% to 5,107,676 compared to a year earlier. The load factor, the number of passengers to the number of seats available, increased to 91.5% from 90.5% the same month in 2013. Royal Bank of Scotland rose after hiring long-running Credit Suisse banker, Ewen Stevenson, as its new Chief Finance Officer (CFO) following the resignation of Nathan Bostock in December. Shore Capital Analyst Gary Greenwood said the appointment "removes uncertainty" at the bank and "should therefore enhance investor confidence in the company's ability to deliver on its strategic plan".Oil, gas and mining engineer Kentz Corporation, however, fell after revealing that its CFO, Ed Power, is to step down on reaching his normal retirement age this May.Supermarket group Tesco was trading lower on speculation that its Finance Chief Laurie McIlwee could quit in the coming days amid falling profits and a recent decline in market share. McIlwee has worked for Tesco for 15 years.Department store Marks & Spencer was also in the red after Goldman Sachs warned of margin pressures, saying that the business is not immune to the increasing competition in the UK grocery market. In a report last night, the bank added M&S to its 'Conviction Sell List' and slashed its target price from 420p to 340p.Other retailers such as Kingfisher, WM Morrison, SuperGroup and Dixons Retail were also lower despite research from Deloitte saying that the High Street has showed "great resilience" since the financial crisis.Telecoms group Vodafone was hit with a downgrade by Nomura to 'neutral' and a target price cut from 255p to 240p. Meanwhile, Pearson was higher after Jefferies upgraded the publisher to 'buy' and raised its target from 1,128p to 1,184p.FTSE 100 - RisersRSA Insurance Group (RSA) 94.35p +3.68%Mondi (MNDI) 1,079.00p +2.37%easyJet (EZJ) 1,829.00p +2.12%Pearson (PSON) 1,029.00p +2.08%Aviva (AV.) 498.30p +1.90%G4S (GFS) 248.60p +1.80%Resolution Ltd. (RSL) 294.20p +1.80%Fresnillo (FRES) 885.00p +1.67%Aberdeen Asset Management (ADN) 440.20p +1.55%Carnival (CCL) 2,387.00p +1.36%FTSE 100 - FallersKingfisher (KGF) 438.90p -1.19%Intertek Group (ITRK) 2,974.00p -0.87%Tesco (TSCO) 289.35p -0.81%ARM Holdings (ARM) 1,018.00p -0.78%Johnson Matthey (JMAT) 3,271.00p -0.73%Vodafone Group (VOD) 217.95p -0.55%Travis Perkins (TPK) 1,883.00p -0.53%Barratt Developments (BDEV) 414.30p -0.53%Morrison (Wm) Supermarkets (MRW) 206.00p -0.48%AstraZeneca (AZN) 3,899.50p -0.46%FTSE 250 - RisersPerform Group (PER) 259.80p +5.18%Man Group (EMG) 106.90p +4.91%Oxford Instruments (OXIG) 1,412.00p +4.83%Fidessa Group (FDSA) 2,641.00p +2.84%Premier Oil (PMO) 305.70p +2.69%Evraz (EVR) 77.90p +2.50%Alent (ALNT) 321.80p +2.48%Phoenix Group Holdings (DI) (PHNX) 654.50p +2.43%Vesuvius (VSVS) 456.80p +2.33%Ted Baker (TED) 2,181.00p +2.15%FTSE 250 - FallersSupergroup (SGP) 1,596.00p -3.33%Imagination Technologies Group (IMG) 216.20p -2.44%FirstGroup (FGP) 131.50p -2.23%CSR (CSR) 695.50p -2.04%Big Yellow Group (BYG) 542.50p -1.99%Savills (SVS) 659.00p -1.86%Booker Group (BOK) 158.70p -1.67%Ocado Group (OCDO) 453.30p -1.48%Dixons Retail (DXNS) 49.70p -1.29%Provident Financial (PFG) 1,902.00p -1.25%BC
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19 May 2014 07:36

UK MORNING BRIEFING: AstraZeneca Depresses FTSE 100 On Bid Rejection

LONDON (Alliance News) - UK shares have opened starkly mixed Monday, with the FTSE 100 dragged down by AstraZeneca, while the mid-cap FTSE 250 is higher.

AstraZeneca, down 13% at the open, rejected a final GBP69 billion takeover proposal from Pfizer Inc, potentially

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19 May 2014 07:16

Dixons Retail To Sell ElectroWorld Business In Central Europe

LONDON (Alliance News) - Dixons Retail PLC, the electronics retailer which agreed to merge with mobile phone retailer Carphone Warehouse Group PLC last week, said Monday that it is selling off its ElectroWorld business in central Europe. The group said it is selling the loss-making business

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19 May 2014 07:06

Dixons Retail to dispose of ElectroWorld

FTSE 250-listed Dixons Retail has signed a deal to sell its ElectroWorld operations in Central Europe to NAY, a regional electrical specialist. The Currys and PC World-owner expects to receive a small deferred cash consideration spread over three years. Electroworld operates 26 specialist electr

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19 May 2014 06:35

UK's Dixons to sell central European operations

LONDON, May 19 (Reuters) - Dixons Retail, Europe's No. 2 electricals retailer which last week said it planned to merge with Carphone Warehouse, has agreed to sell its ElectroWorld operations in Central Europe to local specialist NAY a.s.. Electroworld operates 26 specialist electrical retai

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16 May 2014 16:15

MARKET COMMENT: UK Stocks Close Mixed, FTSE 250 Extends Losses

LONDON (Alliance News) - UK stocks closed mixed Friday, with the FTSE 100 outperforming its smaller index peers, but the FTSE 250 fell sharply for a second consecutive session, and a third in total, after another busy day of reporting by its constituents.

The mid-cap index had its w

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16 May 2014 12:16

CORRECT: Carphone, Virgin In Talks To Sell French Joint Venture

(An item published at 0809 GMT gave incorrect details of the potential sale. The correct version follows.) LONDON (Alliance News) - Carphone Warehouse Group PLC Friday said that it has entered exclusive talks to sell its joint venture with Virgin Media Inc, Virgin Mobile France, to Numerica

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16 May 2014 09:46

MARKET COMMENT: FTSE 250 Tumbles As Risk Aversion Continues

LONDON (Alliance News) - UK stocks trade lower Friday, with a notable divergence continuing between the UK's leading index, the FTSE 100, and its mid-cap peer, the FTSE 250. A lack of new top-tier economic data and a quieter corporate calendar Friday leaves little to shift the sentiment fro

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16 May 2014 08:46

London open: Stocks steady ahead of further data on US housing

- Footsie steady in early trading - US and allies warn Russia of possible further sanctions - More US housing data due out techMARK 2,761.98 +0.15% FTSE 100 6,843.95 +0.04% FTSE 250 15,655.31 +0.25% Equities were slightly higher early on following yesterday's sharp falls worldwide in reaction to w

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16 May 2014 07:09

Carphone Sells Virgin France Stake To Numericable For EUR325 Million

LONDON (Alliance News) - Carphone Warehouse Group PLC Friday said it has agreed to sell its 46% share in joint venture Virgin Mobile France to Numericable Group SA for EUR325 Million, following the announcement of its merger with fellow FTSE 250-constituent Dixons Retail PLC Thursday. Numer

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15 May 2014 16:59

London close: European and US concerns weigh on Footsie

- FTSE closes down 37.60 points at 6,840.89 - Eurozone GDP misses expectations, Italy, France disappoint - Russia says oil must be paid for - Telecoms, airlines fall techMARK 2,757.75 -1.26% FTSE 100 6,840.89 -0.55% FTSE 250 15,616.54 -2.24% The City ended today's session on a downbeat note, weigh

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15 May 2014 16:17

MARKET COMMENT: Stocks Retreat Amid Poor EU Data And UK Merger Concerns

LONDON (Alliance News) - Global stock indices lost ground Thursday amid a raft of disappointing eurozone economic data and concern over some disappointing company updates, with the FTSE 250 mid-cap index suffering its heaviest loss in more than six months, losing more than 350 points, as inves

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15 May 2014 14:58

FTSE 250 movers: Infinis lifted by broker rating

Infinis rose strongly after Deutsche Bank upgraded the stock to 'buy' with a target price of 220p. The share price of Kier also rose after the construction, services and property group was named as a preferred bidder on two new long-term Anglian Water contracts and gave a positive update on third-q

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15 May 2014 14:05

UPDATE 3-UK's Dixons and Carphone agree $6 bln retail merger

* Companies see merger benefits worth 80 mln stg * Dixons CEO Seb James to be CEO of combined company * Dixons expects FY profit of 150-160 mln stg (Adds quotes, details) By James Davey and Neil Maidment LONDON, May 15 (Reuters) - Britain's Carphone Warehouse and Dixons

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15 May 2014 13:44

2ND UPDATE: Dixons Retail, Carphone Warehouse Form Electronics Giant

LONDON (Alliance News) - Electronics retailer Dixons Retail PLC and mobile phone retailer Carphone Warehouse Group PLC Thursday said they have agreed to merge in a GBP3.6 billion deal that will create the UK's biggest retailer of mobile phones and electrical goods. The companies said the ai

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15 May 2014 13:01

Broker tips: LSE, Aviva, Vodafone...

Numis Securities has upgraded bourses operator London Stock Exchange from 'hold' to 'add' after the company identified more cost savings from its recent acquisition of LCH.Clearnet. "The strategic development of the LSE continues and we believe the LSE is well placed to take advantage of the global

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