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London open: Greece and its creditors stake out their positions

Wed, 03rd Jun 2015 08:59

Stocks began the morning moving slightly lower as investors waited on a host of economic data and Greece and its creditors staked out their respective positions ahead of a meeting between both sides.As of 09:26 the Footsie was down by 0.04 points to reach 6,928.23.Greece's prime minister Alexis Tsipras and the head of the European Commission, Jean Claude Juncker, were set to meet later in the evening in an attempt to narrow the gap between the two sides.However, ahead of that meeting the head of the Eurogroup, Jeroen Dijsselbloem, said the country's creditors have no intention of meeting it halfway.The European Central Bank's governing council was due to meet later in the day. Shortly after the policy announcement, Draghi's press conference was set to be closely followed for word on how the quantitative easing (QE) programme has been progressing.The ECB's president was expected to reiterate his commitment to see the central bank's bond purchase programme out in full.Results from two service sector purchasing manager's indices from the UK and US were also set to be released.UK house prices increased by 4.6% year-on-year in May, slightly less than the 5.3% rise clocked in the prior month, according to Nationwide.Dixons, Royal Mail, InterserveAfter a strong fourth quarter Dixons Carphone said its full year profits are likely to reach the top end of market forecasts. Group like-for-like revenue in the last 17 weeks of the year to 2 May rose 9%, with further market share gains made across electricals and mobile in the UK & Ireland, the Nordics and Greece.Royal Mail announced that it has appointed Peter Long as non-executive director and chairman designate. Long, who is currently joint chief executive of TUI AG, will replace Donald Brydon, who announced in January that he would step down this year.Interserve's joint venture with China State Construction Engineering Corporation (CSCEC) has been selected as the preferred bidder to build the £550m One Nine Elms scheme in Battersea. The scheme, which is part of a wider development, includes the construction of two towers of 57 and 42 storeys and a 187-room five-star hotel.Broker JP Morgan Cazenove has lowered its estimates and price target on grocery giant Tesco following the latest grocery market share figures from Kantar Worldpanel. Analyst Borja Olcese lowered his target price on the firm's shares to 175p from 185p previously, while reiterating his recommendation to 'underweight'.Lloyds Banking Group was on Wednesday awaiting the judgement from the Chancery Division of the High Court of Justice on whether it can go ahead with the cancellation of the enhanced capital notes (ECNs).Market MoverstechMARK 3,299.85 -0.01%FTSE 100 6,923.79 -0.06%FTSE 250 18,281.02 +0.33%FTSE 100 - RisersCRH (CRH) 1,827.00p +1.95%Morrison (Wm) Supermarkets (MRW) 175.70p +1.86%Sainsbury (J) (SBRY) 248.90p +1.55%Unilever (ULVR) 2,868.00p +1.24%Direct Line Insurance Group (DLG) 342.70p +1.09%Imperial Tobacco Group (IMT) 3,241.00p +0.97%Sports Direct International (SPD) 677.50p +0.89%Tesco (TSCO) 209.25p +0.87%Wolseley (WOS) 4,135.00p +0.85%Royal Bank of Scotland Group (RBS) 347.60p +0.70%FTSE 100 - FallersBritish Land Company (BLND) 838.00p -1.64%National Grid (NG.) 908.20p -1.53%SSE (SSE) 1,620.00p -1.16%Mondi (MNDI) 1,422.00p -1.04%Vodafone Group (VOD) 252.20p -0.94%Land Securities Group (LAND) 1,282.00p -0.93%Pearson (PSON) 1,288.00p -0.92%Centrica (CNA) 272.10p -0.91%Coca-Cola HBC AG (CDI) (CCH) 1,405.00p -0.71%HSBC Holdings (HSBA) 620.60p -0.61%FTSE 250 - RisersIndivior (INDV) 242.00p +2.98%WH Smith (SMWH) 1,580.00p +2.73%Melrose Industries (MRO) 275.00p +2.69%Workspace Group (WKP) 942.50p +2.45%Berendsen (BRSN) 1,059.00p +2.32%Booker Group (BOK) 180.20p +2.15%Domino's Pizza Group (DOM) 834.00p +2.14%Lonmin (LMI) 144.00p +2.06%Aveva Group (AVV) 2,015.00p +2.03%Crest Nicholson Holdings (CRST) 547.50p +1.96%FTSE 250 - FallersMorgan Advanced Materials (MGAM) 341.30p -3.59%Spectris (SXS) 2,249.00p -3.14%Cranswick (CWK) 1,577.00p -1.87%Amec Foster Wheeler (AMFW) 902.00p -1.42%Brown (N.) Group (BWNG) 339.30p -1.05%Merlin Entertainments (MERL) 440.00p -0.97%Kaz Minerals (KAZ) 252.90p -0.94%Rank Group (RNK) 212.20p -0.84%Barr (A.G.) (BAG) 613.00p -0.81%Evraz (EVR) 167.50p -0.71%
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15 Dec 2020 16:50

Wednesday preview: US Federal Reserve, Dixons Carphone in focus

(Sharecast News) - The market spotlight will shift back towards the US in the middle of the week, Brexit talks with the European Union allowing.

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4 Aug 2020 12:01

Dixons Carphone plans 800 job cuts

(Sharecast News) - Dixons Carphone is planning to cut about 800 jobs by removing management roles in the latest round of reductions to hit the retail sector, according to reports.

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1 Feb 2017 15:33

Wednesday broker round-up

(ShareCast News) - SSE: Barclays reiterates overweight with a target price of 1695p. BP: HSBC reiterates buy, 590p target. Royal Dutch Shell B: Deutsche Bank reiterates buy with a 2450p target. Britvic: JP Morgan reiterates neutral with a 600p target. Intu: Deutsche Bank reiterates sell with a 2

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3 Jan 2017 10:54

Tuesday broker round-up

(ShareCast News) - BP: UBS reiterates buy with a target price of 550p. InterContinental Hotels Group: Barclays upgrades to overweight, 4000p target. Debenhams: Deutsche Bank downgrades to sell with a 5200p target. Amerisur: Barclays reiterates equal weight with a 36p target. Next: Deutsche Bank d

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7 Dec 2016 13:36

Wednesday broker round-up

(ShareCast News) - BHP Billition: HSBC reiterates hold with a target price of 1200p. Bunzl: Goldman Sachs reiterates neutral, 2200p target. Bellway: JP Morgan reiterates overweight with a 2950p target. Aviva: RBC reiterates outperform with a 500p target. IG: Barclays stays at overweight with a 95

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27 Sep 2016 13:05

Tuesday broker round-up

(ShareCast News) - Vodafone: HSBC reiterates buy with a target price of 280p. Melrose: UBS upgrades to buy, 200p target. Marks & Spencer: Deutsche Bank keeps at hold with a 350p target. Shire: Berenberg reiterates buy with a 5800p target. Next: Deutsche Bank keeps at buy with a 5950p target. Llo

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16 Jul 2015 09:42

London open: Sterling and Greenback jump versus euro

(ShareCast News) - Sterling was moving sharply higher versus the European single currency on Thursday morning, alongside the US dollar, as the market acknowledged the relatively greater scope for interest rate rises in both the UK and the US. That came ahead of a speech by Bank of England Governor M

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5 Mar 2015 11:44

Halfords set to announce former Monsoon boss as CEO

British auto and parts dealer Halfords could be set to appoint retail businessman John Browett as its new chief executive after he left fashion retailer Monsoon last month. According to an equity sales analyst in London, Browett, who has held executive management positions at leading retailers, is t

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17 Dec 2014 08:21

London open: UK stocks drop early on as investors await risk events

UK stocks dropped sharply on Wednesday morning as the sell-off resumed ahead of a busy session for global financial markets. The FTSE 100 was down 0.8% at 6,284 early on. The index had jumped 2.4% the previous session, snapping a six-day losing streak, as West Texas Intermediate crude futures rebou

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17 Dec 2014 07:38

London pre-open: Sell-off expected to continue ahead of busy session

The sell-off is expected to resume on Wednesday after a brief pause the previous session, with markets eyeing a number of key 'risk events' across the globe. City sources predict the FTSE 100 will open 53 points lower than Tuesday's close of 6,331.83. The index had jumped 2.4% the previous session,

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11 Dec 2014 16:21

FTSE 100 movers: Travel companies soar as miners sink

Travel companies Easyjet and International Consolidated Airlines Group were boosted by the fall in oil prices, on hopes that lower fuel costs will boost profitability. Dixons Carphone was also among the risers after it emerged earlier this week that it surpassed its Christmas store opening targets.

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4 Nov 2014 16:16

Former Phones 4U bosses could face investigation

One of America's biggest law firms is set to launch an investigation into the conduct of former Phones 4U directors. Quinn Emanuel Urquhart and Sullivan was appointed last week by PricewaterhouseCoopers (PwC), the firm's administrator, and will examine the actions of EE and Vodafone which decided ag

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10 Oct 2014 09:42

Friday broker round-up UPDATE

British American Tobacco: Goldman Sachs reduces target price from 3530p to 3250p downgrading to sell. Brown (N) Group: UBS cuts target price from 490p to 445p leaving its buy recommendation unchanged. Diageo: Goldman Sachs reduces target price from 2030p to 1925p and keeps a neutral rating. Dixons

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