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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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19 Jun 2014 09:48

UPDATE 1-Darty shares up after earnings top forecasts

* FY op profit up 11.2 pct to 73.4 mln euros * Adj. pretax 60 mln euros vs f'cast 55 mln * Shares up 3 pct (Adds details, CEO comments to Reuters, share reaction, analyst) By Dominique Vidalon and Pascale Denis PARIS, June 19 (Reuters) - Darty Plc, Europe's No. 3 electri

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17 Jun 2014 13:16

UPDATE 1-EU regulators to okay $6.4 bln Dixons, Carphone merger - sources

(Adds European Commission decline comment) By Foo Yun Chee BRUSSELS, June 17 (Reuters) - Britain's Carphone Warehouse and Dixons Retail will secure unconditional European Union antitrust approval for their 3.8-billion-pound ($6.38 billion) merger, two people familiar with the matter

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17 Jun 2014 12:57

EU regulators to okay $6.4 bln Dixons, Carphone merger - sources

BRUSSELS, June 17 (Reuters) - EU antitrust regulators will clear the 3.8-billion-pound ($6.38 billion) merger of British mobile phone retailer Carphone Warehouse and electrical chain Dixons Retail without conditions, two people familiar with the matter said on Tuesday. Carphone, Europe's bi

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10 Jun 2014 15:41

Morgan Stanley screens say sell CRH, JD Wetherspoon and many others

Morgan Stanley has put out a note compiling a list of stocks that its stock screens suggested were worthy of selling, including building materials group CRH and pub operator JD Wetherspoon. The note, entitled 'Stock screens suggest selling small caps', contains the latest in the broker's regular s

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10 Jun 2014 08:29

Tuesday tips round-up: Man Group, Dixons Carphone

Analysts like hedge-fund manager Man Group´s drive to diversify away from its flagship AHL fund - the core of the new managemeant team´s strategy. The best example of this better balance are the successful negotiations with regulators so as to be better able to employ the group´s cash reserves now t

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9 Jun 2014 16:05

MARKET COMMENT: UK Stocks Close Mixed; Lloyds, Babcock Down

LONDON (Alliance News) - The FTSE 100 ended slightly higher Monday, while its mid-cap peer index lost ground, in a subdued session that had little in the way of economic or major corporate news to drive it.

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9 Jun 2014 11:21

UK MIDDAY BRIEFING: Lloyds Prices TSB IPO Below Book Value

LONDON (Alliance News) - Lloyds Banking Group Monday set the price range of the initial public offering of TSB Banking Group PLC on the London Stock Exchange at between 220 pence to 290 pence per share, which would value the spun-off retail bank at about GBP1.28 billion at the

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9 Jun 2014 10:41

TOP NEWS: Lloyds Price TSB IPO Below Book Value

LONDON (Alliance News) - The following is a summary of top news stories Monday.
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COMPANIES
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Lloyds Banking Group set the price range of the initial public offering of TSB Banking Group PLC on the London Stock Exchange at between 220 penc

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