Earthport Share News (EPO)

LONDON (Alliance News) - Equities prices in London are seen opening slightly higher Friday, despite a stronger pound set to hinder overseas-exposed FTSE 100 stocks. In early corporate news, Vodafone has reaffirmed its full-year guidance while Fuller, Smith, & Turner has sold its entire beer business and Earthport has agreed an increased offer from Mastercard. IG futures indicate the FTSE 100 index is to open 3.2 points higher at 6,822.15. The blue chip index closed down 23.93 points, or 0.4%, at 6,818.95 on Thursday. "European markets are taking the lead from Asia with futures pointing to a higher start after the opening bell," said London Capital Group's Jasper Lawler."Higher oil prices owing to the political crisis in Venezuela will offer some support to the FTSE, whilst a stronger pound means the UK index will be lagging behind its European counterparts."In Asia on Friday, the Japanese Nikkei 225 index closed up 1.0%. In China, the Shanghai Composite closed up 0.4%, while the Hang Seng index in Hong Kong is 1.4% higher. The pound was quoted at USD1.3116 early Friday, up from USD1.1.3034 at close on Thursday, while Brent oil was quoted at USD61.61 a barrel, higher than USD61.08 late Thursday.Venezuela's President Nicolas Maduro on Wednesday announced Caracas was breaking off diplomatic relations with Washington after US President Donald Trump's government recognized National Assembly speaker Juan Guaido as Venezuela's interim president.In the US on Thursday, Wall Street closed higher, with the Dow Jones Industrial Average ending down 0.1%, but the S&P 500 up 0.1% and the Nasdaq Composite up 0.7%.Turning to the London Stock Exchange, Vodafone reiterated its annual guidance, as the telecommunications firm reported a fall in revenue for its third quarter.For the three months to December 31, Vodafone's revenue was EUR11.00 billion, down 6.8% on a reported basis year-on-year.This figure was hindered by accounting changes, the sale of Vodafone's stake in its Qatari business, and foreign exchange.In the third quarter, organic service revenue rose 0.1% year-on-year, slowing from 0.5% annual growth in the second quarter. Using Vodafone's previous accounting method, growth actually improved to 0.4% from 0.3% in the prior quarter.On a reported basis, Vodafone's service revenue fell to 3.9% to EUR9.79 billion."We have executed at pace this quarter and have improved the consistency of our commercial performance," said Chief Executive Nick Read."Lower mobile contract churn across our markets and improved customer trends in Italy and Spain are encouraging, however these have not yet translated into our financial results, with a similar revenue trend in Europe to the second quarter.""We enjoyed good growth across our emerging markets with the exception of South Africa, which was impacted by our pricing transformation initiatives and a challenging macroeconomic environment. Overall, this performance underpins our confidence in our full year guidance," he added.In the FTSE 250, Irn Bru-maker AG Barr reported "continued positive trading" in its year ending Saturday, with revenue guided to be 5% up year-on-year at around GBP277 million. Core brands did well, AG Barr said, with further UK market share gains made in soft drinks. Value growth has "significantly" outstripped volume growth in the period due to the UK government's soft drinks levy, and AG Barr expects to return to a more value-led strategy in 2019. Looking ahead, AG Barr is confident despite Brexit uncertainty and likely further regulatory intervention in the soft drinks industry in the UK. Indivior has secured a restraining order in the US, preventing Alvogen Pine Brook from launching its generic buprenorphine and naloxone film product in competition with Indivior's.We are pleased the District of New Jersey has granted Indivior's motion for a temporary restraining order," said Shaun Thaxter, chief executive of Indivior. "We will continue to vigorously pursue our infringement cases against Alvogen to protect our Suboxone (buprenorphine and naloxone) sublingual film patent portfolio, including continuing to pursue the appeal of the US District Court for the District of Delaware's non-infringement decision related to US patents 8,603,514, as well as litigating our recently listed Orange Book patents for Suboxone film."Elsewhere, miner Lonmin said an appeal against its takeover by Sibanye Gold by the Association of Mineworkers & Construction Union will be heard on April 2 in South Africa.The two "remain fully committed to the offer", Lonmin said. West London brewer and pub operator Fuller, Smith & Turner announced it has sold its beer business to Japan's Asahi Group for an enterprise value of GBP250 million.The business includes all beer, cider, and soft drink production, wine wholesaling, as well as all distribution.Fuller's expects net cash from the sale of GBP205M, and it will return between GBP55 million and GBP69 million of this to shareholders via dividends, which will not affect its existing dividend plan. Meanwhile, Fuller's said trading as been "very strong", with like-for-like sales in Managed Pubs & Hotels rising 5.6% year-on-year in the 10 weeks to January 19 and 4.7% in the 42 weeks to the same date.Earthport has received an increased offer from Mastercard, and has agreed a 33 pence per share deal. Previously, Mastercard had offered 30p per share. The new agreement values Earthport at GBP233 million, and Earthport's board has recommended shareholders accept the offer. Retailer Bonmarche said trading for the three weeks to December 29, the key Christmas period, was in line with revised expectations. On December 13, the firm had warned on profit, saying trading conditions were "significantly worse" than during the recession of 2008 and 2009.Total sales for the 13 weeks to December 29 fell 8.1% year-on-year, while like-for-like sales fell 7.8%. Store-only like-for-like sales fell 11%, but online sales rose 22%.For the 39 weeks to December, total sales are down 2.7%, with like-for-likes down 3.3%. Store-only like-for-like sales fell 6.4% and online rose 27%. A quiet economic calendar Friday will see the World Economic Forum in Davos come to a close. US data releases are being postponed due to the US government shut-down. The US Senate was unable Thursday to reach agreement on ending the partial shutdown of the federal government, now in its 34th day, after two rival bills each failed to gain enough votes to advance.The shutdown has led to some 800,000 federal workers not being paid, while key agencies like law enforcement and air traffic control say they are struggling to carry out their duties. More agencies will run out of funding as time passes.One bill, sponsored by President Donald Trump's centre-right Republicans, included some protections for certain immigrants and USD5.7 billion in funding for a border wall on the frontier with Mexico.