Greene King Share News (GNK)

LONDON (Alliance News) - Stock prices in London are seen opening slightly higher on Tuesday, amid optimism over trade talks between the US and China in their second day in Beijing.In UK corporate news, WM Morrison Supermarkets and Greene King both said they prospered during the recent festive period, while Safestore delivered strong annual results and a dividend hike. IG futures indicate the FTSE 100 index is to open up 4.52 points at 6,815.40. The blue chip index closed down 26.54 points, or 0.4%, at 6,810.88 on Monday.Deputy US Trade Representative Jeffrey Gerrish is leading the US team at the two-day meeting, with spokesman for China's Foreign Ministry predicting "positive and constructive discussions".Wm Morrison Supermarkets saw a good performance during the key Christmas trading period, which represented the fourth consecutive Christmas of sales growth for the grocer.For the 9 weeks to January 6, Morrison reported group like-for-like sales excluding fuel up 3.6%, with retail up 0.6% and wholesale up 3.0%. Like-for-like sales including fuel were 3.4% higher.A company-compiled consensus based on 11 analysts forecast Morrisons to have seen retail like-for-like sales up 0.5% and group like-for-like sales up 4.1% in the holiday period, meaning that the retailer fell slightly short of analysts' expectations.The run-up and aftermath of Christmas, a key trading period for all retailers, saw total sales increase by 4.0% excluding fuel and 3.8% including it.Brewer and pub operator Greene King reported sales growth in its financial year to date, boosted by a strong trading over the festive season with record Christmas day sales.For the 36 weeks to January 6, the FTSE 250 company reported like-for-like sales up 3.2%. Just in the two weeks covering Christmas and the New Year, Greene King said like-for-like sales were up 11%, with GBP7.7 million achieved just on Christmas day, a "record" according to the firm.Pub Partners like-for-like net profit was down 1.0% in the period, while total beer volumes in Brewing & Brands were up 1.8% and own-brewed volumes were down 2.3%.Greene King said it remains on track to dispose of 100 to 110 pubs during the financial year as part of a cost reduction programme. It plans to open nine new pubs in the same period. "While the ongoing uncertainty around Brexit may still have an impact on consumer confidence and spending during the year, we remain confident of our outlook for the financial year," the company said. Self-storage company Safestore Holdings said it enjoyed a strong financial performance with dividend growth and continued strategic progress.For the financial year ended October 31, pretax profit more than doubled to GBP185.3 million from GBP78.9 million last year. Revenue was up 11% to GBP143.9 million from GBP129.9 million the year before.Safestore raised its final dividend 14% to 11.15 pence from 9.8 pence last year. This gives a total payout for the year of 16.25 pence from 14.0 pence the year before - representing a 16% increase. "The strong performance of the final quarter of 2017/18 has continued into the new financial year with like-for-like group revenue up 6.4% for the two months to December 2018. Our strong market positions, operational platform and geographical diversity enables the group to look forward with confidence to the 2018/19 financial year," the company said. National Grid said it reached an agreement with two unions in Massachusetts. The UK power lines operator said the agreement is for a five and-a-half year contract for 1,250 employees in its Massachusetts Gas business.Footwear retailer Footasylum reported revenue growth across all its channels and major product ranges, despite challenging trading conditions.Total revenue in the 18 weeks to December 29 was up 14% to GBP102.3 million from GBP89.8 last year. The retailer said online sales were up 28% to GBP36.0 million now accounts for 33% of total revenue while revenue from stores were up 5% at GBP63.7 million, despite challenging UK high street trading conditions.However, the company said challenging trading conditions reported in the first half have continued throughout the Christmas trading period. Moreover, UK economic uncertainty and weakening consumer sentiment have led to "some of the most difficult trading conditions seen in recent years". "Against this market backdrop, promotional activity and discounting across the retail sector were higher than anticipated, with the result that Footasylum's levels of promotional and clearance activity were greater than expected during the period. Consequently, while the company has sustained its revenue growth across all channels, gross margin has been lower than previously expected for the period," the company said. Vodafone was double downgraded to Underperform from Outperform by RBC Capital, and Ryanair Holdings was cut to Sell from Hold by Berenberg. The Japanese Nikkei 225 index closed up 0.8%. In China, the Shanghai Composite closed down 0.3%, while the Hang Seng index in Hong Kong is up 0.2%.In the US on Monday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.4%, S&P 500 up 0.7% and Nasdaq Composite up 1.3%.The pound was marginally higher quoted at USD1.2765 against USD1.2755 at the London equities close Monday.In domestic political news, British and European officials are discussing the possibility of extending Article 50 due to fears that a Brexit deal may not be approved by March 29, The Daily Telegraph newspaper reported Tuesday, citing three EU sources.The newspaper, citing sources, reported that British officials had been "putting out feelers" and "testing the waters" on extending Article 50 - the UK's formal notice to withdraw from the European Union.Still to come, Kantar Worldpanel releases its UK grocery market survey covering the 12 weeks to December 30 at 0800 GMT.The economic events calendar on Tuesday has UK Halifax house prices at 0830 GMT and eurozone consumer confidence at 1000 GMT.