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London midday: Markets up but gains limited ahead of election

Tue, 05th May 2015 11:37

Stocks started the shortened trading week positively on Tuesday, taking their cue from gains in Europe and the US the previous day.After being closed on Monday for the bank holiday, the FTSE 100 was up 0.38% at 7,012.52 by midday, rising for the third straight session.However, falls from HSBC, miners and heightened political uncertainty in the UK election meant limited upside for London's stocks.That political uncertainty was being felt in the UK construction sector which slowed sharply in April, according to data from Markit and CIPS. The construction purchasing managers' index fell to a 22-month low of 54.2 from 57.8 in March, sending sterling lower in morning trade."Financial markets are very fickle, and without a clear answer to whom will be in Downing Street come Friday, dealers are giving sterling a wide berth," said IG analyst David Madden.Trade balance data and the ISM non-manufacturing PMI will also be due for release in the States on Tuesday afternoon.Mining stocks fall, banks mixedMiners were under the weather after Reserve Bank of Australia surprised with a 25 basis-point cut in interest rates to another record low of 2%. This was the second cut this year, sending shares in BHP Billiton and Rio Tinto lower.Spreadex analyst Connor Campbell said miners are "in somewhat of a slump this morning after the Australian central bank squashed interest rates to their lowest ever level in order to combat the country's post-mining boom headache".Glencore also declined after reporting a 9% drop in copper output in the first quarter, while Anglo American was pressured lower by a downgrade from RBC Capital Markets to 'underperform'.Lloyds and RBS were performing well after broker upgrades. Jefferies raised Lloyds to 'buy', saying that the earnings downgrade cycle has troughed for the bank, while Nomura lifted RBS to 'neutral' following the stock's recent underperformance.HSBC however underwhelmed with its first-quarter results despite profits coming in ahead of expectations. Reported pre-tax profit was up 4% year-on-year at $7.1bn and more than a fifth higher than City forecasts.Asset manager Aberdeen also disappointed with a 25% profit jump in the second quarter as it reported a £11.3bn outflow of net new business.Pub group Greene King rose after reporting a 0.4% increase in retail like-for-like sales and total sales growth of 6.3% for its just-completed full year. Market MoverstechMARK 3,211.32 +0.58%FTSE 100 7,012.52 +0.38%FTSE 250 17,568.20 +0.57%FTSE 100 - RisersTUI AG Reg Shs (DI) (TUI) 1,242.00p +3.50%Coca-Cola HBC AG (CDI) (CCH) 1,418.00p +3.05%Fresnillo (FRES) 730.50p +2.60%Burberry Group (BRBY) 1,764.00p +2.32%Smiths Group (SMIN) 1,160.00p +2.29%Dixons Carphone (DC.) 426.70p +2.06%ARM Holdings (ARM) 1,141.00p +2.06%Prudential (PRU) 1,644.50p +2.02%Sage Group (SGE) 497.70p +1.78%Intertek Group (ITRK) 2,670.00p +1.68%FTSE 100 - FallersAshtead Group (AHT) 1,121.00p -2.27%HSBC Holdings (HSBA) 632.80p -2.09%RSA Insurance Group (RSA) 418.00p -1.67%Aberdeen Asset Management (ADN) 456.00p -1.53%Shire Plc (SHP) 5,290.00p -1.21%Persimmon (PSN) 1,671.00p -1.18%Anglo American (AAL) 1,154.00p -0.94%Glencore (GLEN) 309.70p -0.94%Taylor Wimpey (TW.) 164.00p -0.91%Carnival (CCL) 2,982.00p -0.86%FTSE 250 - RisersLonmin (LMI) 150.50p +4.01%Just Eat (JE.) 471.70p +3.44%Close Brothers Group (CBG) 1,575.00p +3.28%Genus (GNS) 1,409.00p +3.22%Hunting (HTG) 598.00p +3.10%Rentokil Initial (RTO) 140.50p +2.93%IP Group (IPO) 210.80p +2.78%Indivior (INDV) 208.60p +2.71%AL Noor Hospitals Group (ANH) 890.50p +2.36%Enterprise Inns (ETI) 120.60p +2.29%FTSE 250 - FallersCOLT Group SA (COLT) 147.00p -2.00%Spire Healthcare Group (SPI) 320.20p -1.96%Hiscox Limited (CDI) (HSX) 811.50p -1.70%Fidelity China Special Situations (FCSS) 166.20p -1.66%NMC Health (NMC) 755.50p -1.50%Restaurant Group (RTN) 675.00p -1.46%Rathbone Brothers (RAT) 2,115.00p -1.35%Howden Joinery Group (HWDN) 464.20p -1.34%Imagination Technologies Group (IMG) 194.20p -1.22%Cranswick (CWK) 1,418.00p -1.18%
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26 Apr 2021 15:20

Pubs and restaurants trade solidly post-lockdown - survey

(Sharecast News) - Britain's pubs and restaurants made a solid start to post-lockdown trading in England after they were allowed to serve customers outdoors, a survey indicated.

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3 Jan 2021 21:22

Sunday newspaper round-up: Restrictions, Brexit deal, Tax

(Sharecast News) - Sir Keir Starmer has urged Boris Johnson to bring in new national Covid restrictions within the next 24 hours. The Labour leader said the virus was "clearly out of control", as he insisted that it was "no good the Prime Minister hinting that further restrictions are coming into place in a week, or two or three. That delay has been the source of so many problems," he said. "So, I say bring in those restrictions now, national restrictions, within the next 24 hours." - Sunday Telegraph

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7 Oct 2020 14:08

Greene King to axe 800 jobs, close 79 pubs & restaurants

(Sharecast News) - Pub operator Greene King said it was cutting up to 800 jobs and closing 79 pubs and restaurants, blaming the government's new Covid-19 curfew and impending end of the job furlough scheme.

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6 Apr 2020 13:03

Pubs regulator to probe companies on Covid-19 help for tenants

(Sharecast News) - The pub industry regulator said it had written to all companies under its jurisdiction asking why they have not waived rent for tenants and demanded to know what support they are providing during the coronavirus crisis.

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17 Oct 2019 13:09

EU clears Greene King acquisition

(Sharecast News) - Greene King said on Thursday that the European Commission has cleared its £2.7bn takeover by Hong Kong's CK Asset Holdings.

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17 Oct 2019 12:29

Greene King Acquisition By CK Asset Gains European Commission Approval

Greene King Acquisition By CK Asset Gains European Commission Approval

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9 Oct 2019 12:06

CK Asset Holdings shareholders back Greene King takeover

(Sharecast News) - Shareholders of Hong Kong's CK Asset Holdings have approved its £2.7bn takeover of London-listed pub chain Greene King.

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9 Oct 2019 09:30

BROKER RATINGS SUMMARY: Morgan Stanley Cuts HSBC; Investec Raises RBS

BROKER RATINGS SUMMARY: Morgan Stanley Cuts HSBC; Investec Raises RBS

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2 Oct 2019 16:07

UK Shareholder Meetings Calendar - Next 7 Days

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27 Sep 2019 18:18

Capital Group Cuts Whilst JPMorgan Builds Greene King Stake

Capital Group Cuts Whilst JPMorgan Builds Greene King Stake

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18 Sep 2019 12:06

Li Family Declares Support For Greene King's GBP4.6 Billion Takeover

(Alliance News) - Pub firm Greene King PLC on Wednesday said the Li family, a major shareholder, is to vote in favour of the firm's acquisition.The Li family trusts own just over 31% of

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13 Sep 2019 07:53

UPDATE 3-Pink gin with strawberries: Wetherspoon patrons defy Brexit gloom

* Sales of coffee, real ale and gin boost results* J D Wetherspoon keeps drink prices low* Costs remain high (Adds further CEO quotes)By Noor Zainab Hussain and Paul SandleLONDON, Sept 13 (Reuters) - J D Wetherspoon's eurosceptic boss said customer...

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13 Sep 2019 07:53

UPDATE 2-Pink gin with strawberries: Wetherspoon patrons defy Brexit gloom

* Sale of coffee, real ale and gin boost results* J D Wetherspoon keeps drink prices low* Costs remain high (Adds chairman, analyst comments)By Noor Zainab HussainSept 13 (Reuters) - J D Wetherspoon's pretax profit rose in the full year as its "che...

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12 Sep 2019 08:49

RPT-Foreign trophy hunters scent bargains in Britain as pound weakens

(Repeats with no changes to text)* HKEX's offer for LSE latest in rush of inbound UK M&A* Foreign firms taking advantage of weakened pound* Analysts expect more M&A before Brexit deadline* 532 inbound deals in 2018, 2-1/2 times more than 2017By Josep...

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11 Sep 2019 17:10

Foreign trophy hunters scent bargains in Britain as pound weakens

* HKEX's offer for LSE latest in rush of inbound UK M&A* Foreign firms taking advantage of weakened pound* Analysts expect more M&A before Brexit deadline* 532 inbound deals in 2018, 2-1/2 times more than 2017By Josephine Mason, Thyagaraju Adinarayan...

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