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Pin to quick picksHarbour Energy Share News (HBR)

Share Price Information for Harbour Energy (HBR)

London Stock Exchange
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Share Price: 300.00
Bid: 299.60
Ask: 300.60
Change: -1.10 (-0.37%)
Spread: 1.00 (0.334%)
Open: 300.60
High: 310.50
Low: 299.50
Prev. Close: 301.10
HBR Live PriceLast checked at -

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LONDON MARKET MIDDAY: FTSE 100 flat ahead of Federal Reserve decision

Wed, 31st Jan 2024 12:05

(Alliance News) - The FTSE 100 in London was flat heading into Wednesday afternoon, as the US Federal Reserve's latest interest rate decision edges closer, keeping equity market enthusiasm to a minimum.

The FTSE 100 index was up 1.65 points at 7,667.96. The FTSE 250 was down 33.57 points, 0.2%, at 19,315.93, and the AIM All-Share was up 0.89 of a point, 0.1%, at 755.78.

The Cboe UK 100 was down slightly at 766.07, the Cboe UK 250 was down 0.2% at 16,782.20, though the Cboe Small Companies was up 0.1% at 14,752.63.

Stocks in New York are called to open mixed, as investors nervously await the Fed's decision later.

The Dow Jones Industrial Average was called up 0.1%, though the S&P 500 index was called down 0.6%, and the Nasdaq Composite down 1.3%. The Nasdaq is set for a tough open after poorly-received tech earnings overnight.

The US Fed will announce its latest interest rates at 1900 GMT on Wednesday. The US central bank is expected to leave rates unchanged. A press conference with Chair Jerome Powell follows half an hour later.

The key focus will be on the press conference and the outlook for interest rates.

According to the CME FedWatch Tool, there is a 46% chance the central bank lowers the federal funds rate range in March from the current 5.25% to 5.50%. A cut was once the most likely outcome for the March meeting, however.

AJ Bell's Russ Mould said: "Investors may be sitting on their hands as they await the latest decision from the Federal Reserve – a first interest rate cut hasn't been pegged any earlier than March so all the focus will be on the messaging which accompanies the announcement. The Fed may encourage the recent scaling back of rate cut expectations, and the extent to which it does could determine the path markets forge over the coming weeks."

It is the Bank of England's turn on Thursday. The interest rate decision will be announced at 1200 GMT. Alongside the decision, there will also be the BoE's latest monetary policy report, with economic projections, as well as a press conference with Governor Andrew Bailey half an hour later.

Like the Fed, the BoE is expected to keep rates unchanged and the focus will be on messages about future policy decisions.

Barclays analyst Jack Meaning said: "Ultimately, we expect the first cut in bank rate to happen in May, followed by consecutive cuts of 25 basis points per meeting until bank rate reaches 3.25% in March 2025."

The pound was quoted at USD1.2679 at midday on Wednesday in London, higher compared to USD1.2665 at the equities close on Tuesday. The euro stood at USD1.0838, unmoved against USD1.0839. Against the yen, the dollar was trading at JPY147.77, a touch lower compared to JPY147.80.

In the FTSE 100, housebuilders were trading higher. Taylor Wimpey added 1.0%, Barratt Developments rose 0.4% and Persimmon climbed 0.3%.

The Nationwide house price index showed a 0.7% increase in seasonally-adjusted UK house prices in January, after showing no change in December. According to FXStreet, market consensus was for the house price index to edge up just 0.1% on-month.

Andrew Wishart, economist at Capital Economics, commented: "While the cost of the mortgage needed to buy the average home remains high by historical standards, the rise in house prices at the start of the year shows that declines in mortgage rates have been sufficient for house prices to eke out further gains."

Elsewhere in the FTSE 100, GSK lost 1.0%.

The Brentford, West London-based pharmaceutical maker said pretax profit climbed 7.7% to GBP6.06 billion in 2023 from GBP5.63 billion a year prior. Revenue rose 3.4% to GBP30.33 billion in 2023 from GBP29.32 billion.

GSK declared a final dividend of 16.00 pence per share, up from 13.75p in the fourth quarter of 2022. However, this brings the total dividend to 58.00p, down 5.3% from a total payout of 61.25p in 2022.

In the FTSE 250, Harbour Energy lost 4.5%. Goldman Sachs cut the oil and gas company's stock to 'sell' from 'buy'.

Amongst London's small caps, Smiths News rose 3.2%.

The newspaper and magazine distributor said trading in the year ending August 31 remains in line with market expectations.

Smiths said it has secured contract renewals across 74% of its current publisher revenue streams to at least 2029, underpinning revenue in the medium-term, alongside continuing to secure additional national and regional contract awards.

On London's AIM, Pebble Beach Systems rose 29%.

The provider of content management software for broadcasters and video streaming services said its 2023 trading performance was ahead of market forecasts, with revenue up to GBP12.4 million from GBP11.2 million a year earlier.

The revenue generated by Pebble Beach includes recurring revenue of approximately GBP5.2 million, up 13% from GBP4.6 million.

In European equities on Wednesday, the CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was down 0.1%.

Brent oil was quoted at USD81.61 a barrel at midday in London on Wednesday, down from USD82.32 late Tuesday. Gold was quoted at USD2,038.01 an ounce, up against USD2,033.15.

Still to come on Wednesday's economic calendar, there is the US ADP jobs report out at 1315 GMT, followed by the US Chicago purchasing managers' index at 1445 GMT.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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9 May 2024 17:33

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*

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(Alliance News) - Stock prices in London closed higher on Thursday, with the FTSE 100 achieving another record high, supported by a Bank of England rate decision that had a doveish tilt.

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London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

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LONDON MARKET MIDDAY: Stocks climb as BoE holds but two back cut

(Alliance News) - The FTSE 100 was higher on Thursday afternoon, after the Bank of England maintained the benchmark UK interest rate at 5.25%, albeit with a vote split that encouraged rate cut expectations.

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9 May 2024 10:27

Harbour Energy makes significant progress to complete Wintershall deal

(Alliance News) - Harbour Energy PLC on Thursday said it was on track to complete the acquisition of Wintershall Dea in the fourth quarter after receiving further regulatory clearances.

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9 May 2024 09:46

Harbour Energy hikes FY dividend, 'on track' to complete Wintershall acquisition in Q4

(Sharecast News) - Oil and gas business Harbour Energy hiked its full-year dividend on Thursday as its transformational takeover of German rival Wintershall was "on track" to complete in Q4.

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9 May 2024 09:11

LONDON MARKET OPEN: Stocks muted pre-BoE interest rate decision

(Alliance News) - Stock prices in London opened muted on Thursday, ahead of the latest interest rate decision from the Bank of England.

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UK shareholder meetings calendar - next 7 days

Friday 3 May 
Ashoka India Equity Investment Trust PLCGM re share issue
HSBC Holdings PLCAGM
Intercontinental Hotels Group PLCAGM
Mondi PLCAGM
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Tuesday 7 May 
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CPPGroup PLCAGM
Just Group PLCAGM
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Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
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Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
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Public Policy Holding Co IncAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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UK earnings, trading statements calendar - next 7 days

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JD Wetherspoon PLCTrading Statement
Light Science Technologies Holdings PLCFull Year Results
OSB Group PLCTrading Statement
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Derwent London PLCTrading Statement
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Harbour Energy PLCTrading Statement
IMI PLCTrading Statement
ITV PLCTrading Statement
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
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London close: Stocks follow Wall Street into the red

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24 Apr 2024 15:29

Wintershall Dea management board to step down after Harbour Energy deal closed

BERLIN, April 24 (Reuters) - Wintershall Dea said on Wednesday that the current management board will step down after the transfer of its non-Russian oil and gas assets to Britain's Harbour Energy.

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24 Apr 2024 15:22

Wintershall Dea management board to step down after Harbour Energy deal closed

BERLIN, April 24 (Reuters) - Wintershall Dea said on Wednesday that the current management board will step down after the transfer of its non-Russian oil and gas assets to Britain's Harbour Energy.

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LONDON BROKER RATINGS: HSBC likes Haleon, cuts Flutter to 'hold'

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UK dividends calendar - next 7 days

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Titon Holdings PLCdividend payment date
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Wilmington PLCdividend payment date
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Athelney Trust PLCdividend payment date
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Balanced Commercial Property Trust Ltdex-dividend payment date
Barratt Developments PLCex-dividend payment date
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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
13 Mar 2024 13:56

Berenberg ups Harbour Energy to 'buy', says cash flow supports higher returns

(Sharecast News) - Berenberg upgraded Harbour Energy on Wednesday to 'buy' from 'hold' and lifted the price target to 360p from 280p as it said that cash flow supports higher returns.

Read more

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