Less Ads, More Data, More Tools Register for FREE

Pin to quick picks3i Group Share News (III)

Share Price Information for 3i Group (III)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 3,040.00
Bid: 3,039.00
Ask: 3,041.00
Change: 10.00 (0.33%)
Spread: 2.00 (0.066%)
Open: 3,027.00
High: 3,051.00
Low: 2,997.00
Prev. Close: 3,030.00
III Live PriceLast checked at -
3i Group is an Investment Trust

To provide its shareholders with quoted access to private equity and infrastructure returns, its main focus is on making quoted and unquoted equity and/ or debt investments in businesses and funds in Europe, Asia and the Americas.

Find out More

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON BRIEFING: Stocks called up ahead of BoE interest rate decision

Thu, 09th May 2024 08:00

(Alliance News) - Stocks in London are set to open up on Thursday, ahead of the latest interest rate decision from the Bank of England.

The BoE is expected to leave the benchmark bank rate unchanged again on Thursday, but focus will be on whether the central bank lays the groundwork for a June cut.

The central bank announces its latest rate decision at 1200 BST, alongside the monetary policy report of economic projections. A press conference with Governor Andrew Bailey follows at 1230 BST.

The BoE's 25 basis points hike in August meant it has lifted rates by 5.15% during the current hiking cycle. Threadneedle Street has left rates unmoved in each of the five meetings since, however.

In early corporate news, 3i's net asset value grew but profit fell, while BAE Systems said trading in 2024 so far has been in line with expectations and left its full-year guidance unchanged.

Here is what you need to know at the London market open:

----------

MARKETS

----------

FTSE 100: called up 0.3% at 8,381.35

----------

Hang Seng: up 1.1% at 18,515.92

Nikkei 225: closed down 0.3% at 38,073.98

S&P/ASX 200: closed down 1.1% at 7,721.60

----------

DJIA: closed up 172.13 points, 0.4%, at 39,056.39

S&P 500: closed little changed at 5,187.67

Nasdaq Composite: closed down 29.80 points, 0.2%, at 16,302.76

----------

EUR: down at USD1.0739 (USD1.0749)

GBP: down at USD1.2479 (USD1.2495)

USD: up at JPY155.73 (JPY155.55)

Gold: up at USD2,314.14 per ounce (USD2,317.69)

(Brent): up at USD83.83 a barrel (USD83.48)

(changes since previous London equities close)

----------

ECONOMICS

----------

Thursday's key economic events still to come:

12:00 BST South Africa manufacturing production

12:00 BST UK interest rate decision

17:15 BST UK Bank of England Chief Economist Huw Pill speaks

13:15 BST eurozone ECB Vice-President Luis de Guindos speaks

13:30 BST US initial jobless claims

15:30 BST US EIA natural gas storage

----------

UK Foreign Secretary David Cameron will on Thursday urge Nato partners to soon start spending 2.5% of GDP on defence, during a major speech in which he will call for a more muscular approach to Western foreign policy. Cameron – a former UK prime minister – will say that countries need to take more assertive action to protect their interests from emerging threats, including from Russia and Iran. "We are in a battle of wills. We all must prove our adversaries wrong –- Britain, and our allies and partners around the world," Cameron will say, according to excerpts released by the foreign ministry.

----------

New UK home buyer inquiries fell back in April following three months of increases in a row, according to surveyors. The Royal Institution of Chartered Surveyors said its latest survey of property professionals suggests that a recent recovery in buyer demand has mellowed slightly, with the market seeming to have been impacted by mortgage rates edging up over the past few weeks. A net balance of 1% of property professionals reported new buyer inquiries falling rather than rising in April, following a balance of 6% reporting inquiries rising in March. The regional feedback on buyer demand is mixed, with a notable loss of momentum mainly seen in London and southern parts of England, Rics said.

----------

Chinese exports returned to growth last month while imports smashed expectations, data showed Thursday, providing a much-needed boost to the country's leadership as it tries to steer the economy out of a long-running slump. Overseas shipments expanded 1.5% on-year in April, slightly beating FXStreet-cited market consensus of 1.0% and a strong turnaround after a shock 7.5% plunge in March. Meanwhile, imports surged 8.4%, beating the 5.4% market forecast, providing hopes that demand in the world's number two economy could be improving. Imports had fallen 1.9% annually in March. The figures from Beijing's General Administration of Customs come as authorities struggle to spur an economic recovery that has sputtered since the country emerged from stringent Covid control measures in late 2022.

----------

BROKER RATING CHANGES

----------

Barclays raises NatWest price target to 400 (330) pence - 'overweight'

----------

COMPANIES - FTSE 100

----------

3i said net asset value per share on March 31 was 2,085 pence, up from 1,745p a year earlier. Across financial 2024, the infrastructure investment trust recorded a total return of 23%, down from 36% a year earlier. Operating pretax profit fell to GBP3.83 billion from GBP4.58 billion, which it blamed on foreign exchange loss on investments versus gain. It declared a dividend of 34.5p per share, up from 29.75p a year earlier, taking its total financial 2024 dividend to 61p from 53p a year earlier. Chief Executive Officer Simon Borrows comments: "We expect that the current macro-economic conditions and geopolitical uncertainty will persist in the near term and that this will continue to impact confidence and pricing expectations in the wider mid-cap M&A market. Our rigorous and disciplined approach to capital allocation remains unchanged. We have been building resilient portfolio companies that are capable of navigating through these challenging trading conditions."

----------

BAE Systems said trading in 2024 so far has been in line with line with expectations, with operational performance continuing to be "strong and our backlog and programme incumbencies underscore our confidence in our long-term value-creating model," according to CEO Charles Woodburn. The defence, aerospace and security company said its full-year 2024 guidance remains unchanged. Woodburn comments: "We're continuing to deliver on mission critical requirements for our customers, and progress our long-term strategic programmes within the elevated threat environment. We have commenced the integration of our new Space & Mission Systems business in the US following the closing of the Ball Aerospace acquisition in February. Our global presence and diverse portfolio of products and services provide high visibility for top-line growth, margin expansion and cash generation in the coming years."

----------

COMPANIES - FTSE 250

----------

Watches of Switzerland said it completed the acquisition of Roberto Coin Inc, an associate company of Roberto Coin Spa, for a total of USD130 million from Roberto Coin Spa, Pilar Coin and Peter Webster, co-founder of Roberto Coin Inc. The watch retailer said Roberto Coin designs and manufactures delicately handcrafted jewellery with a unique ruby signature and is the sixth largest jewellery brand in the US by sales at retail value. Roberto Coin Inc has exclusive perpetual rights to import and distribute Roberto Coin jewellery throughout the US, Canada, Caribbean and Central America. The acquisition was financed via a new USD115 million term loan facility. Watches of Switzerland CEO Brian Duffy comments: "We believe there is significant opportunity to leverage our proven retail expertise in luxury branded jewellery. The luxury branded jewellery category has consistently outperformed the wider jewellery sector, and we see further strategic and operational opportunities for the business within the broader group."

----------

OTHER COMPANIES

----------

Synthomer said trading in the first quarter of 2024 was in line with its expectations at the start of the year. The chemicals manufacturer said continuing group volumes were at their highest levels since the second quarter of 2022, while continuing group earnings before interest, tax, depreciation and amortisation was higher than a year earlier, benefitting from "continued robust pricing particularly in our speciality businesses, ongoing cost reduction activities and lower energy costs". Continuing group revenue was lower on-year due to lower raw materials prices. CEO Michael Willome comments: "We are cautiously encouraged by trading since the start of the year: while there are signs of improvement in some of our end markets, visibility of a sustained recovery remains elusive at this stage. We therefore continue to strengthen Synthomer's position for the future, by delivering our specialisation strategy, optimising our portfolio and cost position, and demonstrating the cash generative nature of our business."

----------

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
13 Jun 2024 16:15

UK dividends calendar - next 7 days

Friday 14 June 
AEW UK REIT PLCdividend payment date
Aptitude Software Group PLCdividend payment date
Aquila European Renewables PLCdividend payment date
Burford Capital Ltddividend payment date
FRP Advisory Group PLCdividend payment date
James Halstead PLCdividend payment date
Midwich Group PLCdividend payment date
Mincon Group PLCdividend payment date
Ocean Wilsons Holdings Ltddividend payment date
Pershing Square Holdings Ltddividend payment date
Petershill Partners PLCdividend payment date
PetroTal Corpdividend payment date
Seplat Energy PLCdividend payment date
Town Centre Securities PLCdividend payment date
Town Centre Securities PLCspecial dividend payment date
Monday 17 June 
Churchill China PLCdividend payment date
Inchcape PLCdividend payment date
Princess Private Equity Holding Ltddividend payment date
Tuesday 18 June 
no events scheduled 
Wednesday 19 June 
BlackRock Greater Europe Investment Trust PLCdividend payment date
Centamin PLCdividend payment date
Fintel PLCdividend payment date
Henderson Eurotrust PLCdividend payment date
MP Evans Group PLCdividend payment date
Thursday 20 June 
3i Group PLCex-dividend payment date
Airtel Africa PLCex-dividend payment date
Animalcare Group PLCex-dividend payment date
Arbuthnot Banking Group PLCspecial dividend payment date
Aurora Investment Trust PLCdividend payment date
AVI Global Trust PLCex-dividend payment date
Baillie Gifford China Growth Trust PLCex-dividend payment date
Barings Emerging EMEA Opportunities PLCex-dividend payment date
British Land Co PLCex-dividend payment date
Castings PLCex-dividend payment date
Diverse Income Trust PLCex-dividend payment date
Experian PLCex-dividend payment date
Fidelity China Special Situations PLCex-dividend payment date
Fidelity Special Values PLCdividend payment date
Flowtech Fluidpower PLCex-dividend payment date
Gamma Communications PLCdividend payment date
GB Group PLCex-dividend payment date
Gooch & Housego PLCex-dividend payment date
Henderson Opportunities Trust PLCdividend payment date
Inspired PLCex-dividend payment date
Maven Income & Growth VCT PLCex-dividend payment date
Mercantile Investment Trust PLCex-dividend payment date
Mitie Group PLCex-dividend payment date
Patria Private Equity Trust PLCex-dividend payment date
Persimmon PLCex-dividend payment date
RWS Holdings PLCex-dividend payment date
S&U PLCex-dividend payment date
Science Group PLCex-dividend payment date
Scottish American Investment Co PLCdividend payment date
Tate & Lyle PLCex-dividend payment date
Templeton Emerging Markets Investment Trust PLCex-dividend payment date
Touchstar PLCex-dividend payment date
United Utilities Group PLCex-dividend payment date
Vianet Group PLCex-dividend payment date
VP PLCex-dividend payment date
Wynnstay Properties PLCex-dividend payment date
Yu Group PLCdividend payment date
  
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
21 May 2024 18:35

Big city malls the future for Klepierre in battle with online

May 21 (Reuters) - Mall operator Klepierre is focusing on Europe's most dynamic and affluent big cities and offering experiences beyond shopping to compete with fast-growing online retailers, its chairman Jean-Marc Jestin told Reuters on Tuesday.

Read more
20 May 2024 09:47

LONDON BROKER RATINGS: Deutsche likes Trainline and Baltic Classifieds

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

Read more
10 May 2024 09:52

LONDON BROKER RATINGS: UBS raises Trainline, cuts Kingspan

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
10 May 2024 07:56

LONDON BRIEFING: FTSE 100 called up on BoE hold and UK economic growth

(Alliance News) - Stocks in London are set to open up on Friday after a dovish Bank of England interest rates hold on Thursday.

Read more
9 May 2024 17:33

London's FTSE 100 hits record for fourth session after BoE signals rate cuts

FTSE 100 up 0.3%, FTSE 250 adds 0.2%

*

Read more
9 May 2024 15:21

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.

Read more
9 May 2024 10:00

TOP NEWS: 3i NAV increase driven by compelling growth story at Action

(Alliance News) - 3i Group PLC on Thursday boosted its dividend, despite a drop in profits, after an "excellent" performance from retailer Action.

Read more
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.

Read more
9 May 2024 07:22

3i Group reports 'strong' results in challenging year

(Sharecast News) - 3i Group reported a 'strong' set of results in what it described as a challenging year on Thursday, with a total return of £3.84bn, representing a 23% return on opening shareholders' funds.

Read more
8 May 2024 14:35

Thursday preview: Bank of England, China trade data in the spotlight

(Sharecast News) - The Bank of England's latest policy decision will be front and centre on Thursday with quite a few economists - albeit not all - increasingly anticipating interest rate cuts sooner rather than later.

Read more
8 May 2024 09:39

LONDON BROKER RATINGS: UBS raises Centrica to 'buy' from 'neutral

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
3 May 2024 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.