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London pre-open: Stocks seen higher as traders await US jobs data

Fri, 06th Jun 2014 07:39

UK markets were set for a slightly positive start on Friday, with the tone set by another record finish on Wall Street, as investors gear up for the all-important US jobs report later on.City sources expect London's FTSE 100 to open around eight points higher than Thursday's close of 6,813.49, its lowest finish since May 20th.UK investors were underwhelmed yesterday by a string of new measures announced by the European Central Bank (ECB) yesterday in an attempt to stave off deflation and boost growth. However, US stocks performed well with the S&P 500 and Dow Jones Industrial both rising to all-time highs.In an unprecedented move, ECB President Mario Draghi dropped the deposit facility rate into negative territory, effectively charging banks to keep their money at the ECB."This is the first time that a major central bank has used a negative rate strategy; it is significant from a risk viewpoint and can be viewed similarly to the 'whatever it takes' statement by Draghi in July 2012," said Dawn Kendall from Investec Wealth & Investment.Draghi also unveiled a string of new measures, including a 10 basis-point cut in the main refinancing rate to 0.15% and a package of up to €400bn of cheap loans to banks to encourage lending."With the market fuelled on stimulus hopes yesterday, attention will soon be shifted to the US pay-rolls report due later today" said Lee Mumford, Financial Sales Trader at Spreadex.Analysts expect data to show a 215,000 increase in non-farm payrolls in May, down from the particularly strong reading of 288,00 the month before. The unemployment rate is forecast to rise to 6.4% from 6.3%.Stocks to watchCommunication services group KCOM said it met expectations with its annual results and increased its dividend by a tenth despite seeing no growth in revenues and profits in the year ended March 31st. However, the company said that after a recent re-financing and with underlying cash flow strong, it is looking for investment opportunities, both organically and inorganically, to strengthen its position in target markets.Pub grub and accommodation has helped froth up annual sales and profits at pub and brewing group Fuller, Smith & Turner, which hiked its dividend by 11%.Ultra Electronics has won a three-year contract worth $19m with the US Navy. The work, awarded to its Ocean Systems business (UEOS) based in Massachusetts, is for the production of the Naval Acoustic Electromechanical Beacon expendable countermeasures.BC

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6 Jun 2014 16:24

MARKET COMMENT: FTSE 100 Posts Biggest Daily Gain Since April

LONDON (Alliance News) - UK stocks closed firmly higher Friday, with the FTSE 100 posting its biggest daily rise since April 29, boosted by a strong session on Wall Street on Thursday and after the US non-farm payroll report came in broadly as expected. London's major equity indices opened

6 Jun 2014 09:38

Friday broker round-up UPDATE

African Minerals: Investec places both its target price (prev.: 189p) and its buy recommendation under review. ASOS: JP Morgan reduces target price from 6600p to 4259p and retains its overweight rating. Citi reduces target price from 7000p to 3700p, while leaving its buy recommendation unchanged. D

6 Jun 2014 09:36

UK WINNERS & LOSERS: Synergy Health Boosted By Contract Win

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - LOSERS
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Smith & Nephew, down 1.1%. Volatile trading in the medical technology compa

6 Jun 2014 09:25

MARKET COMMENT: Calm Returns To Markets Ahead Of US Jobs Report

LONDON (Alliance News) - UK stocks indices are trading broadly higher Friday, although trading across all markets has become subdued once again after the excitement of Thursday's rate cut by the European Central Bank, as investors await the US non-farm payroll report still to come. By mid-m

6 Jun 2014 08:34

London open: UK stocks rise ahead of US non-farm payrolls

- ECB moves still in focus - Markets await jobs report this afternoon - Smith & Nephew pauses after strong run - Centrica lifted by bid speculation techMARK 2,834.66 +0.35% FTSE 100 6,830.78 +0.25% FTSE 250 16,044.41 +0.31% UK markets bounced off a two-and-a-half week low on Friday following anoth

6 Jun 2014 08:05

KCOM Lifts Dividend, Pledges Continued Investment In Fibre Roll Out

LONDON (Alliance News) - KCOM Group PLC raised its dividend and pledged a continued investment in the roll-out of high speed fibre-based broadband products, as it said Friday that pretax profit rose in the year to end-March. The telecommunications company posted a total dividend of 4.88 pen

6 Jun 2014 07:11

KCOM eyes growth opportunities after flat year

- Revenues and profits broadly flat - Cash flow strong, net debt reduced - Company looking for investment opportunities Communication services group KCOM said it met expectations with its annual results despite a subdued performance in the year ended March 31st. However, the company said that afte

6 Jun 2014 06:36

MARKET COMMENT: FTSE 100 To Open Higher Ahead On Non-Farm Payrolls

LONDON (Alliance News) - UK stocks are set to open higher Friday, following the sharp market movements on Thursday that were prompted by the extraordinary announcements from the European Central Bank and ahead of the US non-farm payroll report due at 1330 BST. The DJIA closed at an all-time

6 Jun 2014 06:31

British telecoms group KCom's profit falls marginally

June 6 (Reuters) - British telecoms company KCom Group Plc reported a marginal fall in full-year pretax profit and said it expected to see a continued decline in some traditional carrier revenue. KCom Group, which provides communications services for customers such as British Airways and V

5 Jun 2014 16:35

MARKET COMMENT: ECB Finally Eases, But FTSE Falls, Euro Gains

LONDON (Alliance News) - The European Central Bank finally moved Thursday to cut interest rates and prompt banks to lend more in an effort to stave off the threat of deflation, lifting stock markets in Europe.

However, UK stock indices lost the gains they made in the wake of the ECB

5 Jun 2014 07:33

UK MORNING BRIEFING: ASOS Drags Down AIM Ahead Of ECB Meeting

LONDON (Alliance News) - ASOS is dragging down the AIM All-Share Index at the open Thursday after lowering its profit guidance. The online fashion retailer, by far the biggest AIM stock by market capitalisation, dropped 40% at the open and was down 34% a half hour into trading

5 Jun 2014 06:43

MARKET COMMENT: UK Stocks Set For Muted Open Ahead Of Central Banks

LONDON (Alliance News) - UK stocks are set for a muted open Thursday, as investors await highly anticipated policy decisions from the Bank of England and the European Central Bank. "The release of the BoE and more importantly the ECB monetary policy decisions will make for a crucial day in

4 Jun 2014 16:46

FTSE Confirms 3i Group, Intu Properties To Join FTSE 100

LONDON (Alliance News) - FTSE has confirmed that the following changes will take effect from the market open on June 23, following completion of its quarterly review. ------- FTSE 100 Adds: 3i Group Intu Properties ------- FTSE 100 Deletes: William HillRead more

3 Jun 2014 05:29

UK Earnings, Trading Statements Calendar - Week Ahead

Tuesday, June 3

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