(Alliance News) - Stock prices in London opened higher on Monday, with airlines weighing on the FTSE 100 after a profit warning by Germany's Lufthansa, while in the FTSE 250, Kier Group's woes continued as the construction firm axed its dividend. The FTSE 100 was up just 2.10 points at 7,347.88. The FTSE 250 was up 37.51 points, or 0.2%, at 19,155.85. The AIM All-Share was up 1.98 points, or 0.2%, at 939.19.The Cboe UK 100 index was up 0.1% at 12,470.39. The Cboe UK 250 was up 0.1% at 17,158.89, and the Cboe UK Small Companies was flat at 11,670.12.In European equities, the CAC 40 in Paris was flat and the DAX 30 in Frankfurt was up 0.1%.In the FTSE 100, Severn Trent was up 1.0% after Macquarie started coverage on the water company with an Outperform rating. The Australian bank initiated fellow utility stocks National Grid and United Utilities at Outperform. National Grid and United Utilities were up 0.4% and 0.3% respectively. At the other end of the large cap index, airlines were the worst performers after German carrier Lufthansa lowered its profit outlook for 2019, amid market over capacity and intense competition from low-cost carriers in Europe.Budget airline easyJet and British Airways parent International Consolidated Airlines Group were down 3.3% and 3.1%, respectively. Midcap peer Wizz Air was down 4.6% and Irish carrier Ryanair Holdings was down 4.2%. Lufthansa blamed "price deterioration in Europe caused by market-wide overcapacities and aggressively growing low cost competitors are putting pressure on yields in the European short-haul market".The German airline said it now expects adjusted earnings before interest and tax of EUR2.0 billion to EUR2.4 billion in 2019, on the basis of low-single-digit revenue growth. In 2018, Lufthansa reported adjusted Ebit of EUR2.8 billion, down from EUR3.0 billion in 2017.It said its network airlines are expected to have an adjusted Ebit margin of between 7% and 9%, with budget carrier Eurowings suffering an adjusted Ebit margin of negative 4% to negative 6%.British American Tobacco was down 1.6% after Morgan Stanley downgraded the Dunhill and Lucky Strike cigarette maker to Underweight from Equal Weight. In the FTSE 250, Babcock International was up 3.7% after the defence contractor confirmed it rejected in January an approach from outsourcer Serco Group.The proposal was unsolicited and "highly preliminary", Babcock said, and involved an all-share merger. No further proposal has been received since January. The Sunday Times had reported Serco made at least two attempts to merge with Babcock. Serco shares were flat. At the bottom of the midcap index, Kier Group was down 6.6%. The troubled construction firm suspended dividend payments and earmarked several non-core business for disposal as it looks to get its balance sheet under control.Kier has put up for sale Kier Living, its housebuilding business, saying that despite being a strong business it would require significant funding to keep growing. So far there have been "a number" of expressions of interest.Kier Property also has been put up for sale, with the investment required likewise "incompatible" with Kier's capital requirements, and Kier also will be quitting the Management and Environmental Services businesses.Kier has suspended dividend payments for its year ending June, and the following financial year. At the interim stage, Kier slashed its first half dividend 79% to 4.9 pence a share. The stock is down 71% so far in 2019. Kier will be demoted from the FTSE 250 when the FTSE Russell index review changes come into effect next Monday. The Japanese Nikkei 225 index closed flat. In China, the Shanghai Composite closed up 0.2%, while the Hang Seng index in Hong Kong is up 0.5%.The pound was quoted at USD1.2577 Monday, down from USD1.2604 at the London equities close Friday.The British Chamber of Commerce cut its UK growth forecasts for the next two years, it revealed Monday, despite a more positive outlook on 2019.For 2020, the BCC has cut its growth forecast to 1.0% from 1.3%, and for 2021 to 1.2% from 1.4%. But for 2019, the BCC has upgraded its UK growth estimate to 1.3% from 1.2%, mainly due to "exceptionally rapid" stockbuilding early in 2019, as manufacturers prepared for the intended end-March Brexit."However, the immediate boost to UK GDP is forecast to come at the cost of more subdued growth in 2020 and 2021 as the unwinding of historically-high inventory levels, coupled with weaker business investment, weigh on economic activity," said the BCC.The economic events calendar has Ireland first-quarter GDP data at 1100 BST.
UK dividends calendar - next 7 days
Monday 27 May | |
no events scheduled | |
Tuesday 28 May | |
Atrato Onsite Energy PLC | dividend payment date |
Chesnara PLC | dividend payment date |
Costain Group PLC | dividend payment date |
CQS Natural Resources Growth & Income PLC | dividend payment date |
Foxtons Group PLC | dividend payment date |
Quilter PLC | dividend payment date |
Team Internet Group PLC | dividend payment date |
Tetragon Financial Group Ltd | dividend payment date |
Wednesday 29 May | |
Fresnillo PLC | dividend payment date |
Mortgage Advice Bureau Holdings PLC | dividend payment date |
Seplat Energy PLC | special dividend payment date |
Stelrad Group PLC | dividend payment date |
Tyman PLC | dividend payment date |
Wheaton Precious Metals Corp | ex-dividend payment date |
Thursday 30 May | |
Advanced Medical Solutions Group PLC | ex-dividend payment date |
Alfa Financial Software Holdings PLC | ex-dividend payment date |
Alfa Financial Software Holdings PLC | special dividend payment date |
Alliance Trust PLC | ex-dividend payment date |
Anexo Group PLC | ex-dividend payment date |
Associated British Foods PLC | ex-dividend payment date |
Baillie Gifford Shin Nippon PLC | dividend payment date |
BlackRock World Mining Trust PLC | ex-dividend payment date |
British Smaller Cos VCT2 PLC | ex-dividend payment date |
Britvic PLC | ex-dividend payment date |
Canadian General Investments Ltd | ex-dividend payment date |
Card Factory PLC | ex-dividend payment date |
Centamin PLC | ex-dividend payment date |
Centrica PLC | ex-dividend payment date |
Cerillion PLC | ex-dividend payment date |
Coats Group PLC | dividend payment date |
Coca-Cola HBC AG | ex-dividend payment date |
DFS Furniture PLC | dividend payment date |
Dowlais Group PLC | dividend payment date |
Downing Renewables & Infrastructure Trust PLC | ex-dividend payment date |
Fair Oaks Income Ltd | ex-dividend payment date |
Fair Oaks Income Ltd Realisation | ex-dividend payment date |
Gamma Communications PLC | ex-dividend payment date |
Great Portland Estates PLC | ex-dividend payment date |
H&T Group PLC | ex-dividend payment date |
Henderson EuroTrust PLC | ex-dividend payment date |
Hill & Smith PLC | ex-dividend payment date |
Hilton Food Group PLC | ex-dividend payment date |
Intertek Group PLC | ex-dividend payment date |
JPMorgan European Growth & Income PLC | ex-dividend payment date |
JPMorgan Global Growth & Income PLC | ex-dividend payment date |
JTC PLC | ex-dividend payment date |
Keller Group PLC | ex-dividend payment date |
Law Debenture Corp PLC | ex-dividend payment date |
Likewise Group PLC | ex-dividend payment date |
LMS Capital PLC | ex-dividend payment date |
Macfarlane Group PLC | dividend payment date |
Marks & Spencer Group PLC | ex-dividend payment date |
Mobeus Income & Growth 2 VCT PLC | ex-dividend payment date |
Octopus AIM VCT 2 PLC | ex-dividend payment date |
Octopus Titan VCT PLC | dividend payment date |
On the Beach Group PLC | ex-dividend payment date |
Origin Enterprises PLC | ex-dividend payment date |
PetroTal Corp | ex-dividend payment date |
Premier Miton Global Renewables Trust PLC | ex-dividend payment date |
Regional REIT Ltd | ex-dividend payment date |
Sage Group PLC | ex-dividend payment date |
Seplat Energy PLC | ex-dividend payment date |
Severn Trent PLC | ex-dividend payment date |
Temple Bar Investment Trust PLC | ex-dividend payment date |
Triple Point Social Housing REIT PLC | ex-dividend payment date |
Ultimate Products PLC | ex-dividend payment date |
Vanquis Banking Group PLC | dividend payment date |
Victrex PLC | ex-dividend payment date |
Yu Group PLC | ex-dividend payment date |
Friday 31 May | |
abrdn Property Income Trust Ltd | dividend payment date |
Albion Development VCT PLC | dividend payment date |
Alternative Income REIT PLC | dividend payment date |
Arbuthnot Banking Group PLC | dividend payment date |
Balanced Commercial Property Trust Ltd | dividend payment date |
Bankers Investment Trust PLC | dividend payment date |
Bellevue Healthcare Trust PLC | dividend payment date |
City of London Investment Trust PLC | dividend payment date |
CQS New City High Yield Fund Ltd | dividend payment date |
Custodian Property Income REIT PLC | special dividend payment date |
CVC Income & Growth Ltd EURO | dividend payment date |
CVC Income & Growth Ltd GBP | dividend payment date |
Derwent London PLC | dividend payment date |
Diverse Income Trust PLC | dividend payment date |
Dunedin Income Growth Investment Trust PLC | dividend payment date |
Ecofin Global Utilities & Infrastructure Trust PLC | dividend payment date |
EJF Investments Ltd | dividend payment date |
Elementis PLC | dividend payment date |
Global Opportunities Trust PLC | dividend payment date |
Greencoat UK Wind PLC | dividend payment date |
Henderson Far East Income Ltd | dividend payment date |
Henderson International Income Trust PLC | dividend payment date |
Henry Boot PLC | dividend payment date |
Ibstock PLC | dividend payment date |
IWG PLC | dividend payment date |
JPMorgan American Investment Trust PLC | dividend payment date |
JPMorgan Global Core Real Assets Ltd | dividend payment date |
Kier Group PLC | dividend payment date |
Marwyn Value Investors Ltd | dividend payment date |
Mobeus Income & Growth VCT PLC | dividend payment date |
NB Global Monthly Income Fund Ltd | dividend payment date |
Octopus Renewables Infrastructure Trust PLC | dividend payment date |
Picton Property Income Ltd | dividend payment date |
Portmeirion Group PLC | dividend payment date |
PPHE Hotel Group Ltd | dividend payment date |
PRS REIT PLC | dividend payment date |
Reach PLC | dividend payment date |
Robert Walters PLC | dividend payment date |
Senior PLC | dividend payment date |
Shaftesbury Capital PLC | dividend payment date |
Sherborne Investors (Guernsey) C Ltd | dividend payment date |
STV Group PLC | dividend payment date |
Target Healthcare REIT PLC | dividend payment date |
Taylor Maritime Investments Ltd | dividend payment date |
TwentyFour Select Monthly Income Fund Ltd | dividend payment date |
Vesuvius PLC | dividend payment date |
Weir Group PLC | dividend payment date |
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