LONDON (Alliance News) - Stock prices in London are seen opening lower on Monday following a sell-off in the US on Friday, amid heightened global trade tensions and worries about global economic growth.In company news, construction company Kier Group issued a profit warning, telecom firm KCOM Group received a higher takeover offer, and auto dealer Caffyns swung to an annual loss. IG futures indicate the FTSE 100 index is to open 30.51 points lower at 7,131.20. The blue chip index closed down 56.45 points, or 0.8%, at 7,161.71 on Friday.Kier said it continues to experience volume pressures within its Highways, Utilities and Housing Maintenance businesses. Moreover, the company said that while it continues to perform well, with double-digit growth in its order book during financial 2019, its Buildings business's revenue growth for 2019 will be lower than previously forecast.Kier said it now expects that revenue for financial 2019, to June 30, will be broadly in line with revenue for financial 2018, but it expects underlying operating profit for 2019 will be around GBP25 million lower than previously expected. Furthermore, Kier said it is likely to report a net debt position as at June 30 that "would have an adverse impact on 2019 average month-end net debt position".Hull-based telecommunications provider KCOM said it received a GBP563 million cash takeover offer from Macquarie Infrastructure.Back in April, KCOM had agreed to a GBP504 million acquisition offer from Humber Bidco, a subsidiary of the Universities Superannuation Scheme. However, on Monday, KCOM said it would be withdrawing its recommendation for USS in favour of the offer from Macquarie.KCOM said Macquarie offered 108 pence per share, which is 11p higher than the offer from USS.Car dealer Caffyns reported a drop in annual earnings amid challenging market conditions. For the financial year ended March 31, the company swung to an annual pretax loss of GBP428,000 from a restated GBP1.2 million profit, while revenue fell to GBP209,246 from a restated GBP215,868.Caffyns pointed to the new emissions-testing regime, the Worldwide Harmonised Light Vehicle Test Procedure, which "created a scarcity of supply of new cars for most of our brands". The company held its annual dividend at 22.5p. Caffyns said it was cautious over its outlook due to predictions of single-digit fall in the UK new car market "Our balance sheet is appropriately funded and our freehold property portfolio is a source of stability. We remain confident in the longer-term prospects of the company and are ready to exploit future business opportunities," Chief Executive Simon Caffyn said. Elsewhere, Goldman Sachs upgraded advertising firm WPP to Buy from Neutral and downgraded events company Informa to Neutral from Buy. Meanwhile, sportswear retailer JD Sports Fashion is holding its annual general meeting on Monday starting at 1300 BST. JD Sports is likely to be promoted to the FTSE 100 index from the FTSE 250 as part of the FTSE Russell index review changes to be announced on Wednesday. US President Donald Trump's decision to impose a 5% tariff on all Mexican imports from June 10 weighed on investor sentiment. Trump also said he has decided to end preferential trade treatment for India from June 5.The Japanese Nikkei 225 index closed down 0.9%. In China, the Shanghai Composite is down 0.3%, while the Hang Seng index in Hong Kong is down 0.1%."Asian markets moved mostly lower overnight, European and US stocks are pointing to a softer open as concerns grow that new threats against Mexico and India, heaped on top of the US-China trade dispute could push the global economy into recession," said London Capital Group's Jasper Lawler.Chinese manufacturing expanded slightly in May for the third straight month, according to the Caixin China General Manufacturing Index released on Monday.Caixin reported its purchasing manager's index stood at 50.2 in May, the same as April. A figure over 50 indicates expansion. It said that manufacturers had seen an increase in new orders despite the fact that China is the midst of a trade war with the US.In the US on Friday, Wall Street ended sharply lower, with the Dow Jones Industrial Average down 1.4%, S&P 500 down 1.3% and Nasdaq Composite down 1.5%.The pound was quoted at USD1.2643 early Monday, up from USD1.2616 at the London equities close Friday.Trump praised Boris Johnson and Nigel Farage, talked up the prospect of a Brexit trade deal, rebuked London Mayor Sadiq Khan and denied making "bad" comments about the Duchess of Sussex as he set off for the UK.The US president said he expected his three-day state visit to be "very important" and "very interesting" as he left the White House on Sunday evening.Ahead of the visit, Trump called on the UK to leave the EU without a deal if Brussels refuses to meet its demands and urged the government to send Farage into the negotiations.The economic events calendar on Monday has manufacturing PMI readings from Italy, France, Germany, the eurozone and UK at 0845 BST, 0850 BST, 0855 BST, 0900 BST and 0930 BST respectively. The same for the US is due at 1445 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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