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London midday: Stocks rise as BoE votes to keep interest rates unchanged

Thu, 08th Oct 2015 11:07

(ShareCast News) - London stocks recovered slightly from losses earlier on Thursday as the Bank of England decided to keep interest rates unchanged.The BoE's Monetary Policy Committee voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn, as expected by analysts. Ian McCafferty was once again the only policymaker to vote for an interest rate increase."Ian McCafferty preferred to increase Bank Rate by 25 basis points, given his view that building domestic cost pressures were likely to come to outweigh the dampening influence of the appreciation of sterling, causing inflation to overshoot the 2% target in the medium term," according to the meeting minutes released alongside the policy decision.In the minutes the Bank highlighted weak inflation, low wages, potential risks from a slowdown in emerging markets as reasons for holding off on a rate rise.The market is also awaiting meeting minutes from the European Central Bank and the Federal Reserve at 1230 BST and 1900 BST, respectively.The ECB's account of its 2-3 September meeting may provide clues on whether the central bank will extend its quantitative easing programme beyond September 2016. Any discussion on a potential cut to the deposit rate will be also closely monitored.Later on, the Federal Reserve's 16-17 September meeting minutes will be under the microscope for hints on the first interest rate rise in nearly a decade.Fed Chair Janet Yellen has said policymakers expected an increase at its October or December meetings this year but last Friday's weaker-than-anticipated non-farm payrolls report prompted some analysts to push back their expectations until next year.Despite a slowing of job gains in September, Fed official John Williams said on Tuesday he still expects the central bank to begin raising rates this year. He said he believed the labour market has continued to improve and there have been no signs of a worsening global outlook."Things are looking up, and if they stay on track, I see this as the year we start the process of monetary policy normalisation," Williams said in a speech to the Urban Land Institute in San Francisco.In company news, Inmarsat slumped as the company reiterated its guidance for the year and said there's no material change in the trading environment for the group's performance.Rolls Royce rallied after saying it will step up plans to establish an Asian manufacturing capability to help the group double production with the introduction of new Boeing Co. and Airbus Group SE jets.Ladbrokes gained after appointing Kristof Fahy as chief marketing officer to lead all brand and marketing activity across digital and retail.Hays was lower as the recruitment company said currency movements have had an impact on its quarterly earnings.Glencore declined on fresh fears over the company's mounting debt and the repercussions it could have on the banking sector. Analysts at Bank of America said: "The banking industry may have significantly more exposure to Glencore than is generally appreciated in the market."Tullow Oil advanced after reaching an agreement with the government of Gabon over its licences in the Onal Complex Fields, regaining its 7.5% stake in the Onal Complex producing fields and the Ezanga block. Market MoverstechMARK 3,017.17 +0.05%FTSE 100 6,354.77 +0.29%FTSE 250 16,966.86 -0.38% FTSE 100 - RisersFresnillo (FRES) 695.00p +2.81%BHP Billiton (BLT) 1,135.00p +2.44%Tesco (TSCO) 201.00p +2.03%Shire Plc (SHP) 4,409.00p +1.85%Rolls-Royce Holdings (RR.) 747.00p +1.77%Burberry Group (BRBY) 1,478.00p +1.58%Standard Chartered (STAN) 753.00p +1.56%ARM Holdings (ARM) 951.00p +1.39%Ashtead Group (AHT) 1,000.00p +1.37%Randgold Resources Ltd. (RRS) 4,317.00p +1.36% FTSE 100 - FallersInmarsat (ISAT) 945.00p -3.18%Glencore (GLEN) 121.00p -2.42%Aviva (AV.) 472.90p -1.93%Kingfisher (KGF) 353.00p -1.53%Marks & Spencer Group (MKS) 491.60p -1.50%Wolseley (WOS) 3,704.00p -1.23%Next (NXT) 7,645.00p -1.04%Mondi (MNDI) 1,446.00p -0.89%WPP (WPP) 1,399.00p -0.71%Vodafone Group (VOD) 207.10p -0.62% FTSE 250 - RisersEvraz (EVR) 94.50p +5.59%Kaz Minerals (KAZ) 128.30p +4.65%NMC Health (NMC) 854.50p +2.95%Telecom Plus (TEP) 1,107.00p +2.69%Tullow Oil (TLW) 247.90p +2.35%Cineworld Group (CINE) 569.50p +2.34%Synthomer (SYNT) 339.80p +2.04%Drax Group (DRX) 269.20p +2.01%Informa (INF) 581.00p +1.93%Dunelm Group (DNLM) 911.00p +1.79% FTSE 250 - FallersHays (HAS) 137.30p -6.92%IP Group (IPO) 222.10p -6.25%Riverstone Energy Limited (RSE) 865.00p -5.21%Weir Group (WEIR) 1,350.00p -3.78%Vectura Group (VEC) 170.00p -3.13%Clarkson (CKN) 2,165.00p -2.87%Enterprise Inns (ETI) 105.50p -2.77%Vesuvius (VSVS) 351.00p -2.72%Sophos Group (SOPH) 226.60p -2.54%Rank Group (RNK) 260.60p -2.54% FTSE TechMARK - RisersOxford Instruments (OXIG) 623.00p +1.88%Filtronic (FTC) 6.88p +1.85%KCOM Group (KCOM) 91.75p +0.82%XP Power Ltd. (DI) (XPP) 1,650.00p +0.61%E2V Technologies (E2V) 237.00p +0.42%IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.56 +0.23%SDL (SDL) 371.75p +0.20% FTSE TechMARK - FallersNCC Group (NCC) 242.50p -4.72%Dialight (DIA) 660.00p -1.05%Skyepharma (SKP) 337.00p -0.81%Ricardo (RCDO) 898.50p -0.44%Spirent Communications (SPT) 75.50p -0.33%Consort Medical (CSRT) 935.00p -0.16%
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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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26 Oct 2016 15:57

Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of

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21 Oct 2016 14:38

Daisy pulls sterling junk bond as investors get tough

By Robert Smith LONDON, Oct 21 (IFR) - Daisy called off an attempt to issue a sterling high-yield deal on Friday, in the latest sign of waning UK investor appetite for riskier debt in challenging sectors. The UK company threw in the towel on the debut bond after four days of marketing

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18 Oct 2016 17:12

UPDATE 4-William Hill, Amaya drop short-lived gambling merger talks

* Talks abandoned less than two weeks after announcement * Sector consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Amaya shares drop 8.3 percent (Adds share move, Amaya spokesman

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18 Oct 2016 13:24

RPT-UPDATE 3-William Hill, Amaya drop short-lived gambling merger talks

(Repeats for wider distribution, no changes to text) * Talks abandoned less than two weeks after announcement * Sector is consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Ama

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18 Oct 2016 08:28

Ladbrokes revenue grows for fourth successive quarter

(ShareCast News) - FTSE 250 betting and gambling company Ladbrokes reported growth for a fourth successive quarter for revenue as it remains confident of delivering full year results in line with expectations. In a trading update for the third quarter ended 30 September, net revenue increased 12.1%,

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18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

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17 Oct 2016 07:13

Ladbrokes and Coral announce planned sale of 359 shops

(ShareCast News) - Bookmaker Ladbrokes announced on Monday that subsidiaries of both itself and merger partner Gala Coral Group have agreed to sell a total of 359 licensed betting offices to Done Brothers Cash Betting - trading as Betfred - and StanJames Abingdon - trading as Stan James. The FTSE 25

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17 Oct 2016 06:58

Monday newspaper round-up: New Brexit plans, dividends, supermarkets

(ShareCast News) - Britain would continue to pay billions of pounds into the EU budget after Brexit to maintain cherished single-market access for the City of London and other sectors under plans being discussed by Theresa May's cabinet. The prime minister's demand that Britain controls its borders

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17 Oct 2016 06:20

Ladbrokes, Gala Coral to sell 359 shops ahead of merger

LONDON, Oct 17 (Reuters) - British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds ($69 million) to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed. The pair were told in Ju

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10 Oct 2016 07:49

BUZZ-William Hill: best day in 3 months after confirming merger talks

** William Hill rises 5.4 pct, its best day since mid-July, after confirming merger talks with Canada's Amaya ** Co says deal would create a global leader in sports betting, poker and casino ** Top riser on Stoxx 600 and most traded by average volumes - 1.5x 30-day average in the firs

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7 Oct 2016 07:39

BUZZ-UK gambling companies lower after media reports of TV ad ban

** Shares in British gambling companies fall after The Times newspaper reports that the companies are due to be banned from advertising on television during the day ** William Hill down 2.9 pct, Labrokes down 2.5 pct vs. Britain's midcap index which is up 0.2 pct ** Cenkos analyst Sim

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20 Sep 2016 06:57

Tuesday newspaper round-up: May in New York, Ladbrokes, building blocked

(ShareCast News) - Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their UK business. Mrs May will meet "mostly" chief executives from the finance sector along with figures from the technology

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31 Aug 2016 07:51

Gala Coral revenue up but losses widen

(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs. In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings be

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26 Aug 2016 08:46

Ladbrokes given a boost by Berenberg upgrade

(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech. The broker said since it initiated on Ladbrokes a number of positives have materialised with

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