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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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BUZZ-Ladbrokes: boosted by Berenberg upgrade

** British bookmaker Ladbrokes' shares up 2.2 pct among top gainers on FTSE Mid 250 index after Berenberg raises to "buy" from "hold, hikes PT to 185p from 130p ** Brokerage cites approval of merger with Gala Coral & estimates 2017-18 EPS +15% for cos together ** Coral results (due Au

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26 Aug 2016 07:07

LONDON BRIEFING: All Eyes Turn To Fed Chair Yellen's Speech

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24 Aug 2016 09:13

UPDATE 1-Paddy Power Betfair expects faster cost savings from merger

* Increases cost savings to 65 mln pounds from 50 mln * May seek further deals or return cash to shareholders * Combined group EBITDA up 31 pct to 181 mln pounds (Adds details on strategy, CEO interview) By Padraic Halpin DUBLIN, Aug 24 (Reuters) - Gambling company Paddy

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19 Aug 2016 12:07

Friday broker round-up

(ShareCast News) - GKN: Goldman Sachs reiterates neutral with a target price of 311p. Admiral group: Canaccord maintains hold with a 2100p target. Standard Chartered: UBS reiterates sell with a 600p target. Intertek: Berenberg reiterates hold with a 3600p target. Kaz Minerals: Credit Suisse keeps

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12 Aug 2016 09:37

WINNERS & LOSERS SUMMARY: CEO Change Sends Restaurant Group Higher

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12 Aug 2016 08:29

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Tullow Oil To Buy

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10 Aug 2016 17:28

UPDATE 1-Rank Group, 888 push for William Hill board talks as detail bid

(Adds details, shares) By Pranav Kiran Aug 10 (Reuters) - Casino and bingo hall operator Rank Group Plc and online gambling company 888 Holdings Plc called on Wednesday for talks with the board of William Hill Plc after their proposed joint bid was rejected by the British bookmaker.

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9 Aug 2016 17:34

UPDATE 3-British bookie William Hill spurns $4.1 bln Rank-888 bid

* Bookmaker rejects 364 pence-a-share-approach * Says 16 pct premium undervalues group * Shares were higher than bid level in March * William Hill closes up 0.49 pct, 888 and Rank down (Adds closing share prices, details on Betfair) By Paul Sandle and Rahul B Aug 9

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9 Aug 2016 08:33

BROKER RATINGS SUMMARY: Cantor Upgrades easyJet To Buy From Hold

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5 Aug 2016 10:22

UPDATE 1-Online problems depress profit for bid target William Hill

* First-half operating profit falls 16 pct * Poor online performance blamed * Says still waiting to hear details of 888-Rank approach (Adds CEO comments, shares) By Paul Sandle LONDON, Aug 5 (Reuters) - William Hill, the British bookmaker that last month sacked its chief

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4 Aug 2016 11:11

UPDATE 1-Surprise soccer results boost profits for Ladbrokes

* H1 operating profit up by a better-than-expected 34 pct * Full-year consensus seen rising 5-8 pct * Boosted by favourable results in soccer offsets (Adds comments by CEO, analysts, share price) By Paul Sandle LONDON, Aug 4 (Reuters) - Soccer club Leicester City's fairy

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4 Aug 2016 08:15

Ladbrokes leaps on back of thoroughbred first-half results

(ShareCast News) - Bookmaker Ladbrokes first-half profits beat management and City forecasts by a length as favourable results from the sporting gods put an extra sheen on the progress being made after last year's strategic rejig. Having got of to a strong start in the first quarter, growth accelera

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4 Aug 2016 06:20

Ladbrokes first-half profit helped by favourable sports results

LONDON, Aug 4 (Reuters) - British bookmaker Ladbrokes reported a better-than-expected 34 percent rise in first-half operating profit on Thursday, helped by some bookmaker-friendly sporting results. The company, whose 2.3 billion pound ($3 billion) merger with rival Coral was approved last

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26 Jul 2016 09:01

Ladbrokes, Coral must sell 350 to 400 shops to get merger clearance, says CMA

(ShareCast News) - The Competition and Markets Authority has confirmed that bookmakers Ladbrokes and Gala Coral will have to sell 350 to 400 shops in order to obtain clearance for their proposed merger. The regulator said on Tuesday that it has identified 642 local areas where the merger could resul

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26 Jul 2016 06:49

UPDATE 1-Ladbrokes, Coral must sell stores to get merger cleared - UK regulator

(Adds detail, background) LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a

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