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London preopen: Stocks expected to slip on yuan devaluation

Tue, 11th Aug 2015 07:17

(ShareCast News) - City sources predict the FTSE 100 will open 13 points lower than Monday's close of 6,736.22.European equities are set to slip on the open following People's Bank of China moves, London Capital Group night dealer Jonathan Sudaria said. "The extreme 'one-off' devaluation in the yuan last night has concerns brewing that things really aren't ok in China and is tantamount to an admission by China's elites," Sudaria said.German and eurozone ZEW economic sentiment figures were also expected to be released on Tuesday.OANDA senior market analyst Craig Erlam said a small improvement is expected in the August readings with the boost coming from reduced Grexit concerns.Stocks to watch Just Retirement Group and Partnership Assurance Group have agreed an all-share merger deal. Just Retirement shareholders will own roughly 60% of the combined group and Partnership the remainder after its shareholders receive 0.834 Just Retirement shares for each of theirs, valuing the group at £668.5m.Bookmaker Ladbrokes posted a 44% drop in first-half pre-tax profit and cut its interim dividend as the company took a hit from impairment charges, which included the closure of some of its shops. Chief executive Jim Mullen said: "Our first half results reflect the challenge facing Ladbrokes. While we have some encouraging customer trends, we need to reset the business and invest. The results clearly show why we need to change and why we need to do so quickly."Carillion said it has been named as the preferred bidder for the Midland Metropolitan Hospital public/private partnership project which should generate more than £430m of construction and support services revenue.The company was the only bidder left in the process after Balfour Beatty withdrew from the race. Carillion said it will invest £16m of equity into the project and will spend £297m on building the hospital.In the papers China caught investors off guard by weakening its currency the most on record, sending ripples through the foreign exchange market. The People's Bank of China lowered the renminbi's daily fix to the US dollar by 1.9 per cent to 6.228, the most on record. Each morning the central bank fixes the currency at a certain point and allows the renminbi to trade as much as 2 percentage points in either direction from the mid-point. Typically the PBoC's adjustments are incremental. - The Financial TimesGoogle has announced a massive corporate overhaul that will see the internet giant separate its core business from its ambitious research divisions and owned by a new company, Alphabet. Chief executive Larry Page, who co-founded Google as a university research project two decades ago, announced the creation of Alphabet, a holding company of which Google would be one subsidiary, on Monday night. - The TelegraphWarren Buffett gave Wall Street a summer boost after the world's third richest man announced the biggest takeover deal of his long investment career with the $37 billion purchase of Precision Castparts Corp. American shares jumped after news broke of Mr Buffett's all-cash acquisition of the Oregon-based aircraft components maker. Markets were cheered both by the investor's bet on a continued economic recovery and by the suggestion that the mergers and acquisitions boom is going strong. - The Times

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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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

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

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

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

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%,

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

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

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

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

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

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

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

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

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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