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Share Price: 55.56
Bid: 55.64
Ask: 55.66
Change: -0.52 (-0.93%)
Spread: 0.02 (0.036%)
Open: 56.22
High: 56.32
Low: 54.98
Prev. Close: 56.08
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London close: FTSE in red as energy stocks weakened by sanctions

Wed, 30th Jul 2014 16:59

- FTSE closes down 34.31 at 6,773.44- Energy stocks hit by Russian sanctions- Eurozone confidence beats expectations- US GDP growth 4% techMARK 2,779.29 -0.11%FTSE 100 6,773.44 -0.50%FTSE 250 15,629.84 -0.36%London's blue chips ended Wednesday's session firmly in the red, with the sharpest decline seen around the opening of US markets, which saw the Dow Jones fall thanks to energy stocks, which were weighed down by concerns about the sanctions that were imposed on Russia. The FTSE 100 closed down 34.31 points at 6,773.44. Looking at the wider picture across Europe, CMC Markets UK analyst Jasper Lawler said: "Markets snapped out of a quiet morning when the advanced second quarter growth domestic product (GDP) growth figure for the US beat what appeared to be already optimistic forecasts with a stellar 4% growth rate."He continued: "Despite a brief lift from the US GDP report the FTSE was mostly slumped in negative territory with the oil and gas sector dragging the index lower with Shell, BP and BG Group all in the red over upcoming energy sanctions against Russia."The energy sector is most exposed because any retaliation from Russia against the sanctions, however unlikely would probably come through its oil and gas market supply dominance. Listed in the FTSE are some of the world's largest oil companies." UK firms less optimistic about prospects and jobs in JulyBritish companies were less optimistic about their prospects in July and fewer firms expect to increase staff numbers in the next year, a survey showed.Companies' expectations of their own prospects fell slightly this month, with the overall net balance of firms expecting their trading prospects to increase in the next year easing two points to 53%, according to the monthly Lloyds Business Barometer.Eurozone confidence beats expectations Across the Channel, Eurozone economic confidence rose more than expected in July. The sentiment index climbed to 102.2 from 102.1 in June, beating analysts' estimates for the reading to fall to 101.9.Another euro-area report showed German inflation rose 0.8%, on an annual basis, in July, as expected, easing back from a reading of 1% for June.Lawler believes the disinflation in France and several periphery countries is likely to limit the overall consumer price inflation (CPI) figure for the Eurozone, despite the slight pick up seen in the German number to 0.3% [on the month]. Over in the States, data showed that the economy expanded at an annualised pace of 4% in the second quarter of 2014, bouncing back strongly from a steep contraction in the weather-disrupted first quarter. The estimate smashed economists' predictions, who had on average expected GDP to rise by a lesser 3%.Meanwhile, the American private sector added fewer-than-expected jobs in July, as hiring cooled after the strongest reading in 19 months in June.According to ADP, private-sector payrolls increased by 218,000 in July, below the 230,000 consensus forecast.Barclays leads upsideBarclays was in the top spot after reporting a less-than-expected 12% fall in total income adjusted for insurance claims for the first half to £13.32bn, driven by reductions at its investment and African banking units. The consensus estimate had been for a drop to £13.23bn. Numis Securities reiterated a 'buy' recommendation for the stock, saying that "Investment Bank revenues were better than feared, the balance sheet is strengthening and the non-core run-off is progressing well".Espirito Santo, Deutsche Bank and Santander also kept their 'buy' ratings for Barclays. Sector peers HSBC, Barclays and Lloyds were all also higher. Housebuilder Travis Perkins also impressed as it reported double-digit growth across the board in the first half, with like-for-like revenues up 10.2% and profits up 16%. The company said it expects "continued solid growth" for the rest of the year.Astrazeneca was in demand after it struck a deal with drug developer Almirall for the rights to the Spanish group's respiratory franchise. The initial consideration is $875m.On the downside, Chile-focused mining group Antofagasta underwhelmed as it maintained its production guidance for 2014 after a sequential increase in output in the second quarter, while net cash costs were broadly flat. GKN retreated following yesterday's gains which came after the group soared into the top spot after saying that a good performance by its automotive business fuelled 6% higher profits at the engineering group in the first half to £296m. However, a strong pound saw sales fall 1%.FTSE 100 - RisersBarclays (BARC) 228.40p +4.24%Travis Perkins (TPK) 1,689.00p +2.67%Royal Bank of Scotland Group (RBS) 362.90p +2.51%Capita (CPI) 1,235.00p +1.65%Reckitt Benckiser Group (RB.) 5,295.00p +1.44%Carnival (CCL) 2,155.00p +1.32%IMI (IMI) 1,439.00p +1.20%ARM Holdings (ARM) 852.00p +1.19%Lloyds Banking Group (LLOY) 76.41p +1.03%AstraZeneca (AZN) 4,357.50p +0.81%FTSE 100 - FallersAntofagasta (ANTO) 816.00p -4.56%GKN (GKN) 351.30p -4.02%Sainsbury (J) (SBRY) 313.80p -2.94%Compass Group (CPG) 983.00p -2.48%BHP Billiton (BLT) 2,048.00p -2.29%Aberdeen Asset Management (ADN) 421.10p -2.23%CRH (CRH) 1,431.00p -2.19%St James's Place (STJ) 755.00p -2.08%Morrison (Wm) Supermarkets (MRW) 171.00p -2.01%Associated British Foods (ABF) 2,804.00p -1.99%FTSE 250 - RisersPets at Home Group (PETS) 182.00p +7.06%Tullett Prebon (TLPR) 249.20p +3.83%ICAP (IAP) 360.90p +2.88%Perform Group (PER) 212.10p +2.32%Premier Oil (PMO) 329.40p +2.23%Ophir Energy (OPHR) 214.50p +2.14%Diploma (DPLM) 638.00p +2.08%Phoenix Group Holdings (DI) (PHNX) 707.00p +1.95%AO World (AO.) 197.00p +1.91%Moneysupermarket.com Group (MONY) 185.40p +1.87%FTSE 250 - FallersPace (PIC) 337.40p -6.77%International Personal Finance (IPF) 548.50p -6.40%Jupiter Fund Management (JUP) 394.00p -5.08%Hochschild Mining (HOC) 158.80p -4.91%Dignity (DTY) 1,333.00p -3.55%RPC Group (RPC) 585.00p -2.99%Investec (INVP) 519.00p -2.99%Spectris (SXS) 1,906.00p -2.76%Keller Group (KLR) 890.00p -2.52%Just Eat (JE.) 205.50p -2.14%NR
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Banks tread tricky tightrope with politically exposed clients

LONDON, July 26 (Reuters) - The war of words between NatWest and erstwhile customer Nigel Farage has underscored the challenges global banks face in handling clients who could be defined as a politically exposed person, or PEP.

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26 Jul 2023 12:21

Shares fall as Fed rate rise looms

Euro STOXX down 0.9%

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26 Jul 2023 12:05

European banks flag bad loan risks as global economy falters

LONDON/MILAN/MADRID, July 26 (Reuters) - Europe's major banks, including Deutsche Bank and Lloyds Banking Group, on Wednesday pointed to the rising risk of bad loans as the global economy struggles with slow growth and high inflation.

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26 Jul 2023 10:04

TOP NEWS: Lloyds raises guidance following "robust" half year earnings

(Alliance News) - Lloyds Banking Group PLC said it was "well positioned to deliver" on its ambitions and raised its full-year guidance off the back of higher income and profit in the last six months.

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26 Jul 2023 09:25

NatWest's Alison Rose, trail-blazing finance boss, bows out after Farage breach

LONDON, July 26 (Reuters) - NatWest's departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the state-backed lender through the COVID-19 pandemic and market fallout from war in Europe and chaos in Westminster. But ultimately it was committing the cardinal sin of breaching the confidence of a client, former Brexit Party leader Nigel Farage, that cost her her job.

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26 Jul 2023 07:52

LONDON BRIEFING: Lloyds raises guidance; Rio Tinto profit down

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26 Jul 2023 07:03

Lloyds Bank interim profits surge 23%

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25 Jul 2023 12:26

Wednesday preview: Federal Reserve, Lloyds in the spotlight

(Sharecast News) - All eyes on Wednesday would be on the U.S. Federal Reserve and whether or not it signaled that interest rates hikes would stop after this policy meeting.

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25 Jul 2023 09:21

Mitie boosts revenue in "traditionally" lower first quarter

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24 Jul 2023 13:02

UK government to haul in banks over account closures

LONDON, July 24 (Reuters) - Britain's finance ministry will request a meeting with major lenders to discuss concerns that banks have closed some customer accounts over their political views, after a public spat between former Brexit party leader Nigel Farage and NatWest.

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24 Jul 2023 11:23

IN BRIEF: H&T increases bank facility with Lloyds to GBP50 million

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24 Jul 2023 06:53

UK city minister to warn banks over "de-banking" customers

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19 Jul 2023 15:52

Britain's banks slow in passing higher rates to savers -watchdog

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Britain's banks too slow in passing higher interest rates to savers, says watchdog

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19 Jul 2023 14:35

UK earnings, trading statements calendar - next 7 days

Thursday 20 July 
3i Group PLCTrading Statement
AJ Bell PLCTrading Statement
Anglo American PLCTrading Statement
Babcock International Group PLCFull Year Results
BHP Group LtdTrading Statement
Diploma PLCTrading Statement
Dunelm Group PLCFull Year Results
easyJet PLCTrading Statement
Howden Joinery Group PLCHalf Year Results
IG Group Holdings PLCFull Year Results
Intermediate Capital Group PLCTrading Statement
International Distributions Services PLCTrading Statement
Kier Group PLCTrading Statement
PensionBee Group PLCTrading Statement
Pharos Energy PLCTrading Statement
Premier Foods PLCTrading Statement
Premier Miton Group PLCTrading Statement
SSE PLCTrading Statement
Taylor Maritime Investments LtdFull Year Results
Vistry Group PLCTrading Statement
Volution Group PLCTrading Statement
Friday 21 July 
Close Brothers PLCTrading Statement
Glencore PLCTrading Statement
Petershill Partners PLCTrading Statement
Thruvision Group PLCFull Year Results
Monday 24 July 
discoverIE Group PLCTrading Statement
Cranswick PLCTrading Statement
Glantus Holdings PLCTrading Statement
MoneySupermarket.com PLCHalf Year Results
Ryanair Holdings PLCQ1 Results
Science Group PLCHalf Year Results
Shanta Gold LtdTrading Statement
South32 LtdTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 25 July 
City of London Investment Group PLCTrading Statement
Compass Group PLCTrading Statement
Croda International PLCHalf Year Results
Games Workshop Group PLCFull Year Results
Greencore Group PLCTrading Statement
Hummingbird Resources PLCTrading Statement
MITIE Group PLCTrading Statement
Paragon Banking Group PLCTrading Statement
Reach PLCHalf Year Results
Smart Metering Systems PLCTrading Statement
Tristel PLCTrading Statement
Tyman PLCHalf Year Results
Unilever PLCHalf Year Results
Unite Group PLCHalf Year Results
Wednesday 26 July 
Aptitude Software Group PLCHalf Year Results
Breedon Group PLCHalf Year Results
Conduit Holdings LtdHalf Year Results
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
FRP Advisory Group PLCFull Year Results
Gresham Technologies PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Lloyds Banking Group PLCHalf Year Results
Marston's PLCTrading Statement
Nichols PLCHalf Year Results
Primary Health Properties PLCHalf Year Results
Rathbones Group PLCHalf Year Results
Rio Tinto PLCHalf Year Results
Science Group PLCHalf Year Results
Van Elle Holdings PLCFull Year Results
  
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