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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.00 (0.00%)
Spread: 0.04 (0.077%)
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London open: Stocks rise after upbeat China data

Mon, 02nd Apr 2012 08:26

- Miners wanted after Chinese PMI reaches 11-month high- RBS to dish out dosh to preference shareholders- LSE acquisition of LCH.Clearnet passes milestoneUK stocks opened with decent gains on Monday morning as miners rose on the back of some better-than-expected manufacturing data from China. China's purchasing managers' index (PMI) for March increased from 51 to 53.1 it was announced yesterday, showing that growth in the manufacturing sector of the world's second-largest economy is accelerating. Consensus estimates were for a reading of 50.5 and the 53.1 figure represented an 11-month high, which is sure to ease concerns of a 'hard-landing' for the Chinese economy.Investors will still be digesting the increase to the Eurozone's rescue fund announced at the end of last week. The 17 finance ministers of the Eurozone, which form the so-called Eurogroup, agreed to boost the region's firewall to €800bn. Austrian Finance Minister Maria Fekter announced that the amount represents the €500bn ESM, €200bn in EFSF funds already assigned to Ireland, Greece and Portugal, €53bn in bilateral loans and €49bn from the original EFSM. MINERS PROVIDE A LIFTResource stocks were dominating the risers' list in the opening hour as the upbeat China data boosted hopes for demand in the metals industry. Kazakhmys, Fresnillo, Vedanta, Rio Tinto, BHP Billiton, Glencore Evraz, Xstrata and Anglo American opened with solid gains.Financials were heading the other way though with Lloyds, Standard Chartered, Aviva, Standard Life and HSBC among the heaviest fallers. State-owned Royal Bank of Scotland (RBS) was bucking the trend however, on reports that it is looking to resume dividend payments to holders of its preference shareholders to signal its progress on the road to financial stability. "Paying a dividend is good market behaviour and is an important signal to debt holders and equity holders," an RBS source told the Daily Telegraph. Airline peers IAG and easyJet were on the rise despite concerns about the impact of Air Passenger Duty (APD) after it was hiked yesterday. CEO's from the UK's major airlines have jointly warned of "an increase in APD of double the rate of inflation which will hit millions of hard working families in the UK as they book or fly away on their well-earned break".Drugs giant GlaxoSmithKline was wanted after it reported positive results from an initial study into its development of a drug for HIV treatment.Shareholders of real estate investment trust Land Securities were pleased after Robert Noel, previously Managing Director of the company's London Portfolio, took over from long-standing Francis Salway as Chief Executive.It's all-systems-go for the London Stock Exchange's agreed takeover of clearing house, LCH.Clearnet, as the FTSE 250 bourse operator confirmed it has received acceptances of its offer from holders representing more than half of Clearnet's shares. Shares edged higher early on.3SE, a joint venture owned by waste management group Shanks and utilities firm SSE, has signed a contract worth with Barnsley, Doncaster and Rotherham Councils for the treatment of black bag waste. The 25-year agreement is worth more than £750m, something that investors of both stocks seemed to be happy about, with shares rising in early trading.FTSE 100 - RisersEvraz (EVR) 383.50p +3.79%Fresnillo (FRES) 1,636.00p +2.38%Kazakhmys (KAZ) 927.00p +2.09%SABMiller (SAB) 2,558.00p +1.93%Glencore International (GLEN) 396.60p +1.85%Rio Tinto (RIO) 3,507.50p +1.78%IMI (IMI) 988.50p +1.65%ARM Holdings (ARM) 601.50p +1.60%Xstrata (XTA) 1,084.50p +1.54%BHP Billiton (BLT) 1,934.50p +1.42%FTSE 100 - FallersRandgold Resources Ltd. (RRS) 5,305.00p -1.21%Barclays (BARC) 233.20p -0.87%Shire Plc (SHP) 2,004.00p -0.79%Lloyds Banking Group (LLOY) 33.35p -0.76%Standard Chartered (STAN) 1,548.50p -0.74%HSBC Holdings (HSBA) 551.60p -0.58%Resolution Ltd. (RSL) 259.80p -0.57%ICAP (IAP) 390.70p -0.53%Capital Shopping Centres Group (CSCG) 330.00p -0.42%Aviva (AV.) 330.30p -0.36%FTSE 250 - RisersCookson Group (CKSN) 723.50p +4.70%Ruspetro (RPO) 224.00p +3.70%New World Resources A Shares (NWR) 440.00p +2.97%Ophir Energy (OPHR) 520.50p +2.56%Kenmare Resources (KMR) 51.35p +2.39%Centamin (DI) (CEY) 70.25p +2.18%Domino's Pizza UK & IRL (DOM) 440.70p +2.11%Avocet Mining (AVM) 187.80p +1.84%Imagination Technologies Group (IMG) 697.00p +1.83%Soco International (SIA) 301.20p +1.76%FTSE 250 - FallersCarpetright (CPR) 660.00p -3.72%FirstGroup (FGP) 229.50p -3.45%Misys (MSY) 347.70p -2.88%Kentz Corporation Ltd. (KENZ) 478.80p -2.29%Perform Group (PER) 303.60p -2.06%Aquarius Platinum Ltd. (AQP) 139.30p -1.90%Brewin Dolphin Holdings (BRW) 173.70p -1.86%Home Retail Group (HOME) 112.10p -1.67%Redrow (RDW) 127.10p -1.55%Fidelity China Special Situations (FCSS) 79.75p -1.30%BC
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23 Feb 2024 10:13

IN BRIEF: Lloyds launches GBP2 billion share buyback programme

Lloyds Banking Group PLC - Edinburgh-based financial services firm - Commences share buyback for up to GBP2 billion worth of ordinary shares. The buyback, conducted by Morgan Stanley & Co International PLC, will run until December 31. Lloyds says that the purpose of the programme is to reduce its ordinary share capital, and the company intends to cancel all repurchased shares.

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23 Feb 2024 09:19

LONDON BROKER RATINGS: Barclays raises Breedon but cuts Domino's Pizza

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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22 Feb 2024 16:26

London close: Stocks rise amid raft of solid earnings

(Sharecast News) - London's stock markets finished in positive territory on Thursday, bolstered by upbeat performances from US AI chipmaker Nvidia and engine manufacturer Rolls-Royce.

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22 Feb 2024 09:59

CORRECT: Lloyds profit rises but books GBP450 million probe provision

(Correcting sum of Lloyds Banking Group PLC's final dividend.)

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22 Feb 2024 08:24

TOP NEWS: Lloyds profit rises but books GBP450 million probe provision

(Alliance News) - Lloyds Banking Group PLC on Thursday reported an annual profit surge and announced a new share buyback, though it said it has booked a provision in connection to a UK watchdog probe on historic motor finance arrangements.

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22 Feb 2024 07:49

LONDON BRIEFING: Lloyds sets aside GBP450 million for UK motor probe

(Alliance News) - Stocks in London are set to higher on Thursday, as earnings from Nvidia, at the heart of an artificial intelligence boom, did not disappoint.

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22 Feb 2024 07:03

Lloyds FY profit soars, puts aside £450m for motor finance probe

(Sharecast News) - Lloyds Bank on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.

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21 Feb 2024 09:18

Thursday preview: Global PMIs, Lloyds in focus

(Sharecast News) - All eyes on Thursday will be on a raft of purchasing managers' surveys due out in the euro area, UK and US covering the month of January.

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20 Feb 2024 16:52

LONDON MARKET CLOSE: Pound boosted after BoE's Bailey talks rate cuts

(Alliance News) - Stock prices in London closed lower on Tuesday, whilst the pound bounced back, after the Bank of England's Andrew Bailey talked interest rate cuts.

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20 Feb 2024 11:57

LONDON MARKET MIDDAY: Banking stocks drag FTSE 100 into green

(Alliance News) - Stock prices in London were mixed at midday Tuesday, after a busy morning of corporate updates and earnings.

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20 Feb 2024 09:18

IN BRIEF: GCP Infrastructure enters into new revolving credit facility

GCP Infrastructure Investments Ltd - Jersey-based investment fund focused on infrastructure - Announces that it entered into a new revolving credit facility on Thursday. The RCF has a three-year term and has been agreed with Lloyds Bank PLC, Mizuho Bank Ltd, Allied Irish Bank and Clydesdale Bank PLC acting as lenders. GCP says it has reduced the total RCF commitments to GBP150 million from GBP190 million, in line with the company's capital policy as outlined in its 2023 annual report. In December, GCP adopted a policy realising around 15% of its portfolio, GBP150 million, to "rebalance sectors and reduce equity exposures, and to apply the funds towards a material reduction in the RCF", as well as to facilitate the return of at least GBP50 million to shareholders by the end of calendar 2024.

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20 Feb 2024 08:52

LONDON MARKET OPEN: Stocks slide; banks rise as Barclays outperforms

(Alliance News) - Stock prices in London opened in the red on Tuesday, as European markets failed to find upward momentum amid muted trading in Asia, and Monday's public holiday in the US.

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16 Feb 2024 14:59

London close: Stocks rise as UK retail sales rebound

(Sharecast News) - London's stock markets saw positive gains on Friday, buoyed by encouraging UK retail sales data and favourable earnings reports from NatWest.

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15 Feb 2024 14:42

UK earnings, trading statements calendar - next 7 days

Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
Bank of Cyprus Holdings PLCFull Year Results
MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Antofagasta PLCFull Year Results
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
Wednesday 21 February 
BAE Systems PLCFull Year Results
Conduit Holdings LtdFull Year Results
Glencore PLCFull Year Results
HSBC Holdings PLCFull Year Results
Rio Tinto PLCFull Year Results
Riverstone Credit Opportunities Income PLCFull Year Results
Tate & Lyle PLCTrading Statement
Thursday 22 February 
Anglo American PLCFull Year Results
Genus PLCHalf Year Results
Hargreaves Lansdown PLCHalf Year Results
Hays PLCHalf Year Results
Hikma Pharmaceuticals PLCFull Year Results
Indivior PLCFull Year Results
Jupiter Fund Management PLCFull Year Results
Lloyds Banking Group PLCFull Year Results
ME Group International PLCFull Year Results
Morgan Sindall Group PLCFull Year Results
Pantheon International PLCHalf Year Results
Rolls-Royce Holdings PLCFull Year Results
WPP PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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8 Feb 2024 13:50

Santander reportedly lodges complaint about Nationwide ad

(Sharecast News) - Santander UK has filed a formal complaint with Britain's advertising regulator over a Nationwide campaign which it claims "discredits and denigrates" the high street banking sector.

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