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Pin to quick picksMarstons Share News (MARS)

Share Price Information for Marstons (MARS)

London Stock Exchange
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Share Price: 32.85
Bid: 32.85
Ask: 33.05
Change: 2.50 (8.24%)
Spread: 0.20 (0.609%)
Open: 30.90
High: 33.80
Low: 30.65
Prev. Close: 30.35
MARS Live PriceLast checked at -

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LONDON MARKET CLOSE: FTSE 100 underperforms as post-Fed rally cools

Fri, 15th Dec 2023 16:51

(Alliance News) - London's FTSE 100 ended lower on Friday, with profit-taking and some hawkish words from a US policymaker keeping equities in check at the end of a largely positive week for stocks.

The FTSE 100 index gave back 72.62 points, 1.0%, at 7,576.36. It had surged more than 100 points on Thursday.

The FTSE 250 lost 47.99 points, 0.3%, at 19,208.97, though the AIM All-Share ended up 1.47 points, 0.2%, at 739.31.

For the week, the FTSE 100 rose 0.3%, the FTSE 250 added 2.7%, while the AIM All-Share climbed 2.2%.

The Cboe UK 100 ended down 1.0% at 756.32. The Cboe UK 250 lost 0.4% at 16,658.06, though the Cboe Small Companies added 1.2% at 14,297.15.

In European equities on Friday, the CAC 40 in Paris closed up 0.3%, while the DAX 40 in Frankfurt ended flat.

"After the euphoria of the Powell pivot party on Wednesday we got a wake-up call from New York Fed President John Williams when he pushed back on market expectations of a March rate cut saying it was premature to be even considering anything like that. Given the sharp move in bond markets since Wednesday it was perhaps felt necessary to pour a little cold water on the moves of the last 48 hours, with Williams sent out to say it was premature to be thinking in terms of rate cuts. That's not to say they wouldn't happen next year but to be pricing in between 5-6 rate cuts next year as markets appeared to be doing seems to be a case of getting a little carried away," CMC Markets analyst Michael Hewson commented.

The Fed left its benchmark interest rate unchanged, as expected on Wednesday, but signalled rate cuts of as much as 75 basis points in the coming year.

The decision from the Federal Open Market Committee extends a pause in monetary policy that has been in place since July, leaving the federal funds rate at a 22-year high of 5.25% to 5.5%.

But the latest quarterly dot plot showed that most officials expect rates to be in the range of 4.4% to 4.9% by the end of 2024.

A small majority of the Federal Open Market Committee anticipate at least three quarter-point cuts from current levels.

In New York, both the Dow Jones Industrial Average and the S&P 500 were up 0.1%, while the Nasdaq Composite climbed 0.5%.

Analysts at Tower Bridge Advisors commented: "Markets expect it in March although Fed officials don't universally agree. The question for investors is how much of the good news is already priced in. Right now, momentum firmly favours the bulls. That could change quickly once Christmas is over."

The pound was quoted at USD1.2693 at the time of the London equities close on Friday, lower compared to USD1.2762 on Thursday. The euro stood at USD1.0912, lower against USD1.0994. Against the yen, the dollar was trading at JPY141.75, higher compared to JPY141.60.

Shares in pharmaceutical firms struggled on Friday, putting some pressure on London's FTSE 100. AstraZeneca ended 2.7% lower, while GSK lost 2.9%.

Bloomberg on Thursday reported the likes of Astra and GSK have come under scrutiny from US Senator Elizabeth Warren.

The drugmakers have been accused of making sham patents to send prices higher and clip the wings of competition, the news agency reported.

Astra's Symbicort asthma treatment and GSK's Advair and Flovent pair of inhalers are among the products mentioned in a letter sent by Warren to the drugmakers.

Trainline shot up 11% as the threat from the UK government's Great British Railways offering subsided.

Trainline on Thursday noted the UK Department for Transport will no longer pursue creating a ticket retailing website and app, which would have presented competition for the FTSE 250 listing's eponymous platform.

The proposal for a Great British Railways app was first mooted in May 2021 as part of a white paper. GBR is a planned state-owned body that would oversee UK rail transport.

Shares in pub firm Marston's rose 5.3%, adding to Thursday's 6.6% stride. JPMorgan had lifted the stock to 'overweight' from 'neutral' on Thursday.

On AIM, Getech lost 27%.

The Leeds-based geo-energy and green hydrogen company said its client base, 85% of which is based outside of the UK, were showing a "growing level of caution" due to economic and geopolitical instability.

Getech said this has pushed a number of projects initially expected to begin before the end of 2023 into 2024.

As a result, Getech has warned that sales for the full year are not expected to surpass GBP4.4 million, down 14% from GBP5.1 million in 2022.

XLMedia shares slumped 12% after announcing that revenue for 2023 will fall shy.

The London-based global digital media company said that a "change in the revenue profile" of its North American activities had been caused by, among other things, the exit of XLMedia's major partner Barstool from the market.

The group's revenue for the full year is now expected in the range of USD50.0 to USD52.0 million, down from USD71.8 million in 2022. The group also predicted adjusted earnings before interest, tax, depreciation and amortisation of USD12 million to USD14 million, down from USD17.8 million in 2022.

Brent oil was quoted at USD76.34 a barrel late Friday in London, down from USD76.70 late Thursday. Gold was quoted at USD2,034.62 an ounce, down against USD2,039.11.

Monday's economic calendar has the latest Ifo business climate index reading from Germany at 0900 GMT. The week picks up speed with a rate decision from the Bank of Japan on Tuesday, UK inflation data on Wednesday, and a US gross domestic product reading on Thursday.

Monday's local corporate calendar has full-year results from ten-pin bowling firm Hollywood Bowl.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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11 Oct 2022 08:17

Marston's trading robustly as it keeps eye on costs

(Sharecast News) - Pub operator Marston's said in a trading update on Tuesday that total like-for-like sales for the financial year just ended were down 1% on the pre-pandemic 2019 comparator.

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11 Oct 2022 08:09

UPDATE: LONDON BRIEFING: Bank of England widens bond buying

(Alliance News) - The mood in global markets remained dark early Tuesday, with poor sessions in New York and Asia set to spill over to the European open.

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11 Oct 2022 07:54

LONDON BRIEFING: Bank of England widens bond buying; UK jobless down

(Alliance News) - The mood in global markets remained dark early Tuesday, with poor sessions in New York and Asia set to spill over to the European open.

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7 Oct 2022 12:13

LONDON MARKET MIDDAY: Investors hope nonfarms will force Fed to relent

(Alliance News) - London's FTSE 100 edged higher on Friday, despite simmering geopolitical tensions, US Federal Reserve hike worries and wider market trepidation ahead of the latest US jobs report later.

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29 Sep 2022 10:56

SMALL-CAP WINNERS & LOSERS: Avon wins helmet order; Foxtons falls

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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2 Sep 2022 13:00

Director dealings: Marston's finance chief buys £20k of shares

(Sharecast News) - Marston's shares were in positive territory on Friday afternoon, after its chief financial officer invested almost £20k in shares.

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30 Aug 2022 17:04

LONDON MARKET CLOSE: Stocks move into reverse as pessimism takes over

(Alliance News) - Stocks in London returned from the long weekend on Tuesday to close in the red despite spending most of the session in the green, as investors wiped out the morning's gains following selling pressure in the US.

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30 Aug 2022 16:40

UK pub chains urge government to act as energy prices hike

(Alliance News) - Pubs in the UK could be forced to close because of massive increases in energy prices, leading industry figures said on Tuesday as they urged the government to step in.

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30 Aug 2022 10:07

UK pubs warn of mass closures without state support on energy bills

LONDON, Aug 30 (Reuters) - Britain's pub and brewing industry on Tuesday called on the government to outline an urgent support package to prevent eye-watering increases in energy costs causing irreversible damage to the sector.

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28 Jul 2022 09:59

LONDON BROKER RATINGS: Bernstein ups Reckitt; Mitchells & Butlers cut

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

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27 Jul 2022 11:36

Marston's records strong drink sales but warns of rising energy costs

(Alliance News) - Marston's PLC on Wednesday said total retail sales in its franchise pubs returned to pre-pandemic levels, supported by robust drinks sales.

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27 Jul 2022 11:06

SMALL-CAP WINNERS & LOSERS: International Personal Finance ups payout

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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27 Jul 2022 10:06

Marston's warns on energy costs as solid trading continues

(Sharecast News) - Pub and hotel operator Marston's said in a trading update on Wednesday that total like-for-like sales for the 42 weeks ended 23 July were down 2% on the pre-Covid comparator in the 2019 financial year, as it warned of surging energy costs in the second half.

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20 Jul 2022 16:05

UK earnings, trading statements calendar - next 7 days

Thursday 21 July  
AJ Bell PLCQ3 Results
Anglo American PLCQ2 Production Results
Brewin Dolphin Holdings PLCTrading Statement
Britvic PLCQ3 Results
Close Brothers Group PLCTrading Statement
Diploma PLCQ3 Results
Dunelm Group PLCTrading Statement
DWF Group PLCFull Year Results
Euromoney Institutional Investor PLCQ3 Results
Frasers Group PLCTrading Statement
Fulham Shore PLCFull Year Results
Howden Joinery Group PLCHalf Year Results
IG Group Holdings PLCFull Year Results
Intermediate Capital Group PLCQ1 Results
Ocado Group PLCHalf Year Results
PensionBee Group PLCTrading Statement
Polymetal International PLCQ2 Production Results
Qinetiq Group PLCTrading Statement
Redcentric PLCFull Year Results
Seraphine Group PLCFull Year Results
SSE PLCQ1 Results
Workspace Group PLCQ1 Results
Friday 22 July  
Beazley PLCHalf Year Results
FRP Advisory Group PLCFull Year Results
Record PLCQ1 Results
Monday 25 July 
ECO Animal Health Group PLCFull Year Results
F&C Investment Trust PLCHalf Year Results
GlobalData PLCHalf Year Results
JTC PLCTrading Statement
Plant Health Care PLCTrading Statement
SThree PLCHalf Year Results
Vodafone Group PLCTrading Statement
XLMedia PLCTrading Statement
Tuesday 26 July 
Aberforth Smaller Companies Trust PLCHalf Year Results
Ascential PLCHalf Year Results
Bytes Technology Group PLCTrading Statement
Capital & Counties Properties PLCHalf Year Results
Cohort PLCFull Year Results
Compass Group PLCTrading Statement
Drax Group PLCHalf Year Results
easyJet PLCTrading Statement
Ergomed PLCTrading Statement
Franchise Brands PLCHalf Year Results
Games Workshop Group PLCFull Year Results
Gore Street Energy Storage Fund PLCFull Year Results
Greencore Group PLCQ3 Results
John Menzies PLCTrading Statement
Medica Group PLCTrading Statement
Mitie Group PLCTrading Statement
NewRiver REIT PLCTrading Statement
Playtech PLCTrading Statement
Reach PLCHalf Year Results
Ricardo PLCTrading Statement
Sabre Insurance Group PLCHalf Year Results
SME Credit Realisation Fund LtdFull Year Results
Trifast PLCFull Year Results
Tyman PLCHalf Year Results
Unilever PLCHalf Year Results
Vivo Energy PLCHalf Year Results
Wickes Group PLCTrading Statement
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Aston Martin Lagonda Global Holdings PLCHalf Year Results
BlackRock Energy & Resources Income Trust PLCHalf Year Results
Breedon Group PLCHalf Year Results
British American Tobacco PLCHalf Year Results
FirstGroup PLCTrading Statement
Fresnillo PLCQ2 Production Results
GSK PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Hiscox LtdTrading Statement
Ibstock PLCHalf Year Results
International Personal Finance PLCHalf Year Results
Lancashire Holdings LtdHalf Year Results
Lloyds Banking Group PLCHalf Year Results
Marston's PLCTrading Statement
Motorpoint Group PLCTrading Statement
musicMagpie PLCHalf Year Results
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Primary Health Properties PLCHalf Year Results
Quartix Technologies PLCHalf Year Results
Reckitt Benckiser Group PLCHalf Year Results
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Ted Baker PLCTrading Statement
Unite Group PLCHalf Year Results
Wizz Air Holdings PLCQ1 Results
Yourgene Health PLCFull Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
13 Jul 2022 17:11

FTSE 100 falls as UK's surprise growth fails to ease recession fears

July 13 (Reuters) - UK's blue-chip FTSE 100 fell on Wednesday after hotter-than-expected U.S. inflation data slammed global markets, while a surprise growth in Britain's economy failed to assuage recession worries.

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