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LONDON MARKET OPEN: House Of Fraser Woes Continue For Sports Direct

Mon, 15th Jul 2019 08:41

(Alliance News) - Stock prices in London opened higher on Monday with heavyweight miners among the blue-chip risers, while among mid-caps Sports Direct fell sharply after delaying the release of its annual results. The FTSE 100 was up 19.07 points, or 0.2%, at 7,525.04. The FTSE 250 was up 67.12 points, or 0.3%, at 19,618.95. The AIM All-Share was up 1.21 points at 918.40.The Cboe UK 100 index was up 0.3% at 12,755.06. The Cboe UK 250 was up 0.1% at 17,446.62, and the Cboe UK Small Companies was flat at 11,158.61.In mainland Europe, the CAC 40 index in Paris and DAX 30 in Frankfurt were up 0.5% and 0.8% respectively. In China, the Shanghai Composite closed up 0.4%, while the Hang Seng index in Hong Kong is up 0.1%. Financial markets in Japan are closed for the Marine Day public holiday.On the London Stock Exchange, Antofagasta was the best large-cap performer, up 4.2% after the Pakistani government was ordered to pay damages of USD5.8 billion to Tethyan Copper, a joint venture between the Chilean copper miner and Canada's Barrick Gold.The award comes after arbitration claims were filed against Pakistan following the unlawful denial of a mining lease for the Reko Diq project in Pakistan in 2011.Fellow miners, Glencore, Rio Tinto, Anglo American were up 1.6%, 1.5% and 1.3%, respectively. In China, the second largest economy in the world posted its slowest economic growth in almost three decades during the second quarter.Data from the National Bureau of Statistics showed gross domestic product grew 6.2% in the second quarter on the year prior. This was lower than the 6.4% reported in the first quarter of 2019, and the 6.6% printed in 2018 as a whole."GDP growth moderated to 6.2% in the second quarter from 6.4% in the first quarter, with momentum in industrial value added, consumption and investment easing in the quarter," Oxford Economics Senior Economist Tommy Wu said. "We estimate real export growth fell, amid the flare-up of US-China trade tensions, over May-June.""But positively, monthly data suggest that domestic growth momentum picked up in June, providing some tentative evidence that the easing in macro policies is starting to filter through to the domestic economy," Wu added.At the other end of the FTSE 100, Micro Focus International was the worst performer, down 3.0%, extending losses after the software firm said last week its high-profile acquisition of Hewlett Packard's software business was still proving difficult to integrate into its existing operations. The stock is down 20% since last Tuesday.The Newbury-based software firm said on Monday that Chair Kevin Loosemore sold 650,000 shares at 1,777 pence each, in a deal worth around GBP11.6 million in a series of transactions last Wednesday and Thursday. In the FTSE 250, Sports Direct International was the worst performer, down 10% after the sportswear retailer said it will postpone its annual results, scheduled for Thursday, to late July or August, due to complications with its integration of department store chain House of Fraser. Sports Direct said there are some "key areas to conclude" which could further hurt the guidance given in December. The company now expects its audited results to be published between July 26 and August 23. In December, Sports Direct had warned its acquisition House of Fraser would dent its earnings for the full year. The Mike Ashley-founded firm had said turning around House of Fraser would present "significant challenges", and see its adjusted earnings before interest, taxes, depreciation and amortisation coming in "behind last year's results".The pound was quoted at USD1.2562 Monday, firm against USD1.2554 at the London equities close Friday.There are no major events remaining in the economic calendar on Monday after the release of the Chinese data.

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9 Jul 2019 16:38

Moody's Affirms Micro Focus Ratings But Upgrades Outlook To Positive

(Alliance News) - Moody's Investor Service no Tuesday affirmed Micro Focus International PLC's B1 ratings but upgraded the FTSE 100-listed software firm's outlook to positive from B1 a

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9 Jul 2019 08:50

LONDON MARKET OPEN: Investors Shrug Off Big Interim Loss For Ocado

(Alliance News) - Stocks in London opened lower on Tuesday, with investors awaiting Congressional testimony by US Federal Reserve Chair Jerome Powell, while investors turned a blind eye to a loss

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9 Jul 2019 07:45

LONDON MARKET PRE-OPEN: SUSE Sale Boosts Micro Focus Interim Profit

(Alliance News) - Stock prices in London are seen opening slightly lower on Tuesday, amid mixed trading in Asian equity markets, as investors look ahead to the upcoming testimony from US Federal a

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8 Jul 2019 08:46

LONDON MARKET OPEN: Imperial Brands Rises On Share Buyback Plans

(Alliance News) - Stock prices in London opened higher on Monday, with tobacco stocks among the blue chip risers after Imperial Brands launched a share buyback plan.The FTSE 100 a

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2 Jul 2019 15:58

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 3 July J SainsburyQ1 ResultsBraemar Shipping ServicesTrading TilesQ3 4

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16 May 2019 10:24

Micro Focus Maintains Annual Guidance As First-Half Trading In Line

LONDON (Alliance News) - Micro Focus International PLC on Thursday reiterated its annual guidance, saying that it still expects a mid-single-digit decline in revenue.The enterprise software

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16 May 2019 07:27

Micro Focus maintains interim guidance as it carries out return of value

(Sharecast News) - Micro Focus International updated the market on the six months ended 30 April on Thursday, saying that it expected to report interim results in line with the management guidance it gave in its preliminary results on February, on a constant currency basis.

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12 Apr 2019 11:38

Barclays downgrades Micro Focus to 'equal weight' following share price recovery

(Sharecast News) - Analysts at Barclays downgraded their recommendation on software and information technology business Micro Focus to 'equal weight' on Friday as part of a wider review of the European software and services industry's first quarter performance.

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12 Apr 2019 10:46

WINNERS & LOSERS SUMMARY: Spread Betting Firms Fall After Plus500 Woe

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Micro Focus

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12 Apr 2019 08:53

LONDON MARKET OPEN: Plus500 Slides After Quarterly Revenue Slumps

LONDON (Alliance News) - London stocks were broadly lower early on Friday, with Plus500 registering a sharp decline and Pets at Home also falling. The FTSE 100 at

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4 Apr 2019 17:06

LONDON MARKET CLOSE: Stocks Down As Investors Eye US-China Trade Talks

LONDON (Alliance News) - Stocks in London ended lower on Thursday, with ex-dividend stocks weighing on the FTSE 100 as markets await details of a US-China trade developments.The FTSE 100 index or

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4 Apr 2019 12:05

LONDON MARKET MIDDAY: FTSE 100 Lacklustre While Saga Drags On Mid-Caps

LONDON (Alliance News) - UK stocks continued to struggle on Thursday, with the FTSE 100 index having to contend with a number of ex-dividend stocks and a lack of anything new on US-China trade and

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4 Apr 2019 10:53

WINNERS & LOSERS SUMMARY: Saga Plunges On Profit Warning

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.---------FTSE 100 - LOSERS----------Direct down

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1 Apr 2019 08:48

LONDON MARKET OPEN: Stocks Up On China Data; easyJet Warns On Demand

LONDON (Alliance News) - Stock prices in London opened higher on Monday, with miners among the blue-chip risers following upbeat economic data from China, while easyJet fell after

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1 Apr 2019 07:57

TOP NEWS: Micro Focus Confirms Cash Return After SUSE Sale

LONDON (Alliance News) - Micro Focus International PLC is to return a further USD1.8 billion to shareholders, on top of the USD510 million worth of shares bought back since last August.The

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