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London midday: Stocks erase losses as markets continue erratic moves

Thu, 14th May 2015 11:34

UK stocks erased losses by Thursday lunchtime on a quiet session for economic data, though concerns about Greece were limiting upside.Reports that Greek finance minister Yanis Varoufakis has called for the European Central Bank to delay Athens' debt repayments shook sentiment among investors.The FTSE 100 was trading just 0.05% lower at 6,946.44 by midday, having bounced off an earlier low of 6,884.63 as market continued their recent erratic behaviour following a volatile week."The movements in the bond market, now in the green this Thursday after haemorrhaging points in the last few days, seem to have cast a cloud over the Eurozone after falling German Bunds were pointed to as the catalyst for this week's declines seen across the bond board," said Spreadex analyst Connor Campbell.US jobless claims will be the only major economic data release of the day. Initial claims for unemployment benefits are forecast to have risen to 273,000 last week from 265,000 previously. Continuing claims are expected to rise to 2.233m from a 15-year low of 2.228m.Earnings mixed, ex-div stocks fallInvestment group 3i impressed with its annual results with a strong total return of 20% for the year.Property giant British Land gained after meeting forecasts with a small increase in profits in the year ended 31 March. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.ITV declined as, despite net advertising revenue for the first quarter being ahead of guidance, sentiment was dampened by reports of a lower second quarter. Furthermore, staff are holding a 24-hour strike over pay with a protest at the broadcaster's annual shareholder meeting.Alton Towers and Madame Tussauds owner Merlin Entertainments edged higher after a "satisfactory" start to 2015, boosted by favourable weather in Europe and helpful currency movements.Pharmaceutical outfit Hikma advanced as it reiterated its guidance for full-year revenue growth of "around 6% in constant currency".A number of blue-chip stocks were trading lower after going ex-dividend, including Aberdeen, Shell, Glaxosmithkline, Kingfisher and J Sainsbury.Market MoverstechMARK 3,231.13 -0.16%FTSE 100 6,946.44 -0.05%FTSE 250 17,891.11 +0.17%FTSE 100 - Risers3i Group (III) 525.50p +2.64%Mondi (MNDI) 1,441.00p +1.91%Hikma Pharmaceuticals (HIK) 2,068.00p +1.87%Centrica (CNA) 281.50p +1.77%easyJet (EZJ) 1,678.00p +1.51%Intertek Group (ITRK) 2,699.00p +1.24%Dixons Carphone (DC.) 465.70p +1.22%International Consolidated Airlines Group SA (CDI) (IAG) 562.50p +1.17%St James's Place (STJ) 935.50p +1.14%Experian (EXPN) 1,231.00p +1.07%FTSE 100 - FallersAberdeen Asset Management (ADN) 433.80p -2.21%Sainsbury (J) (SBRY) 269.40p -2.21%TUI AG Reg Shs (DI) (TUI) 1,181.00p -2.15%Anglo American (AAL) 1,108.00p -2.08%GlaxoSmithKline (GSK) 1,420.50p -2.07%Kingfisher (KGF) 354.00p -1.94%ITV (ITV) 255.40p -1.77%Taylor Wimpey (TW.) 179.60p -1.48%BHP Billiton (BLT) 1,550.00p -1.24%Royal Dutch Shell 'B' (RDSB) 2,056.50p -1.20%FTSE 250 - RisersTalkTalk Telecom Group (TALK) 381.20p +4.96%Crest Nicholson Holdings (CRST) 498.40p +3.85%Countrywide (CWD) 599.50p +3.45%Zoopla Property Group (WI) (ZPLA) 222.90p +3.19%Genus (GNS) 1,461.00p +2.81%Workspace Group (WKP) 870.00p +2.17%Ladbrokes (LAD) 117.60p +2.17%Card Factory (CARD) 342.60p +1.99%Dairy Crest Group (DCG) 496.90p +1.99%Ocado Group (OCDO) 394.90p +1.96%FTSE 250 - FallersRestaurant Group (RTN) 688.00p -4.38%Keller Group (KLR) 993.50p -3.45%Carillion (CLLN) 327.70p -3.30%Fidessa Group (FDSA) 2,298.00p -3.24%Telecity Group (TCY) 1,083.00p -2.87%SIG (SHI) 205.80p -2.56%Pace (PIC) 408.40p -2.18%Inmarsat (ISAT) 992.00p -2.17%Grafton Group Units (GFTU) 788.00p -2.11%Vesuvius (VSVS) 448.90p -1.51%
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5 Nov 2019 14:39

Merlin Entertainments Ceases Trading In London After Motion Takeover

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Merlin Entertainments Shares Suspended Ahead Of Takeover By Motion

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Merlin Entertainments Confirms Regulatory Approval Gained For Takeover

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7 Oct 2019 18:58

Moody's Assigns B1 Ratings To Merlin Entertainments Bidder Motion

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27 Sep 2019 09:54

Merlin Entertainments Inks Partnership Deal For Legoland Sichuan

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Immotion Revenue Rises As It Brings Virtual Reality To Dubai Aquarium

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3 Sep 2019 17:14

Merlin Entertainments Acquisition By Motion Gets Shareholder Approval

(Alliance News) - Merlin Entertainments PLC on Tuesday said its acquisition by Motion Acquisition Ltd has been approved by shareholders.Motion Acquisition is a newly formed company created

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27 Aug 2019 15:55

UK Shareholder Meetings Calendar - Next 7 Days

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1 Aug 2019 11:17

Merlin Entertainments First Half Profit Dips On Increased Expenses

(Alliance News) - Merlin Entertainments PLC on Thursday said its profit dropped by a quarter in the first half of 2019, whilst new site openings boosted revenue growth.The attractions, and

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25 Jul 2019 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

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4 Jul 2019 11:52

Moody's Places Merlin Ba2 Rating Under Review For Downgrade

(Alliance News) - Moody's Investors Service on Thursday said it placed under review for downgrade the Ba2 corporate family rating of Merlin Entertainments PLC.The outlook has also been

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1 Jul 2019 10:44

BROKER RATINGS SUMMARY: IAG Cut To Market-Perform And Carnival To Hold

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28 Jun 2019 17:03

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28 Jun 2019 12:17

LONDON MARKET MIDDAY: Stocks Up As G20 Starts; Boris Boosts Builders

(Alliance News) - London shares were mostly in the green at midday on Friday, led by UK homebuilders after Conservative Party leadership frontrunner Boris Johnson offered to reduce stamp duty in a

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