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LONDON (Alliance News) - Shares have opened higher Tuesday following positive leads from US and Asian markets and amid a slew of FTSE 100 and FTSE 250 company trading updates.
St. James's Place has reported a surge in funds under management in the first quarter and is the fourth biggest blue-chip gainer.
Here is what you need to know at the UK market open:
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MARKETS
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FTSE 100: up 0.6% at 6,736.99
FTSE 250: up 0.5% at 15,905.59
AIM ALL-SHARE: up 0.2% at 814.33
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Hang Seng: up 0.6% at 22,275.02
Nikkei 225: closed for Showa Day holiday
DJIA: closed up 0.5% at 16,448.74
S&P 500: closed up 0.3% at 1,869.43
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GBP-USD: up at USD1.6838
EUR-USD: up at USD1.3870
GOLD: down at USD1,291.94 per ounce
OIL (Brent): up at USD108.42 a barrel
(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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Tuesday's Key Economic Events still to come
(all times British Summer Time)
09:00 EU M3 Money Supply and Private loans
09:00 Italy Retail Sales
09:30 UK Gross Domestic Product
09:30 UK Index of Services
10:00 Italy Business Confidence
n/a Italy 10-y Bond Auction
n/a UK 10-y Bond Auction
13:00 Germany Consumer Price Index
13:55 US Redbook index
14:00 US S&P/Case-Shiller Home Price Indices (YoY)
15:00 US Consumer Confidence
15:00 EU Economic Sentiment and Confidence, Business Climate
16:30 US 4-Week Bill Auction
16:30 US 52-week Bill auction
20:30 Canada BoC Governor Poloz Speech
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Edinburgh, Birmingham, Brighton, Leeds and Norwich have added jobs in financial and professional services as the UK emerged from recession, but London added the biggest gains, according to new research cited by The Financial Times. According to TheCityUK, the industry's lobby group, 100,000 jobs were created by the sector across the UK in the past two years, the FT reported. The sector could create another 100,000 jobs over the next six years if there is "balanced regulation" and "supportive policy" according to the lobby group, the FT said. But between 2010 and 2012 Bristol, Newcastle, Liverpool, Manchester and Sheffield saw declines.
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Nick Clegg has launched a GBP500 million scheme to give a boost to the use of electric and hybrid vehicles in the UK, The Independent reported Monday. The newspaper said that the Deputy Prime Minister wants to encourage drivers to make it "cheaper and more convenient" to drive vehicles that run on green alternatives to petrol or diesel.
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FRANCE APRIL CONSUMER CONFIDENCE 85 VS 88 MARCH - INSEE
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GFK: GERMANY CONSUMER MORALE SEEN AT 8.5 IN MAY VS APR 8.5
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US President Barack Obama will meet with American and Filipino troops on the second day of his visit to the Philippines. He will also view an electric vehicle whose production is being supported by a technology maker in the US and visit the American Cemetery in Manila before ending his visit. The Philippines is the last leg of Obama's four-nation Asian tour, part of the US president's effort to push America's pivot to the region. On Monday, the Philippines and the US signed a 10-year defence pact to allow greater American military presence amid rising regional tensions over territorial disputes in the South China Sea.
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South Korean President Park Geun Hye apologized for the government's handling of the sinking of a ferry that killed nearly 300 people. "I am sorry to the people and heavy hearted that many precious lives were lost," she was quoted as saying by Yonhap News Agency.
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The UN Security Council unanimously adopted the first stand-alone resolution on reforming the security sector in post-conflict regions Monday. In the document, the council stressed the importance of nationally-owned security sector reform to stabilize situations in the aftermath of conflicts. The council reaffirmed its commitment to integrating such reforms in the mandates of UN peacekeeping missions.
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BROKER RATING CHANGES
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HSBC CUTS ANTOFAGASTA TO 'NEUTRAL' ('OVERWEIGHT') - TARGET 860 (990) PENCE
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HSBC CUTS ANGLO AMERICAN TO 'NEUTRAL' ('OVERWEIGHT') - TARGET 1600 (1580) PENCE
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Jefferies Downgrades CRH To Hold From Buy - PT 1,700p
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JEFFERIES RAISES ASTRAZENECA PRICE TARGET TO 5000 (3700) PENCE - 'HOLD'
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TRADERS: MERRILL LYNCH ADDS ROYAL MAIL TO EUROPE 1 LIST
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UBS RAISES BG GROUP TO OIL 'MOST PREFERRED' LIST
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BERENBERG INITIATES CARNIVAL PLC WITH 'BUY' - TARGET 3,000 PENCE
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GOLDMAN RAISES AMERISUR RESOURCES TO BUY (NEUTRAL) - TARGET 77.50 (78.00) PENCE
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COMPANIES - FTSE 100
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BP Q1 Pretax Profit Down, USD5.27B Vs USD19.73B; Q1 Total Revenues Down, USD92.99B Vs USD107.21B; Announces Quarterly Dividend Of 9.75c, 8.3% Up; Remains Confident On Achieving Planned Targets In 2014; Q1 Production Down 8.5% To 2.13B BOE/D
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St. James's Place Q1 Funds Under Management GBP45.8B Vs GBP39.0B
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Glencore Increases Shareholding In Caracal Energy Inc
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Intertek PLC said Chief Financial Officer Lloyd Pitchford has resigned from the role and will leave the company on September 30. Intertek said Edward Leigh, group financial controller, will replace Pitchford as CFO and join Intertek's Board. Upon his departure in September, Pitchford will join Experian PLC as CFO.
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Royal Mail Director Jan Babiak Resigns; Sat On Nomination, Pensions And Remuneration Committees
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British Land Sells GBP78M Of Retail Parks In Dumbarton And Cwmbran
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Whitbread FY Pretax Profit GBP347.0M Vs GBP343.2M; Revenue GBP2.29B Vs GBP2.03B; Total Dividend 68.80p Vs 57.40p; Says It Is On Track For 2016 And 2018 Growth Milestones; Says First Two Months Of New Year Have Started Positively
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COMPANIES - FTSE 250
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Serco Group PLC said late Monday that after a more challenging 2014 so far, it is reviewing its performance and may have to revise its expectations lower. The outsourcing company said that, ahead of its upcoming annual general meeting on May 8 and the arrival of new Chief Executive Rupert Soames on May 1, it is reviewing its performance so far this year, noting that performance has been more challenging than previously expected.
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Redrow Reports Positive Sales, Increased Outlets By 12% From Last Year To 92; Q1 Reservations Up 17% At 1,280; Q1 Private Reservations Year-To-Date Up 16% At GBP289,000 Vs GBP249,000; Expects To Show Good Progress For Full-Year
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Carphone Warehouse Q4 Like-for-Like Revenue Up 2.3%; Says It Has Strong Operating Cash Generation In Line With Full Year Guidance; Reiterates Full Year Headline EPS Guidance Of 17.0p To 20.0p
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Segro Retains FY Expectations; CEO: We Are Making Progress Against Strategic Objectives, Seeing Continuing Improving Market Conditions
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TeleCity Says It Has Seen Good Start To 2014, Solid First Quarter; Re-affirms Full Year 2014 Currency Neutral Organic Growth Outlook
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UBM Says Q1 Was In Line With Expectations; Maintains FY Guidance
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Stagecoach Says Overall Profitability Of Group Remains Satisfactory; Says Prospects Remain Positive But Notes It Faces A Number Of Challenges To Growing Profit
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Essentra Acquires Kelvindale Products Pty; Says Kelvindale Acquisition Will Be Immediately Earnings Enhancing; Essentra Q1 Revenue Up 25%
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Foxtons Q1 Group Turnover Up 19.2% To GBP34.1M; Confident For H1 Results
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Bodycote Revenue GBP153M In 3-Mo To March-End; Revenue 2.8% Higher At Constant Exchange Rates; Revenue 2.2% Lower At Actual Exchange Rates
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COMPANIES - ALL-SHARE AND AIM
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Wolfson Microelectronics Agrees To Be Acquired By Cirrus Logic Inc; Acquisition Values Wolfson Microelectronics At GBP291M; Wolfson Microelectronics Shareholders To Receive 235p Per Share From Cirrus Logic
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Utilitywise Acquires Czech Republic's ICON Communication Centres For Up EUR2.28M In Cash, Shares; Utilitywise Says Will Extend Co-operation With TOTAL As Part Of Czech Acquisition
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Renew Holdings Acquires Clarke Telecom Ltd For GBP17M Cash; Says Clarke Telecom Acquisition Funded From Internal Cash, 4-Year GBP12M Loan From HSBC
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Petropavlovsk Says Refinancing Plan Well Advanced Ahead Of Debt And Convertible Bond Deadlines
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Walker Greenbank FY Pretax Profit Up 14.9% GBP7.33M Vs GBP6.38M; Sales Up 3.6% GBP78.4M Vs GBP75.7M; Dividend Up 26% To 1.57P Per Share Vs 1.25P Per Share
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Huntsworth FY Pretax Profit GBP17.1M Vs GBP18.9M; Revenue GBP171.7M Vs GBP173.0M; Total Dividend Maintained At 3.50p; Says Revenues Declined 2.5% In Q1 2014
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Christie Group Expects Full Year Results "Substantially" Ahead Of Market Forecasts
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Tuesday's Scheduled AGMs/EGMs
Essentra
Henderson Opportunities Trust
Murray International Trust
Foreign & Colonial Investment Trust
Shire
Bodycote
Premier Foods
Wolfson Microelectronics
Jardine Lloyd Thompson Group
JPMorgan US Smaller Companies Investment Trust
Servelec Group
SDL
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite
Copyright 2014 Alliance News Limited. All Rights Reserved.
1 Jun 2023 17:35
IN BRIEF: Murray International repays GBP60 million loan to RBS arm
Murray International Trust PLC - Edinburgh-based trust - Says it has repaid its maturing GBP60 million five-year fixed rate loan with The Royal Bank of Scotland International Ltd, London Branch. Following the repayment of this loan, the company's borrowings are expected to total GBP140 million, which represents a net gearing level of 8.5%, based on the latest net asset value of the company.
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