Next Share News (NXT)

LONDON (Alliance News) - Stocks in London are seen opening higher on Wednesday, tracking gains from US and Asian markets, while Standard Chartered reported a rise in third quarter earnings and William Hill has agreed to buy a Swedish gambling company. IG futures indicate the FTSE 100 index is to open 64.75 points higher at 7,1.60. The blue chip index closed up 0.1% at 7,035.85 on Tuesday.In early UK company news, clothing and homewares retailer Next reported third-quarter earnings in line with management expectations.For the quarter ended October 27, total full price sales were up 2.0% and up 3.7% in the year to date. Within its Retail unit, however, sales fell 8.0% in the third quarter and are down 6.3% so far this year. Next also kept its annual sales and profit guidance unchanged, and expects total full price sales up 3% and annual pretax profit up 0.1% to GBP727 million in financial 2019.Standard Chartered said it saw a rise in profit for the third quarter of 2018, as growth fundamentals remained solid despite geopolitical uncertainties.For the three months to the end of September, the FTSE 100-listed emerging-markets focused bank reported a pretax profit of USD1.06 billion, up 37% from USD774 million the year before, on an operating income of USD3.72 billion, up 4.0% from USD3.59 billion.On an underlying basis, pretax profit was USD1.07 billion, up 31% from USD814 million.Bookmaker William Hill said it has made a SEK2.82 billion cash takeover offer to Swedish online gambling company Mr Green & Co in a bid to diversify its geographic operations. The offer, which has been agreed by the Mr Green board, represents a 49% premium to Mr Green's closing share price on Tuesday. Mr Green holds gambling licences in countries such as Denmark, Italy, Latvia, Malta and Ireland and expects to obtain Swedish licences by year-end. It offers gaming and casino products supported by a fast-growing sportsbook, William Hill said. "This proposed acquisition accelerates the diversification of William Hill - immediately making us a more digital and more international business. MRG will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries," Chief Executive Philip Bowcock.Smurfit Kappa said it acquired a paper mill and corrugated plant in Belgrade for EUR133 million and appointed Irial Finan as its incoming chairman to succeed incumbent Liam O'Mahony. Finan will assume the role next May at the company's annual general meeting. The Irish paper-based packaging products company said it has continued to deliver a very strong performance in the first nine months of the year. For the nine months to September-end, the company reported underlying revenue rose 7% and earnings before interest, taxes, depreciation and amortisation growth of 27% to EUR1.13 billion. "As we start the fourth quarter, we see continued demand growth and further corrugated price recovery. Smurfit Kappa continues to lead the industry, delivering innovative and value added packaging solutions for our customers. In a world increasingly focused on the environment, demand for sustainable packaging solutions will only add to the existing strong secular drivers of corrugated use," said Chief Executive Officer Tony Smurfit. In the US on Tuesday, Wall Street ended strongly higher, with the Dow Jones Industrial Average up 1.8%, S&P 500 and Nasdaq Composite up 1.6%.In US corporate news, social network Facebook on Tuesday reported a 9% increase in profit for the third quarter, driven largely by growth in ad revenues.Earnings for the quarter trumped estimates. However, revenue and monthly active users of the social networking giant fell short of Wall Street's expectations, as the company continues to be haunted by its controversy regarding the privacy of user data.Menlo Park, California-based Facebook's third-quarter profit rose to USD5.14 billion or USD1.76 per share from USD4.71 billion or USD1.59 per share last year. On average, 40 analysts polled by Thomson Reuters estimated earnings of USD1.47 per share for the quarter.Facebook closed Tuesday's trading in New York at USD146.22, up USD4.13 or 2.9%, on the Nasdaq. The stock gained another USD2.16 or 1.5% in after-hours trading.In the US earnings calendar Wednesday car maker General Motors and KFC fast food chain owner Yum! Brands report earnings before the NY market open.The Japanese Nikkei 225 index closed up 2.2%. In China, the Shanghai Composite closed up 1.4%, while the Hang Seng index in Hong Kong is up 1.1%.China's factory activity slowed in October to almost no growth, amid a trade war with the US, the National Bureau of Statistics said Wednesday.The manufacturing purchasing managers index came in at 50.2, compared to 50.8 in September. A figure above 50 indicates growth.October is the first full month after the US slapped tariffs on USD200 billion worth of Chinese imports, as the countries' trade war rages on. US duties now affect about half of all of China's exports to the world's largest economy.The Bank of Japan downgraded its inflation outlook for the current financial year for the third straight quarter, while deciding to keep its ultra-easing monetary policy to prop up the world's third-largest economy.The central bank expects Japan's consumer price index to rise 0.9% for the year through March 2019, revised down from the 1.1% increase estimated three months ago, it said in a statement released after a two-day monetary policy meeting.Sterling was marginally lower early Wednesday, quoted at USD1.2715, against USD1.2727 at the London equities close on Tuesday.In early economic news, UK shop prices declined in October following two months of mild inflation, data from the British Retail Consortium showed.The BRC - Nielsen shop price index decreased 0.2% year-on-year versus a 0.2% rise in September. Non-food deflation deepened to 1.1% in October from 0.9% a month ago. At the same time, food inflation slowed to 1.3% from 1.9% in both September and August.Also, consumer confidence in the UK fell in October despite accelerating wage growth and pre-budget reports about the imminent end of government austerity. Confidence dropped one point to minus 10 in GFK's long-running Consumer Confidence Index amid conditions normally "sufficient to boost consumer sentiment".Confidence in the general UK economic situation during the last 12 months remained at minus 28 this month - one point higher than this time last year - but expectations for the coming year decreased one point to minus 28, two points lower than last October.The economic events calendar has France inflation readings at 0800 GMT, Italy unemployment at 0900 GMT and eurozone inflation and unemployment figures at 1000 GMT.