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LONDON MARKET MIDDAY: FTSE 100 Led Higher By NMC, Airlines And Miners

Mon, 22nd Oct 2018 11:59

LONDON (Alliance News) - The FTSE 100 went from strength to strength on Monday, gains accelerating as the morning session progressed, having started well following strong trading in Asia overnight.NMC Health was the top performer in London's blue-chip index at midday, with airlines and miners also rising."Monday has got off to a relatively uneventful start, by recent standards, with the same underlying risks continuing to dominate as markets gradually pare some of the substantial losses of the last few weeks," said Oanda senior market analyst Craig Erlam.He continued: "As the week progresses things get much more interesting, with the Bank of Canada and ECB announcing rate decisions on Wednesday and Thursday, respectively, US GDP being released on Friday, and 160 S&P 500 companies reporting on the third quarter. Monday may well just be the calm before the storm."The FTSE 100 was up 0.7%, or 46.65 points, at 7,096.45. The FTSE 250 was up 0.4%, or 68.75 points at 18,864.50, and the AIM All-Share up 0.1% at 1,000.22.The Cboe UK 100 was up 0.6% at 12,042.12, while the Cboe UK 250 was up 0.3% at 17,082.37 and the Cboe UK Small Companies was flat at 11,681.86.In mainland Europe, the CAC 40 in Paris and the DAX 30 in Frankfurt were up 0.2% and 0.5% respectively.As stocks in China - the world's largest steel producer - jumped 4.1% overnight, London's FTSE 100-listed commodity-exposed stocks were rising on Monday. Antofagasta was up 2.2%, Glencore up 2.1% and Anglo American 2.0% higher.On Wall Street, stocks in the US are pointed towards a higher open on Monday. The Dow Jones is called up 0.4%, while the S&P 500 is seen 0.2% higher and the Nasdaq set to gain 0.5%.Over the weekend, President Donald Trump said he will pull the US from the Intermediate-Range Nuclear Forces Treaty, claiming Russia has violated the agreement.The 1987 pact, which helps protect the security of the US and its allies in Europe and the Far East, prohibits the US and Russia from possessing, producing or test-flying a ground-launched cruise missile with a range of 300 to 3,400 miles."Russia has violated the agreement. They have been violating it for many years," President Trump said after a rally in Elko, Nevada.China - currently wrapped up in a trade war with the US - criticised the move by Trump, saying the treaty has played an "important role" in easing international relations.In a thin economic calendar on Monday, the Chicago Fed National Activity index is due at 1330 BST.With the US third-quarter earnings season underway, results are due from oilfield services provider Halliburton, personal care firm Kimberly-Clark and toy maker Hasbro all before the market opens.In London, NMC Health was sat atop the FTSE 100 index, up 7.9% after raising its annual revenue and earnings guidance.The United Arab Emirates-focused private healthcare company raised its 2018 revenue growth expectations to 24% from 22%. Earnings before interest, taxes, depreciation and amortisation guidance was lifted to USD480 million from USD465 million.In 2017, the FTSE 100-listed company recorded revenue of USD1.60 billion and Ebitda of USD353.4 million. The guidance suggests revenue of GBP1.98 billion for 2018."This impressive performance contrasts sharply with the difficulties faced by rival Mediclinic, which has been having problems with the more mature Swiss market where it has a significant footprint," said Russ Mould, investment director at AJ Bell.Mediclinic International last week gave a soft trading update, driven by weakness in its Swiss operations, which drove the stock down 21% last week. Bouncing back slightly on Monday, Mediclinic was up 1.8% at midday.At the bottom of the blue-chips was GVC Holdings, down 2.6%, with peer Paddy Power Betfair down 1.7%. In the FTSE 250, gambling peer William Hill was down 2.5%.UK Chancellor Philip Hammond has prepared plans for next week's budget to increase the remote gaming duty paid by overseas operators who offer online casino games, the FT said citing government aides. The chancellor is expected to lift the remote gaming duty from the current level of 15% of "gross gambling yield" to between 20% to 25%, the FT said.B&M European Value Retail was up 5.9%, leading the FTSE 250 after announcing after the market close on Friday it has acquired discount retailer Paminvest. Paminvest operates a chain of 95 French stores trading under the name Babou.The acquisition was made by B&M subsidiary EV Retail, and the total enterprise value of the deal was EUR91.2 million, including B&M's refinancing of Babou's debt. Man Group gained 4.9% after UBS lifted its rating on the investment manager to Buy from Neutral.Also benefiting from a UBS rating update was FTSE 100-listed Rightmove, up 3.7% after being double-upgraded to Buy from Sell.Back in the FTSE 250, ConvaTec was 2.4% lower after HSBC cut the stock to Hold from Buy.Last week, the medical technology firm issued a profit warning and said Chief Executive Paul Moraviec has stepped down from his role.Elsewhere on the Main Market, Ryanair gained 4.8% on Monday as investors breathed "a sigh of relief" after the budget airline avoided a second guidance downgrade in three weeks."The key takeaway from Ryanair's results is that life doesn't seem to be getting worse. A decline in profit isn't a surprise given it had already laid the foundations for a bad set of numbers in a previous trading update. Instead, the market is breathing a sigh of relief that full-year earnings guidance hasn't had to be downgraded again," said AJ Bell's Mould.The Irish budget airline on Monday said pretax profit for the six months ended September 30 declined 13% to EUR1.26 billion from EUR1.45 billion reported for the same period a year earlier, despite revenue improving by 8.1% to EUR4.79 billion from EUR4.43 billion.Ryanair, exactly three weeks ago, lowered its profit guidance for its current financial year due to strikes, reduced traffic and higher oil prices.Profit guidance for the year to the end of March 31, 2019, was lowered to a range of EUR1.10 billion to EUR1.20 billion, from EUR1.25 billion to EUR1.35 billion. This guidance was maintained on Monday.Other airlines were benefiting from Ryanair's update, with easyJet up 3.5% and International Consolidated Airlines up 1.8% and Wizz Air up 2.9%.
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10 Aug 2018 16:59

LONDON MARKET CLOSE: Trade Fears Sink Stocks, Solid GDP Partly Offsets

LONDON (Alliance News) - Stocks in London closed lower Friday following global peers amid rising global tensions, though the impact in the UK was softened by generally upbeat GDP growth figures. The

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8 Aug 2018 17:09

LONDON MARKET CLOSE: FTSE Defies Trade Woes To Outshine European Peers

LONDON (Alliance News) - Stocks ended higher on Wednesday amid weakness in the pound, with London's flagship index outperforming European counterparts as trade war fears plagued financial markets

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8 Aug 2018 12:12

LONDON MARKET MIDDAY: FTSE 100 Up As No-Deal Brexit Fears Sinks Pound

LONDON (Alliance News) - Stocks in London were higher at midday on Wednesday with the FTSE 100 given a boost by the weak pound, which continued to sink over "No-deal" Brexit concerns.The up

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8 Aug 2018 11:17

EXTRA: Paddy Power Progresses Buyback But Lowers Annual Forecasts

LONDON (Alliance News) - Paddy Power Betfair PLC on Wednesday said the second tranche of its share buyback is to commence shortly, as it reported profit growth in the first half of the bookmaker a

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8 Aug 2018 10:56

WINNERS & LOSERS SUMMARY: Hill & Smith Sinks As Interim Profit Drops

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

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8 Aug 2018 08:44

TOP NEWS: Paddy Power Cuts Earnings Guidance As Interim Profit Rises

LONDON (Alliance News) - Paddy Power Betfair PLC on Wednesday said its profit grew slightly in the first half of 2018, but the bookmaker lowered its earnings expectations due to uncertainty over a

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8 Aug 2018 08:39

LONDON MARKET OPEN: Stocks Mixed As Paddy Power, Glencore Fall

LONDON (Alliance News) - Stock prices in London were mixed early on Wednesday, with Paddy Power and Glencore dragging the large cap index while Hill &

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8 Aug 2018 07:50

LONDON MARKET PRE-OPEN: Stocks Called Lower, Glencore Earnings Surge

LONDON (Alliance News) - Stock prices in London are called for a lower open on Wednesday, as miner Glencore reported a record interim earnings performance, as did newly-spun out wealth manager the

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8 Aug 2018 07:15

World Cup helps Paddy Power Betfair H1 to small rise

(Sharecast News) - A flurry of betting before the football World Cup in the second quarter increased interim pre-tax profits at Paddy Power Betfair by 4% to £106m as revenue rose 5% to £867m.

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3 Aug 2018 08:44

Paddy Power Betfair's FanDuel inks deal with Boyd Gaming

(Sharecast News) - Paddy Power Betfair announced on Friday that its subsidiary, FanDuel Group, has entered into an agreement with Boyd Gaming to co-operate in the US sport betting and online casino markets.

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3 Aug 2018 07:40

LONDON MARKET PRE-OPEN: RBS To Resume Payout For First Time Since 2008

LONDON (Alliance News) - Stock prices in London were seen opening higher, rebounding from sharp losses on Thursday, as Royal Bank of Scotland said it will pay its first dividend out

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1 Aug 2018 16:11

UK Earnings, Trading Statements Calendar - Next 7 Days

Thursday 2 August ConvatecHalf Year ResultsRolls-Royce HoldingsHalf Year Year Year Year 3

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2 Jul 2018 18:23

HSBC Rises Holding In Paddy Power To 5.4% From Below Notifiable Level (ALLISS)

LONDON (Alliance News) - Paddy Power Betfair PLC on Monday said HSBC Bank PLC upped holding in the FTSE 100-listed gambling firm.After a transaction on Tuesday last week, the bank increased

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15 Jun 2018 18:11

DIRECTOR DEALINGS: Soon-To-Join Bank Of Ireland Chairman Buys Stock

LONDON (Alliance News) - Bank of Ireland Group PLC said incoming Chairman Patrick Kennedy bought EUR202,350 worth of shares in the company on Friday.Kennedy bought 30,000 shares at a price

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24 May 2018 17:36

LONDON MARKET CLOSE: FTSE 100 Closes Lower After Data Boosts Pound

LONDON (Alliance News) - Stocks in London closed lower Thursday after the pound rose following the announcement that UK retail sales rebounded in April with a 1.6% rise.The FTSE 100 index - with a of

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