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LONDON MARKET OPEN: FTSE 100 Moves Off Six-Month Low After Sell Off

Fri, 12th Oct 2018 08:48

LONDON (Alliance News) - Stocks in London opened higher on Friday, with the FTSE 100 rebounding from six-month lows, following a sell off in global equities which has dominated the week's trading.The FTSE 100 index was up 0.4%, or 26.59 points, at 7,033.52 at the open Friday. London's flagship stock index fell to an intraday low of 6,998.02 in late trade on Thursday, the first time the index slipped below the 7,000 mark since April, as a sell-off engulfed stock markets around the globe. The mid-cap FTSE 250 index was up 1.2%, or 227.27 points at 19,055.02. The AIM All-Share index was up 1.5% at 983.47.The Cboe UK 100 was up 0.5% at 11,944.16, the Cboe UK 250 was up 0.5% at 17,183.23, and the Cboe UK Small Companies was flat at 11,642.83.In mainland Europe, the CAC 40 in Paris was up 1.1% while the DAX 30 in Frankfurt was up 1.3%.On the London Stock Exchange, gold miners Randgold Resources and Fresnillo were up 2.6% and 2.2%, respectively, tracking spot gold prices higher.The precious metal was quoted at USD1,219.33 an ounce, up from USD1,215.80 at the London equities close Thursday. Deemed a safe-haven asset, gold often rises during times of market turmoil. DCC was up 3.0% after HSBC started coverage on the Irish distribution company with a Buy rating. Paddy Power Betfair was up 2.3% after Berenberg raised the bookmaker to Hold from Sell. In the FTSE 250, Man Group was up 4.5% after the hedge fund manager said its investment performance in the third quarter was "mixed" but continues to believe it is "well positioned" going forward.Man Group increased its closing funds under management in the three months ended September to USD114.1 billion from USD113.7 billion at the opening of the period.Man Group recorded USD400 million net inflows in the third quarter, excluding a previously announced USD2.2 billion infrastructure mandate redemption. Net inflows in the second quarter totalled USD3.5 billion. At the other end of the midcap index, Victrex was the worst performer, down 2.3% after Morgan Stanley downgraded the speciality chemicals company to Underweight from Equal Weight.The pound was up against the dollar quoted at USD1.3239 early Friday, up from USD1.3192 at the London equities close Thursday,In domestic political news, UK Prime Minister Theresa May has briefed key ministers on the Brexit negotiations amid speculation the government is moving closer to a deal with Brussels.Following the meeting of the "inner Cabinet" in Downing Street on Thursday, Chief Whip Julian Smith insisted ministers were united behind the May's strategy.However, Westminster was rife with speculation of possible resignations should May surrender too much ground to the EU in her attempt to win an agreement.The euro was firm quoted at USD1.1596, from USD1.1554 at the European equities close Thursday.In economic news from the continent, Germany's consumer price inflation accelerated to its highest level in nearly seven years in September, final data from Destatis revealed.Consumer prices advanced 2.3% on year, the fastest since November 2011, when inflation was 2.4%. Prices had advanced only 2% in August.The harmonized index of consumer prices, or HICP, climbed 2.2% year-on-year in September, as estimated, after a 1.9% increase in the previous month. This was the fastest in four months.In the economic events calendar there is eurozone industrial production at 1000 BST.In the US on Thursday, Wall Street ended sharply lower, with the Dow Jones Industrial Average and S&P 500 down 2.1% and Nasdaq Composite down 1.3%.In the US corporate calendar on Friday banks Citigroup, JPMorgan and Wells Fargo will report earnings before the market open in New York.The Japanese Nikkei 225 index closed up 0.5% on Friday. In China, the Shanghai Composite closed up 0.9%, while the Hang Seng index in Hong Kong is up 2.1%.China's foreign trade grew robustly in September, despite the escalating trade war with the US, official customs data showed.China's exports, in dollar amounts, soared 15% in September compared to the same period last year, reaching USD226.7 billion. Meanwhile, imports jumped 14% year-on-year to USD195 billion.China's strong domestic demand continues to drive foreign trade, despite its souring relationship with the US. Companies are also believed to be rushing to fill orders before the situation further deteriorates.
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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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