Last checked at 
(Alliance News) - Gambling software firm Playtech on Friday warned its adjusted earnings before interest, tax, depreciation and amortisation will be "a little below consensus" in 2019.
The company, which provides betting terminals for the likes of Labrokes and Paddy Power, said: "Following a positive start to the second half, trading conditions in TradeTech have been highly challenging during September and October."
However, Playtech said trading in its Core B2B Gambling and Snaitech arms "continues to exceed management expectations, while trading in Asia has remained stable". Revenue in Regulated B2B Gambling was up 12% on a year before in the four months from July to October.
The FTSE 250 stock was down 6.6% early Friday.
Here is what you need to know at the London market open:
----------
MARKETS
----------
FTSE 100: up 0.5% at 7,273.12
----------
Hang Seng: up 0.3% at 26,547.38
Nikkei 225: closed up 0.3% at 23,112.88
DJIA: closed down 54.80 points, 0.2%, at 27,766.29
S&P 500: closed down 4.92 points, 0.2%, at 3,103.54
----------
GBP: unchanged at USD1.2916 (USD1.2915)
EUR: unchanged at USD1.1064 (USD1.1066)
Gold: soft at USD1,467.00 per ounce (USD1,468.59)
Oil (Brent): flat at USD63.72 a barrel (USD63.60)
(changes since previous London equities close)
----------
ECONOMICS AND GENERAL
----------
Friday's Key Economic Events still to come
1100 GMT Ireland wholesale price index
0930 CET Germany flash purchasing managers' index
1000 CET EU eurozone flash PMI
0945 EST US flash manufacturing and services PMI
1000 EST US University of Michigan survey of consumers
1100 EST US Fed Kansas City survey of tenth district manufacturing
----------
The German economy grew slightly in the third quarter, Statistisches Bundesamt Deutschland said Friday, confirming initial estimates. The federal statistics office said the gross domestic product - price, seasonally and calendar-adjusted - rose 0.1% in the three months to September 30 on a quarterly basis, compared to a contraction in the second quarter of 0.2%. Year-on-year, price-adjusted GDP grew 1.0%. This confirms Germany was able to stave off a recession in the third quarter. If Germany's economy had shrunk again in the third quarter, the country would have entered a technical recession. The quarter-on-quarter comparison shows that positive contributions in the quarter mainly came from household and government consumption, Destatis said. Household final consumption edged 0.4% higher on the quarter and government consumption rose 0.8%.
----------
Billionaire Michael Bloomberg has filed paperwork with the Federal Election Commission, a necessary step if he wants to run for US president next year. The former mayor of New York City has not yet formally announced he is running, but he has taken some steps that cover procedural necessities should he choose to compete. The latest is a statement of candidacy by his campaign. The centre-left Democrats have held five debates in their primary race, with the Iowa caucus due in January, which would be the first election for party nominee. Bloomberg has not taken part in any debate.
----------
BROKER RATING CHANGES
----------
HSBC CUTS BERKELEY GROUP TO 'HOLD' ('BUY') - TARGET 4540 PENCE
----------
JPMORGAN CUTS AVIVA TO 'NEUTRAL' ('OVERWEIGHT') - TARGET 498 PENCE
----------
CITIGROUP CUTS TULLOW OIL TO 'NEUTRAL' ('BUY') - TARGET 165 (285) PENCE
----------
COMPANIES - FTSE 100
----------
Property developer Land Securities said Mark Allen will join as chief executive after leaving his role as CEO of St Modwen Properties in May next year. Allen also formerly was the CEO of student accommodation provider Unite Group between 2006 and 2016, Landsec noted. He is to join the FTSE 100 firm "no later than June 1, 2020", Landsec added. St Modwen said it was "disappointed" to lose Allen but has begun the process to replace him.
----------
Also making a key executive change was real estate firm Rightmove, naming Andrew Fisher as non-executive chair with effect on January 1. He is currently a non-executive director at retailer Marks & Spencer and insurance comparison site Moneysupermarket.com, and was formerly executive chair at music recognition mobile app Shazam.
----------
COMPANIES - FTSE 250
----------
Issuing a full-year earnings warning was mid-cap peer Coats Group. On the back of a "slower sales performance", the industrial threads maker is now guiding for adjusted operating profit between USD196 million and USD201 million. Adjusted operating profit in 2018 came in at USD195 million.
----------
COMPANIES - OTHER MAIN MARKET AND AIM
----------
Tharisa said it will be reporting a double-digit decline in its earnings in its most recently ended financial year due to reduced production volumes. The Cyprus-headquartered resource company said it now expects to report earnings per share and headline EPS for the twelve months ended September 30 at 4 US cents, representing a decrease of 79% compared to EPS and headline EPS of 19 cents delivered a year prior. Although the company reported operational improvements in the second half of the year, it did not attain its production guidance for the year. Tharisa explained that a pit redesign undertaken throughout the year hurt its overall volumes, with overall platinum group metals production down 8.3% and a reduction of 11.0% in chrome concentrate output.
----------
Friday's Shareholder Meetings
BBA Aviation (re share consolidation)
Charles Taylor (re acquisition by Jewel Bidco)
MC Mining
----------
By Tom Waite; thomaslwaite@alliancenews.com
London Briefing is available to subscribers as an email newsletter. Contact info@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
