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London open: Stocks edge higher as corporate updates impress

Fri, 15th May 2015 08:54

UK stocks edged higher on Friday morning ahead of what is expected to be another quiet session, though trading volumes are expected to pick up slightly.The FTSE 100 was up 0.38% at 6,999.81 early on with corporate updates from a number of blue chips being warmly-received by investors.Markets across Europe had finished higher on Thursday, though volumes were lower than usual owing to bank holidays in both France and Germany."Trading volumes should pick up on Friday as people in Europe return to their desks [...], although they will probably remain below average as it's likely many will stay away today and turn it into a long weekend," said analyst Craig Erlam from Oanda.He said that a lack of economic data on Friday "won't help matters".The UK construction output data due at 09:30 is the only major release of the morning, with output forecast to have risen 4% in March after a 0.9% fall in February. The annual growth rate is expected to come in at 1.1% after a previous 1.3% decline.Friday afternoon will see the release of a host of economic data from the US with the Empire State manufacturing index, industrial production and University of Michigan consumer-confidence survey all due.Corporate updates impressCoca-Cola bottler Coca-Cola HBC gained after beating forecasts slightly with an unexpected increase in first-quarter sales. Net sales revenues totalled €1.353bn in the first three months of 2015, up just 1.7% on last year.Housebuilder Bovis Homes advanced after hiking its dividend plans following a strong start to the year. Bovis said it now planned to pay out 40p per share, up from the 35p it had previously indicated.Product testing and quality certification group Intertek rose after saying it traded in line with expectations in the first four months of 2015 with revenue growth of 3.3%, helped by a stronger pound.SABMiller pleased with a deal to buy London-based modern craft brewer Meantime Brewing Company for an unspecified sum as it looks to diversify from its mainstream beer brands.Real estate investment trusts were all performing well, including British Land, Land Securities, TR Property Investment Trust, Shaftesbury and Derwent London.Oil and gas stocks including BP, Shell and Premier Oil were lower as Brent crude fell 0.4% to $66.46 a barrel.Market MoverstechMARK 3,251.63 +0.33%FTSE 100 6,999.81 +0.38%FTSE 250 17,999.93 +0.39%FTSE 100 - RisersCoca-Cola HBC AG (CDI) (CCH) 1,452.00p +2.54%Kingfisher (KGF) 359.00p +1.82%Imperial Tobacco Group (IMT) 3,265.00p +1.68%ITV (ITV) 261.10p +1.48%Land Securities Group (LAND) 1,315.00p +1.47%British Land Company (BLND) 878.50p +1.38%St James's Place (STJ) 954.50p +1.38%United Utilities Group (UU.) 1,001.00p +1.32%Taylor Wimpey (TW.) 184.30p +1.26%3i Group (III) 534.00p +1.23%FTSE 100 - FallersBabcock International Group (BAB) 1,085.00p -1.18%Fresnillo (FRES) 755.00p -0.79%Weir Group (WEIR) 1,901.00p -0.73%Sainsbury (J) (SBRY) 267.40p -0.67%Royal Dutch Shell 'B' (RDSB) 2,044.50p -0.51%BP (BP.) 454.90p -0.42%Antofagasta (ANTO) 793.00p -0.31%Royal Dutch Shell 'A' (RDSA) 2,013.50p -0.25%Travis Perkins (TPK) 2,157.00p -0.23%BT Group (BT.A) 464.10p -0.19%FTSE 250 - RisersBwin.party Digital Entertainment (BPTY) 91.40p +2.24%Crest Nicholson Holdings (CRST) 504.50p +2.04%Shaftesbury (SHB) 877.50p +1.92%UDG Healthcare Public Limited Company (UDG) 545.00p +1.87%Greggs (GRG) 1,152.00p +1.86%TR Property Inv Trust (TRY) 314.00p +1.75%Inchcape (INCH) 888.00p +1.54%Henderson Group (HGG) 277.20p +1.54%Great Portland Estates (GPOR) 846.00p +1.50%BTG (BTG) 782.50p +1.49%FTSE 250 - FallersPremier Oil (PMO) 177.30p -3.11%Lonmin (LMI) 140.50p -2.23%Evraz (EVR) 202.10p -2.04%Hunting (HTG) 599.00p -1.88%Soco International (SIA) 193.20p -1.83%PayPoint (PAY) 877.00p -1.68%Drax Group (DRX) 418.50p -1.51%Tullow Oil (TLW) 420.80p -1.34%Wood Group (John) (WG.) 703.50p -1.26%Amec Foster Wheeler (AMFW) 900.50p -1.26%
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