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London close: Greek developments, central bank uncertainty keep UK stocks flat

Thu, 19th Feb 2015 16:33

It was another subdued finish for London's stocks on Thursday as the market continued to fluctuate at a 15-year high on the back of mixed newsflow about Greece and uncertainty regarding global monetary policy.The FTSE 100 finished the session down just 0.1% at 6,888.90. The index has stayed broadly flat since closing at 6,898.13 on Tuesday, its highest finish since reaching an all-time closing high of 6,930.20 in December 1999.GreeceGreece on Thursday submitted a request for a six-month loan extension, but on different terms from the existing bailout. The Greek proposal reportedly asked for flexibility on the "current arrangement" and more help for the country's banks.However, Germany rejected the request, saying that Greece did not present a "substantive proposal for a solution"."Greece is running out of time and money," said Berenberg analyst Holger Schmieding. "Having already come part of the way, Greece may well move further and accept the current programme as the basis for all further discussions at the Eurogroup meeting Friday," he said.The European Central Bank on Wednesday granted Greece's banks €3.3bn in funds under its emergency liquidity assistance programme, though this was less than Athens had requested.Central banks in focusMinutes from the January Federal Open Market Committee meeting released on Wednesday showed that "many" members said a premature rate increase could be detrimental for the recovery, while "several" believed a later move could lead to high inflation.The European Central Bank (ECB) also released minutes of its latest meeting, during which it decided to introduce a €1trn quantitative easing package. This was the first time the ECB has revealed details of its meeting, which revealed that some members had voted against the stimulus package, which is due to start next month.Minutes from the Bank of England's policy meeting on Wednesday showed that while the vote to keep rates unchanged was unanimous, policymakers had different opinions on the timing of a rate hike given the recent deterioration in inflation.CentricaShares in Centrica dropped 8.5% after the British Gas owner slashed its dividend and future payout policy, and warned that earnings for next year will be lower than expected too.Oil and gas stocks such as Tullow, BG Group, Shell and BP were also under the weather as Brent crude prices fell 3.5%.BAE Systems erased earlier losses after predicting marginal growth in underlying earnings in 2015, as it eased worries about defence spending in the UK and painted a positive outlook for the US market.High street sportswear retailer Sports Direct impressed after saying it is confident of increasing profits this year despite a significant slowdown in sales growth in its third quarter.SABMiller edged higher despite the resignation of its chief financial officer Jamie Wilson for personal reasons. He will exit the board immediately and will officially leave the group on 31 March 2015.Petra Diamonds jumped after raising its production guidance from 3.2m to 3.3m carats for the 12 months to 30 June.Drinks packaging group Rexam rose after agreeing a £5.4bn takeover by US rival Ball Corporation, a much larger higher valuation than had been expected by the market. Market MoverstechMARK 3,133.18 +0.05%FTSE 100 6,888.90 -0.13%FTSE 250 17,049.79 +0.28%FTSE 100 - RisersRolls-Royce Holdings (RR.) 962.00p +2.94%easyJet (EZJ) 1,785.00p +2.12%Dixons Carphone (DC.) 441.60p +1.99%Associated British Foods (ABF) 3,057.00p +1.97%National Grid (NG.) 891.10p +1.96%International Consolidated Airlines Group SA (CDI) (IAG) 564.00p +1.90%Barratt Developments (BDEV) 496.60p +1.74%Sky (SKY) 956.00p +1.70%Persimmon (PSN) 1,709.00p +1.67%WPP (WPP) 1,506.00p +1.62%FTSE 100 - FallersCentrica (CNA) 257.10p -8.54%Babcock International Group (BAB) 996.00p -5.68%Anglo American (AAL) 1,223.00p -2.86%Tullow Oil (TLW) 398.20p -2.66%BG Group (BG.) 951.50p -2.58%Royal Dutch Shell 'A' (RDSA) 2,109.00p -2.09%Royal Dutch Shell 'B' (RDSB) 2,198.00p -2.07%Glencore (GLEN) 283.55p -2.04%GlaxoSmithKline (GSK) 1,526.50p -1.86%Weir Group (WEIR) 1,862.00p -1.74%FTSE 250 - RisersPetra Diamonds Ltd.(DI) (PDL) 188.90p +7.88%Rexam (REX) 569.50p +6.05%Home Retail Group (HOME) 208.00p +3.79%Diploma (DPLM) 785.00p +3.63%Dignity (DTY) 1,960.00p +3.54%Euromoney Institutional Investor (ERM) 1,042.00p +3.17%Just Retirement Group (JRG) 144.10p +3.15%Galliford Try (GFRD) 1,464.00p +3.10%Vesuvius (VSVS) 478.00p +3.08%Entertainment One Limited (ETO) 296.20p +3.03%FTSE 250 - FallersPremier Oil (PMO) 175.00p -4.94%Hunting (HTG) 488.30p -4.63%Bank of Georgia Holdings (BGEO) 2,140.00p -4.51%Afren (AFR) 10.61p -4.41%Soco International (SIA) 289.20p -4.21%Catlin Group Ltd. (CGL) 677.00p -4.04%Drax Group (DRX) 403.10p -3.43%Cairn Energy (CNE) 197.70p -2.90%Ophir Energy (OPHR) 141.90p -2.87%Countrywide (CWD) 522.50p -2.79%
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By Greg Roumeliotis March 1 (Reuters) - Ardagh Group, the packaging conglomerate controlled by Irish billionaire Paul Coulson, is preparing a binding offer for the assets being divested by drinks can makers Ball Corp and Rexam Plc, according to people familiar with the matter. Ardagh

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18 Feb 2016 10:09

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18 Feb 2016 07:26

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18 Feb 2016 07:05

Rexam volumes up, earnings down ahead of Ball takeover

(ShareCast News) - Rexam was looking at a year of positive sales growth on Thursday, but fluctuations in currency and lower prices saw earnings head south in the 12 months to 31 December. The FTSE 100 beverage can manufacturer saw sales increase by 2% over the year, to £3.93bn (from £3.83bn). Its un

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15 Jan 2016 11:32

EU clears Ball/Rexam merger, subject to divestments

(ShareCast News) - The European Commission has approved the acquisition of London-listed drinks can maker Rexam by US rival Ball Corp, subject to the divestment of 12 plants in Europe. The regulator said its investigation showed that the deal, as notified, would have cut competition in the already c

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15 Jan 2016 11:25

Ball Corp Gets Approval In Europe For Rexam Acquisition

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15 Jan 2016 11:05

EU clears Ball, Rexam merger subject to 12 plant divestments

BRUSSELS, Jan 15 (Reuters) - The European Commission said on Friday that it had approved U.S. drinks can maker Ball Corp's planned 4.43 billion pound ($6.35 billion) purchase of Rexam Plc subject to the divestment of 12 plants. "The Commission's investigation showed that the transaction,

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29 Dec 2015 15:41

Ball Corp Gets Approval In Brazil For Rexam Acquisition

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10 Dec 2015 16:20

UPDATE 2-Ball set to win EU approval for $6.7 bln Rexam deal- sources

* Ball initially offered to sell 11 European plants * Company has fine-tined package of concessions * World's two largest beverage can makers to merge (Adds Ball comments, Ball share price, updates Rexam share price) By Foo Yun Chee BRUSSELS, Dec 10 (Reuters) - U.S. drin

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10 Dec 2015 11:00

EU regulators reportedly set to approve Rexam/Ball deal

(ShareCast News) - EU antitrust regulators are set to approve Ball Corp's bid for drinks can maker Rexam after it improved its concessions, according to reports. European competition regulators announced in July that they had opened an investigation into US-based Ball's bid for Rexam. The European

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10 Dec 2015 10:43

Eu antitrust regulators set to approve Ball, Rexam deal - sources

BRUSSELS, Dec 10 (Reuters) - EU antitrust regulators are set to approve Ball Corp's 4.43-billion-pounds ($6.7 billion) bid for Britain's Rexam Plc after the U.S. drinks can maker improved its concessions, two people familiar with the matter said on Thursday. Last month, Ball offered to sell

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25 Nov 2015 21:39

UPDATE 1-Ball offers EU to sell 11 plants for Rexam deal approval-sources

(Adds details on Goldman Sachs and the sale process) By Foo Yun Chee and Greg Roumeliotis BRUSSELS/NEW YORK, Nov 25 (Reuters) - U.S. drinks can maker Ball Corp is ready to sell 11 European plants to get EU antitrust regulators to approve its 4.43 billion pound ($6.69 billion) acquisit

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