Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRPS.L Share News (RPS)

  • There is currently no data for RPS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Britain's FTSE flat as sterling strength outweighs M&A and strong miners

Thu, 02nd Feb 2017 10:20

(ADVISORY - Follow European and UK stock markets in real timeon the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

* FTSE 100 down 0.1 percent

* Reckitt Benckiser takeover news buoys stock

* Aberdeen fund manager sinks on further outflows

LONDON, Feb 2 (Reuters) - Britain's blue-chip FTSE 100 index was flat on Thursday, as a strong sterling offsetgains by consumer products group Reckitt Benckiser related to a potential acquisition, as well as strong energy andmining sectors.

The index held steady as sterling reached a seven-week highafter lawmakers last night voted in favour of beginning theBrexit process. A strong sterling weighs on theindex heavy in foreign-earning companies.

Reckitt Benckiser was a top gainer after saying it was inadvanced talks to buy U.S. baby-food maker Mead Johnson. Its shares were last up 2.5 percent and werethrough their 30-day average daily volume in the first 40minutes of trade.

"Reckitt Benckiser makes it a brace of companies whose shareprices have defied traditional M&A reaction recently, rising onnews of spending big to acquire," Mike van Dulken, head ofresearch at Accendo Markets, said in a note.

Foodservice company Compass Group gained 2.6 percentafter maintaining its full-year outlook.

Miners Randgold Resources and Fresnillo also supported the index, up 1.5 to 2.1 percent respectively.

Shares in oil major Shell climbed 1.3 percentdespite profits missing expectations, as debt reduction effortsand a healthy dividend pleased investors.

"Upstream made a profit two quarters in a row, which willgive people encouragement, and cash flow was strong," added RussMould, investment director at AJ Bell.

Worldpay Group was the worst-performing blue-chipstock, down 3.8 percent after stakeholder Ship Global 2 &CYS.C.A. sold 214 million shares in the online payments company. The stock was through 10 days' worth of averagetrading volume as markets digested the sale.

Pharmaceuticals giant AstraZeneca was also a faller,down 1.5 percent after it said profit and revenue would declinethis year as cheap generic versions of its cholesterol drug hitsales.

Energy companies led the small-cap index higher,with oil exploration consultant RPS Group up 9.8 percent afterit increased its profit outlook. Its shares were headed fortheir best daily gains since Feb. 2015.

Liberum analysts cited President Trump's commitment toinfrastructure spending, and reinitiation of the Keystone XLpipeline project, as positive for RPS, on which it has a 'buy'rating.

Aberdeen Asset Management was the worst-performingstock in the mid-cap index, down 4.7 percent after itsfirst-quarter trading update showed outflows of 10.5 billionpounds, higher than expected.

This marks the 14th consecutive quarter of equity outflowsfor the firm, UBS analysts said. (Reporting by Helen Reid; Editing by Mark Potter)

More News
3 Mar 2016 08:19

RPS Group Profit Plunges On Oil And Gas Woes, But Dividend Hiked

Read more
25 Feb 2016 16:19

Earnings, Trading Statements Calendar - Week Ahead

Read more
27 Jan 2016 10:35

WINNERS & LOSERS SUMMARY: RBS Hit By Litany Of Provisions And Charges

Read more
27 Jan 2016 09:33

BROKER RATINGS SUMMARY: S&P Capital IQ And HSBC Upgrade easyJet

Read more
27 Jan 2016 09:28

RPS announces more cost cutting amid deteriorating market conditions

(ShareCast News) - RPS Group said its results for 2015 fell within the range of market expectations despite turmoil in the oil and gas sector. The energy consultancy said its oil and gas clients significantly reduced their investments last year and even after major cost reductions the contribution f

Read more
27 Jan 2016 08:34

RPS Group Says Results Meet View, But More Cost Cutting Coming

Read more
13 Nov 2015 09:49

BROKER RATINGS SUMMARY: Davy Expects Lloyds To Outperform

Read more
30 Oct 2015 07:50

RPS Group Makes Two Acquisitions To Cut Oil And Gas Sector Reliance

Read more
8 Oct 2015 15:05

Dividends Calendar - Week Ahead

Read more
9 Sep 2015 15:13

Dividends Calendar - Week Ahead

Read more
30 Jul 2015 15:34

RPS's first-half profit drops on oil and gas weakness, but revenue rises

(ShareCast News) - RPS Group posted a drop in first-half pre-tax profit following weakness in the oil and gas sector, although revenue rose as the consultancy company was able to offset the worst effects of the downturn thanks to the diverse range of its activities and geographies. Pre-tax profit fo

Read more
30 Jul 2015 08:40

BROKER RATINGS SUMMARY: Deutsche And Citi Go Opposite Ways On Indivior

Read more
30 Jul 2015 08:15

RPS Group Profit Falls Due To Oil And Gas Slowdown But Revenue Up

Read more
4 Jun 2015 07:23

LONDON MORNING BRIEFING: Horse Hill Companies Shares Suspended

Read more
3 Jun 2015 16:23

Inmarsat To Replace Aggreko In FTSE 100 Amid Host Of FTSE 250 Changes

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.