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London pre-open: Stocks seen lower as attention shifts to Fed

Wed, 18th May 2016 07:33

(ShareCast News) - London stocks were expected open lower on Wednesday amid rising expectations the Federal Reserve will hike interest rates in June. The FTSE 100 was seen opening down 28 points from Tuesday's close at 6,140.Following on from a batch of upbeat US data and hawkish comments from a number of Fed officials, investors were growing concerned that the US central bank might lift rates as early as next month.On the data front, the UK unemployment rate, claimant count and average earnings are due at 0930 BST.In the US, the latest Federal Open Market Committee minutes are at 1900 BST."Given that we saw the Fed remove its reference to global financial developments as an ongoing risk at the last meeting, the latest minutes released later today could well give an important insight into the Fed's deliberations when it met a few weeks ago, though events have moved on a touch since then given recent weak Chinese data," said CMC Markets' Michael Hewson."Since that meeting, at the end of April, recent Chinese economic data has turned lower, after a decent pick up in March, while we've heard all manner of doomsday scenarios played out in the media with respect to the consequences of a vote to leave the EU in the forthcoming 'Brexit' vote, which takes place eight days after the Fed meeting."London Stock Exchange provided an update on its merger with Deutsche Börse, informing that shareholder documents will be published in June and shareholder meetings required in connection with the merger will take place in July.The LSE added that the end of the acceptance period for the securities exchange offer to Deutsche Börse shareholders will be in July.Megabrewer SABMiller reported a 10% drop in revenue for the year in its preliminary results on Wednesday to $19.8bn, though the company did claim 7% organic revenue growth at constant currencies.The FTSE 100 firm, currently the subject of an acquisition and combination with AB InBev, posted group net producer revenue of $24.1bn, an 8% drop, or a 5% organic rise at constant currencies.SABMiller's total beverage volumes grew 2% during the year, with lager volumes up 1% and soft drinks volumes up 6%.Reported EBITA dropped 9% to $5.8bn and grew 8% organically and at constant currencies, with adjusted earnings per share down 6% on a reported basis and up 12% on an organic basis to 224.1 cents.The company declared a final dividend of 93.75 cents, taking the full year dividend per share to 122 cents, up 8% on the prior year.Full year profits from Burberry fell 10%, at the bottom of analysts' range of estimates, as the fashion retailer announced £100m of cost savings to help it cope with the "challenging" environment.Chief creative and chief executive officer Christopher Bailey said: "We continue to see significant opportunities ahead of us and have put ambitious plans in place to increase future revenue, enhance productivity and create a more efficient organisation."

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13 Dec 2016 10:51

UPDATE 3-Asahi to buy East European beer brands from AB InBev for $7.8 bln

* Asahi to buy brands for $7.8 billion * Expects to close deal in first half of 2017 * Asahi shares close down 4.6 pct on funding questions (Adds valuation estimates, background) By Thomas Wilson and Martinne Geller TOKYO/LONDON, Dec 13 (Reuters) - Asahi Group Holdings

5 Oct 2016 05:21

PRESS: Asahi To Make Bid For SABMiller Eastern Europe Units

4 Oct 2016 11:47

SABMiller Says UK Court Sanctions Scheme For AB InBev Merger

28 Sep 2016 11:57

Dissident SABMiller shareholder Aberdeen disappointed with vote

LONDON, Sept 28 (Reuters) - Aberdeen Asset Management , an SABMiller shareholder that opposed the brewer's takeover by Anheuser Busch InBev, said it was "obviously disappointed by not surprised by" the resounding approval shareholders of SABMiller gave the deal. SAB shareholders overwhelmin

28 Sep 2016 10:20

UPDATE 1-SABMiller shareholders comfortably back AB InBev takeover offer

(Updates after SABMiller shareholder vote) * Deal seen closing on Oct 10 * AB InBev to retain name after takeover * Deal adds Africa, Latin American markets to AB InBev LONDON, Sept 28 (Reuters) - SABMiller shareholders backed the brewer's $100-billion-plus takeover by riv

28 Sep 2016 10:18

AB Inbev and SABMiller shareholders approve takeover deal

(ShareCast News) - SABMiller shareholders on Wednesday approved a $100bn takeover offer by Anheuser-Busch InBev. More than 95% of shareholders at SABMiller gave the green light to the £45 per share deal after stakeholders at Anheuser-Busch InBev also voted in favour of the takeover. SABMiller's tw

28 Sep 2016 09:42

SABMiller shareholders approve AB InBev takeover

LONDON, Sept 28 (Reuters) - SABMiller shareholders approved the brewer's takeover by rival Anheuser-Busch InBev on Wednesday, paving the way for one of the biggest proposed mergers in history. The 79 billion pound ($103 billion) deal was approved by more than 95 percent of SAB shareholders

28 Sep 2016 08:53

AB InBev to retain its name after SABMiller takeover

BRUSSELS, Sept 28 (Reuters) - Anheuser-Busch InBev said on Wednesday that it would retain its existing name after a planned $100-billion-plus takeover of rival SABMiller. SABMiller shareholders will vote on Wednesday on whether to accept AB InBev's 45 pound-per-share offer for the world's

28 Sep 2016 08:53

ABInBev shareholders approve deal to buy SABMiller

Sept 28 (Reuters) - Anheuser-Busch InBev said on Wednesday that its shareholders approved its $100-billion-plus takeover of rival brewer SABMiller. SABMiller shareholders will vote on Wednesday on whether to accept AB InBev's 45 pound-per-share offer for the world's second-largest brewer, a

22 Sep 2016 07:51

Thursday newspaper round-up: SME confidence, ECB, insurers, SAB

(ShareCast News) - Confidence among small businesses is at a four-year low because of concerns among companies that the economy will weaken as Britain prepares to leave the European Union. A survey by the Federation of Small Businesses has revealed that confidence has fallen for the third consecutiv

21 Sep 2016 06:26

MEDIA-SABMiller's central European assets attract Asian, European bidders -Hospodarske Noviny

PRAGUE, Sept 21 (Reuters) - * SABMiller's central European assets, including Czech beer maker Pilsner Urquell, have attracted investors from China, Japan and Europe, the Hospodarske Noviny daily paper said on Wednesday. * The paper lists China Resources Beer Holding, Japan's Asahi and Ki

15 Sep 2016 16:08

Heineken to bring more premium brands into South Africa

MIDVAAL, South Africa, Sept 15 (Reuters) - Heineken plans to bring more of its premium brands into South Africa following its recent introduction of Sol Mexican lager which it hopes will increase its market share. Following 11 years of cooperation, Heineken dissolved its joint venture with

15 Sep 2016 10:10

Shareholder adviser Glass Lewis backs AB InBev takeover of SABMiller

LONDON, Sept 15 (Reuters) - Investor advisory firm Glass Lewis has recommended SABMiller shareholders vote in favor of its takeover by Anheuser-Busch InBev, adding to the likelihood of the $100 billion-plus beer mega-merger getting done. One of the biggest deals in corporate history, which

30 Aug 2016 14:32

AB InBev lauds SAB's partnership with Castel Group

LONDON, Aug 30 (Reuters) - Brewer Anheuser-Busch InBev said on Tuesday that following its takeover of rival SABMiller it plans to continue developing SAB's partnership with France's Castel Group. "It's a very important relationship that we intend to continue to develop and evolve," AB InBe

26 Aug 2016 12:10

Bumper US$2bn payday for advisers on SABMiller deal

By Steve Slater LONDON, Aug 26 (IFR) - Brewers Anheuser-Busch InBev and SABMiller will pay almost US$2bn in fees to banks, lawyers, PR firms and others advisers to complete the largest ever consumer products takeover. Shareholder documents released on Friday showed the US$104bn takeov

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