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Pin to quick picksSage Group Share News (SGE)

Share Price Information for Sage Group (SGE)

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Share Price: 1,198.00
Bid: 1,198.50
Ask: 1,199.50
Change: -8.00 (-0.66%)
Spread: 1.00 (0.083%)
Open: 1,205.50
High: 1,206.00
Low: 1,192.00
Prev. Close: 1,206.00
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LONDON BRIEFING: S4 Capital expects client spending caution to persist

Mon, 22nd Jan 2024 07:44

(Alliance News) - Stocks in London are called higher on Monday, following a tech-led rally in New York stock markets, which drove the S&P 500 to an all-time high.

The US Federal Reserve has entered its 'blackout' period ahead of next Wednesday's monetary policy decision, meaning the market will not be hearing from any of the central bank's officials.

As a result, closer attention will be paid to key economic data from the US, including fourth-quarter gross domestic product figures on Thursday, as well as core personal consumption expenditures on Friday.

"Strong US economic data has been tempering the expectation of a March rate cut from the Fed. But the Fed is still broadly expected to cut in May, if it doesn't in March," noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

There will also be earnings from US firms to consider, with highlights including Netflix on Tuesday and Tesla on Wednesday.

Other key events will be the Bank of Japan monetary policy decision on Tuesday, and the European Central Bank's rate call on Thursday.

Here is what you need to know at the London market open:

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MARKETS

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FTSE 100: called up 26.4 points, 0.4%, at 7,488.33

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Hang Seng: down 2.4% at 14,934.63

Nikkei 225: closed up 1.6% at 36,546.95

S&P/ASX 200: closed up 0.8% at 7,476.60

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DJIA: closed up 395.19 points, 1.1%, at 37,863.80

S&P 500: closed up 1.2% at 4,839.81

Nasdaq Composite: closed up 1.7% at 15,310.97

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EUR: up at USD1.0902 (USD1.0884)

GBP: up at USD1.2709 (USD1.2669)

USD: down at JPY148.07 (JPY148.18)

Gold: down at USD2,020.39 per ounce (USD2,035.35)

Oil (Brent): down at USD78.23 a barrel (USD79.06)

(changes since previous London equities close)

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ECONOMICS

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No major announcements are scheduled on Monday's economic calendar

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UK Prime Minister Rishi Sunak is bracing for a battle with the House of Lords over his controversial Rwanda deportation plan. The first test will come on Monday with a debate on a motion seeking to delay the Rwanda treaty. Many peers have already expressed deep unease about the stalled scheme to put some asylum seekers on a one-way flight the east African nation. But the prime minister has urged the Upper House not to block the "will of the people". Monday's debate will centre on a report by the Lords International Agreements Committee recommending Parliament should not ratify the Rwanda treaty until ministers can show the country is safe.

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The average homeowner in England and Wales who sold up last year made around GBP100,000 more than the amount they had originally paid for their property, according to analysis. Estate agent Hamptons, which carried out the research, looked at householders selling in 2023 who had bought their homes in the past 20 years. It found those who had bought a property within this timeframe and sold it last year sold for an average of GBP102,650 more than they paid. This was down from a record gross profit of GBP112,930 in 2022, according to the research, which used Land Registry data. In percentage terms, the average seller in England and Wales last year made a 48% gain, down from 54% in 2022. The decrease in average gains is partly due to small house price falls last year, but also because more households moved home sooner, researchers said.

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BROKER RATING CHANGES

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Barclays cuts Sage Group to 'underweight' (equal weight) - price target 985 (1,050) pence

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Morgan Stanley raises Berkeley target to 4,516 (3,920) pence - 'underweight'

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COMPANIES - FTSE 100

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Endeavour Mining updated on its fourth-quarter and full-year trading. The gold miner, with operations in the Ivory Coast, Senegal and Burkina Faso expects production to total 1.1 million ounces for the 2023 full year, down 8% from 2022. With all-in sustaining costs of around USD964 per ounce, the company said this will create shareholder returns of USD266 million and amount to growth investment of USD542 million. Its fourth quarter output was at 280,000 ounces, flat from the third quarter but down from 294,000 ounces year-on-year. Endeavour expects production to increase by up to 18% in 2024, thanks to several project start-ups due to commence in the second quarter. All-in sustaining costs are expected to remain low at between USD955 to USD1,0.35 per ounce.

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COMPANIES - FTSE 250

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HgCapital Trust said its manager Hg has agreed a full realisation of its shareholder in Argus Media, a provider of intelligence to the global energy and commodity markets. The deal values HgCapital's stake in Argus at around GBP52 million, which would be a 7% uplift over the pro-forma carrying value of the asset back at the end of September. The transaction is expected to close next month, subject to regulatory approvals.

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OTHER COMPANIES

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London-based advertising agency S4 Capital said its fourth-quarter trading was in line with its expectations outlined in November. Consequently, it now expects a like-for-like decline in net revenue of around 4% in 2023 as a whole, and operational Ebitda margin in the range of 10-11% - the margin was improved in the second half thanks to "significant" cost reductions. "After four years of very strong growth, 2023 was a difficult year impacted by volatile macro conditions and, consequently, cautious spending from clients, particularly those in the technology sector and from smaller project-based assignments. Our client relationships remain strong and we have also managed costs tightly," said Executive Chair Martin Sorrell. "While it is early in the year, we are not expecting 2024 to show macro-economic improvement, and client caution on marketing spend will likely persist, although not at last year's level..."

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Designer and builder of smart software solutions SmartSpace Software said it has received a non-binding indicative proposal for a possible cash offer from Sign In Solutions, a firm majority owned and controlled by funds managed or advised by PSG Equity. The price of 90 pence per share is one that SmartSpace's board would be "minded unanimously to recommend that shareholders accept". It represents a 32% premium to Friday's closing price of 67.98p. "The possible offer is subject to the satisfaction or waiver of a number of customary pre-conditions, including satisfactory completion of due diligence. Discussions between the parties are advancing but there can be no certainty that an offer will be made, even if the pre-conditions are satisfied or waived," the firm noted. Sign In now has until February 19 to announce its firm intention to make an offer, or announce it does not intend to make an offer.

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Aquaculture biotechnology firm Benchmark Holdings said it is undertaking a formal review of its strategic options, which could include the sale of the company as a whole, or one or more of its business units. The firm believes its current share price "materially undervalues" its businesses and long-term prospects. This "may at least in part be due to the tightly held and illiquid nature of its ordinary shares", it considered. The formal review will establish whether there are any potential bidders that will offer a value of the firm or its assets that the board considers to be "attractive" relative to the board's view of its intrinsic value. It is not currently in any discussions with any potential buyer.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Sage Group says Lucinda Cowley bought GBP75,620 in shares

Sage Group PLC - Newcastle-upon-Tyne, England-based business software company - Says Lucinda Cowley, an associate of Chief Executive Officer Steve Hare, bought 10,000 shares at GBP7.562 each for a total of GBP75,620 on Friday. The resultant shareholding of Lucinda Cowley is 30,000 shares, after this transaction, it says.

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Monday 6 February 
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Origin Enterprises PLCdividend payment date
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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UK shareholder meetings calendar - next 7 days

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On The Beach Group PLCAGM
Pathfinder Minerals PLCGM re capital raise
Serica Energy PLCGM re consideration shares approval
Treatt PLCAGM
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Renew Holdings PLCAGM
Schroder Asia Pacific Fund PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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TruFin extends Sage agreement, adds subscription packages in Ireland

(Alliance News) - TruFin PLC on Monday said it is extending its agreement with accounting, financial human resources and payroll technology provider Sage Group PLC, adding its business Satago's services to some Sage 50 subscriptions packages in Ireland.

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20 Jan 2023 11:48

TruFin shares down as eyes annual loss, in line with consensus

(Alliance news) - TruFin PLC on Friday said it expects annual revenue to rise by 22% and adjusted pretax loss to narrow.

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19 Jan 2023 09:38

LONDON BROKER RATINGS: Goldman Sachs cuts Relx but raises WPP

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19 Jan 2023 08:53

TOP NEWS: Sage quarterly revenue grows; profits from weaker sterling

(Alliance News) - Sage Group PLC on Thursday said it has made a strong start to its new financial year as it reported a double-digit percentage rise in revenue.

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LONDON BRIEFING: BHP says China to be "stabilising force" on demand

(Alliance News) - As market optimism faded that aggressive interest rate hikes by the world's central banks may soon come to an end, stocks in London were called to open lower on Thursday.

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Sage hails strong start to the year

(Sharecast News) - Sage Group reiterated full-year guidance on Thursday, after the technology firm said it had seen a strong start to the year.

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UK earnings, trading statements calendar - next 7 days

Friday 13 January 
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Ashmore Group PLCTrading Statement
Hercules Site Services PLCFull Year Results
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THG PLCTrading Statement
Wise PLCTrading Statement
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Currys PLCTrading Statement
Diploma PLCTrading Statement
Galliford Try Holdings PLCTrading Statement
Gateley Holdings PLCTrading Statement
Ibstock PLCTrading Statement
Kenmare Resources PLCTrading Statement
Liontrust Asset Management PLCTrading Statement
Midwich Group PLCTrading Statement
Pearson PLCTrading Statement
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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