Spire Healthcare Share News (SPI)

LONDON (Alliance News) - London share prices are higher midday Monday, while US stocks are expected to have a positive open, as European and US investors focus on Monday's emergency eurozone summit where leaders and finance ministers will search for a solution for the Greek debt situation.

The FTSE 100 trades up 1.1% at 6,784.77, the FTSE 250 is up 0.7% at 17,824.20 and the AIM All-Share trades up 0.1% at 768.97.

European major indices are also higher, with the French CAC 40 and the German DAX 30 both up 3.2%.

In New York on Friday, stocks closed lower, with the DJIA and S&P 500 down 0.6% and 0.5%, respectively, while the tech-heavy Nasdaq Composite ended down 0.3%, after reaching a record close on Thursday.

"US markets will still be keeping most of their attention on Greece," says IG senior market analyst Chris Beauchamp. "Like their European counterparts, US markets will be keeping a close eye on any headline flashes emerging from today's crucial meeting."

Wall Street is called for a higher open, with the DJIA pointed up 0.8%, the S&P 500 pointed up 0.9% and the Nasdaq 100 pointed up 0.9%.

Progress has been made on Greece over the weekend, but "we are not yet there", European Commission President Jean-Claude Juncker said ahead of a meeting with Greek Prime Minister Alexis Tsipras. "I don't know if we will have an agreement today," Juncker added.

Tsipras, meanwhile, said that "this is time for a substantial and viable solution that would allow Greece to come back to growth, within the eurozone, and with social justice."

Outside Greece, CMC Markets UK analyst Jasper Lawler says underlying the positivity in US markets is the US Federal Reserve's seeming assurance last week that it is in no rush to hike rates.

"The Fed’s dovishness was backed up by weaker-than-expected inflation data and maybe again this week by the final US gross domestic product reading for the first quarter," writes Lawler, who notes that according to the Fed’s 'dot-plot', a number of Federal Open Market Committee members have switched from expecting two rate hikes in 2015 to just one.

The analyst also notes Apple shares may be in focus on Monday after the iPhone-maker U-turned on its policy to charge artists during the 90-day trial period of its new streaming service, seemingly caving in to criticism from singer Taylor Swift. "Swift’s battle with market leader Spotify is clearly something Apple’s PR department wish to avoid replicating, just as the company’s rival music streaming service gets going," says Lawler.

On the London Stock Exchange, Carnival is the best performer in the FTSE 100, trading up 4.2% after Deutsche Bank upgraded it to Buy from Hold. The bank says it expects the second-quarter results from the cruiser operator to be above the upper end of the company's guidance. Carnival reports its second quarter results on Tuesday.

Spire Healthcare is by some distance the biggest gainer in the FTSE 250, trading up 9.3% at 350.00 pence. The private healthcare provider Spire Healthcare Group said the major shareholder in South Africa-based private hospital group Mediclinic has acquired a 29.9% stake in the company for GBP432 million. The shareholder, Remgro, has acquired the stake in Spire at 360p per share.

Spire said the intention is for Mediclinic to acquire the stake in Spire from Remgro in the "near future". Mediclinic and Remgro have confirmed they have no intention to acquiring the rest of Spire.

Savannah Resources is leading the AIM All-Share index, up 85%. The company said it has established a joint venture with mining giant Rio Tinto, which will result in both companies combining their heavy mineral sands projects in Mozambique. Under the deal, Savannah's Mutamba, Dongane and Jangamo prospects, together called the Jangamo project, will be combined with Rio Tinto's Chilubane project.

Shares in Imaginatik are up 38%. The consultancy and technology products company on Friday said it knows of no reason for the rise in its share price last week. However, it said it is aware that Quob Park Estates has been acquiring shares in the company. It added it has not received a notification of Quob's interest in its shares and has had no contact with the investment vehicle.

Meanwhile, Armstrong Ventures is down 20%. The investing company said it has raised GBP2 million after expenses by issuing new shares, as it decided to switch its focus to investing in the media, technology and healthcare sectors instead of the resources sector, where things have been tough for it.

By Daniel Ruiz; danielruiz@alliancenews.com

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