ULE.L Share News (ULE)

(Alliance News) - Stock prices are set to open higher in London on Friday following the previous day's sharp losses as the "mood lightens" after no new trade blows were exchanged between the US and China overnight.In early UK company news, Standard Life Aberdeen confirmed the start of a GBP200 million share buyback, Ted Baker signed an agreement with larger retailer Next to expand its childrenswear collection, and Ultra Electronics has secured a deal with the US Navy worth as much as USD1 billion.IG says futures indicate the FTSE 100 index of large-caps to open 40.49 points higher at 7,107.50 on Friday. The FTSE 100 index closed 1.1% lower, or 80.87 points, at 7,067.01 on Thursday."Stock markets in Europe largely ended lower yesterday as the concerns about the health of the global economy continue to hang over the markets. The FTSE 100 lost the most ground of the major European markets as oil, mining and banking stocks were the biggest fallers. The natural resources sector was hit hard as dealers were fearful that demand would fall for metals and oil," said CMC Market's David Madden.In mainland Europe, in Paris the CAC 40 equities index ended down 0.3% and the DAX 30 in Frankfurt down 0.7%.In the US on Thursday, Wall Street ended mixed, with the Dow Jones Industrial Average adding 0.4% and the S&P 500 up 0.3% but the Nasdaq Composite down 0.1%.Early Friday, sterling was slighter higher versus the dollar. The pound was quoted at USD1.2112 early from USD1.2111 late Thursday.General Electric shares plunged in New York Thursday after an accounting expert accused the company of fraud, an allegation the industrial giant strongly denied and said was tainted by the accuser's financial incentives.Harry Markopolos, who warned securities regulators about the Bernard Madoff investment scheme years before that firm went under, accused GE of "running a decades long accounting fraud," according to information on gefraud.com, a website set up by Markopolos and his associates.Markopolos told the Wall Street Journal that GE will need to bolster its insurance reserves by USD18.5 billion in cash and should have booked billions in losses in its oil and gas division.GE shares closed down 11% at USD8.01 but rebounded 2.1% to USD8.18 in after-hours US trade.On Thursday, the Chinese Finance Ministry announced plans to adopt "necessary countermeasures" in response to the threat by US President Donald Trump to slap further tariffs on USD300 billion of goods from China from the start of September. There was no further response from the US to this overnight.Madden added: "Stocks markets in Asia are a little higher as the mood has lightened, and that paved the way for bargain hunting."In Asia on Friday, the Japanese Nikkei 225 index closed 0.1% higher. In China, the Shanghai Composite is up 0.6%, while the Hang Seng index in Hong Kong is up 0.9%.Standard Life Aberdeen said it entered into an agreement with US bank Citigroup to buy back up to GBP200 million of the financial services firm's stock. Citi will purchase the shares starting from Friday and will complete the buyback no later than January 2020. Standard Life Aberdeen said the programme is to reduce its share capital.Ted Baker has signed a new product licence with Next to expand the Ted Baker's childrenswear collection. Under the five-year agreement, Next will create and sell Ted Baker childrenswear products, including baby, boys' and girls' clothing, shoes and accessories. The new collections are expected to launch in 2020.Ted Baker's current childrenswear product relationship with Debenhams will end in February 2020. Ted Baker lingerie and nightwear will continue to be sold in Debenhams following the end of the childrenswear deal.Ultra Electronics's joint venture with US manufacturing firm Sparton DeLeon Springs has been awarded a contract to manufacture sonobuoys for the US Navy. The five-year contract's "not to exceed" amount is USD1.04 billion, and will start with first-year awards to Ultra and Sparton of about USD75 million each.Acacia Mining has resumed the export of gold from its North Mara mine in Tanzania following approval from the Mining Commission of the Tanzanian Ministry of Minerals. Acacia said it will be able to meet its financial obligations for an "extended period of time".The miner noted, however, that production has still not resumed at the mine and cannot do so until the Tanzanian government lifts the prohibition notice currently in effect."Mining activities at the North Mara gold mine remain unaffected for the time being with mined ore being added to stockpiles while a resolution is sought with respect to the notice," Acacia added.E-banking and international payments firm Equals Group is hoping to raise GBP16 million, through a placing of GBP14 million and an open offer worth GBP2 million.Equals Group will issue 12.7 million shares at 110p each. The stock closed Thursday at 107p."The new funds raised will enable us to accelerate our plans for our corporate offering, as we target new territories, and provide the means for further strategic acquisitions. This is an exciting time for Equals and we look forward to updating shareholders on our progress in due course," said Equals Chief Executive Ian Strafford-Taylor. In domestic Brexit news, Remain-supporting MPs are awaiting Jeremy Corbyn's next move after his proposal to become caretaker prime minister to block a no-deal Brexit received a mixed response.Liberal Democrat leader Jo Swinson wrote to Corbyn to suggest the pair meet "in the coming days" to discuss how their parties could work to stop a no-deal Brexit, but reiterated her belief that it must be someone else who leads an emergency government.When asked how they would respond to Swinson's offer, the Labour Party referred back to its leader's earlier remarks in which he welcomed an "encouraging" response from MPs to his plan.This involves a no-confidence vote in Prime Minister Boris Johnson, extension to the Brexit deadline beyond October 31, and general election with Corbyn as temporary PM.In the economic calendar on Friday, the eurozone trade balance is due at 1000 BST. In the US, housing starts are released at 1330 BST, the Michigan consumer sentiment index is at 1500 BST and the Baker Hughes US oil rig count at 1800 BST.