LONDON (Alliance News) - UK shares are set to open modestly higher Tuesday as a lack of economic data and observation of Armistice Day in some markets contribute to what is expected to be a quiet session.
Futures indicate the FTSE 100 to open 4 points higher at 6,615. The index closed Monday at 6,611.25.
Vodafone forecast higher earnings for the 2015 financial year and raised its interim dividend as it saw revenue rise in the half year to end-September. The telecom company now expects earnings before interest, tax, depreciation and amortisation for financial 2015 to be between GBP11.6 billion and GBP11.9 billion, up from its previous guidance of GBP11.4 billion to GBP11.9 billion.
Vodafone raised its interim dividend to 3.60 pence, up from 3.53 pence as half-year revenue rose 8.9% to GBP20.75 billion and Ebitda climbed 5.5% GBP5.88 billion.
Friends Life reported a fall in value of new business in the first nine months of its financial year, largely due to the reduction in retirement income value of new business. The life assurer reported GBP94 million of value of new business from continuing operations in the period compared with GBP123 million a year earlier. Retirement income value of new business fell to GBP40 million from GBP64 million.
Ireland's CRH said its operating earnings and like-for-like sales grew 3% in the third quarter, as growing demand in the US more than offset moderating markets in Europe. The building materials company reiterated its forecast for earnings growth of about 10% in the whole of 2014 as earnings before interest and taxes by rose 6% on the year, driven by 10% growth in the Americas.
US trading finished mixed, with the DJIA up 0.2% and the S&P 500 closing up 0.3%. The Nasdaq Composite closed down 0.4%.
In Asia, the Nikkei closed up 2.1% Tuesday despite an unexpected fall in Japanese consumer confidence in October. The Hang Seng is 0.3% higher and the Shanghai Composite is up 0.1%.
By Ian Edmondson; ianedmondson@alliancenews.com
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Vodafone (VOD)
CRH (CRH)