StockMarketWire | 26/11/2014 - 15:31
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FTSE indices were mixed midday, the blue chips up and mid caps down, with the top-100 ladder helped by resources plays marching higher. Investors continued to bet on further stimulus ahead in the euro zone. UK gross domestic product (GDP) data was met with calm.

Near noon, FTSE 100 was up 12.95 points, or 0.19%, to 6744.09, while FTSE 250 was down 42.06, or 0.27%, to 15,789.5. The FTSE 350 index for industrial metals was down 2.07%, while that for oil equipment services & distribution was off 1.14%.

Antofagasta (ANTO) led the blue chips with a 3.72% rise to 760.75p, followed by BHP Billiton (BLT) and others. Among the energy plays SSE (SSE) rose 1.11% to 1597.5p. United Utilities' (UU.) fell 0.68% to 908.25p as its lower H1 pretax profit disappointed. Energy stocks Cairn Energy (CNE) Wood Group (WG.) and BP (BP.) also eased.

Several retailers enjoyed mild gains. B&Q owner Kingfisher (KGF) added 1% to 294.2p, followed by Burberry (BRBY). Outside the top 100, French Connection (FCCN) rose 10.78% to 56.5p after an upbeat trading statement. Several financial issues were also on the up.

To the downside, TUI Travel (TT.) fell 1.45% to 420.3p and, again outside the top 100, Thomas Cook (TCG) plunged 20.45% to 109.7p on a lower FY pretax profit and news CEO Harriet Green would be replaced by COO Peter Fankhauser. Thomas Cook also warned growth would be more moderate in the coming year.

BIGGER MOVERS

Motive Television (MTV) has reached agreement with CCAN 2005 Inversiones Societarias to acquire the remaining 32.3% of Spanish subsidiary Motive Television SL that it does not own for 0.6m euros. Motive's shares soared 31.15% to 0.02p.

Kalimantan Gold Corporation (KLG) has signed a non-binding letter of intent with Tigers Realm Copper to purchase that company's interest in the Beutong copper-gold project, Indonesia. It would pay 171.4m in shares and 14.7m in warrants. Kalimantan's shares rose 76.67% to 3.18p.

Security Research Group (SRG) has proposed cancelling the admission of its shares on AIM. The AGM is on Dec. 18. Its shares plunged 25.83% to 44.5p. Meantime, Findel (FDL) fell 12.87% to 206.5p despite reporting its first interim pretax profit in six years. Current trading was mixed, however, with overall sales 'slightly behind.'

WANdisco (WAND) said a global US-based credit card and financial services company has signed a subscription contract to use its Non-Stop Hadoop in mission-critical customer transaction analysis. The subscription value is, for the initial deployment, about $0.25m a year. Its shares added 11.87% 367.5p.

ECONOMIC NEWS

UK GDP growth in Q3 was confirmed at 0.7%, official data showed. This was expected. Other data showed business investment fell a seasonally adjusted 0.7% in Q3, on the quarter. A seasonally adjusted rise of 2.3% was expected. Q2's business investment growth was 3.3%. The UK index of services gained 0.8% in Q3, from a 0.8% rise in the preceding quarter and ahead of expectations for a 0.7% rise.

Germany's import price index rose to a seasonally adjusted 0.3% in Q3, from -0.1% in the preceding quarter. The market had expected the index to remain broadly flat.

LONDON HIGHLIGHTS

IGas (IGAS), up 7.79% to 60.63p, has booked an H1 pretax profit of £1.5m, from a year earlier profit of £4.6m. Revenue slipped to £34.5m, from £36.2m. Average net production hit 2766 boepd, against 2704 boepd a year ago. It anticipated drilling two more wells in 2015.

Paypoint (PAY) perked up 4.54% to 967.5p as excitement mounts ahead of tomorrow's interim results. Elsewhere, Britvic (BVIC) lost 4.31% to 666.5p as news of a slow start to the new financial year overshadows strong full year results and 13.6% dividend hike to 20.9p.

Finsbury Food (FIF) baked in a 4.13% gain to 63p. In the first four months of FY 2015 it had generated 3.9% organic sales growth and there's a confident outlook on Fletchers acquisition. Meantime, First Property (FPO) rose 7.83% to 29.25p on interim pretax profits rising 184% to £5.4m and a 6% dividend hike to 0.35p.

Ixico (IXI) sparked up 10% to 38.5p on news its two clinical trial contracts for Huntington’s disease have been extended to a potential £2.5 million over three years. Kefi Minerals (KEFI) fell 3.67% to 1.18p despite finally resolving a gap in its finances.


By StockMarketWire | 26/11/2014 - 08:48

FTSE indices were mixed in early deals -- blue chip up, mid cap down -- as resources stocks nudged higher following yesterday's falls in a session so far rich in corporate news. Wall St was mixed overnight, while Asian markets were up this morning.

Shortly after the open, FTSE 100 was up 18.54 points, or 0.28%, to 6749.68, while FTSE 250 was down 19.49, or 0.12%, to 15,812.1. FTSE 350 indices were generally firmer, but those encompassing resources-related issues were notably lower. The market is looking to a string of data out Stateside this afternoon, including that for durable goods and unemployment.

The blue chip was led up by Antofagasta (ANTO), which added 2.08% to 748.75p, and followed by BHP Billiton (BLT), Randgold Resources (RRS) and Rio Tinto (RIO). Among energy stocks rising were SSE (SSE), up 1.68% to 1606.5p. United Utilities' (UU.) slipped 0.49% to 910p as its lower H1 pretax profit disappointed.

Several retailers enjoyed gains. Marks & Spencer (MKS), up 1.2% to 486.65p, led several supermarkets, while B&Q owner Kingfisher (KGF) added 0.94% to 294.05p and Burberry (BRBY) gained 0.71% to 1629.5p. Outside the top 100, French Connection (FCCN) fell 0.49% to 50.75p despite an upbeat trading statement.

To the downside, Wolseley (WOS) fell 0.87% to 3533p as the spectre of tough trading in central Europe and France outweighed its stronger performances elsewhere. TUI Travel (TT.) fell 2.29% dive to 416.75p and, again outside the top 100, Thomas Cook (TCG) plunged 21.21% to 108.65p on a lower FY pretax profit and news CEO Harriet Green would be replaced by COO Peter Fankhauser.

BIGGER MOVERS

Motive Television (MTV) has reached agreement with CCAN 2005 Inversiones Societarias to acquire the remaining 32.3% of Spanish subsidiary Motive Television SL that it does not own for 0.6m euros. Motive's shares soared 31.15% to 0.02p.

Kalimantan Gold Corporation (KLG) has signed a non-binding letter of intent with Tigers Realm Copper Pty Ltd to purchase that company's interest in the Beutong copper-gold project, Sumatra, Indonesia. Consideration would be 171.4m shares and 14.7m warrants. Kalimantan's shares rose 23.89% to 2.23p.

Security Research Group (SRG) has proposed cancelling the admission of its shares on AIM. The AGM is on Dec. 18. Its shares plunged 32.5% to 40.5p.

LONDON HIGHLIGHTS

Daily Mail and General Trust (DMGT) has booked a FY pretax profit of £267m, from a restated £178.5m a year earlier. Revenue was £1.81bn, from £1.67bn. Its dividend was 20.4p a share, from 19.2p. It described the results as 'good,' but noted forex headwinds and an expected decline in print advertising and circulation revenues. Its shares rose 0.16% to 779.25p.

WANdisco (WAND) said a global US-based credit card and financial services company has signed a subscription contract to use its Non-Stop Hadoop in mission-critical customer transaction analysis. The subscription value is, for the initial deployment, about $0.25m a year. Its shares added 3.5% to 340p.

IGas (IGAS), down 4.44% to 53.75p, has booked an H1 pretax profit of £1.5m, from a year earlier profit of £4.6m. Revenue slipped to £34.5m, from £36.2m. Average net production hit 2766 boepd, against 2704 boepd a year ago. It anticipated drilling two more wells in 2015.

Britvic (BVIC), down 2.4% to 679.75p, has reported a FY pretax profit of £132.9m, from £108.1m. Revenue rose, as did the FY dividend, up 13.6% to 20.9p. It described the results as a strong set despite challenging trading conditions in each of its markets.

Telford Homes (TEF) has improved its H1 pretax profit to £9.4m, from a year-ago profit of £7.7m. Revenue was £65.0m, from £73.7m. It hiked its dividend to 5.1p a share, from 3.7p. It was 'very confident' of meeting FY market expectations. Telford fell 0.94% to 356.13p.


By StockMarketWire | 26/11/2014 - 06:22

The headline index is tipped to open in positive territory this morning, according to financial websites, spurred on by modest overnight gains in Asia and ahead of today’s UK GDP figures, while Wall St closed flat on a mixed bag of local economic data…

US & ASIA

In the US last night, the Dow fell 3 points to 17,815, while the Nasdaq gained 3 points at 4,758 and the S&P 500 edged down 2 points to 2,067.

In Asia today, the Nikkei was recently up 5 points at 17,415 and the Hang Seng had gained 43 points at 23,888.

WTI crude oil traded at $74.07 a barrel and Brent at $78.4.

Gold settled at $1,198.2 an ounce.

LONDON MARKETS

In the corporate diary today, interim results are due from Patisserie Holdings, Findel, First Property Group, Hogg Robinson Group, Igas Energy, LondonMetric Property, Private & Commercial Finance Group, 600 Group, Telford Homes and United Utilities Group.

Final results are expected from Britvic, Compass Group, Daily Mail & General Trust, Thomas Cook Group and Zambeef Products and a trading statement is due from Wolseley.

Meanwhile, African Barrick Gold, Draganfly Investments, Forte Energy, International Ferro Metals, K3 Business Technology Group, Pure Wafer and Regenersis host their AGMs.