Today's Closing Update

U.S. Markets were closed today due to President’s Day.

 

European shares dipped in choppy trade as a poor update from Reckitt Benckiser hit consumer staples, outweighing gains among financials and strength in steel makers after the U.S. outlined proposals for hefty import curbs.

 

Merlin Entertainments shares received a boost, gaining 4%, after a US activist investor became the third largest shareholder in the themepark operator. ValueAct, which pushed for management changes at Rolls-Royce and Microsoft , has revealed a 5.4% stake in the owner of Legoland and Alton Towers. Merlin downgraded its full year profit forecasts in October after terror attacks in the UK had an impact on the number of visitors to its attractions, which also include Madame Tussauds and the London Eye. However, ValueAct is understood to be supportive of Merlin’s strategy after the two companies met.

 

Rightmove showed a 1.5% increase in UK house prices year-on-year for the month of February, but, on a month-to-month basis, the rate of price growth was just 0.8% which, as noted by analysts, is “well below” average for this time of the year.

 

Balfour Beatty said it had sold an additional 5% stake in Connect Plus, the company which operates the M25 orbital motorway, to funds managed by Equitix Investment Management for £42m. The expected profit on disposal on the transaction was £22m, which would be used to pay down debt. Balfour Beatty had now sold 25% of its original 40% holding for a total of £207 million.

 

Centamin said that non-executive director Trevor Schultz would retire at its annual general meeting on March 28. The company said it was conducting a board evaluation to ensure had the right composition, following Schultz’s retirement, it would have seven members.

 

Oil Prices hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising U.S. production tempered gains.

 

Gold Prices were mostly flat as the dollar clawed back some recent losses and stocks rose, but U.S. inflation fears kept buyers in the metal.

Market Close

UK 100 7,247.7 -47.0 -0.6%
UK 250 19,653.6 -80.1 -0.4%
GER 30 12,385.6 -66.4 -0.5%
FRA 40 5,256.2 -25.4 -0.5%
U.S. 30 25,219.38
U.S. 500
OIL (BRENT) 65.60 +0.76 +1.2%
GOLD 1,347.56 +0.60 +0.0%

UK Risers & Fallers

Standard Life Aberdeen 372.9 +8.7 +2.4%
International Consolidated Airlines 616 +8 +1.3%
Fidessa Group 2915 +310 +11.9%
Reckitt Benckiser 6075 -493 -7.5%
Shire 3110.5 -91.5 -2.9%
Sophos Group 501.95 -32.5 -6.0%

Reported Economic Data

Time/Date Previous Forecast Outcome
6.45pm: U.K. BOE Governor Mark Carney Speaks

 

 

 

 

Sources:

 

http://www.stockmarketwire.com/article/5861296/Centamin-director-Trevor-Schultz-to-retire.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1519056575270442500.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1519054863570402500.html

 

http://www.digitallook.com/

 

http://www.proactiveinvestors.co.uk/companies/market_reports/191817/ftse-100-set-to-end-quiet-monday-on-the-back-foot-191817.html

 

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/JE00B5TT1872JEGBXSTMM.html

 

https://uk.reuters.com/article/uk-europe-stocks/european-share-rebound-loses-steam-steel-stocks-gain-on-us-move-idUKKCN1G30RT

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