Today's Closing Update
U.S. Shares traded marginally lower, retreating from all-time highs set during the previous session as investors searched for catalysts that could breathe new life into the rally.
European and U.K. Shares were lackluster as investors moved to the sidelines awaiting further clarity over North Korea and U.S. President Donald Trump’s tax reform bill.
Spire Healthcare has confirmed that it has reached an agreement in principle to settle all current and known claims against the Group relating to the actions of the disgraced former consultant, Ian Paterson, with the establishment of the Ian Paterson (Liability to Private Patients) Compensation Fund. The Fund will provide compensation to approximately 750 patients currently bringing claims against Spire Healthcare and will provide a mechanism for dealing with any new claims brought before 30 October, 2018. The Fund will be managed by the lead solicitors for the claimants. It will be funded by Spire Healthcare and its co-defendants (or, in the case of Ian Paterson, his insurers) contributing a total of £37m to the Fund. Spire Healthcare’s contribution will be £27.2m including a contribution to settlement costs.
‘Worldwide by easyJet‘ will enable customers to connect their easyJet flight with partner airline flights, launch partners WestJet and Norwegian, as well as other easyJet flights, through London’s Gatwick airport. As well as adding partners at Gatwick, easyJet said it plans to expand to “other key easyJet airports” in Europe, such as Milan Malpensa, Geneva, Amsterdam, Paris Charles De Gaulle and Barcelona. “Because of easyJet’s strong positions at Europe’s leading airports and our customer focus long haul carriers have been asking to work with easyJet for some time and the new technology platform has now allowed us to do so,” said Chief Executive Carolyn McCall.
Just Group reported a 39% uplift in adjusted operating profit before tax for the first half on Wednesday, to £67.2m. The company said its focus on growth drove much of that, with new business operating profit surging 106% to £64m, while underlying operating profit was ahead 49% at £100.6m. IFRS statutory profit before tax for the six months to 30 June was £66m. The board said its new business profit more than doubled, with retirement income sales growing 16%, and IFRS new business margins increasing to 8.9% from 5% proforma.
Halfords has poached fellow retailer Dixons Carphone’s software boss, Graham Stapleton, to take up the chief executive role vacated by the soon-to-depart Jill McDonald. Stapleton, who will take up the role in mid-January and will be the retailer’s third CEO since 2012, currently heads up Dixons Carphone plc’s software business, Honeybee, having previously run the Connected World Services division and been CEO of Carphone Warehouse UK & Ireland. Halfords’ chief financial officer Jonny Mason will stand in as interim CEO until Stapleton arrives.
Jupiter Dividend & Growth Trust said it has agreed with Jupiter UK Growth Investment Trust proposals under which it will be wound up voluntarily. Jupiter Dividend & Growth has a fixed life and is due to wind up by November 30. As a result, shareholders will be offered a choice of rolling over their investment on a cost and tax efficient rollover into new shares to be issues by Jupiter UK Growth or electing for a cash exit at the final asset value. Jupiter Dividend & Growth had approximately GBP58 million of net assets at the end of August.
Oil prices rose on Wednesday after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink due to robust global demand and an output drop from OPEC and other producers.
Gold prices dipped on Wednesday, erasing earlier slim gains as the dollar index moved into positive territory, though a retreat in global stocks after Tuesday’s record high kept the metal hemmed within a narrow range.
Market Close
Market |
Index |
Change |
% Change |
UK 100 |
7,739.7 |
-21.0 |
-0.3% |
UK 250 |
19,590.0 |
-75.9 |
-0.4% |
GER 30 |
12,565.1 |
+40.3 |
+0.3% |
FRA 40 |
5,222.9 |
+13.9 |
+0.3% |
U.S. 30 |
22,111.79 |
-7.07 |
-0.0% |
U.S. 500 |
2,494.9 |
-1.6 |
-0.1% |
OIL (BRENT) |
54.81 |
+0.54 |
+1.0% |
GOLD |
1,322.46 |
-9.35 |
-0.7% |
UK Risers & Fallers
Company |
Price |
Change |
% Change |
Provident Financial |
843 |
+11 |
+1.3% |
Micro Focus |
2428 |
+30 |
+1.3% |
Dunelm |
675.75 |
+65.25 |
+10.7% |
Travis Perkins |
1401 |
-77 |
-5.2% |
Antofagasta |
970.5 |
-37.5 |
-3.7% |
Fresnillo |
1517 |
-53 |
-3.4% |
Reported Economic Data
Time/Date |
Previous |
Forecast |
Outcome |
9:30am: U.K. Average Earnings Index 3m/y |
2.1% |
2.3% |
2.1% |
9:30am: U.K. Unemployment Rate |
4.4% |
4.4% |
4.3% |
1:30pm: U.S. PPI m/m |
-0.1% |
0.3% |
0.1% |
3:30pm: U.S. Crude Oil Inventories |
4.6m |
4.1m |
5.9m |
Sources:
http://www.marketwatch.com/story/us-stocks-set-to-lose-grip-on-all-time-highs-2017-09-13
http://www.nasdaq.com/article/european-shares-mostly-lower-in-cautious-trade-20170913-00177
https://www.digitallook.com/news/news-and-announcements/halfords-poaches-dixons-director-to-be-new-ceo–2856492.html
https://www.digitallook.com/news/news-and-announcements/focus-on-growth-sees-profits-soar-at-just-group–2856494.html
http://www.stockmarketwire.com/article/5663473/Spire-reaches-settlement-agreement.html
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1505314750726942900.html
http://www.londonstockexchange.com/exchange/news/alliance-news/archive.html?&page=1
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1505313858826924400.html
http://uk.reuters.com/article/global-precious/precious-gold-eases-as-dollar-ticks-up-but-weak-stocks-support-idUKL5N1LU2QE
http://www.nydailynews.com/newswires/news/business/oil-prices-rise-iea-sees-higher-demand-shrinking-inventories-article-1.3488512