Highlights of the Day
Asian Markets
Asian stocks were little changed as investors watched U.S.-North Korean tensions |
U.S. Markets
U.S. stock-market indexes ended lower on the back of a fresh flare up in tensions between the U.S. and North Korea and a sharp decline in technology shares. |
Today's News
Theresa May will hold talks with European Council president Donald Tusk as she attempts to secure a breakthrough in the Brexit process. Tusk will discuss progress with the EU’s chief Brexit negotiator Michel Barnier before heading to London for the meeting with the prime minister. The fourth round of talks on the UK’s withdrawal from the EU began in Brussels on Monday, with Brexit Secretary David Davis insisting there are “no excuses” for blocking progress.
Card Factory reported a jump in revenue for the first half as it declared a special dividend, but profit declined on the back of foreign exchange movements, the national living wage and investments. In the six months to the end of July, revenue rose 6.1% to £179.6m, with like-for-like sales up 3.1% despite a drop in footfall across the high street. However, pre-tax profit fell 14.1% to £23.2m and operating profit was down 14% to £24.6m as the company incurred costs headwinds of around £4.2m from FX and national living wage pressures.
United Utilities issued a trading update, reporting that current trading remained in line with the group’s expectations for the six months to 30 September. The company said its operational performance was “delivering value” for customers, shareholders and the environment.
AG Barr’s total revenue grew by 8.8% to £136.6m inthe six months to 29 Jul with profit on ordinary activities before tax and exceptional items up 2.9% at £17.5m. Pre-tax profit before tax was £19.4m including an exceptional credit of £1.9m. Operating margin before exceptional items was 13.2% and the group reported free cash flow of £20.0m which resulted in a net cash position of £7.9m (2016: net debt at the period end.
Thomas Cook has left its full year underlying EBIT outlook unchanged after the summer trading period closed out as expected. Winter 2017/18 booked revenue rose 6%, with growing demand for Turkey and North Africa. The company has also announced new alliances with Expedia and LMEY. “Thomas Cook has enjoyed a good summer,” chief executive Peter Fankhauser said. “Customers from across our markets have shown a strong appetite for our holidays, picking a wide range of destinations in their search for the sun, with Greece, Bulgaria and Cyprus proving particularly popular.” Story provided by StockMarketWire.com.
A competition investigation has been launched to find out if a UK price comparison website is increasing prices for home insurance, while also laying down new rules for how all sites use data and display information. The Competition and Markets Authority published its final report following a market study into the use of price comparison sites and other apps. While the probe found that these sites help consumers shop around, the CMA found sites were often not working in people’s best interests.
Informa announced the acquisition of Dove Medical Press, in a deal with undisclosed financial information. The firm said the addition of an independent open access (OA) publisher increased its “position and capability” in the growing OA market.
Oil prices rose fruther with the Brent benchmark hitting its highest in more than two years. Rising demand and geopolitical worries fuelled the increase, along with indications that production cuts by Opec members are starting to bite. Brent rose 3.8% to $59.02 a barrel, its highest since July 2015
Gold held steady after rising in the previous session, supported by safe-haven demand amid rising tensions surrounding North Korea.
Companies Reporting this week
Day |
Companies |
Today: |
Mysale Group * Transense Technologies * Close Brothers Group * United Utilities Group * Thomas Cook Group |
Tomorrow: |
Hotel Chocolat Group * Avingtrans * Crawshaw Group * Redt Energy * Strix Group * Summit Germany Limited * Grainger |
Thursday: |
Allergy Therapeutics * Clinigen Group * Hansard Global * Inland Homes Produce Investments * 3i Infrastructure * TUI AG Reg Shs (DI) * RPC Group |
Friday: |
CVS Group * Purplebricks Group |
Early Market Movements
Market |
Index |
Change |
% Change |
UK 100 |
7,287.4 |
-13.9 |
-0.2% |
UK 250 |
19,495.2 |
-71.2 |
-0.4% |
GER 30 |
12,555.5 |
-39.3 |
-0.3% |
FRA 40 |
5,258.6 |
-8.5 |
-0.2% |
U.S. 30 |
22,296.09 |
-53.50 |
-0.2% |
U.S. 500 |
2,496.7 |
-5.6 |
-0.2% |
OIL (BRENT) |
59.00 |
-0.02 |
-0.0% |
GOLD |
1,308.57 |
-2.21 |
-0.2% |
UK Risers & Fallers (8:15am)
Company |
Price |
Change |
% Change |
Kaz Minerals |
742.75 |
+31.75 |
+4.5% |
Mediclinic |
654 |
+8.5 |
+1.3% |
NMC Health |
2675 |
+30 |
+1.1% |
Card Factory |
300.05 |
-54.95 |
-15.5% |
WPP |
1396 |
-27 |
-1.9% |
Carnival |
4652 |
-86 |
-1.8% |
Latest Broker Views
Company |
Broker |
Recommendation |
Price |
Target |
National Grid |
Credit Suisse |
Underperform |
947.2 |
860 |
Rio Tinto |
Canaccord |
Hold |
3456 |
3780 |
WPP |
Morgan Stanley |
Equal-Weight |
1396 |
1600 |
Smiths Group |
RBC Capital |
Outperform |
1509 |
1650 |
Forthcoming Economic Data
Time/Date |
Previous |
Forecast |
Outcome |
3:00pm: U.S. CB Consumer Confidence |
122.9 |
119.9 |
– |
5:45pm: Fed Chair Yellen Speaks |
– |
– |
– |
Sources
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1506405534570723900.html
http://www.stockmarketwire.com/article/5679151/AG-Barr-hikes-divi-as-revenues-rise.html
http://www.stockmarketwire.com/article/5679150/Thomas-Cook-maintains-annual-earnings-guidance.html
http://www.stockmarketwire.com/article/5679150/Thomas-Cook-maintains-annual-earnings-guidance.html
https://www.digitallook.com/news/news-and-announcements/card-factory-revenues-jump-but-profit-drops-on-fx-national-living-wage–2877719.html
https://www.digitallook.com/news/news-and-announcements/informa-buys-dove-medical-press-in-deal-of-undisclosed-value–2877695.html
https://www.digitallook.com/news/news-and-announcements/cma-lays-down-new-rules-for-price-comparison-sites-opens-new-probe–2877699.html
http://www.bbc.co.uk/news/business-41394775
http://www.marketwatch.com/story/us-stocks-set-to-struggle-as-investors-look-for-guidance-from-fed-speakers-2017-09-25
http://www.chicagotribune.com/business/sns-bc-financial-markets-20170925-story.html
http://www.livemint.com/Money/K0HboAkuaUuaVGtL77NmAL/Global-gold-prices-steady-as-North-Korea-worries-support.html
http://www.reuters.com/article/us-global-oil/oil-rises-to-26-month-high-turkey-threatens-to-cut-kurdistan-oil-pipeline-idUSKCN1C103A