CMC Markets Share News (CMCX)

LONDON (Alliance News) - Bunzl, AB Foods and Hiscox kicked off a heavy week of UK company reporting in the FTSE 100 on Monday, all three mostly positive. However, among mid-caps shopping centre owner Hammerson said it suffered from the well-documented difficulties in the UK retail sector and is looking to sell off assets to reduce debt.In the week ahead are annual results from bank Standard Chartered, broadcaster ITV, miner Rio Tinto, cigarette roller British American Tobacco, building materials firm CRH, British Airways-owner IAG, and jet engine maker Rolls-Royce, among many others.Here is what you need to know at the London market open:----------MARKETS----------FTSE 100: up 0.4% at 7,208.66----------Hang Seng: up 0.5% at 28,948.66Nikkei 225: closed up 0.5% at 21,528.23DJIA: closed up 0.7% at 26,031.81S&P 500: closed up 0.6% at 26,031.81----------GBP: firm at USD1.3086 (USD1.3059)EUR: flat at USD1.1351 (USD1.1340)Gold: soft at USD1.329.50 per ounce (USD1,329.84)Oil (Brent): soft at USD66.97 a barrel (USD67.10)(changes since previous London equities close)----------ECONOMICS AND GENERAL----------Monday's Key Economic Events still to come 0900 CET Spain producer price index0830 EST US CFNAI Chicago Fed National Activity Index1000 EST US monthly wholesale trade ----------The US will not impose a new slew of tariffs on some USD200 billion worth of Chinese goods, US President Donald Trump announced as negotiators from both sides wrapped up six straight days of talks in Washington. The US was set to raise tariffs on the goods from 10% to 25% on March 1. The announcement will likely be welcomed on international markets and allay fears that a trade war between the world's largest economies will worsen in the short term. The tariffs Trump imposed on China last year remain in effect, but the president said unresolved matters between the sides could find a solution at a summit meeting with his Chinese counterpart Xi Jinping. "Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for US & China!" Trump said on Twitter. Trump also praised China for being "very helpful" on North Korea, just as he heads to Vietnam on Monday for a two-day summit with North Korean leader Kim Jong Un. The Chinese delegation, led by Vice Premier Liu He, also said the two sides had made "substantial progress" during the talks, according to Xinhua news agency.----------Producer prices in Japan rose 1.1% on year in January, the Bank of Japan said - in line with expectations and unchanged from the previous month. On a monthly basis, producer prices sank 0.5% after sliding 0.1% in December.----------UK Prime Minister Theresa May is to hold further meetings with EU leaders after admitting she will not get a Brexit deal in time for MPs to hold a "meaningful vote" this week. The prime minister, attending an EU-League of Arab States summit in Egypt, has said she will put her deal to Parliament by March 12 at the latest - just 17 days before Britain is due to leave the EU. The latest delay was greeted with anger by opposition parties who accused her of another attempt to "run down the clock" to force MPs to back her Withdrawal Agreement. And there was dismay among businesses over the continuing uncertainty over what will happen after March 29 when Britain is supposed to leave the EU. May now faces the prospect of another potentially damaging Commons revolt on Wednesday when MPs are expected to mount a fresh attempt to block a no-deal break. In the meantime, she is due to meet German Chancellor Angela Merkel and Dutch Prime Minister Mark Rutte in the sidelines of the summit on Monday as she continues to seek a resolution to the impasse over the Northern Ireland backstop.----------UK interest rates could be slashed into negative territory for the first time in history to combat the fallout from a chaotic no-deal Brexit, a former Bank of England policymaker has warned. David "Danny" Blanchflower - who sat on the Bank's Monetary Policy Committee from June 2006 to June 2009 - told the Press Association that policymakers may be left with little option but to take rates below zero if a no-deal Brexit sends shockwaves through the economy. In a savage critique of the bank's recent scenario analysis of Brexit, he said Governor Mark Carney and his team were "stupid" to indicate that rates could even rise in a disorderly withdrawal. It comes after the central bank's controversial "doomsday scenario" report, published at the request of MPs on the Treasury Select Committee, warned that interest rates could rise as high as 5.5% if a plunging pound sent inflation soaring.----------BROKER RATING CHANGES----------DEUTSCHE BANK RAISES LLOYDS BANKING PRICE TARGET TO 72 (68) PENCE - 'BUY'----------DZ BANK RAISES FAIR VALUE FOR ANGLO AMERICAN TO 1570 (1480) PENCE - 'SELL'----------JPMORGAN RAISES ROTORK PRICE TARGET TO 310 (295) PENCE - 'OVERWEIGHT'----------GOLDMAN CUTS CMC MARKETS PRICE TARGET TO 105 (135) PENCE - 'NEUTRAL'----------COMPANIES - FTSE 100----------Outsourcing company Bunzl said it acquired a further safety business in the US for an undisclosed sum as its earnings grew in the year to December 31. Bunzl's pretax profit rose 4% in 2018 to GBP424.8 million from GBP409.3 million on a revenue, that increased by 6% to GBP9.08 billion from GBP8.58 billion. On a constant currency basis, revenue improved by 9%. The growth was due to the benefit of acquisitions and "good" contributions from all business areas. During the year Bunzl completed seven acquisitions for a total of GBP165.2 million. The company declared a final dividend of 35.0 pence, taking the total payout to 50.2p, up 9% year-on-year. "Looking forward, despite mixed macroeconomic conditions, with an active pipeline of acquisition opportunities we believe that the prospects of the group are positive due to its strong market position and well established and successful strategy to grow the business both organically and by acquisition," said Chief Executive Frank van Zanten.----------Hiscox reported a sharp rise in annual profit, ahead of consensus, in set of "good results" in a "challenging year" as the insurer upped its dividend payout. For the year ended December 31, pretax profit rose to USD137.4 million from USD39.7 million the year before. Excluding foreign currency effect, pretax profit increased to USD151.1 million from USD120.6 million the year before. Analysts had forecast pretax profit for the insurer at USD129 million. In 2017, profit performance was harmed by Hiscox reserving USD225 million for claims in what it termed a "historic year" for natural catastrophes, as hurricanes hit the Caribbean and US and earthquakes struck Mexico.----------AB Foods said it expects its interim adjusted earnings per share to be broadly in line with the same period last year. For the full year, the food producer and clothing retailer's outlook is unchanged, with adjusted operating profit and adjusted earnings per share expected to be in line with last year. For its Grocery division, AB Foods expects revenue and operating profit to be ahead of last year, with a further improvement in margin. Meanwhile, the Sugar unit's revenue from continuing operations is expected to be lower than in the first half the year prior due to lower sugar prices. In addition, sales at Primark are expected to be 4% ahead of last year in the first half, driven by increased retail selling space partially offset by a 2% decline in like-for-like sales.----------British American Tobacco will find out whether it has successfully appealed against its class action settlement in Quebec on Friday. The judgement, BAT said, will be handed down by the Quebec Court of Appeal at 0900 GMT that day. The appeal relates to a CAD15.6 billion fine which three companies were ordered to pay in the summer in 2015. The case, running for over a decade before that, was brought by smokers who alleged BAT, as well as Philip Morris International and Japan Tobacco International, had failed to warn them of the risks associated with smoking. Some CAD10.4 billion of the fine was to be paid by BAT, which appealed the order. ----------Persimmon's right to sell Help to Buy homes is under scrutiny amid UK government concerns over the housebuilder's behaviour. An extension of contracts for the scheme from April 2021 is soon to be reviewed by Housing Secretary James Brokenshire. "James has become increasingly concerned by the behaviour of Persimmon in the last 12 months," a source close to the minister told the Press Association. "Leasehold, build quality, their leadership seemingly not getting they're accountable to their customers, are all points that have been raised by the Secretary of State privately." Launched in 2013, Help to Buy allows buyers to put down a 5% deposit on a newly-built home and get a government equity loan for up to 20%, or 40% in London, of the purchase price.----------US private equity firm KKR is considering a takeover offer for Asda as the UK supermarket's merger with larger rival J Sainsbury appears close to collapse due to opposition from the regulator, The Sunday Times reported. On Wednesday, the UK Competition & Markets Authority proposed blocking the merger between supermarkets Sainsbury's and Walmart-owned Asda after highlighting "extensive competition concerns" arising from the tie-up. The Sunday Times said KKR is thought to be working with Tony De Nunzio, saying the former Asda boss and now a senior adviser to the buyout firm would become chairman were KKR to strike a deal.----------COMPANIES - FTSE 250----------Engineer Weir Group has entered into an agreement to sell its Flow Control division, which provides engineered pumps, to investment firm First Reserve for an enterprise value of GBP275 million. The transaction remains subject to regulatory and other approvals, with completion expected in the second quarter of 2019. The plan to sell the division was first announced in April last year alongside the acquisition of ESCO, an energy services firm.----------Hammerson is in talks over disposals worth almost GBP1 billion, the shopping centre owner said, as it reported a swing to a significant annual loss. Currently, the company said, it is in talks over asset sales worth more than GBP900 million. These sales would allow it to reduce net debt to below GBP3 billion. At the end of 2018, the net debt figure was GBP3.4 billion, down slightly from GBP3.5 billion a year prior. Hammerson posted a GBP268.5 million pretax loss for 2018, from a GBP411.6 million profit in 2017. The figure was hurt by revaluation losses as well as losses on property sales. The value of Hammerson's portfolio slipped to GBP9.94 billion at the end of 2018, down 5.9% on the figure a year before.----------Gold miner Centamin reported a decline in pretax profit to USD152.7 million in 2018 from USD207.4 million a year before, as revenue decreased 11% to USD603.2 million. Earnings were hurt by lower gold sales, which fell 10% year-on-year to 484,322 ounces, while the average gold sales price remained broadly unchanged at USD1,267 per ounce. Gold production also declined in 2018 to 472,418 ounces from 544,658 ounces, due to the "operational challenges". For 2019, gold production guidance is between 490,000 and 520,000 ounces. The company proposed a final dividend of 3.0 US cents, bringing the total payout to 5.5 US cents.----------COMPANIES - OTHER MAIN MARKET AND AIM----------Daily Mail & General Trust has confirmed that it is reviewing options for its holding in Euromoney Institutional Investor, which it said is consistent with its stated strategy of increasing portfolio focus. The Sunday Times reported that DGMT is considering selling its remaining interest in FTSE 250-listed business events organiser and publisher Euromoney and returning the cash to shareholders. DGMT, the publisher of the Daily Mail newspaper, sold down its stake in Euromoney to 49% from 67% back in December 2016 and now is considering selling remainder to a fund a GBP750 million special cash return to shareholders, according to the newspaper.----------Laura Ashley confirmed that no bid has been received for the company. The Sunday Telegraph said fashion retailer Laura Ashley has received a takeover offer from Manchester-born entrepreneur Michael Flacks. Flacks is to approach Laura Ashley's Malaysian controlling shareholders about taking it private and reviving it. The reported approach comes after Laura Ashley shares dropped on Wednesday last week as it revealed a swing to an interim loss and warned of lower annual profit.----------COMPANIES - INTERNATIONAL----------Roche Holding confirmed it has agreed to acquire US biotechnology company Spark Therapeutics for approximately USD4.3 billion. The announcement confirmed a report by the Wall Street Journal. Roche would acquire Spark at a price of USD114.50 per share in an all-cash transaction. This price represents a premium of approximately 122% to Spark's closing price on Friday. The merger agreement has been unanimously approved by the boards of Spark Therapeutics and Roche. The transaction is expected to close in the second quarter. Philadelphia, Pennsylvania-based Spark develops gene therapies with one commercial asset and four programs currently in clinical trials.----------Warren Buffett's Berkshire Hathaway reported fourth-quarter net loss attributable to shareholders of USD25.39 billion versus a profit of USD32.55 billion reported a year prior. The company noted that the fourth-quarter net loss included investment losses of about USD27.6 billion. Operating earnings for the quarter rose to USD5.72 billion from USD3.34 billion in the previous year. Total revenue was USD63.71 billion, up 8.4% from USD58.80 billion a year before.----------Monday's Shareholder MeetingsGreencoat UK Wind (re issue of new shares)----------Copyright 2019 Alliance News Limited. All Rights Reserved.