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Thursday preview: BoE rate decision, Rank, Carphone Warehouse

Wed, 07th Oct 2009 17:39

On Thursday the Bank of England's Monetary Policy Committee (MPC) will announce its interest rate decision and, as has been the case for several months, it would be a major surprise if the MPC were to make any decision other than no change.Similarly, the size of the £175bn quantitative easing (QE) programme is expected to remain the same, but there may be a change to the interest rate the Bank of England pays on commercial banks' reserves; Bank of England governor Mervyn King has publicly contemplated cutting the deposit rate as a means of discouraging banks from hoarding cash that he'd rather see pumping around the UK economy. Casinos and bingo outfit Rank makes an interim management statement on Thursday and will be seeking to make it two upbeat trading statements in a row, which would make for a relatively rare pleasurable experience for long suffering shareholders who have seen the shares lose two thirds of their value over the last five years.At the half-year stage the company said underlying pre-tax profits rose to £24.7m in the six months ended 30 June compared with £17.6m a year earlier. Analysts expected a profit of around £20m. Investors will be looking for an update on the company's debt burden. At the end of June it stood at £208.1m, down from £226.5m at the end of 2008.A decline in takings on the wholesale side of the business is expected to hit the interim profits of fashion outfit Ted Baker. Numis Securities is forecasting half-year profits before tax of about £5m, down by around a third from 2008.Mobile phone seller and broadband provider Carphone Warehouse is scheduled to announce key performance indicators for its second quarter. Nomura Securities is expecting the Talk Talk network to have added a net 42,000 users in the second quarter, down from 47,000 in the first quarter.The situation is not so bright at Tiscali, the Internet Service Provider (ISP) the company recently acquired, where Nomura predicts a net 200,000 users abandoned the ISP in the second quarter.INTERIMSC&C Group, Ted BakerINTERIM DIVIDEND PAYMENT DATE888 Holdings, Amlin, Antofagasta, Croda International, Eurasian Natural Resources, GlobeOp Financial Services, Molins, Shire Plc, Standard CharteredTRADING STATEMENTSHunting, Rank, Carphone WarehouseQUARTERLY PAYMENT DATEGlaxoSmithKlineINTERNATIONAL ECONOMIC ANNOUNCEMENTSECB Interest Rate (EU) (12:45)Industrial Production (GER) (12:45)Initial Jobless Claims (US) (13:30)Wholesale Inventories (US) (15:00)Current Accounts Total (JPN)Bankruptcies (JPN)FINALSSandvine CorporationEGMSSouth African Property OpportunitiesAGMSElectric & General Inv TrustUK ECONOMIC ANNOUNCEMENTSBoE Interest Rate Decision (12:00)FINAL DIVIDEND PAYMENT DATE888 Holdings, Brambles Ld, Mid Wynd International Inv Trust
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16 May 2014 16:15

MARKET COMMENT: UK Stocks Close Mixed, FTSE 250 Extends Losses

LONDON (Alliance News) - UK stocks closed mixed Friday, with the FTSE 100 outperforming its smaller index peers, but the FTSE 250 fell sharply for a second consecutive session, and a third in total, after another busy day of reporting by its constituents.

The mid-cap index had its w

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16 May 2014 12:10

UK MIDDAY BRIEFING: Carphone In Talks To Sell French Mobile Venture

LONDON (Alliance News) - Carphone Warehouse and Virgin Group are in exclusive talks to sell their Virgin Mobile France joint venture to Numericable Group for EUR325 million, just a day after Carphone announced its GBP3.6 billion merger with Dixons Retail.

The joint

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16 May 2014 10:38

TOP NEWS: Coca-Cola HBC And Intertek Have Difficult Starts To 2014

LONDON (Alliance News) - The following is a summary of top news stories Friday.
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COMPANIES
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Coca-Cola HBC AG, the second largest bottler of the brands of The Coca-Cola Co, said its full-year expectations for the year ahe

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16 May 2014 09:46

MARKET COMMENT: FTSE 250 Tumbles As Risk Aversion Continues

LONDON (Alliance News) - UK stocks trade lower Friday, with a notable divergence continuing between the UK's leading index, the FTSE 100, and its mid-cap peer, the FTSE 250. A lack of new top-tier economic data and a quieter corporate calendar Friday leaves little to shift the sentiment fro

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16 May 2014 07:39

UPDATE 1-Numericable in exclusive talks to buy Virgin Mobile France

(Adds detail) LONDON, May 16 (Reuters) - Carphone Warehouse and entrepreneur Richard Branson's Virgin Group have entered exclusive talks with French telecoms company Numericable to sell Virgin Mobile France, their joint venture mobile virtual network operator, for an enterprise value of 32

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16 May 2014 07:38

UK MORNING BRIEFING: Intertek Puts Damper On Flat FTSE 100

LONDON (Alliance News) - UK shares have opened mostly flat Friday, though mid- and small-caps are slightly outperforming, after disappointing European economic data on Thursday has been followed by a dearth of fresh leads Friday.

Intertek leads the FTSE 100 fallers,

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16 May 2014 06:30

Carphone agrees sale of Virgin Mobile France to Numericable Group

LONDON, May 16 (Reuters) - Carphone Warehouse, Europe's biggest independent mobile phone retailer, said it and the other shareholders of the Virgin Mobile business in France have agreed to sell the venture to Numericable Group for an enterprise value of 325 million euros ($446 million). Ca

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15 May 2014 16:59

London close: European and US concerns weigh on Footsie

- FTSE closes down 37.60 points at 6,840.89 - Eurozone GDP misses expectations, Italy, France disappoint - Russia says oil must be paid for - Telecoms, airlines fall techMARK 2,757.75 -1.26% FTSE 100 6,840.89 -0.55% FTSE 250 15,616.54 -2.24% The City ended today's session on a downbeat note, weigh

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15 May 2014 16:17

MARKET COMMENT: Stocks Retreat Amid Poor EU Data And UK Merger Concerns

LONDON (Alliance News) - Global stock indices lost ground Thursday amid a raft of disappointing eurozone economic data and concern over some disappointing company updates, with the FTSE 250 mid-cap index suffering its heaviest loss in more than six months, losing more than 350 points, as inves

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15 May 2014 15:20

Sector movers: Vodafone, TalkTalk, Carphone Warehouse drag telecoms lower

Telecoms were trading with steep losses on Thursday with heavyweights Vodafone, TalkTalk and Carphone Warehouse pulling the sector lower. Vodafone's shares were under pressure, trading 3.2% lower, after Goldman Sachs cut its recommendation for the stock from 'buy' to 'neutral' and reduced its targe

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15 May 2014 14:58

FTSE 250 movers: Infinis lifted by broker rating

Infinis rose strongly after Deutsche Bank upgraded the stock to 'buy' with a target price of 220p. The share price of Kier also rose after the construction, services and property group was named as a preferred bidder on two new long-term Anglian Water contracts and gave a positive update on third-q

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15 May 2014 14:05

UPDATE 3-UK's Dixons and Carphone agree $6 bln retail merger

* Companies see merger benefits worth 80 mln stg * Dixons CEO Seb James to be CEO of combined company * Dixons expects FY profit of 150-160 mln stg (Adds quotes, details) By James Davey and Neil Maidment LONDON, May 15 (Reuters) - Britain's Carphone Warehouse and Dixons

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15 May 2014 13:01

Broker tips: LSE, Aviva, Vodafone...

Numis Securities has upgraded bourses operator London Stock Exchange from 'hold' to 'add' after the company identified more cost savings from its recent acquisition of LCH.Clearnet. "The strategic development of the LSE continues and we believe the LSE is well placed to take advantage of the global

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15 May 2014 12:48

UK MIDDAY BRIEFING: "Dixons Carphone" Shares Hit By Merger Deal

LONDON (Alliance News) - Shares in Carphone Warehouse Group and Dixons Retail took a hit Thursday after the companies announced a GBP3.6 billion merger that will create the UK's biggest retailer of mobile phones and electrical goods.

The new firm,

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15 May 2014 12:17

MARKET COMMENT: US Stocks Seen Lower As Wal-Mart Disappoints

LONDON (Alliance News) - US stocks are called to open modestly lower Thursday, as investors digest a weaker-than expected quarterly earnings report from Wal-Mart, and ahead of a raft of top-tier US macro-economic data. Wal-Mart, which is the world's biggest retailer, is weighing on equity f

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