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London midday: Markets in positive mood ahead of US jobs data

Fri, 04th Apr 2014 11:33

- Expectations high for US non-farm payrolls- 200k increase expected in March, jobless rate seen lower- easyJet traffic grows, RBS appoints new CFO- Retailers fall, including Tesco and M&StechMARK 2,774.68 +0.14%FTSE 100 6,678.29 +0.44%FTSE 250 16,414.01 +0.40%UK stock markets were putting in a decent performance on Friday with the FTSE 100 nearing a three-and-a-half week high as investors adopted a bullish mood ahead of the all-important US non-farm payrolls report due out this afternoon.The FTSE 100 was trading 0.4% higher at 6,678 by midday; it has not closed above this level since March 11th when it finished at 6,685.52.Following the positive ADP report on Wednesday, which showed that private hiring increased by 191,000 last month, expectations are high for a strong 'official' figure today as the adverse impact from severe winter weather seen in recent months eases.Ahead of the Bureau for Labor Statistics data due out at 13:30, consensus forecasts were for a 200,000 increase in payrolls in March, up from 175,000 the month before, while the unemployment rate is expected to have fallen to 6.6% from 6.7%.Market Analyst Craig Erlam from Alpari said that the positive moves on markets this morning was "unusual", as traders are normally fairly risk-averse before the jobs report each month."The number of jobs added in December, January and February appeared to be hit heavily by the unusually poor weather in the US and the expectation now is that the loss of job creation in those months will be carried over to the next few month, particularly March," he said.easyJet traffic grows, RBS appoints new CFOeasyJet was flying higher this morning after saying the number of passengers in March rose by 4.8% to 5,107,676 compared to a year earlier. The load factor, the number of passengers to the number of seats available, increased to 91.5% from 90.5% the same month in 2013. Royal Bank of Scotland rose after hiring long-running Credit Suisse banker, Ewen Stevenson, as its new Chief Finance Officer (CFO) following the resignation of Nathan Bostock in December. Shore Capital Analyst Gary Greenwood said the appointment "removes uncertainty" at the bank and "should therefore enhance investor confidence in the company's ability to deliver on its strategic plan".Oil, gas and mining engineer Kentz Corporation, however, fell after revealing that its CFO, Ed Power, is to step down on reaching his normal retirement age this May.Supermarket group Tesco was trading lower on speculation that its Finance Chief Laurie McIlwee could quit in the coming days amid falling profits and a recent decline in market share. McIlwee has worked for Tesco for 15 years.Department store Marks & Spencer was also in the red after Goldman Sachs warned of margin pressures, saying that the business is not immune to the increasing competition in the UK grocery market. In a report last night, the bank added M&S to its 'Conviction Sell List' and slashed its target price from 420p to 340p.Other retailers such as Kingfisher, WM Morrison, SuperGroup and Dixons Retail were also lower despite research from Deloitte saying that the High Street has showed "great resilience" since the financial crisis.Telecoms group Vodafone was hit with a downgrade by Nomura to 'neutral' and a target price cut from 255p to 240p. Meanwhile, Pearson was higher after Jefferies upgraded the publisher to 'buy' and raised its target from 1,128p to 1,184p.FTSE 100 - RisersRSA Insurance Group (RSA) 94.35p +3.68%Mondi (MNDI) 1,079.00p +2.37%easyJet (EZJ) 1,829.00p +2.12%Pearson (PSON) 1,029.00p +2.08%Aviva (AV.) 498.30p +1.90%G4S (GFS) 248.60p +1.80%Resolution Ltd. (RSL) 294.20p +1.80%Fresnillo (FRES) 885.00p +1.67%Aberdeen Asset Management (ADN) 440.20p +1.55%Carnival (CCL) 2,387.00p +1.36%FTSE 100 - FallersKingfisher (KGF) 438.90p -1.19%Intertek Group (ITRK) 2,974.00p -0.87%Tesco (TSCO) 289.35p -0.81%ARM Holdings (ARM) 1,018.00p -0.78%Johnson Matthey (JMAT) 3,271.00p -0.73%Vodafone Group (VOD) 217.95p -0.55%Travis Perkins (TPK) 1,883.00p -0.53%Barratt Developments (BDEV) 414.30p -0.53%Morrison (Wm) Supermarkets (MRW) 206.00p -0.48%AstraZeneca (AZN) 3,899.50p -0.46%FTSE 250 - RisersPerform Group (PER) 259.80p +5.18%Man Group (EMG) 106.90p +4.91%Oxford Instruments (OXIG) 1,412.00p +4.83%Fidessa Group (FDSA) 2,641.00p +2.84%Premier Oil (PMO) 305.70p +2.69%Evraz (EVR) 77.90p +2.50%Alent (ALNT) 321.80p +2.48%Phoenix Group Holdings (DI) (PHNX) 654.50p +2.43%Vesuvius (VSVS) 456.80p +2.33%Ted Baker (TED) 2,181.00p +2.15%FTSE 250 - FallersSupergroup (SGP) 1,596.00p -3.33%Imagination Technologies Group (IMG) 216.20p -2.44%FirstGroup (FGP) 131.50p -2.23%CSR (CSR) 695.50p -2.04%Big Yellow Group (BYG) 542.50p -1.99%Savills (SVS) 659.00p -1.86%Booker Group (BOK) 158.70p -1.67%Ocado Group (OCDO) 453.30p -1.48%Dixons Retail (DXNS) 49.70p -1.29%Provident Financial (PFG) 1,902.00p -1.25%BC
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24 Feb 2014 10:04

UK's Dixons, Carphone Warehouse in merger talks

LONDON, Feb 24 (Reuters) - Dixons Retail, Europe's No. 2 electricals retailer, and Carphone Warehouse, Europe's No. 1 independent mobile phone retailer, said on Monday they are in merger talks. "The boards of Dixons and Carphone Warehouse note the recent speculation and confirm that the two

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24 Feb 2014 09:58

Dixons and Carphone Warehouse announce merger talks

Currys and PC World group Dixons Retail is in merger talks with mobile phone retailer Carphone Warehouse, the two companies said on Monday. They said the talks were at "a very preliminary stage" and there was no certainty that a deal would be reached, a statement said. "No decision has been reache

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21 Feb 2014 13:57

FTSE 250 movers: IP Group jumps on IPO of portfolio group Xeros

Intellectual property company IP Group soared after announcing plans to float its portfolio company Xeros on the AIM market. Around a third of washing machine firm Xeros will be put up for sale, which is expected to raise between £30-40m. IP believes it will allow Xeros to "accelerate the roll-out

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18 Feb 2014 06:35

Tuesday newspaper round-up: Bank of England, PBoC, Bank of Japan

A Bank of England rate-setter has warned borrowers to start anticipating the impact of a rise in interest rates. David Miles, an external member of the Bank's Monetary Policy Committee, said that homeowners "need to think very carefully what's going to happen" when their mortgage costs go up. Mr Mil

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11 Feb 2014 17:34

MARKET COMMENT: Global Markets Rise As Yellen Pledges Continuity

LONDON (Alliance News) - The UK's main stock indices closed higher Tuesday, with both the FTSE 100 and FTSE 250 closing up for a fifth consecutive day, as Federal Reserve Chair Janet Yellen suggested the central bank will continue to taper its quantitative easing programme in coming months. Read more

11 Feb 2014 12:49

DIRECTOR DEALINGS: Dixon's Finance Director Exercises Options

LONDON (Alliance News) - Dixon's Retail PLC Tuesday said Finance Director Humphrey Singer exercised options over 12,100 shares at a price of 20.23 pence per share. Following this transaction, Singer holds 92,495 shares. Shares in the electronics seller were quoted at 46.94 pence up 3.

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11 Feb 2014 11:30

UK WINNERS & LOSERS: Kazakhmys Revalued As Tenge Is Devalued

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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FTSE 100 - WINNERS

Sports Direct International, up 4.1%, and Marks and SpencerRead more

11 Feb 2014 10:48

MARKET COMMENT: Miners And Retailers Lead UK Stocks Higher

LONDON (Alliance News) - UK stock indices have made strong gains Tuesday morning, led higher by the mining and retail stocks, on the back of rising precious metal prices and strong bumper retail sales data. Meanwhile Barclays leads the blue chip fallers after reporting its full-year results. <

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7 Feb 2014 14:15

UPDATE 1-UK online appliances retailer AO plans March listing

By James Davey LONDON, Feb 7 (Reuters) - British online domestic appliances retailer AO plans to list its shares on the London Stock Exchange in March, joining a rush of retail flotations and providing a big payday for Chief Executive John Roberts who founded the business in 2000. The

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7 Feb 2014 10:44

2ND UPDATE: Online Domestic Appliances Retailer AO To List In London In March

LONDON (Alliance News) - Online domestic appliances retailer DRL Holdings Ltd said Friday that it will rename itself AO ahead of a stock market flotation in March. The initial public offering could value the company at up to GBP1 billion, a person familiar with the situation told Alliance News.Read more

7 Feb 2014 10:29

UPDATE: Online Domestic Appliances Retailer AO To List In London In March

LONDON (Alliance News) - Online domestic appliances retailer DRL Holdings Ltd said Friday that it will rename itself AO ahead of a stock market flotation in March. The initial public offering could value the company at up to GBP1 billion, a person familiar with the situation told Alliance News.Read more

7 Feb 2014 09:52

Online Domestic Appliances Retailer AO To List In London In March

LONDON (Alliance News) - Online domestic appliances retailer DRL Holdings Ltd said Friday that it will rename itself AO ahead of a stock market flotation in March that it expects to raise about GBP60 million in gross proceeds. AO believes it is well positioned to benefit from further growth

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7 Feb 2014 08:24

UK online domestic appliances retailer AO plans LSE listing

LONDON, Feb 7 (Reuters) - AO, the British online retailer of major domestic appliances, plans to list its shares on the London Stock Exchange, joining a rush of recent retail flotations. AO owner DRL Holdings Limited said on Friday it would be re-registered and renamed as AO PLC and expecte

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6 Feb 2014 09:47

BSkyB Chief Jeremy Darroch Joins Burberry Board As Non-Executive

LONDON (Alliance News) - Burberry Group PLC said Thursday that Jeremy Darroch, chief executive of British Sky Broadcasting PLC, has joined its board as a non-executive director and a member of its audit, remuneration and nomination committees. Darroch, in addition to his current role at BSk

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28 Jan 2014 10:10

UK BROKER RATING CHANGES: 10 Brokers Cut BG Group Price Target

LONDON (Alliance News) - The following UK shares received analyst recommendations Tuesday morning:
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FTSE 100
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LIBERUM CUTS PEARSON PRICE TARGET TO 815 (1050) PENCE
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CREDIT SUISSE RAISES BG GROUP TO 'NEUTRAL' ('UNDERP

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