LONDON (Alliance News) - Stock prices in London are called for a positive start on Friday, following Asian markets higher after progress was reported in talks between the US and China. IG futures indicate the FTSE 100 index is to open 28.7 points higher at 7,263.03. The blue chip index closed up 40.14 points, or 0.6%, at 7,234.33 on Thursday. US and Chinese trade teams on Friday resumed negotiations in Beijing to end months-long trade frictions.Chinese Vice Premier Liu He welcomed US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin at a government guesthouse in Beijing for the second and last day of talks.Liu is scheduled to travel to Washington next week, as the top officials continue negotiations over issues such as intellectual property protection, the amount of imports, forced technology transfers and government subsidies.The two teams will "spare no effort" in carrying negotiations meant to end a months-long trade war, Chinese Commerce Ministry spokesman Gao Feng said Thursday.Market sentiment was boosted by a report by Reuters saying the two countries have made "unprecedented" progress on the thorny issue of technology transfer. "Reports China made unprecedented offers regarding technology transfers, in addition to other sticking points is adding to optimism both negotiating teams are on the right track. US economic advisor Larry Kudlow advised the talks may last some time," said London Capital Group's Jasper Lawler."This could have hit the markets in a negative capacity. However, his suggestion some tariffs on Chinese imports could be removed sweetened the blow immensely."In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average closing up 0.4%, the S&P 500 also up 0.4%, and the Nasdaq Composite ending up 0.3%. The Japanese Nikkei 225 index closed up 0.8%. In China, the Shanghai Composite ended up 3.2%, while the Hang Seng index in Hong Kong is up 1.0%.In UK corporate news, AstraZeneca is planning a USD3.5 billion equity placing as part of a USD6.9 billion collaboration agreement with Daiichi Sankyo.The global development and commercialisation agreement covers the potential cancer treatment trastuzumab deruxtecan.Under the agreement, Astra will make an upfront USD1.35 billion payment to Daiichi Sankyo, half due on execution and half 12 months later, followed by contingent payments of as much as USD5.55 billion for a total of up to USD6.9 billion.Of the USD5.55 billion, USD3.80 billion will be paid out to the Japanese company for regulatory milestones and USD1.75 billion will be for sales-related milestones.The upfront USD1.35 billion payment and near-term milestones are to be covered by a new equity placing to raise approximately USD3.5 billion - more than half of which will be used to fund the transaction and ongoing collaboration.Micro Focus has reiterated guidance given in February for its current financial year, seeing "further moderation of revenue decline". Micro Focus expects constant currency revenue for the 12 months to October to fall by between 4% and 6%, compared to a 7.1% decline in its last year. Elsewhere, life insurer Chesnara has increased its annual dividend despite a big profit fall, paying a final dividend of 13.46 pence. This takes its 2018 total to 20.67p, 3% higher year-on-year.Pretax profit dropped to GBP27.0 million from GBP89.6 million, after a one-off gains the year prior, while comprehensive income has declined to GBP23.7 million from GBP86.9 million, again due to one-off gains the prior year as well as swing to a foreign exchange loss.Cash generation was strong, Chesnara said, at GBP47.8 million, up from GBP28.6 million.Its solvency ratio was 158%, from 146% year-on-year, showing the firm is "well capitalised". Chesnara's outlook is positive, it said, with the UK business in particular doing well. Veterinary group CVS reported 24% growth in revenue to GBP195.1 million for the six months to December, but pretax profit slumped 74% to GBP1.6 million. Like-for-like revenue rose 4.0%.On an adjusted basis, pretax profit fell to GBP17.4 million from GBP18.3 million. Profit has been hurt by a steep rise in administrative expenses. CVS said the result was "disappointing", and the effort going forward will be to ensure organic revenue growth, improve the gross margin, and review costs. Floor coverings firm James Halstead reported a 3.3% rise in pretax profit for the six months to 2018 to GBP24.5 million, with revenue flat at GBP126 million. James Halstead has increased its interim dividend by 3.9% to "a record" 4.0p per share. Profit was helped by an increase in higher value product sales as well as "favourable" plant performance, though was tempered by a rise in raw material prices.Looking ahead, James Halstead said its second half has started well, and the outlook is confident overall.Waste-to-energy firm Renewi has warned earnings before interest and tax at its ATM hazardous waste treatment plant will fall by around EUR25 million for its year ending March 2020, as it is assuming no shipments will be made.Overall, trading in its year ending Sunday has been in line, with the Dutch Commercial Division doing well in particular. Integration activity is on track to deliver savings of EUR30 million for the year. Renewi has extended its bank covenants to June 2020, one year on from before, and will be paying a 0.5p final dividend, giving a total of 1.45p, lower from 2.1p year-on-year. Independent News & Media reported a 2.1% drop in 2018 revenue to GBP191.0 million, with pretax profit falling 15% to GBP24.1 million.This profit performance was ahead of market expectations, the media firm said, and Independent News & Media is confident it is heading in the right direction. Revenue fell due to an 8.8% decline in advertising revenue, as well as a 6.3% fall in circulation.Fuller, Smith, & Turner said the UK competition authority has raised no questions over its beer business sale to Japan's Asahi for GBP250 million, announced January. Stockbroker Numis said trading in recent weeks has improved, though revenue for its first half ending March is set to fall 26%. It has made "strong" market share gains in Corporate Broking & Advisory, though UK equity market volumes have declined "materially". "Notwithstanding the improvement in trading in recent weeks, execution of our pipeline will likely be influenced by the evolving political outlook and the associated impact on our corporate and institutional clients," said Numis.UK Prime Minister Theresa May is battling to get her Brexit Withdrawal Agreement backed by the Commons on the day that was scheduled to see Britain quit the EU.The prime minister split the legally binding treaty segment of her Brexit deal from the declaration on future relations with the EU in order to ensure MPs could vote on it on Friday.But May faced an uphill struggle as key government allies the DUP joined Labour leader Jeremy Corbyn in saying they would vote against the move.The PM's decision to present just the Withdrawal Agreement to the Commons means it is not a third attempt to pass a "meaningful vote" on the government's Brexit deal and complies with rules laid down by Commons Speaker John Bercow."Westminster will remain in focus as there is talk MPs will be asked to vote on the withdrawal agreement, but not the 'political declaration'", said David Madden at CMC Markets UK. "Should the vote take place, it stands a slim chance of being passed as the DUP are staunchly opposed to prospect of Northern Ireland being treated differently to Great Britain post Brexit, and if the DUP vote it down, the anti-EU ERG are likely to follow suit."UK consumer confidence remained negative in March, a monthly survey showed on Friday, though fears over the general economy persist.The GfK UK Consumer Confidence Index reading for March was minus 13, the same as February's score. A year ago, however, the reading had been minus 7."Against a backdrop of stable inflation and a robust labour market, where wages continue to grow more quickly than prices, confidence has remained negative but fairly stable since the referendum," said Joe Staton, client strategy director at GfK, a market research company."However, while UK consumers report a small increase in optimism for their personal financial situation for the coming year, the index is being dragged down by our nagging fears for the general economy," he noted. "Things might change when people feel the current crisis has passed but what sort of resolution can consumers reasonably contemplate just now? Or are consumers rightly sensing a bumpier economic climate for post-Brexit Britain?"The economic events calendar on Friday has France's inflation readings at 0745 GMT, German unemployment figures at 0855 GMT and UK fourth-quarter GDP data at 0930 GMT. In the afternoon there is US personal spending data at 1230 GMT, including the core personal consumption expenditure index reading - the Fed's preferred inflation measure.
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UK dividends calendar - next 7 days
Friday 28 June | |
AJ Bell PLC | dividend payment date |
Albion Technology & General VCT PLC | dividend payment date |
Alliance Trust PLC | dividend payment date |
Anexo Group PLC | dividend payment date |
Balanced Commercial Property Trust Ltd | dividend payment date |
BlackRock World Mining Trust PLC | dividend payment date |
BP PLC | dividend payment date |
British Smaller Cos VCT2 PLC | dividend payment date |
Card Factory PLC | dividend payment date |
CT UK Capital & Income Investment Trust PLC | dividend payment date |
Develop North PLC | dividend payment date |
Diversified Energy Co PLC | dividend payment date |
Downing Renewables & Infrastructure Trust PLC | dividend payment date |
Eleco PLC | dividend payment date |
Empiric Student Property PLC | dividend payment date |
Energean PLC | dividend payment date |
Equals Group PLC | dividend payment date |
Fair Oaks Income Ltd | dividend payment date |
Fair Oaks Income Ltd Realisation | dividend payment date |
FDM Group Holdings PLC | dividend payment date |
Foresight VCT PLC | dividend payment date |
H&T Group PLC | dividend payment date |
Henderson European Focus Trust PLC | dividend payment date |
HICL Infrastructure PLC | dividend payment date |
Hilton Food Group PLC | dividend payment date |
Imperial Brands PLC | dividend payment date |
JLEN Environmental Assets Group PLC | dividend payment date |
JTC PLC | dividend payment date |
Keller Group PLC | dividend payment date |
Keywords Studios PLC | dividend payment date |
Learning Technologies Group PLC | dividend payment date |
Lords Group Trading PLC | dividend payment date |
LSL Property Services PLC | dividend payment date |
Microlise Group PLC | dividend payment date |
NextEnergy Solar Fund Ltd | dividend payment date |
Nexus Infrastructure PLC | dividend payment date |
On the Beach Group PLC | dividend payment date |
One Media iP Group PLC | dividend payment date |
Premier Miton Global Renewables Trust PLC | dividend payment date |
Renewables Infrastructure Group PLC | dividend payment date |
RM Infrastructure Income PLC | dividend payment date |
Sage Group PLC | dividend payment date |
Schroder Real Estate Investment Trust Ltd | dividend payment date |
SDCL Energy Efficiency Income Trust PLC | dividend payment date |
Spectra Systems Corp | dividend payment date |
Spectris PLC | dividend payment date |
SSP Group PLC | dividend payment date |
Temple Bar Investment Trust PLC | dividend payment date |
Tesco PLC | dividend payment date |
Triple Point Social Housing REIT PLC | dividend payment date |
Ultimate Products PLC | dividend payment date |
Utilico Emerging Markets Trust PLC | dividend payment date |
VH Global Sustainable Energy Opportunities PLC | dividend payment date |
Victrex PLC | dividend payment date |
Monday 1 July | |
Bellway PLC | dividend payment date |
JPMorgan UK Smaller Cos Investment Trust PLC | dividend payment date |
Marshalls PLC | dividend payment date |
Tuesday 2 July | |
Billington Holdings PLC | special dividend payment date |
BlackRock Frontiers Investment Trust PLC | dividend payment date |
Bunzl PLC | dividend payment date |
HSS Hire Group PLC | dividend payment date |
Wednesday 3 July | |
Balfour Beatty PLC | dividend payment date |
JPMorgan Global Growth & Income PLC | dividend payment date |
Thursday 4 July | |
Albion Venture Capital Trust PLC | ex-dividend payment date |
Alpha Real Trust Ltd | ex-dividend payment date |
Bank of Georgia Group PLC | ex-dividend payment date |
Big Yellow Group PLC | ex-dividend payment date |
BioPharma Credit PLC | ex-dividend payment date |
Bisichi PLC | ex-dividend payment date |
CC Japan Income & Growth Trust PLC | ex-dividend payment date |
CT Private Equity Trust PLC | ex-dividend payment date |
CT UK High Income Trust PLC | ex-dividend payment date |
CT UK High Income Trust PLC B | ex-dividend payment date |
European Assets Trust PLC | ex-dividend payment date |
Facilities by ADF PLC | ex-dividend payment date |
Fuller, Smith & Turner PLC | ex-dividend payment date |
Gulf Keystone Petroleum Ltd | ex-dividend payment date |
ICG Enterprise Trust PLC | ex-dividend payment date |
Law Debenture Corp PLC | dividend payment date |
Liontrust Asset Management PLC | ex-dividend payment date |
Manchester & London Investment Trust PLC | ex-dividend payment date |
Martin Currie Global Portfolio Trust PLC | ex-dividend payment date |
Murray International Trust PLC | ex-dividend payment date |
NewRiver REIT PLC | ex-dividend payment date |
Next 15 Group PLC | ex-dividend payment date |
Next PLC | ex-dividend payment date |
North American Income Trust PLC | ex-dividend payment date |
Paragon Banking Group PLC | ex-dividend payment date |
PayPoint PLC | ex-dividend payment date |
Premier Miton Group PLC | ex-dividend payment date |
Real Estate Credit Investments Ltd | ex-dividend payment date |
Safestore Holdings PLC | ex-dividend payment date |
Shires Income PLC | ex-dividend payment date |
Skillcast Group PLC | ex-dividend payment date |
Smiths News PLC | dividend payment date |
Treatt PLC | ex-dividend payment date |
Triple Point Energy Transition PLC | ex-dividend payment date |
UIL Ltd | ex-dividend payment date |
Union Jack Oil PLC | ex-dividend payment date |
Warehouse REIT PLC | ex-dividend payment date |
Workspace Group PLC | ex-dividend payment date |
Young & Co's Brewery PLC | ex-dividend payment date |
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