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London midday: Stocks rise as BoE votes to keep interest rates unchanged

Thu, 08th Oct 2015 11:07

(ShareCast News) - London stocks recovered slightly from losses earlier on Thursday as the Bank of England decided to keep interest rates unchanged.The BoE's Monetary Policy Committee voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn, as expected by analysts. Ian McCafferty was once again the only policymaker to vote for an interest rate increase."Ian McCafferty preferred to increase Bank Rate by 25 basis points, given his view that building domestic cost pressures were likely to come to outweigh the dampening influence of the appreciation of sterling, causing inflation to overshoot the 2% target in the medium term," according to the meeting minutes released alongside the policy decision.In the minutes the Bank highlighted weak inflation, low wages, potential risks from a slowdown in emerging markets as reasons for holding off on a rate rise.The market is also awaiting meeting minutes from the European Central Bank and the Federal Reserve at 1230 BST and 1900 BST, respectively.The ECB's account of its 2-3 September meeting may provide clues on whether the central bank will extend its quantitative easing programme beyond September 2016. Any discussion on a potential cut to the deposit rate will be also closely monitored.Later on, the Federal Reserve's 16-17 September meeting minutes will be under the microscope for hints on the first interest rate rise in nearly a decade.Fed Chair Janet Yellen has said policymakers expected an increase at its October or December meetings this year but last Friday's weaker-than-anticipated non-farm payrolls report prompted some analysts to push back their expectations until next year.Despite a slowing of job gains in September, Fed official John Williams said on Tuesday he still expects the central bank to begin raising rates this year. He said he believed the labour market has continued to improve and there have been no signs of a worsening global outlook."Things are looking up, and if they stay on track, I see this as the year we start the process of monetary policy normalisation," Williams said in a speech to the Urban Land Institute in San Francisco.In company news, Inmarsat slumped as the company reiterated its guidance for the year and said there's no material change in the trading environment for the group's performance.Rolls Royce rallied after saying it will step up plans to establish an Asian manufacturing capability to help the group double production with the introduction of new Boeing Co. and Airbus Group SE jets.Ladbrokes gained after appointing Kristof Fahy as chief marketing officer to lead all brand and marketing activity across digital and retail.Hays was lower as the recruitment company said currency movements have had an impact on its quarterly earnings.Glencore declined on fresh fears over the company's mounting debt and the repercussions it could have on the banking sector. Analysts at Bank of America said: "The banking industry may have significantly more exposure to Glencore than is generally appreciated in the market."Tullow Oil advanced after reaching an agreement with the government of Gabon over its licences in the Onal Complex Fields, regaining its 7.5% stake in the Onal Complex producing fields and the Ezanga block. Market MoverstechMARK 3,017.17 +0.05%FTSE 100 6,354.77 +0.29%FTSE 250 16,966.86 -0.38% FTSE 100 - RisersFresnillo (FRES) 695.00p +2.81%BHP Billiton (BLT) 1,135.00p +2.44%Tesco (TSCO) 201.00p +2.03%Shire Plc (SHP) 4,409.00p +1.85%Rolls-Royce Holdings (RR.) 747.00p +1.77%Burberry Group (BRBY) 1,478.00p +1.58%Standard Chartered (STAN) 753.00p +1.56%ARM Holdings (ARM) 951.00p +1.39%Ashtead Group (AHT) 1,000.00p +1.37%Randgold Resources Ltd. (RRS) 4,317.00p +1.36% FTSE 100 - FallersInmarsat (ISAT) 945.00p -3.18%Glencore (GLEN) 121.00p -2.42%Aviva (AV.) 472.90p -1.93%Kingfisher (KGF) 353.00p -1.53%Marks & Spencer Group (MKS) 491.60p -1.50%Wolseley (WOS) 3,704.00p -1.23%Next (NXT) 7,645.00p -1.04%Mondi (MNDI) 1,446.00p -0.89%WPP (WPP) 1,399.00p -0.71%Vodafone Group (VOD) 207.10p -0.62% FTSE 250 - RisersEvraz (EVR) 94.50p +5.59%Kaz Minerals (KAZ) 128.30p +4.65%NMC Health (NMC) 854.50p +2.95%Telecom Plus (TEP) 1,107.00p +2.69%Tullow Oil (TLW) 247.90p +2.35%Cineworld Group (CINE) 569.50p +2.34%Synthomer (SYNT) 339.80p +2.04%Drax Group (DRX) 269.20p +2.01%Informa (INF) 581.00p +1.93%Dunelm Group (DNLM) 911.00p +1.79% FTSE 250 - FallersHays (HAS) 137.30p -6.92%IP Group (IPO) 222.10p -6.25%Riverstone Energy Limited (RSE) 865.00p -5.21%Weir Group (WEIR) 1,350.00p -3.78%Vectura Group (VEC) 170.00p -3.13%Clarkson (CKN) 2,165.00p -2.87%Enterprise Inns (ETI) 105.50p -2.77%Vesuvius (VSVS) 351.00p -2.72%Sophos Group (SOPH) 226.60p -2.54%Rank Group (RNK) 260.60p -2.54% FTSE TechMARK - RisersOxford Instruments (OXIG) 623.00p +1.88%Filtronic (FTC) 6.88p +1.85%KCOM Group (KCOM) 91.75p +0.82%XP Power Ltd. (DI) (XPP) 1,650.00p +0.61%E2V Technologies (E2V) 237.00p +0.42%IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.56 +0.23%SDL (SDL) 371.75p +0.20% FTSE TechMARK - FallersNCC Group (NCC) 242.50p -4.72%Dialight (DIA) 660.00p -1.05%Skyepharma (SKP) 337.00p -0.81%Ricardo (RCDO) 898.50p -0.44%Spirent Communications (SPT) 75.50p -0.33%Consort Medical (CSRT) 935.00p -0.16%
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1 Mar 2023 12:26

CMA provisionally clears Viasat, Inmarsat merger

(Sharecast News) - The UK's Competition and Markets Authority has provisionally cleared US satellite company Viasat's £5.4bn takeover of UK rival Inmarsat following an in-depth review.

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14 Oct 2022 12:05

Viasat acquisition of Inmarsat heading to full CMA inquiry

(Sharecast News) - The competition regulator has decided to refer the planned acquisition of Inmarsat by Viasat to a full-scale inquiry, it announced on Friday.

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25 Jul 2022 12:25

CMA to review Viasat takeover of Inmarsat

(Sharecast News) - The UK's Competition and Markets Authority said on Monday that it has launched an investigation into Viasat's £6bn takeover of Inmarsat.

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8 Nov 2021 11:59

Viasat to buy UK's Inmarsat in $7.3bn deal

(Sharecast News) - California-based Viasat has agreed to buy British mobile satellite communications group Inmarsat in a $7.3bn deal.

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4 Dec 2019 16:37

Inmarsat To Be Delisted On Thursday After Acquisition Approval

Inmarsat To Be Delisted On Thursday After Acquisition Approval

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3 Dec 2019 15:52

Inmarsat takeover gets green light at court meeting

LONDON, Dec 3 (Reuters) - The takeover of Inmarsat by a private equity-led consortium was rubber stamped by London's High Court on Tuesday after a group of hedge funds earlier abandoned a challenge to the $3.4 billion deal.The scheme of arrangemen...

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3 Dec 2019 09:02

UPDATE 2-Inmarsat takeover clears final hurdle after hedge funds drop challenge

(Adds court sanction for takeover scheme)By Paul SandleLONDON, Dec 3 (Reuters) - A private equity consortium's $3.4 billion takeover of British satellite company Inmarsat was approved at a court hearing on Tuesday after hedge fund investors droppe...

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3 Dec 2019 09:02

UPDATE 1-Inmarsat takeover to clear final hurdle as hedge funds drop challenge

(Adds details)LONDON, Dec 3 (Reuters) - A private equity consortium's $3.4 billion takeover of British satellite company Inmarsat looked likely to go ahead after a group of hedge funds dropped plans to challenge the sale at a hearing on Tuesday.Th...

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3 Dec 2019 08:54

Inmarsat Deal To Go Ahead As Shareholders Back Down Over Ligado Issue

Inmarsat Deal To Go Ahead As Shareholders Back Down Over Ligado Issue

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3 Dec 2019 08:48

Hedge funds drop objections to Inmarsat takeover

(Sharecast News) - Inmarsat shareholders contesting a $3.4bn takeover of the satellite firm by private investors have dropped their objections ahead of a court hearing on Tuesday, the company said.

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3 Dec 2019 07:35

Hedge funds opposed to Inmarsat takeover drop court challenge

LONDON, Dec 3 (Reuters) - Hedge fund investors in Inmarsat said they would not object to the satellite company's takeover by a private equity-led consortium at a court hearing on Tuesday after the buyers said on Monday they would not increase or ...

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2 Dec 2019 09:35

Connect Bidco Will Make No Change To Inmarsat Offer Or Long Stop Date

Connect Bidco Will Make No Change To Inmarsat Offer Or Long Stop Date

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20 Nov 2019 11:59

UPDATE: Inmarsat Recommends Offer Despite Potential For Ligado Income

UPDATE: Inmarsat Recommends Offer Despite Potential For Ligado Income

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20 Nov 2019 09:59

Inmarsat Third-Quarter Profit Drops As No Revenue Booked From Ligado

Inmarsat Third-Quarter Profit Drops As No Revenue Booked From Ligado

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20 Nov 2019 09:58

Inmarsat profit slumps as Ligado payments paused

(Sharecast News) - Pre-tax profits at satellite operator Inmarsat slumped in the third quarter as revenue was hit by a pause in payments from US communications company Ligado Networks.

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