The FTSE 100 is called to open 88 points higher at 6124.
UK Gilt 10 Year Yield 1.5385%, Spot Gold $1269.00 -3.35
Brent Crude $41.01 +0.75
$ per £ 1.4273
$ per € 1.1163
€ per £ 1.2786
U.S. stocks closed little changed after swinging between
gains and losses, as investors assessed fresh stimulus measures unleashed by
the European Central Bank and whether selling Thursday went too far in the face
of the new initiatives. Equities stormed back in a final-hour rebound, with
major indexes wiping out declines that had reached more than 1 percent. An
earlier retreat was led by industries that were among the biggest contributors
to a three-week rally, including banks and technology companies. JPMorgan Chase
& Co. slipped 0.9 percent and Microsoft Corp. dropped 1.5 percent. The
Standard & Poor’s 500 Index rose less than 0.1 percent to 1,989.57 at 4
p.m. in New York, after climbing as much as 0.8 percent and dropping 1 percent.
The Dow Jones Industrial Average lost 5.23 points, or less than 0.1 percent, to
16,995.13. The gauge lost 178 points at the session low. The Nasdaq Composite
Index fell 0.3 percent. About 8.4 billion shares traded hands on U.S.
exchanges, 5.6 percent below the average in 2016.
PRESS COMMENTARY
Financial Times: The European Central Bank has unleashed a
bigger than expected package of measures to stimulate the eurozone economy,
with expanded quantitative easing, incentives to banks to increase lending and
further interest rate cuts.
The Daily Telegraph: Another steep slide in oil reversed
early gains made on the FTSE 100 following the European Central Bank’s move to
slash interest rates and boost its quantitative easing programme.
COMPANY NEWS
Old Mutual PLC has announced plans to separate its four main
businesses--Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank and OM
Asset Management--as it reported a 5% rise in 2015 net profit. The banking and
investment company expects to complete the separation by the end of 2018. It
also plans to reduce its 40% stake in Nedbank, a South African lender, by
distributing its shares to Old Mutual holders. It doesn't plan to sell any of
Nedbank to a new strategic investor. The board plans to declare an unchanged
second interim dividend of 6.25 pence a share, making a total payout for the
year of 8.9 pence, up from 8.7 pence in 2014.
JD Wetherspoon PLC (JDW.LN) Friday posted a 2.2% drop in
pretax profit during the fiscal 2016 half year-end as margins fell due mainly
to increased labour costs. The pubs operator recorded pretax profit of 36.6
million pounds ($52 million) during the 26 weeks ended Jan. 24, compared with
GBP37.5 million a year earlier on revenue of GBP790.3 million and GBP744.4
million respectively.
ArcelorMittal Announces 7 for 10 Rights Issue of 1.26b new
shares, subscription price EU2.20/new share. Subscription price represents
35.3% discount to theoretical ex-rights price, based on March 10 close on
Euronext Amsterdam. Mittal family trust entities committed to exercise their
Rights for new shares pro rata to their current shareholding of 37.38%.
Computacenter 2015 Sales In Line; Sees Year of Further
Progress. 2015 adj. rev. GBP3.05b vs GBP3.06b, est. GBP3.07b. 2015 adj. pretax
profit GBP86.9m vs GBP81.1m, est. GBP85.6m. 2015 adj. EPS 53.4p vs 44.1p, est.
51p. Proposes div. of 21.4p/shr vs 19p/shr.
VW Unit MAN SE Reports 2015 EU92m Op. Profit After Sales
Drop. Truckmaker sees 2016 commercial-vehicle sales level with last year,
forecasts “slight” drops in group, commercial-vehicle revenue following
“challenging” 2015, according to e-mailed statement.
Source Quilter Cheviot
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