The FTSE 100 is called to open 3 points higher at 6204.
UK Gilt 10
Year Yield 1.4551%, Spot Gold $1264.15 +5.75 Brent Crude $41.92 -0.24
$ per £
1.4453
$ per €
1.1295
€ per £
1.2797
The Dow
Jones Industrial Average erased its 2016 losses, as a weaker dollar spurred a
rally in commodity producers and industrial shares that spread to the broader
U.S. stock market.Equities pushed to the highest levels since the end of last
year as a gamut of companies that benefit from a lower U.S.currency, from
General Electric Co. to Coca-Cola Co., surged. A scaled-back pace of
interest-rate increases from the Federal Reserve sent the dollar spiraling
lower, helping the Dow extend a rebound of more than 11 percent from a two-year
low reached last month. The S&P’s 500 Index rose 0.7 percent to 2,040.59,
near its break-even level for the year. The Dow added 155.73 points, or 0.9
percent, to 17,481.49, wiping out a 2016 loss that reached as much as 10 percent.
The Nasdaq Composite Index rose 0.2 percent, with an increase capped by the
slide in biotechnology companies. About 8.2 billion shares traded hands on U.S.
exchanges, 6 percent below the 2016 average.
PRESS
COMMENTARY
The new
administrator of Libor, Intercontinental Exchange, is overhauling the way it is
calculated, reducing its reliance on banker estimates in an attempt to restore
faith in the scandal-hit rate, FT.
Oil prices
rose to their highest this year, breaking through the $40 barrier, as investors
bet that markets were starting to rebalance after a production freeze led by
Russia and Saudi Arabia, Times.
Twenty-one
of the 23 analysts who cover Valeant were telling investors to buy or hold the
drug group’s shares before Tuesday’s massive sell-off, fuelling new doubts over
whether investment banks’ research is too bullish about the companies they
cover.
COMPANY
NEWS
South
Africa's Illovo Sugar Ltd. (ILV.JO) said it has received no formal offer from
Associated British Foods PLC for the shares the British firm doesn't already
own in Illovo, with talks still at a preliminary stage.
Generali
4Q Net Misses Estimates; Dividend Beats BDVD Est.
Berkeley
Group Holdings PLC (BKG.LN) said results for its fiscal year ending April 30
will be at the top end of expectations, adding that housing market has remained
stable between November to February and that it is seeing good underlying
demand for its properties.
Santander
to Improve 2016 Div/Shr by 5%: Expansion Link
BT Group
PLC (BT.A.LN) has named Simon Lowth as its new finance chief to replace Tony
Chanmugam who is stepping down from the role later this year.
M&C
Saatchi PLC (SAA.LN) Friday raised its dividend payment by 15%, as full year
pretax profit more than doubled.
Glencore
Said to Receive Two Bids for Lomas Bayas in Chile
UBS Group
AG raised its bonus pool by 14 percent in 2015, with Chief Executive Officer
Sergio Ermotti receiving a 28 percent increase, as other lenders slashed
compensation.
EDF plans
to make the final decision to go ahead with an 18 billion-pound ($26 billion)
nuclear power plant in the U.K. before its annual general meeting in May,
Telecom
Italia Posts 2015 Loss
Bang &
Olufsen A/S (BO.KO) announced a technology partnership deal with South Korea's
LG Electronics that will focus on developing the next generation of Organic
Light Emitting Diodes (OLED) televisions.
HICL
Infrastructure Co. Ltd. (HICL.LN) said it intends to raise 25 million pounds
($35.33 million) through an issue of ordinary shares in the capital of the
company by way of tap issuance. Source Quilter Cheviot
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