The FTSE 100 is called to open 30 points lower at 6836 (ex divs 37 points)UK Gilt 10 Year Yield 0.5274 Spot Gold $1343.48 -3.37 Brent Crude $42.14 -0.15
$ per £ 1.3017
$ per € 1.1165
€ per £ 1.1659
U.S. stocks fell, sending the S&P 500 Index down by the most in more than a week as energy producers tumbled with the price of crude, while banks shares sank and Perrigo Co.’s disappointing results weighed on health-care companies. The S&P 500 lost 0.4 percent to 2,172.61, after the measure closed a point from an all-time high. The Dow Jones Industrial Average slid 59.06 points to 18,473.99, and the Nasdaq Composite Index fell 0.5 percent after closing at a record for the second time in three sessions. The S&P 500 lost momentum earlier after slipping past its lowest points of the previous two days, around 2,178. Coupled with the market’s failure to close at a record Tuesday, chart analysts say the potential for a decline increased. The S&P 500 trimmed its annual increase to 6.3 percent and its valuation stood at the highest in more than a decade on an estimated earnings basis. The benchmark has failed to rise or fall more than 1 percent in either direction for 22 straight days, the longest such streak since 2014. The lack of price swings had sent the CBOE Volatility Index to a more than two- year low. The measure of market turbulence known as the VIX rose 6.6 percent Wednesday to 12.42.
PRESS COMMENTARY
Investors flocked to sell government bonds to the Bank of England, restoring confidence in its new £60 billion stimulus plan, which had taken a knock when it failed to attract enough sellers, FT.
COMPANY NEWS
Old Mutual PLC reported a rise in interim net profit as it benefited from lower tax expenses and said its plan to split itself into four businesses is progressing well.
Aegon NV reported a loss of 385 million euros ($430million) in the second quarter after the company sold it U.K. annuity business and interest-rate hedges backfired.
Glencore PLC reported lower second-quarter output, in line with the company's cutbacks in copper, coal, zinc, lead and oil as it sought to slash costs and pare back debt against the backdrop of volatile commodity prices.
Derwent London PLC reported a major cut in pretax profit for the first half of 2016 due to a smaller revaluation surplus and said the U.K. vote to leave the European Union "may lower activity".
Cineworld Sees Year Results In Line With Market Estimates.
Deutsche Telekom AG reported an 8.6 percent increase in second-quarter profit on surging sales at its U.S. mobile-phone unit, offsetting a revenue drop in its German home market.
TUI AG said it delivered a good performance in the third quarter, with strong trading in the U.K. and no apparent slowdown in bookings as a result of the referendum on the country's membership of the European Union.
RWE AG’s second-quarter loss narrowed 22 percent after an improved performance in the German utility’s power plant business, cost cuts and a one-time lower tax rate.
Legal & General Group PLC said it is selling its investment platform Cofunds to Dutch insurer Aegon N.V. (AEG) for 140 million pounds ($183 million).
Henkel 2Q Adj. Ebit Beats Ests, Raises 2016 Margin Forecast.
Card Factory PLC said the fall in sterling since the E.U. referendum is further squeezing its margins as it reported a rise in first half sales.
San Leon Energy PLC said it has received equity placing orders for more than $200 million at 45 pence per share to complete the acquisition of an indirect interest in OML 18, a Nigerian Oil and Gas producing field.
John Lewis of Hungerford PLC (JLH.LN) is closing its showrooms in Tunbridge Wells and Harrogate to save money.
RBS priced an additional $2.65 billion of 8.625% perpetual subordinated contingent convertible Tier 1 capital notes, which it plans to use for general corporate purposes. Source Quilter Cheviot
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