The FTSE 100 is called to open 27 points
lower at 7261
UK Gilt 10 Year Yield 1.080 Spot Gold
$1267.09 -2.19 Brent Crude $52.20 -0.17
$ per £ 1.2881
€ per £ 1.1814
$ per € 1.0903
Stock indexes wobbled between modest gains
and losses Wednesday, as the White House unveiled broad outlines of its plan to
slash tax rates but left many of the details to be determined. The S&P's
500 index slipped by 1.16 points, or less than 0.1 percent, to 2,387.45. The
Dow Jones industrial average lost 21.03 points, or 0.1 percent, to 20,975.09.
The Nasdaq composite slipped 0.27 points, or less than 0.1 percent, to
6,025.23. The Russell 2000 index of smaller-company stocks rose 8.35, or 0.6
percent, to 1,419.43.
PRESS COMMENTARY
The Trump administration unveiled what it
called the biggest tax cuts “in history” on Wednesday, in a move that will
simplify the US tax system, slash taxes, eliminate inheritance taxes and set
the president on a collision course with Congress over the likely $2
trillion-plus cost of the proposal, Guardian.
COMPANY
NEWS
AstraZeneca Plc’s first-quarter profit
jumped 4 percent, beating analysts’ estimates, as the company pared expenses
amid declining sales of old blockbusters.
BASF SE reported its highest quarterly
profit in close to five years, bolstered by recovering crude prices and demand
for materials and chemicals used in car parts and construction.
WPP Plc said first-quarter revenue rose 17
percent as currency swings and acquisitions lifted sales, and said new-business
momentum picked up.
Total SA posted a 56 percent increase in
first-quarter profit, beating analysts’ estimates as crude prices rebounded and
the French giant continued to cut costs while increasing oil and gas
production.
DS Smith Says Volume Growth Has Been
’Good’.
Taylor Wimpey PLC said Thursday it is well
positioned to achieve its medium term targets as strong customer demand helped
lift its order book during the first quarter of the year.
Lloyds isn’t getting bruised by Brexit so
far. Britain’s largest mortgage bank boosted its target for lending margins
this year, even amid record-low U.K. interest rates introduced in the wake of
the nation’s vote to leave the European Union.
Cobham Says Expectations for Financial Year
Remain Unchanged.
Nokia Oyj reported first-quarter sales that
topped analysts’ estimates as a slump in wireless-network demand began to
stabilize and the company reaped more revenue for its patents.
Schroders PLC reported a rise in
first-quarter assets under management, adding the business has continued to
perform well in the first three months of 2017.
Deutsche Bank AG’s John Cryan is keeping
investors waiting for the return to growth he promised, as trading revenue at
Europe’s largest investment bank trailed peers in the first quarter.
Weir Group IMS Solid, Triggers Slight Rise
in Estimates: Goldman.
Meggitt Says 1Q Trading In Line With
Expectations.
Vodafone Group PLC and Proximus have
renewed their strategic partnership for Belgium and Luxembourg for a further
five years, the U.K. telecom company said Thursday.
Hermes Q1 Sales Rise 13.5% to EUR1.35
Billion.
Persimmon PLC reported a strong start to
calendar year 2017, with total forward sales revenue including legal
completions in the year to date up by 11% from last year at 2.56 billion pounds
($3.30 billion).
Aggreko News Demand Surges; Stock Advanced
5.5%.
Countrywide PLC Thursday maintained its
full year expectations as it reported that the company's performance during the
first quarter of the year has been in line.
Travis Perkins Says Start to 2017 Is in
Line With Expectations.
N Brown Adj. Pretax Profit Falls 8.7%;
Gross Margin Drops.
Jardine Lloyd Thompson Group PLC said it has made a good start to 2017 and the
company remains confident of delivering organic revenue growth in line with
historical rates, generating sustained year-on-year financial progress. Source
Quilter Cheviot
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