London open: Traders in holding pattern ahead of Eurogroup meeting
UK stocks began the morning moving slightly lower on the heels of weaker than forecast Japanese growth domestic product (GDP) figures, overnight, and ahead of a critical meeting of Eurozone finance ministers, on Monday evening.
888 Holdings (DI)
80.75p
16:40 25/04/24
Balfour Beatty
361.40p
16:45 25/04/24
Construction & Materials
9,698.52
17:09 25/04/24
Food & Drug Retailers
3,915.61
17:09 25/04/24
FTSE 100
8,078.86
17:14 25/04/24
FTSE 250
19,601.98
17:09 25/04/24
FTSE 350
4,434.34
17:09 25/04/24
FTSE All-Share
4,387.94
16:49 25/04/24
FTSE Small Cap
6,412.53
17:14 25/04/24
Hunting
360.00p
16:45 25/04/24
Oil Equipment, Services & Distribution
4,928.34
16:30 11/04/24
Tesco
289.80p
16:45 25/04/24
Travel & Leisure
7,552.90
17:09 25/04/24
Traders are watching to see if Greece’s new government and the European Union are able to thrash out a compromise deal to solve the country’s debt burden or at least to ensure its access to external financing while a solution is found.
As of 08:47 the FTSE 100 was trading lower by 9 points to 6,864.
Speaking to German broadcaster Deutschlandfunk on the probability that he attached to the possibility of reaching such an agreement, the country’s finance minister, Wolfgang Schaeuble, said: "From what I've heard about the technical talks over the weekend, I'm very sceptical, but we will get a report today and then we'll see."
Japan’s GDP expanded at an annualised pace of 2.2% over the last three months of 2014, data from Japan's Cabinet Office revealed on Monday morning.
That was well below the 3.5% expected by economists.
Acting as a backdrop, the Confederation of British Industry (CBI) revised its estimate for growth in the UK economy this year to 2.7%, up from its previous calculation of 2.5%.
To take note of as well, writing in the FT’s weekend edition John Authers called attention to the recent tepid rate of growth in company revenues in the US and Europe, when compared to what appeared to be robust growth in company profits.
Oil price moving too quickly to make predictions, Hunting says
Shares in oilfield services firm Hunting reeled after the company said that it “does not believe that it is appropriate at this stage to provide financial guidance for 2015,” due to the rapid changes in the price of oil.
Online gambling group 888 Holdings was “unable” to agree on the terms of a possible takeover by William Hill and talks have been called off. The company, which on 10 February confirmed speculation that it was in discussions with the high street bookie, said on Monday that the decision follows concerns from a key shareholder.
Tesco could slash up to 10,000 jobs as part of its attempts to halt a slide in profits, according to the Sunday Telegraph.
Balfour Beatty has disposed of an 80% interest in the Thanet offshore transmission project for £40m. The 80% share has been acquired by funds managed by core infrastructure asset manager Equitix, according to an investor note released on Monday.
techMARK 3,116.52 -0.37%
FTSE 100 6,862.99 -0.15%
FTSE 250 16,830.71 -0.10%
FTSE 100 - Risers
SABMiller (SAB) 3,528.00p +2.04%
Aberdeen Asset Management (ADN) 456.30p +1.65%
Taylor Wimpey (TW.) 142.10p +1.14%
Glencore (GLEN) 289.75p +1.10%
Anglo American (AAL) 1,216.00p +0.95%
easyJet (EZJ) 1,723.00p +0.94%
Coca-Cola HBC AG (CDI) (CCH) 1,174.00p +0.86%
International Consolidated Airlines Group SA (CDI) (IAG) 558.50p +0.81%
HSBC Holdings (HSBA) 603.00p +0.80%
Royal Mail (RMG) 449.60p +0.69%
FTSE 100 - Fallers
Fresnillo (FRES) 846.50p -3.70%
Intertek Group (ITRK) 2,501.00p -3.62%
Centrica (CNA) 279.10p -2.75%
Weir Group (WEIR) 1,848.00p -2.33%
United Utilities Group (UU.) 939.00p -1.57%
SSE (SSE) 1,545.00p -1.47%
Admiral Group (ADM) 1,440.00p -1.30%
BG Group (BG.) 962.20p -1.29%
National Grid (NG.) 879.80p -1.17%
Rolls-Royce Holdings (RR.) 933.50p -1.16%
FTSE 250 - Risers
Jimmy Choo (CHOO) 172.60p +5.24%
Supergroup (SGP) 1,041.00p +3.89%
Bwin.party Digital Entertainment (BPTY) 86.70p +3.77%
Nostrum Oil & Gas (NOG) 505.50p +2.41%
Melrose Industries (MRO) 284.00p +1.94%
esure Group (ESUR) 232.10p +1.84%
AL Noor Hospitals Group (ANH) 997.50p +1.79%
Ophir Energy (OPHR) 143.80p +1.77%
Lonmin (LMI) 165.90p +1.59%
Telecom Plus (TEP) 1,217.00p +1.59%
FTSE 250 - Fallers
Hunting (HTG) 474.70p -4.35%
Afren (AFR) 7.00p -3.85%
Fidessa Group (FDSA) 2,376.00p -3.81%
Petrofac Ltd. (PFC) 779.50p -2.56%
Indivior (INDV) 163.00p -2.04%
Oxford Instruments (OXIG) 721.50p -1.97%
Pace (PIC) 329.60p -1.96%
Centamin (DI) (CEY) 67.95p -1.74%
Thomas Cook Group (TCG) 125.90p -1.64%
Telecity Group (TCY) 936.50p -1.63%