London pre-open: Stocks to kick week off on back foot

Michele Maatouk WebFG News | 06 Nov, 2017 07:40 - Updated: 07:40 | | |

London Stock Exchange AIM LSE shares

London stocks were set for a weaker open on Monday following an uninspiring Asian session.

The FTSE 100 was expected to open 15 points lower at 7,545.

There are no major UK data releases due, so market participants will likely eye the release of the eurozone services PMI.

David Madden at CMC Markets said: “Today, Spain, Italy, France and Germany will reveal the final reading of the services PMI reports. Keep in mind that manufacturing figures from the eurozone were robust last week. The single currency has been weakened by the European Central Bank (ECB) as they have left the door open to a round of quantitative easing.”

In corporate news, challenger bank Aldermore reported 12% growth in net loans in the third quarter, in which it received and recommended a bid from South Africa's First Rand bank.

Aldermore lent £8.4bn in the quarter, up from £7.5bn in the same quarter last year, driven by £2.4bn of new lending and with net interest margin remaining unchanged from the first half of the year at 3.5%

Plastics maker Synthomer said volumes of sales in the third quarter remained flat on last year and that it continued to hunt for acquisition opportunities.

Targets for the full year 2017 were unchanged from the interim results in August, underpinned by resilient trading in Europe and the Asian Nitrile market continuing to evolve in line with our expectations.

EasyJet passenger numbers rose 9.9% in October as the load factor ticked higher.

Traffic at the budget airline increased to 7.5m last month from 6.8m in October 2016, as the load factor - which gauges how the full the planes are - edged up to 92.5% from 90.2%.

On a rolling annual basis, traffic was up 10% to 80.9m as the load factor rose to 92.8% from 91.3%.

More news

17 Nov Europe close: Stocks slip going into the weekend

Stocks reversed early gains as investors opted to play it safe going into the weekend and the euro edged a tad higher on the back of the political gyrations on Capitol Hill.

17 Nov Europe open: Stocks start slightly higher, analysts wary

Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce.

17 Nov London close: Stocks finish week on down note

London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.

17 Nov Kingfisher gets RBC upgrade as 'reasons to be cheerful' in France

DIY retailer Kingfisher has more "reasons to be cheerful" thanks to an improving French outlook, analysts at RBC Capital Markets said on Friday, while clothes seller Supergroup remains "compelling" but its shares have gained a lot in recent weeks.

17 Nov NAV on the rise as Alpha Real Estate Trust turns focus to build-to-rent market

Real estate investment group Alpha Real Trust saw its net asset value (NAV) rise in its first half of trading as it moved to make further investments in build-to-rent projects.

17 Nov Pacific Industrial & Logistics completes sale of Bedford asset

Industrial and logistics-focussed real estate investment trust Pacific Industrial & Logistics has completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of £5.8m, it announced on Friday.

17 Nov DP Poland cuts ribbon on 50th Polish Domino's store

DP Poland, which holds the exclusive master franchise for the Domino’s Pizza brand in Poland, celebrated the opening of its 50th location in the country on Friday.

17 Nov Mercia Technologies makes new investment into Aston EyeTech

National investment group Mercia Technologies has made a new direct investment into Aston EyeTech - a spinout from Aston University, Birmingham - which has developed a range of proprietary hardware and software products in ocular care, it announced on Friday.

17 Nov SimiGon receives final approval for $2m Israeli Air Force order

Modelling, simulation and training solutions provider SimiGon has now received final regulatory approval for a $2m purchase order received from the Israeli Air Force, initially announced on 20 June 2016, it confirmed on Friday.

17 Nov Agriterra losses grow after 'subdued' interest in corn products

Agricultural investment group Agriterra saw losses widen in the first half of its trading year as subdued demand for its maize flour products slashed revenues by more than a third.