Market News:
FTSE 100 6804.60 -54.64 -0.80%
FTSE 250 17931.29 -159.13 -0.88%
FTSE AIM All-Share 775.74 -1.59 -0.20%
Closing
Mike van Dulken, Augustin Eden at Accendo Markets commented to
clients this morning:
FTSE 100 Index called to open up 5 points at 6810, hinting at
recovery from its drop to 6800 but yet to deliver a decisive
rebound with downtrend from end-May as yet unperturbed. Bulls still
hoping for reversal and 250pt recovery towards 7050 while Bears
egging the index on for another downside leg (130pts to April lows
6670), although watchful of 200-day MA 6771 for support. Watch
levels creeping down: Bullish 6855, Bearish 6775.
"The positive opening call comes after a choppy week with
markets spooked - mainly by Greece but with consensus-beating U.S.
non-farms aggravating worries as fickle investors pre-empted a
September interest rate rise on the other side of the pond. There
being no precedent to current issues within the Eurozone, no-one is
sure how the situation will pan out with Greece making use of
loopholes to extend deadlines and frustrated creditors seemingly
underestimating the scale of the challenge in getting their
proposals past a defiant Syriza party at large.
Following Friday's postponement of a EUR300 million IMF payment,
Athens is left with little time to make things right - a statement
oft put forward by commentators but one which has yet to deliver
any meaning in the form of either a deal or a complete breakdown in
negotiations and subsequent 'Grexit.'
Today's limited macro-data has already seen some good German
figures with its industrial production and trade balance beating
expectations while the Chinese trade balance increased dramatically
due to a fall in exports and an even bigger fall in imports
(meaning the data is more bad than good…). This will likely be met,
as it often is, by market confidence in further stimulus from the
world's #2 economy and major consumer of basic materials. Watch
FTSE miners this morning."
Companies News:
Drax FY Expectations Unchanged Despite Weak Power Market
Coal-fired power station operator Drax Group PLC (DRX.LN) Monday
said its full year expectations are unchanged as a strong
operational performance and contracts help it cope with weak power
prices.
Games Workshop Fiscal 2015 Profit To Be In Line With Market
Views
Games Workshop Group PLC (GAW.LN) said Monday that it expect
profit for the year ended May 31 to be broadly in line with market
expectations.
Victoria Oil to Exceed 2015 Production Target
Victoria Oil & Gas PLC (VOG.LN) said Monday that it expects
to exceed its 10.5 million standard cubic feet per day target for
the calendar year 2015.
Tritax Big Box REIT Proposes to Raise GBP125M Via Placing
Tritax Big Box REIT PLC (BBOX.LN) intends to proceed with an
institutional placing of new ordinary shares at a price of 113
pence per share to raise up to 125 million pounds ($190.7
million).
Mirada Sees Fiscal 2015 Trading Results in line with Market
Expectations
Mirada PLC (MIRA.LN) expects full year trading results to be in
line with market expectations, despite project delays.
Concha In On-going Investment Opportunity Talks
Concha PLC (CHA.LN) said Monday that as part of the on-going
discussions regarding a specific global opportunity within its
investment scope, the company's Asian based nonexecutive Director
Gordon Watson is stepping down.
Pendragon No Longer Buying California Dealership
Car retailer Pendragon PLC (PDG.LN) said Monday it won't be
going ahead with the acquisition of a dealership in California, as
Lexus is exercising a right to buy it.
Enables IT Group 1H15 Pretax Loss Narrows
Enables IT Group PLC (EIT.LN) Monday reported a narrowed
first-half fiscal 2015 pretax loss, despite revenue falling 23%,
due mainly to lower costs and a foreign exchange gain.
Phoenix IT Swings to Profit
Phoenix IT Group PLC (PNX.LN), an information technology
services company, Monday swung to yearly profit.
Atlantic Coal FY Pretax Loss Widens After Harsh Winter
Atlantic Coal PLC (ATC.LN), an anthracite coal company with
activities in Stockton, Pennsylvania, Monday reported a wider full
year pretax loss after being hit by the harsh winter and a fall in
coal prices.
Trans-Siberian Gold FY Production Rises, Swings to Pretax
Profit
Trans-Siberian Gold PLC (TSG.LN) Monday reported rise in gold
and silver production for 2014, as it swung to a pretax profit for
the period mainly due to a 32% reduction in cost of sales.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-9319