FTSE 100 called higher at the outset
The FTSE 100 is called to open higher this morning following the big gains seen in the previous session although a degree of consolidation would appear likely. Overnight we had the British Chamber of Commerce quarterly survey out with the UK economy showing signs of growth in 2012 but still facing a slow recovery. Also on the domestic economic front we have construction PMI data to look out for and this will be followed by the final reading of Europe's GDP for Q4 2011. The afternoon will see the release of US factory orders and after the UK market has closed, the FOMC Meeting Minutes at 7.00pm UK time (see below). Commodity prices are generally mixed and on the foreign exchanges, both the pound and euro were higher against the dollar but trading within narrow ranges.
ARM Holdings Joint Venture. It has announced a JV company with Gemalto and Giesecke & Devrient which will see ARM own 40%. It will be dedicated to delivering a secure environment for advanced services running on smartphones, tablets and other smart connected devices. The cash being contributed by ARM is not significant in the context of the company's Balance Sheet.
GlaxoSmithKline Phase 3 Data for Albiglutide. It has received topline results from seven of the eight 'Harmony' Phase III studies investigating the use of albiglutide in type 2 diabetes. According to the company, data from the seven studies support progression towards regulatory filings.
Whitbread Change in Responsibilities. The Finance Director is to become the head of its Costa Coffee chain but will remain on the Whitbread Board with the departure of the current Managing Director with effect from 1 August 2012.
STOCK/MARKET: CFDREGION: EuropeCOUNTRY: United Kingdom
CATEGORY: CFDsPUBLISHED: 03 Apr 12