FTSE 100 called flat to slightly higher at the outset
The FTSE 100 is called to open flat to slightly higher this morning as investors wait for the release of the UK's preliminary GDP figures for Q1 to see how the economy is performing. This will be followed by the latest CBI Industrial Order Expectations survey data with attention then switching across the Atlantic for US durable goods orders and then after the UK market has shut the US Federal Reserve FOMC statement (see below). Ex-dividend factors will take off over 6 points from the FTSE 100 this morning and on the foreign exchanges, the major currencies are hardly changed pending the release of the above economic news. Commodity prices are flat to generally lower in trading.
Standard Life IMS reports long-term savings new business sales in Q1 2012 were lower at GBP5.04bn compared to the corresponding period a year ago due to weaker contributions from the UK and Canada. Third party assets under management rose to GBP76.1bn. It added that it was well-positioned to deliver continued strong growth in assets and this together with efficiency measures is expected to improve its financial performance.
Bodycote IMS reports that revenue in the three months to end March 2012 was up 6.9% on the same period a year ago or 8.3% at constant exchange rates. It added that full year expectations excluding the acquisition of Curtiss-Wright are unchaged from the time of its results in February 2012.
Sports Direct Pre-Close Trading Update notes that total sales for the 9 weeks ending 25 March 2012 were up 13.2% to GBP267.6m with gross profit ahead 13.5% at GBP99.8m. It added that it remains positive about the outlook.
STOCK/MARKET: CFDREGION: EuropeCOUNTRY: United Kingdom
CATEGORY: CFDsPUBLISHED: 25 Apr 12