FTSE 100 called higher at the outset
The FTSE 100 is called to open higher this morning after a late recovery on Wall Street although sentiment is expected to remain cautious after the EU summit reached no conclusions on resolving the euro zone debt situation although leaders underlined their desire to keep Greece in the euro zone. Overnight we had the flash PMI data for China come in at 48.7 which compared to 49.3 in April. In terms of domestic economic news we have due for release today the second announcement of Q1 GDP which is expected to remain unchanged. This will be followed at lunchtime with US durable goods orders and the weekly jobless claims figures. Markets will also keep an eye on a speech from the ECB President this afternoon (see below). Commodity prices are mixed in trading and on the foreign exchanges, the major currencies are moving in narrow ranges.
ASOS Final Results saw PBT and exceptional items rise 43% to GBP40.9m on group revenues ahead 46% at GBP494.9m. Retail sales rose 49% with UK retail sales up 7% and international sales growing 103%. It added that it was positive in its outlook for 2012/2013 with its international roll-out continuing.
United Utilities Final Results saw a fall in underlying PBT to GBP327m (GBP329.2m) on revenue of GBP1.56bn. The total dividend for the year is raised to 32.01p a share (30p) and added that it was on track to meet its regulatory outperformance targets.
Booker Preliminary Results saw PBT up 27% to GBP90.8m on revenue ahead 9.4% at GBP3.9bn. The full year dividend is raised 37% to 2.28p a share adding that in spite of slow tobacco sales, it remains on course to meet its expectations for the year.
STOCK/MARKET: CFDREGION: EuropeCOUNTRY: United Kingdom
CATEGORY: CFDsPUBLISHED: 24 May 12