FTSE 100 called lower at the outset
The FTSE 100 is called to open lower this morning following mixed performances on Wall Street and in Asia overnight as investors look to consolidate on the gains this week. The economic diary today will focus on the release of the UK's public sector finance numbers and the outcome of the euro group meetings. In the case of the latter, this is expected to officially approve the Spanish banking sector bail out with investors wanting to see more details of how this will work. Commodity prices are flat to lower and on the foreign exchanges, the pound is up against the euro and lower against the dollar but within narrow trading ranges.
Vodafone IMS reports that group service revenue for the quarter to end June rose 0.6% to GBP9.98bn with continued service revenue growth in emerging markets but overall group revenue on a reported basis fell 7.7% to GBP10.77bn. Verizon Wireless saw service revenue grow over 8% driven by data. There was mixed trends in Europe with Italy and Spain remaining challenging although Germany saw strong service revenue growth. Group data revenue grew 17.1%, reflecting a rise in Europe smartphone penetration. It added that trading in Q1 was consistent with management's expectations and confirmed its outlook for the 2013 financial year.
Close Brothers Trading Statement reports that whilst the Banking division has continued to experience good growth, in securities, difficult market conditions continue to impact Winterflood and its H2 performance is expected to be broadly in line with H1. It added that overall it continues to expect a solid performance for the year.
Anglo American Q2 Production Report notes higher iron ore, export coal and copper output but lower refined platinum and diamond output in the period.
STOCK/MARKET: CFDREGION: EuropeCOUNTRY: United Kingdom
CATEGORY: CFDsPUBLISHED: 20 Jul 12