CFD Morning Report Fri 12 March 2010
FTSE 100 called higher at the outset. Today's trade is Next and to find out our view please click to register.
Market News and Views
- The FTSE 100 is called to open higher this morning buoyed by a late rally on Wall Street helped by rising bank shares, with the S&P hitting a 17-month high, although ongoing concerns about fiscal tightening by China are seen as limiting the advance. A quieter end to the week in terms of domestic corporate and economic news with investors again turning their attention to the US later in the session with US retail sales and consumer sentiment figures due out (see below). Today's trade is short Next at 2020p, stop 2060p, target 1975p.
Today´s Company announcements
- Aga Final Results saw EBITDA (before non-recurring costs) falling from £24.6m to £12.6m and an overall PBT of £0.5m (£14.4m) on sales lower at £245m. Cash balances rose to £28m (£5.8m) with markets improving as the year progressed. It expects to contribute an additional £2m this year and next into its pension scheme and given the profit decline and market uncertainties it concluded it would not be appropriate to pay a dividend for 2009. The company added that after a slow order intake at the start of the year, prospects are encouraging heading into the Spring.
||Core Retail Sales mom
||Retail Sales mom
||Prelim Univ of Michigan Consumer Sentiment
COUNTRY: United Kingdom
PUBLISHED: 12 Mar 10