The FTSE 100 is called to open slightly higher this morning following the overnight performances on Wall Street and in Asia which saw the S&P finish at another new high as the UK prepares for its Bank Holiday weekend. The economic diary today sees the release of domestic public sector borrowing figures and at lunchtime in the US inflation data. There are also speeches from the ECB President Mario Draghi and the Bank of England Governor Mark Carney during the session and at 6.00pm UK time a speech from the US Federal Reserve Chair Janet Yellen. Commodity prices are mixed and on the foreign exchanges, the dollar is weaker against the pound, euro and yen ahead of these data releases and speeches.
Company Announcements
Whitbread
It has announced that Alison Brittain has been appointed Chief Executive to succeed Andy Harrison. She will join the company on 4 January 2016 and is currently Group Director, Retail Division of Lloyds Banking Group which she joined in 2011. She previously held senior roles at Santander UK and Barclays and is also a Non-Executive Director of Marks & Spencer.
Close Brothers
IMS/Q3 reports that the banking division continued to deliver a solid performance with the loan book up 6.1% year to date to £5.6bn, market conditions for Winterfloods improved in the quarter with an increase in investor risk appetite and assets under management rose 9% year to date to £10.6bn with 'solid net inflows' and benefiting from positive market movements. It added that overall the group remains well positioned for the remainder of the current financial year, noting that in banking it expects to deliver continued loan book growth at good returns and whilst Winterfloods has benefited from an improved trading environment, it does remain sensitive to market conditions.
Contributed by SVS Securities
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