The FTSE 100 is called to open flat to slighly higher this morning with investors again focusing on developments concerning Greece and its potential bailout following news that the IMF may not be able to take part in any bailout programme. There is no UK economic data due for release today with the main economic focus being on the US with the revised University of Michigan consumer sentiment index. Commodity prices are mixed and on the foreign exchanges, the dollar is slightly lower against the pound, euro and yen but all the major currencies are trading within narrow ranges. It is a busy end to the week for major corporate news.
Company Announcements
Lloyds Banking Group
Half Year Results sees underlying PBT up 15% at £4.38bn with total income ahead 2% at £8.96bn. The impairment charge was down 75% to £179m and the statutory PBT rose 38% to £1.19bn, including a charge of £1.4bn for PPI and a £660m charge relating to the disposal of TSB. There is an interim dividend of 0.75p per share. It added that it was improving guidance for 2015 net interest margin and the asset quality ratio with other guidance reconfirmed.
BG Group
Q2 and Half Year Results sees EBITDA down 48% and 45% at $1.37bn and $2.96bn respectively with it maintaining the interim dividend at 14.38 cents (9.22p). E&P production in Q2 rose 19% at 703 kboed with full year guidance moved to the upper half of the 650-690 kboed range.
JD Sports
Pre-Close Trading Statement reports that performance has continued to be strong with lfl sales remaining in excess of management forecasts, although as previously noted it has suffered some loss in margin from the weakness of the euro. It now anticipates that headline PBT for the current year will be 10% ahead of the current consensus market expectations of around £110m subject to this positive performance being maintained.
Contributed by SVS Securities
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