• UK stock market morning note (October 08, 2015)

    The FTSE 100 is called to open slightly higher this morning but investor sentiment is likely to be cautious following the mixed performances on Wall Street and in Asia. Overnight we had domestic economic data from the RICS showing that the UK house price balance fell to +44 in September from +53 in August which was below forecast. The economic diary today also sees the Bank of England MPC interest rate decision announcement , the release of the latest US weekly jobless claims and this evening at 7.00pm a speech from the Bank of England Governor Mark Carney and the publication of the FOMC meeting minutes as well. Commodity prices are lower and on the foreign exchanges, the pound is slightly weaker against both the dollar and the euro but all the key currencies are within narrow trading ranges ahead of the Bank of England statement and Mark Carney's speech and US data announcements.

    Company Announcements


    Q1 Trading Update reports that trading was strong in the 13 weeks to 3 October 2015 both in-store and online with all categories showing a robust performance. Total sales rose 12% yoy to 202.3m and lfl growth +5.5% with the gross margin up an estimated 20bps. It also announced the acquisition of the Fogarty brand and trademarks on a worldwide basis, a leading British brand of pillows, duvets and mattress protection products.

    Contributed by SVS Securities
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