• UK stock market morning note (September 15, 2015)

    The FTSE 100 is called to open higher this morning despite the mixed overnight performances on Wall Street and in Asia as investors remain focused on the outcome of the Federal Reserve meeting later this week. The economic diary today sees the release of domestic inflation data, US retail sales numbers and US industrial production figures. Commodity prices are range bound and on the foreign exchanges, the major currencies are also trading within narrow ranges ahead of these data releases.


    Company Announcements

    London Stock Exchange

    It has confirmed the sale of Proquote, its market data vendor and retail trading provider in the UK to IRESS, an ASX listed company and leading supplier of technology for financial markets, wealth management and the mortgage industry in the UK and Australia. The deal also includes LSEHub and financial terms were not disclosed. The transaction is expected to be completed in Q4 2015 after Proquote was seen as not central to the strategy going forward for the enlarged Information Services Division.

    Kingfisher

    Interim Results sees adjusted sales up 3.5% in constant currency terms to 5.38bn and adjusted PBT down 2.3% to 384m with strong UK profit growth offset by 29m adverse foreign exchange movements on the translation of non-sterling profits. The interim dividend is raised 1% to 3.18p a share. It noted the solid early progress with its 'ONE' Kingfisher plan and the rationalisation of its retail operations being on track in terms of B&Q and Screwfix UK expansion. It added that in the short term it remains encouraged by the macro-economic backdrop in the UK but is still cautious on the outlook for France.

    ARM Holdings

    Analyst and Investor Day will cover off the company's investment strategy with a particular focus on mobile computing, enterprise infrastructure and the Internet of Things with the investments announced today resulting in additional revenues and operating costs. The latter will ramp through 2016 and are expected to grow to 40m for FY2017, whereupon these will grow more modestly. The investment is expected to add about $40m of revenues in 2016 rising to $200m in 2020.

    Contributed by SVS Securities
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