• UK stock market morning note (September 25, 2015)

    The FTSE 100 is called to open higher this morning despite the mixed overnight performances on Wall Street and in Asia with US Federal Reserve Chair Janet Yellen reiterating the case that the US was still on course to start raising interest rates 'sometime later this year' though this would depend on economic data. The economic diary today sees the Bank of England hold its Financial Policy Committee (FPC) meeting, the release of the final reading of US GDP data for Q2 and the revised reading of the University of Michigan consumer sentiment index. Commodity prices are mixed and on the foreign exchanges, the pound is slightly higher against both the dollar and the euro but all the major currencies are trading in narrow ranges ahead of these data releases. It is a quiet end to the week for major corporate news.

    Company Announcements

    HSS Hire

    It has announced that current CEO Chris Davies is stepping down from his position after 9 years with immediate effect to be replaced by John Gill current COO. However, Chris Davies will remain with the company until the end of the year to assist in a smooth handover. The company noted that current trading remains in line with market expectations with conditions consistent with those outlined at the Interim Results in August. It added that John Gill has been closely involved in developing and implementing the company's distribution and logistics strategy and is ideally placed to lead the rebasing of its cost structure and make improvements to the operating margin. John Gill joined HSS in 2009 as CFO becoming COO in 2014 and was previously FD at Screwfix Direct, a subsidiary of Kingfisher and prior to that held a number of roles at Kingfisher and GE Capital.

    Contributed by SVS Securities
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