• UK stock market morning note (September 28, 2015)

    The FTSE 100 is called to open lower this morning following the indifferent performances on Wall Street on Friday and overnight in Asia with certain markets in the latter region including Hong Kong shut for national holidays as investors begin the week in cautious mood. There is no major economic data due for release today although several US Federal Reserve members are due to speak at various times. 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 within narrow trading ranges ahead of these speeches from FOMC members.

    Company Announcements


    Following confirmation on 5 June 2015 that it was in the early stages of discussions with Liberty Global on the possible exchange of selected assets between the two companies, it has announced today that these talks have now terminated.

    Speedy Hire

    Trading Update from the tool, equipment and plant hire services company reports that following the disappointing start to the current financial year, it implemented a number of remedial actions to address the leagcy issues it had identified. However, it notes that resolution of the latter is taking longer than originally anticipated. Current year core hire revenue in the UK and Ireland is now expected to be c. 10% below the prior year. It added that it anticipates profitability will be weighted towards the H2 of the year and materially below current market expectations.

    Contributed by SVS Securities
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