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Reports UK

UK stock market morning note (April 07, 2014)

April 7, 2014, Monday, 14:13 GMT | 09:13 EST | 17:43 IST | 20:13 SGT
Contributed by SVS Securities

The FTSE 100 is called to open lower this morning following the performances on Wall Street where technology and biotech shares were sold off on Friday and overnight in Asia where China is on a Bank Holiday. There is no major economic news due for release today for investors to focus on. Commodity prices are generally lower and on the foreign exchanges, the pound is weaker against both the dollar and the euro although the key currencies are consolidating around narrow trading ranges. It is a quieter start to the week for major corporate news.

Company Announcements


Q4 Trading Statement for the year to end March 2014 reports that underlying sales rose 12% with total sales up 13% after taking into account acquisitions. It noted strong growth across most product categories, particularly fresh pork, bacon and cooked meats and export sales well ahead of levels reported in the prior year. Record input prices during the year have impacted operating margins and despite some recovery, operating margins will as expected be slightly below those seen in the previous financial year. It added that it remains confident in the continued long term success and development of the business.

Robert Walters

IMS reports that Q1 has seen an encouraging start to the year with net fee income (NFI) up 11% in constant currency terms at GBP48.1m, the sixth successive quarter of NFI growth across all its regions on a constant currency basis. It noted a good performance across the UK, with finance and HR in particular delivering 'excellent growth' in both London and the regions. There were strong performances from Japan and Hong Kong but Australia remained challenging although there were early signs in the latter of market confidence returning. In Europe performance was described as 'robust'.


It has announced that it has signed the world's largest telematics contract to date which is in the form of a joint investment with the RAC in a new company, Connected Car Solutions to distribute Quindell and the RAC's combined connected car capabilities.