New York: 08:13 || London: 13:13 || Mumbai: 16:43 || Singapore: 19:13

Reports UK

UK stock market morning note (April 08, 2014)

April 8, 2014, Tuesday, 07:51 GMT | 02:51 EST | 11:21 IST | 13:51 SGT
Contributed by SVS Securities

The FTSE 100 is called to open lower this morning following the overnight performances on Wall Street and mixed outcome in Asia on concerns over US earnings. Today's economic diary sees the focus on domestic news with the release of both manufacturing and industrial production figures this morning. Commodity prices are slightly higher but range bound and on the foreign exchanges, the dollar is weaker against the pound, euro and yen but all are trading within narrow ranges. It is a quiet day again for large company news announcements this morning.


Company Announcements

McColl's Retail Group

IMS from the neighbourhood retailer reports that total sales rose 3% in the 19 weeks from 25 November 2013 to 6 April 2014 with lfl sales up 1.4%. Its convenience estate development is described as 'on-track' and it now has a total of 725 convenience stores accounting for 56% of its total store base of 1,279. According to the company, the agreement it has with the Post Office provides it with potential to accelerate its growth strategy. It added that it had made a good start as a public company following its IPO in February 2014 and that the convenience market fundamentals remain very positive.

Porvair

AGM Statement and IMS report that the specialist filtration and environmental technology company has made a good start to the 2014 financial year. In the 4 months to end March 2014, revenues were up around 23% on the same period a year ago with underlying revenue growth in constant currency terms +11%. It added that the outlook is encouraging with order books healthy and its several large engineering projects progressing according to plan.