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Reports UK

UK stock market morning note (April 24, 2014)

April 24, 2014, Thursday, 09:25 GMT | 04:25 EST | 13:55 IST | 16:25 SGT
Contributed by SVS Securities

The FTSE 100 is called to open higher this morning despite the subdued performances overnight on Wall Street and in Asia. Today's economic diary sees the release of CBI realised sales, a speech from the European Central Bank President, Mario Draghi, the latest US weekly jobless claims and core durable goods orders. Commodity prices are flat to firmer and on the foreign exchanges, the dollar is slightly weaker against the pound, euro and yen but all are within narrow trading ranges ahead of these data releases and Draghi's speech.

Company Announcements

Travis Perkins

IMS reports that the year has started in line with expectations with total sales growth in Q1 of 15.6%, 14.2% on a comparable trading days basis and lfl sales growth of 12.7%, noting that this performance was helped by weak 2013 comparatives. It added that lead indicators for its different markets were encouraging and it remains on course to meet its targets set out in February 2014.


Q1 Results see sales of EUR11.4bn, a decline of 6.3% on the same period a year ago due to currency factors but underlying sales grew 3.6% with emerging markets ahead 6.6%. Underlying volume growth came in at 1.9% and pricing was up 1.6%. It added that it remains focused on achieving another year of profitable volume ahead of its markets, steady and sustainable core operating margin improvement and strong cashflow.


Q1 Results see revenue up 3% at constant exchange rates (CER) at USD6.4bn with core EPS down 11% at CER to USD1.17. It noted that the period had seen continued momentum across the business with the revenue growth reflecting the increasing contribution from the five growth platforms that showed strong performance.

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