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Reports UK

UK stock market morning note (December 20, 2013)

December 20, 2013, Friday, 09:51 GMT | 04:51 EST | 14:21 IST | 16:51 SGT
Contributed by SVS Securities

The FTSE 100 is called to open higher this morning although gains may be limited as volumes now start to become thinner in the run-up to the festive period. Overnight we had domestic economic data showing that UK consumer confidence fell slightly for the third consecutive month to -13 (-12) which was put down to how well or badly off people are actually feeling. Today's economic agenda mainly focuses on the UK with the release of current account data, public sector finances and the final measure of GDP for Q3. These will be followed in the US at lunchtime with their final GDP outcome for Q3. Commodity prices are flat to higher and on the foreign exchanges, the dollar is stronger against the pound, euro and yen and in the case of the latter is now holding well above the Y104 level. It is a quiet finish to the week for major corporate news.

Company Announcements

BG Group Declaration of Commerciality for the Carioca Area. It has confirmed that its partner, Petrobas the operator of block BM-S-9 in the pre-salt Santos Basin has submitted a declaration of commerciality in respect of the oil and gas accumulations in the Carioca area, offshore Brazil. The consortium has suggested that the new field be named Lapa with BG having a 30% interest in the concession.