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UK stock market morning note (February 08, 2013)

The FTSE 100 is called to open higher this morning following the better than expected Chinese trade data. Other economic news out overnight came from Markit which showed UK work vacancies increasing at their fastest rate since April 2011, with permanent placements up for the fourth consecutive month and temporary having now grown for 6 months. Today's economic diary sees day 2 of the EU economic summit and US trade balance figures due out at lunchtime. Commodity prices are firmer on the back of the Chinese news and on the foreign exchanges, both the pound and euro are up slightly against the dollar. The corporate diary finishes the week on a quieter note for announcements.

Company Announcements

Cable & Wireless Communications IMS reports that its trading performance remains in line with its outlook with its strategy to refocus 'progressing well' and data usage growing across its portfolio. It is maintaining its 2012/13 capex guidance of USD350m and at 31 December 2012, net debt had fallen by USD39m to USD1.55bn. 

S&U Trading Statement confirms that current trading is satisfactory and it once again expects to meet market expectations. It added that subject to shareholder approval, the total dividend for the year to end January 2013 will be at least 44p as against the 41p for the previous year.