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UK stock market morning note (February 11, 2013)

The FTSE 100 is called to open flat this morning as we begin the week on a quieter note with Japan shut for a public holiday and the start of the Chinese New Year holidays gets underway. Today's economic diary will focus on any news coming out of the Eurogroup meetings and in particular the issues affecting the likes of Spain and Cyprus. Commodity prices are mixed but within narrow ranges and on the foreign exchanges, the major currencies are trading sideways ahead of the Eurogroup meetings. Read more >>>

Company Announcements

Rolls-Royce Contract Win. It has secured a USD97.3m contract from the US Air Force to support its C-130J transport fleet in 2013. 

British Land Portfolio Acquisition. It has purchased a portfolio of properties from Wereldhave for GBP183.8m. These include Ealing Broadway Shopping Centre and five retail and office properties in Baker Street, Chiswick High Road, Putney High Street, Fulham Road and Great Portland Street.

Monitise Interim Results saw revenue up 63% on the corresponding period last year to GBP27.8m with gross margins increasing to 72% (64%) driven by a greater proportion of user generated revenue. There was an EBITDA loss of GBP14.7m, in line with mangement expectations with the pre-tax loss coming in at GBP24.4m. It noted that registered users now stood at 20m compared to 6m a year ago and had entered into a strategic partnership with Venda and Monitise, Blackberry and Permatabank are to launch a Blackberry messenger mobile payments service in Indonesia. It added that it was on track for full year revenues to reach at least GBP70m and maintained gross margin expectations of at least 70%.