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Reports UK

UK stock market morning note (February 14, 2014)

February 14, 2014, Friday, 12:40 GMT | 07:40 EST | 17:10 IST | 19:40 SGT
Contributed by SVS Securities

The FTSE 100 is called to open lower this morning with investors in cautious mood on concerns over global growth as we end the week. Today's economic diary is confined to the US with the release of industrial production data and the preliminary reading of the University of Michigan consumer sentiment index this afternoon. Commodity prices are flat to firmer and on the foreign exchanges, the key currencies are virtually unchanged. We end the week on a quieter note again for major corporate news.

Company Announcements

Anglo American Full Year Results see a 6% rise in underlying operating profit to USD6.62bn on revenue virtually flat at USD33.06bn. Underlying earnings declined by 7% to USD2.67bn and after special items and remeasurements the loss attributable to shareholders came in at USD961m (2012: USD1.5bn loss). Capex was USD6.3bn in 2013 with guidance for 2014 maintained at between USD7bn-USD7.5bn and reducing thereafter. The final dividend has been maintained at 53 cents to bring the total for the year to 85 cents, reflecting the company's commitment to the rebased dividend.

Severn Trent IMS reports that overall trading has been in line with its expectations and previous guidance for the period 1 October 2013 to 13 February 2014. Under its dividend policy of RPI+3% growth, the dividend for 2013/14 is set to be 80.4p, which represents an increase of 6% yoy.

Pennon IMS reports that its overall financial performance since the end of September 2013 remains on track to meet management expectations.