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UK stock market morning note (February 18, 2013)

The FTSE 100 is called to open flat to lower this morning with investors starting the week in cautious mood. There is no major economic data due for release today with investors looking ahead to this afternoon when the ECB President is due to give a speech. Overnight two domestic surveys showed that UK consumer finances remain tight but another report indicated further jobs growth in Q1. Commodity prices are mixed and on the foreign exchanges, both the pound and euro are slightly lower against the dollar. This follows the G20 meeting where the 20 countries pledged to refrain from targeting currency policies to gain a competitive trading advantage. It is a quieter start to the week in terms of major corporate news.

Company Announcements

Vodafone Strategic Security and Mobile Partnership. It has confirmed weekend press reports of the formation of a 5 year partnership deal with BAE Systems to provide businesses with a range of advanced communication security products and services, initially focused on smartphones and tablets. In addition, BAE now intends to select Vodafone as its preferred supplier of mobile communications worldwide, excluding the US. The deal also provides a framework for other business areas including interconnected devices using machine to machine technology.