UK stock market morning note (January 06, 2014)
January 6, 2014, Monday, 08:31 GMT | 03:31 EST | 13:01 IST | 15:31 SGT
The FTSE 100 is called to open flat to slightly higher this morning although Asian markets are weaker after economic news out of China reported that the HSBC PMI services index fell to 50.9 last month, its lowest level since August 2011 from 52.5 in November. Today's economic diary sees the release of domestic services PMI data, US ISM non-manufacturing PMI and later this evening UK time the US Federal Reserve Chairman nomination vote. Commodity prices are flat and on the foreign exchanges the major currencies are range bound. It is a quieter start to the week for major corporate news.
Balfour Beatty Contract Win. It has been awarded a GBP154m contract to undertake the full transformation works to the London 2012 Olympic Stadium for its operator, E20 Stadium LLP, a JV between the London Legacy Development Corporation and Newham Council. This new deal encompasses the GBP41m Stadium roof contract the company won last summer. Works will start on the site in early 2014 and are due to complete in the spring of 2016.