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Reports UK

UK stock market morning note (January 20, 2014)

January 20, 2014, Monday, 09:43 GMT | 04:43 EST | 14:13 IST | 16:43 SGT
Contributed by SVS Securities

The FTSE 100 is called to open flat to slightly lower this morning with little in the way of direction provided overnight in Asia and the US markets are closed today for the Martin Luther King holiday. Overnight we had official data out of China showing that the country's GDP expanded by 7.7%, slightly above the Government's target of 7.5% and unchanged on 2012 with fixed asset investment and industrial production data both slightly less than forecast. Domestic economic news also out overnight from Rightmove showed that the average asking price for properties advertised for sale on its website rose 1% in January and were 6.3% higher than a year ago driven by prices in Northern England. There is no other major economic data due out today and the UK corporate diary begins on a quieter note as well. Commodity prices are mixed but range bound and on the foreign exchanges, the pound is up slightly against both the dollar and the euro but all the major currencies are trading within narrow bands.

Company Announcements
Rockhopper Press Speculation Response. It has sought to clarify weekend press reports regarding prospective changes to the Board by confirming that the Finance Director, Peter Dixon-Clarke intends to step down in early 2014 and it is well advanced in appointing a successor. The company also anticipates making a further Non-Executive appointment shortly.