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UK stock market morning note (March 11, 2013)

The FTSE 100 is called to open flat this morning after the gains made the previous week. There is also no major UK or US economic data due out for investors to focus on although there may be some impact from Chinese data over the weekend showing higher inflation but softer retail sales and industrial output. Italy may also be in focus following the news that Fitch had downgraded the country's credit rating by one notch to BBB+. Commodity prices are flat to slightly firmer and on the foreign exchanges, the major currencies are trading within narrow ranges.


Company Announcements

Diageo Global Supply Operations. It has announced a restructuring of its global supply operations which it expects will save around GBP60m per annum. The savings are expected to achieved in 3 years with the costs associated with the restructuring estimated at GBP100m.  

Ladbrokes Partnership. It has confirmed weekend press reports of an extension to its relationship with Playtech to accelerate its digital revenue growth via digital marketing and CRM. The deal effective from 1 May 2013 covers two separate agreements relating to marketing services and software licensing.