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Reports UK

UK stock market morning note (March 14, 2014)

March 14, 2014, Friday, 09:00 GMT | 05:00 EST | 14:30 IST | 17:00 SGT
Contributed by SVS Securities

The FTSE 100 is called to open lower this morning following the performances overnight on Wall Street and in Asia with the situation in the Ukraine continuing to dominate market sentiment. Today's economic diary sees the release of domestic trade data followed by US producer prices figures and the preliminary reading of the University of Michigan consumer sentiment index. Commodity prices are generally flat and on the foreign exchanges, the pound is up slightly against both the dollar and the euro but all the key currencies are effectively range bound. It is another quiet end to the week for major corporate news.


Company Announcements

JD Wetherspoon

Half Year Results see PBT and exceptional items up 8.5% to GBP37.8m on revenue ahead 9.1% at GBP683.2m with lfl sales growth of 5.2%. The dividend is maintained at 4p a share. It noted that in the 6 weeks to 9 March 2014, lfl sales increased by 6.7% with total sales ahead 11.6%. It added that it expects tax and input costs to rise and comparisons against a strong H2 in the prior year will be more difficult, but it continues to expect a 'reasonable outcome' in the current financial year and has a solid platform for future growth.

BP

Administrative Agreement with the US EPA. It has announced that it has reached an administrative agreement with the US Environmental Protection Agency (EPA) resolving its suspension and debarment following the Deepwater Horizon accident and oil spill. As a result, BP is now able to enter into new contracts with the US Government, including new deepwater leases in the Gulf of Mexico.

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