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Reports UK

UK stock market morning note (May 21, 2014)

May 21, 2014, Wednesday, 11:06 GMT | 06:06 EST | 15:36 IST | 18:06 SGT
Contributed by SVS Securities

The FTSE 100 is called to open slightly lower this morning following the weaker performance overnight on Wall Street and mixed finish in Asia. The economic diary today sees the release of the Bank of England MPC meeting minutes, domestic retail sales data, a speech from the US Federal Reserve Chair Janet Yellen and at 7.00pm UK time the FOMC meeting minutes. Commodity prices are flat to lower and on the foreign exchanges, the major currencies are trading within narrow ranges ahead of these data and central bank releases and Janet Yellen's speech.


Company Announcements

Burberry

It has announced that Carolyn McCall is to join the Board as a Non-Executive Director with effect from 1 September 2014. She is currently Chief Executive of easyJet.

SSE

Preliminary Results see adjusted PBT rise by 9.6% to GBP1.55bn and adjusted EPS ahead 4.1% at 123.4p with the full year dividend raised 3% to 86.7p. It currently expects adjusted EPS in 2014/15 to be around or slightly greater than 2013/14 reiterating that its objective for 2014/15 and subsequent years is to deliver a full year dividend increase of at least RPI inflation. It noted net investment of around GBP5.5bn over the next 4 years in maintaining, upgrading and building its electricity assets.

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