Stock Market News
London pre-open: Stocks seen higher as traders await US jobs data
06-06-2014 07:39
Add To Google +1 | Tweet |
UK markets were set for a slightly positive start on Friday, with the tone set by another record finish on Wall Street, as investors gear up for the all-important US jobs report later on.
City sources expect London's FTSE 100 to open around eight points higher than Thursday's close of 6,813.49, its lowest finish since May 20th.
UK investors were underwhelmed yesterday by a string of new measures announced by the European Central Bank (ECB) yesterday in an attempt to stave off deflation and boost growth. However, US stocks performed well with the S&P 500 and Dow Jones Industrial both rising to all-time highs.
In an unprecedented move, ECB President Mario Draghi dropped the deposit facility rate into negative territory, effectively charging banks to keep their money at the ECB.
"This is the first time that a major central bank has used a negative rate strategy; it is significant from a risk viewpoint and can be viewed similarly to the 'whatever it takes' statement by Draghi in July 2012," said Dawn Kendall from Investec Wealth & Investment.
Draghi also unveiled a string of new measures, including a 10 basis-point cut in the main refinancing rate to 0.15% and a package of up to €400bn of cheap loans to banks to encourage lending.
"With the market fuelled on stimulus hopes yesterday, attention will soon be shifted to the US pay-rolls report due later today" said Lee Mumford, Financial Sales Trader at Spreadex.
Analysts expect data to show a 215,000 increase in non-farm payrolls in May, down from the particularly strong reading of 288,00 the month before. The unemployment rate is forecast to rise to 6.4% from 6.3%.
Stocks to watch
Communication services group KCOM said it met expectations with its annual results and increased its dividend by a tenth despite seeing no growth in revenues and profits in the year ended March 31st. However, the company said that after a recent re-financing and with underlying cash flow strong, it is looking for investment opportunities, both organically and inorganically, to strengthen its position in target markets.
Pub grub and accommodation has helped froth up annual sales and profits at pub and brewing group Fuller, Smith & Turner, which hiked its dividend by 11%.
Ultra Electronics has won a three-year contract worth $19m with the US Navy. The work, awarded to its Ocean Systems business (UEOS) based in Massachusetts, is for the production of the Naval Acoustic Electromechanical Beacon expendable countermeasures.
BC
City sources expect London's FTSE 100 to open around eight points higher than Thursday's close of 6,813.49, its lowest finish since May 20th.
UK investors were underwhelmed yesterday by a string of new measures announced by the European Central Bank (ECB) yesterday in an attempt to stave off deflation and boost growth. However, US stocks performed well with the S&P 500 and Dow Jones Industrial both rising to all-time highs.
In an unprecedented move, ECB President Mario Draghi dropped the deposit facility rate into negative territory, effectively charging banks to keep their money at the ECB.
"This is the first time that a major central bank has used a negative rate strategy; it is significant from a risk viewpoint and can be viewed similarly to the 'whatever it takes' statement by Draghi in July 2012," said Dawn Kendall from Investec Wealth & Investment.
Draghi also unveiled a string of new measures, including a 10 basis-point cut in the main refinancing rate to 0.15% and a package of up to €400bn of cheap loans to banks to encourage lending.
"With the market fuelled on stimulus hopes yesterday, attention will soon be shifted to the US pay-rolls report due later today" said Lee Mumford, Financial Sales Trader at Spreadex.
Analysts expect data to show a 215,000 increase in non-farm payrolls in May, down from the particularly strong reading of 288,00 the month before. The unemployment rate is forecast to rise to 6.4% from 6.3%.
Stocks to watch
Communication services group KCOM said it met expectations with its annual results and increased its dividend by a tenth despite seeing no growth in revenues and profits in the year ended March 31st. However, the company said that after a recent re-financing and with underlying cash flow strong, it is looking for investment opportunities, both organically and inorganically, to strengthen its position in target markets.
Pub grub and accommodation has helped froth up annual sales and profits at pub and brewing group Fuller, Smith & Turner, which hiked its dividend by 11%.
Ultra Electronics has won a three-year contract worth $19m with the US Navy. The work, awarded to its Ocean Systems business (UEOS) based in Massachusetts, is for the production of the Naval Acoustic Electromechanical Beacon expendable countermeasures.
BC
Related share prices |
---|
Fuller Smith & Turner (FSTA) share price |
Ultra Electronics Holdings (ULE) share price |
KCOM Group (KCOM) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price