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London open at 08:42:00
UK SHARES OPEN HIGHER
Thursday, January 13
The FTSE-100 index is up 20.6 at
4,804.2.
UK shares are firmer in early trade as
bargain-hunting after yesterday's
losses is encouraged by Wall Street's
recovery and higher close last night.
A post-results rally in Apple after
the US close is also helping, while
today's MPC decision on UK interest
rates should hold no fears for the
market, with no change in rates seen.
Sainsbury is in focus after revealing
that 12-week like-for-like sales to
January 1 fell by 1.2 per cent. The
struggling supermarket group, which
continues to face stiff price
competition, said that the pace of
decline was moderating.
Also on the High Street, Carphone
Warehouse has said that full-year
results will exceed current
expectations after a solid sales
performance. Sales over a 13-week
period including Christmas rose by
11.2 per cent on a like-for-like basis
and by 24.9 per cent overall.
Reuters has announced that its revenue
recovery is continuing. The group
sees Q1 recurring revenues falling by
1.5 per cent.
SIG has said that it sees full-year
pre-tax profits above consensus and at
the top end of expectations.
Taylor Nelson is forecasting above
market growth in 2005 and expects its
margins to improve.
Costain has announced that its full-
year results are in line and that it
has made an encouraging start to 2005.
Balfour Beatty has said it sees its
full-year profits before exceptionals
in line with expectations.
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