Global Newsbrokers Stockmarket Service
London stockmarket report at 10:30:02
FTSE FIRM BUT OFF EARLY HIGHS
Thursday, January 13
The FTSE-100 index is up 9.3 at
4,792.9.
Blue chips are holding firm in London
this morning, although the market has
retreated from its early highs.
However, last night's gains on Wall
Street, a positive outlook from Apple
and a batch of well-received corporate
updates this morning are all
underpinning sentiment.
Sainsbury is higher after revealing
that 12-week like-for-like sales to
January 1 fell by 1.2 per cent. The
supermarket group said that the pace
of decline was moderating as December
sales picked up from a weak November.
Fellow retailer GUS is firm after
saying it is comfortable with full-
year expectations despite a subdued 1
per cent rise in 15-week like-for-like
sales at its key Argos division.
Reuters is up after announcing that
its revenue recovery is continuing.
The group sees Q1 recurring revenues
falling by 1.5 per cent, a smaller-
than-expected decline.
On the downside, Hanson is weaker as
profit-taking follows yesterday's
gains on sector consolidation
speculation after Holcim's bid for
Aggregate Industries.
Profit-taking is also weighing on
Scottish Power and United Utilities.
Second-liner Carphone Warehouse is
rallying after saying that full-year
results will exceed current
expectations after solid sales.
SIG is higher as it sees full-year
pre-tax profits at the top end of
expectations, while Balfour Beatty is
firm after forecasting in-line full-
year profits.
Main index