FTSE 100 closes down over 84 at 7,295
BoE votes 7-2 to hold interest rates at 0.25%
Pounds soars on hawkish BoE comments
US CPI higher-than-expected at 0.4% in August
FTSE 100 closed firmly lower on Thursday as the pound strengthened and there was a stronger hint that an interest rate hike may be round the corner.
Retailers offered a ray of sunshine though with Next Plc (LONS:NXT) and Marks & Spencer (LON:MKS) making good gains.
FTSE 100 closed around 84 lower at 7,295, while FTSE 250 shed over 66 at 19,523, while sterling was up 1.49% against the Euro and 1.44% ahead on the US dollar.
David Madden, at CMC Markets, said: "The Chinese figures set the tone for the day, and the spike in sterling on the back of the Bank of England update weighed heavily on the FTSE 100. The British index is paying the price for a strong domestic currency."
As expected today, the Bank of England's Monetary Policy Committee announced a decision to keep rates unchanged.
The vote was for 7 to 2, but there were hints of a rate rise coming sooner than expected.
The Old Lady of Threadneedle street signalled that it might take back some of its stimulus relatively soon.
Top riser on Footsie was Next after it 'moderately' upgraded its full year guidance. Shares added 13.06% to 4,994p.
On the losing front, Morrison's (LON:MRW) shed 5.14% to 232.40p despite the UK's fourth biggest supermarket showing signs the turnaround is on track.
It notched up its seventh consecutive quarter of like-for-like growth and saw total sales climb 4.8% to £8.4bn.
3.30pm - US markets open lower
US stock markets opened lower after a higher-than-expected rise in consumer prices last month increased the chances of another interest rate hike this year.
Analysts had forecast the consumer price index to rise by 0.3% in August but it came in at 0.4% - the biggest rise in seven months.
The Dow Jones is broadly flat at 22,166, the S&P 500 has lost 0.2% or 5.1 points to 2,493.7, while the Nasdaq is down 0.4% or 26.4 points to 6,434,2.
Pound soars, FTSE falls
Back over on this side of the Atlantic, UK shares continued to sink into late afternoon trading as the pound soared after “hawkish” comments from the Bank of England hinted at a possible interest rate rise in the “coming months”.
As expected the BoE kept rates at record lows of 0.25% after its latest meeting, but the pound jumped by almost 1.5 cents to US$1.335 as markets digested the minutes of the meeting.
That news sent the FTSE 100 plummeting almost immediately and it currently finds itself down 0.9% or 63.7 points to 7,316.3.
Banks boosted by rate hike prospects
A stronger pound tends to weigh on the index given it cuts the value of companies’ overseas earnings when translated back into sterling and simultaneously makes their products more expensive to overseas buyers.
That said, UK banks were rubbing their hands at the prospect of higher interest rates, with Lloyds Banking Group PLC (LON:LLOY) (up 1.7% to 66.1p) and Royal Bank of Scotland Group PLC (LON:RBS) (up 1.7% to 253.8p) both making strong gains this afternoon.
Despite posting a fall in half-year sales and profits, Next Plc (LON:NXT) has been the top blue chip riser for most of the day, up 12.4% to £49.65, after it “moderately” upgraded its full-year guidance.
Short-sellers have exaggerated the rise, with those betting against the company having to buy back the shares to avoid making too much of a loss.
Retailers get a tow from Next
Clinging on to its coattails were a host of other retailers, including Mark & Spencer Group PLC (LON:MKS) (up 4.7% to 339.6) which was boosted by Next’s more upbeat outlook and the fact the trading environment looks “somewhat less challenging” than it did at the start of the year.
British supermarket WM Morrisons PLC (LON:MRW) couldn’t ride the retailer wave though despite more signs in its half-year report that its turnaround is on track.
Morrisons notched up its seventh consecutive quarter of like-for-like growth and saw total sales climb 4.8% to £8.4bn. As the saying goes though ‘it’s better to travel than to arrive’ and, having gained the best part of 25% over the past year, shares gave back 6.5% today to 229p.
Weak Chinese data hurts miners
Disappointing industrial production and retail sales data from China, the world’s biggest consumer of commodities, knocked metal prices once again today.
Heavyweight miners Anglo American PLC (LON:AAL) and Rio Tinto PLC (LON:RIO) both lost a little more than 4% to £13.13 and £35.10 respectively as copper prices retreated for the third straight day.
1.45pm... US markets to open lower; all eyes on inflation figures
The US markets are set to follow their European counterparts lower when they open shortly.
Spread bet firms see the Dow Jones opening 27.5 points lower at 22,120, while the S&P 500 is expected to be 6.5 points down at the opening bell to 2,491.6.
As for the tech-heavy Nasdaq, that is seen as opening 26.3 points in the red at 5,976.
All eyes will be on the latest consumer price index data though, with low inflation giving the Federal Reserve a headache in recent months.
“ Like their English counterpart, inflation is the key issue for the Federal Reserve at the moment; unlike in the UK, however, the US is dealing with persistently low, rather than startlingly high, CPI data,” explains Spreadex’s Connor Campbell.
“The latest figure is expected to rise from 0.1% in July to 0.3% in August. That would be the best reading for 7 months, and could give the Fed food for thought ahead of its own meeting next Wednesday.
“It would also give a boost to the dollar, explaining why the Dow Jones is set to fall 0.1% after the bell (though, admittedly, the index could sneeze and hit a fresh all-time high).”
1.30pm...Blue chip miners weighing heavy
In mid-afternoon trading, the FTSE 100 is down almost 1%, or 70.4 points, to 7,309.6 with the strong pound weighing heavy.
Sterling is up past US$1.33 after the Bank of England hinted at an interest rates rise in its latest meeting minutes, despite voting to keep rates on hold this time around.
WM Morrisons Supermarkets PLC (LON:MRW) is still the heaviest blue chip faller on the FTSE 100 despite more signs in its half-year report that its turnaround is starting to bear fruit.
Britain’s fourth largest supermarket notched up its seventh consecutive quarter of like-for-like growth and saw total sales climb 4.8% to £8.4bn.
As the saying goes though ‘it’s better to travel than to arrive’ and, having gained the best part of 25% over the past year, shares have given back 4.9% so far today to 233.4p.
Miners slammed by weak Chinese data and falling metal prices
The miners continue to be hit by falling metal prices which took a bit of whack following disappointing industrial production and retail sales data from China, the world’s biggest consumer of commodities.
Copper has retreated for the third day in a row and is trading at a one-month low, while iron ore futures slipped another 5.8% to extend September losses to almost 10%.
All-round miss for China's August data dump:
Retail sales 10.1% (est 10.5%)
Industrial output 6% (6.6 %)
Fixed asset invest YTD 7.8% (8.2%) pic.twitter.com/B493Q8lLJ1
— Haidi Lun 伦海迪 (@HaidiLun) September 14, 2017
Anglo American PLC (LON:AAL) and Rio Tinto PLC (LON:RIO) are both down 4% to £13.14 and £35.19 respectively, while Glencore PLC (LON:GLEN) and BHP Billiton plc (LON:BLT) have each given up 2.8% to 353.6p and £13.70 respectively.
The strengthening pound won’t have done much to help them either given that the bulk of their earnings are generated outside of the UK.
Tesco latest to ride Next’s coattails
Tesco PLC (LON:TSCO) is the latest UK retailer to get a tow from Next Plc’s (LON:NXT) relatively bullish update this morning.
Next – which is the top clue chip gainer, up 10.6% to £48.93 – upgraded its full-year sales and profit guidance after it told investors that current trading conditions are “somewhat less challenging” than at the start of the year. That has boosted several other stocks in the sector.
Tesco – which was also helped higher by a decent quarterly update from takeover target Booker Group PLC (LON:BOK) – is up 0.6% to 183.5p, while Marks & Spencer PLC (LON:MKS) has gained 2.1% to 332.1p.
Spire still taking a kicking
Spire Healthcare Group PLC (LON:SPI) – where rogue surgeon Ian Paterson used to work – is still taking a kicking from the market after its half-year profits slumped.
The FTSE 250 firm – Britain’s second largest healthcare provider – had to fork out £27.2mln yesterday in compensation to Paterson’s 750 or so victims.
Spire also said that trading has been slow in July and August which also weighed on the share price. The stock is currently changing hands for 256.8p apiece – a 17.1% fall.
12.50pm...ING analysts not convinced a rise in interest rates will materialise
“While we certainly don't rule out the possibility that the BOE reverses last August's emergency rate cut quite soon, economic uncertainty relating to Brexit and the risks this poses for activity means that such action would not be the start of a new tightening cycle," says ING's chief international economist James Knightley.
“Moreover, if there is concrete action on a meaningful Brexit transitional deal this would help boost sterling and could dampen the medium term inflation threat. As such, the prospect of a series of rate hikes seems remote.”
12.45pm...This is what's building up the market's hopes...
“A majority of MPC members judge that, if the economy continues to follow a path consistent with the prospect of a continued erosion of slack and a gradual rise in underlying inflationary pressure then, with the further lessening in the trade-off that this would imply, some withdrawal of monetary stimulus is likely to be appropriate over the coming months in order to return inflation sustainably to target. All members agree that any prospective increases in Bank Rate would be expected to be at a gradual pace and to a limited extent.”
12.40pm...Traders starting to price in December rate hike
Traders now think there is a better-than-even chance that the Bank of England will hike interest rates to 0.5% in December.
That optimism has sent the pound soaring back towards 12-month highs at US$1.333.
The stronger sterling is weighing on the FTSE 100’s internationally-focused constituents as it makes their foreign-denominated earnings worth less when converted back into pounds and also makes their exports more expensive to overseas buyers.
The blue chip index plummeted immediately after the Bank of England minutes were released and is currently down 0.7%, or 51.2 points, to 7,328.5.
Markets now pricing UK Dec rate hike at 54.4% #gbp pic.twitter.com/HVPFX5R0rZ
— Michael Hewson (@mhewson_CMC) September 14, 2017
12.20pm...Pound spikes after BoE's 'hawkish hold'
Pound trades above $1.3300 as the Bank of England takes a hawkish turn https://t.co/6Cu2EPobut pic.twitter.com/ZWQAngFx7v
— Bloomberg Markets (@markets) September 14, 2017
12.15pm...'Bar for a hike lowered'
“The Bank of England kept rates on hold as expected but there was a clear signal that the bar to a hike is not that high,” said ETX Capital’s Neil Wilson.
“The MPC thinks the economic data since 3 August, although relatively limited, suggests growth is firmer than expected.
“Crucially policymakers think that slack is being absorbed faster than expected and this would be consistent with a rate hike sooner than markets currently expect. Again the MPC said monetary policy may well be tightened more than current market expectations.”
“And the key passage was towards the end of the minutes where the Bank offered a clear signal that a hike may be coming.
“A majority of MPC members agree that as long as the economy trundles along as is, then some withdrawal of stimulus would be appropriate. It’s clearly teeing up a rate rise and wants the markets to prepare for one.
“Given the economy is not exactly motoring, the bar for a hike has just been lowered.”
12.05pm...Some good ol' hawkish rhetoric from the BoE
You might hear the phrase 'hawkish rhetoric' a fair bit in the coming days.... A quick flick through the minutes reveals that, although the Bank of England voted against hiking interest rates this month, it has been pleasantly surprised by the performance of the UK eocnomy since its last meeting.
The bank noted that data had been limited recently but said what was available pointed to a "slightly stronger picture than anticipated".
Hawkish BoE rhetoric as expected #gbp
— Mike van Dulken (@Accendo_Mike) September 14, 2017
12pm...BoE holds interest rates at 0.25%
MPC holds #BankRate at 0.25%, maintains government bond purchases at £435bn and corporate bond purchases at £10bn. pic.twitter.com/D1w1kcvgrz
— Bank of England (@bankofengland) September 14, 2017
11.45am...John Lewis profits halve in first half
John Lewis Partnership PLC saw first half profits more than halve and warned that weak consumer spending will continue to drag on the business in the rest of the year.
The company, which owns the John Lewis department store chain and Waitrose supermarkets, reported a 53% decline in pre-tax profit to £26.6mln in the first six months of the year.
Profits were hit by £56.4mln of reorganisation costs and the impact of the slump in the pound following the Brexit vote. John Lewis said the devaluation of the pound pushed up its costs and hit profit margins, while adding to inflationary pressures that have hurt consumer demand.
Excluding the reorganisation costs, pre-tax profit still fell 5% to £83mln due to cost inflation.
11.30am...10 years since those queues outside Northern Rock
It's been ten years since Northern Rock customers queued in the hope of getting their money out of the failing bank https://t.co/3sceQSCRlR pic.twitter.com/9LuzGbs8cF
— Sky News (@SkyNews) September 14, 2017
11.15am...'Still work to be done at Morrisons'
“First half results are solid enough, and certainly above what could have been expected a year or so ago,” said Hargreaves Lansdown analyst George Salmon.
“However, with rivals like Asda redoubling efforts on pricing and UK wage growth lagging behind inflation, one gets the feeling there remains much work to be done.
“Indeed, despite the fanfare around a 7th consecutive quarter of LFL sales growth, we can’t help but notice that the momentum built earlier in the year has faded a touch.
“CEO David Potts has certainly got the boat facing the right way, and is already rowing pretty strongly against the tide. However, if conditions worsen, we fear he might need to find some more power from somewhere.”
11am...Spire profits collapse after compensation payout
Britain’s second largest healthcare firm Spire Healthcare Group PLC (LON:SPI) slumped today after it revealed a steep fall in first-half profits because of a recent legal settlement.
The FTSE 250 firm saw pre-tax profits for the six months ended June collapse by 74% to £12.1mln after it was forced to take an exceptional charge hit of £32.1mln.
Spire announced on Wednesday that it would be contributing £27.2mln to a fund to compensate 750 patients of Ian Paterson, a former Spire breast surgeon who is facing jail for carrying out operations on patients he had wrongly diagnosed.
If that wasn’t enough, the company also warned investors today that it had seen “significant lower anticipated revenues” in the first two months of the second half. Shares are down 17% to 259.8p.
Spire agree £27.2 million settlement for victims of rogue breast surgeon Ian Patersonhttps://t.co/g9Vjsgiw78 pic.twitter.com/o0vcpnD8KQ
— ITV News Central (@ITVCentral) September 13, 2017
10.50am...Even billionaires have a sens of humour...
Long road to reusabity of Falcon 9 primary boost stage…When upper stage & fairing also reusable, costs will drop by a factor >100. pic.twitter.com/WyTAQ3T9EP
— Elon Musk (@elonmusk) September 14, 2017
10.40am...Sky-Fox merger to be referred to CMA
Culture secretary Karen Bradley has confirmed that 21st Century Fox’s (NASDAQ:FOXA) £11.7bn takeover bid for Sky PLC (LON:SKY) will be referred to competition regulators in the “coming days”.
The Competition and Markets Authority will be asked to examine the deal on “media plurality and genuine commitment to broadcasting standards grounds”.
That could take up to six months and Bradley will give her final verdict shortly afterwards.
Good to hear confirmation in DCMS questions that Sky/Fox bid will definitely be referred to the CMA on broadcasting standards grounds.
— Jo Stevens (@JoStevensLabour) September 14, 2017
10.15am...FTSE marks time as it waits on Carney and co
The FTSE 100 got off to another slow start on Thursday, despite the pound falling back to US$1.32 which should (in theory) have helped to push the internationally-focused blue chips higher.
That’s not been the case so far this morning, although a little rally has seen it creep back towards yesterday’s close and it is currently down 1.5 points, or 0.02%, to 7,378. We’ll call that flat.
Most traders are probably waiting on the Bank of England’s monthly decision on interest rates which is expected at midday. Analysts aren’t expecting a hike today but they’ll be looking for hawkish comments that could indicate a rise is on the cards later this year.
Next boosts retailers
Despite posting a fall in half-year sales and profits, Next Plc (LON:NXT) was the top blue chip riser, up 12.3% to £49.59, after it “moderately” upgraded its full-year guidance.
Short-sellers have exaggerated the rise, with those betting against the company having to buy back the shares to avoid making too much of a loss.
Clinging on to its coattails were a host of other retailers, including Mark & Spencer Group PLC (LON:MKS) (up 4.7% to 339.6) and Primark owner Associated British Foods plc (LON:ABF) (up 1.3% to £31.97).
They were boosted by Next’s more upbeat outlook and the fact the trading environment looks “somewhat less challenging” than it did at the start of the year.
Better to travel than to arrive for Morrisons
British supermarket WM Morrisons PLC (LON:MRW) couldn’t ride the retailer wave though despite more signs in its half-year report that its turnaround is on track.
Morrisons notched up its seventh consecutive quarter of like-for-like growth and saw total sales climb 4.8% to £8.4bn. As the saying goes though ‘it’s better to travel than to arrive’ and, having gained the best part of 25% over the past year, shares gave back 4% today to 235.3p.
Experian PLC (LON:EXPN) (down 2.4% to £14.97) and Glencore PLC (LON:GLEN) (down 1.7% to 357.6p) were also headed lower this morning.
8.50am...Traders wait on BoE decision
The FTSE 100 drifted 17 points lower to 7,363.94 in early trade as the market braced itself for the Bank of England’s monthly decision on interest rates.
With consumer price inflation running well ahead of the 2% the Bank uses as its benchmark, a rise in the cost of borrowing is seen likely – if not this month then next.
Certainly, the foreign exchange markets have been anticipating a movement with the pound in territory last seen more than a year ago.
It was another day in paradise for investors in Provident Financial (LON:PFG), the embattled doorstep lender that’s soon to be booted from the blue-chip index with its shares marked down 3%.
Oddly, given the rather dire showing from John Lewis (which unveiled a sickly set of results), the retailers were in demand.
One assumes Next’s (LON:NXT) half-year results weren’t half as bad as its recent trading statement had suggested with the stock up 7%.
In contrast with John Lewis the clothing chain actually raised its sales guidance.
This had a knock-on positive impact on Marks & Spencer (LON:MKS), which was well bid. The shares rose 2%.
Finally, Wm Morrison (LON:MRW), one of the market’s big shorts, was off 3% after underwhelming the City with its latest trading.
Proactive news headlines:
Electronic and physical security systems provider Newmark Security PLC (LON:NWT) is looking to step-up migration of customers from its legacy Janus system to Sateon, but admitted the current financial year is likely to be another tough one for the company.
Life sciences group Abzena (LON:ABZA) said it expects revenue for the second half of the financial year to be “substantially stronger” than the first after getting off to a sluggish start. In a trading update the company said first-half turnover had been below expectations and only marginally ahead of the figure posted for the same period last year.
It’s a good day – or possibly g’day – for ticketing and queue management specialist accesso Technology Group PLC (LON:ACSO), which has signed a deal down under with Australia's largest theme parks operator.
Touchstone Exploration is looking to drill a further four wells this year in Trinidad after a programme earlier this year boosted production by more than predicted. James Shipka, chief operating officer, said the four wells already drilled targeted slightly deeper horizons in established fields and the results exceeded internal expectations.
NetScientific PLC (LON:NSCI) said its portfolio company ProAxsis has today announced that it has appointed Diagenics Limited as the distributor for its ProteaseTag® Active Neutrophil Elastase Immunoassay in Great Britain and Ireland. The transatlantic healthcare IP commercialisation group appointment is expected to accelerate the commercial uptake of ProAxsis' technology, increasing near-term sales potential for ProAxsis.
Cyber-security firm Corero Network Security PLC (LON:CNS) has won one of its largest contract wins to date with a leading digital enterprise. The initial contract is for US$0.2mln, but the company expects this to rise to US$1.5mln over the next few quarters.
Drug developer Summit Therapeutics PLC (LON:SMMT) will effectively secure its financial future with a fully underwritten issue of stock that could bring in as much as US$20mln. The AIM-listed firm, which is also quoted on the NASDAQ exchange, is issuing 1.459mln new American depositary shares at US$12 each, bringing in a minimum of US$17.5mln.
Amur Minerals Corporation (LON:AMC) said today that drill results on the Kubuk deposit in Russia’s Far East confirmed that there is potential to substantially upgrade and increase the current Mineral Resource Estimate averaging 0.77% nickel and 0.20% copper.
Hurricane Energy PLC (LON:HUR) told investors that it has taken the final investment decision for the Lancaster early production system which is now on track for ‘first oil’ in the first half of next year.
Sound Energy PLC (LON:SOU) chief executive James Parsons has told investors that he is “hugely excited” about the company’s prospects over the coming years. The Sound boss’s comments come in the Morocco focused gas firm’s half yearly results statement, which was released on Thursday.
Anglo Pacific Group plc (LON:APF TSX:APY) has broadened its portfolio with the acquisition of a royalty on a nickel-cobalt mine in Brazil. Initially, the royalty specialist will pay Brazilian Nickel Limited US$2mln for a 1% gross revenue royalty (GRR) on the Piauí nickel–cobalt project in the north-east of the country.
Tethyan Resources PLC (LON:TETH) has released the results of new drill holes at the Rudnitza copper-gold prospect, in Serbia, where the explorer is unearthing what is described as “a very extensive mineralised system.”
Echo Energy Plc (LON:ECHO) has announced the appointment of Andres Brickman who will be the explorer’s new Bolivian Country Representative and Commercial Manager.
Aircraft leasing company Aviation PLC (LON:AVAP) has signed multiple long-term leases with two airlines for four aircraft.
Rambler Metals and Mining PLC (LON:RMM CVE:RAB) has seen an extension of its copper mineralisation at depth at the Ming mine in Newfoundland from the first hole in a surface drill programme. The aim of the hole was to test the depth of the Ming Massive Sulphide and Lower Footwall zones and Norman Williams, president and chief executive, said the results were very encouraging.
Wishbone Gold PLC (LON:WSBN) has told investors its joint venture in Honduras is ready to be brought on stream as soon as the weather in the Central American country picks up. Earlier this year, Wishbone inked a 30-year deal with SION Honduras, which has an agreement with the Honduran government to expand the mining industry there.
Lekoil Ltd (LON:LEK) has told investors that the Otakikpo field, in Nigeria, is now producing 7,000 barrels of oil per day and the ramp-up in volume is continuing.
Horizonte Minerals Plc (LON:HZM, CVE:HZM) has provided for the first time an estimate of the size of the nickel-cobalt limonite portion of Araguaia nickel laterite project in northern Brazil. It weighs in at a ‘measured and indicated’ 20.7mln tonnes grading 1.13% nickel and 0.12% cobalt, with the potential to produce 515mln pounds of nickel and 56mln pounds of cobalt.
Acal Plc (LON:ACL) has said it will be reclassified from the Support Services sector to the Electronic and Electrical Equipment sector, with effect from 18 September 2017, reflecting the successful transformation of the international supplier of customised electronics to industry over recent years.
Trading in shares in Range Resources Limited on AIM as cancelled with effect from today following its de-listing from the market.
6.45am: London set for grey day
London’s FTSE 100 is set to open slightly lower on Thursday as stock market trading in Asia was impacted by negative Chinese economic stats for August.
Wall Street benchmarks closed Wednesday’s trading session on the front-foot. The Dow Jones gained almost 40 points, 0.18%, to finish the day at 22,158 whereas the S&P 500 and Nasdaq ended trading with only marginal leads, at 2,498 and 6,460 respectively.
“It seems such a long time ago now when record highs for US markets were almost a daily occurrence but after a break of a few weeks normal service was resumed yesterday as the three main major US benchmarks posted record highs for the second day in succession, helped by further talk of tax reform and the hope that we could see some significant repatriation of US dollars,” said Michael Hewson, analyst at CMC Markets.
“This in turn has also helped fuel the recent recovery in the US dollar over the past three days.
Overnight equities turned negative, with Chinese retail sales statistics for August showing slower exports in August which, according to analysts, suggests the economy may be seeing a soft patch after what had been a decent start to the year.
In Asia, Japan’s Nikkei was down 42 points, 0.21%, at 19,824 and Hong Kong’s Hang Seng lost 0.6% to 27,725 whilst the Shanghai Composite slipped 0.33% to 3,373.
Australia’s ASX 200 was also in negative territory, down 10 points or 0.18%, at 5,733.
In London, spreadbetting and CFD firm IG Markets sees the FTSE 100 around 6 points lower, calling the blue-chip benchmark at 7,384 to 7,388 just over an hour before Thursday’s trading kicks off.
UK investors will be looking again to the Bank of England this Thursday, as the central bank makes its monthly rate decision – albeit while no change is expected to monetary policy, and sentiment and outlook will be the focal points.
Significant events expected on Thursday:
Bank of England monetary policy meeting
Trading update: Booker Group PLC (Q2) (LON:BOK), Safestore Holdings PLC (LON:SAFE)
Finals: Ricardo plc (LON:RCDO)
Interims: Corero Network Security PLC (LON:CNS), Forbidden Technologies plc (LON:FBT), Gresham House Plc (LON:GHE), GVC Holdings PLC (LON:GVC), Wm. Morrison Supermarkets PLC (LON:MRW), Next Plc (LON:NXT), Ophir Energy Plc (LON:OPHR), Regional REIT Limited (LON:RGL), Property Franchise Group PLC (LON:TPFG), Spire Healthcare PLC (LON:SPI), Warpaint London plc (LON:W7L)
FTSE 100 ex-dividends: None scheduled
Economic data: US CPI, US weekly jobless
Headlines
UK housing market slump continues due to Brexit uncertainty and stamp duty - The Independent
Northern Rock shareholders 'must be compensated' - Sky News
Sir James Dyson vows to tackle shortfall of female engineers with new university - Daily Mail
BoE dilemma as UK jobless rate falls to lowest level in 42 years - Financial Times
Amazon 'turns a blind eye' to £1.5bn VAT fraud which sees foreign sellers undercut law-abiding British traders - Daily Mail
Trump blocks sale of US tech firm to Chinese company - BBC News
Equifax could pay for data breach in court - MarketWatch