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Hong Kong loan growth, US interest rate rises expected to lift Standard Chartered profit
Day ahead includes updates from FTSE 100 lender Standard Chartered PLC, drugs firm indivior PLC, plus the latest Federal Reserve interest rate decision
Company
LON:SGE
The Sage Group PLC provides business software, services and support to small and medium-sized businesses. Sage's vision is to become a great SaaS (software-as-a-service) company for customers and colleagues alike.
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Day ahead includes updates from FTSE 100 lender Standard Chartered PLC, drugs firm indivior PLC, plus the latest Federal Reserve interest rate decision
In a statement to be delivered at today's annual general meeting, chairman, Mark Winlow said: "The Company's core insurance business has seen another strong start to the year, with record first quarter sales and productivity"
Analysts at the US bank said they still believe in Sage's ability to accelerate revenues but "confidence has been damaged"
The FTSE 100 closed below the 7,200 level as sterling continues to strengthen against the dollar
Ultra Electronics and Melrose were boosted by analyst comments as the week drew to a close
Sage Group said organic revenue was hit by slippages in some enterprise licence contracts in the US and the Middle East
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After an up-and-down day, the FTSE 100 finished in positive territory after a late surge
Investments and investor services
The FTSE 100 index – which is chock full of dollar earners – closed around 108 points lower at 7,170
There is less talk now from Sage about acquiring gazillions of new customers and more emphasis on deriving more revenue from the installed user base
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Smith & Nephew, Bellway Plc and Compass are on the Thursday's agenda.
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After November's hike, another UK rate rise is unlikely this month, although some Bank of England MPC members may vote for a rise after a unanimous vote in December
Numis’ analysts noted that Sage stated that its first quarter performance was "in-line" with management expectations, with revenue growth of 6.3%
The accountancy software giant has kept unchanged its full-year guidance for organic revenue growth despite a slow start to the year
Investments and investor services
“If he intended it, Treasury Secretary Steven Mnuchin has done a first class job of whacking the dollar,” declared Neil Wilson at ETX Capital. .
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The day ahead includes trading updates from Wetherspoons, WH Smith, Fevertree and Sage Group
Lloyds's shares were changing hands at a rate of knots, while the house-builders saw some of their recent handsome gains creamed off
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It's all about the Autumn Budget on Wednesday with the spotlight on Philip Hammond
The bank has only moved to "equal weight" (and raised the target price) but thinks efforts to juice-up organic growth might revive the market's interest in Sage
UBS analyst Michael Briest thinks the recent acquisition of Intacct, though expensive, is a good move
The blue chip group – which in June announced the sale of its North American payments business to private equity firm GTCR LLC for US$260mln - said the total consideration for Intacct Corp will be paid in cash and rolled-over options