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RMG Royal Mail Plc

207.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Royal Mail Plc LSE:RMG London Ordinary Share GB00BDVZYZ77 Royal Mail Plc
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 207.00 206.00 206.30 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

LONDON MARKETS: FTSE 100 Rises As Miners, SABMiller Advance

12/03/2015 8:19pm

Dow Jones News


Royal Mail (LSE:RMG)
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By Carla Mozee, MarketWatch

Morrisons pretax profit halved; TSB soars on takeover talks

LONDON (MarketWatch) -- Strength in mining and energy stocks as well as brewer SABMiller PLC helped push the U.K.'s benchmark FTSE 100 higher Thursday.

Making a splash among FTSE 250 midcap stocks , shares of TSB Banking Group PLC rallied by 25% after the lender confirmed it is in talks to be purchased (http://www.marketwatch.com/story/tsb-shares-surges-26-after-banco-sabadell-offer-2015-03-12) by Span's Banco de Sabadell PLC .

The FTSE 100 was up 1% to 6,787.06 as all sectors advanced, led by the basic materials group. Antofagasta PLC which climbed 2.2% after reaching an agreement to end a protest at its Los Pelambres copper mine in Chile.

(http://www.marketwatch.com/story/ftse-100-higher-after-string-of-losses-2015-03-11)Also among gainers, SABMiller shares rose 2.5%. Morgan Stanley resumed coverage of the brewer with an overweight rating. Meanwhile, Exane BNP Paribas said now is "arguably the best time" for Anheuser-Busch InBev SA (AHBIY) to finance a bid on SABMiller, given current conditions in the bond and foreign exchange markets.

Although there are "limited synergies and execution risk, a deal would boost [per-share earnings] and more importantly, help solve ABI's volume issue. Tempting. If a deal doesn't happen soon, it may never happen," wrote Exane BNP analyst Francois Mosnier, in a note.

Wm Morrison Supermarkets PLC shares turned higher by 1%. They had sunk to the bottom of the FTSE 100 earlier after the supermarket chain's fiscal 2015 underlying pretax profit dropped by more than half, to GBP345 million from GBP719 million (http://www.marketwatch.com/story/morrisons-yearly-net-loss-widens-2015-03-12). It also indicated a dividend cut, as for fiscal 2016 it expects to pay a dividend of 5 pence per share or less.

Morrisons' results "are a miserable welcome for incoming CEO David Potts who will have his work cut out to deliver a quick turnaround for the retailer," as it is "bearing the brunt of its GBP1bn investment in price reductions, which are spread across three years," said Himanshu Pal, director of retail insights at Kantar Retail, in a note. But positive developments come from a stronger supply chain and improved logistics that will help Morrisons compete against discounters and larger rivals, said Pal.

Shares of rivals J Sainsbury PLC and Tesco PLC were up 2.1% and 1.3%, respectively, and department store and grocer Marks & Spencer PLC were fractionally higher.

Resources: In the mining group, shares of precious metal miner Fresnillo PLC rose 2.6%, after having lost roughly 12% over the past four sessions. Mining shares were aided by improvement in prices for metals. Dollar-denominated commodity prices have been under pressure in the wake of a surge by the U.S. dollar (http://www.marketwatch.com/story/dollar-up-after-losing-a-chunk-of-gains-overnight-2015-03-11) against other currencies. The closely watched ICE U.S. dollar index (DXY) eased Thursday after jumping 2% more than the past two days

Stock in Randgold Resources Ltd. rose 3.1% on Thursday, iron ore producer Anglo American moved up 2.4% and Rio Tinto PLC (RIO) added 2%.

As dollar-denominated U.S. oil futures (CLJ5) and those for Brent crude rose, so did oil and gas stocks. British oil major Royal Dutch Shell PLC (RDSB) climbed 2.8%. BP PLC (BP) and BG Group PLC each rose 1.9%.

Also gaining, ITV climbed 1.3% as it said it is agreed to purchase Talpa Media BV for up to 781 million pounds ($1.17 billion). The entertainment show producer is behind programs including "The Voice", and company founder John De Mol established "Big Brother." ITV will make an initial cash payment of GBP355 million for Talpa.

The handful of stocks losing ground on the FTSE 100, Royal Mail PLC shed 1%, equipment-rental company Ashtead Group PLC lost 0.9% and budget carrier easyJet PLC slipped 0.3%.

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