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London pre-open: Stocks seen lower on negative Asian cues

By Michele Maatouk

Date: Friday 11 Dec 2015

London pre-open: Stocks seen lower on negative Asian cues

(ShareCast News) - London stocks are called to open lower on Friday, taking their cue from a downbeat session in Asia.
Shares in China and Hong Kong slid as the yuan hit its lowest level in four years.

The FTSE 100 is expected to open 21 points lower than Thursday's close at 6,067.

On the data front, UK construction output figures for October are due at 0930 GMT. In the US, PPI and retail sales are at 1330 GMT while business inventories and University of Michigan are at 1500 GMT.

Capita on track for growth as new contract announced

Capita said it was on track to deliver low double digit underlying revenue growth for the full year, supported by its bid pipeline.

The pre-close trading update came as the FTSE 100 company announced it has been awarded a contract to deliver customer management services for Unitymedia, Germany's second largest broadband and cable provider.

The contract is worth €88m (£62m) over seven years, and begins immediately.

Housebuilder Bellway said it has made an excellent start to the current financial year, supported by strong market conditions and an increase in the number of units in production.

In a trading update for the 18-week period from 1 August to 6 December, it said the reservation rate increased 12% to 165 homes per week, up from 147 in the same period last year.

Housing completions for the year to the end of July 2016 are expected to rise around 10%, while the average selling price of completions in the current financial year is also expected to increase 10%.

Ladbrokes has appointed Richard Snow as acting chief financial officer.

The FTSE 250 company announced in September that Ian Bull who currently holds the post, will leave the company in February.

Snow will hold the post until the proposed merger with Coral completes next year following clearance by the CMA.

At that point, Paul Bowtell will become Ladbrokes Coral's CFO and a director of the company as previously announced.

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