LONDON MARKETS: FTSE 100 Higher, Pound Flat Ahead Of U.K. Inflation Data
September 15 2015 - 4:15AM
Dow Jones News
By Carla Mozee, MarketWatch
Experian gains after ratings upgrade
U.K. stocks rose Tuesday, with ratings upgrade for Experian PLC
helping to lift the benchmark FTSE 100. Meanwhile, the pound was
flat ahead of the release of U.K. inflation data.
The FTSE 100 gained 0.2% to 6,096.21, winning back a slice of
Monday's 0.5% loss.
(http://www.marketwatch.com/story/ftse-100-starts-week-higher-as-miners-shrug-off-chinese-data-2015-09-14)
Movers: Experian PLC (EXPN.LN) gained 1.4%, holding the top spot
on the blue-chip index, after the credit-reporting company's rating
was upgraded to buy at Deutsche Bank.
Meanwhile, shares of BP PLC (BP.LN) were up 0.4% as oil prices
moved modestly higher. Also, BP and oil major BG Group PLC (BG.LN)
were each upgraded to buy ratings at Liberum Capital.
But shares of Kingfisher PLC (KGF.LN) fell to the bottom of the
FTSE 100, losing 2.4% after the home-improvement retailer said
pretax profit fell in the first half, in part due to foreign
exchange losses
(http://www.marketwatch.com/story/kingfisher-profit-hurt-by-currency-losses-2015-09-15-348592).
On the midcap FTSE 250, Ocado Group PLC (OCDO.LN) shares rose 4%
after the online grocer reported a 17% rise in third-quarter sales
(http://www.marketwatch.com/story/online-grocer-ocado-posts-173-rise-in-sales-2015-09-15).
Sterling eyes BOE: The pound was trading at $1.5427, on par with
where it traded late Monday in New York. Inflation figures for the
U.K. in August will be released at 9:30 a.m. London time, or 4:30
a.m. Eastern Time by the Office for National Statistics.
"We look for the headline CPI measure to drop back to 0.0%
[year-over-year] (dragged down by energy) but still see CPI
inflation jumping to over 1% [year-over-year] by January," said Sue
Trinh, senior currency strategist at RBC Capital Markets, in a
note.
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(END) Dow Jones Newswires
September 15, 2015 04:00 ET (08:00 GMT)
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