US Stock Market Updates For Today
The FTSE 100 is called to open lower this morning following the losses
on Wall Street on Friday and in Asia overnight. These are due to
concerns over country specific issues in emerging markets and the
likelihood of the US Federal Reserve announcing a further tapering of
its bond buying programme this week. Today's economic diary sees
Eurogroup meetings taking place and this afternoon the release of US new
home sales data. Commodity prices are mixed and on the foreign
exchanges, the pound is up against both the dollar and the euro but
within narrow trading ranges.
Company Announcements
ARM Holdings
Appointment of New Chairman. It has
confirmed weekend press reports that Sir John Buchanan is to step down
as Chairman due to a medical condition. He will be replaced by Stuart
Chambers, current Chairman of Rexam who is joining the board as Chairman
designate with immediate effect and will take over the Chairman role on
1 March 2014.
BG Group
Force Majeure in Egypt and Trading Update.
The company has issued force majeure notices under its LNG agreements in
Egypt due to ongoing diversions of gas volumes to the domestic market
in excess of the existing pooling arrangements. It expects to report Q4
and Full Year 2013 Results on 4 February 2014 but has today updated its
oulook for 2014. It now expects production volumes this year to be in
the range of 590-630 kboed, E&P unit operating costs between
USD15.50-$16.25 per boe, E&P unit depreciation costs of USD12.25 to
USD13.00 per boe and LNG Shipping & Marketing total operating profit
of between USD2.1bn and USD2.4bn. It added that the year on year
decline in Egypt and the US are the drivers of the volume decline from
2013 to 2014 with the rest of the base portfolio broadly flat overall.
Vodafone
Statement by AT&T. At the request of the
Takeover Panel, AT&T has confirmed that it does not intend to make
an offer for Vodafone.
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