FTSE up in day full of company earnings

On another day packed with company earnings the FTSE 100 has tracked higher by 20 points to 6630.

Sky logo
Source: Bloomberg

The soon to be called European TV behemoth, Sky, (-1.2%) complete with name change to make our lives easier, leads the blue chips lower thanks to the 20p dividend coming off the share price today. Having bought out Sky Italia and most of Sky Deutschland, the company now accounts for 20 million customers across Europe and will make itself a major global player in the modern multi-platform digital media world where the battle for content is hotter than it has ever been.

Elsewhere in the media, ITV’s (-0.6%) advertising revenue continues to be a jewel in its crown and comfortably outperforms the market. However, a fall in viewer numbers has been highlighted as something it wishes to work on, with next year’s Rugby World Cup one of the aces up its sleeve. The stock has languished somewhat since its early Autumn highs, and at around 200p it is relatively unchanged year-to-date despite a large trading range throughout the year.

Virgin Money began trading in London this morning with a listing price of 283p, and has behaved in an orderly fashion so far, trading thruppence higher. The shares priced near the bottom of the expected range to give a market cap of £1.25 billion. IG’s grey market had initially called for a higher valuation but tracked lower as we got closer to deadline day and was only marginally higher when the final price was announced. Despite the resurgent equity market of the last few weeks, the IPO market is still being greeted with some scepticism by investors. 

US markets will look to Walmart earnings pre-market for a bottom-up look at the economy. Markets there paused somewhat yesterday but with New York Federal Reserve president William Dudley, speaking in Dubai this morning, pointing out once again it is too early for rate rises given such low inflation, equities are still getting help from central bank speakers.

Currently we are calling the Dow Jones to open 50 points higher at 17,660.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.