It was a more localised investment picture from Asia overnight: a higher yen hurt Japanese stocks – the Nikkei slipped -0.43% – while fourth quarter Japanese economic growth slowed, despite a stellar eight quarter run. The Hang Seng though soared almost +1.8% with strong performances from financials including China Construction Bank.
A robust showing too for the South Korean Kospi, up +1.11% with Samsung shares up strongly again, increasing +1.63% meaning the electronics and industrials heavyweight is near to closing the gap on monthly losses. However shares in Lotte Shopping were clipped more than -5% following the unexpected imprisonment of its chairman Shin Dong-bin.
US shares trod water yesterday with all main indices eking out small-to-modest gains by day’s end; the Nasdaq however climbed +0.45% to 7,013.51. Still it was the third daily gain for US stocks following last week’s gyrations.
Over much of trading today hangs the US consumer price inflation data report. If numbers rise that will push Federal Reserve interest rate sentiment higher, extending stock market worry – and volatility. The pound was steady at 7am, up +0.1% to 1.3898 but -0.04% weaker against the euro at 1.1232.
- UK FTSE 100 7,168.01 -0.13%
- DAX 12,196.50 -0.70%
- CAC 40 5,109.24 -0.60%
- Euro Stoxx 600 370.58 -0.63%
- Dow 24,640.45 +0.16%
- S&P 500 2,662.94 +0.26%
- Nasdaq 7,013.51 +0.45%
- Nikkei 225 21,154.17 -0.43%
- Gold 1,336.20 +0.43%
- Oil WTI 59.18 -0.02%
Sky & BT Sport to show 160 games in £4.46bn deal
Overnight it emerged that payTV outfits Sky and BT Sport will pay £4.46bn for the Premier League broadcast rights for 2019-20 – three seasons – though this amount is a reduction on the £5.1bn paid for last rights period.
Sky Sports will have 128 games per season – this includes 32 matches on a Saturday at 5.50pm – while BT Sport have the rights to broadcast 32 matches per season on Saturday at 12:30. (Back in December both companies agreed to offer channel access to each other’s subscribers.)
It’s thought BT paid £885m while Sky paid more than £3.5bn. Sky will pay overall £9.3m a game compared to approx £11m last time around. Both companies are claiming a more “disciplined” approach to the bidding process. However overseas rights still have to be settled.
Coca-Cola HBC revenues 'fizz'
There was much enthusiasm from Coca-Cola HBC this morning claiming “Exceptional” results (in capitals). But the below-line reading was a more mundane affair: volumes across its established market were up +1.1% though +2.8% higher in developing markets.
“Net sales revenue of €6.5bn was up +4.9% compared to the prior year. This is only one percentage point lower than the revenue growth on an FX-neutral basis, as the recovery in the Russian Rouble in 2017 offset most of the significant negative impact of the Nigerian Naira depreciation in the year,” said the company.
The board is proposing a full-year dividend of 0.54 euros per share, a +23% increase on the 2016 dividend, subject to approval.
Breaking news: Housebuilder Galliford Try is snipping its dividend in the aftermath of the Carillion implosion. It wants to raise £150m in new equity "in the coming weeks". The German economy grew +2.2% in 2017 according to latest full-year numbers from the Federal Statistics Office.