Micro Focus hikes dividend 14%, TP ICAP snaps up US energy firm
London open
The FTSE 100 was being called 14 points higher on Monday morning.
Stocks to watch
Software group Micro Focus hoisted its interim dividend 16% to 34.60 cents a share as it said pre-tax profits rose 28.7% to $145.7m in the first half of its financial year. Operating profits rose 34.7% to $220m, while basic earnings per share fell 9.5% to 35.83 cents. The company said its chief financial officer Mike Phillips would move to a new position as director of mergers and acquisitions with his former role filled by Chris Kennedy.
TP Icap has acquired US-based energy and commodities broker SCS Commodities based for an undisclosed cash sum and further performance-related amounts over five years. SCS's 26 brokers specialise in in crude oil futures, soft commodities, petroleum and refined products, natural gas options and crude oil options.
Babcock said it will lead consortium to bid for the UK Ministry of Defence's new £1.25bn Type 31e general purpose light frigate programme.
Newspaper round-up
Commuters are facing a week of disruption as workers in five rail companies prepare for strike action over the role of train guards. Members of the Rail, Maritime and Transport union (RMT) will walk out on Monday, Wednesday and Friday in the first full week back at work following the festive break after last-ditch talks collapsed. – Guardian
Confidence among Britain’s businesses appears brittle as fears about trade and economic growth have escalated in a trio of surveys. Brexit has been identified as the biggest concern among those in control of company finances and is likely to lead to more subdued spending by businesses, according to a Deloitte survey. – Telegraph
Public houses look to have cashed in on the nation’s Christmas spirit thanks to insatiable demand for premium drinks and longer opening hours to help elongate the festivities. Privately owned pub groups have reported buoyant Christmas trading and analysts are expecting upbeat data from some of their larger publicly traded rivals, particularly those with a skew towards drink sales. – Telegraph
US close
The records kept coming on Wall Street on Friday as equities soared to their fourth straight day of gains, shrugging off a raft of weaker-than-expected economic data.
At the close, the Dow Jones Industrials Average had piled on another 210 points, or, 0.89% to 25,289, the S&P 500 gained 19 points to 2,743 and the Nasdaq Composite 59 points to 7,137.
US non-farm payrolls rose by just 148,000 in December, falling short of the 175,000 increase expected by the consensus, amid weak hiring in retail.