London open: Influx of earnings and economic data keeps stocks flat

26th Feb 2015 08:24

UK stocks were more or less flat on Thursday morning with markets fluctuating at record highs amid a barrage of corporate earnings and economic data.The FTSE 100 was up just 0.03% at 6,937.80 early on. The index set a closing all-time high of 6,949.63 on Tuesday, having reached an intraday record of 6,958.89 that same day.Annual results from a number of blue chips received a mixed reaction from investors in London with British American Tobacco, Capita, CRH, Reed Elsevier, RSA and Royal Bank of Scotland all reporting.Meanwhile, Thursday morning was looking pretty busy in terms of economic data with the release of German consumer confidence and unemployment figures, Eurozone money supply and sentiment data, and gross domestic product estimates in the UK.Later on there will be inflation, jobless claims and durable goods orders due out in the States.Earnings come in thick and fastRBS was more or less flat early on after having more than halved its full-year losses to £3.47bn despite a £4bn write-down on its US arm Citizens Financial and a £1.9bn tax charge. The bank also confirmed the appointment of Sir Howard Davies as its new chairman.Cigarette maker British American Tobacco was higher after reporting a less-than-expected 8.4% fall in 2014 revenue to £13.97bn, compared with the consensus forecast of £13.89bn.Capita was weaker as the outsourcing and business services giant underwhelmed with a 13% rise in underling pre-tax profit to £535.7m last year.Investors also gave a cool reaction to plans by Anglo-Dutch information group Reed Elsevier to combine its two parent companies and rename itself RELX Group. The company also said underlying adjusted operating profit rose 5% to £1.74bn in 2014 as it forecast another year of growth in 2015.Building materials group CRH was lower despite beating expectations with a 5% rise in sales to €18.9bn last year.RSA Insurance returned to an annual profit and recommenced its dividend but disappointed with the announcement that its chief financial officer is stepping down.Standard Chartered rose after appointing former JPMorgan boss Bill Winters as its new chief executive as it confirmed current head Peter Sands will step down in June. In a reshuffle that will eventually see the board slimmed down to 14 directors, the bank also announced that chairman John Peace will step down in 2016.Diageo and Easyjet were both trading lower after going ex-dividend.Market MoverstechMARK 3,148.57 -0.06%FTSE 100 6,937.80 +0.03%FTSE 250 17,180.68 -0.04%FTSE 100 - RisersMorrison (Wm) Supermarkets (MRW) 197.90p +2.59%Antofagasta (ANTO) 773.00p +2.52%Anglo American (AAL) 1,247.50p +1.84%Tullow Oil (TLW) 403.50p +1.66%BHP Billiton (BLT) 1,666.50p +1.62%Sainsbury (J) (SBRY) 275.70p +1.47%British American Tobacco (BATS) 3,785.50p +1.46%Rio Tinto (RIO) 3,215.50p +1.42%SABMiller (SAB) 3,685.50p +1.40%Randgold Resources Ltd. (RRS) 5,115.00p +1.39%FTSE 100 - FallerseasyJet (EZJ) 1,732.00p -4.47%Reed Elsevier (REL) 1,145.00p -3.54%RSA Insurance Group (RSA) 439.30p -2.44%Royal Bank of Scotland Group (RBS) 396.20p -1.76%Pearson (PSON) 1,391.00p -1.56%Sky (SKY) 989.50p -1.54%United Utilities Group (UU.) 942.50p -1.31%Direct Line Insurance Group (DLG) 327.80p -1.27%ITV (ITV) 225.30p -1.18%SSE (SSE) 1,567.00p -1.14%FTSE 250 - RisersDomino's Pizza Group (DOM) 741.00p +7.00%Howden Joinery Group (HWDN) 456.70p +3.89%Bank of Georgia Holdings (BGEO) 1,806.00p +3.20%Hunting (HTG) 486.20p +3.18%Playtech (PTEC) 758.50p +2.78%RPS Group (RPS) 247.70p +2.78%Amec Foster Wheeler (AMFW) 897.50p +2.57%Supergroup (SGP) 1,000.00p +2.56%Saga (SAGA) 189.50p +2.43%Ladbrokes (LAD) 116.90p +2.36%FTSE 250 - FallersBeazley (BEZ) 295.00p -7.09%Cranswick (CWK) 1,377.00p -2.75%Telecom Plus (TEP) 1,069.00p -2.73%Spire Healthcare Group (SPI) 317.30p -2.67%COLT Group SA (COLT) 146.60p -2.46%Workspace Group (WKP) 825.00p -2.08%National Express Group (NEX) 267.30p -2.05%Domino Printing Sciences (DNO) 740.00p -2.05%Synthomer (SYNT) 265.20p -2.03%Afren (AFR) 9.71p -1.92%