LONDON Feb 25 Britain's FTSE 100 futures contract was
down 0.2 percent on Tuesday, with the cash market in technically overbought
territory and set to consolidate near recent highs, according to financial
* The UK blue chip index closed up by 0.4 percent, or 27.80 points, at
6,865.86 points on Monday, just 1.2 percent below its December 1999 record level
of 6,950.60. The index rose for its seventh straight session and had a relative
strength indicator (RSI) reading on a nine-day basis of around 80. If a market
has an RSI above 70, it indicates it is technically "overbought" while under 30
shows it is technically "oversold".
* London copper on Tuesday bounced from its lowest level in more than two
* GKN : British car and plane parts maker GKN reported a 17 percent
rise in annual profit, beating analyst expectations, as strong demand in its
automotive unit offset sluggish growth in military markets.
* ASHMORE : The emerging markets-focused fund management group
reported net outflows of assets.
* COBHAM : British defence supplier Cobham said it had voluntarily
contacted the U.S. Department of Justice to inform it of an initial internal
investigation into potentially irregular sales practices concerning sales to
Asia of products made by a Cobham unit.
* CRODA : British specialty chemical maker Croda International Plc
said it expects currency translation to have an adverse impact on profit growth
* LADBROKES : The UK-listed gambling company reported a 32.9 percent
fall in 2013 profits.
* PERSIMMON : The British housebuilder posted a rise in annual
* PROVIDENT FINANCIAL : British sub-prime lender Provident Financial
boosted its 2013 pretax profit before exceptional items by 9.9 percent to 196.1
million pounds ($326.1 million), helped by strong growth from Vanquis Bank.
* ST JAMES'S PLACE : British investment manager St James's Place is
close to making an acquisition in Asia as part of an overseas expansion aimed at
establishing a new client base of expatriates.
* DRAX GROUP : Brussels has initiated a preliminary probe into the
possible breach of state aid rules by the UK in guaranteeing a 75 million
pound-loan to Drax Group, operator of Britain's biggest power station, the
Financial Times reported late Monday.
* BHP BILLITON : Top global miner BHP Billiton said on
Tuesday it will suspend production at its Yarrie iron ore mine indefinitely as
part of its drive to cut costs.
* BP : BP Plc began the planned overhaul of a 65,000 barrel per day
(bpd) gasoline-producing fluidic catalytic cracking unit at its 405,000 bpd
refinery in Whiting, Indiana, on Monday, according to a source familiar with
operations at the refinery.
TODAY'S UK PAPERS
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