London pre-open: Stocks seen muted after slightly weaker US close
By Michele Maatouk
Date: Wednesday 27 Mar 2024
(Sharecast News) - London stocks were set for a muted open on Wednesday following a slightly weaker close on Wall Street.
The FTSE 100 was called to open just four points lower.
In corporate news, Diploma said it had bought Peerless Aerospace Fastener, a distributor of specialty fasteners into the US and European aerospace markets for £236m.
CMC Markets said it now expects FY 2024 net operating income to exceed the top end of the previously guided range of £290m to £310m as positive momentum continued into the fourth quarter after a strong performance in Q3.
"We continue to see strength in the institutional and B2B business as the group benefits from the long-term investments in this area," it said.
"The group also has a strong pipeline of B2B partnerships some of which are in the advanced stages."
Elsewhere, Travis Perkins said its chief executive Nick Roberts was stepping down from his position and the company's board after serving for five years.
It said the board and Nick had mutually agreed that it was the appropriate time to search for a new leader to guide the business forward.
Roberts will continue in his role until a suitable successor is found, with the Nominations Committee currently engaged in a thorough search process for his replacement, it said.
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