eOne to make more Peppa Pig, Hikma updates guidance

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The FTSE 100 is expected to open 26 points higher on Friday, after closing down 0.89% at 7,436.42 on Thursday.

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Pharma group Hikma has updated its guidance on full year revenue to be $2bn - $2.1bn in constant currency after last week's rejection of its asthma drug by US regulators. This change reflects changes in the outlook for Hikma's generics business, where it has revised expectations for the launch timing of its generic version of Advair Diskus and where it is experiencing increased price erosion on marketed products.

Entertainment One announced the start of production on a new series of Peppa Pig on Friday. The FTSE 250 company said the show's award-winning animation studio, Astley Baker Davies, would be producing the new series which will bring the total number of Peppa Pig episodes to 381. It said the 117 new episodes are scheduled to launch on air globally from Spring 2019 and secure a pipeline of Peppa Pig content over the following four years.

Private landlord group Grainger hiked its interim dividend 10% after a first half where it secured half of its investment target and cut costs in a market where the proportion of privately rented homes is at its highest levels since records began in 1980. Net rental income of £20.0m was generated in the six months ended 31 March 2017, up 11% on the same period last year, with profit before tax up 13% to £41.2m. The dividend was hiked 10% to 1.60p per share.

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British consumers are bracing themselves for an expensive and uncertain post-Brexit future, with four out of five fearing price rises on household essentials such as food, drink and clothing, a survey has revealed. Eighty-three percent of Britons admit they are concerned about price hikes in goods and services, while 59% are most worried about the soaring cost of groceries, according to a poll for Mintel’s 27th annual British Lifestyles report. Spiralling holiday costs are a concern for 35%, with 26% fearing higher prices for clothing and shoes. - Guardian

Almost 900 UK companies have been bought out by overseas businesses since the pound fell after the EU referendum in June, underlining their vulnerability to foreign buyers. There were almost 950 takeovers of UK companies by international rivals in 2016, of which more than half followed the Brexit vote. That was the joint highest number since at least 1995, according to Dealogic, the financial analytics company. - The Times

Almost 900 UK companies have been bought out by overseas businesses since the pound fell after the EU referendum in June, underlining their vulnerability to foreign buyers. There were almost 950 takeovers of UK companies by international rivals in 2016, of which more than half followed the Brexit vote. That was the joint highest number since at least 1995, according to Dealogic, the financial analytics company. - Telegraph

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US stocks rebounded on Thursday, as Wal-Mart and Apple gained and combined with economic data to boost the mood.

Following the worst trading day in over seven months amid impeachment calls for President Donald Trump, the Dow Jones Industrials Average bounced back modestly with a 0.27% gain to 20,663.02, while the S&P 500 climbed 0.37% to 2,365.72, alongside a 0.73% improvement for the Nasdaq composite.

"Such a bounceback was eminently predictable, especially since there have been no further developments in Trumpland," said IG's chief market analyst Chris Beauchamp, though news titbits continued to emerge around Trump's sacking of FBI chief James Comey as he was investigating possible links between the billionaire property developer and Russia in the run up to last year's election.

"The rally is small, and in no way really changes the bearish picture that was created yesterday – once options expiry and the weekend is out of the way there is a high probability that the selling will resume," Beauchamp said.