Rightmove earnings expand, William Hill profits retreat as expected

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The FTSE 100 is expected to open 29 points higher on Friday, having closed down 0.46% at 7,074.73 on Thursday.

Stocks to watch

Dutch authorities have told Royal Dutch Shell that they are close to prosecuting the company over a case linked to alleged bribery in Nigeria. Nearing the conclusion of their investigation, the Dutch Public Prosecutor’s Office said it is preparing to prosecute Shell for criminal charges directly or indirectly related to the 2011 settlement of prospecting license 245 in Nigeria, which is held jointly by Shell Nigeria and the exploration arm of Nigeria's Agip.

William Hill reported a 2% improvement in its full-year group net revenue on Friday, to £1,621.3m, as its adjusted operating profit from existing operations slid 3% to £266.8m, which was in line with expectations. The FTSE 250 gambling firm said that for the year ended 26 December, its operating cash flow before movements in working capital was up 9% to £275.0m. It confirmed a full-year dividend of 12.0p per share, which was in line with its policy to pay out around 50% of underlying earnings, based on adjusted earnings per share before the costs of its US expansion costs 2018.

Rightmove posted an 11% rise in 2018 pre-tax profit on Friday, with growth in revenue and traffic, as the company said the UK online property advertising market is set to continue growing. Pre-tax profit increased to £198.3m from £178.2m in 2017, on revenue of £267.8m, up 10%. Meanwhile, operating profit was up 11% to £198.6m and the final dividend was boosted 11% to 4p a share.

Newspaper round-up

Barclays’ former chief executive has defended a 2008 Qatari investment as key to the bank’s global ambitions but distanced himself from negotiations that led to a complex agreement that is at the heart of a criminal trial. A jury at Southwark crown court was read statements from three of the four defendants facing charges, including the former chief executive, John Varley. The statements were originally issued to Serious Fraud Office investigators in 2014. – Guardian

Gambling-style features in computer games, which encourage players to pay for items such as loot boxes that may be worth very little, warrant stricter oversight by the Gambling Commission to prevent them becoming a “gateway” to betting addiction, Labour’s deputy leader, Tom Watson, said. Speaking as he proposed much tighter controls on online gambling, including caps on the amount that consumers can gamble, Watson said not enough was being done to deal with gambling through games. – Guardian

Public support for renationalising the water industry has plummeted after a recent survey revealed that British adults trust their water company more than a local council. The survey found that almost nine in ten adults trust their water company to deliver the essential service. Meanwhile only a third of the public said they had confidence in local councils and trade unions to play a role in doing so. – Telegraph

Tesla has fulfilled its long awaited promise to start selling a $35,000 car, as it announced it would be closing stores and moving all sales online. The electric car company released a more affordable version of its Model 3 car for customers to order on its website last night, fulfilling a long-held commitment to make the car cheaper. – Telegraph

Brussels has accused Britain of enabling tax avoidance by big business in a move that may foreshadow a post-Brexit battleground. In its annual report on the UK, the European Commission drew particular attention to dividend tax arrangements, which it claimed made Britain attractive for “treaty shopping” and “aggressive tax planning”. – The Times

US close

Wall Street’s main indices were all in the red at the closing bell on Thursday, after a session in which investors mulled the abrupt end to Donald Trump's denuclearisation summit with North Korean leader Kim Jong-un, with no agreement reached.

The Dow Jones Industrial Average ended down 0.27% at 25,916.00, the S&P 500 shed 0.28% to 2,784.49, and the Nasdaq 100 was 0.27% lower at 7,097.53.

At the open, the Dow shook off some of its earlier losses as news that the Vietnam summit between Trump and Kim Jong-un had ended with no agreement weighed on the mood.

“No agreement was reached at this time, but their respective teams look forward to meeting in the future,” commented White House press secretary Sarah Sanders.

Meanwhile, Trump said at a press conference in Hanoi that the talks had ended with no deal due to a disagreement over the lifting of sanctions.