Sky on a high, Ladbrokes on a winning streak

London open

The FTSE 100 is expected to open 13 points higher on Thursday, adding to its minimal gain to 6,410.26 the previous session.

Stocks to watch

Broadcaster Sky reported strong growth in customer numbers on Thursday, surpassing the 40m-home mark in the UK with 177,000 new customers signing up to its services in the third quarter to 31 March. Revenue in the first three quarters was up 5% to £8.72bn, with profit rising 12% to £1.14bn - an all-time record nine-month profit.

Unlike some of its rivals, Ladbrokes got off to a flier in the first quarter, with encouraging sales growth that indicates indicates new chief executive Jim Mullen's turnaround plan is working. Group net revenue jumped 10.6% in the three months ended 31 March, with UK Retail net revenue up 4.1% and digital revenue up 36.5%.

SABMiller said group net producer revenue fell by 5% for the fourth quarter and 8% for the full year due to the adverse translational impact depreciation of its key operating currencies against the US dollar. On a constant currency basis full-year group net producer revenue grew by 5% with volume growth of 2% and price and mix realisation of 3%.

Newspaper round-up

Hedge funds have suffered their worst quarter in seven years after more than $15bn was pulled out by investors starting to fight back against the high fees being charged across the industry. The total amount invested in hedge funds fell to $2.86tn in the first three months of the year, marking the first time since 2009 that the sector has faced two consecutive quarters of net outflows, according to data from Hedge Fund Research. – Financial Times

Anglo American is braced for a revolt over rewards for top executives, with indications that more than a third of investors will fail to back the miner’s pay policies. A trio of investor advisory groups have urged shareholders to vote against Anglo’s pay report ahead of its annual shareholder meeting on Thursday. Mark Cutifani, the miner’s chief executive, was awarded a £3.4m pay package last year, when Anglo’s shares were the UK’s worst-performing blue-chip stock. – Financial Times

Greece could crash out of the eurozone as early as this summer if Britons vote to leave the European Union in the upcoming referendum, economists have predicted. The uncertainty following a 'yes' vote to Britain leaving the EU would put unsustainable pressure on Greece’s cash-strapped economy at a time when it is also struggling to cope with an influx of migrants escaping turmoil in the Middle East and Africa, according to a report from the Economist Intelligence Unit. – Telegraph

Older homeowners unlocked a record amount of value from their properties in the first three months of 2016, cashing in to the tune of £393m. The figures show housing wealth is “centre stage in financial planning for later life”, said the Equity Release Council, which reported the biggest quarter for lending in its 25-year history. – Guardian

US close

US stocks ended higher on Wednesday as oil prices rebounded from earlier lows.

The Dow Jones Industrial Average rose 0.24%, the S&P 500 increased 0.08% and the Nasdaq climbed 0.16%.

Oil prices rose as US government data showed weekly crude inventories rose less than expected. Crude inventories increased by 2.1m barrels to 538.6m last week, compared to analysts’ forecasts for a 2.4m gain, according to the Department of Energy.