LONDON, Feb 25 (Reuters) - 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 bookmakers.
* 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 weeks.
* 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 in 2014.
* LADBROKES : The UK-listed gambling company reported a 32.9 percent fall in 2013 profits.
* PERSIMMON : The British housebuilder posted a rise in annual profits.
* 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.
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