Friday 28 February 2014 2:40 am

What you need to know before the open

European bourses are set to open slightly higher this morning, after Fed chair Janet Yellen yesterday acknowledged the possibility that recent severe weather in the US could have impacted economic data.

She also confirmed the Fed remains on track with its tapering programme.

US markets finished on a record high yesterday, with the S&P 500 close above the 1,850 level.

Over in Asia, investors stayed cautious in Friday trading, with tensions rising in Ukraine. Japan’s Nikkei share average fell for the third day running.

Corporate news

Rightmove has posted promising results, with traffic to its website increasing 27 per cent to 14bn page impressions last year.

Old Mutual had bought advice network Intrinsic for an undisclosed amount. The group saw profit before tax increase 9.5 per cent last year to £1.5bn.

William Hill has announced a seven per cent fall in profit before tax, as its chief executive stressed the politicised nature of the gaming business. He said the firm’s looking to improve “responsible gambling outcomes”. Their online revenue rose ten per cent, however.

And publisher Pearson has said it expects its 2014 earnings will fall, publishing results for 2013 that reflect an already-downgraded forecast. The group’s been hit by a dwindling market in the US.

In the UK

Figures from Nationwide have shown house prices rose again in February, marking the 14th month of increases.

And energy regulator Ofgem has told the Big Six to hand back hundreds of millions of pounds of credit, left in closed accounts, to customers.

In Europe

German shoppers began 2014 optimistically, with retail sales rising by 2.5 per cent in January. That’s the biggest monthly increase since pre-crisis February 2007.

Sales were 1.4 per cent higher than the average monthly sales in the fourth quarter, making the first quarter of this year look very promising.

Data in focus