Tuesday newspaper round-up: Co-op Bank, N Brown, Lonmin...
4th Jun 2013 06:38
According to The Times, The Co-operative Bank filled a big hole in its balance sheet with 900m pounds of cheap funding from the Bank of England in March through its Funding for Lending Scheme. "The same month it decided to stop offering corporate loans to new customers in recognition of the scale of
Read moreLondon pre-open: Stocks to start the week lower after Chinese data
3rd Jun 2013 07:40
Markets are expected to be under pressure on Monday morning after economic figures from China showed that the manufacturing sector contracted at a faster-than-expected rate in may. The final reading of the Chinese manufacturing purchasing managers' index (PMI) was revised lower to 49.2, worse than
Read moreABF subsidiary to repay 150m in redeemable debenture stock
3rd Jun 2013 07:13
FTSE 100-listed Associated British Foods(ABF) has reported that its wholly-owned subsidiary British Sugar will repay at par and in full the principal amount of 150m pounds of the 10.75 per cent redeemable debenture stock 2013 on July 2nd. In a statement issued on Monday, ABF stated that British Sug
Read moreMonday newspaper round-up: ENRC, Vodafone, AB Foods...
3rd Jun 2013 06:39
The Times cites an internal review at mining group ENRC which recommended the firm to dismiss 20 of its senior staff for fraud and discipline more than 60. "The alleged wrongdoing at the FTSE 100 miner included employees using company money to buy a guesthouse, a farming business and a horse farm, a
Read moreMonday broker round-up UPDATE
20th May 2013 08:32
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating. Amlin: Morgan Stanley ups target price from 428p to 469p, while maintaining an overweight rating. Anite: Espirito Santo cuts target price from 180p to 165p retaining a buy recommendation. Ashtead Group: UBS takes
Read moreLondon close: FTSE 100 hits new multiyear highs after US data
17th May 2013 16:29
The FTSE 100 rallied in afternoon trade after some better-than-expected economic data from the States, pushing the index to new five-and-a-half-year highs. A strong surge so far this month has now lifted London's equity benchmark to within touching distance of the 2007 high of 6,751. The Footsie ha
Read moreSector movers: Food stocks fall on readacross from sugar giant Suedzucker
17th May 2013 14:39
A gloomy outlook from Europe's largest sugar producer saw food manufacturing stocks in the UK slump on Friday afternoon. Following record results in the 12 months to February 28th 2013, Germany-headquartered Suedzucker, which produces nearly five million tonnes of sugar a year, warned that profits
Read moreLondon midday: Markets rally as banks rise
17th May 2013 11:47
After a subdued start, the FTSE 100 pushed into positive territory ahead of the opening bell in New York with financials leading the rise after a broker upgrade. The Footsie breached the 6,700 mark yesterday for the first time since mid-2007 after 10 consecutive sessions in the blue, before falling
Read moreLondon close: FTSE 100 snaps winning streak after poor US data
16th May 2013 16:41
The FTSE 100 has finally ended its long-running winning streak after poor economic data from the States dampened stocks by the close of trade on Thursday. Markets were relatively rangebound for most of the session today, teetering around a five-and-a-half-year high of 6,700 following 10 consecutive
Read moreTuesday newspaper round-up: Royal Mail, AB Foods, BP...
30th Apr 2013 06:23
According to The Independent, the government is searching for banks to handle a possible initial public offering for Royal Mail this week. A flotation this year is the preferred option. The Telegraph writes that Primark, the fashion chain owned by Associated British Foods, is to pay compensation to
Read moreWednesday broker round-up UPDATE
24th Apr 2013 08:25
Archipelago Resources: Canaccord Genuity lowers target price from 75p to 68p keeping a buy recommendation. ARM Holdings: Morgan Stanley ups target price from 911p to 925p maintaining an equal-weight rating. Deutsche Bank takes target price from 445p to 460p, but still recommends selling. Citigroup
Read moreLondon close: FTSE 100 jumps two per cent on stimulus hopes
23rd Apr 2013 16:59
Markets on the whole shrugged off disappointing data from the Chinese manufacturing sector on Tuesday, as decent corporate earnings and stimulus hopes in Europe pushed the FTSE 100 two per cent higher. The Markit Eurozone composite purchasing managers' index (PMI) released this morning was unchange
Read moreFTSE 100 movers: ARM rises on strong quarterly rise
23rd Apr 2013 15:21
Shares in chip designer ARM Holdings leapt after it reported strong quarterly revenue and earnings growth, fuelled by licensing and record royalty revenue and said it expects full year results to be at least in line with current market expectations. Also on the up was Associated British Foods, whi
Read moreLondon midday: ARM leads markets higher after strong first quarter
23rd Apr 2013 11:31
The UK stock market was making decent gains by Tuesday lunchtime as strong performances from ARM Holdings, AB Foods and IAG helped to offset some weakness in the mining sector. Sentiment was lifted this morning as gloomy economic data from the Eurozone sparked speculation that it could open the doo
Read moreLondon open: Markets rise despite concerns over China
23rd Apr 2013 08:20
Decent gains for ARM Holdings, Associated British Foods and Rolls-Royce were providing a boost to London's stock market on Tuesday morning, offsetting relative weakness in the heavyweight mining sector. Miners were under pressure early on after a disappointing reading of Chinese manufacturing. The
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