London open: Stocks slip after Bernanke caution
23rd Jun 2011 08:32
Shares are in the red after the US Federal Reserve's more cautious stance last night on the growth prospects of the world's biggest economy. Asset manager The Carlyle Group is to buy roadside assistance provider RAC from insurance giant Aviva, a riser today, for one billion pounds. The transaction
Read moreEnd of the road for RAC at Aviva
23rd Jun 2011 07:55
Asset manager The Carlyle Group is to buy roadside assistance provider RAC from insurance giant Aviva for one billion pounds. The transaction values RAC, the UK's second largest driver-membership scheme provider, at 17 times 2010 net earnings, Aviva said. The current RAC management team, led by RA
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreFTSE 100 movers: Glenore dismisses rumours, shares drop
15th Jun 2011 14:08
Glencore is the worst performing stock on the blue chip index as of Wednesday afternoon. In a brief statement in response to press speculation, the commodities trader stated that it is not actively considering an offer for Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The offi
Read moreEx-ANZ boss to chair Aviva
15th Jun 2011 13:46
Insurance colossus Aviva has confirmed Royal Bank of Scotland (RBS) non-executive director John McFarlane will be its new chairman. McFarlane, currently based in Australia, will relocate to the UK and take over as chairman of Aviva from Lord Sharman of Redlynch at the end of June 2012. He will joi
Read moreLondon close: Stocks fall back after poor US start
17th May 2011 16:43
Stocks were nursing substantial losses at the close of play after a poor start on Wall Street. Computer maker Hewlett-Packard sent a chill across the markets as it lowered its profits guidance. Chip-maker ARM Holdings was the heaviest faller here. India-focused energy firm Essar Energy led the ris
Read moreFTSE 100 movers: Essar tops the risers after 'solid' quarter
17th May 2011 15:35
India-focused energy firm Essar Energy is the best performer after it reported a "solid operating performance" in the first quarter with total generation 10% higher than the same period the year before. Mobile telecommunications giant Vodafone is one of the high risers after strong growth in emerg
Read moreLondon midday: FTSE 100 little changed as updates impress
17th May 2011 12:13
The leading share index is flat now after winning back some early losses, with company updates helping to send stocks higher. India-focused energy firm Essar Energy leads the risers in the FTSE 100 after it reported a "solid operating performance" in the first quarter with total generation 10% high
Read moreLondon open: Stocks ease despite cheery updates
17th May 2011 08:28
Stocks are back below 5,900 points despite a decent reception for company updates. Strong growth in emerging markets and the increasing popularity of smartphones helped the mobile telecommunications giant Vodafone post higher revenues and profits in the year to 31 March. Adjusted pre-tax profits ro
Read moreLondon pre-open: Stocks to follow Wall Street lower
17th May 2011 07:45
Last night's late rally in London is not expected to continue, with stocks set to follow Wall Street lower, as concerns about the Greek debt crisis rumble on. City traders expect the Footsie to open around 30 points lower at 5,893. Strong growth in emerging markets and the increasing popularity of
Read moreAviva motoring
17th May 2011 07:15
Insurance giant Aviva highlighted the performance of its UK general insurance sales, which topped the billion pounds mark, as it made a solid start to the year. Net written premiums in the first quarter of 2011 were up 9% on the corresponding quarter and up 14% on the preceding quarter at £2.69bn.
Read moreTuesday preview: Aviva, Vodafone
16th May 2011 16:22
General insurer Aviva brings out a first quarter interim management statement on Tuesday that will include life new business figures. Broker Panmure Gordon is forecasting sales of £9,475m on a present value of new business premiums basis, and expects business margins to have improved from 2010. "T
Read moreFTSE 100 movers: Oil and metals stocks edge rise higher
13th May 2011 15:34
Commodity price-sensitive stocks were wanted today, as the prices of precious metals and oil recovered from the recent sell-off. Oil services group Petrofac is higher after saying it is "increasingly confident" that it will deliver profit growth in line with previous guidance after a strong perform
Read moreFTSE 100 movers: Shire and Astra take a hit
28th Apr 2011 15:25
Drug groups Shire and AstraZeneca are lower are reporting their first quarter results. While Shire posted a strong rise in revenues and profits in the period, sentiment seems to have been hit by sector peer Astra which cited US healthcare reform measures and generic competition as the reasons why it
Read moreLondon close: Shares slump as worries resurface
12th Apr 2011 16:38
The top share index's losses were almost in the triple digits by the close of trade after a steady day of losses amid worries over global economic growth. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its
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