London open: Big guns lift Footsie
2nd Nov 2010 08:55
Results from the big guns reporting this morning have generally been favourable, helping Footsie to notch up decent gains so far. Beleaguered oil giant BP comfortably beat third quarter profit forecasts though it has had to take an additional $7.7bn charge in respect of the Gulf of Mexico oil spill
Read moreCost-cutting Aviva in line for strong 2010
2nd Nov 2010 07:40
Insurer Aviva is on track to deliver strong profitable growth for 2010 after a decent third quarter following "good sales growth" from both life and general insurance businesses. Worldwide total sales were up 5% during the first nine months of 2010 at £35.9bn, long-term savings sales rose 6% to £
Read moreLondon open: Slow progress for blue chips
29th Oct 2010 08:42
London has made modest early gains despite a poor session in Asia and unconvincing display on Wall Street overnight. British Airways is lower even though it swung to a profit in the first half as the airline improved yields and cut costs. It made a pre-tax profit of £158m in the six months ended 30
Read moreFTSE 100 movers: Aviva boosted by break-up talk
4th Oct 2010 13:22
There were reports in this morning's papers that RSA, Resolution, Switzerland's Zurich Financial Services and Germany's Allianz considered a multibillion-pound break-up bid for insurer Aviva. Credit Suisse has commenced coverage of building supplies group Wolseley with an outperform recommendation
Read moreLondon midday: Inmarsat hit by stake sale talk
4th Oct 2010 12:02
Resource stocks remain a drag on the Footsie which ended the morning in arrears after a moderately firm start. BP, Cairn Energy and Melrose Resources are among the big hitters in the oil sector nursing losses, while in the mining sector Xstrata, Lonmin and Antofagasta are under the cosh. Anglo-Swi
Read moreLondon open: Gains short-lived
4th Oct 2010 08:37
Renewed interest in the insurance sector and strong miners nudged London into positive territory, but Monday morning blues soon kicked in and stocks are now in the red. Reports in his morning's papers reveal RSA, Resolution, Switzerland's Zurich Financial Services and Germany's Allianz discussed mo
Read moreMonday newspaper round-up: Interest rates, RBS, Lloyds
4th Oct 2010 06:16
Sir John Gieve, the former deputy governor of the Bank of England, has stepped into the increasingly divided debate over monetary policy and urged the Bank not to print more money. Claims that Britain's economy was heading into a Japanese-style slump were far too pessimistic, Sir John said in an i
Read moreFTSE 100 movers: Miners head higher
22nd Sep 2010 13:03
Gold continues to rise in price as the dollar declines and that is propelling mining companies higher. Gold miners, such as Randgold Resources and African Barrick Gold, are higher while other miners, such as Xstrata and Antofagasta, are hoping that there will be more stimulus measures for the glob
Read moreThursday newspaper round-up: BP, Aviva, Rok
16th Sep 2010 06:07
BP may abandon plans to drill for oil in deep water off the Shetland Islands amid continuing criticism of the company over its safety practices, Tony Hayward revealed last night. In one of his final public appearances as chief executive of the oil producer, Mr Hayward told the Commons Energy Select
Read moreLondon close: Sluggish Footsie limps higher
10th Sep 2010 16:38
Modest gains on Wall Street failed to spur London into action and the leading share index closed just a few points higher. US shares were boosted by economic figures showing wholesale inventories jumped by 1.3% in July, ahead of estimates, and sales at distributors rose by 0.6%. Among companies he
Read moreFTSE 100 movers: Financials move higher
10th Sep 2010 16:05
Financials are pushing the Footsie higher. Interdealer broker ICAP is the best performer with Aviva, 3i, Admiral, Lloyds and Legal & General not far behind. Miner ENRC continues to decline because of its dispute with First Quantum concerning ENRC's acquisition of a majority interest in Camrose Re
Read moreLondon afternoon: Main index little moved
10th Sep 2010 14:39
We're little changed from last night's close as Wall Street opens, with a largely bright financials sector offset by mostly weaker commodity plays. Most banks have done well - Barclays excluded - on hopes that new banking rules announced this weekend will be favourable. Regulators are meeting this
Read moreLondon close: Financials lead the way
9th Aug 2010 17:05
Leading equities trod water for the afternoon session consolidating strong gains made in the morning. Hopes that the US Federal Reserve will introduce new economic stimulus measures this week played well with the financial sector, with the likes of fund managers Schroders and St. James's Place and
Read moreLondon afternoon: Gains consolidated
9th Aug 2010 14:18
Footsie hit its peak at around 10:00am and has been moving sideways ever since on a relatively quiet day for corporate news. In a buoyant insurance sector Prudential is firmer prior to Thursday's results while Aviva is lifted by Panmure Gordon raising its price target from 496p to 535p. Reboundi
Read moreBroker tips: Aviva, Lloyds Banking, ITV
9th Aug 2010 12:49
Panmure Gordon is upgrading its earnings forecasts for Aviva after much better than expected interim results from the insurance giant last week. "On a market consistent embedded value (MCEV) operating profit basis we have increased 2010 forecast to £3,886m (+12%) from £3312m (-5%) driven by improve
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