London close: Footsie suffers hiccup
4th Mar 2010 16:40
The blue chip index failed to stretch its winning streak to a fifth session, falling for the first time this week on negative results reaction and downbeat miners. It held above 5,500 all day despite coming close just after trade began and towards the end of play. Engineering and project managemen
Read moreFTSE 100 movers: Results dominate index
4th Mar 2010 16:05
A mixed bag of results dominate the main movers in the Footsie. The bright spot was fund manager Schroders. Net new business inflows jumped to £15bn in 2009 compared with net outflows of £9.6bn in 2008, while funds under management ended the year at £148.4bn versus £110.2bn a year earlier. Total p
Read moreLondon afternoon: Stocks are becalmed
4th Mar 2010 14:13
It's been an up and down day for the blue-chip index although the Footsie has rarely strayed far from its overnight level. As expected, the Bank of England has held interest rates at 0.5% and taken no further action on quantitative easing (QE) amid conflicting signals over the state of the UK econo
Read moreLondon midday: Footsie drifting sideways
4th Mar 2010 12:13
Footsie is trading sideways after the Bank of England decided on no change to its stance on interest rates and quantitative easing. UK interest rates stay at 0.5% and the QE programme at £200bn. On the company front, results are dominating. Engineering and project management firm Amec is worst of t
Read moreBroker snap: Aviva preferred to Pru
4th Mar 2010 11:45
Panmure Gordon recommends that Prudential shareholders unnerved by the Pru's blockbuster deal to acquire AIG's Asian assets should switch into Aviva. The broker said Aviva's 2009 results were well ahead of consensus and above the top end of the range for Market Consistent Embedded Value (MCEV) and
Read moreLondon open: Footsie struggles early on
4th Mar 2010 08:30
A four-day winning streak could end Thursday after a poor start following last night's late sell-off on Wall Street, weaker miners and some disappointing company results. Engineering and project management firm Amec is worst of the blue chips as investors react badly to a 3% slip in revenues, or 12
Read moreLondon pre-open: Wall Street casts a shadow
4th Mar 2010 07:40
After the late sell off in New York yesterday London shares look set to open lower, with the FTSE 100 tipped to threaten a move back below 5500 after closing at 5533 last night. Corporate news flow from the big names is mostly good, however. Leisure group Whitbread has issued another upbeat tradin
Read moreAviva's book value miss cancels profit win
4th Mar 2010 07:01
Insurer Aviva beat profit expectations in 2009, but the share price is under pressure Thursday as analysts focus on a weaker than expected book value. Operating profit on an IFRS basis fell 12% to £2.02bn in the year ended 31 December 2009 from £2.30bn in 2008, but rose 3% to £3.48bn on a market co
Read moreThursday preview: Aviva, Whitbread, BoE rate decision
3rd Mar 2010 15:26
The blockbuster bid by Prudential for the Asian assets of fallen US insurance giant AIG has given insurance companies the sort of press coverage normally reserved for banks and has thrown down a challenge to the Pru's UK rival, Aviva, which declares full year figures on Thursday. Panmure Gordon is
Read moreLondon close: Strong finish for FTSE 100
1st Mar 2010 16:30
The leading share index finished on a strong footing as strength in the mining sector and gains on the back of company updates helped offset a weak performance from financial stocks. Miners were in demand following a rise in copper prices following the earthquake in Chile, the world's number one p
Read moreFTSE movers: Pru falls on fundraising worries
1st Mar 2010 15:15
Prudential dominates the Footsie today with a sharp share price fall but the overall index is still higher on the day. Prudential may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG, which would make it the biggest insurer in Asia. This has unsettled investors. Any deal would
Read moreSector movers: Miners on the march
1st Mar 2010 14:55
Miners are in demand following a rise in copper prices after the earthquake in Chile, the world's number one producer of the red metal. The earthquake shut down up to a fifth of the South American country's copper mining operations, but mines have already resumed operations. Kazakhmys, Fresnillo,
Read moreLondon afternoon: Copper-bottomed advance
1st Mar 2010 14:15
Gains on mining stocks are more than offsetting losses in an insurance sector that has been rocked by the prospect of a huge rights call from Prudential. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG has unsettled the insurers. Any deal would need to
Read moreBroker tips: Lloyds Banking, Aviva, Michael Page
1st Mar 2010 13:18
Nomura Securities remains negative on Lloyds Banking despite regarding the recent results from the lender as 'incrementally positive'. The broker thinks the short-term negative reaction to the results could yet flip-flop, but longer term it remains 'negative towards Lloyds owing to asset quality, f
Read moreBroker snap: Aviva is Panmure's top pick
1st Mar 2010 12:04
Aviva, the world's fifth largest insurer, isn't expected to reveal any surprises when 2009 results are published Thursday, says Panmure Gordon. It's looking for a 7% drop in market consistent embedded value (MCEV) operating profit to £3.11bn, in the middle of the £2.94bn-£3.29bn range of forecasts.
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