Broker snap: Heart drug approval to comfort Astra, Citi says
21st Jul 2011 16:37
Citi maintained its buy recommendation on drugmaker AstraZeneca and said that regulatory approval for its heart drug in the US will provide "some comfort on the longer-term outlook for the business, especially beyond 2014," given the disappointment over the future of its diabetes drug. On Wednesday
Read moreFTSE 100 movers: Financials soar on Eurozone hopes
21st Jul 2011 15:02
Financials were leading the recovery on Thursday afternoon following a fall earlier in the day, on hopes of a solution to the sovereign debt crisis in Europe. European leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. Among the proposals are a reduct
Read moreLondon midday: Stocks give up gains ahead of summit
21st Jul 2011 12:03
This morning's bright start seems a distance memory, with stocks are deep in the red ahead of the EU summit on the sovereign debt crisis. Latest reports say Germany and France intend to let Greece default temporarily as part of a programme of buying back bonds. They have also ruled out bank levies.
Read moreLondon open: Stocks give up gains
21st Jul 2011 08:39
Stocks are moving in both directions today, but bears have the edge now with the top share index a few points lower, giving up earlier gains. In the FTSE 100, Kingfisher, the FTSE 100 DIY retailer, is flying high even after it saw sales down 0.5% in the second quarter of 2011 compared to the same p
Read moreLondon pre-open: Steady start in store
21st Jul 2011 07:42
The top-share index is expected to nudge up a couple of points or so at the outset after yesterday's mixed performance on Wall Street. With a busy day in store for company announcements, however, there are likely to be lots of special situations for investors to mull over. Half-year turnover and p
Read moreAstraZeneca heartened by US Brilinta approval
21st Jul 2011 07:07
AstraZeneca, the Anglo-Swedish pharmaceuticals company, has won approval for its drug Brilinta in the United States. Brilinta reduces the rate of heart attack and cardiovascular death in adult patients with acute coronary syndrome (ACS) more effectively than its rival treatment Clopidogre, recent s
Read moreLondon close: Debt hopes boost markets
20th Jul 2011 16:39
Shares moved higher on both sides of the Atlantic amid hopes that European and US leaders are making progress towards agreeing solutions to debt problems. It was US corporate news that boosted today's star sector in London though. Chip companies ARM Holdings and Imagination Technologies sizzled aft
Read moreThursday preview: Kingfisher, Capita, Astra, retail sales
20th Jul 2011 15:18
Do-it-yourself retailer Kingfisher has become something of a two-speed company, with the UK operations holding back the French business; Thursday's trading update may reveal whether that is still the case. "We expect UK LFL [like-for-like] sales at B&Q to be down strongly in the second quarter, gi
Read moreSector movers: Apple's figures boost chip firms
20th Jul 2011 14:24
Stellar results from US tech giant Apple boosted the technology hardware and equipment sector on Wednesday. UK-listed chip companies ARM Holdings and Imagination Technologies were sizzling after Apple, which uses their technology in its gadgets, posted another record-breaking quarter, with revenue
Read moreFTSE 100 movers: Barclays leads banks higher
20th Jul 2011 14:05
The banks were leading the Footsie higher on Wednesday afternoon, with Barclays, RBS and Lloyds recouping some of the week's earlier losses. Barclays was the highest riser, gaining 4.54%, but still remains around 3% down over the last seven days. ARM Holdings was in demand with the chip company bo
Read moreCiti positive on AstraZeneca's heart drug approval
20th Jul 2011 13:29
Citi said AstraZeneca's blockbuster heart drug brilinta has a 60% to 70% chance of approval by the U.S. Food and Drug Administration but is contingent on post-marketing studies with a sufficient number of US patients to confirm the benefit with low-dose of aspirin. Citi analyst Mark Dainty expects
Read moreLondon midday: Chip stocks sizzle as Apple impresses
20th Jul 2011 12:16
Shares are posting strong gains today as the spotlight moves from Europe's debt woes to the US, where traders are optimistic lawmakers will reach agreement on cutting the world's biggest economy's deficit. Chip companies ARM Holdings and Imagination Technologies in particular are taking their lead
Read moreLondon open: Miners jump higher in early trading
20th Jul 2011 08:42
After a strong finish on Wall Street last night - with the Dow Jones having its best day of the year so far - the Footsie opened up nearly 0.5% higher. Mining giant BHP Billiton was a high riser after it was able to achieve another iron ore output record in the year ended 30 June, its eleventh cons
Read moreLondon pre-open: Wall Street tail-winds boost London
20th Jul 2011 07:37
After the Dow Jones had its best day of the year overnight investors are keen to get their wallets out this morning and dive into equities. City traders think the blue-chip index will open around 30 points higher and crash back through the 5,800 barrier. One stock unlikely to be joining the upsurg
Read moreFDA committee rejects dapagliflozin
20th Jul 2011 07:03
Drugs giants AstraZeneca and Bristol-Myers Squibb received a blow when the US Food and Drug Administration's (FDA) Advisory Committee rejected their jointly-developed diabetes drug, dapagliflozin, though the vote was a close one. The committee voted 6 "yes" and 9 "no" on the question of whether "do
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