London midday: London on a Sky high
29th Apr 2010 12:14
Traders are too busy digesting a full schedule of corporate announcements to worry about sovereign debt issues, as the Footsie makes another attempt at clawing back some of the heavy losses sustained on Monday. Pay TV and Internet service provider British Sky Broadcasting (BSkyB) is the top perform
Read moreAstraZeneca ups guidance as profits soar
29th Apr 2010 11:01
AstraZeneca has upped its profit target for the full year after strong growth from key drugs and emerging markets helped the drug giant post a sharp rise in earnings in the first quarter. Pre-tax profits climbed to $3.5bn from $3bn over the same quarter the previous year on the back of revenues tha
Read moreThursday preview: Astra, BG, Unilever
28th Apr 2010 18:27
Barring another sovereign debt ratings downgrade from Standard & Poor's on Thursday the headlines are likely to be hogged by results from AstraZeneca, BG Group, British Sky Broadcasting, Shire, Unilever and Whitbread. First quarter results from Anglo-Swedish drugs giant Astra will be out at 11:00
Read moreAstraZeneca pays $520m Seroquel fine
28th Apr 2010 07:53
AstraZeneca has agreed to pay a $520m fine to settle allegations that it illegally marketed its schizophrenia drug Seroquel for unapproved uses. The drug giant denies the charges, but will pay the penalty, agreed in principle last October and taken as a reserve in 2009. It has also entered into a
Read moreLondon close: Footsie slumps on eventful day
27th Apr 2010 16:31
Footsie was deep in the red at trading's close after credit rating downgrades for Greece and Portugal added to already substantial losses, with miners among the stocks posting heavy falls. With oil and metals prices in retreat as fears grow about potential delays in financial aid reaching Greece re
Read moreLondon afternoon: Reckitt fails to cut the mustard
27th Apr 2010 14:35
Footsie drifted lower over the lunch time session, not helped by disappointing results from household goods maker Reckitt Benckiser. Shares in Reckitt sank to the bottom of the FTSE 100 despite the French's mustard maker posting a rise in earnings and sales for the first quarter. The firm said oper
Read moreLondon midday: Footsie slides below 5700
27th Apr 2010 12:04
Footsie has given up all of yesterday's gains and more and has dipped below the 5700 level. Barely a dozen of the blue-chip index's constituents are in the blue, with miners featuring prominently among the laggards. Vedanta, Rio Tinto, Kazakhmys and Xstrata are the worst performers in the mining s
Read moreLondon open: Miners pull Footsie down
27th Apr 2010 08:39
London's top stocks have opened lower on a weak start for the mining sector and despite some encouraging numbers from three index heavyweights. Miners are the problem, with falls across the sector led by Rio Tinto, Kazakhmys and Xstrata. Prudential is a strong performer on a report in the Times tha
Read moreLondon pre-open: Small drop ahead
27th Apr 2010 07:37
London's top stocks are expected to open around 15 points lower as investors consider a bunch of corporate results. Lloyds Banking returned to profitability in the first quarter and said it expects this momentum to be sustained throughout the rest of the year. The lender, 41% owned by the taxpayer,
Read moreAstraZeneca gets EU nod for Crestor
27th Apr 2010 07:28
Drugs giant AstraZeneca has received more good news on its cholesterol-lowering drug Crestor after the European Union cleared its use in nineteen European countries for patients at risk of a first heart attack. The clearance follows a significant reduction in the combined endpoint of heart attacks,
Read moreWeek Ahead: BP, Shell, Glaxo
23rd Apr 2010 11:46
After a lull lasting a couple of weeks next week sees a heavily populated agenda of company results, with energy and pharmaceuticals companies dominating. Among the oil companies due to announce next week BP is first out of the traps on Tuesday with first quarter figures. Net income is forecast to
Read moreSector movers: Elektron power electronics gains
6th Apr 2010 14:32
Elektron is among the stocks boosting the electronic and electrical equipment sector. The components group today announced Keith Daley has been appointed executive chairman. Daley has been non-executive chairman and temporary chief executive officer since the resignation of the previous CEO in 200
Read moreSector movers: Songbird weighs on real estate
26th Mar 2010 14:00
The real estate sector is higher despite weakness in the share price of Songbird Estates. Docklands office complex Canary Wharf's value increased in the second half of 2009, owner Songbird Estates said today, as it recovered from the collapse of Lehman Brothers, a key tenant. Songbird, which had t
Read moreSector movers: Commodity stocks slip back
22nd Mar 2010 14:50
Oil and gas stocks and industrial metals and miners are lower as commodity prices slip. The oil price fell for a third day in a row after India unexpectedly raised interest rates by a quarter of one percentage point to 3.5%, stoking fears that the global recovery will falter. Copper prices were lo
Read moreLondon close: Miners pull index lower
11th Mar 2010 17:02
London bounced off 5,600 despite a weak start on Wall Street but still closed in the red on a poor day for miners. Falling commodity prices and China inflation concerns prompted profit taking in Fresnillo, Randgold, Rio Tinto, ENRC, Kazakhmys, BHP Billiton and Xstrata. Speculation rose that Chin
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