London afternoon: Footsie still seeking direction
8th Mar 2010 14:56
Footsie continues sitting around the 5,600 point mark as shares pause for breath following last week's good gains. Oil fabrications giant Petrofac is today's major bright spot after it made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend by an impressive 41%
Read moreBroker tips: Astra, Intertek, Petrofac
8th Mar 2010 13:08
'Buy on weakness' is the recommendation of Panmure Gordon which remains a fan of AstraZeneca even after the company announced a disappointing trial result for its lung cancer treatment Recentin. 'We expect the stock to come under pressure but we advocate buying on weakness as the mid-term guidance
Read moreBroker snap: Failure priced in at Astra
8th Mar 2010 13:05
'Buy on weakness' is the recommendation of Panmure Gordon which remains a fan of AstraZeneca even after the company announced a disappointing trial result for its lung cancer treatment Recentin. 'We expect the stock to come under pressure but we advocate buying on weakness as the mid-term guidance
Read moreLondon midday:Stuck in neutral
8th Mar 2010 12:21
The market trod water throughout the morning session in the absence of any economic data or corporate news to set the pulses raising. Oil fabrications giant Petrofac is today's major bright spot after it made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend b
Read moreAstraZeneca suffers cancer treatment set-back
8th Mar 2010 07:05
Drug giant AstraZeneca said its metastatic colorectal cancer treatment Recentin failed to meet the primary endpoint in a clinical study to compare it with rival treatment Avastin. 'While we recognised that challenging Avastin would be a high hurdle, it is still disappointing, despite evidence of cl
Read moreLondon afternoon: Stocks drift lower
23rd Feb 2010 15:16
A weak opening on Wall Street has dragged Footsie lower, though the number of fallers among the blue-chip index's constituents barely outnumbers the risers. Wolseley is leading the risers, after surprising the market with an unscheduled trading update. The building supplies group said it expects p
Read moreLondon midday: Leading shares mixed
23rd Feb 2010 12:13
For the second day in succession the FTSE 100 has turned lower after a moderately bright start. Comments on the fragility of the UK economy from Bank of England governor Mervyn King have given investors pause for thought. King, appearing before a parliamentary committee, said: 'There have been some
Read moreAstra raises guidance after settling tax row
23rd Feb 2010 10:49
Drugs giant AstraZeneca has upped its 2010 earnings forecast after settling a long running dispute with the UK tax authorities. Under the agreement, AstraZeneca will pay £505m to resolve all claims by HM Revenue & Customs (HMRC) relating to transfer pricing over a 15 year period to the end of 2010.
Read moreBroker tips: Income stocks, AB Foods, Reed Elsevier
22nd Feb 2010 13:11
Barclays Capital is advising its clients to buy 'high quality dividend stocks' as dividend yields trade close to historical highs relative to bond yields. Barclays Capital (BarCap) has identified 20 European high quality dividend stocks, a list that includes UK stocks Cable & Wireless, RSA, BP, Ast
Read moreBroker snap: Divi stocks back in vogue
22nd Feb 2010 13:06
Barclays Capital is advising its clients to buy 'high quality dividend stocks' as dividend yields trade close to historical highs relative to bond yields. 'After the 60% rally since March 2009 led by financials and cyclicals, we have seen a reversal in style in the market over the last four weeks.
Read moreTechMARK movers: Positive Autonomy
3rd Feb 2010 15:27
Data search software provider Autonomy Corporation reversed early share price declines and is now higher following its 2009 figures. Autonomy had already given the market a clear steer on the numbers so there were no surprises. Revenues for the twelve months ended 31 December totalled $739.7m, up
Read moreLondon afternoon: Footsie falls as miners switch sides
3rd Feb 2010 14:32
Mining stocks headed south over the lunch time session, taking the blue-chip index with them. Antofagasta is the worst performer in the mining sector. The copper miner produced 442,500 tonnes of the red metal in 2009, ahead of its original forecast of 433,000 tonnes but lower than the 477,700 tonne
Read moreSector movers: Confident Standard Life lifts insurance
3rd Feb 2010 13:52
Standard Life has given the life insurance sector a lift. The life assurance firm is looking to kick on in many areas of its business as the economic environment gradually improves. The company sees opportunities for growth in the UK in the SIPP (self-invested pension plans), Wrap and group pension
Read moreLondon midday: Merrills takes a shine to banks
3rd Feb 2010 12:08
Footsie ended the morning at an intra-day high, driven by a strong performance from financial stocks and miners. Standard Life is the top riser after it announced a 'significant increase' in flows and sales in the fourth quarter. Life and pensions net inflows more than tripled to £1.3bn from £0.4bn
Read moreLondon open: Quiet start despite Wall St rally
3rd Feb 2010 08:50
Hopes of a strong start have been dashed with Footsie limping along at present even though Wall Street posted its second triple-digit gain in two gains overnight. Data search software Autonomy reported fourth quarter and full year figures that were in line with expectations and gave a confident out
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