London close: Footsie thunders ahead
11th Oct 2012 16:54
Better than expected US jobless figures gave a little early afternoon boost to a London market already going along nicely, as investors shrugged off a downgrade of Spain's credit rating by S&P, leaving the Iberian nation's debt status barely above a junk rating. Initial weekly unemployment claims d
Read moreBAE Systems: Analyst comments
11th Oct 2012 13:54
Following its failed merger with EADS, we've assembled the views of some leading analysts on the prospects for BAE Systems. Charles Armitage at UBS - BUY: target price 360p(unchanged). We are not convinced that the failure of this merger will automatically drive BAE Systems into the arms of anothe
Read moreLondon midday: Bumi booming on back of buy-out proposal
11th Oct 2012 11:51
London enjoyed a solid morning sparked by a return to favour of stock market darling Burberry, the luxury fashion chain. Burberry, which issued a profit warning last month, confirmed like-for-like (LFL) sales growth in its stores slowed dramatically in the July-September quarter, but the good news
Read moreLondon open: Burberry back in fashion
11th Oct 2012 08:51
London has, for once, decided not to dance to Wall Street's tune and has opened little changed, despite the shake-out yesterday stateside. Another credit ratings downgrade for troubled economy Spain has also been shrugged off. In company news, Burberry, the luxury fashion chain which issued a profi
Read moreBAE expects modest growth in underlying earnings - UPDATE
11th Oct 2012 07:11
Hot on the heels of its failed merger with Airbus owner EADS, defence firm BAE Systems has confirmed that trading since its interim results at the beginning of August has been in line with management expectations. The interim management statement for the period July 1st-October 10th contains plenty
Read moreThursday newspaper round-up: Direct Line, Spain, BAE
11th Oct 2012 06:59
Retail shareholders are to invest a greater sum in Direct Line's initial public offering than any other UK flotation in at least the past five years after about 25,000 individual investors applied to take part. Private investors are set to account for about 15 per cent of shares offered in Royal Ban
Read moreLondon close: Global slowdown concerns weigh on stocks
10th Oct 2012 17:00
London's FTSE 100 index registered its third consecutive day in negative territory as uncertainty surrounding the outlook for the global economy continued to weigh on investor sentiment. "Financial markets struggled to find direction today, drifting into the red as persistent fears over slowing glo
Read moreGermany blamed for BAE merger collapse
10th Oct 2012 16:00
Defence giant BAE Systems has officially announced the merger between it and aerospace firm EADS is off. The finger of blame for the failed £28bn deal is now being pointed at Germany, despite neither EADS or BAE seeming to know why the country opposed the merger. "Discussions with the relevant gov
Read moreFTSE 100 movers: Banks top risers after FSA decision
10th Oct 2012 15:22
Banking peers Lloyds and RBS were leading the risers today after the Financial Times reported that the FSA has eased capital and liquidity rules in an attempt to boost lending. Meanwhile, according to reports this morning, RBS has agreed to sell two buildings in Frankfurt and Berlin to Axa Investm
Read moreBAE says EADS merger terminated
10th Oct 2012 13:15
Defence giant BAE Systems has officially announced the merger between it and aerospace firm EADS is off. "Discussions with the relevant governments had not reached a point where both companies could fully disclose the benefits and detailed business case for this merger," the firm said. But the com
Read moreLondon midday: Banking stocks gain, yet Footsie falls
10th Oct 2012 11:32
- IMF warns about Eurozone crisis - Unions call for strikes in Greece - Banks gain on speculation of eased capital rules UK stocks suffered more losses on Wednesday in spite of some relative strength in the banking sector, as the International Monetary Fund (IMF) warned about the risks emanating f
Read moreWednesday newspaper round-up: BP, Bank capital, Direct Line
10th Oct 2012 06:30
Angela Merkel, the German chancellor, has stamped her seal of approval on Greece's austerity plan and vowed to stand by the country as "partner and friend", signalling almost certain approval for the next tranche of EU-IMF Troika aid. The German leader - protected by 6,000 police - braved hostile cr
Read moreLondon close: Growth concerns sink stocks for second straight day
9th Oct 2012 16:35
- Miners gain, but Footsie finishes firmly lower - IMF cuts forecasts; investors nervous ahead of Alcoa - UK economic data paints gloomy picture - Crude rises on Mid-East tensions With the International Monetary Fund (IMF) cutting its growth forecasts and Wall Street starting on the back foot ahead
Read moreFTSE 100 movers: Miners lead the way
9th Oct 2012 15:22
Mining stocks were performing well despite the gloomy growth figures from the IMF. Vedanta was in the top spot despite seeing production and sales of iron ore from Goa fall in the second quarter as the government's ban on mining activities in the state starts to bite. Retail giant Marks & Spencer
Read moreLondon midday: Footsie slides as IMF spreads the gloom
9th Oct 2012 11:37
- IMF cuts global growth forecasts for 2012 and 2013 - UK economic data comes in mixed - Footsie still down despite mining strength The FTSE 100 remained firmly in the red during the morning session Tuesday after the International Monetary Fund (IMF) cast a cloud of gloom over the markets after dow
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