Sunday newspaper round-up: BAE Systems, Aviva, Lloyds Banking
4th Oct 2009 10:09
Directors of BAE Systems rejected a £300m settlement of a Serious Fraud Office investigation after receiving advice they would leave themselves open to civil lawsuits for a misuse of shareholders' funds. The offer, made by the SFO in recent weeks, came after lengthy talks over a plea bargain deal t
Read moreFriday tips round-up: BAE Systems, Domino's Pizza, ICAP
2nd Oct 2009 06:50
The Serious Fraud Office's move to press charges against BAE Systems over alleged bribery is certainly discomforting for the company. It is, however, questionable what lasting impact it will have on the shares. The investment case for BAE remains sound. The shares are yielding 4.5% and trading on a
Read moreFriday newspaper round-up: Anglo American/Xstrata, BAE Systems, Royal Bank of Scotland
2nd Oct 2009 06:19
Anglo American, the mining giant, has applied to the Takeover Panel for a "put up or shut up" order that could block an Xstrata bid for at least six months, The Times has learnt. Sir John Parker, the chairman of Anglo, is understood to have decided that the nil-premium merger proposal made by Xstra
Read moreLondon close: Footsie slides with Wall Street
1st Oct 2009 16:28
Footsie closed sharply lower after the US reacted badly to worse than expected dole claims. The Dow is now down more than 100 points with investors nervous ahead of the big monthly non-farm payrolls figure tomorrow. BAE struggled after the Serious Fraud Office asked the Attorney General if it can p
Read moreLondon afternoon: Blue chips drifting along
1st Oct 2009 14:05
Footsie has recovered a little ahead of the US open, but the index is still in the red with weapons group BAE Systems especially under the cosh. Early indications are for the Dow to drop between 15-18 points, with intital jobless claims a bit higher than expected. The big jobs figure comes tomorro
Read moreSector movers: Surging Datong leads electronics higher
1st Oct 2009 12:19
Datong, which provides systems to help government agencies gather information on terrorism and organised crime, is leading the electronic and electrical equipment sector higher after saying it has performed well despite tough economic conditions. Elsewhere in the world of national security, BAE Sys
Read moreLondon midday: Footsie slips after record quarter
1st Oct 2009 12:08
Footsie has paused for breath after its record-breaking quarter with weapons group BAE Systems especially under the cosh. The Serious Fraud Office has asked the Attorney General if it can prosecute the defence contractor over alleged bribery in a number of countries. The SFO is deciding if it shou
Read moreLondon open: Healthy start to Q4
1st Oct 2009 08:40
London set off higher Thursday as buyers snapped up miners and Legal & General (L&G) continued to attract speculative interest. Persistent talk that Resolution is circling L&G had the insurer higher again in early deals, while yesterday's upgrade by Deutsche Bank helped. The broker also thinks Av
Read moreBAE faces court on bribery charge
1st Oct 2009 08:02
BAE Systems could end up in court after the Serious Fraud Office (SFO) confirmed it is seeking the Attorney General's consent to prosecute the defence contractor over allegations of bribery. The SFO is to ask Baroness Scotland if it can charge the UK blue chip with 'offences relating to overseas c
Read moreLondon open: Footsie starts down
24th Sep 2009 08:15
London's top stocks are posting losses in early dealings on Thursday, tracking declines in the US and Asia after downbeat comments by the Federal Reserve about the US economy. The Fed said the US economy is improving but consumer spending has remained under pressure due to the tough jobs market and
Read moreLondon pre-open: Fed comments cast a shadow
24th Sep 2009 07:38
Downbeat comments by the Federal Reserve about the US economy are having an effect on this side of the pond, with traders in no mood to chase prices higher. The Fed said the US economy is improving but consumer spending has remained under pressure due to the tough jobs market and tight credit condi
Read moreUpdate: VT exits shipbuilding business
24th Sep 2009 07:14
Defence firm BAE Systems is to take full control of BVT Surface Fleet Limited, its joint venture with support services company VT Group. VT has exercised its option to sell its 45% holding in the company to BAE Systems for around £346m in cash. Coincident with the sale, VT Group will pump £43m of
Read moreLondon close: Footsie clings on to gains
8th Sep 2009 17:01
Leading London shares closed mixed, with strong gains on resource stocks counter-balanced by losses on life assurance stocks. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources led the mining sector higher, as metal prices improved. Gold miners Fresnillo and Randgold Resources were
Read moreTechMARK movers: BAE slightly lower
8th Sep 2009 14:25
Aerospace and defence group BAE was slightly lower after it made a complaint to the US Government Accountability Office (GAO) asking it to review a US Army decision to award a vehicle contract to one of its competitors. BAE had been hoping the Army would use BAE's Family of Medium Tactical Vehicle
Read moreLondon afternoon: Holiday stocks take flight
8th Sep 2009 13:56
After opening brightly London's leading shares have been treading water since the middle of the morning. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources lead the mining sector higher, as metal prices improve. Gold miner Randgold Resources is wanted after the price of gold bullio
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