London midday: Shares still lower as Libya crisis continues
24th Feb 2011 12:11
Shares are stuck in the red as the oil price stays high amid ongoing turmoil in Libya. The north African country itself only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Saudi Arabia and Algeria. Brent crude jumped to $119.79
Read moreHigher house prices boost Barratt
24th Feb 2011 11:14
Housebuilder Barratt Developments benefitted from higher selling prices in the second half of 2010 and said 2011 has started well though the market remains fragile. Pre-tax losses in the half year to 31 December narrowed to £4.6m from £178.4m over the same period the previous year, as revenues edge
Read moreBroker snap: Housing market difficult, but stable in 2011
8th Feb 2011 13:04
With a recent housing market survey showing a sluggish start to the year, Panmure Gordon's opinion is that the outlook for UK residential housebuilders remains difficult, but broadly stable, and highlights two key recommendations in the sector. The Royal Institution of Chartered Surveyors (RICS) re
Read moreBroker tips: Thomas Cook, Burberry, housebuilders
8th Feb 2011 13:01
The political unrest in Egypt and Tunisia has not prompted Nomura to change its positive stance on travel firm Thomas Cook as summer bookings remain encouraging. Thomas Cook warned Tuesday that recent turmoil will knock £20m from its profits this quarter. "Looking ahead, the situation is fast movin
Read moreLondon close: Stocks fall as nervousness sets in
28th Jan 2011 16:51
Shares were nursing big losses by the end of the day as more gloomy economic figures stoked nervousness. Consumer stocks were under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis h
Read moreFTSE 250 movers: BTG and IG Group on the decline
28th Jan 2011 15:56
BTG is on of the heaviest fallers despite yesterday's announcement that the speciality pharmaceuticals developer expects its recurring revenues will grow by £5m following the Biocompatibles acquisition. IG Group is following suit after the its was reported yesterday that the spreadbet firm has one
Read moreLondon afternoon: Confidence blow for equities
28th Jan 2011 14:50
Leading shares are lower, with consumer stocks under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis have not helped sentiment. The GfK NOP Consumer Confidence Index dropped eight p
Read moreFriday tips round-up: BT, Balfour Beatty, Booker...
14th Jan 2011 06:44
BT bulls have had little to complain about recently as the stock has climbed 20% in two months and broken through the 190p barrier for the first time in two and a half years. The company is due a re-rating this year if the management team keeps ticking all the right boxes. A return to growth is sti
Read moreThursday tips round-up: Greggs, Vodafone, Moneysupermarket
13th Jan 2011 06:29
Britain's biggest bakery chain Greggs shrugged off the effects of the big freeze, reporting trading over Christmas that was stronger than expected, with a 3.5% rise in sales, or 0.6% on a like-for-like basis, over the five-week period. The current valuation of 11 times 2011's projected profits fairl
Read moreLondon afternoon: Miners and banks lead the advance
12th Jan 2011 14:35
Footsie is continuing to keep its head above water, not to mention 6,000, but it is largely thanks to the strength of miners and financial stocks, with the latter in demand after Portugal's bond auction proved relatively successful. HSBC is the best performing financial, helped by a "buy" recommend
Read moreBroker tips: Barratt Developments, Restaurant Group, NCC
12th Jan 2011 12:42
Financial services firm Matrix places Britain's largest housebuilder Barratt Developments in its 'add' category as the group reported trading in line and recovering margins. The broker notes that net asset value per share (209p estimated for 2011) remains a primary driver of value for the group, an
Read moreBroker snap: Improving margins at Barratt
12th Jan 2011 10:59
Financial services firm Matrix places Britain's largest housebuilder Barratt Developments in its 'add' category as the group reported trading in line and recovering margins. The broker notes that net asset value per share (209p estimated for 2011) remains a primary driver of value for the group, an
Read moreBarratt's prices rise, but growth 'limited'
12th Jan 2011 08:16
Barratt Developments sold its homes for 6% more during the first half as the number of houses sold made up a bigger share of the total, although volume growth for the year will be "limited". Britain's largest housebuilder said the average selling price (ASP) rose to £176,000 in the six months to 31
Read moreWednesday preview: Sainsbury, N. Brown, Barratt Devs.
11th Jan 2011 16:51
It has been hard to keep retailers out of the spotlight this week and Wednesday is no exception, with supermarket Tesco and home shopping specialist N. Brown due to give trading updates. Morrisons set the benchmark for the supermarket sector on Monday with a better than expected 1% growth in like f
Read moreLondon close: One-month high for Footsie
13th Dec 2010 16:33
More than £2bn of merger and acquisition activity got pulses racing in City dealing rooms, combining with strong miners and gains on Wall Street to send London to its highest in a month. Oilfield services group Wood Group is forking out $955m (£607m) for rival PSN, which it will merge with its prod
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