London midday: FTSE 100 little changed
15th Feb 2011 12:09
Shares are still seeking direction in spite of some notable movements in both directions. Barclays has moved ahead after results. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010
Read moreLondon open: Footsie marks time
15th Feb 2011 08:57
A limp performance in the US overnight and a tricky session in Asia this morning has resulted in London trading sideways in early dealings. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profi
Read moreLondon pre-open: Footsie to pull back
15th Feb 2011 07:39
A limp performance in the US overnight and a tricky session in Asia this morning mean London is likely to slip back about a dozen points in early trade Tuesday. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except
Read moreBritish Land outperforms benchmark
15th Feb 2011 07:05
Real estate investment trust British Land saw a solid increase in underlying pre-tax profit and net asset value (NAV) per share in its third quarter. Underlying profit before tax in the three months to 31 December 2010 was up 10% from a year earlier at £64m. Broker Panmure Gordon had forecast a fig
Read moreTuesday preview: Barclays, InterContinental Hotels, inflation
14th Feb 2011 16:48
Results from Barclays on Tuesday are as likely to feature on the front pages as they are on the City pages. Market consensus is for profit before tax for 2010 of £5.54bn, up from 2009's £4.59bn. Revenue is slated to rise to £30.25bn from £29.95bn in 2009. "The key trends in the third quarter resu
Read moreSunday newspaper round-up: Bank bonuses, BP, Pfizer...
6th Feb 2011 11:02
Britain's biggest banks are poised to pay out a combined £6bn in bonuses despite government demands for restraint on City pay. The size of the payout will embarrass George Osborne, the chancellor, who is hoping to announce a peace deal with the City this week that will include targets for lending t
Read moreBroker tips: Sage, William Hill, Land Securities
19th Jan 2011 11:51
Financial services firm Matrix says that property giant Land Securities looks the best value of the three large cap London/retail plays at present and places the stock in its 'add' category. The property group highlighted steady progress with lettings in its interim management statement on Wednesda
Read moreENRC chairman sells 25% of his stake
13th Jan 2011 17:30
Johannes Sittard, chairman and non-executive director of Kazakhstan-based mining giant Eurasian Natural Resources Corp (ENRC), has sold a quarter of his stake in the company to raise £1.68m. He offloaded 150,000 ordinary shares at 1,120p each, which leaves him 450,000 ordinary shares, equal to 0.03
Read moreLondon close: Strong gains for FTSE 100
11th Jan 2011 16:51
Share prices edged back from earlier highs ahead of the close, but still finished with good gains as fears over European sovereign debt contagion recede in the wake of a show of support for eurozone bond issues from Japan. It has been a good day for banks, with Societe Generale issuing a bullish no
Read moreLondon afternoon: Good day for bankers
11th Jan 2011 14:11
Share prices levelled out over the lunch time session, but investors remain in good heart as fears over European sovereign debt contagion recede in the wake of a show of support for eurozone bond issues from Japan. It has been a good day for banks, with Societe Generale issuing a bullish note on th
Read moreLondon midday: FTSE 100 adds more gains
11th Jan 2011 12:07
The top share index is now well clear of the 6,000 point mark after building on earlier gains. Banks move higher after the government back-tracked on the question of bonuses. As a trade-off for no additional taxes on the expected £7bn of UK bonuses this year, the banks are in talks to raise their b
Read moreLondon open: Footsie back above 6,000
11th Jan 2011 08:50
UK blue chips have raced away this morning led by the banks as the government caved in on the issue of bonuses. As a trade-off for no additional taxes on the expected £7bn of UK bonuses this year, the banks are in talks to raise their business lending by 10%, or £20bn, to £200bn. Shares in Barclays
Read moreLondon pre-open: Heading higher
11th Jan 2011 07:39
UK blue chips are set for a strong start Tuesday despite weakness in the US overnight and a mixed performance in Asia. Futures prices indicate a gain of more than 30 points for the FTSE 100, taking the leading index back towards 6,000. Marks and Spencer saw group sales rise 4% in the final quarter
Read moreBritish Land buys Marble Arch House
11th Jan 2011 07:21
Property giant British Land is to purchase Marble Arch House in London's West End. The company is paying the present owners, The Portman Estate, £18m for the development site, which currently consists of two mixed use five story buildings on the corner of Seymour Street and the Edgware Road. The n
Read moreBritish Land buys Plymouth shopping centre
6th Jan 2011 07:24
Property giant British Land has acquired a shopping centre located in the centre of Plymouth. The company is payng £240m for Drake Centre, a 425,000 square foot shopping centre which has an annual footfall of just under 19m people. The purchase price represents a net initial yield of 6.0% with sig
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