FTSE 100 movers: BSkyB hit by downgrade
14th Jun 2012 14:51
British Sky Broadcasting (BSkyB), which more or less built its business in the UK on live football, is paying the FA £2.3bn to broadcast live 116 matches over a three year period, starting from the 2013-14 season. The shares are sharply lower, with Numis Securities reacting to the cost of the deal b
Read moreBSkyB and BT fall after Premier League deal
14th Jun 2012 12:19
Shares in BSkyB and BT Group have fallen after the firms announced they were paying over three billion pounds between them for the rights to show Premier League games next season. Investors gave the deal the thumbs down with BSkyB shares falling 7% and BT Group dropped 3%. The Football Association
Read moreLondon midday: Markets calm as Italian yields rise
14th Jun 2012 11:50
Markets have reacted positively in the main to the outcome of the Italian bond auction on Thursday morning, which saw yields rise fairly steeply. Italy issued a total of €4.5bn of debt in three, seven, and eight-year bonds. It matched its issuance target but had to pay higher yields than on the pr
Read moreFA the winner in bumper rights deal
14th Jun 2012 09:27
The Football Association has secured a record deal for the rights to Premier League games, with BSkyB and BT paying seventy per cent more than the current package. BSkyB and BT have the rights to broadcast Premier League football for three years from the start of the 2013/2014 season, paying a comb
Read moreLondon open: Sweet FA deal batters Sky and BT
14th Jun 2012 08:45
You would have thought that the market had become used to sovereign debt downgrades by now, but the decision by Moody's to take Spain's rating down three notches to a level adjacent to 'junk' status has ratcheted up tension ahead of Italy's debt auction this morning. Italy is set to auction €4.75bn
Read moreFriday broker round-up
8th Jun 2012 08:11
AVEVA: Merchant Securities maintains buy rating and 1,850p target. Berendsen: HSBC upgrades to overweight, target cut from 575p to 550p. BP: Credit Suisse maintains outperform recommendation and 540p target. BT Group: Nomura cuts target from 295p to 285p, buy rating unchanged. International Cons
Read moreLondon close: Poor data sinks stocks, fuels QE3 speculation
1st Jun 2012 16:26
- Global stocks hit year-to-date low - US, UK, Chinese and Eurozone data disappoints - Gold soars on QE3 speculation after weak data Disappointing employment and manufacturing data from across the world sank global stock markets on Friday, meaning that May's heavy losses for equities were extended.
Read moreFTSE 100 movers: BP a high riser on TNK-BP sale plans
1st Jun 2012 13:16
BP surged early on after revealing that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of Russian investors, as speculation has run rampant in recent days of a breakdown in the relationship between the British oil firm and its partners. Jefferies this morning estimated
Read moreLondon midday: Manufacturing figures pressure markets lower
1st Jun 2012 11:31
- Manufacturing PMIs in UK, Eurozone, China fall - Eyes on US payrolls - BP jumps on TNK-BP sale After a bright start early on, London's blue chip index had dropped into the red by Friday lunchtime after a barrage of disappointing manufacturing data dampened market sentiment. Manufacturing purchas
Read moreLondon open: Stocks rise despite Chinese data
1st Jun 2012 08:25
- Chinese PMI dissapoints - Ireland begins counting votes on fiscal treaty referendum - BP jumps after proposed sale of interest in TNK-BP London's Footsie index bucked the trend seen across European markets to trade firmly higher on Friday morning, ahead of some crucial payrolls data Stateside du
Read moreLondon pre-open: FTSE to rise on Greek polls
1st Jun 2012 07:31
City sources predict the FTSE 100 will open up 26 points from yesterday's close of 5,296, boosted by news that the most recent opinion polls in Greece show that pro-bailout parties are in the lead. BP has revealed that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of
Read moreBT offloads French IT division
1st Jun 2012 07:22
Telecoms giant BT Group has sold its application development services business in France to the Paris-listed IT services company, Osiatis. The division employs around 100 employees, 80% of which are engineers and experts in Java J2EE and Microsoft.Net development, according to Osiatis. In a brief
Read moreThursday broker round-up
31st May 2012 09:26
Aviva: Nomura cuts target from 600p to 540p, buy rating unchanged. Babcock: Panmure Gordon downgrades from buy to hold, target left at 940p. BG Group: Jefferies reiterates buy stance and 2,000p target. BHP Billiton: Credit Suisse maintains outperform rating and 2,460p target. BT Group: Nomura ke
Read moreSector movers: Burberry hit by China growth downgrade
18th May 2012 15:45
Fashion chain Burberry is dragging the Personal Goods sector down, ahead of its results next week. The firm, which counts China as one of its major export markets, always seems to take a hit when there is bad news about the economy of the People's Republic, and the catalyst this time is the downgra
Read moreLondon close: Stocks slip as Greece heads for new elections
15th May 2012 16:30
- Greece fails to form coalition - Eurozone GDP unchanged in first quarter - IAG falls after downgrade, miners track metals prices lower London's blue chip index fell sharply for a second straight day on Tuesday as it was revealed that Greek leaders failed to form a coalition, meaning that the coun
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