London midday: FTSE flat
12th Nov 2009 12:05
It is back to square one for Footsie, which is virtually unchanged on the day despite a warm reception to results from BT and confirmation from British Airways that the long awaited merger with Iberia is close to consummation. British Airways has confirmed that it is holding meetings with Spanish a
Read moreSector movers: BT update lifts telecoms
12th Nov 2009 11:53
BT is boosting the telecoms sector after reporting second quarter revenue in line with expectations and thinks it can cut costs by at least £1.5bn this year versus its old target of over £1bn. The company also predicts the decline in full-year revenue before one-off items will be 3-4%, slightly les
Read moreLondon open: BT turns Footsie blue
12th Nov 2009 08:32
Shares are inching higher in early deals as investors welcome second quarter results from BT, offsetting losses among insurers following results from Friends Provident owner Resolution. Telecoms giant BT reported second quarter revenue was in line with expectations and thinks it can cut costs by at
Read moreLondon pre-open: Lower start expected
12th Nov 2009 07:38
Footsie is expected to slip back slightly in early dealings following good gains yesterday. Telecoms giant BT has reported second quarter revenue in line with expectations and thinks it will generate at least £1.6bn of free cash flow this year versus its old target of over £1bn. Revenue for the thr
Read moreBT hikes cost-cut target
12th Nov 2009 07:25
Telecoms giant BT has reported second quarter revenue in line with expectations and thinks it can cut costs by at least £1.5bn this year versus its old target of over £1bn. The company also predicts the decline in full-year revenue before one-off items will be 3-4%, slightly less than the 4-5% for
Read moreThursday newspaper round-up: Cadbury, British Airways, Lloyds
12th Nov 2009 06:03
Up to 14 per cent of Cadbury's share register is estimated by brokers to be controlled by hedge funds that are betting Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner, increasing the likelihood that its hostile bid will succeed. Brokers predict that towards the end of the bid bat
Read moreThursday preview: BT, Aveva
11th Nov 2009 17:45
Telecoms giant BT is expected to take a leaf our of the book of sector peer Vodafone and lift its cost savings target when it issues interim results on Thursday. BT chief executive Ian Livingston has pledged to deliver reductions in operating costs and capital expenditure of well over £1bn this yea
Read moreLondon close: US sparks late rally
5th Nov 2009 16:21
A smaller than expected increase to the Bank of England's quantitative easing programme and and early surge on Wall Street helped Footsie overcome early losses and close in the blue. The central bank voted to pump an additional £25bn into the economy, taking QE to £200bn. It also kept interest rate
Read moreLondon afternoon: Footsie climbs into blue
5th Nov 2009 14:13
A smaller than expected increase to the Bank of England's quantitative easing (QE) programme and stronger US futures have hauled London into the blue. The central bank voted to pump an additional £25bn into the economy, taking QE to £200bn. It also kept interest rates at 0.5%. "The fact that the M
Read moreLondon midday: BoE expands QE programme
5th Nov 2009 10:41
London's top stocks are trading quietly after their initial fall as investors mull the Bank of England's decision to extend its quantitative easing programme by a further £25bn to £200bn. Telecoms group Cable & Wireless has dropped after it revived plans to split itself in to two parts. The announc
Read moreSunday newspaper round-up: RBS, Lloyds, Cadbury
1st Nov 2009 14:40
Britain's banks face one of the most crucial weeks in their history with sell-off plans for Lloyds Banking Group and Royal Bank of Scotland assets to be finalised, just as the financial regulator begins scrutinising City bonuses. Alistair Darling is expected to say on Tuesday that Lloyds will not b
Read moreLondon close: Triple-digit losses for FTSE 100
28th Oct 2009 16:26
A poor performance from mining and financial stocks ensured that Footsie ended with triple-digit losses. Insurer Prudential, which saw a surge in US business but posted a fall in UK sales, was a heavy faller. The Pru lifted group-wide retail sales by 10% to £699m in the third quarter thanks largel
Read moreLondon afternoon: Stocks steady at lower levels
28th Oct 2009 14:10
Miners and financials remain a dead weight around Footsie's neck, but elsewhere, leading shares are slowly beginning to claw back losses. Prudential, which saw a surge in US business but posted a fall in UK sales, is still among the heaviest fallers. The Pru lifted group-wide retail sales by 10% to
Read moreBroker tips: BG, ARM, telecoms
28th Oct 2009 12:57
Third quarter earnings from gas and oil behemoth BG Group were slightly ahead of expectations, according to Charles Stanley, which has retained its 'accumulate' rating for the stock. 'Although Q3 [third quarter] production volumes were slower than expected at +5%, the final quarter is up 12% on Q4/
Read moreBroker snap: BarCap dials into telecoms
28th Oct 2009 12:36
Barclays Capital has initiated coverage of the European telecoms sector with generally positive views of three of the UK's big players. The broker has a price target of 169p for BT , where it sees a chance of rising dividends once the company's cost cutting programme starts delivering. 'We are mind
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