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 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 moreCentrica makes up for slump in gas output
12th Nov 2009 07:02
Centrica is trading as expected, with the gas supplier's lower effective tax rate and strong performance from the UK downstream business offsetting a drop in gas production and profitability. Gas production fell 50% in the third quarter from the same time last year and is expected to be down by abo
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 moreLondon open: Shares start lower
5th Nov 2009 08:17
London's top stocks opened lower in line with the weaker trend seen in the afternoon session on Wall Street and losses overnight on Asian markets. The market has much to occupy itself ahead of the announcement later today of the Bank of England's decision on whether to extend its quantitative easi
Read moreLondon pre-open: Footsie on the back foot
5th Nov 2009 07:36
The blue-chip index is set to open in negative territory, following the weaker trend seen in the afternoon session on Wall Street and losses overnight on Asian markets. Traders expect the FTSE 100 to open around 42 points lower. The market has much to occupy itself ahead of the announcement later
Read moreCentrica and Drax in new supply deal
5th Nov 2009 07:00
Energy provider Centrica has extended its supply agreement with power station operator Drax. Drax has committed to supply power to Centrica at a price set with reference to international coal prices and agreed fixed clean dark spreads, while Centrica will deliver matching carbon (CO2) allowances.
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 moreSector movers: Pru drags insurance sector lower
28th Oct 2009 13:30
Life insurance stocks fall back after a dive in UK business sent Prudential's group insurance sales down 9% during the third quarter. The Pru reported insurance sales of £700m for the three months ended 30 September, with nine-month sales also dropping 9% to £2.02bn. UK retail sales slumped 22% to
Read moreLondon midday: Miners join financials on the slide
28th Oct 2009 12:05
Miners have joined financial stocks in the dog house as the Footsie dives below 5200 and threatens to carry on going to sub-5100 levels. With metal prices in retreat miners such as Xstrata, Lonmin and Kazakhmys have muscled aside insurer Prudential in the race to be worst performing Footsie stock.
Read moreLondon open: Shares start down
28th Oct 2009 08:21
London's blue chips have opened lower as investors consider a slew of big corporate announcements and rumours surrounding the British banking sector. The European Commission is expected to approve plans to break up and sell Northern Rock, according to press reports. The Independent is quoting a Br
Read more