London afternoon: Triple digit rise for Footsie
4th Jan 2011 14:31
Bid speculation is adding froth to a London stock market already playing catch-up with European and US markets that posted strong gains yesterday. Oil giant BPis boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's Gulf of Mexico oil spill, which s
Read moreLondon midday: FTSE 100 roars past 6,000 points
4th Jan 2011 12:01
The top share index's storming start to 2011 continues, with the FTSE 100 now well clear of 6,000 points and sitting at levels not seen since the first half of 2008. Among today's high fliers is BP, with the oil giant boosted by reports that rival Shell looked into making a bid for the company in t
Read moreLondon open: Blue chips open 2001 in buoyant mood
4th Jan 2011 08:46
Big gains in the US overnight and a strong display in Asia this morning have encouraged a rush of buying in London. Banks are strong led by Royal Bank of Scotland on good economic data coming out of Europe and the US yesterday, while Bank or America's settlement with Fannie Mae and Freddie Mac has
Read moreLondon pre-open: Rally seen close to 100 points
4th Jan 2011 07:36
Big gains in the US overnight and a strong display in Asia this morning are set to give London a big lift first thing Tuesday. Futures prices indicate a 93-point gain for the FTSE 100 as traders return to their desks after their Christmas and New Year break. In company news, no frills airline easy
Read moreCostain wins roads contract
4th Jan 2011 07:20
Construction and engineering group Costain has been awarded a highways contract by Neath Port Talbot County Borough Council. The £59m contract is to construct 4.5 kilometres of dual carriageway access road from the M4 Junction 38 into Port Talbot and the docks, as well as completing the link to Jun
Read moreLondon close: Footsie has 6,000 in its sights
22nd Dec 2010 17:23
Leading shares tended firmer throughout the afternoon session leaving the blue-chip index well placed to break through the 6,000 barrier tomorrow if it enjoys another day like today. Shares shrugged off the disappointment of a downward revision to third quarter gross domestic product (GDP) data. UK
Read moreLondon afternoon: Shares steady after strong run
22nd Dec 2010 14:24
The top share index is holding onto its gains, continuing to sit near 2½-year highs. There has been some big economic news, but the market was largely unmoved. Third quarter UK gross domestic product (GDP) rose 0.7%, revised figures show. Previously third quarter GDP growth had been estimated at 0.
Read moreBroker tips: BSkyB, Begbies, Costain
22nd Dec 2010 13:33
Daniel Stewart has reiterated a 'hold' rating for satellite broadcaster British Sky Broadcasting (BSkyB) in light of recent developments relating to the News Corp bid. Business secretary Vince Cable unwittingly told two undercover reporters that he had "declared war" on Rupert Murdoch's News Corp "
Read moreBroker snap: Costain bid 'makes sense'
22nd Dec 2010 12:40
Panmure Gordon likes Costain despite the construction and engineering group's recent bid for support services group Mouchel being rejected. Costain's approach was made at 0.5135 new Costain shares for each Mouchel share, which values the latter at 106p. Even though Mouchel rejected the offer, the
Read moreLondon midday: FTSE 100 nears 6,000 points
22nd Dec 2010 12:02
The top share index is still in the blue by a few points sitting near levels not seen since the first half of 2008 and creeping ever closer to the 6,000 point mark. On the economic front, third quarter UK gross domestic product (GDP) rose 0.7%, revised figures show. Previously third quarter GDP gro
Read moreLondon open: FTSE 100 pauses after rally
22nd Dec 2010 08:43
Company news is thin on the ground as Christmas approaches and the leading share index is little changed following recent gains that have brought it to 2½-year highs. ARM Holdings is a notable riser, with the chipmaker's shares up 10%. Software giant Microsoft is expected to announce a new operati
Read moreLondon pre-open: Pause for breath anticipated
22nd Dec 2010 07:35
It looks like stocks will take a breather after yesterday's rally to a new 2½-year high, although the early retreat isn't expected to go far. The FTSE 100 is expected to drop around 8 points when trading gets underway, according to current futures prices. In company news, British Land and Oxford P
Read moreCostain says Mouchel rejected takeover proposal
22nd Dec 2010 07:17
Construction and engineering group Costain has emerged as one of the companies that has made an approach to struggling support services group Mouchel. Costain announced today that it approached Mouchel's board on 2 December, with a view to making an offer comprising 0.5135 Costain shares for every
Read moreSmall caps round-up: Northacre, Lipoxen, Acal ...
29th Nov 2010 14:36
Property developer Northacre said the residential property sector is still suffering from a shortage in bank finance which is limiting the pipeline of new development opportunities. The company narrowed its loss before taxation in the six months ended 31 August to £1.26m from £1.98m at the interim
Read moreCostain slashes pension deficit with PFI transfer
8th Nov 2010 11:00
Shares in Costain jumped after the construction and engineering group announced that it had reduced its pension deficit by £22m after transferring its interest in six PFI investments into its pension scheme. It said the valuation realised on the investments was higher than expected. As a result o
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