London close: Directionless day for FTSE 100
29th Sep 2009 16:52
Footsie finished slightly in the red after another day of flitting between the red and the blue while not showing any real sense of direction. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift into reverse
Read moreLondon afternoon: Back to square one
29th Sep 2009 14:34
It's back to square one for the Footsie which is barely changed on the day, with gains on banks and insurers counterbalanced by miners and property stocks. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift
Read moreBroker tips: Compass, Daily Mail, Straight
29th Sep 2009 12:53
Despite a strong set of fourth quarter results from contract caterer Compass Group, Charles Stanley is downgrading the stock to 'buy' from 'strong buy' as the share price approaches the broker's 400p price target. After the third quarter update in July, which showed organic revenue growth in declin
Read moreLondon midday: Blue chips still struggling
29th Sep 2009 12:06
Miners and property stocks are keeping Footsie in the red despite the banking and insurance sectors going well. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of British Land, Land Securities, SEGRO and Hammerson to shift into reverse. Credit Suisse's
Read moreFTSE 100 movers: Compass points higher
29th Sep 2009 11:51
Contract caterer Compass is pointing higher after it reported trading has gone well in the fourth quarter with underlying earnings to be up by around 14% on a constant currency basis. Operating profit will get a boost of £120m from the movement of our key currencies compared with last year. Rumours
Read moreBroker snap: Compass reassures
29th Sep 2009 09:58
Despite a strong set of fourth quarter results from contract caterer Compass Group, Charles Stanley is downgrading the stock to 'buy' from 'strong buy' as the share price approaches the broker's 400p price target. After the third quarter update in July, which showed organic revenue growth in declin
Read moreLondon open: Dull start for Footsie
29th Sep 2009 08:51
Three-figure gains in the US overnight haven't helped London much with blue chips going lower in early dealings. Property groups are weak with all of the sector heavyweights - British Land, Land Securities and Hammerson - under pressure. Banks are offsetting some of this weakness after the Times
Read moreLondon pre-open: Stocks to creep higher
29th Sep 2009 07:39
Three-figure gains in the US overnight are set to help London add about 5 points early on, according to futures prices. A pick-up in merger and acquisition activity was behind Wall Street's advance, but much of the rally has been priced in over here already. On the companies front, contract cater
Read moreCompass happy with fourth quarter
29th Sep 2009 07:12
Contract caterer Compass reports trading has gone well in the fourth quarter with underlying earnings to be up by around 14% on a constant currency basis. Margins are expected to be up 70 basis points in the fourth quarter to September and approximately 60 basis points in the full year as cost savi
Read moreTuesday preview: Compass, Daily Mail, Close Brothers
28th Sep 2009 14:54
Investors will be looking for signs of life in the advertising market, which contributes around 30% of group revenues, in the trading statement from newspaper publisher Daily Mail and General Trust (DMGT) on Tuesday. Comparative figures for a year ago are soft so the company should be able to repor
Read moreReckitt appoints Compass chief to board
23rd Sep 2009 15:07
The boss of caterer Compass is joining Reckitt Benckiser as a non-executive director to replace David Tyler who's leaving for the chairman's role at Sainsbury's. Richard Cousins, who was also on the board of HBOS during the credit crisis, will take up his role at the household products firm on 1 Oc
Read moreLondon close: Ten out of ten for Footsie
24th Jul 2009 17:13
The FTSE 100 index made it ten days of rises in a row, despite tailing off towards the close as investors looked to bank profits ahead of the week-end. It capped the best rally by the blue-chip index in five years. The rise was achieved despite dismal gross domestic product data. UK output contract
Read moreLondon afternoon: Financials find favour
24th Jul 2009 14:11
Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of
Read moreBroker tips: Vodafone, Compass, Housebuilders
24th Jul 2009 11:55
Friday's quarterly trading update from telecoms giant Vodafone contained nothing worrying enough to persuade Morgan Stanley to changes its favourable stance on the stock. The US bank has maintained its "overweight" recommendation for Vodafone, saying the "valuation thesis remains compelling." "Und
Read moreLondon midday: London shrugs off GDP shock
24th Jul 2009 11:54
After a shaky opening the market is moving steadily ahead, despite receiving a jolt from much worse than expected gross domestic product (GDP) figures. Output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Office for National Statistics' flash est
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