London midday: Banks hold back FTSE 100
24th Jan 2011 12:13
Shares are still seeking direction as banks fall back. The sector is weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled the mood. RBS
Read moreDe La Rue rejects improved offer
24th Jan 2011 11:10
Banknote printer De La Rue has rejected an improved offer from French rival Oberthur. Oberthur increased its offer for De La Rue to 935p from 905p previously, but De La Rue said that this "continues to undervalue significantly the strong fundamentals of the Company and its long term prospects." Ch
Read moreFTSE 250 movers: Debenhams and Ocado among the fallers
10th Jan 2011 16:04
Snow-related updates are still coming in with December's bad weather clipping department store Debenhams' sales growth by 2.5%-3%, though underlying sales still picked up slightly thanks to strong online growth and market share gains. Group gross transaction value for the 19 weeks to 8 January inc
Read moreOberthur given Feb deadline for De La Rue bid
10th Jan 2011 15:53
French banknote printer Oberthur has been given until 5pm on 7 February to make a bid for UK rival De La Rue or walk away. The company last month made an indicative all-cash proposal of 905p-a-share for De La Rue, which was roundly rejected as it "in no way reflects the fundamental value of the com
Read moreDevro hires former De La Rue FD
5th Jan 2011 07:31
Devro, famous for its sausage skins, has named Simon Webb as its new finance director, seven months after he left banknote printer De La Rue "to seek a new challenge". Webb joins Devro, which makes a range of collagen products for the food industry, on 7 April, more than a year since his departure
Read moreLondon close: FTSE 100 storms past 6,000
4th Jan 2011 16:36
The top share index lost some if its strong early gains ahead of the close, but still finished above the psychologically important 6,000 point mark on a storming start to 2011. Oil giant BPwas boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's G
Read moreOberthur turns up heat on De La Rue
4th Jan 2011 13:22
Oberthur, the French banknote printer that has bid for De La Rue, cranked up the pressure on its British rival Tuesday saying it believes that De La Rue has missed out on a recent tender to supply currency paper to the Reserve Bank of India. Oberthur last month confirmed it had made a 905p-a-share
Read moreTuesday tips round-up: Vodafone, Majestic Wine, Diageo...
14th Dec 2010 06:59
Vodafone seems to be in quite a good position. It is making a bet on the growth of smartphones, which seems sensible, and recently launched new tariffs that allow cheaper browsing while abroad. Analysts are backing revenues to grow and have the stock on a price of 8.7 times estimated full-year ear
Read moreLondon close: One-month high for Footsie
13th Dec 2010 16:33
More than £2bn of merger and acquisition activity got pulses racing in City dealing rooms, combining with strong miners and gains on Wall Street to send London to its highest in a month. Oilfield services group Wood Group is forking out $955m (£607m) for rival PSN, which it will merge with its prod
Read moreLondon afternoon: Footsie maintains lead
13th Dec 2010 15:04
Blue chips are trading not far off their best levels of the day, still led by mining stocks and supported by a decent start on Wall Street. A rash of merger and acquisition activity over here is replicated in the US, getting investors in buying mood in the absence of any major economic news. Oilfi
Read moreLondon midday: Shares still ahead
13th Dec 2010 12:10
Shares remain buoyant, with oilfield services stocks in the spotlight amid some well-received news from the sector. Wood Group expects results this year to be slightly ahead of expectations. The Aberdeen-based firm saw continued progress at most of its key divisions. Its engineering unit secured a
Read moreLondon open: Healthy start for blue chips
13th Dec 2010 08:42
London has made decent progress in early dealings with oil services groups lifting the mood. Wood Group expects results this year to be slightly ahead of expectations. The Aberdeen-based firm saw continued progress at most of its key divisions. Its Engineering unit secured a number of awards durin
Read moreDe La Rue names Cobbold chief executive
13th Dec 2010 07:44
Bid target De La Rue has named Tim Cobbold as chief executive with effect from 1 January 2011. The banknote printer said Cobbold, currently CEO at Chloride Group, has over twenty years of international management experience in manufacturing industries. The appointment follows months of turmoil
Read moreLondon pre-open: Decent start predicted
13th Dec 2010 07:34
London is expected to make decent progress in early dealings with futures pointing to gains of about 30 points for Footsie from its Friday close of 5,813. Oilfield services firm Wood Group expects results for the year to 31 December 2010 to be slightly ahead of expectations. The Aberdeen-based firm
Read moreThursday newspaper round-up: BAE, De La Rue, bonds
9th Dec 2010 06:17
About 1,350 British jobs are to be lost at BAE Systems, the company is expected to announce today. The job cuts represent the first tranche of defence layoffs to be announced since the Government's review of defence spending led to the decision to axe the Nimrod and Harrier aircraft, which BAE Syste
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