London midday: Footsie hobbled by resource stocks
15th Sep 2010 11:58
Resource stocks are dragging London lower despite a good showing by retailers. Lower commodity prices are largely responsible for the sell off of commodity stocks, though legal battles also hover over a couple of stocks. BP is lower in line with weaker oil prices, with the oil giant suffering more
Read moreBroker tips: ARM, Next, Drax
4th Aug 2010 12:35
With directors of ARM Holdings cashing in some of their shares KBC Peel Hunt has asked the question whether other holders of the chip designer's shares should do likewise. "Recent performance has been reminiscent of 1999, and the high valuation, combined with limited scope for upgrades and a weaken
Read moreBroker snap: Drax remains a yield play
4th Aug 2010 11:18
Results from coal-fired power plant operator Drax provided little impetus for analysts to alter full-year forecasts, though Nomura Securities has trimmed its earnings per share estimate by 3%. The broker noted that the commodity outlook has changed little since it upgraded the stock to "neutral" in
Read moreWednesday newspaper round-up: Interest rates, Egg, BP
4th Aug 2010 06:34
Interest rates may have to rise far more sharply than households and markets expect as the Bank of England moves to head off inflation risks, the former deputy governor said yesterday, the Times reports. Sir John Gieve told a City of London audience that solid economic growth could prompt the Bank
Read moreLondon afternoon: Fire sale at BP continues
3rd Aug 2010 14:14
After yesterday's dramatic rise London is taking a pause for breath today and either digesting the steady stream of big company results already out this week or preparing for results from the giants of the insurance and banking sectors later this week. Insurance colossus Aviva , scheduled to releas
Read moreLondon midday: Rally stalls
3rd Aug 2010 12:09
A mid-morning rally petered out just before noon leaving the FTSE 100 index still in negative territory, though not by much. Specialist banking group Investec is the heaviest faller in the FTSE 100. It has raised £104.5m through a placing of 22m shares at 475p each. The placing increases the share
Read moreLondon close: Footsie fights back
3rd Aug 2010 09:28
Footsie fought hard to finish in the blue after easing back following yesterday's surge, and was just a whisker short of positive territory at trading's close. An improvement on Wall Street after a shaky start breathed life into London's leading share index. Insurance colossus Aviva , scheduled to
Read moreLondon open: Profit taking clips Footsie
3rd Aug 2010 08:49
London's top stocks have run into some profit taking after yesterday's big gains both here and on Wall Street. Banks are mixed after confusing figures from state-owned Northern Rock. Now split into its "good half" and "bad half", the "bad half" bounced back into profit while the supposedly "good"
Read moreLondon pre-open: Small drop seen after Monday's rally
3rd Aug 2010 07:34
London's top stock are expected to open around 10 points lower after posting triple-digit gains yesterday. Miners could be in focus after Xstrata reported half year results. Anglo-Swiss mining leviathan Xstrata saw profits soar in the first half as the company remained on track to hit its productio
Read moreDrax profit jumps, remains cautious
3rd Aug 2010 07:02
Coal-fired plant operator Drax announced a 23% increase in earnings but said it remains cautious in its outlook for the commodity markets in which it trades. Drax also said that development work to convert one of its units to burn biomass-only will now continue into 2011 before an investment case c
Read moreTuesday preview: Drax, ITV, PMI construction
2nd Aug 2010 17:01
Coal-fired plant operator Drax has seen its share price warm up considerably since it said in mid-May that it continued to benefit from a very strong contracted position. The company issues interim figures on Tuesday with Deutsche Bank tipping the company will announce a moderate increase in earni
Read moreMARKET TALK: Evolution Downgrades Drax To Neutral From Add
21st Jul 2010 14:19
1319 GMT [Dow Jones] Evolution Securities downgrades Drax (DRX.LN) to neutral from add, noting sagging UK gas prices. Says: "There are two current supports to the Drax share price: a vague bid rumor, but we have difficulty in seeing who would bid; and robust earnings in 2010 and 2011 due to forward
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
21st Jul 2010 14:19
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1319 GMT [Dow Jones] Evolution Securities downgrades Drax (DRX.LN) to neutral from add, noting sagging UK gas prices. Says
Read moreUK Drax To Convert Coal-fired Boiler To Biomass - FT
1st Jul 2010 07:32
LONDON (Dow Jones)--The U.K.'s largest power station, Drax, is to convert one of its coal-fired boilers to use biomass, the Financial Times reports on its website Thursday. Drax has burnt biomass for seven years, but only by mixing it with coal. The move could reduce carbon dioxide emissions
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:19
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0619 GMT [Dow Jones] The VAT increase announced by the UK Chancellor will benefit UK water and energy networks, says Deutsche
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