FTSE 250 movers: Investors cheer Mondi results
23rd Feb 2010 12:00
Mondi is higher after the paper and packaging group reported lower profits for 2009 but took heart from a revival in trading conditions in Europe in the final quarter. A rise in profits from Croda has sparked a positive reaction from shareholders. The speciality chemicals supplier lifted underlying
Read moreLondon open: Shares start strongly
23rd Feb 2010 08:38
Shares have started strongly as company updates are given a warm reception. Shares in Wolseley jumped after the building supplies group said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to
Read moreLondon pre-open: Slight gains expected
23rd Feb 2010 07:36
Footsie is expected to rise slightly despite a lower finish on Wall Street last night. Building supplies group Wolseley said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to improvements in c
Read moreDrax tops expectations
23rd Feb 2010 07:03
Drax, operator of the UK’s largest coal-fired power station, delivered a set of full year results ahead of market expectations, despite poor market conditions. Earnings before interest, tax, depreciation and amortisation (EBITDA) in 2009 were £355m, down from £454m in 2008 but ahead of market expec
Read moreTuesday preview: Drax, Croda, Morgan Sindall
22nd Feb 2010 17:20
Drax, operator of the UK's largest coal-fired power station, is set to report a sharp drop in full year pre-tax profits on Tuesday, with the investment analyst community expecting a figure of around £266.1m, compared to £442.5m in 2008. Revenue is expected to ease to £1,356.0m from £1,752.8m. Full
Read moreDrax picks eaga for energy saving initiative
7th Jan 2010 12:21
Energy efficiency firm eaga has been chosen by Drax to provide services linked with the power station operator's Community Energy Saving Programme (CESP) obligation. CESP is a Government initiative requiring UK power generators to fund the installation of energy efficiency measures for households i
Read moreThursday tips round-up: GKN, Drax, Xchanging
17th Dec 2009 06:10
GKN yesterday delivered its first upgrade to profit forecasts this year ? but you might not guess it from the shares in the aerospace and automotive engineer, which actually fell on the day. At 113½p, or eight times the best guess of 2011 earnings, the shares trade at a steep discount to US peers. B
Read moreUK close: FTSE 100 closes higher
16th Dec 2009 16:43
Footsie ended with gains as better than expected UK unemployment figures lifted sentiment. The number of people claiming unemployment benefit fell for the first time since February 2008 in November amid further signs the UK economy is beginning to recover from the economic downturn. The claimant
Read moreLondon afternoon: Stocks lack direction
16th Dec 2009 14:30
Leading shares are mixed, with the Footsie dipping a toe into negative territory despite better than expected UK unemployment figures announced this morning. The number of people claiming unemployment benefit fell for the first time since February 2008 in November amid further signs the UK economy
Read moreLondon midday: Data gives blue chips a boost
16th Dec 2009 12:14
Footsie is maintaining most its early gains after some better-than-expected unemployment data. The number of people claiming unemployment benefit fell for the first time since February 2008 in November amid further signs the UK economy is beginning to recover from the economic downturn. The claim
Read moreLondon open: Decent start for Footsie
16th Dec 2009 08:40
London's blue chips have opened higher with financials and support services groups leading the way. It has been a busy morning for company statements ahead of the holiday wind-down. Overall demand at GKN has been better than predicted at its last update in October and the automotive and aerospace e
Read moreLondon pre-open: Market set for flat start
16th Dec 2009 07:41
The Footsie looks set to open barely changed, following on from yesterday's session which saw losses narrow towards the close. There have been some upbeat trading statements that might provide some share price action, but the update from Punch Taverns does not fall into the 'upbeat' category. The
Read moreDrax ahead of forecasts
16th Dec 2009 07:25
Power station operator Drax expects underlying profits to beat market forecasts this year, despite lower prices for electricity, but is more cautious on pricing going forward. "Our earnings have been enhanced by both a strong forward contracted position and our ability to capture value from Drax Po
Read moreBroker snap: Drax is 'stock to avoid'
15th Dec 2009 12:41
Power station operator Drax stays as 'underweight' at JP Morgan based on continuing oversupply in the UK gas market, which keeps electricity prices weak. The broker, which has a 450p price target on the shares, sees Drax as "the stock to avoid in 2010" as UK gas weakness and a healthier global coal
Read moreBroker tips: Rio Tinto, Xstrata, Drax, Game
15th Dec 2009 12:41
Strong demand from China and restocking in 2010 could lead to the most resource intense recovery since the 1970s, according to one broker. UBS says companies have cannibalised 15% of a year's supply of base metals out of the supply chain in 2009, and will have to return to buying that material agai
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