easyJet hits back at Stelios
18th May 2010 16:28
easyJet chairman Sir Michael Rake has hit back at founder Sir Stelios Haji-Ioannou and hinted that shareholders could receive a dividend or capital distribution some time in the future. Sir Stelios resigned from the board of the low cost airline on Friday and criticised the strategy of the company
Read moreTuesday newspaper round-up: British Airways, Jupiter Asset, Prudential
18th May 2010 06:38
British Airways has been granted an injunction to stop the Unite union from carrying out cabin crew strikes that had been due to start at midnight tonight. The High Court ruling, based on a technicality in the balloting procedure, is set to delay the start of the first of a four five-day strikes pl
Read moreLondon close: Flat finish for FTSE 100
17th May 2010 16:51
A late slide on the back of weakness in the US resulted in a flat finish for FTSE 100, which had been buoyant for most of the day following a recovery after Friday's slide. Life insurer Prudential's announcement of a rights issue barely moved the stock. Much of the news from the Pru was leaked befo
Read moreLondon afternoon: Shares stay strong
17th May 2010 15:19
A sluggish start on Wall Street has failed to dent sentiment in London, where stocks are higher following Friday's slide. Life insurer Prudential's announcement of a rights issue has barely moved the stock. Much of the news from the Pru was leaked beforehand, but an 11-for 2 rights issue still repr
Read moreFTSE 250 movers: Mitie climbs after mighty profit rise
17th May 2010 14:21
Services group Mitie is going well after it revealed a 17% rise in annual pre-tax profit, increased its dividend and said it is confident on delivering sustainable profitable growth. Private equity group SVG Capital falls after saying it has seen the value of its quoted investment portfolio grow by
Read moreLondon midday: Shares strong after recovery
17th May 2010 12:47
Footsie is posting good gains as sentiment picks up following the slide on Friday. Life insurer Prudential's announcement of a rights issue has barely moved the stock. Much of the news from the Pru was leaked beforehand, but an 11-for 2 rights issue still represents an eye-watering number of new s
Read moreSunday newspaper round-up: Euro, British Airways, Prudential
16th May 2010 09:58
The euro is set to slide further and could be heading for parity with the dollar, analysts say. The single currency's weakness and mounting fears over Europe's recovery prospects could hit growth in Britain. The euro fell to a 19-month low against the dollar of $1.23 on Friday night, amid fears th
Read moreSir Stelios wants easyJet strategy change
14th May 2010 17:07
easyJet founder Sir Stelios Haji-Ioannou and his associate Bob Rothenberg have resigned from the airline's board in order to change the strategy of the business. Both men were representatives of easyGroup, which owns 26.2% of easyJet. Sir Stelios says that he wants to be free to seek a change in t
Read moreLondon close: Deficit narrows
11th May 2010 16:34
Losses halved during the afternoon session as it looked increasingly likely the Liberal Democrats will jump into bed with the Conservative party and form a coalition government. Buyers nibbled at weak miners and banks, down sharply earlier on doubts about the €750bn Eurozone bailout plan. Kazakhmy
Read moreLondon afternoon: Political indecision weighs
11th May 2010 15:33
With still no decision on who's running the country and Wall Street deep in the red, London's FTSE 100 is nursing triple digit losses. Concerns about the €750bn bailout agreed by European governments to prevent economic collapse in the Eurozone also continue to weigh. Banks remain among the worst
Read moreFTSE 250 movers: Enterprise fizzing after fundraising
11th May 2010 13:15
Investors have raised a glass to Enterprise Inns' new £625m debt facility. The pub group's shares rose more than 10% having already climbed yesterday after the media got wind of the news over the weekend. Fellow tenanted pub group Punch Taverns is up in sympathy. Engineering support services group
Read moreLondon midday: Shares drift lower on bail-out doubts
11th May 2010 12:16
The leading share index is posting triple-digit losses as nerves set in over the prospects for the €750bn bailout agreed by European governments to prevent economic collapse in countries that use the euro. Banks are among the worst performers, most notably part-nationalised Royal Bank of Scotland.
Read moreLondon open: Blue chips retreat as uncertainty returns
11th May 2010 08:40
Footsie has given back some of the strong gains posted yesterday on the back of the euro bail-out. Uncertainty over who will govern the UK is to blame but there are also growing doubts over the substance of the euro plan. A string of company announcements is helping to deflect attention away from
Read moreEasyJet cuts profit guidance due to volcanic ash
11th May 2010 07:30
EasyJet reported a smaller than expected first half loss but cut its full year profit forecast due to the recent travel disruption caused by volcanic ash. The carrier revised its profit expectations for the year to a range of £100m to £150m at current exchange rates and fuel price, down from expect
Read moreTuesday preview: EasyJet, Babcock, InterContinental Hotels
10th May 2010 16:36
The market will watch out for the impact last month's volcanic ash cloud has had on EasyJet's half year figures. The no-frills airline's first half results have already been well flagged by the company to come in at the top end of the £80m-£95m loss range. Nomura expects the loss to amount to £8
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