Thursday preview: Shell, Glaxo, Unilever
2nd Feb 2011 16:28
It might be wise to batten down the hatches on Thursday as a flood of company updates is predicted. Oil giant Royal Dutch Shell, pharmaceuticals colossus GlaxoSmithKline and household goods and foods leviathan Unilever are all set to declare full year figures while telecoms titan BT weighs in wit
Read moreLondon afternoon: Tobacco giant leads way
2nd Feb 2011 15:07
A limp start on Wall Street isn't helping London, but the leading index remains within reach of 6,000, supported by a strong mining sector and big gains at cigarette maker Imperial Tobacco. Resource plays still dominate the leaderboard. Eurasian National Resources (ENRC) is better on news productio
Read moreLondon midday: Miners underpin FTSE 100 gains
2nd Feb 2011 12:09
Strong gains in the mining sector are helping to keep the top share index close to the 6,000 point mark. Results are also driving shares forward. The best performing miner in the FTSE 100, Eurasian National Resources (ENRC), said production was in line with expectations in the fourth quarter of 201
Read moreLondon open: Miners push Footsie above 6,000
2nd Feb 2011 08:26
Mining stocks are driving London higher in the early going as the price of copper rose to record levels in New York and London, following unexpectedly good US manufacturing figures yesterday. The giants of the mining sector, BHP Billiton and Rio Tinto, are both sporting solid gains, as are Lonmin,
Read moreLondon pre-open: Footsie has 6,000 in its sights
2nd Feb 2011 07:35
After Wall Street's surge yesterday traders are realistically contemplating the Footsie rising above 6,000 again, though it will have to add to expected early gains, as the blue chip index is forecast to open at around 5,980, up 22 points from last night's close. Tobacco company Imperial Tobacco ha
Read moreGlaxo sells Quest stake for $1.7bn
2nd Feb 2011 07:14
Pharmaceuticals giant GlaxoSmithKline has raised $1.7bn through the sale of its entire shareholding in US firm Quest Diagnostics. After the tax man has taken his slice the company expects to receive cash proceeds of around $1.1bn. Around half the shares Glaxo offloaded were repurchased by Quest wh
Read moreTuesday newspaper round-up: Egypt, ECB, Marks & Spencer...
1st Feb 2011 06:42
Oil prices broke through the $100 a barrel level for the first time in more than two years, amid market fears that Egypt's turmoil will hit oil flows. Although both the Suez Canal and a pipeline linking the Red Sea with the Mediterranean continue to operate, the popular uprising to unseat Hosni Mub
Read moreLondon close: Stocks fall as nervousness sets in
28th Jan 2011 16:51
Shares were nursing big losses by the end of the day as more gloomy economic figures stoked nervousness. Consumer stocks were under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis h
Read moreLondon afternoon: Confidence blow for equities
28th Jan 2011 14:50
Leading shares are lower, with consumer stocks under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis have not helped sentiment. The GfK NOP Consumer Confidence Index dropped eight p
Read moreFTSE 100 movers: Bumper contract for Inmarsat
28th Jan 2011 14:09
Satellite operator Inmarsat is the best performer after it gained a contract worth $115m a year. Inmarsat has commenced phase 2 of its agreement with LightSquared which has led to an immediate payment to Inmarsat of $20.1m. The money is paid quarterly and the initial payment is a partial quarterly
Read moreWeek Ahead: BP, Shell, US non-farm payrolls
28th Jan 2011 13:32
There are some big guns releasing results next week, including oil giants BP and Royal Dutch Shell, pharmaceuticals titan GlaxoSmithKline and household goods and foods leviathan Unilever . It's also a big week for economic announcements, with the European Central Bank (ECB) set to announce its inte
Read moreFTSE 100 movers: Pearson increases guidance
19th Jan 2011 12:53
Pearson is top performer after the FT owner said 2010 earnings will be ahead of expectations. All of its major businesses did well throughout last year. The educational publisher expects full year operating profits to come in around 20% higher than 2009's level, at about £850m. GlaxoSmithKline h
Read moreTechMARK movers: Oxford profit-taking
19th Jan 2011 12:15
Scientific instruments supplier Oxford Instruments has been hit by profit-taking following its interim management statement. Trading has remained strong in the period since the 1 October. Orders, sales and profits are well ahead of the same period last year. The company has negotiated a new £50m
Read moreSector movers: Burberry lifts personal goods higher
18th Jan 2011 16:08
Personal goods is higher after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for Burberry with revenue up by 30% and profits now set to hit the top end of forecasts this year. Sales overall rose by 27% to £480m from £380m. Retail sales by 36% to £335m
Read moreFTSE 100 Movers: Burberry grows internationally
18th Jan 2011 13:15
Burberry is leading the market higher after strong third quarter figures. Revenue grew by 30% in the third quarter and full year profit is expected to be at the top end of market expectations. The growth is coming from around the world. Oil services provider Petrofac has won a $1.2bn oil field d
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