London afternoon: Rally fizzles out
27th Oct 2010 14:23
Expectations of a weak opening on Wall Street put an end to London's attempt to move into positive territory, and losses lengthened again over the lunch time session. Reports suggesting that any new stimulus in the US will be smaller than expected have knocked the miners with Kazakhmys, Xstrata and
Read moreGlaxo whistleblower gets £60m payout
27th Oct 2010 13:29
The whistleblower who revealed contamination issues at GlaxoSmithKline's (GSK) old plant in Puerto Rico has been awarded a $96m (£60m) settlement. It has taken eight years to get a result though. Cheryl Eckard, a former quality assurance manager at GSK, first went to the drug manufacturing facility
Read moreBroker tips: GSK, PartyGaming, Debenhams
22nd Oct 2010 12:54
Panmure Gordon has not changed its forecasts for GlaxoSmithKline following third quarter results that failed to rouse much excitement. The drugs firm's results were broadly in line with the broker's expectations reporting revenues of £6.81bn and earnings per share of 28.2p. The broker recently dow
Read moreBroker snap: GSK remains a 'hold'
22nd Oct 2010 12:15
Panmure Gordon has not changed its forecasts for GlaxoSmithKline following third quarter results that failed to rouse much excitement. The drugs firm's results were broadly in line with the broker's expectations reporting revenues of £6.81bn and earnings per share of 28.2p. The broker recently dow
Read moreLondon close: Late dip slows Footsie's progress
21st Oct 2010 16:42
A late sag pulled Footsie back after it seemed destined for its highest close since the middle of April. Good company news and a bright start on Wall Street, with the Dow up 100 points at the start, meant a strong afternoon session in London, but blue chips eased back as the day ended. BT was the
Read moreLondon afternoon: Shares climb higher as Wall Street advances
21st Oct 2010 15:37
Footsie is still going strong with a good start on Wall Street underpinning earlier gains. BT is higher after a favourable court ruling. The UK government has to guarantee all BT employees in the BT pension scheme, not just the ones that joined prior to privatisation in 1984, it was decided. Glax
Read moreSector movers: Telecoms sector gets BT boost
21st Oct 2010 15:28
BT is boosting the telecoms sector. The UK government has to guarantee all BT employees in the BT pension scheme not just the ones that joined prior to privatisation in 1984, according to a court ruling today. The government argued that the Crown Guarantee only covered members of the pension scheme
Read moreFTSE 100 movers: Pension decision boosts BT
21st Oct 2010 14:42
BT is higher after the courts ruled that the UK government has to guarantee all BT employees in the BT pension scheme not just the ones that joined prior to privatisation in 1984. The government argued that the Crown Guarantee only covered members of the pension scheme before BT was privatised and
Read moreTrading still challenging for GlaxoSmithKline
21st Oct 2010 14:14
GlaxoSmithKline reported better than expected earnings per share before restructuring costs but it says that the operating environment is challenging. Revenues were similar to expectations at £6.81bn in the three months to September 2010, against £6.76bn in the same period last year. Revenues wer
Read moreTechMARK movers: Bumper demand for Xaar
21st Oct 2010 13:54
Shares in print heads developer Xaar are soaring ahead following a strong trading statement and a £15m placing to finance capacity expansion. The share price has more than doubled in the past year having recovered to levels last achieved before sales problems in China. The placing is at 170p a sha
Read moreThursday preview: Glaxo, Debenhams, retail sales
20th Oct 2010 15:17
Drugs firm GlaxoSmithKline is scheduled to give a third quarter earnings update at noon on Thursday. Nomura Securities thinks net sales will be £6,716m and earnings per share (EPS) 27.2p. Charles Stanley is more optimistic on the sales side, going for £6,820m, but thinks EPS will be 25.6p. Market co
Read moreWeek Ahead: Spending review, Glaxo, Whitbread
15th Oct 2010 11:28
The government's keenly awaited comprehensive spending review is published on Wednesday, with the emphasis expected to be firmly on swingeing cuts in public spending. The chancellor of the exchequer, George Osborne, has set a target of cutting the structural deficit - the bit that is not subject to
Read moreDaly buys at BAT
1st Oct 2010 16:31
British American Tobacco's chief operating officer John Daly has invested nearly £511,000 in shares in the tobacco company. He has bought 21,200 shares at 2408.57p each and that takes his beneficial stake to 52,417 shares. Daly joined BAT as a result of its merger with Rothmans in 1999. He was a
Read moreGSK's sales of Avandia set to slump
24th Sep 2010 13:47
Singapore is the latest country to restrict the use of GlaxoSmithKline's anti-diabetes drug Avandia, following the EU's suspension of the marketing of the drug. The FDA in the US has also decided that Avandia will have to have additional safety labelling but it can continue to be prescribed to new
Read moreFTSE 100 movers: Banks and miners lower
23rd Sep 2010 16:45
Banks were lower on the day because of concerns about the Irish banking system and Lloyds led the way down. However, the banks did rally later in the day so their declines were more modest than in the morning. Miners also pared back some of their earlier falls due to lower commodity prices. Kazakh
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