London midday: Stocks settle after ECB refinancing
29th Feb 2012 11:38
- Higher-than-expected LTRO take-up. - ITV surges on 'exceptional turnaround'. - Ludowici issues overshadow impressive 2011 for Weir. The initial celebration of the results of the European Central Bank's (ECB's) refinancing operation quickly faded in late morning trade, with the Footsie broadly fl
Read moreLondon open: Stocks flat ahead of ECB refinancing operation
29th Feb 2012 08:31
- Investors await ECB's LTRO. - ITV jumps 7% after strong 2011. - Ludowici issues overshadow impressive 2011 for Weir. The Footsie lacked direction in the opening hour on Wednesday as investors hold out for the result of the European Central Bank's (ECB's) second longer term refinancing operation,
Read moreThursday tips round-up: Hays, Filtrona, Logica...
23rd Feb 2012 06:47
In the Times, Tempus looks at the CV of recruitment firm Hays which yesterday announced a 55% cut in its interim dividend. The UK and Ireland division made a £3m loss and has been forced to close offices to cut costs. The other divisions covering the Continent and Asia Pacific did well. Currently
Read moreLondon close: Losses pared, but stocks still down on macro worries
22nd Feb 2012 16:32
- Risk of a Eurozone recession increase as PMIs show contraction. - Fitch downgrades Greece from CCC to C. - Rexam up 7pc after FY results, Vedanta falls 5pc after yesterday's surge. Stocks rallied in afternoon trade in London, recovering from the slump experienced in mid-morning. However, the Foot
Read moreFTSE 250 movers: Galliford leaps on divi raise
22nd Feb 2012 14:27
Housebuilding and construction firm Galliford Try rose to pole position after reporting that it had doubled its interim dividend and delivered strong profit growth. Pre-tax profit rose to £32.2m for the half year ended 31 December 2011 from £17m the same time a year earlier. Group revenue climbed
Read moreLondon midday: Stocks fall as Fitch downgrades Greece
22nd Feb 2012 11:47
- Fitch downgrades Greece from 'CCC' to 'C'. - MPC divided on level of QE. - Vedanta pulls back after yesterday's strong surge. UK stocks fell further into the red by midday after Fitch downgraded Greece's sovereign debt rating. While the decision was unarguably crucial to help the heavily-indebted
Read moreLondon open: Footsie slips as ex-div stocks provide a drag
22nd Feb 2012 08:35
- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightly into the red in the opening hour on Wednesday as investors continue to digest the Greek bailout approved on Monday night. Meanwhile, Chinese manufac
Read moreHays rebases dividend as some markets deteriorate
22nd Feb 2012 07:19
Recruitment firm Hays has rebased its dividend to what it believes is a more appropriate level, as its home market remains depressed and other markets show signs of deterioration. The dividend has been pared, as widely expected by the market, with the company reducing the interim payment to 0.83p f
Read moreWednesday preview: Hays, Millennium and Copthorne, house builders, BoE minutes
21st Feb 2012 17:08
Recruitment firm Hays could slice the dividend when it announces interim figures on Wednesday. Charles Stanley reckons the interim divi will be rebased - City code for "reduced" - to a penny from 1.85p last year. "Unfortunately, for shareholders, the dividend is probably no longer affordable and
Read moreFTSE 250 movers: Debenhams in top spot
10th Jan 2012 15:27
Debenhams raced into pole position after its Christmas trading statement showed a better-than-expected like-for-like (LFL) sales performance in the 18 weeks to January 7th. Shares jumped over 11% after LFL sales (excluding VAT) came in flat, compared with expectations of a decline. Panmure Gordon
Read moreTuesday broker round-up - UPDATE
10th Jan 2012 09:15
Cairn Energy: Oriel upgrades to add from hold. Tesco: Bank of America Merrill Lynch downgrades to neutral from buy. Marks & Spencer: Panmure Gordon reiterates hold and 307p target; Peel Hunt maintains hold and 350p target. Barclays: UBS cuts target from 215p to 199p, neutral rating unchanged. R
Read moreLondon open: Footsie helped higher by miners
10th Jan 2012 08:28
The FTSE 100 had a strong start on Tuesday morning with just two stocks in the red early on. In economic news, UK retail sales values were 2.2% higher on a like-for-like basis in December, helped by an easy comparison when last year was affected by the snow. Total sales rose 4.1%. "On both measures
Read moreFees climb 8% at Hays
10th Jan 2012 07:22
Recruitment firm Hays said total like for like net fees for the quarter ended 31 December 2011 rose 8% following strong growth in France, Germany and Asia Pacific while UK operations continued to struggle. Hays saw like for like growth of 20% in Continental Europe & Rest of World, driven by German
Read moreBroker tips: Tesco, Standard Chartered, Recruiters
8th Dec 2011 11:17
Today's update from Tesco has prompted a mixed reaction from brokers Nomura and Evolution Securities, who have given contrasting assessments of the supermarket chain's third quarter figures. Nomura is generally pleased with the statement, saying that the figures came in line with expectations. The
Read moreBroker snap: 'Choppy waters ahead' for recruiters, says Investec
8th Dec 2011 09:50
After two recent updates from recruiters confirmed a marked slowdown in the fourth quarter, Investec has reassessed its forecasts for the sector. The recruitment sector - which Investec highlights as "very economically cyclical" with "little visibility" - is expected to be held back by an recession
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