London 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
Read moreLondon midday: Banks lift Footsie on euro optimism
5th Dec 2011 12:00
Hopes that leaders can bring an end to the euro crisis lifted markets on Monday. Many believe that it is now make-or-break time for the single currency, echoing remarks made last week by Economic and Monetary Affairs Commissioner Olli Rehn that the continent had just 10 days to save the euro. The de
Read moreLondon open: Stocks up on euro hopes, Michael Page tanks
5th Dec 2011 08:17
London's blue chip index has opened higher, building on last week's gains of 7.5%, as a pivotal week in the Eurozone crisis kicks off. KEY WEEK FOR EURO French President Nicolas Sarkozy and German Chancellor Angela Merkel are due to meet in Paris today to discuss the centralised control of Eurozon
Read moreTesco director makes a return
10th Nov 2011 15:25
Chairman of Tesco Bank Andrew Higginson, who recently announced his plans to check-out from the supermarket giant next year, has sold £1.4m worth of his shares in the firm. 54-year-old Higginson, who was formerly group finance and strategy director for the firm, is the man behind Tesco's lucrative
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