London midday: Miners buoy Footsie
10th Jun 2010 12:06
Though embattled oil giant BP remains a drag on the index the market had a positive morning session, helped by demand for mining stocks. Wednesday's plunge in the value of its US stock shocked BP into issuing a statement this morning claiming it knows of no reason for the dramatic sell-off. BP shar
Read moreLondon open: BP leads decline
10th Jun 2010 08:50
London's leading shares spilled into the red in early deals, led by oil giant BP. Wednesday's plunge in the value of its US stock has shocked British oil giant BP into issuing a statement this morning claiming it knows of no reason for the dramatic sell-off. BP shares slumped 16% in heavy US trade
Read moreBroker tips: Shell, 888, Hargreaves Lansdown
28th Apr 2010 13:10
First quarter results from Royal Dutch Shell were ahead of expectations, prompting Charles Stanley to upgrade the stock. The broker is now recommending its clients accumulate the stock, having previously rated the stock a "hold". "The first quarter results reflect the beginning of a more encouragi
Read moreBroker snap: FSA proposals a worry to Hargreaves Lansdown
28th Apr 2010 13:07
It is time to take profits at wealth management firm Hargreaves Lansdown, according to FinnCap, as the share price has looked frothy for a while. "Proposals from the Financial Services Authority to prevent platforms paying rebates to consumers could undermine the business model of discount brokers,
Read moreFTSE 250 movers: Poor sales give Premier indigestion
27th Apr 2010 12:33
Shares in Premier Foods have taken a big hit after the company behind Hovis bread, Branston pickle and Sharwood's sauces, reported a 5.1% drop in first quarter sales and said it remains cautious about the consumer and trading environment for 2010. Also in the red is homewares retailer Dunelm, which
Read moreHargreaves steps down as Hargreaves Lansdown CEO
26th Apr 2010 17:09
Hargreaves Lansdown has announced that Peter Hargreaves, the co-founder of the fund manager, will step down as chief executive in the autumn of 2010. Ian Gorham, who has been chief operating officer since September 2009, will be appointed as deputy chief executive with immediate effect and will, su
Read moreBroker snap: Sage, Hargreaves Lansdown, Pace
19th Apr 2010 13:50
Though sorry to see Paul Walker go, Panmure Gordon thinks Sage chief executive Paul Walker could not have chosen a better time to announce his decision to step down, as the going should start to get easier now for whoever succeeds him. "An ability to drive 'growth' is the key ask for the new CEO [c
Read moreBroker snap: Hargreaves Lansdown fairly valued
19th Apr 2010 13:48
Singer Capital Markets is upgrading its earnings estimates for Hargreaves Lansdown after the wealth management firm said the first three months of 2010 represented the best quarter ever for the company's fund management arm. "Given the higher than forecast pace of AuA [assets under administration]
Read moreLondon close: Markets dive
16th Apr 2010 16:21
Along with other global markets, London's benchmark was sideswiped by news that Goldman Sachs has been charged with fraud on subprime mortgages by the US Securities and Exchange Commission. Stocks nosedived around 70 points in the final hour of trading as the news emerged. The banking sector had be
Read moreLondon afternoon: Footsie slips back
16th Apr 2010 14:35
Footsie has drifted back a little with miners among the stocks dragging on the leading share index. Cambridge-based enterprise software giant Autonomy is the heaviest faller in the FTSE 100 though. It said its first quarter results should be in line with the market's expectations. Xstrata is the h
Read moreLondon midday: No broker boost for FTSE 100
16th Apr 2010 12:08
Buoyancy among stocks that have received favourable broker coverage has failed to lift Footsie. RBS is going well after BofA Merrill Lynch raised its target price on the bank to 65p from 45p, highlighting its potential to benefit from economic recovery. 'We still believe RBS is one of most geared
Read moreFTSE 250 movers: Aveva update fails to impress
16th Apr 2010 10:50
Aveva will be disappointed to with the market's reaction to today's update. The engineering data and IT systems provider said its full year results will be marginally ahead of market expectations, but the shares have fallen back. Shares in CSR, which specialises in chips used for wireless communic
Read moreLondon open: Footsie starts lower
16th Apr 2010 08:18
Footsie has fallen back in early dealings Friday morning but is so far still trading above the 5,800 point mark. Temporary power and heating specialist Aggreko is the worst performer after it said it performed in line with expectations in the first quarter of the year, with healthy revenue rises fr
Read moreLondon pre-open: Footsie to slip back
16th Apr 2010 07:35
Footsie is expected to slip back towards the 5,800 point mark in early dealings, continuing its uncertain performance this week. The Office of Fair Trading has fined Imperial Tobacco £112.3m after a seven-year investigation into alleged price fixing. Fund manager Hargreaves Lansdown said it has ha
Read moreHargreaves Lansdown hails 'best quarter ever'
16th Apr 2010 07:01
Fund manager Hargreaves Lansdown said it has had its best quarter ever with 'unprecedented' business volumes. Total assets under administration have grown by 12.8% from £15.6bn as at 31 December 2009 to £17.6bn as at 31 March 2010. Operating revenue for the third quarter was 20% higher than the co
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