London pre-open: Slight advance expected
11th Jun 2009 07:47
Footsie is expected to edge up in early dealings, building on gains yesterday. Home Retail Group said both Argos and Homebase enjoyed better than expected sales in the quarter and grew market share. Total sales at Argos grew by 0.9% in the 13 weeks ended 30 May to £937m, while like-for-like sales d
Read moreHome Retail sales beat expectations
11th Jun 2009 07:01
Home Retail Group said both Argos and Homebase enjoyed better than expected sales in the quarter and grew market share. Total sales at Argos grew by 0.9% in the 13 weeks ended 30 May to £937m, while like-for-like sales declined by 2.8%. Good growth continued in consumer electronics as a whole, a
Read moreThursday preview: Home Retail, US retail sales
10th Jun 2009 17:06
The market is expecting good news from Homebase and Argos owner Home Retail Group on Thursday when it gives a trading update, after fellow DIY retailer Kingfisher produced surprisingly strong first quarter figures last week. Reading across from Kingfisher's results, which included doubled profit at
Read moreLondon close: Late rally not enough
2nd Jun 2009 16:46
A rally in the afternoon session was not enough to lift the Footsie out of negative territory, though second-liners were moderately firmer on balance. Bank Barclays was the day’s worst performing blue-chip after news of the sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC,
Read moreLondon afternoon: Shares stuck in the red
2nd Jun 2009 14:40
Shares remain in the red after failing to find inspiration on Wall Street, which opened sluggishly. Bank Barclays is nursing a double-digit percentage decline after news of the impending sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC, said that the sale did not represen
Read moreLondon midday: Profit takers move in
2nd Jun 2009 11:55
Profit taking was the theme of the morning as investors reduced equity exposure after yesterday's sharp rise while Barclays tumbled on the revelation that Abu Dhabi's International Petroleum Investment Company (IPIC) is to bank profits on its Barclays stake. Barclays is nursing a double-digit perce
Read moreLondon open: Barclays divestment sinks Footsie
2nd Jun 2009 08:33
London has opened lower in the wake of the decision by Abu Dhabi's International Petroleum Investment Company to bank profits on its Barclays stake. Barclays is down by 13%. Khadem Al Qubaisi, managing director of IPIC, adding that the sale did not represent a lack of faith in Barclays, its managem
Read moreLondon close: Footsie limps back into positive territory
27th May 2009 17:02
The movements of London's blue-chip index looked as if they were being directed by the grand old Duke of York today, with the index starting the day on the up, then heading lower over the lunchtime session before finishing roughly where it started. Sterling moved above $1.60 for the first time sin
Read moreLondon afternoon: Footsie drifts into the red
27th May 2009 14:58
London's leading shares are mixed in quiet trading. Hopes of receiving a lift from a strong start on Wall Street have been dashed, with the US market trading indecisively as London as traders await the release of US existing home sales data. Water companies receive a boost ahead of the sector's res
Read moreLondon midday: Water companies keep Footsie afloat
27th May 2009 12:10
The Footsie is barely keeping its head above water, despite expectations of a moderately firm start on Wall Street. Water companies receive a boost ahead of the sector's results season which starts this week, with Credit Suisse claiming the sector's rally is set to continue. The Swiss bank has upgr
Read moreTechnical Analysis: Retailers advance slips back
14th May 2009 08:18
The retail sector has enjoyed a good move higher since the beginning of the year, over 500 points; however it does appear to have run into some selling interest above the 1,475 level, which was a significant resistance level, as indicated last month. Even though the sector managed to get above the
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