London midday: Stocks edge higher despite Ocado slump
27th Jun 2011 12:14
Stocks are clinging onto gains overall on a quiet start to the week, but Ocado, the grocery deliverer, has slumped following negative broker coverage after its half year results. Ocado said the only limit on its growth is capacity as it moved into profit in the half year to 15 May and announced a
Read moreLondon open: Ocado and Salamander updates impress
27th Jun 2011 08:26
Shares have edged higher in early dealings with some company news updates whetting investor appetite. Grocery deliverer Ocado is flying off the shelf after it said the only limit on its growth is capacity as it moved into profit in the half year to 15 May and announced a deal to supply products f
Read moreLondon pre-open: Week to start on a dull note
27th Jun 2011 07:45
London is set to start the week heading in its now familiar southerly direction, with City traders predicting the blue-chip index will open around 20 points down from Friday's close of 5,698. Grocery deliverer Ocado said the only limit on its growth is capacity as it moved into profit in the half y
Read moreHSBC in Saudi joint venture
27th Jun 2011 07:05
Global banking titan HSBC said its Saudi wholesale and investment banking business is to merge with a subsidiary of the Saudi British Bank (SABB). SABB will have a 51% stake in the new venture, which is to be called HSBC Saudi Arabia, but HSBC will retain full management control of the business. T
Read moreFTSE 100 movers: Man Group leads the recovery
22nd Jun 2011 15:33
Hedge fund manager Man Group is the high riser of the day, pulling the Footsie back into positive territory, after some kind words from Credit Suisse. Man is "moving in the right direction", according to the Swiss brokerage, who upgraded the firm from a 'neutral' to an 'outperform' rating. "Clearly
Read moreLondon close: Miners dominate fallers as global worries continue
16th Jun 2011 16:45
Global growth worries dampened the markets on Thursday as all but a few constituents on the FTSE 100 finished in the red. While the Footsie edged higher in the late afternoon, it still closed under the 5,700 level, a level not seen since mid-March. FTSE 100 closed down 44 at 5,699. A lack of clarit
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreFTSE 100 movers: Glenore dismisses rumours, shares drop
15th Jun 2011 14:08
Glencore is the worst performing stock on the blue chip index as of Wednesday afternoon. In a brief statement in response to press speculation, the commodities trader stated that it is not actively considering an offer for Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The offi
Read moreBroker tips: HSBC, London & Stamford, Game
15th Jun 2011 12:55
UBS cuts its target price for HSBC by 7%, from 708p to 655p, based on expectations of lower long-term growth for the global banking giant. "We believe implicit in its goals are healthy EPS [earnings per share] growth and faster dividend growth. However, with news likely on these in March 2013, we h
Read moreBroker snap: Lower long-term growth at HSBC, says UBS
15th Jun 2011 12:01
UBS cuts its target price for HSBC by 7%, from 708p to 655p, based on expectations of lower long-term growth for the global banking giant. "We believe implicit in its goals are healthy EPS [earnings per share] growth and faster dividend growth. However, with news likely on these in March 2013, we h
Read moreBritish banks face ring-fence between retail and investment arms
15th Jun 2011 10:36
British banks are to be forced to ring-fence their retail and investment operations. The idea is to protect high street bank customers losing their savings if investment bankers suffer heavy losses, as they did during the financial crisis of 2008. The Chancellor of the Exchequer, George Osborne, i
Read moreLondon close: Stocks hold on to gains
27th May 2011 16:46
Stocks held on to gains going into a long weekend, as Wall Street opened up higher. After a sharp rise in early trading, the Footsie maintained its level around the 5,930-40 mark for the rest of the day, helped by strong showings from the miners and the banks. Just seven stocks finished in the red.
Read moreLondon midday: Banks provide a boost
27th May 2011 12:05
The Footsie is around 1% higher at the midday point, holding on to early gains. The banking sector is performing well today after positive comments from Citigroup. The US bank upped its rating on European banks to 'overweight', saying that the recent decline in the share prices provides a good entr
Read moreSector movers: Burberry lower ahead of results
25th May 2011 15:52
Burberry, the luxury fashion brand, is dragging the personal goods sector lower. The group is due to report its final results on Thursday, and revealed in April that it expects profits for the year to 31 March to be at the top end of forecasts, after a strong final quarter. Shares have risen by ar
Read moreAviva motoring
17th May 2011 07:15
Insurance giant Aviva highlighted the performance of its UK general insurance sales, which topped the billion pounds mark, as it made a solid start to the year. Net written premiums in the first quarter of 2011 were up 9% on the corresponding quarter and up 14% on the preceding quarter at £2.69bn.
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