London midday: Stocks hold near highs as traders monitor Greek situation
10th Jul 2015 11:44
(ShareCast News) - Stocks were holding near their best levels of the day as traders waited for the Greek parliament to vote on their Prime Minister's bailout proposal and monitored the news flow to see if Germany would allow debt-relief. There was uncertainty early on Friday over how European leader
Read moreCredit Suisse lifts InterContinental price target after HK hotel sale
10th Jul 2015 11:34
Credit Suisse raised its price target on InterContinental Hotels Group to 2,820p from 2,700p following the company's disposal of its five-star Hong Kong hotel for $938m. The bank updated its estimates to reflect the disposal and capture an assumed $1.5bn special dividend to be paid in the second qua
Read moreInterContinental Hong Kong hotel sale price "very acceptable", says Numis
10th Jul 2015 11:24
The $938m achieved by InterContinental Hotels Group on the sale of its five-star Hong Kong hotel "looks like a very acceptable price" said Numis Securities, adding that it was around $150m above its expectations. "We estimate that the disposal will be around 3%-4% dilutive to FY16 earnings per share
Read moreLondon open: Stocks track gains in Europe, China
10th Jul 2015 08:50
The relief rally in British stocks gathered pace after Greece made concessions to its creditors overnight in exchange for a £38.56bn (€53.5bn) rescue programme, although some analysts and government officials were cautious. As of 08:55 the Footsie was up by 51.89 points to 6,633.59. The second tier
Read moreIntercontinental sells Hong Kong hotel for $938m cash, special dividend expected
10th Jul 2015 07:08
(ShareCast News) - Intercontinental Hotels has sold its five-star Hong Kong hotel for US$938m cash to a consortium of investors, but will retain a 37-year management contract on the building, with three 10-year extension rights. Coming after the sales of its London, New York and Paris hotels, this i
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreInterContinental Hotels completes Paris hotel sale
20th May 2015 15:15
InterContinental Hotels Group has completed the sale of InterContinental Paris - Le Grand to Constellation Hotels France Grand SA. The deal, worth approximately €330m (£236.4m) in cash, will see the affiliate of Constellation Hotels Holding Limited assume control of the facility, although FTSE 100-l
Read moreLondon close: Stocks surge following elections
8th May 2015 17:00
London stocks racked up healthy gains on Friday, as investors welcomed news that Prime Minister David Cameron's Conservative Party would remain in power for a second term. The FTSE 100 closed up 2.32% at 7,046.82, with banks, utility stocks and housebuilders providing the biggest support. Lloyds Ba
Read moreLondon midday: Stocks power ahead as market cheers surprise Tory election win
8th May 2015 11:23
London stocks posted healthy gains on Friday as investors welcomed news that Prime Minister David Cameron's Conservative party is on track for a second term in power. The FTSE 100 was up 1.7% at 7,004.23 by midday, with banks, utility stocks and housebuilders pacing the advance. Lloyds Banking Grou
Read moreLondon open: Stocks surge as Conservatives look set for election win
8th May 2015 09:04
London stocks made strong gains on Friday as investors cheered signs that Prime Minister David Cameron's Conservative Party is on track to govern Britain for another five years. The FTSE 100 was up 1.5% at 6,989.60 in early trade, with banks and utility stocks leading the charge. Lloyds Banking Gro
Read moreInterContinental Hotels Group revenue growth hit by stronger dollar
8th May 2015 07:45
InterContinental Hotels Group registered a sizable increase in revenues at the start of the year, although much of that was undone was by a strengthening US dollar. In the first three months of 2015 revenues per available room (RevPAR), the key metric for the industry, raced ahead at a 5.9% pace in
Read moreFTSE 100 movers: Weir rockets on quarterly beat, Antofagasta hit by production cuts
29th Apr 2015 13:19
Industrial engineer Weir Group topped the risers after delivering a better-than-expected first quarter from minerals, its largest division. However, the company did say it was "taking further action to support profitability" in its oil and gas division amid tough conditions. Shares of Intercontinent
Read moreLondon close: Chinese stimulus lifts stocks despite ongoing Greek uncertainty
20th Apr 2015 16:35
Stocks rebounded on Monday after as measures by policymakers in China to boost bank lending helped to repair sentiment after recent losses, despite ongoing uncertainty in Greece. London's FTSE 100 finished the session 0.82% higher at 7,052.13, with mining stocks leading the rise on increased hopes f
Read moreLondon midday: Chinese stimulus boosts miners, IHG gains
20th Apr 2015 11:26
Stimulus measures to spur bank lending in China gave UK stock markets a boost on Monday morning, with mining shares leading the charge after a sell-off the previous session. London's FTSE 100 was up 0.7% at 7,041.74 by midday, pulling back after hitting a high of 7,067.84 early on. The index droppe
Read moreLondon close: UK stocks surge 1.1% to two-week high on M&A, Greece
9th Apr 2015 17:15
London's FTSE 100 bounced to finish above the psychological 7,000 level for the first time in over two weeks on Thursday, helped by easing concerns about Greece and continued M&A speculation. The Footsie closed 77.95 points higher (+1.12%) at 7,015.36 with Burberry and Intercontinental Hotels Group
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