Broker snap: Modest increase to estimates at Intercontinental Hotels
11th May 2011 11:51
UBS makes modest upwards revisions to its forecasts for InterContinental Hotels after the Holiday Inn owner's first quarter earnings figures came in ahead of expectations. However, the broker keeps its 'sell' rating, highlighting just mid-single digit growth in RevPAR (revenue per available room,
Read moreWednesday tips round-up: IHG, Johnston Press, Ashtead
11th May 2011 06:44
InterContinental Hotels (IHG) was the toast of investors yesterday after it delivered a buoyant performance in the US, which accounts for about two-thirds of its profits. For the quarter just ended, IHG registered a 35% rise in operating profits to $112m. Total revenues jumped by 9% to $396m over th
Read moreLondon close: Stocks soar past 6,000 points
10th May 2011 16:36
The top share index put its recent jittery performance behind it as hopes the Greek debt situation could move towards a solution buoyed equities. There was also a raft of company updates for traders to digest. Pace plunged after the set-top box maker lowered its full-year profits guidance. The sha
Read moreFTSE 100 movers: Intecontinental's profits impress
10th May 2011 15:14
Holiday Inn owner Intercontinental Hotels Group is a high riser after first quarter pre-tax profits before exceptional items climbed to $96m, from $68m, on revenues that were up to $396m, from $362m. Not too far behind is Imperial Tobacco after earnings grew ahead of expectations in the first half
Read moreLondon midday: FTSE 100 back above 6,000
10th May 2011 12:06
Shares have moved past the 6,000 point mark with well-received company results helping to power the advance. But Pace has plunged after the set-top box maker lowered its full-year profits guidance. The shares are down nearly 40% after it said the board now expects operating profit to be in the rang
Read moreIntercontinental confident after strong quarter
10th May 2011 08:03
Intercontinental Hotels said it is confident for the full year after strong growth in the US, where it posted the biggest increase in the amount it makes for every available room since before the financial crisis, helped boost profits. Pre-tax profits before exceptional items at the Holiday Inns ow
Read moreTuesday preview: IMPs, IHG, N. Brown
9th May 2011 20:00
Cigarettes maker Imperial Tobacco (IMPs) has already tipped the wink about revenue growth for the first half of its financial year back in March, so focus will be on earnings and current trading when it releases its interim results. Earnings before interest, tax and amortisation are expected to ris
Read moreWeek Ahead: HSBC, IHG, IMPs
6th May 2011 12:50
Banking results season draws to a close with HSBC's first quarter update on Monday. The recent updates from Lloyds and Royal Bank of Scotland have not been short of detail and HSBC's statement may be similarly thorough, with updates on a number of key profit and loss items and balance sheet metrics
Read moreLondon close: Shares stage late rally
29th Mar 2011 16:38
The top share index staged a recovery ahead of the close, helped by Wall Street snapping out of a sluggish start. BP was a laggard. One of the oil giant's major shareholders, Standard Life, has told the oil giant to walk away from its troubled deal with Russian state oil company Rosneft. BP wants
Read moreLondon close: Flat day for FTSE 100
28th Mar 2011 17:03
A second attempt to spring into life evaporated ahead of the close on Monday and the top share index finished just a few points higher. Worries that Japanese carmakers may have to suspend production at their plants in China following the earthquake disruption have sent copper prices lower. As a res
Read moreFTSE 100 movers: ENRC doubles profit
23rd Mar 2011 16:02
Miners are on the rise and they have pushed the index higher. Underlying profits more than doubled last year at Kazakhstan-based mining giant ENRC with this year also expected to see production at "at effectively full available capacity", though it says rising costs are a worry. Record production i
Read moreLondon close: Market closes at low for the day
16th Mar 2011 17:07
An attempt at an early afternoon rally was short-lived and Footsie ended at its low for the day as investors continue to worry about the situation in Japan and sovereign debt in Europe after the downgrade of Portugal's debt by ratings agency Moody's. A sharp fall on Wall Street did not help sentime
Read moreLondon afternoon: Stocks pare losses
16th Mar 2011 14:06
Stocks pared losses over the lunch time session leaving the overall picture looking mixed, though the Footsie is slightly easier on balance, as investors continue to fret about the fall-out from the Japanese disaster, while sovereign debt concerns in Europe have been revived by the downgrade of Port
Read moreLondon midday: Market remains in the red
16th Mar 2011 11:50
The decline in the FTSE 100 appears to have bottomed out although there are continuing worries over the post-earthquake situation in Japan. A fire at the plant's fourth reactor sent radiation levels soaring and forced what few workers are left battling the potential disaster to retreat. Japan's Emp
Read moreLondon open: Footsie struggles as Japan news worsens
16th Mar 2011 08:54
Hopes of a rally after a bounce in Tokyo overnight have been dashed by more worrying news from the crippled Fukushima Dai-ichi nuclear plant. A fire at the plant's fourth reactor sent radiation levels soaring and forced what few workers are left battling the potential disaster to retreat. Japan's E
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