London pre-open: Buyers expected to return
16th Mar 2011 07:37
It looks like prices have fallen low enough to attract buyers back into the market with traders saying the Footsie index is expected to open higher, possibly by as much as 30 points. There has been a brace of executive departures in the leisure industry with the chief executives of hotels group Int
Read moreIntercontinental Hotels chief hands over reins
16th Mar 2011 07:12
InterContinental Hotels' chief executive Andrew Cosslett has shocked the Crowne Plaza and Holiday Inns chains owner by handing in his notice. Long-serving Cosslett will stand down on 30 June to be replaced by finance director Richard Solomons, who has been on the board since 2003. Solomons is also
Read moreLondon close: Late rally not enough
15th Feb 2011 16:44
Weakness in the US sent shares into the red and a slight rally in late trading failed to lift the FTSE 100 into positive territory. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Ex
Read moreBroker tips: British Land, IHG, Ashtead
15th Feb 2011 14:55
British Land continued to enjoy its period of continued outperformance at the end of 2010 driven by both income and capital growth, according to broker Panmure Gordon. The real estate investment trust reported a third quarter (Nov - Dec) pre-tax profit of £64m, slightly below the broker's estimate
Read moreLondon afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreFTSE 100 movers: Barclays leads risers
15th Feb 2011 13:57
There was a positive reaction to Barclays' results and Lloyds and RBS have risen in sympathy. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad debt charges tumbled everywhere except Spain. Real estate investment trust British Land grew underl
Read moreBroker snap: IHG 'in line', but no growth in 2011
15th Feb 2011 13:42
RBS keeps its 'hold' rating on InterContinental Hotels (IHG) after the Holiday Inns owner's 2010 revenues, earnings and profits being in line with expectations. "Everything at IHG was 'bang in line'", says analyst Jason Streets. The statement also included remarks about refreshing its Crowne Plaza
Read moreLondon midday: FTSE 100 little changed
15th Feb 2011 12:09
Shares are still seeking direction in spite of some notable movements in both directions. Barclays has moved ahead after results. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010
Read moreLondon open: Footsie marks time
15th Feb 2011 08:57
A limp performance in the US overnight and a tricky session in Asia this morning has resulted in London trading sideways in early dealings. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profi
Read moreLondon pre-open: Footsie to pull back
15th Feb 2011 07:39
A limp performance in the US overnight and a tricky session in Asia this morning mean London is likely to slip back about a dozen points in early trade Tuesday. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except
Read moreInterContinental Hotels has 'excellent' year
15th Feb 2011 07:06
InterContinental Hotels Group (IHG) grew profit by 24% in 2010, but the Holiday Inns operator predicts a $3m hit this year from the recent unrest in Egypt. Pre-tax profit before exceptional items jumped to $382m from $309m in 2009 on revenue up 6% at $1.63bn. Asia Pacific ramped up revenue by 24% t
Read moreTuesday preview: Barclays, InterContinental Hotels, inflation
14th Feb 2011 16:48
Results from Barclays on Tuesday are as likely to feature on the front pages as they are on the City pages. Market consensus is for profit before tax for 2010 of £5.54bn, up from 2009's £4.59bn. Revenue is slated to rise to £30.25bn from £29.95bn in 2009. "The key trends in the third quarter resu
Read moreFTSE 100 movers: Tech and miners prosper
1st Feb 2011 13:28
Technology and mining firms are dominating Footsie today. Search software provider Autonomy Corporation is the best performer even though there are concerns that its growth rate is slowing. Broker Peel Hunt is cautious about Autonomy's future and points out that there is a risk that 2011 forecasts
Read moreLondon close: FTSE 100 falls short despite recovery
31st Jan 2011 16:41
The FTSE 100 struggled all day to drag itself into the blue after an early slide, but remained slightly in negative territory at the close of trading. Travel companies were still friendless as investors fretted about civil unrest in the popular holiday destination of Egypt. Airline IAG, the former
Read moreLondon afternoon: Stocks back on an even keel
31st Jan 2011 14:46
Footsie is more or less back to square one after a lunchtime trading session which saw US oil giant Exxon announce better than expected fourth quarter figures. Travel companies are still friendless as investors fret about civil unrest in the popular holiday destination of Egypt. Airline IAG, the f
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