London pre-open: Hesitantly firmer
28th Jul 2009 07:44
Interest is focused on whether the Footsie can set a new record for consecutive gains today, and the initial signs are promising with the blue-chip index set to open up 8 points higher at 4,594. Oil giant BP announced second quarter replacement cost profits towards the top end of market expectation
Read moreInvestec to raise up to £90m
28th Jul 2009 07:14
South Africa-based bank Investec is to raise up to £90m through a placing of 22m new shares. The placing, representing 4.92% of the existing shares, will be used to fund the repurchase of existing debt at a discount to par. "The equity placement and subsequent repurchase of the debt is expected to
Read moreLondon close: Ten out of ten for Footsie
24th Jul 2009 17:13
The FTSE 100 index made it ten days of rises in a row, despite tailing off towards the close as investors looked to bank profits ahead of the week-end. It capped the best rally by the blue-chip index in five years. The rise was achieved despite dismal gross domestic product data. UK output contract
Read moreLondon afternoon: Financials find favour
24th Jul 2009 14:11
Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of
Read moreLondon midday: London shrugs off GDP shock
24th Jul 2009 11:54
After a shaky opening the market is moving steadily ahead, despite receiving a jolt from much worse than expected gross domestic product (GDP) figures. Output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Office for National Statistics' flash est
Read moreLondon open: Quiet start for Footsie
24th Jul 2009 08:46
Footsie has opened lower despite big gains overnight in the US and Asia and also a well-received trading update from Vodafone. Vodafone said revenue rose 9.3% in the quarter to June, helped by positive exchange rate movements and M&A activity. The group also said it is trading in line with manageme
Read moreLondon pre-open: Lower start expected
24th Jul 2009 07:39
Footsie is expected to give up some of strong recent gains in early dealings. Vodafone said revenue rose 9.3% in the quarter to June, helped by positive exchange rate movements and M&A activity. The group also said it is trading in line with management's outlook issued in May 2009 for the current f
Read moreInvestec 'steady', but income falls
24th Jul 2009 07:02
South African private bank Investec continues to navigate a "steady" course through the "uncertain" global environment, maintaining profitability across the group in the first quarter. Net operating income for the quarter to 30 June 2009, after expenses and minorities but before impairments on loan
Read moreFriday tips round-up: JJB Sports, Shanks, Investec
22nd May 2009 06:43
JJB Sports executive chairman, Sir David Jones, reckons the only thing now standing in the way of a return to health for JJB is if he and his team "cock it up". Sir David, who says it will take at least a year before JJB gets the right stock on its shelves, does not rule out a rights issue to furt
Read moreLondon close: Downgrade threat sinks Footsie
21st May 2009 16:35
Footsie closed with triple-digit fall as investors got spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general
Read moreLondon afternoon: Decline picks up pace
21st May 2009 14:36
The Footsie is nursing a triple-digit fall as investors bail out of equities, spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tigh
Read moreFTSE 250 movers: M&B down 10% as profits halve
21st May 2009 13:26
With profits down nearly half at the pub group Mitchells and Butlers, shares in the All Bar One owner are 10% lower. The firm also parted company with chief executive Tim Clarke today. Enterprise Inns, also a pub group but one that rents premises to tenants, is also lower. South African private ba
Read moreLondon midday: UK credit rating fear sparks sell-off
21st May 2009 12:00
Fears that the UK may lose its triple-A credit rating has given equities the jitters. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approac
Read moreInvestec profits take a hit
21st May 2009 08:22
South African private bank Investec saw full year profit tumble 22% following a sharp decline at its investment banking and private banking businesses. Operating profit before tax for the year ended 31 March 2009 fell to £396.8m from £508.7m a year ago, but slumped by 61% at the investment banking
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