FTSE 250 movers: ITV well-received after Goldman note
27th May 2009 13:28
ITV is getting a good reception from investors today after Goldman Sachs upgraded the broadcaster to 'buy' from 'sell'. The US bank anticipates that forward advertising data will start to sow signs of levelling off over the second and third quarters. But Britvic is lacking a bit of fizz after priva
Read moreBroker tips: Water companies, ITV, Johnston Press, Topps Tiles
27th May 2009 12:27
Brokers are queuing up to reappraise the water companies ahead of the sector's results season, which starts this week. After Merrill Lynch weighed in yesterday with downgrades for Pennon and Northumbrian Water, Credit Suisse has dealt another blow to Pennon, chopping its price target from 667p to 6
Read moreLondon midday: Water companies keep Footsie afloat
27th May 2009 12:10
The Footsie is barely keeping its head above water, despite expectations of a moderately firm start on Wall Street. Water companies receive a boost ahead of the sector's results season which starts this week, with Credit Suisse claiming the sector's rally is set to continue. The Swiss bank has upgr
Read moreBroker snap: Media stocks lifted by Goldman note
27th May 2009 09:59
The downturn in the advertising market has made life hard for media companies but the sector received a boost today from Goldman Sachs, which has upgraded some of the major players. Broadcaster ITV is upgraded from 'sell' to 'buy' and added to the US bank's 'conviction buy' list. Goldman Sachs anti
Read moreLondon open: Modest gains for blue chips
27th May 2009 08:52
Footsie has made modest gains in early dealings after a strong showing on Wall Street last night. Mexico-based silver miner Fresnillo reports a strong start to 2009, with silver production up 9% on last year and stable gold production. Tullow Oil said the Awaka-1 exploration well, located in the
Read moreWednesday newspaper round-up: UK mulls Vauxhall bail-out
27th May 2009 06:12
Britain has intervened in the political manoeuvring over the future of Opel/Vauxhall, explicitly linking its financial support for the spin-off of General Motors' European operations to the future of two UK car plants in Luton and Ellesmere Port, reports the FT. Lord Mandelson, business secretary,
Read moreSunday's newspaper round-up: Lloyds, RBS, cash-calls
17th May 2009 13:31
Sir Victor Blank is believed to be close to stepping down as chairman of Lloyds Banking Group following pressure from investors furious about the bank's rescue of HBOS, says the Independent on Sunday. The City regulator has fired the opening shot in its inquiry into the crisis that engulfed Britain
Read moreLondon close: Late surge boosts blue chips
14th May 2009 16:48
A late surge helped Footsie close firmly in the blue after it traded within a narrow range for the bulk of the day. BT set a gloomy tone with worse than anticipated results and a dividend cut more severe than predicted, but other results got a more encouraging response. Insurer Prudential rose by
Read moreLondon afternoon: Footsie remains range-bound
14th May 2009 14:39
The FTSE 100 continues to trade within a narrow range, unable to move outside the 4,320 to 4,340 corridor since mid-morning. Though there has been a flood of company results, the mixed reaction to these is representative of the market's indecision today. The market was braced for bad news from BT b
Read moreLondon midday: Shares tread water
14th May 2009 11:54
It is back to square one for London's blue-chips, with gains on banks and miners cancelled out by losses on oils and telecoms giant BT. Banks suffered some profit taking earlier in the week but are bouncing back, helped by a research note on the sector from Morgan Stanley. The US investment bank ha
Read moreLondon open: BT in focus
14th May 2009 08:19
London's blue chips have opened lower with telecoms giant BT among the main fallers early on. BT suffered a 40% slump in pre-tax profit during the four quarter, forcing the firm to slash its dividend and announce plans to axe another 15,000 jobs. Fourth quarter pre-tax profit plunged to £429m from
Read moreITV ad revenue still falling
14th May 2009 07:45
Broadcaster ITV said today it expects net television advertising revenue to fall 16% this month and 18% in June, worse than the 15% reported for the first quarter. Despite this it still outperformed the total UK television advertising market, which fell an estimated 16% in the first three months of
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