London afternoon: Shares off the top
22nd Sep 2009 14:07
Shares drifted lower over the lunchtime session but are still up on the day, helped in no small part by the strength of miners, which are rising in line with firmer metals prices. Rio Tinto is wanted after it sold off another chunk of Alcan. The heavily indebted miner sold Alcan Composites, part of
Read moreBroker tips: Carnival, Tullow, JD Sports
22nd Sep 2009 12:47
Bank of America Merrill Lynch has added Carnival to its 'Europe 1' list of preferred stocks ahead of the cruise ship operator's third quarter results due out Tuesday afternoon. The cruise company has been hard hit by various issues such as the credit crunch and swine flu in the last couple of years
Read moreLondon midday: Rio's assets sale continues
22nd Sep 2009 12:10
Miners continue to lead the market higher as investors return to the market after yesterday's pause for breath. Rio Tinto is wanted after it sold off another chunk of Alcan. The heavily indebted miner sold Alcan Composites, part of the Alcan Engineered Products division, to Swiss firm Schweiter Tec
Read moreBroker snap: JD valuation undervalues Bank brand
22nd Sep 2009 11:21
Broker Charles Stanley has initiated coverage of teenager sports fashion company JD Sports Fashion with earnings forecasts that are about 5% ahead of market consensus. 'Our different from consensus view is predicated on the success we think that will start to emerge at Bank, JD's biggest branded fa
Read moreLondon open: Bright start for Footsie
22nd Sep 2009 08:46
London's blue chips have made good progress this morning, buoyed by Wall St clawing back some of Monday's early losses in late trading in the US. It is resource stocks that lead the way again. Tullow Oil has recovered from the profit taking of the past two days, while Lonmin and Fresnillo are leadi
Read moreLondon pre-open: Buyers to return
22nd Sep 2009 07:38
Last night's brave effort on Wall Street should help London claw back some of Monday's losses, according to early indications. The FTSE 100 is predicted to rise about 20 points early on after the Dow Jones narrowed its deficit to 41 points, helped by strength among heavyweight tech issues. Over he
Read moreJD Sports improves profits
22nd Sep 2009 07:03
Trainers and tracksuits group JD Sports has raised both first half profits and like for like sales, but warns the outcome for the year will depend on crucial Christmas trade. Profit before tax for the 26 weeks ended 1 August rose 11% to £10.1m on revenue up 8.4% to £324m. Excluding a net exception
Read moreTuesday preview: JD Sports, Ricardo Group, Holidaybreak
21st Sep 2009 16:00
Teenager clothes specialist JD Sports releases interim results on Tuesday where like for like sales growth is likely to be positive but the news on the gross margin may be less so. The share price of engine consultant Ricardo Group has recovered strongly since the company issued a mild profits warn
Read moreWeek Ahead: Mitchells & Butlers, Game Group, sportswear retailers
18th Sep 2009 11:27
There was speculation earlier this month that the Bank of England's Monetary Policy Committee (MPC) would cut its deposit rate to zero or below to discourage banks from hoarding cash. In the event, the MPC opted for the status quo but since the rate announcement comments from Mervyn King, governor
Read moreBroker tips: Game, general retailers, Safestore
1st Sep 2009 13:24
Charles Stanley has reiterated its cautious stance on the UK general retail sector and warned against reading too much into what are likely to be good fourth quarter year-on-year sales figures, as most retailers will be going up against soft comparatives. DIY retailer Kingfisher is the highest scor
Read moreBroker snap: General retailers not cheap
1st Sep 2009 13:07
Charles Stanley has reiterated its cautious stance on the UK general retail sector and warned against reading too much into what are likely to be good fourth quarter year-on-year sales figures, as most retailers will be going up against soft comparatives. 'We would caution against any extrapolation
Read moreLondon close: Footsie finishes just down
4th Aug 2009 16:33
London staged a late rally but still finished just in the red as financials weighed and the US started in tepid fashion. Asia-focused bank Standard Chartered was the biggest faller of the day after saying it is to raise £1bn through a placing. It posted solid first half figures with profits up by 1
Read moreLondon close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreBroker tips: Defence and aero stocks, JD Sports, Greene King
8th Jun 2009 13:01
Goldman Sachs has been reviewing the aerospace and defence sector and foresees a tough time from 2011 onwards for companies with a large exposure to the UK and US defence markets, on expectations of a reduction in military operations in Iraq and Afghanistan. Goldman Sachs has downgraded defence sto
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