London afternoon: Footsie in drift mode
7th Apr 2010 14:46
Footsie is becalmed after a weak start in the US and mixed news on the UK economy. Hedge fund giant Man remains the best performer. Last night the company disclosed that the net asset value of the AHL fund had risen 3.81% last week, prompting brokers Execution Nobel to rush out a 'buy' note, while
Read moreSector movers: Broker upgrades lift retailers
7th Apr 2010 14:15
Retail stocks are flying off the shelves after some positive broker coverage. Kingfisher, the company behind the DIY retailer B&Q, is higher after Charles Stanley lifted its rating on the firm to 'accumulate' from 'hold'. 'We expect trading conditions to slowly improve in most markets as the globa
Read moreBroker tips: Kingfisher, Topps Tiles, Antofagasta
31st Mar 2010 13:20
UBS has retained its 'buy' recommendation for Kingfisher following the DIY retailer's recent full year results, though it has a few gripes about the dividend payment. 'Cash flow was again better than expected (YE net debt £250m) and this will fund higher capex [capital expenditure] in 10-11. The di
Read moreBroker snap: Kingfisher skimps on the divi
31st Mar 2010 13:19
UBS has retained its 'buy' recommendation for Kingfisher following the DIY retailer's recent full year results, though it has a few gripes about the dividend payment. 'Cash flow was again better than expected (YE net debt £250m) and this will fund higher capex [capital expenditure] in 10-11. The di
Read moreC&W Worldwide boss adds to holding
29th Mar 2010 16:31
Chief executive Jim Marsh has been buying shares in Cable & Wireless Worldwide following its demerger from Cable & Wireless Communications last week. He bought 43,500 shares at 94.27p each on Friday and 203,000 at 91.8p each on Monday. The total investment was just over £227,000. Marsh owns 651,
Read moreLondon close: Footsie breaks 5,700
25th Mar 2010 16:14
Shares kept moving north through the afternoon session as Wall Street's march towards 11,000 helped propel the Footsie past 5,700 to a fresh 21-month high. London's leading index, which hasn't closed this high since 18 June, was headed by Thomas Cook as investors booked into the travel company foll
Read moreFTSE 100 movers: Consumer businesses dominate
25th Mar 2010 15:01
Trading statements and results from retail and consumer businesses dominate the movers in the Footsie. Tour operator Thomas Cook reported a steady increase in bookings for the summer. "As the Winter 09/10 season draws to a close, trading has continued to show steady progress and Summer 10 bookin
Read moreLondon afternoon: Sunny outlook for Thomas Cook
25th Mar 2010 14:31
Footsie continued its upward trajectory over the lunchtime session, receiving a boost from the firm start on Wall Street. Tour operator Thomas Cook has moved to the top of the Footsie leaderboard after it echoed bullish comments from rival TUI about holiday bookings. The travel giant has reported
Read moreLondon midday: Footsie above 5,700
25th Mar 2010 12:06
Footsie has climbed above 5,700 for the first time since June 2008 as a string of updates from the retail sector are mostly well-received. Next leads the risers in the FTSE 100. Pre-tax profits soared in 2009 after the desperate consumer environment the fashion retailer feared at the beginning of t
Read moreLondon open: Footsie higher as retailers reassure
25th Mar 2010 08:44
Footsie has opened steadily as investors mull the implications of the Budget and a series of updates from the retail sector. Pre-tax profits soared at Next in 2009 after the desperate consumer environment the fashion retailer feared at the beginning of the year failed to materialise. Pre-tax profi
Read moreLondon pre-open: Flat start expected
25th Mar 2010 07:36
A flat start is expected from the Footsie as investors mull a series of updates from the retail sector. Pre-tax profits soared at Next in 2009 after the desperate consumer environment the fashion retailer feared at the beginning of the year failed to materialise. Pre-tax profits climbed to £505.3m
Read moreCash flows in as Kingfisher profits rebound
25th Mar 2010 07:05
B&Q and Castorama chain owner Kingfisher raised its dividend for the first time in five years as profits bounced back in 2009. Debt also tumbled and the group has now expanded its capital investment plans. Chief executive Ian Cheshire said that while the group remains cautious on the outlook for co
Read moreThursday preview: Next, Ted Baker, Kingfisher
24th Mar 2010 17:57
Fashion retailer Next is announcing full year figures on Thursday and, 'given the resilience of clothing sales in January (per BRC [British Retail Consortium] data) and the implicit expression of confidence from the decision to pursue a nondiscretionary buyback programme into close season,' JP Morga
Read moreLondon close: Further boost for shares
23rd Mar 2010 16:43
Rising commodity prices, US strength and some well-received company updates sent London to a fresh 21-month closing high Tuesday. The leading index hasn't finished up at this level since 19 June 2008 and is just one decent session away from breaking through 5,700. Cairn Energy was easily the most
Read moreLondon afternoon: Full steam ahead for Carnival
23rd Mar 2010 14:15
London's leading shares consolidated gains over the lunch-time trading session after notching up solid gains in the morning. Cairn Energy remains the stand-out performer among blue-chips by some distance. The oil group raised its forecast for peak production from its Indian assets by over a third t
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