London afternoon: Shares stuck in the red
2nd Jun 2009 14:40
Shares remain in the red after failing to find inspiration on Wall Street, which opened sluggishly. Bank Barclays is nursing a double-digit percentage decline after news of the impending sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC, said that the sale did not represen
Read moreBroker tips: Kingfisher, life assurance stocks, Umeco
2nd Jun 2009 13:30
The market has responded positively to first quarter figures from Kingfisher but broker Charles Stanley reckons the jury is still out on the prospects of the DIY retailer, despite upgrading its recommendation on the stock. 'A further weather related seasonal bounce is unlikely in 2009 and managemen
Read moreBroker snap: Kingfisher figures surprise
2nd Jun 2009 13:14
The market has responded positively to first quarter figures from Kingfisher but broker Charles Stanley reckons the jury is still out on the prospects of the DIY retailer, despite upgrading its recommendation on the stock. 'A further weather related seasonal bounce is unlikely in 2009 and managemen
Read moreLondon midday: Profit takers move in
2nd Jun 2009 11:55
Profit taking was the theme of the morning as investors reduced equity exposure after yesterday's sharp rise while Barclays tumbled on the revelation that Abu Dhabi's International Petroleum Investment Company (IPIC) is to bank profits on its Barclays stake. Barclays is nursing a double-digit perce
Read moreFTSE 100 movers: Kingfisher boosted by bullish update
2nd Jun 2009 11:21
Kingfisher leads Footsie higher after an upbeat first quarter update this morning. Broker Charles Stanley reckons the jury is still out on the prospects of the DIY retailer, despite upgrading its recommendation on the stock to hold from reduce. 'A further weather related seasonal bounce is unlike
Read moreLondon open: Barclays divestment sinks Footsie
2nd Jun 2009 08:33
London has opened lower in the wake of the decision by Abu Dhabi's International Petroleum Investment Company to bank profits on its Barclays stake. Barclays is down by 13%. Khadem Al Qubaisi, managing director of IPIC, adding that the sale did not represent a lack of faith in Barclays, its managem
Read moreLondon pre-open: Sale of Barclays stake dampens mood
2nd Jun 2009 07:41
Despite the strong showing by Wall Street overnight London is set to open lower in the wake of the decision by the International Petroleum Investment Company (IPIC) to bank profits on its Barclays stake. City sources expect the FTSE 100 will open around 16 points lower than the previous close of 4,5
Read moreKingfisher upbeat as B&Q doubles profit
2nd Jun 2009 07:08
Doubled profits at B&Q helped Kingfisher's first quarter profit jump by over 40%, with the retailer also hopeful on prospects for the rest of the year. Total sales in the three months to end April rose by 9.6% to £2.64bn with like-for-like sales down by 1.7%. Sales rose by 2.4% on a constant curren
Read moreLondon close: Footsie limps back into positive territory
27th May 2009 17:02
The movements of London's blue-chip index looked as if they were being directed by the grand old Duke of York today, with the index starting the day on the up, then heading lower over the lunchtime session before finishing roughly where it started. Sterling moved above $1.60 for the first time sin
Read moreLondon afternoon: Footsie drifts into the red
27th May 2009 14:58
London's leading shares are mixed in quiet trading. Hopes of receiving a lift from a strong start on Wall Street have been dashed, with the US market trading indecisively as London as traders await the release of US existing home sales data. Water companies receive a boost ahead of the sector's res
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 moreTechnical Analysis: Retailers advance slips back
14th May 2009 08:18
The retail sector has enjoyed a good move higher since the beginning of the year, over 500 points; however it does appear to have run into some selling interest above the 1,475 level, which was a significant resistance level, as indicated last month. Even though the sector managed to get above the
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