London open: Stocks dive as euro worries drag on
23rd May 2011 08:30
Continuing worries over the Eurozone debt crisis are casting a shadow over trading this morning, helping send stocks sharply lower. The spotlight has turned to Italy, with the ratings agency Standard & Poors changing its stance on the Mediterranean country to "negative" from "stable." The situatio
Read moreLondon pre-open: Stocks find reverse gear
23rd May 2011 07:39
Most of London's leading stocks are set to head south at the outset, with City traders expecting the top-shares index to dive 56 points from Friday's close of 5,948. Property group British Land reported continuing strong demand for its retail and office properties in spite of economic weakness as i
Read moreHICL buys PFI stakes from Kier
23rd May 2011 07:03
Infrastructure investment specialist HICL Infrastructure Company Limited has formed a new joint venture with long-time partner Kajima Partnerships to buy stakes in three Private Finance Initiative (PFI) projects. The joint venture, which will be 75% owned by HICL, is paying £17.2m for a 50% stake i
Read moreFTSE 250 movers: Mothercare rises after full-year results
18th May 2011 15:02
Mother, baby and child retailer Mothercare is among the best performers despite revealing a whopping 23.4% drop in annual profit as it announced the closure of more than a quarter of its UK stores. Nevertheless, the group said "We are on track to meet the international growth targets set out in Dece
Read moreKier confident amid private sector shift
18th May 2011 14:49
Housebuilder and contractor Kier Group said that it has secured £600m of new work since 1 January and that secured and probable work remains at levels in line with previous years. Recent contracts have been oriented towards the private sector in line with changing markets, the company said. New co
Read moreSunday tips round-up: Barratt Developments, RSA, Greene King...
27th Feb 2011 11:59
There is no doubt that the UK housing market is in trouble. However, an investment in Barratt Developments is not a play on a recovery in the market - it is based on increasing margins. Because the group snapped up land cheaply during the downturn, if prices stay flat then margins will increase. Al
Read moreFriday tips round-up: National Express, Croda, Ashmore...
25th Feb 2011 07:00
Finally, some good news for much-troubled National Express. From the doldrums of a scrapped rail franchise and sharp financial losses in 2009, the transport group posted annual results for 2010 yesterday showing a return to profit and a proposed final dividend of 6p per share. National Express has
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
Read moreRound-up: Kier, Balfour Beatty, Lidco...
24th Feb 2011 16:06
Growth in its construction arm helped housebuilder and contractor Kier lift half-year sales by 9% to £1.1bn. On a like for like basis, underlying profit before tax grew by 26% to £31.3m. Pre-tax profits came in at £29.6m, up from £16.7m with the interim dividend up by 8% at 20p. Balfour Beatty has
Read moreFTSE 250 movers: Oil groups rise on surging prices
24th Feb 2011 14:41
Oil groups EnQuest and Premier Oil are being helped higher by surging prices. Sportingbet is gaining 5% after amounts wagered in the quarter ended 31 January rose 10.6%. Sector peer Betfair rises in sympathy. Kier Group is wanted after a strong first half performance that saw revenues increase by
Read moreBroker tips: RBS, Kier, Croda
24th Feb 2011 12:46
There was nothing in the full year results from Royal Bank of Scotland (RBS) to persuade Nomura Securities to abandon its preference for the UK's other part-nationalised lender Lloyds Banking. The Japanese broker reiterated its 'reduce' recommendation on Royal Bank of Scotland after the figures cam
Read moreBroker snap: Kier reducing its government dependency
24th Feb 2011 12:33
Kier Group remains "steady and reliable", according to RBS, as the first half results confirm that the group's progress remains on track. Pre-tax profit for the six months ended 31 December was £31.3m, ahead of the broker's forecast of £30m, while the interim dividend of 20p per share was higher th
Read moreThursday tips round-up: Hampson, Johnson Matthey, Sportingbet
25th Nov 2010 06:41
For investors in Hampson Industries, take-off has been a long time coming. A year ago the maker of tools and composite structures for the aerospace industry agreed new terms with lenders on its £141 million debt, but this was not enough to head off a £59.5 million rights issue in February. The share
Read moreTuesday tips round-up: Tesco, Kier, Diploma...
23rd Nov 2010 06:43
Tesco has already gobbled up Britain. Now it's looking to repeat the trick in Asia and there's a good chance it will pull it off. The group has sought to whet investors' appetites by flying analysts out to the region to show them what it is up to, unveiling some fancy looking targets for the Chine
Read moreLondon close: Footsie rallies to narrow losses
12th Nov 2010 16:47
Footsie recovered from an early slump to close just a few points lower as well-received company updates nearly cancelled out losses in the mining sector. Miners were big fallers on disappointment with the outcome at the G20 meeting and the possibility of a currency free-for-all. Talk that China is
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