London afternoon: Downbeat banks hold back Footsie
17th Dec 2010 15:05
Shares remain uncertain as the weekend approaches, with banks holding the leading share index back amid continuing eurozone worries. Ratings agency Moody's has slashed its credit rating on Ireland by five notches to Baa1 from Aa2 citing concerns over banking liabilities and economic prospects. Me
Read moreFTSE 100 movers: AstraZeneca disappointment
17th Dec 2010 12:58
AstraZeneca is the worst performer in the Footsie because the FDA has asked for more information about blood-thinning drug Brilinta. This represents a further delay is getting US approval for Brilinta. Gloomy comments by the Bank of England about potential bad debt provisions hit Royal Bank of Sco
Read moreLondon midday: Stocks retreat
17th Dec 2010 12:49
The leading index broke above 5,900 for a short time, but now finds itself stuck in the red as AstraZeneca and the banks offset gains in the property sector. The Bank of England has warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields c
Read moreLondon open: Flat start for blue chips
17th Dec 2010 08:43
London has started slowly despite the late gains on Wall Street overnight with some gloomy comments from the Bank of England unsettling the mood. The Bank warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields continued to rise. Lloyds an
Read moreLand Securities non-exec starts building stake
14th Dec 2010 16:11
Simon Palley, a non-executive director at Land Securities, has taken his first tranche of shares in the shopping centre and office developer. He took 16,250 shares at 664.8p each, paying nearly £110,000. Palley joined the board of Land Securities, whose portfolio includes the Lakeside Retail Park
Read moreMulberry boss raises £5.5m from disposal
10th Dec 2010 16:22
Godfrey Davis, the chairman and chief executive of Mulberry, has raised £5.5m from the sale of shares. Davis sold 650,000 shares at 850p each. Shares in fashion products designer Mulberry have risen by more than 500% in the past 12 months. This week, broker finnCap has substantially increased it
Read moreLondon close: Strong gains near the close
25th Nov 2010 16:48
Footsie closed the day healthily in the blue as investors got excited about shopping centre owners and other property groups. Capital Shopping Centres Group (CSC), the shopping centre arm of what used to be Liberty International, raced ahead after it put pen to paper to purchase Manchester's Traffo
Read moreFTSE 100 movers: Capital buys Trafford Centre
25th Nov 2010 13:07
Capital Shopping Centres, the shopping centre arm of what used to be Liberty International, has raced ahead after it agreed the purchase Manchester's Trafford Centre in a deal worth £1.6bn. Capital is paying for the purchase from Peel in shares and convertible bonds. It also intends to raise cash t
Read moreBroker tips: British Land, Autonomy, JD Sports
16th Nov 2010 12:56
Despite trimming full year net asset value estimates KBC Peel Hunt retains a 'buy' for real estate group British Land. The property group's valuation increase in the first half was 2.6%, driven principally by office lettings with only a "modest contribution from yield compression". The 0.7 percent
Read moreBroker snap: Not much to separate two property giants
16th Nov 2010 12:28
Despite trimming full year net asset value estimates KBC Peel Hunt retains a 'buy' for real estate group British Land. The property group's valuation increase in the first half was 2.6%, driven principally by office lettings with only a "modest contribution from yield compression". The 0.7 percent
Read moreLand Secs to refurbish RBS Bishopsgate building
12th Nov 2010 07:21
Bluebutton Properties, the joint venture of Land Securities and Blackstone Group is to refurbish the RBS building in Bishopsgate, near London's Liverpool Street Station. Refurbishment of the 142,000 square foot building is expected to start in summer 2011 with a total cost of around £35m. Propert
Read moreLondon close: Footsie little changed
11th Nov 2010 16:44
Footsie closed little changed, which wasn't a bad result given a triple-digit loss for the Dow when it opened. Ireland was the story breaking as the trading day closed. Yields on benchmark Irish bonds rose to over 9% on reports that the EU might have step in and bail the country out. José Manuel
Read moreLondon afternoon: Financials drag index lower
11th Nov 2010 14:24
An early three-digit loss on Wall Street has the Footsie near its worst levels of the day, with financials the biggest fallers. Insurers Aviva, L&G and Standard Life are deep in the red, as are and RBS and Barclays on fears about Irish debt. Metal heavyweights are limiting the deficit though. Most
Read moreLondon midday: Mining advance fails to lift Footsie
11th Nov 2010 12:14
Big gains from mining companies have failed to haul Footsie into positive territory. The metals groups have marched higher from the off. Antofagasta, Kazakhmys, Xstrata, Fresnillo and Rio Tinto are in demand, as is oil major BP. Iron specialist Ferrexpo is the best performer. Cash is pouring in, o
Read moreLondon open: Small improvement for Footsie
11th Nov 2010 08:16
Blue chips started pretty much as expected, posting reasonable gains in response to yesterday's steady recovery on Wall Street, with commodity plays leading the pack. The Dow Jones was trading deep in the red when London shut up shop Wednesday, but shed nerves ahead of today's G20 meeting in Seoul
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