London close: Footsie ends on low note
15th May 2009 16:29
London closed lower after a lacklustre afternoon session with losses on properties and travel companies outweighing gains on miners. Shocking figures from property giant Land Securities on Wednesday still cast a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lowe
Read moreLondon afternoon: Travel companies trip Footsie
15th May 2009 14:10
London continues its gentle downward drift, with losses on properties and travel companies outweighing gains on miners. The market seems unlikely to get any sort of lift from Wall Street which is expected to open moderately weaker. Shocking figures from property giant Land Securities on Wednesday
Read moreFTSE 100 movers: Barclays lifted by iShares talk
15th May 2009 13:17
Barclays did well on hopes it may backtrack on a deal to sell its iShares unit to CVC, the private equity group, and instead offload its entire asset management division for £6.5bn. Barclays agreed last month to sell its iShares unit to CVC Capital Partners for $4.2bn, but is now reportedly consid
Read moreLondon midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreThursday tips round-up: FirstGroup, Compass, Land Securities
14th May 2009 06:02
Worsening trends in employment mean that FirstGroup's UK rail business is not out of the woods - but merely in a better position than the rail operations of unprotected peers, such as National Express. However, at 365p, up 5¾p, or less than nine times earnings, and yielding 5.1 per cent, First is wo
Read moreSector movers: Property updates worry investors
13th May 2009 14:43
Property groups are lower on a busy day for the sector. Brixton falls after it said it was still considering an equity raising as it sold four industrial units to AEW Europe for £70.25m. FTSE 100-listed Land Securities is also lower after it saw its net asset value slashed by two-thirds in 2008 in
Read moreFTSE 100 movers: Profit rise points Compass higher
13th May 2009 13:44
Caterer Compass is bucking the general downward trend after it reported a stronger-than-expected 41% rise in half-year profits thanks to new contract wins and cost cuts. Another food related stock, Unilever, whose range includes Pot Noodles and Persil, is boosted by a positive note from Charles Sta
Read moreLondon midday: Miners and properties slide
13th May 2009 12:04
After a moderately firmer start, London's leading shares quickly turned lower in the morning session, with mining shares and properties weighing heavily on the FTSE 100 index. Property giant Land Securities saw its net asset value slashed by two-thirds in 2008 in what it described as 'unprecedented
Read moreLondon pre-open: Modest lift seen at outset
13th May 2009 07:43
Encouraged by Wall Street's late rally yesterday London looks set to open on a positive note. Expectations are for the FTSE 100 to rise around 20 points at the outset. Strong demand for its ‘basics’ range has helped supermarket giant J Sainsbury deliver better than expected full year profit. Underl
Read moreLand Securities NAV slumps by two thirds
13th May 2009 07:04
Property giant Land Securities saw its net asset value slashed by two-thirds in 2008 in what it described as 'unprecedented market conditions.' Basic net asset value (NAV) per share slumped to 639p at the end of March 2009 from 1,862p a year earlier, while adjusted diluted NAV per share tumbled to
Read more