London close: Late rally leaves Footsie little changed
19th Aug 2009 17:14
Share prices of London's leading stocks closed mixed, thanks to a late rally, after the market had spent most of the day in retreat. ENRC was the day's star performer despite reporting a 63% slide in pre-tax profits for the first half of 2009. The dividend has been cut in half but investors were e
Read moreLondon afternoon: Lloyds provides some cheer
19th Aug 2009 14:14
The bears are back in command today with the blue-chip index in the red, though the size of the decline has been exacerbated by a number of index constituents trading in ex-dividend form. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British Americ
Read moreBroker tips: Lloyds Banking, ENRC, Lookers
19th Aug 2009 12:46
Long suffering shareholders of Lloyds Banking Group can look forward to the bank resuming dividend payments next year, analysts at Royal Bank of Scotland (RBS) predict. RBS believes its fellow part-nationalised bank is on the recovery trail and its finances should be sufficiently restored to pay a
Read moreLondon midday: Shares stable at lower levels
19th Aug 2009 11:54
Equities are back on the slide again today with little hope of a boost from the other side of the Atlantic where the Dow Jones 30 is expected to open around 80 points lower. ENRC is a bright spot despite reporting a 63% slide in pre-tax profits for the first half of 2009. The dividend has been cut
Read moreBroker snap: KBC likes the look of Lookers
19th Aug 2009 11:31
Interim pre-tax profits from car dealer Lookers came in ahead of KBC Peel Hunt's expectations, prompting the broker to upgrade its full-year profit forecast by 43%. Lookers reported half-year profit before tax of £17.6m, £1.3m higher than KBC had been expecting. The broker is now forecasting full-y
Read moreLondon open: Ex-divs weigh
19th Aug 2009 08:20
Footsie is in the red following yesterday's good gains and despite decent performance on Wall Street overnight. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British American Tobacco when Jan du Plessis steps down from the position on 1 November. B
Read moreLookers axes divi as profit, sales fall
19th Aug 2009 07:34
Car dealer Lookers revealed a 34% decline in half year pre-tax profit but said it is well positioned to trade through a challenging car market. Lookers, which raised £80.7m in equity earlier this year, said pre-tax profit fell to £8.6m in the six months ended 30 June 2009 from £13m the year before.
Read moreWednesday preview: BoE minutes provide focus
18th Aug 2009 17:27
All eyes will be on the Bank of England midweek as economists study minutes from the Monetary Policy Committee's meeting earlier this month. They'll be keen for more information on why the central bank made its surprise decision to extend its quantitative easing programme by £50bn. In an otherwise
Read moreWeek Ahead: Lookers, Pendragon, BoE minutes
14th Aug 2009 12:23
The results season is showing signs of tailing off, with a distinct lack of heavy hitters due to declare figures next week. Car dealers will be in focus with both Lookers and Pendragon announcing results. Lookers declares interim results on the 19th and broker Panmure Gordon is expecting a strong
Read moreLondon close: Stocks finish in the red
26th Jun 2009 16:25
London's leading shares finished in the red by close as Wall Street remained in negative territory. Insurer were down with Friends Provident, Prudential and Legal & General lower while miners Eurasian Natural Resources, Rio Tinto and Vedanta were also down. The banks are in a healthier condition
Read moreLookers to raise £80m
26th Jun 2009 13:20
Car dealer Lookers has announced a placing and open offer to raise about £80.7m to help ease its debt position, which has deteriorated amid a severe downturn in car demand. The firm will issue just over 200m shares at 40p each, a 19% discount to the closing price yesterday. Shares in the firm rose
Read moreFriday preview: Lookers, Pendragon
25th Jun 2009 17:24
A quiet end to the week is in store on the corporate news front, though by coincidence two car dealers, Lookers and Pendragon both have annual general meetings, at which updates may be forthcoming on how the government's car scrappage scheme is affecting sales. Both companies have had to revise the
Read moreLookers profit plummets, no divi
1st Jun 2009 08:33
Continued difficulties in the car market wiped over 40% off full year profit at Lookers but it said cost cutting action in 2008 leaves the group well placed to outperform the new car market. "The year was the most challenging for the motor retail sector in recent history with the overall new car m
Read moreLookers good performance maintained
19th May 2009 14:52
Car dealer Lookers said its encouraging performance has been maintained in recent weeks as it continues to trade ahead of budget and to be highly cash generative. The group also said it is in advanced talks with its finance providers to ensure that its financing arrangements remain appropriate for
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