London afternoon: Footsie in drift mode
7th Apr 2010 14:46
Footsie is becalmed after a weak start in the US and mixed news on the UK economy. Hedge fund giant Man remains the best performer. Last night the company disclosed that the net asset value of the AHL fund had risen 3.81% last week, prompting brokers Execution Nobel to rush out a 'buy' note, while
Read moreFTSE 250 movers: Marston's update cheers market
7th Apr 2010 14:14
Investors are queuing up to buy shares in Marston's following a trading update. Food sales from its managed pubs continued to lead growth in the half year to April 3 and the company, which owns the Pitcher & Piano chain, remains on track to meet expectations for the full year. Electrical parts dis
Read moreBroker tips: Cobham, Marston's, SIG
7th Apr 2010 12:50
Goldman Sachs is well aware that defence stocks will be vulnerable to spending cuts in coming years, but thinks that Cobham's focus on electronics will largely insulate it from this and raises its target price on the stock to 270p from 210p. "We believe large defence contractors are very vulnerable
Read moreBroker snap: Marston's looking forward to World Cup
7th Apr 2010 12:20
KBC Peel Hunt is holding off changing its earnings forecasts for brewing and pubs group Marston's ahead of the general election, but has hinted that upgrades could be on the way following Marston's trading update on Wednesday morning. "Further progress on the new build programme, and consistent und
Read moreLondon midday: Footsie flat on quiet morning
7th Apr 2010 12:04
Footsie has recovered its early losses but investors are struggling to find reasons push it any higher ahead of the US open. The share price of hedge fund giant Man has become a lot more volatile since it switched to more frequent updates of the performance of its flagship AHL fund. Last night th
Read moreLondon open: Blue chips drift lower
7th Apr 2010 08:51
Blue chips have opened lower following an indecisive performance in the US last night as concerns over the financial health of Greece resurfaced. Hedge fund giant Man is one of the few strong risers alongside property giants Land Securities and Hammerson. Mobile phone giant Vodafone is to launch a
Read moreFood sales drive Marston's growth
7th Apr 2010 07:02
Food sales from its managed pubs continued to lead growth at pub group and brewer Marston's in the half year to April 3. The company remains on track to meet expectations for the full year. At the company's managed pubs division, which includes the Pitcher & Piano chain, like-for-like sales were u
Read moreBP's new chairman buys big
3rd Feb 2010 16:18
BP's new chairman Carl-Henric Svanberg has put his faith in his new employer by investing £4.3m in the oil giant's shares. He took 750,000 shares through his company CHAS Aludden. It is his first purchase of shares in the company. Svanberg left Swedish mobile phone company Ericsson, where he had
Read moreFTSE 250 movers: Northumbrian gushes ahead
1st Feb 2010 15:51
Northumbrian Water has spurted higher on reports a Canadian pension fund is poised to bid. Fellow water group Pennon rises in sympathy. On the downside, pub groups are out of favour, with Marston's and Greene King among the fallers. FTSE 250 - Risers Northumbrian Water Group (NWG) 288.80p +11.68%
Read moreLondon close: Strong finish for FTSE 100
29th Jan 2010 16:38
Footsie gave up a recent weak spell to finish the week with good gains. Whitbread was the star performer. Following an investor day yesterday, Barclays Capital raised its price target on the Costa Coffee and Premier Inn owner to 1,700p from 1,600p. The broker thinks Whitbread will benefit from new
Read moreLondon midday: RBS unit sued for $8bn
29th Jan 2010 12:10
After a mid-morning dip blue-chips are on the rise again, though it is not the sort of advance that is likely to change investors' view that January was a month to forget. For once, the miners are not moving in lock step with each other. Sector giants Rio Tinto and BHP Billiton are firmer, while go
Read moreLondon open: Footsie tries to break losing streak
29th Jan 2010 08:48
London's blue chips have kicked on this morning despite the bad night for tech stocks on Wall Street. Huge numbers from Microsoft after the US market closed did restore some calm, while a rally by the miners has helped Footsie reverse its recent losing trend. Rio Tinto and Randgold lead the way. A
Read moreLondon pre-open: Small gains expected
29th Jan 2010 07:34
London's blue chips look set to open slightly higher after slumping near the close yesterday mirroring heavy falls in the US. Traders expect Footsie to open around 12 points higher on Friday morning. BP has appointed the former chief executive of mining giant BHP Billiton to the oil company's boar
Read moreMarston's reports 'robust' Christmas trading
29th Jan 2010 07:01
Pubs operator Marston's said trading over the 16 week period to 23 January has been encouraging notwithstanding the poor weather in January. The group said the more positive trading momentum it reported last month continued over the important Christmas and New Year festive period. In Marston's In
Read moreFriday preview: Marston's, Consumer Confidence
28th Jan 2010 16:50
After the high drama and board room power struggle at the annual general meeting (AGM) of pubs group Mitchells & Butlers on Thursday, the AGM of fellow pubs operator Marston's should be a lot more sedate. Not that the board of Marston's is a total stranger to controversy, with the company attractin
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