London open: Footsie trades sideways as BA stalls
22nd May 2009 08:34
London's top stocks have opened flat, as expected, with good gains from the miners undermined by a grim trading update from British Airways. The airline said it will focus on cutting capacity and keeping a lid on costs after weak economic conditions and high fuel costs sent the airline tumbling in
Read moreLondon pre-open: Flat start ahead
22nd May 2009 07:37
London's top stocks are expected to open largely flat ahead of GDP data due later today with traders predicting a small 2 point gain in early dealings. British Airways said it will focus on cutting capacity and keeping a lid on costs after weak economic conditions and high fuel costs sent the airli
Read moreMarston's sees 'modest' improvement in trading
22nd May 2009 07:01
Pub group and real ale brewer Marston's reported a 21% drop in half-year pre-tax profit but said it is encouraged by the modest improvement in trading since mid-February. Profit before tax and exceptional items fell to £27.7m in the 26 weeks ended 4 April, in line with expectations, compared with £
Read moreFriday preview: British Airways, Marston's
21st May 2009 18:08
Expectations are not high for British Airways' full-year results, particularly after its putative merger partner, Iberia, announced worse than feared results earlier this month. Expectations are for a full-year loss of £296m on sales of £9,078m, which would represent one of the worst performances
Read moreBroker tips: Experian, pub groups, Debenhams
20th May 2009 12:40
Credit checking group Experian's own credit-worthiness is looking better after the company surprised the market with the amount of cash it generated in the second half of its financial year. Broker Charles Stanley said the pre-tax profits of $843m were ahead of market consensus of $805m, but 'the b
Read moreBroker snap: Enterprise Inns preferred by Credit Suisse
20th May 2009 11:56
Credit Suisse has been running the rule over pub groups as the sector has returned to favour, in line with the market's enthusiasm for the recovery prospects of highly geared companies. The Swiss bank reckons that the pub groups are likely to see further declines in rental income and property value
Read moreLondon close: Footsie takes a dive
13th May 2009 16:31
Footsie gave up its recent indecisive spell to dive into the red after an unexpected fall in US retail sales tempered recent talk that we are on the cusp of an economic recovery. Financial shares were the worst performers in London, not helped by disappointing trading updates from Legal & General a
Read moreLondon afternoon: US retail sales data jolts London
13th May 2009 14:28
Poor US retail sales figures prompted a quickening in the decline of blue-chip prices in London. US retail sales had been expected to rise in April but unexpectedly fell, bringing in to doubt hopes that the US economy is on the mend. Financial shares are the worst performers in London, not helped b
Read moreBroker tips: Unilever, Pubcos, Johnston Press
13th May 2009 13:08
Food and household products giant Unilever was one of the best performing blue-chips on Wednesday morning, helped by a positive note from Charles Stanley. The broker said it is upgrading its 'long-held negative recommendation' on the Anglo-Dutch company following the group's first quarter results a
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 moreBroker snap: MPs' report a bitter blow for pubcos
13th May 2009 12:00
A Parliamentary report calling for the reform of the business model adopted by pub companies has sent the sector into a tailspin. The report has called on the Competition Commission to investigate the tied arrangement - referred to in the trade as 'wet rent' - that requires pubs to buy beer and oth
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