London midday: Winning streak in danger
7th Sep 2010 12:02
Footsie ended the morning making its second attempt of the day at a rally but the blue-chip index remains in negative territory and in danger of seeing its winning streak in September come to an end. Expectations of a lower start on Wall Street as the US returns to work after the Labour Day holiday
Read moreLondon open: Rising streak under threat
7th Sep 2010 09:00
London's seven-day run of gains is under threat as blue chips are struggling in the early exchanges. Barclays is lower after it confirmed Bob Diamond, head of its investment banking arm, Barclays Capital, will take over as chief executive when John Varley steps down at the end of March next year. D
Read moreMicro Focus nabs ex-Morse boss
7th Sep 2010 07:45
Legacy software specialist Micro Focus has appointed former Morse chief executive Mike Phillips as its new Chief Financial Officer. Phillips replaces Nick Bray, who left in June to go to a competitor, and starts at Micro Focus on 4 October. He moved up to the chief executive role at Morse after s
Read moreTechMARK movers: Micro Focus struggles for growth
11th Aug 2010 15:05
Shares in legacy software provider Micro Focus International have slumped on the back of poor software licence sales in the first quarter. Revenues in three months to July 2010 rose by 40%, but sales were flat stripping out last year's acquisitions of Borland and Compuware. Micro Focus is suggesti
Read moreSector movers: Nestor in rude health after bid approach
11th Aug 2010 14:30
Most sectors are in the red today, but Nestor is leading healthcare equipment and services higher. The healthcare group admitted today it has rejected an unsolicited bid approach worth 90p a share in cash from the owners of the AA and Saga. The possible offer, which valued the business at £102m, w
Read moreFTSE 250 movers: Micro Focus falls after sluggish sales
11th Aug 2010 14:29
Legacy software specialist Micro Focus is sharply lower after it slashed its sales forecasts for this year following a sluggish first quarter and slow licence sales, though earnings guidance is unchanged. Ukraine iron ore producer Ferrexpo is lower amid a backdrop of lower metals prices. Don't rea
Read moreLondon afternoon: No sign of rally yet
11th Aug 2010 13:57
Expectations of a weak start on Wall Street have put the kybosh on any hopes of a recovery in London over the lunch time session, after leading shares endured a tough morning in the wake of downbeat statements from the Federal Reserve (last night) and the Bank of England (this morning). The Bank of
Read moreLondon midday: BoE adds to gloom
11th Aug 2010 12:08
London has lurched lower still after the Bank of England lowered its forecasts for economic growth in 2011 while raising inflation expectations. The Bank is now predicting economic growth of 2.5% in 2011, down from a previous forecast of 3.4%. He predicted that inflation would remain above the 2%
Read moreBroker tips: InterContinental, Vodafone, Micro Focus
11th Aug 2010 11:34
The share price slide on Tuesday in the wake of interim results that were ahead of expectations provides an excellent opportunity to buy shares in hotels group InterContinental Hotels Group (IHG), according to Panmure Gordon. The broker has increased its full year earnings per share estimate by 10.
Read moreBroker snap: Micro Focus running out of steam
11th Aug 2010 10:57
Business software group Micro Focus saw its shares slump by almost a third on Wednesday morning as the company announced that some large deals have been delayed and that organic revenue growth this year would therefore be lower than previously expected. KBC Peel Hunt notes that the shares had hard
Read moreLondon open: Gloomy start for blue chips
11th Aug 2010 08:55
London has made a gloomy start after last night's disappointing assessment of the US economy by Federal Reserve policymakers. The Bank of England is expected to add to the gloom today if it cuts its estimate of UK growth as is being widely forecast. Only five blue chips are making headway this mo
Read moreMicro Focus hit by lack of licence sales
11th Aug 2010 07:32
Legacy software specialist Micro Focus has slashed its sales forecasts for this year after a sluggish first quarter and slow licence sales, though earnings guidance is unchanged. Revenues in three months to July rose by 40%, but sales were flat stripping out last year's acquisitions of Borland and
Read moreWednesday preview: Standard Life, Thomas Cook, UK unemployment
10th Aug 2010 16:28
Standard Life resumes the results season for insurers after a two-day lull at the start of the week. Panmure Gordon is forecasting interim operating profit on a European Embedded Value (EEV) basis of £293m, down 16% year on year, "reflecting a tough comparative that included a positive experience va
Read moreMARKET TALK: Growth Looking Scarce;Focus On Strong UK Mid-Caps
28th Jul 2010 14:26
1326 GMT [Dow Jones] Growth is set to become increasingly scarce in Western economies warns Ralph Brook-Fox, manager of Ignis UK Focus Fund. Says, "Any UK company that can demonstrate strong secular growth above the cyclical recovery will be well rewarded in its rating by the market." Suggests five
Read moreSophos Appoints Former Micro Focus CFO As New CFO
27th Jul 2010 10:11
LONDON (Dow Jones)--IT security and data protection firm Sophos PLC (SOPH.LN) said Tuesday it has appointed Micro Focus International PLC's (MCRO.LN) former chief financial officer as its new CFO, effective late August. Nick Bray's surprise departure from Micro Focus in June unnerved investors,
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