TechMARK movers: Renovo on course for trial results in 2011
15th Dec 2009 15:29
Shares in scar reduction treatments developer Renovo have fallen even though it has reaffirmed that the main treatment Juvista is on course to complete its first European phase III trial, covering scar revision surgery, in the first half of 2011. Renovo reported a loss of £20.2m in the year to Sep
Read moreLondon close: Afternoon rally fizzles out
9th Dec 2009 17:13
The Chancellor's pre-Budget Report speech had little effect on UK equities, with much of its content widely expected while others subscribed to the view espoused by the Shadow Chancellor that it was more of a 'pre-election report' than a pre-Budget report. As expected, banks that pay excessive bonu
Read moreLondon afternoon: Cautious response to Pre-Budget
9th Dec 2009 14:27
London's blue chips have reacted cautiously to the chancellor's pre-Budget speech even though the big numbers were better than feared. The government's borrowing forecast for this year came in ahead of market predictions with a slight upward revison to £178bn, while Alistair Darling stuck to his fo
Read moreBroker tips: Lloyds, British Land, Micro Focus
9th Dec 2009 12:59
UBS has adjusted its price target for Lloyds Banking Group to account for its ex-rights status. The Swiss broker said forecasts are largely unchanged since its last look at the end of November, which followed confirmation of the cash call and enhanced capital note (ECN) conversion terms. It keeps
Read moreLondon midday: Shares hold steady
9th Dec 2009 12:06
With less than half an hour to go before the Chancellor's pre-Budget Report speech, leading equities are back to square one, as investors wait to see what the Chancellor has in store. Speculation is he'll announce the biggest squeeze in public spending for a generation, with only schools, hospital
Read moreBroker snap: Stunning Micro Focus
9th Dec 2009 11:10
Legacy software specialist Micro Focus has been flagging for some months now how well its recent acquisitions have been performing but this morning's better than expected contribution from Borland and Compuware still caught the market a little by surprise. 'Micro Focus has performed stunningly in t
Read moreLondon open: Better than expected
9th Dec 2009 08:52
London has opened stronger than expected despite three-figure losses in the US overnight and a trickle of bad news on Greece and Dubai. UK investors also have Chancellor Alistair Darling's pre-Budget speech to look forward to at lunchtime. Speculation is he'll announce the biggest squeeze in publi
Read moreAcquisitions boost MicroFocus
9th Dec 2009 07:43
A better than expected contribution from recent acquisitions Borland and Compuware enable legacy software specialist Micro Focus to lift underlying interim profits by 35% and predict a further improvement in profitability over the rest of the year. Total group revenue rose by 46% to $198.4m (2008:
Read moreThursday tips round-up: International Power, Micro Focus, Balfour Beatty
12th Nov 2009 06:04
International Power is one of those companies that is a staple of the FTSE100 and yet somehow manages to be largely unknown. Yesterday's bullish statement sent the shares up sharply. Possible new projects in North Africa, Asia and the Gulf, make for strong growth prospects when world economies pick
Read moreLondon close: Profit taking trims gains
11th Nov 2009 17:12
Better than expected unemployment figures and some relatively upbeat comments from Bank of England governor Mervyn King propelled Footsie to a new intra-day high for 2009 in the morning session, but stocks came off the top in the afternoon session. The UK unemployment rate, as measured by the Inter
Read moreTechMARK movers: Micro Focus pleases investors
11th Nov 2009 15:11
Software company Micro Focus International reported better than expected first half trading and this led to sharp upgrades in forecasts. Micro Focus expects to publish an increase in revenues from $136m to $195m in the six months to October 2009. This growth was helped by acquisitions but organic
Read moreLondon afternoon: Share prices froth over
11th Nov 2009 14:12
Share prices are coming off the top, though Footsie remains comfortably in positive territory thanks to strong demand for miners and insurers. Miners are wanted as metal prices pick up following news that Chinese industrial output rose to a 19-month high in October. BHP Billiton, Kazakhmys, Rio Ti
Read moreFTSE 250 movers: Micro Focus lifts forecasts, shares jump
11th Nov 2009 14:01
Legacy software specialist Micro Focus is the best performing mid-cap stock by some way after saying its two recent acquisitions, Borland and Compuware, have performed much better than expected and the upping its forecasts for both interim sales and underlying profits. After a "strong close to th
Read moreLondon midday: Footsie hits intra-day high for 2009
11th Nov 2009 12:15
The Footsie is hovering around its high for the year of 5300, after better than expected UK unemployment figures. Sentiment was little affected by Bank of England governor Mervyn King saying he thinks inflation will rise above the 2% target set by the government as the impact of quantitative easi
Read moreBroker tips: Sainsbury, Micro Focus, International Power
11th Nov 2009 11:19
The renaissance of supermarket group Sainsbury continues apace after forecast busting interim profits were announced on Wednesday morning, but Seymour Pierce is maintaining a cautious stance on the group's prospects. 'Although the interim results came in at the top end of expectations there will be
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