London midday: Deep in the red
17th Aug 2009 11:59
London's benchmark index is posting deep losses as miners weigh on the market on worries that the recent gains may have been overdone. Concerns grow about the health of the US economy following Friday's dismal consumer sentiment data. Asian markets were down overnight, while US futures also point l
Read moreMorgan Sindall lifted by contract win
17th Aug 2009 08:30
Construction and regeneration group Morgan Sindall said its affordable housing division has been confirmed as a preferred partners for a £35m regeneration scheme in Skipton, North Yorkshire. The scheme involves the construction of 220 new homes, of which 88 have been designated for affordable rent
Read moreTuesday tips round-up: Rexam, Morgan Sindall, Southern Cross
11th Aug 2009 06:42
Just as can maker Rexam has suffered disproportionately on the way down, it will benefit more than its rivals when demand picks up. Further, should Rexam maintain its commitment to an 8p final dividend and raise its payout thereafter, the shares will still yield 5%. At 231½p, or eight times 2010 ea
Read moreUpdate: Mixed prospects for Morgan Sindall
10th Aug 2009 17:24
Construction and regeneration group Morgan Sindall reported a mixed outlook on future prospects as it posted a sharp drop in profits at the interim stage. Profit before tax in the half year to June 30 fell to £20.5m from £28.6m on revenue that slipped 8% to £1.14bn. The board maintained an interim
Read moreLondon close: Struggling Footsie finishes lower
10th Aug 2009 16:41
Footsie fought to lift itself into the blue all day but remained in the red as banks and miners weigh on the index. Lloyds Banking, which is apparently mulling a £15bn fundraising to keep down the cost of insuring toxic debt with the Government, fell. Reports in the weekend press suggest the Treasu
Read moreLondon afternoon: Stocks still softer
10th Aug 2009 15:01
The Footsie continues to trade lower, but in a narrow range as weaker banks and miners easily offset gains among the insurers. Lloyds Banking is apparently mulling a £15bn fundraising to keep down the cost of insuring toxic debt with the Government. Reports in the weekend press suggest the Treasury
Read moreBroker tips: Road-builders, BAE, Morgan Sindall
10th Aug 2009 14:04
The government has been axing road schemes as it seeks to save money and more cuts are likely to follow, said Charles Stanley, which expects these cuts to have serious implications for road-building firms. Companies likely to feel the biggest impact include WS Atkins, Mouchel, Scott Wilson and RPS,
Read moreBroker snap: Morgan Sindall still in good shape
10th Aug 2009 14:02
KBC Peel Hunt thinks Morgan Sindall is still in good shape following this morning's interim results and keeps its 'hold' recommendation on the construction and regeneration group. Pre-tax profits fell by 28% from the previous year to £20.5m and the outlook remains challenging, but with net cash of
Read moreTechnical Analysis Snap: Morgan Sindall sinks on lower profits
10th Aug 2009 13:29
The construction sector has taken quite a hit in the last 18 months, falling from peaks of 6,500 in late 2007 to hit a low of 2,344 in October last year. It has enjoyed better fortunes since then, at one point pulling back 38% of those declines in January. Since then it has drifted sideways albeit
Read moreLondon midday: Banks drift drags Footsie lower
10th Aug 2009 12:03
Banks are leading the Footsie lower amid talk that Lloyds is mulling a fund raising. Weekend reports said Lloyds Banking may raise up to £15bn from the stock market to keep down the cost of insuring toxic debt with the Government. The Treasury is understood to back the bank's tentative plans to ra
Read moreLondon open: Footsie heads lower
10th Aug 2009 08:50
London has opened lower with reports of Lloyds looking at a big cash call overshadowing bid talks restarting between Friends Provident and Resolution. Life insurer Friends Provident says it is now is close to agreeing a takeover by Resolution after the terms of the original offer were improved. In
Read moreLondon pre-open: Weak start predicted
10th Aug 2009 07:44
London looks set to make a slightly weaker start in what is likely to be a quiet day for both corporate and economic news. Life insurer Friends Provident is close to agreeing a takeover by Resolution after the terms of the original offer were improved sufficiently for talks to start between the two
Read moreMorgan Sindall profits slide 28%
10th Aug 2009 07:03
Construction and regeneration group Morgan Sindall said first half results were in line with expectations despite posting a 28% slide in profits due to the challenging conditions in the period. Profit before tax fell to £20.5m from £28.6m on revenue that slipped 8% to £1.14bn. The group said impro
Read moreBroker snap: Sell Morgan Sindall before results, Panmure says
7th Aug 2009 11:36
Panmure Gordon is advising investors to take profits on Morgan Sindall ahead of Monday's first half results, citing the construction and regeneration group's strong run recently. Key issues to look out for in the numbers are public sector spending pressures, housing market trends and utility-relate
Read moreLondon close: Footsie continues winning week
16th Jul 2009 16:36
London made it four positive sessions in a row Thursday as some better banks and strength at Petrofac offset largely weaker miners and a big drop at Autonomy. There was little help from Wall Street though, which was trading flat when the City shut up shop. The FTSE 100 has made up about 260 points
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