London close: Good day for blue chips
18th Nov 2010 16:36
Blue chips had a good day buoyed by the response to General Motor's record breaking US float and hopes for a deal in Ireland. Patrick Honohan, the head of Ireland's central bank, confirmed a loan is likely, with brokers suggesting it could be as much as €85bn, including €20bn to provide support for
Read moreLondon afternoon: Stocks extend gains
18th Nov 2010 15:28
A positive start by Wall Street has given renewed impetus to Footsie's rise this afternoon. As in Europe, stocks are rising in the US on the hope that a package to take the steam out of the Irish debt crisis is imminent. Patrick Honohan, the head of Ireland's central bank, has confirmed a loan is
Read moreFTSE 250 movers: QinetiQ on the attack
18th Nov 2010 13:50
Shares in QinetiQ rocketed as the high-tech defence group shrugged off the squeeze in defence spending to lift underlying interim profits and promise a return to dividends at the year-end. Bike and car parts retailer Halfords pedals forward after it reported a healthy rise in sales and profits in t
Read moreConfident Melrose predicts strong year
18th Nov 2010 11:10
Engineering conglomerate Melrose reckons the year will end strongly as news from its businesses overall is "most encouraging" and "marginally" ahead of expectations. "The recovery in our earlier cycle businesses is extending to some of our later cycle businesses," the firm said. "This, together wit
Read moreMelrose non-exec invests £126,000
2nd Nov 2010 16:37
Melrose non-executive director Miles Templeman has invested a further £126,000 in the engineer and industrial products supplier. Templeman bought 44,665 shares at 281.89p each. That takes his stake to 398,787 shares. The last time a Melrose director bought shares was back in March 2009. That was
Read moreMelrose trading ahead of expectations
13th May 2010 07:35
Engineering conglomerate Melrose said current trading is running ahead of management expectations for 2010 and it is confident in the outcome of the full year. The group said the positive trends in its businesses since March have continued with recent orders at Brush Turbogenerators underpinning co
Read moreBroker tips: M&S, DSG, Redrow...
26th Apr 2010 13:31
Boffins at Nomura predict further scope for upgrades across the UK general retail sector in 2010 as data continues to beat expectations. Despite ongoing concerns around the UK election and rising inflation, the bank's HCF model continues to indicate a positive expenditure outcome for the UK this ye
Read moreBroker snap: Cookson forecasts impress
26th Apr 2010 13:02
Cookson's forecast for a first half trading profit of £110m to £115m, 15% to 20% better than in the second half of 2009, got investors excited Monday. The new number is 16% ahead of Panmure Gordon's estimate of £98m, while revenue is now seen topping its forecast by 13%. Global steel production h
Read moreLondon midday: Footsie dips ahead of Budget
24th Mar 2010 11:49
Footsie has turned down ahead of the Budget as investors wait to see what new initiatives, if anything, chancellor Alistair Darling has to offer. While investors wait, there are plenty of company announcements to digest. Travel companies are doing well. TUI Travel noted a 'significant recovery in
Read moreThursday tips round-up: Inchcape, Interserve, Melrose
11th Mar 2010 06:05
Joint broker Investec ? which is not pencilling-in a dividend for the foreseeable future ? believes that Inchcape's pre-tax profits will rise to £165 million this year, putting the shares on a multiple of just over 11 times. That feels a little rich for a motor retailer. Even if you applied it to In
Read moreSector movers: Melrose lifts engineering sector
10th Mar 2010 14:25
Strong results from Melrose help lift the industrial engineering sector higher. Engineering conglomerate Melrose said the acquisition of FKI is working out better than expected for thee, helping it lift headline profits rise by almost two-thirds in 2009. Revenue advanced to £1,298.5m from £895.3m
Read moreLondon afternoon: Stocks trade sideways
10th Mar 2010 14:25
The market traded sideways over the lunchtime session allowing the blue-chip index to retain its tenuous position above the 6500 level. Mining stocks are doing their bit to bolster the Footsie as metal prices rise following a sharp increase in imports into China in February. Banks are also doing th
Read moreLondon midday: FTSE 250 stocks shine
10th Mar 2010 12:01
The Footsie is clinging on to positive territory, not helped by the likes of Admiral, BATS, Serco, Schroders, Standard Chartered and TUI Travel trading in ex-dividend form today. The main points of interest this morning were outside of the FTSE 100 index, however. FTSE 250 constituent Tullett Prebo
Read moreCash rolling in at Melrose
10th Mar 2010 07:26
The acquisition of FKI is working out better than expected for engineering conglomerate Melrose, which saw headline profits rise by almost two-thirds in 2009. Revenue in 2009 advanced to £1,298.5m from £895.3m in 2008, while headline profit before tax jumped to £118.6m from £73.1m the year before.
Read moreLondon close: Carnival provides lift
24th Feb 2010 16:55
Footsie closed slightly higher, with Carnival giving London's blue chips a lift after announcing that it is going to increase the price of its cruises. Carnival was leading the FTSE 100 higher after the cruise operator said it will be lifting ticket prices following strong reservations activity for
Read more