London afternoon: US slump spreads to Footsie
11th Aug 2009 15:37
Footsie has plunged further into the red in line with a poor performance on Wall Street. While there was little US company news, stocks were hit by analyst downgrades on companies such as Yum Brands, which owns fast food chains such as Pizza Hut, and mobile phone group Sprint Nextel. Banks are wea
Read moreLondon midday: Footsie struggles as banks dip
11th Aug 2009 12:07
Footsie has slipped into the red as results and takeover can't offset another day of weakness in the banking sector. Banks are weak after the FT is reported that Lloyds Banking's tentative plans to raise an estimated £15bn-£20bn in a rights issue to reduce its reliance on the government face a wall
Read moreLondon open: Solid start for blue chips
11th Aug 2009 08:26
London's blue chips have opened stronger than expected higher on a couple of decent results and the confirmation of Friends Provident's and Resolution's tie-up. Clive Cowdery's insurance investment vehicle Resolution will be catapulted into the FTSE 100 index after life insurer Friends Provident ac
Read moreLondon close: Stocks pull out of tailspin
14th Jul 2009 17:09
Indecision on Wall Street prompted a spell of profit taking in the UK in the middle of the afternoon session which threatened to wipe out the morning's gains, but London's blue-chips rallied at the death to keep the Footsie in the blue. Mining stocks were the best performers with silver miner Fresn
Read moreLondon afternoon: Footsie climbs despite weak retailers
14th Jul 2009 14:10
London's leading shares continue to edge higher, with sentiment given a boost in the afternoon by expectations of a moderately firm start on Wall Street and a strong set of second quarter results from US bank Goldman Sachs, which announced record revenues. Mobile phone giant Vodafone, the third lar
Read moreLondon midday: Early gains are consolidated
14th Jul 2009 12:11
The Footsie is trading sideways, holding on to gains after a bright start. Inflation data was much as expected, with the inflation rate falling below the Bank of England's 2% target for the first time since September 2007 last month. The Office for National Statistics (ONS) revealed a drop in consu
Read moreSector movers: Engineering stocks climb after updates
14th Jul 2009 10:37
Positive trading updates from industrial engineering stocks help lift the sector higher. Engineering conglomerate Melrose is trading in line with expectations for the full year and said cash generation during the first six months of 2009 has been 'excellent'. Metals group Delta said it enjoyed a
Read moreFTSE 250 movers: Aquarius shines on acquisition approval
14th Jul 2009 10:35
Shares in Aquarius Platinum are going well after it announced its acquisition of fellow platinum miner Ridge was approved by 99.99% of Aquarius shareholders. Engineering conglomerate Melrose climbs after saying it is trading in line with expectations for the full year and said cash generation durin
Read moreLondon open: Early gains for Footsie
14th Jul 2009 08:41
London's blue chips have made early gains after the hundred-point plus surge on Wall St overnight. Miners are leading the way with Fresnillo, Lonmin, Xstrata and Rio Tinto all going well. Defensive stalwarts are the weak spots with Diageo, Imperial Tobacco and Reckitt Benckiser all lower. Enginee
Read moreLondon pre-open: Bright start expected
14th Jul 2009 07:40
Footsie is expected to rise after last night's good showing on Wall Street. Engineering conglomerate Melrose is trading in line with expectations for the full year and said cash generation during the first six months of 2009 has been 'excellent'. Net debt has reduced by £127m since 31 December 2008
Read moreMelrose on track, cash generation 'excellent'
14th Jul 2009 07:01
Engineering conglomerate Melrose is trading in line with expectations for the full year and said cash generation during the first six months of 2009 has been 'excellent'. Net debt has reduced by £127m since 31 December 2008 to £416m as at 30 June 2009, with net debt to EBITDA leverage further reduc
Read moreFTSE 250: Cheery update supports Carillion
8th Jul 2009 13:46
Shares in Carillion are going well after the support services group said it remains on track to deliver 'materially enhanced' earnings for the full year after good performances across its divisions. Home shopping company N Brown, yesterday said turnover increased by 5.1% in the 18 weeks to July 200
Read moreLondon pre-open: Early fall expected
8th Jul 2009 07:39
Footsie is expected to slip in early dealings after a three-digit fall on Wall Street last night. Tullow Oil expects annual production to average 58,000 barrels of oil equivalent per day (boepd) following a 16% drop in output during the first half. The company produced 59,000 barrels a day in the f
Read moreMelrose sells FKI Logistex for $40m
28th May 2009 08:25
Engineering conglomerate Melrose announced that it has sold FKI Logistex, the holding company of the Logistex North America business, to Intelligrated for $40m in cash. The sale is expected to complete in June 2009, Melrose said in a company statement. Melrose chairman Christopher Miller said, "Th
Read moreFTSE 250 movers: New chief exec sweetens Tate & Lyle
19th May 2009 11:55
Tate & Lyle is up more than 10% after the sugar firm appointed Javid Ahmed, currently executive vice president at detergent group Reckitt Benckiser, as chief executive. Oil and gas firm Melrose Resources rises after raising its production forecast for 2009 by around 5% But Dana Petroleum falls bac
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