London open: Banks spoil the party
5th May 2011 08:28
Stocks have rallied following yesterday's slide, but only slightly as the banking sector puts a dampener on the recovery. First quarter profits fell sharply at part-nationalised lender Lloyds Banking, as the bank took an impairment charge that was half a billion pounds larger than it was expecting,
Read moreLondon pre-open: Stocks set for rebound
5th May 2011 07:45
Stocks are set to rebound this morning against a backdrop of a hectic company results schedule. City traders expect the top share index to open around 24 points up from last night's close of 5,984. First quarter profits fell sharply at part-nationalised lender Lloyds Banking, as the bank took an im
Read moreRoyal Wedding boost for Morrisons
5th May 2011 07:08
Times have been tough in the 13 weeks to 1 May but Morrisons has been appealing to its customers' sense of patriotism, helping the supermarket to post growth ahead of the market. Total sales excluding fuel during the period were up by 4.2% from the same period a year ago, or by 2.5% on a like-for-l
Read moreThursday preview: BoE rate decision, Lloyds, Morrisons ...
4th May 2011 18:36
It is a big day for central banks on Thursday with the Bank of England and the European Central Bank both set to announce their interest rate decisions, though neither is expected to alter course ... yet. For the Bank of England's Monetary Policy Committee (MPC), the pressure to lift interest rates
Read moreSector movers: Next props up the retailers
4th May 2011 14:22
Retailers are in demand on the back of some sentiment-lifting first quarter results from Next. Fashion retailer Next saw shares leap after a strong first quarter, which saw sales increase more than expected. Total sales for the period excluding VAT were up by 5.2% from the same period the previous
Read moreFTSE 100 movers: Antofagasta tumbles after disappointing production figures
4th May 2011 13:51
Miner Antofagasta is leading the decline on Wednesday after reporting production figures that missed expectations. Group copper production for the first three months of the year came in at 129,800 tonnes, below forecasts of 158,800 tonnes, reflecting delays and lower-than-budgeted grades at two of i
Read moreWeek Ahead: Morrisons, Aberdeen Asset
29th Apr 2011 10:08
It's another shortened week in the UK, but with just as many - if not more - big companies producing results as in a full week. Supermarket group Morrison (Wm.) brings out a trading update on Thursday covering the three months to the beginning of May. Nomura predicts like for like sales growth, exc
Read moreTT Electronics chairman ups stake
15th Apr 2011 16:52
Sean Watson, chairman of TT Electronics, has upped his stake in the sensor and electronic component technology firm, buying a total of 12,550 shares for £29,221. In two separate transactions, Watson bought 7,550 shares at 166.5p per share and a further 10,000 at the same price, 5,000 of which were
Read moreWednesday newspaper round-up: North Sea oil, Opec, supermarkets
30th Mar 2011 06:06
The industry revolt over George Osborne's North Sea tax raid intensified yesterday as a leading oil company warned that £6.25bn of investment in two fields was now under threat. Norway's Statoil said that it was freezing investment decisions on the Mariner and Bressay fields as it reviewed its spend
Read moreLondon close: Miners push Footsie higher
23rd Mar 2011 17:19
Footsie ended the day close to its high point though that was largely due to the strength of mining stocks rather than a rapturous reception to the UK Budget. What did get a rapturous reception, at least for a while, was the news that the voting by the Monetary Policy Committee in March on interest
Read moreLondon afternoon: Housebuilders get Budget boost
23rd Mar 2011 15:00
It would appear that the UK Budget was far from a blockbuster as the market has reacted phlegmatically to the Chancellor's big day. The headline grabbing move was the commitment to effectively abolish National Insurance and push up income tax to compensate, but this will not take effect for some t
Read moreLondon midday: Back to square one
23rd Mar 2011 12:24
Footsie ended the morning more or less where it started it, as investors sit tight ahead of the Budget speech at 12:30pm. Resource stocks are in demand, with ENRC sitting atop a buoyant mining sector and Cairn leading oils higher. Underlying profits more than doubled last year at Kazakhstan-based
Read moreLondon open: Market unsettled as Sainbury's disappoints
23rd Mar 2011 09:00
Budget days are normally quiet, but supermarket giant J Sainsbury's slightly disappointing trading update has unsettled the mood. Caution ahead of today's speech by the Chancellor will also be keeping some on the sidelines. Supermarket giant Sainsbury's grew like for like sales by slightly less th
Read moreLondon close: Heavy losses despite recovery
15th Mar 2011 16:42
The FTSE 100 closed deep in the red Tuesday amid continuing worries over the situation in Japan, though losses were more than halved following a slide in the morning as nerves calmed. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation le
Read moreLondon afternoon: Stocks stabilise
15th Mar 2011 14:27
Leading shares remain deep in the red and the best that can be said is that the situation did not get materially worse over the lunch time session. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation leak and sparked panic selling on the
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