London midday: Slide continues in quake aftermath
15th Mar 2011 12:09
The blue chip index continues to be hurt by the crisis in Japan as sentiment remains battered by fears of a nuclear disaster. While off its lows for the day so far, the FTSE 100 still remains over 2% under at around 5,640, a level not seen this year. A third explosion at the Fukushima Daiichi nucle
Read moreMBL up for sale
15th Mar 2011 08:36
MBL Group is looking for a buyer after its major customer, supermarket chain Morrisons, formally confirmed that it will terminate two supply agreements with the home entertainment products distributor on 14 September 2011. The company had been hoping to replace some of the lost business with Morris
Read moreSunday tips round-up: Ferrexpo, Wm Morrison, Kalahari...
13th Mar 2011 11:35
Ukraine's location and Ferrexpo's-strong transport links make the company the lowest-cost supplier of iron ore pellets to central and eastern Europe and the Middle East. In 2009, Ferrexpo's profits were $81.4m (£51m) but 2010 profits, to be announced in two weeks, are likely to be about $475m risi
Read moreBroker tips: Home Retail, Morrisons, F&C Asset Management
11th Mar 2011 12:50
With the performance at Argos weaker than expected, UBS stays cautious on the chain's owner, Home Retail Group (HRG), and downgrades estimates on the back of rising costs and weaker sales. Group pre-tax profit was around £10m below previous guidance for the year ended 26 February, primarily as a re
Read moreBroker snap: Morrison's space expansion impresses
11th Mar 2011 11:06
Morrison's full year numbers came in slightly ahead of expectations, and Nomura remains encouraged by the grocery retailer's growth strategy and buyback. The group has committed to buying back £1bn of shares over a two-year time frame to be financed by a new facility initially and by a bond issue l
Read moreLondon close: Footsie in full retreat
10th Mar 2011 16:57
Blue chips took a beating as investors focused on weak economic data from China and a downgrade for Spanish debt, rather than the Bank of England decision to keep its key lending rate at 0.5%. China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shut
Read moreFTSE 100 movers: Chinese trade deficit knocks miners
10th Mar 2011 15:18
News of China's trade deficit in February has knocked miners today. Fresnillo and ENRC are down the most in the sector. Concerns that ARM will be hit by poor sales of non-Apple tablet computers has knocked the share price. That part of the market accounts for less than 3% of ARM's revenues but i
Read moreLondon afternoon: Drugs firms provide some cheer
10th Mar 2011 14:47
Investors are finding plenty of reasons to be fearful but at least the Bank of England has stuck to the script and held its key lending rate at 0.5%. Otherwise, weak economic data from China and a downgrade for Spanish debt has put the situation in Libya into the shade today. China posted a trad
Read moreLondon midday: Shares stuck lower after Spanish downgrade
10th Mar 2011 12:19
The Bank of England's decision to keep rates at 0.5% was fully-expected and shares remain at stuck firmly in the red. Weak economic data from China and a downgrade for Spanish debt has put the situation in Libya into the shade today. China posted a trade deficit of $7.3bn in February compared wit
Read moreLondon open: Shares head lower after China surprise
10th Mar 2011 08:23
Surprisingly weak data out of China this morning has sent shares lower overall, while a stream of company updates has been given a mixed reception. China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shutdown of factories during the Chinese New Year
Read moreLondon pre-open: Selling seen on Chinese surprise
10th Mar 2011 07:41
Surprisingly weak data out of China this morning is set to knock London back below 5,900. China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shutdown of factories during the Chinese New Year holiday, and higher commodity prices. That looks like sl
Read moreMorrisons thrives in tough climate
10th Mar 2011 07:07
Supermarket Morrisons beat expectations in 2010 as its reputation for value had hard-pressed shoppers flocking to its stores. Underlying pre-tax profits totalled £874m for the year, ahead of estimates and up from £767m the previous year. Turnover climbed by 7% to £16.5bn. Morrisons says it will buy
Read moreThursday preview: BoE rate decision, Morrisons, Punch ...
9th Mar 2011 17:02
After European Central Bank (ECB) president Jean-Claude Trichet dropped heavy hints last week that the ECB is seriously contemplating a rise in interest rates for the eurozone, attention is keenly focused on Thursday's meeting of the UK rate-setting committee, where the hawks slowly seem to be gaini
Read moreLondon close: FTSE 100 falls short as turmoil continues
2nd Mar 2011 17:01
Shares fought valiantly to finish in the blue but fell short as worries over the turmoil in the Middle East continued to cast a shadow. Gold moved above $1,436 to a record high as traders sought safe investments amid turbulent times. The oil price stayed strong having risen above $100 in New York.
Read moreLondon afternoon: Footsie narrows deficit
2nd Mar 2011 15:45
An improvement on Wall Street has lifted the mood in London, although prices are still under pressure following a mixed reaction to today's batch of results. Asia-focused bank Standard Chartered posted profits bang in line with forecasts at $6.12bn for 2010, while this year got off to a flying sta
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