Petrofac director sells before demerger
12th Mar 2010 16:51
Michael Press has raised £1.4m from selling shares in oil services provider Petrofac ahead of the proposed demerger of its oil and gas assets. Press is the senior independent non-executive director on the board of Petrofac. He sold 120,000 shares at 1173.65p each. He retains 120,000 shares. This i
Read moreLondon close: Miners pull index lower
11th Mar 2010 17:02
London bounced off 5,600 despite a weak start on Wall Street but still closed in the red on a poor day for miners. Falling commodity prices and China inflation concerns prompted profit taking in Fresnillo, Randgold, Rio Tinto, ENRC, Kazakhmys, BHP Billiton and Xstrata. Speculation rose that Chin
Read moreLondon afternoon: Footsie holds above 5,600
11th Mar 2010 14:32
A steady decline continued through lunch, but London bounced off 5,600 despite a weak start on Wall Street as mining sector losses narrowed very slightly. Falling commodity prices have damaged miners Thursday. Investors decided to take profits in Fresnillo, Randgold, Rio Tinto, ENRC, Kazakhmys, BHP
Read moreLondon midday: Thos. Cook a ray of sunshine
11th Mar 2010 12:08
The Footsie has drifted into the red, weighed down by the weakness of mining stocks. Among the miners Fresnillo, Randgold Resources, Rio Tinto, ENRC, Kazakhmys, BHP Billiton and Xstrata are all on offer, as metals prices retreat. Smith & Nephew is under the weather after coming out on the wrong
Read moreLondon open: Miners lead decline
11th Mar 2010 08:17
London's main index is being dragged lower by mining stocks, though Old Mutual is the weakest link among the blue chips after it published full-year results this morning. South African insurer Old Mutual has resumed dividend payments following a better second half and is exploring the sale of US Li
Read moreLondon pre-open: Early retreat expected
11th Mar 2010 07:40
It looks like being a gloomy start to trade in London after last night's flat finish on Wall Street, wit stocks pulling back from yesterday's new 18-month high. Futures prices indicate an early 17-point drop for the FTSE 100. In company news, oil giant BP has beefed up its exploration operations w
Read moreWm Morrison profits jump on strong sales
11th Mar 2010 07:29
Supermarket group Wm Morrison saw a sharp jump in profits in the year to 31 January as its value offering continued to attract customers during tough times. Pre-tax profits climbed to £858m from £655m from the same period the previous year, including an exceptional credit of £91m arising from steps
Read moreThursday preview: Wm Morrison, Old Mutual, Clarkson...
10th Mar 2010 16:54
Supermarket chain Wm Morrison publishes figures without a chief executive as incoming CEO Dalton Philips isn't due to fill the hot seat until later this month. Instead, non-executive chairman Sir Ian Gibson and finance chief Richard Pennycook are expected to reveal underlying profit topped £760m la
Read moreWeek Ahead: New chief makes bow at Wm Morrison
5th Mar 2010 13:03
Another big week for results lies ahead, spread across a whole range of sectors. Wm Morrison's new chief executive Dalton Philips will only have been in his job for a day when the supermarket chain reports on Thursday. The figures should be good, with conditions for food retailers still helpful a
Read moreBroker tips: Morrisons, Reckitt, Ryanair
2nd Feb 2010 13:11
Morrisons has come a long way since it bought rival supermarket Safeway, said the broker JP Morgan as it lifted its rating on the stock to 'overweight' from 'neutral', upping the target price to 340p from 320p. It is now three times the size and its food sales density, a measure of how much is sold
Read moreBroker snap: JPM sees value in Morrisons
2nd Feb 2010 09:52
Morrisons has come a long way since it bought rival supermarket Safeway, said the broker JP Morgan as it lifted its rating on the stock to 'overweight' from 'neutral', upping the target price to 340p from 320p. It is now three times the size and its food sales density, a measure of how much is sold
Read moreTuesday newspaper round-up: Royal Bank of Scotland, Ryanair, Marks & Spencer
2nd Feb 2010 06:34
Bosses at the Royal Bank of Scotland have decided to press ahead with plans that allow top performers to effectively collect large cash bonuses despite a political and public backlash about bank pay. RBS wrote to investors yesterday detailing the bank's complicated pay deal under which bankers will
Read moreThursday newspaper round-up: HSBC, Barclays, Morrison
28th Jan 2010 05:58
Alistair Darling is to meet the chiefs of top British and American banks at a secret meeting in Davos tomorrow to hear their concerns about the introduction of tough new sanctions against the banking sector. The Times has learnt that the bosses of HSBC, Barclays and Standard Chartered, and top exec
Read moreDalton Philips takes the helm at Morrisons
27th Jan 2010 17:03
Supermarket Morrisons has found a replacement for chief executive Marc Bolland, who left in December to take the helm at Marks & Spencer. Dalton Philips, chief operating officer of Canadian retail giant Loblaw Philips, will take over as Morrisons chief exec on March 10. Philips has previously wor
Read moreLondon close: Footsie snaps 4-day losing streak
26th Jan 2010 16:25
Top stocks staged a recovery late afternoon as Wall Street reacted well to US consumer confidence at a 16-month high. Standard Chartered was a bright spot after Nomura said the recent share price fall represents a buying opportunity. The Japanese broker upgraded the Far East focused bank to 'buy'
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