FTSE 100 movers: Barclays sells mortgage assets
21st Mar 2011 13:44
Barclays has sold a portfolio of property loans to CreXus Investment Corp, a commercial mortgage REIT, for $586m in cash. CreXus needs to sell shares to raise money via a share issue in order to buy the 30 commercial real estate assets. CreXus is managed by a subsidiary of Annaly Capital Managemen
Read moreLondon midday: Stocks back on the climb
21st Mar 2011 12:23
Footsie finished the morning 10 points or so below its high for the day after regaining impetus following a mild spell of profit taking mid-morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm
Read moreLondon close: Strong finish to tough week
18th Mar 2011 16:52
Shares went into the weekend on the front foot after a week that was overshadowed by international events. Libya has acquiesced to the United Nations Security Council's resolution calling for an end to hostilities between government forces and the rebels. The United Nations Security Council voted
Read moreFTSE 100 movers: New price review regime pleases National Grid
18th Mar 2011 14:59
Power and gas grid operator National Grid is heading the gainers after OfGem published details of its new price review regime which the regulator said will provide strong incentives and penalties to encourage smarter, more sustainable networks. The price controls for Britain's gas and electricity
Read moreLondon afternoon: Oil guzzlers welcome Libyan ceasefire
18th Mar 2011 14:03
The market's advance regained impetus over the lunchtime session as news came through of a ceasefire in Libya. Libya has acquiesced to the United Nations Security Council's resolution calling for an end to hostilities between government forces and the rebels. The United Nations Security Council
Read moreLondon open: OfGem report prompts National Grid surge
18th Mar 2011 08:39
Buoyed by a strong performance last night on Wall Street and the recovery this morning of Tokyo, London has started the day on the front foot. Miners are pushing the blue-chip index higher, with Xstrata, African Barrick and BHP Billiton to the fore. It is power and gas grid operator National Grid
Read moreBroker tips: Whitbread, National Grid, BBA Aviation
7th Mar 2011 12:31
Nomura trims earnings estimates at Whitbread due to increased costs, but revenue assumptions are unchanged and the broker keeps its 'buy rating. Fourth quarter revenue for the hotel, coffee shops and pubs group was in line with expectations and full year turnover is likely to show a like-for-life (
Read moreBroker snap: National Grid awaits Ofgem update
7th Mar 2011 10:43
In spite of RBS raising earnings forecasts for power and gas grid operator National Grid, the broker continues to worry about the path of UK regulation and awaits an Ofgem announcement later this month. "Favourable weather in the past year - a cold winter and warm summer - has boosted demand for ga
Read moreSunday newspaper round-up: HSBC, BSkyB, Virgin Money...
6th Mar 2011 10:53
HSBC has told its biggest shareholders that it is preparing to quit London in a shock move that it said is now "more likely than not". Britain's biggest bank, which has been headquartered in the capital for 19 years, warned key investors that last week's disappointing full-year results have made ar
Read moreNational Grid boss buys more shares
2nd Feb 2011 17:27
National Grid's chairman Sir John Parker today spent nearly £110,000 building up his stake in the power and gas grid operator. He bought 20,000 shares at 549.5p a time and now has 134,712. National Grid said that its operating profit is "significantly ahead of last year" in its trading statement f
Read moreTuesday newspaper round-up: Egypt, ECB, Marks & Spencer...
1st Feb 2011 06:42
Oil prices broke through the $100 a barrel level for the first time in more than two years, amid market fears that Egypt's turmoil will hit oil flows. Although both the Suez Canal and a pipeline linking the Red Sea with the Mediterranean continue to operate, the popular uprising to unseat Hosni Mub
Read moreLondon afternoon: Stocks back on an even keel
31st Jan 2011 14:46
Footsie is more or less back to square one after a lunchtime trading session which saw US oil giant Exxon announce better than expected fourth quarter figures. Travel companies are still friendless as investors fret about civil unrest in the popular holiday destination of Egypt. Airline IAG, the f
Read moreNational Grid restructures US operations
31st Jan 2011 14:37
National Grid is restructuring its US business and its management structure and believes that it can save $200m (£125m) a year in its US operations. Tom King will become responsible for the US business from April. This is part of a change from having management for each line of business to a regio
Read moreFTSE 100 movers: RBS in talks with Treasury
21st Jan 2011 13:33
Royal Bank of Scotland is higher on hopes that it can exit the governemnt's toxic asset scheme. RBS is reportedly in talks with the Treasury. BAE Systems is acquiring the 91.3% of Fairchild Imaging that it does not own for $86m. Fairchild supplies imaging components and cameras. It generated rev
Read moreSunday newspaper round-up: BP, Smith & Nephew, Interest rates...
16th Jan 2011 10:58
Russia's Prime Minister, Vladimir Putin, has promised to give BP "the most favourable tax treatment" in the Arctic as its £10bn deal with the Kremlin was greeted with cautious optimism by investors yesterday. Late on Friday night, BP agreed to issue £5bn of shares to Russian state-backed oil compa
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