Broker snap: Next's results could spark re-rating
14th Jul 2009 12:10
Singer Capital Markets has lifted its target price for Next ahead of the fashion retailer's second quarter update, expected on 29 July. The broker has edged up its target price for Next from 1725p to 1800p and upgraded its recommendation to "buy" from "fair value", after upgrading current year earn
Read moreLondon close: Footsie falls for fourth week
10th Jul 2009 17:04
London's blue-chip index fell for the fourth week in succession, with insurance and resource stocks the major fallers today. Aviva was the biggest casualty as fears resurfaced about the future of the company's dividend but its fellow life assurance stocks Prudential, Standard Life, Legal & General
Read moreLondon afternoon: Equities drift down in quiet trading
10th Jul 2009 14:06
London equities are sleepwalking to a dull end to a dull week. Life assurance stocks feature among the weakest performers as global markets continue to drift lower. Aviva, Prudential and Standard Life suffer the biggest falls in the sector. In the mining sector Rio Tinto is still under a cloud aft
Read moreLondon midday: Downward drift continues
10th Jul 2009 12:23
Equities continue to drift lower with blue-chips faring worse than second-liners. Better than expected Producer Prices data has limited the falls in London but expectations of a weak opening on Wall Street has not helped matters. UK producer output prices in June fell 0.2%, after rising 0.4% in May
Read moreHome Retail rocked by pay rebels
2nd Jul 2009 12:49
Argos owner Home Retail suffered a major revolt over a new director remuneration package at its AGM today, with 35.6% of shareholders voting against the deal. The scheme, which could see senior management receive bonuses of more than 150% of their salaries, had been slammed by the Association of Br
Read moreLondon close: Footsie adds 2%
1st Jul 2009 16:34
Miners were rampant Wednesday on stronger commodity prices, leaving the sector heavyweights dominating the blue chip index. There was healthy demand for gold on the metal markets, while copper also improved. The red metal headed higher following strong Chinese manufacturing data, while decreasing s
Read moreLondon afternoon: Resource stocks lead the way
1st Jul 2009 14:29
Resource stocks lead the market higher after the second half of the year got off to a good start following better than expected factory output data. The CIPS/Markit manufacturing purchasing managers' index rose to 47 in June from 45.4 the month before and a gloomy 34.9 in February. Most of the top
Read moreLondon midday: Marks sparks rally
1st Jul 2009 12:06
A well received set of results from Marks & Sparks and the strength of miners drives London higher today. Marks and Spencer's like-for-like sales fell across its major divisions in the first quarter, though total group sales were up. In the 13-weeks to June, UK like for like sales fell 1.4%, Genera
Read moreLondon open: Footsie strongly ahead
1st Jul 2009 08:50
It is all blue this morning so far with demand for miners adding to well received trading statements from Marks & Spencer and International Power. Bus and rail group National Express is the big story. It has handed back the East Coast franchise after failing to renegotiate terms. The service will n
Read moreLondon close: Footsie closes flat
18th Jun 2009 16:34
A late afternoon rally fizzled out to leave Footsie little changed after a volatile day. Economic stories dominated the news with mixed data in the UK offset by better than expected intial jobless figures in the US. UK mortgage lending eased in May from the month before and was 58% lower than the
Read moreLondon afternoon: US rally lifts Footsie
18th Jun 2009 15:03
Better than expected US dole queue figures have lifted Footsie in the afternoon session, despite very mixed economic data here at home. Mortgage lending eased in May from the month before and was 58% lower than the same time last year, figures showed today. The Council of Mortgage Lenders (CML) s
Read moreLondon midday: Economic data knocks retailers
18th Jun 2009 12:02
Leading shares drift lower after disappointing retail sales and weaker mortgage lending in May. The economic data proved to be a double-whammy for DIY retailers Home Retail and Kingfisher, which feature prominently among the main fallers. Elsewhere in the retail sector fashion chain Next and Currys
Read moreTechnical Analysis: Retailers paring gains
15th Jun 2009 14:09
Last week's disappointing retail sales figures for May which showed a 0.8% dip in like for like sales, has prompted some profit-taking in the general retail sector after several months of significant gains. The sector has had a good run since the beginning of the year, rising over 40%, however it
Read moreLondon close: Footsie limps back into positive territory
27th May 2009 17:02
The movements of London's blue-chip index looked as if they were being directed by the grand old Duke of York today, with the index starting the day on the up, then heading lower over the lunchtime session before finishing roughly where it started. Sterling moved above $1.60 for the first time sin
Read moreLondon afternoon: Footsie drifts into the red
27th May 2009 14:58
London's leading shares are mixed in quiet trading. Hopes of receiving a lift from a strong start on Wall Street have been dashed, with the US market trading indecisively as London as traders await the release of US existing home sales data. Water companies receive a boost ahead of the sector's res
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