London midday: Footsie advances on triple witching day
19th Jun 2009 12:12
Footsie looks set to finish a disappointing week on a bright note, an outcome of keen interest to options and futures traders as today is a "triple witching" day when options, index futures and options on index futures all expire on the same day. Insurers lead the advance after Deutsche Bank upgra
Read morePrudential's Taiwan sale boosts capital
19th Jun 2009 11:17
Insurer Prudential will add about £800m to its £2bn capital surplus after completing the transfer of its agency business in Taiwan to China Life today. The UK firm received regulatory approval for the deal, announced in February, earlier this week. It has also bought a 9.99% stake in China Life for
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreBroker tips: Kingfisher, life assurance stocks, Umeco
2nd Jun 2009 13:30
The market has responded positively to first quarter figures from Kingfisher but broker Charles Stanley reckons the jury is still out on the prospects of the DIY retailer, despite upgrading its recommendation on the stock. 'A further weather related seasonal bounce is unlikely in 2009 and managemen
Read moreBroker snap: Panmure reviews life assurance sector
2nd Jun 2009 12:32
Panmure Gordon has been looking at the life assurance sector with a generally positive eye, though it thinks the time for buying Standard Life has passed for the time being. The broker has downgraded Standard Life from 'buy' to 'hold' in the wake of the share price's significant outperformance of i
Read moreLondon close: Blue chips close lower
28th May 2009 16:51
UK blue chips closed lower despite a bright start on Wall Street with sentiment knocked by poorly received updates from Wolseley and Man Group. Hedge fund manager Man Group was weighed down by disappointing results. "The past financial year saw extraordinary turmoil in financial markets globally wh
Read moreLondon afternoon: Leading shares trim losses
28th May 2009 14:12
Shares staged a fight back over the lunch-time session but Footsie remains in the red ahead of the opening on Wall Street, which is expected to see shares open moderately firmer. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of
Read moreLondon midday: Bears bite Man
28th May 2009 11:56
Stock market bears were out in force again this morning in London after thee overnight shake-out on Wall Street. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of the US is in short supply but the stock is also weighed down by
Read moreLondon close: US sparks Footsie recovery
26th May 2009 16:29
Footsie finished higher Tuesday after a strong performance by US shares, lifted by consumer confidence figures, hauled London's leading share index out of the red. The mining sector summed up the volatility seen on the markets today. Rio Tinto climbed after it said it had agreed a 33% cut in contra
Read moreLondon afternoon: Defensive stocks back in favour
26th May 2009 14:42
Hopes that Wall Street might provide a fillip to UK shares have been dashed as US markets open in a similarly dull fashion to London. Mining stocks and financials are the worst performers while defensive sectors such as tobaccos and supermarkets have returned to favour. Mining giant Rio Tinto is lo
Read moreLondon midday: Equities drift lower
26th May 2009 12:07
It was a dull morning session for London's leading shares, with the market following Asian markets lower after the news broke concerning North Korea's nuclear bomb test. Mining stocks and financials are the worst performers. Mining giant Rio Tinto is lower after it agreed a 33% cut in contract fin
Read moreFriday tips round-up: Prudential, National Grid, SABMiller
15th May 2009 06:39
Life insurance as a sector may have some problems, but the Independent says that that Prudential is leaving the others in its wake. The fact that sales are down in some key markets is a worry, and while it is not sure the shares will meet broker targets of 850p any time soon, they are undervalued. B
Read moreLondon close: Late surge boosts blue chips
14th May 2009 16:48
A late surge helped Footsie close firmly in the blue after it traded within a narrow range for the bulk of the day. BT set a gloomy tone with worse than anticipated results and a dividend cut more severe than predicted, but other results got a more encouraging response. Insurer Prudential rose by
Read moreLondon afternoon: Footsie remains range-bound
14th May 2009 14:39
The FTSE 100 continues to trade within a narrow range, unable to move outside the 4,320 to 4,340 corridor since mid-morning. Though there has been a flood of company results, the mixed reaction to these is representative of the market's indecision today. The market was braced for bad news from BT b
Read moreBroker tips: Thomas Cook, Invensys, Prudential
14th May 2009 12:50
The Mexican flu scare has slowed bookings at holiday firm Thomas Cook but the underlying momentum is encouraging, reckons KBC Peel Hunt. 'Stripping out the short-term impact from Mexico, current booking patterns are trending towards capacity,' notes KBC analyst Nick Batram. 'Of particular note is
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