London midday: Status quo maintained
7th Oct 2010 12:14
The Bank of England announcement on interest rate and quantitative easing (QE) policy was a non-event, with the Bank's Monetary Policy Committee (MPC) electing to maintain the status quo. Leaving the base lending rate unchanged was no surprise but there was a slight possibility that QE would be res
Read moreLondon open: Footsie slightly lower after updates' mixed reception
7th Oct 2010 08:33
Shares have fallen back in early dealings following a mixed reception for company updates. Traders may also be looking ahead to today's announcement from the Bank of England on whether it will resume the quantitative easing (QE) programme. There have been calls for more QE from within the nine-mem
Read moreLondon pre-open: Traders keep powder dry
7th Oct 2010 07:30
Investors seem to be in the mood to sit on their hands ahead of today's announcement from the Bank of England on whether it will resume the quantitative easing (QE) programme, with City sources suggesting the FTSE 100 index will open just a couple of points lower. There have been calls for more QE
Read moreRank sales rise despite economic worries
7th Oct 2010 07:04
Strong trading across its divisions helped casino and bingo hall operator Rank to a 7% rise in like-for-like sales in the third quarter, leaving the company confident for the full year despite challenging economic conditions. Grosvenor Casinos and Rank Interactive, an online business that includes
Read moreRank insures against unfavourable tax verdict
27th Sep 2010 07:38
Casino and bingo hall operator Rank Group is paying £4.5m to cap its tax liabilities in case the tax man wins his appeal against the company. The agreement with a third party relates to £59.1m of value added tax (VAT) refunded to Rank by Her Majesty's Revenue & Customs (HMRC) in 2008 as a result of
Read moreTuesday tips round-up: Brit Insurance, BP, Hochschild Mining...
21st Sep 2010 06:39
Private equity looked to be closing in on Brit Insurance, the sponsor of the England cricket team, on Friday after US firm Apollo was joined by peer CVC Capital Partners in making an improved bid of up to £870m for the insurance group. The Lloyds of London insurer said it expected to recommend the
Read moreBroker tips: BHP Billiton, Rank, China Foods
20th Sep 2010 12:39
Nomura Securities believes mining giant BHP Billiton is going to have put its hand deeper into its pocket if it wishes to secure the Potash Corporation of Saskatchewan (PCS), though it is debatable whether it should do so. Although BHP's current $130 per share offer is already at a 27% premium to N
Read moreBroker snap: Rank should crank up expansion
20th Sep 2010 12:05
Having weathered the storm of the recession it is time for casino, bingo and online betting operator Rank to kick on deliver sustainable growth, KBC Peel Hunt reckons. Peel Hunt analyst Nick Batram fancies Rank's chances, as it has leading positions in markets with high barriers to entry. The broke
Read morePromethean non-exec buys at discount to float
2nd Sep 2010 16:49
Non-executive director Philip Rowley has invested £31,000 in interactive whiteboards supplier Promethean World. Rowley bought 24,838 shares at 124.7p a share, taking his stake to 157,606 shares. Promethean World floated in March 2010 at 200p a share. The share price has been in decline since June
Read moreFriday tips round-up: Rolls-Royce, Aegis, Travis Perkins
30th Jul 2010 06:55
Rolls-Royce is among the FTSE 100's band of defensives. The shares trade on a multiple of 15.5 times forecast earnings for 2010, putting the stock at the top of end of its historic range. While that may worry some, it's just a reflection of the market's preference for what is a relatively safe and
Read moreLondon close: US gloom offsets company cheer
29th Jul 2010 16:33
Footsie closed slightly in the red, despite starting well on the back of well-received company updates, as weakness in the US spread across the Atlantic. AstraZeneca closed sharply higher. The group's potential blockbuster heart drug Brilinta has received the backing of a US advisory panel just as
Read moreUK SMALLCAP ROUNDUP: Surf's Up For Plantic Technology
29th Jul 2010 16:00
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps PLANTIC TECHNOLOGIES LTD. (PLNT.LN), a maker of biodegradable packaging for food, Thursday said it agreed terms for a takeover offer from the founder of
Read moreLondon afternoon: Footsie off the top
29th Jul 2010 14:28
The Footsie drifted lower over the lunch time session though still remained in positive territory, thanks in large part to enthusiastic responses to results from heavy hitters AstraZeneca, BT and Reed Elsevier. AstraZeneca is sharply higher. The group's potential blockbuster heart drug Brilinta has
Read moreFTSE 250 movers: Gambling stocks in demand
29th Jul 2010 14:18
PartyGaming is the star performer after announcing a merger with Austrian rival bwin. The online gambling group said the merger would create the world's largest listed online gaming business. Elsewhere in gambling, casino and bingo hall operator Rank is in demand after a rise in profits. Connaugh
Read moreRank profits climb as gamblers splash out
29th Jul 2010 13:13
Shares in Rank moved ahead after the bingo hall and casino operator announced a slight rise in profits and reported strong customer numbers in both businesses. In the half year to June 30, adjusted pre-tax profits climbed to £25.1m from £24.7m over the same period the previous year, as revenues cli
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