FTSE 100 movers: Aberdeen boosted by acquisition news
14th Feb 2013 15:06
Asset management firm Aberdeen was a high riser after buying sector peer Artio Global Investors for 175m dollars. Canaccord Genuity upgraded the stock to 'buy' this morning 'given the earnings per share expansion from current acquisitions'. Power systems group Rolls-Royce was also higher after its
Read moreLondon midday: Stocks sink as Eurozone contracts further in Q4
14th Feb 2013 12:05
After hitting a fresh five-year high the day before, London's benchmark FTSE 100 index slumped on Thursday morning as traders reacted to weaker-than-expected economic growth figures from Japan and across Europe. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.
Read moreRolls Royce sees profits take off
14th Feb 2013 09:08
Britain's Rolls Royce reported a 24 per cent jump in annual profits driven by strong performance in its civil aerospace unit. Underlying pre-tax profits rose to £1.4bn in 2012, up from £1.1bn the previous year. It beat a £1.37bn estimate by a poll of 14 analysts at Thomas Reuters. Revenues grew 8
Read moreLondon open: Markets flat as stocks digest GDP figures
14th Feb 2013 08:37
Markets opened broadly flat on Thursday morning, pausing after hitting a fresh five-year high the day before, as investors showed caution on a busy day for economic data. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.1% in the fourth quarter, down 0.4% on an
Read moreLondon pre-open: FTSE to edge lower after yesterday's highs
14th Feb 2013 07:36
City sources predict the FTSE 100 will open down four points from yesterday's close of 6,359, after it hit five-year highs on Wednesday - despite a number of stocks providing a drag after going ex-dividend. Further gains may be limited by news that Japan's economy contracted 0.1%, compared to expe
Read moreIan Davis appointed as new Chairman of Rolls-Royce
14th Feb 2013 06:58
Aerospace and defence company Rolls-Royce has appointed Ian Davis as the Chairman of the company, succeeding Sir Simon Robertson. Davis will join the board as a non-executive Director on March 1st and take over from Robertson at the conclusion of the annual general meeting on May 2nd. According t
Read moreRolls Royce agrees contract with MoD worth 800m pounds
13th Feb 2013 13:57
Rolls-Royce, the FTSE 100 global power systems company, has shaken hands with the Ministry of Defence (MoD) on a new 10-year enabling contract that will sustain as many as 2,000 jobs in the UK. The contact, which is valued at around £800m, will deliver costs savings of £200m to the MoD in the prov
Read moreLondon midday: Banks pull Footsie into positive territory
12th Feb 2013 11:47
Stocks had pulled into positive territory by Tuesday lunchtime helped by strength in the banking sector as full-year results and the outcome of a strategic review at Barclays were well-received by the markets. Providing some support this morning was the news that credit ratings agency Standard & Po
Read moreBroker tips: Barclays, Vodafone, Rolls-Royce
12th Feb 2013 10:59
The long-awaited strategic review at UK banking group Barclays was welcomed by Investec (and the market) on Tuesday, with the broker maintaining its 'buy' rating for the stock. The broker hailed the company's cost performance during the year, specifically the improvement in costs at Barclays Capita
Read moreBroker snap: Rolls-Royce is 'best-quality' company in sector, says JPMorgan
12th Feb 2013 10:38
JPMorgan Cazenove has initiated coverage of the European aerospace and defence sector, labelling Rolls-Royce, EADS and Thales as the stocks with the most share-price upside. However, it's FTSE 100-listed power systems group Rolls-Royce (rated 'overweight') that is named as the "best-quality company
Read moreLondon open: Stocks flat despite banking strength
12th Feb 2013 08:28
UK stocks opened broadly flat on Tuesday morning ahead of some UK inflation data, with markets pausing for breath after a strong rise in the year to date. The FTSE 100 had a subdued day yesterday on the back of a lack of economic news and low trading volumes, partly owing to the closure of Asian ma
Read moreLondon pre-open: FTSE to track US stocks lower
12th Feb 2013 07:25
City sources predict the FTSE 100 will open down five points from yesterday's close of 6,277, tracking the modest losses seen on Wall Street last night. US stocks continued to drag through Monday ahead of President Barack Obama's highly anticipated State of Union speech. The leader will discuss
Read moreRolls-Royce wins engine order from US Armed Forces
12th Feb 2013 07:07
Power systems giant Rolls-Royce has won a contract to build aircraft engines for the US Marine Corps and Air Force. The $83.7m contract, which is a modification of a prior agreement, includes a total of 38 Rolls-Royce AE 1107C engines manufactured in Indianapolis to power the V-22 aircraft. "This
Read moreLondon midday: Stocks make gains on light volumes
11th Feb 2013 11:31
On a light day for economic data and trading volumes, the FTSE 100 was registering moderate gains by Monday lunchtime. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed for
Read moreLondon open: Markets lack direction early on
11th Feb 2013 08:37
The FTSE 100 opened flat on Monday morning with volumes thin as Asian markets close for the Lunar New Year holidays. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed. "At
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