London afternoon: Banks lead rally
28th Jan 2010 14:31
Blue chips put on a spurt over the lunch time session despite drugs giant Astra issuing disappointing fourth quarter figures. The Anglo-Swedish pharmaceuticals firm saw fourth quarter earnings rise 10% but warned that its predicted 2010 revenues would be hit by the loss of exclusive rights to sell
Read moreFTSE 100 movers: AstraZeneca warns on sales
28th Jan 2010 13:59
The FTSE 100 index continues to head downwards although some financials are recovering. Drug developer AstraZeneca reported a smaller than expected increase in profits and warned that sales will fall in the coming years as major drugs are exposed to generic competition. On a constant currency basi
Read moreLondon midday: Footsie flat after mixed earnings news
28th Jan 2010 12:13
Blue chips are struggling to make headway in the face of mixed company news today. Pay TV and Internet service provider British Sky Broadcasting (BSkyB) is one of the best performers after it said it had a strong second quarter with revenues coming in marginally ahead of expectations. Turnover in
Read moreLondon open: Footsie fights back
28th Jan 2010 08:20
London's top stocks have opened higher on Thursday, winning back some recent losses in early dealings. Pay TV and Internet service provider British Sky Broadcasting (BSkyB) is one of the best performers after it said it had a strong second quarter with revenues coming in marginally ahead of expecta
Read moreLondon pre-open: Bright start expected
28th Jan 2010 07:34
Footsie is expected to win back some recent losses in early dealings on a busy day on the company news front. Pay TV and Internet service provider British Sky Broadcasting (BSkyB) had a strong second quarter with revenues coming in marginally ahead of expectations. Turnover in the six months to the
Read moreRolls-Royce wins Jetstar order worth up to $1.2bn
28th Jan 2010 07:26
Rolls-Royce has won a share of an order from Jetstar Airways for V2500 engines to power up to 90 Airbus A320 family aircraft. The order is worth up to $1.2bn to Rolls-Royce if all options are exercised. Jetstar, a wholly-owned subsidiary of Qantas Airways, has selected the engine for a new fleet
Read moreBroker tips: SABMiller, Rolls-Royce, C&C
27th Jan 2010 13:23
Credit Suisse recently met with SABMiller's Latin American management team and came away with its bullish perspective of the Peroni brewer reinforced. 'The stock is off 10% from its year-end 2009 peak and the PE [price/earnings] multiple has eroded by 12% from its peak 18x to today's 15.8x. We thin
Read moreBroker snap: Rolls-Royce not worthy of premium rating
27th Jan 2010 13:21
UBS is raising its price target for engine designer Rolls-Royce but maintaining its 'sell's stance, noting that the company already trades at a significant premium to its civil aerospace sector peers. 'For a company that in our view; faces a weak cash flow outlook for both 2010 and 2011; brings a d
Read moreSunday newspaper round-up: Cadbury, Barclays, Bonuses
13th Dec 2009 11:20
Crunchie to Crème Egg chocolate maker, Cadbury, will tomorrow unveil its formal defence document, spelling out why the future is so creamy that it doesn't need Kraft Food's £10bn hostile takeover bid which has caused a furious response. Chairman Roger Carr and chief executive Todd Stitzer are expect
Read moreRolls-Royce wins UAE Navy waterjet order
7th Dec 2009 10:06
Rolls-Royce has won an order to supply 24 lightweight waterjets for the UAE Navy's fleet of fast patrol boats. The integrated power systems manufacturer did not comment on the financial details of the deal. The UAE Navy has ordered 12 new fast patrol boats, based on the Ghannatha Class fast troop
Read moreSunday newspaper round-up: Dubai, Yell, Banks
29th Nov 2009 12:08
Abu Dhabi is this weekend putting together a rescue package for Dubai, its debt-laden Gulf neighbour, in an attempt to restore calm in panicked international markets, according to the Sunday Times. The FT adds that Dubai's government is preparing a campaign to persuade the holders of a bond due for
Read moreLondon Close: Dubai worries knock market
26th Nov 2009 17:25
The London market wasn't helped by a technical glitch at the London Stock Exchange but it was never going to be a good day due to worries about the debt problems of Dubai. The fact that there was no trading for more than three hours just made investors even more nervous. The FTSE 100 fell by more
Read moreTuesday newspaper round-up: Lloyds Banking, Tesco, Informa
24th Nov 2009 06:31
Lloyds Banking Group will on Tuesday launch the UK's largest rights issue to raise £13.5bn ($22bn), offering investors new shares at 36p each, a huge discount, ahead of a shareholder vote on Thursday. The rights issue is part of a £22.5bn capital raising that aims to repair the bank's balance sheet
Read moreLondon close: Good as gold
16th Nov 2009 16:56
Footsie came close to breaching the 5400 barrier, helped by a positive start on Wall Street, but profit taking set in at the end of the session and gains were pared. Much of the blue-chip index's advance was down to mining stocks, which were in demand as metal prices continue to head north. Lonmi
Read moreLondon afternoon: Sainsbury slides on sales leak
16th Nov 2009 14:31
After getting off to a flying start, the FTSE 100 index has drifted sideways since the middle of the morning. A larger part of the blue-chip index's gain is down to mining stocks, which are in demand as metal prices continue to head north. Lonmin leads the sector higher despite reporting a full-y
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