London midday: Stocks mixed after stream of updates
24th Aug 2011 12:10
The leading share index is flitting between red and blue amid differing receptions for today's stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is hig
Read moreLondon open: Admiral drags Footsie into the red
24th Aug 2011 08:29
Early gains proved short-lived as the blue chip index in London fell into the red by 08.32, dragged lower by Admiral and the miners, who were registering losses on the back of falling metals prices. Admiral was the worst performer on the FTSE 100, losing over 5% after despite pre-tax profits growi
Read moreSerco resilient despite UK and US headwinds
24th Aug 2011 07:18
Outsourcing firm Serco said it overcame UK and US headwinds to deliver a 12.2% rise in adjusted pre-tax profit, driven by its international portfolio. Adjusted operating profit grew to £133.8m in the six months to end June from £124.4m a year before. Revenue increased 4.9% to £2.24bn. Excluding adv
Read moreLondon pre-open: Footsie bandwagon rolls on
24th Aug 2011 07:18
Encouraged by Wall Street's solid showing overnight, UK shares are set to continue their recent revival, with City traders predicting the top-share index will open at around 5,174, up 45 points from last night's close. Car insurer Admiral announced record half-year figures, with profit before tax 2
Read moreWednesday preview: Tullow Oil, Admiral, Serco
23rd Aug 2011 17:32
Broker finnCap thinks there is a good chance that Tullow Oil will cut its full-year guidance, after its partner on the Jubilee field, Kosmos Energy, reported a slower than expected ramp-up of production at the field, located off the coast of Ghana. "Current guidance is 90-94mboepd [million barrels
Read moreWednesday tips round-up: BHP Billiton, Serco, Pearson
10th Aug 2011 06:50
Funny how the same ideas come around again. Several decades ago, vertical integration ? owning every step of the production process ? was the norm. Then that gave way to employing contractors and squeezing them to gain efficiencies. Now, in mining, the old model is coming back into vogue: BHP Billit
Read moreLondon close: Gains wiped out
1st Aug 2011 16:57
After a late dive the top share index finished deep firmly in the red, reversing strong gains after some weak economic data from the US. The Institute of Supply Management´s (ISM) purchasing managers´ index for the manufacturing sector fell to 50.9 points in July, from 55.3 the month before. That d
Read moreLondon midday: FTSE 100 adds more gains as HSBC impresses
1st Aug 2011 12:12
The leading share index is approaching triple-digit gains now with company updates driving shares higher. The FTSE 100 got off to a strong start and was boosted further by results from HSBC, which updated after the open. The banking giant unveiled a rise in profits and announced plans to cut up to
Read moreLondon open: 5,900 in sight as Footsie starts strongly
1st Aug 2011 08:32
Only four stocks were in the red on Monday morning as the blue chip index recovered from a week of losses on the back of the back-and-forth debt ceiling debates in the US. However, the saga is apparently close to its end after President Barack Obama and congressional leaders agreed on a deal to put
Read moreLondon pre-open: Debt ceiling deal set for warm welcome
1st Aug 2011 07:33
With the US debt ceiling saga apparently close to its end, at least until the world's biggest economy needs to up its borrowing requirement again, equities on this side of the pond are set for a relief rally after Friday's fall. President Barack Obama and US congressional leaders have agreed on a
Read moreSerco wins Aussie hospital contract
1st Aug 2011 07:09
Outsourcing behemoth Serco has signed a new hospital services contract, worth A$1.3bn (£850m), in Australia. The 10-year contract is with the Western Australian Department of Health to provide vital non-clinical support services at the new Fiona Stanley Hospital near Perth. The contract has two fiv
Read moreFTSE 100 movers: Serco's growth rate to acclerate
6th Jul 2011 17:17
Fears that outsourcers such as Serco would be hard hit by the government's comprehensive spending review have yet to be fully realised, but the company's shares have been on a bad run of late. That seems to have prompted Citigroup to issue a "buy" note on the stock, with a target price of 670p. Ci
Read moreLondon midday: Stocks gain on euro hopes
28th Jun 2011 12:16
Stocks are still going well on hopes that the Greek crisis will soon be acted on. However, Cable & Wireless Worldwide is lower after saying chief executive Jim Marsh is to step down after the telecommunications group concluded profits are likely to fall short of previous expectations due to slower
Read moreLondon open: FTSE 100 moves higher, C&W Worldwide and Carpetright slump
28th Jun 2011 08:29
The FTSE 100 has climbed as investors await progress in troubled Eurozone member Greece, but gloomy updates C&W and Carpetright are reminding investors of the fragile state of our own economy. Cable & Wireless Worldwide's chief executive Jim Marsh is to step down after the telecommunications group
Read moreLondon pre-open: Cautiously firmer
28th Jun 2011 07:36
Today is yet another big day for Greece, and therefore the future of the eurozone, with the country's parliament set to vote on the package of austerity measures that the country needs to implement if it is to get the next tranche of bailout money from the European Union and the International Moneta
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