London afternoon: Bid activity keeps the pot bubbling
15th Nov 2010 14:07
A sprinkling of bid speculation is livening up markets this Monday, as traders wait for the Irish sovereign debt situation to play itself out. Shares in Invensys are higher despite the engineering firm denying press reports that it has received an approach. The company's chief executive Ulf Henrik
Read moreLondon midday: Footsie back in the blue
15th Nov 2010 12:07
Footsie is in positive territory now after an impressive rally that has been mostly powered by miners, though there's takeover talk in the oil sector. Premier Oil is doing its bit for the mid-cap index, racing to a new all-time high on talk that state-controlled KNOC, the Koreans who recently paid
Read moreLondon open: Miners pull index lower
15th Nov 2010 08:43
Blue chips have opened lower despite some trading updates today, with miners the main drag on sentiment. BHP Billiton's decision to end its battle to buy Canada's Potash Corp for around $40bn and sweeten shareholders with a $4.2bn share buyback instead has not helped its share price. Earlier this
Read moreLondon pre-open: Small loss forecast
15th Nov 2010 07:37
Wall Street's failure to reclaim any lost ground Friday is expected to dampen the mood in London Monday. Futures prices point to an early 10-point decline for the FTSE 100 after the Dow Jones ended 90 lower in the US at the end of last week. Big news over here is BHP Billiton's decision to end its
Read moreSerco sees significant opportunities
15th Nov 2010 07:13
Serco, the outsourcing company that recently got a telling off for asking suppliers to subsidise the group's contribution to the government's spending cuts, is on track to deliver on its financial guidance for 2010. At the half year Serco had an order book of £16.7bn, since when it has been awarded
Read moreSerco back in favour after government MoU
12th Nov 2010 17:44
Serco, the support services group that recently fell out with the coalition after demanding a 2.5% rebate from suppliers to help cover the cost of spending cuts, seems to be back in favour with the government. The company, which operates prisons, transport infrastructure such as London's Docklands
Read moreFTSE 100 movers: Strong growth for Inmarsat
8th Nov 2010 14:30
Satellite operator Inmarsat achieved strong growth in its aeronautical and leasing services in the third quarter. Total revenue in the three months ended 30 September rose 19% to $308.8m from $260m the year before. Pay TV and internet service provider BSkyB has reached its target of 10m TV custome
Read moreFTSE 100 movers: Banks head lower
5th Nov 2010 13:21
There was a negative reaction to the bank figures today. Royal Bank of Scotland fell into the red in the third quarter. It recorded a loss before tax of £1,379 million, compared with a profit of £1,157m in the second quarter and a loss of £2,077m in the third quarter of 2009. HSBC warned that the
Read moreFTSE 100 movers: Funds growth for Man
4th Nov 2010 14:04
Hedge fund manager Man Group has risen more than 10% as funds under management grew in the third quarter of 2010. Man reported a rise in funds under management to $40.5bn (£25.2bn) from $38.5bn the previous quarter. The firm says that it was 'due to strong investment performance and favourable FX m
Read moreLondon close: More gains for Footsie after well-received results
2nd Nov 2010 16:36
A strong performance on Wall Street ahead of the US Federal Reserve's decision on whether to increase monetary stimulus measures - not to mention the mid-term election - helped sustain good gains in London. Sentiment here was buoyed by well-received results from some big names. Beleaguered oil gia
Read moreLondon afternoon: Footsie consolidates gains
2nd Nov 2010 14:26
Footsie moved sideways over the lunch time session, as investors digested a busy morning of big company announcements. Beleaguered oil giant BP comfortably beat third quarter profit forecasts though it has had to take an additional $7.7bn charge in respect of the Gulf of Mexico oil spill. The marke
Read moreFTSE 100 movers: Imperial Tobacco beats expectations
2nd Nov 2010 12:54
Cigarettes maker Imperial Tobacco topped market forecasts with its full year profits, and sharply reduced its debt. Adjusted profit before tax in the year to 30 September rose 10% to £2,467m from £2,233m the year before. The market had pencilled in a figure of £2.320m. Net debt was reduced by £1.5
Read moreLondon midday: Footsie builds on gains
2nd Nov 2010 12:15
Footsie has built on its earlier gains as investors react positively to updates. Beleaguered oil giant BP comfortably beat third quarter profit forecasts though it has had to take an additional $7.7bn charge in respect of the Gulf of Mexico oil spill. The market had been expecting underlying net in
Read moreLondon close: US breathes life back into Footsie
1st Nov 2010 16:42
A good early performance from Wall Street helped Footsie snap out of a weak spell to close in positive territory. US shares were boosted by a bigger than expected rise in factory output in October. The Institute for Supply Management's manufacturing index rose to 56.9 last month. Analysts thought
Read moreLondon afternoon: Banks and miners lead advance
1st Nov 2010 15:14
Footsie pulled out of its late morning slump over the lunch time session to move firmly back into positive territory, though investors are still reluctant to commit too heavily ahead of tomorrow's mid-term US elections, and the quantitative easing decisions expected this week from the Bank of Englan
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