London open: Footsie makes steady start
29th Jun 2009 08:32
London's blue chips have made a steady start with banks pushing on and insurers making gains. Lloyds and Barclays are both ahead with the new government paper on regulation of the sector likely soon and expected to see a defeat for the ideas of Bank of England governor Mervyn King. Outsource gian
Read moreLondon pre-open: Shares to drop
29th Jun 2009 07:38
London's blue chips are expected to open slightly lower with traders forecasting Footsie to drop around 15 points early on. Hovis to Branston Pickle maker Premier Foods's trading this year has continued on track, with sales of bread especially described as excellent. The heavily indebted group, wh
Read moreSerco on track to deliver guidance
29th Jun 2009 07:02
Outsource giant Serco said it remains on track to deliver on its 2009 guidance and continues to see significant opportunities in the current challenging economic environment. The group also announced that it has signed an A$370m (£180m) contract with the Australian Government's Department of Immigr
Read moreSerco chief raises stake
16th Jun 2009 17:08
Serco chief executive Christopher Hyman has bought shares and exercised options in the support services firm. Hyman purchased 38,303 ordinary shares at a price of 404.50p per share, which are to be held as Investment Shares under the terms of the company's deferred bonus plan. In addition, Hyman e
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreFTSE 100 movers: Tesco gets warm reception
16th Jun 2009 15:57
Tesco has responded well to its latest trading update, though brokers were a little cautious. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter from 3.7% in the previous quarter, it still lags behind sector peers such as Wm Morrison and
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreBroker tips: Tesco, BT, Serco
16th Jun 2009 12:58
Broker Charles Stanley expects the market to leave its profit forecasts for Tesco broadly unchanged after the supermarket chain delivered an in-line trading update on Tuesday morning. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter fr
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreBroker snap: Public sector cuts to benefit Serco
16th Jun 2009 12:02
Support services firm Serco is set to benefit from the tighter budgets under which the public sector will have to operate in future, reckons UBS. The Swiss bank said the shares have been on a good run since the beginning of May on the back of some contract wins, but there may still be a residue of
Read moreLondon close: Triple digit fall for Footsie
15th Jun 2009 17:09
Footsie suffered a triple digit fall today with virtually all blue-chip stocks except defensive favourites such as utilities having their foot jammed hard down on the reverse pedal. Resource stocks led the decline as metals and oil prices moved lower. Platinum miner Lonmin was the weakest stock in
Read moreLondon afternoon: Prices steady at lower levels
15th Jun 2009 14:32
The market moved sideways over the lunch-time session, with the Footsie remaining deep on the red, despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almo
Read moreLondon midday: Dollar rise knocks resource stocks
15th Jun 2009 12:04
London had a difficult morning despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almost immediately squashed by the IMF saying the opposite. It believes
Read moreLondon open: Weak start for blue chips
15th Jun 2009 08:37
London's blue chips have fallen sharply with the miners taking the biggest hit. Platinum miner Lonmin leads the fallers after it shut down its Number One furnace. The group's initial estimate is that a full repair of the vessel is likely to take around 30 days. Other miners are also under pressure
Read moreLondon pre-open: Blue chips to drop
15th Jun 2009 07:37
London's blue chips are expected to fall back in early dealings Monday with traders expecting a 20 point drop. Punch Taverns said it will raise approximately £350m through a placing and open offer and intends to make a tender offer to purchase any or all of its outstanding convertible bonds. The gr
Read more