Dip in consumption levels out at Severn
26th Jan 2010 07:03
The decline in consumption by non-residential customers tailed off in the fourth quarter, water company Severn Trent said. The company, which said it has been trading in line with expectations since 1 October, estimates that the cutback in consumption will now result in a year on year fall in reven
Read moreTuesday preview: Sage, PZ Cussons, UK GDP
25th Jan 2010 13:36
The share price of Newcastle-based accountancy software firm Sage is floating around its 52-week high ahead of tomorrow’s first quarter interim management statement. The company saw market conditions stabilise in the second half of its previous financial year and broker Panmure Gordon, a long time
Read moreLondon close: Banks and miners drag Footsie lower
21st Jan 2010 16:30
Leading UK shares lurched lower in the afternoon as US shares weakened and investors waited nervously for President Obama's new bank reforms. The US President's proposals prohibit commercial banks from owning or investing in hedge funds or owning, investing or advising private equity funds, while a
Read moreSector movers: Utilities gush higher
21st Jan 2010 14:49
United Utilities has taken off today after the water company cut its dividend by less than expected to meet the requirements of the industry regulator's price review. It will rebase the dividend to 30p a share for fiscal 2010/11 from 34.3p this year. Experts had thought it might fall by 20-25%. Se
Read moreLondon afternoon: Banks face 'tsunami' of pressure
21st Jan 2010 14:44
Leading shares traded sideways over the lunchtime session, albeit with a small dip at 1:30pm when the US market opened a tad lower. Banks and miners are impeding Footsie's progress, with the latter still friendless on concerns about demand from China. Pundits are predicting that the Chinese authori
Read moreLondon midday: Footsie ahead after mixed morning
21st Jan 2010 12:01
Footsie can't make up its mind this morning and after dropping into the red after miners gave up early gains the index is making good progress again. Xstrata, Rio Tinto, Anglo American, Fresnillo, Kazakhmys and Vedanta Resources remain the main blue chip fallers on concerns about demand from China.
Read moreFTSE movers: Miners head lower
20th Jan 2010 17:27
It is unusual for one sector to make up all of the top ten fallers in the FTSE 100 but this has happened to day as mining companies are hit by concerns about the Chinese government's attempt to cool down its economy. The worry is that this will lead to lower demand for metals. Eurasian Natural Res
Read moreBroker tips: Int'l Power, Severn Trent, Stagecoach
20th Jan 2010 13:10
Hopes of a bid for International Power (IPR) were dashed earlier this week when it said talks with GDF Suez were over, but there's more to the energy giant than that, says Credit Suisse. The Swiss bank thinks earnings 'have already troughed' and suggests using any pullback and return to fundamental
Read moreBroker snap: Analysts forgive Severn Trent divi cut
20th Jan 2010 09:17
Severn Trent is up, despite yesterday's decision to accept Ofwat's proposals for 2010-15, as the resulting 10% cut in next year's dividend was less than expected. Nomura didn't think the water company needed a rights issue or a dividend cut to position itself for the upcoming five years. Some antic
Read moreLondon close: Footsie turns positive
19th Jan 2010 17:22
London's top stocks finished the day above the 5,500 mark after turning positive in afternoon trading. Luxury fashion label Burberry was the best performer of the day after saying it expects profits for the full year to be at the top end of expectations after seeing strong sales in the last three m
Read moreLondon midday: Footsie falls despite Cadbury cheer
19th Jan 2010 12:00
Footsie is in the red, despite strength from Cadbury which has been sweetened by its board's recommendation of a revised offer from US food giant Kraft, as investors mull the latest round of third quarter trading statements. The revised terms for Cadbury are worth around 850p a share and have clea
Read moreLondon open: Weak start from FTSE 100
19th Jan 2010 08:41
London's leading share index has fallen into the red in early dealings after a mixed reception for company updates. Brewer SABMiller and property group Land Securities are among the fallers. Peroni and Grolsh brewer SABMiller saw lager volumes dip slightly in the first nine months of its current
Read moreSevern Trent chops divi by 10%
19th Jan 2010 07:57
Water company Severn Trent has announced a 'one-off' cut in the dividend to help it meet the output and operating efficiency demands of the industry regulator. Ofwat's final set of proposals for the period 2010-2015 call for a capital investment programme of £2.5bn, annual average operating spend o
Read moreLondon close: Footsie hits one-month high
23rd Dec 2009 16:23
The UK's leading index lost a chunk of its gains late on as weak housing data hurt Wall Street, although London still registered its best close in over a month. Despite predictably quiet trade, the FTSE 100 ended ahead for the third session in a row and as high as it's been since 16 November. It w
Read moreLondon afternoon: Gains trimmed
23rd Dec 2009 14:16
London saw its gains pared over the lunch time session in predictably quiet trading. Around one-third of Footsie constituents are now in the red, compared to around one-fifth at midday. Included among the laggards is Cairn Energy, which gives back some of the chunky gains racked up over the first t
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