FTSE 100 movers: Compass hit by sales slow down
23rd Jul 2009 12:50
Contract caterer Compass Group slumped after a disappointing interim management statement but broker Charles Stanley reckons the share price fall makes the case for purchasing the shares even more compelling. "The share price has reacted adversely to the Q3 update but we believe that the only disa
Read moreLondon midday: OfWat report dilutes equity strength
23rd Jul 2009 11:54
The Footsie's eight day winning streak is in danger of coming to an end today as utility companies weigh down the blue-chip index after water regulator Ofwat outlined proposals for lower water bills. The water regulator's draft proposals would see the average annual water bill fall by £14 to £330 b
Read moreOfwat calls for 4% bill reductions
23rd Jul 2009 07:38
Shares in water companies fell heavily after the water regulator Ofwat outlined proposals on pricing over the next five years that were less generous than they hoped. Ofwat's plans would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015, while leaving leave room
Read moreLondon midday: Shares pause for breath
22nd Jul 2009 12:07
Leading shares are mixed, with losses on miners and banks offset by gains on defensive favourites such as tobaccos and utilities. Mining giant BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun) production increased for 12 major commodities
Read moreOfwat to rule on water firms' five-year plans
22nd Jul 2009 11:29
Just two days before Ofwat, the water regulator, was due to give its preliminary verdict on water firms' plans for inflation-busting price rises, Severn Trent became the latest to complain of consumers cutting back on water use. Unfortunately for the water firms, given that the fall in consumption
Read moreSector movers: Water groups wanted
22nd Jul 2009 10:15
Shares in water groups advance ahead of tomorrow's preliminary ruling from the water regulator on their five-year business plans. According to Nomura, investors have been overly pessimistic about Ofwat's plans. The broker thinks the sector may rally tomorrow when Ofwat's report turns out to be mor
Read moreLondon close: Rally continues
21st Jul 2009 16:44
Footsie finished just shy of the 4,500 mark after another day of gains as the rally continues. Wm Morrison led the way after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation of its cost cutting pla
Read moreLondon afternoon: Advance gathers speed
21st Jul 2009 14:11
London kicked on over the lunchtime session, with risers outnumbering fallers by four to one among FTSE 100 constituents. Wm Morrison leads the way after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implement
Read moreLondon midday: Morrisons leads advance
21st Jul 2009 11:57
Retail stocks dominate proceedings in London following trading updates from Morrisons and Next. Wm Morrison leads the risers in the FTSE 100 after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation o
Read moreLondon open: Gains continue for Footsie
21st Jul 2009 08:42
London's blue chips have started another day in positive territory with Footsie more than 15 points higher. The blue chip index has now risen by about 7% in the past few days. Supermarket chain Wm Morrison is confident full year results will be ahead of its earlier expectations due to continuing cu
Read moreLondon pre-open: Shares set to rise
21st Jul 2009 07:31
London's blue chips look set to start another day in positive territory with traders expecting Footsie to open 11 points higher. Supermarket chain Wm.Morrison is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation
Read moreSevern Trent trading in line
21st Jul 2009 07:13
Water firm Severn Trent said trading has been in line with its expectations and prior guidance, though decline in consumption will hit revenues slightly. The group said the decline in consumption across its measured income base has continued at similar levels to 2008/09 and it estimates this will i
Read moreTuesday preview: Severn Trent, Microgen
20th Jul 2009 15:38
Water company Severn Trent will issue its AGM statement tomorrow after it saw profits fall in the last financial year due to increased energy and commodity costs. Profit before tax for the year to March fell 12.9% to £167.6m. Underlying profit before interest, tax and exceptionals was flat at £470
Read moreLondon afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its clients to take advantage of recent share price weakne
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
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