London close: Blue chips close lower
28th May 2009 16:51
UK blue chips closed lower despite a bright start on Wall Street with sentiment knocked by poorly received updates from Wolseley and Man Group. Hedge fund manager Man Group was weighed down by disappointing results. "The past financial year saw extraordinary turmoil in financial markets globally wh
Read moreLondon afternoon: Leading shares trim losses
28th May 2009 14:12
Shares staged a fight back over the lunch-time session but Footsie remains in the red ahead of the opening on Wall Street, which is expected to see shares open moderately firmer. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of
Read moreSector movers: Tate and Lyle fails to sweeten food sector
28th May 2009 13:27
Tate and Lyle is among the companies dragging the food producers sector into the red. The sugar and sweetener firm posted a sharp fall in profits after facing impairment charges and tough trading conditions. Profit before tax in the year to 31 March fell to £113m from £182m the previous year even
Read moreBroker tips: Tate & Lyle, Wolseley, BTG
28th May 2009 13:23
The outlook for sugar and sweeteners group Tate & Lyle remains uncertain and the shares should be sold, according to Panmure Gordon. "The headline number of PBT [profit before tax] down just 2% is flattered by the strength of the dollar. In constant currencies PBT fell by 18%, and the outlook remai
Read moreBroker snap: Future cloudy at Tate & Lyle
28th May 2009 13:21
The outlook for sugar and sweeteners group Tate & Lyle remains uncertain and the shares should be sold, according to Panmure Gordon. Industrial starch demand remains very weak, as does demand for high-fructose corn syrup (HFCS), which 'makes for a potentially very tough HFCS pricing round this Autu
Read moreLondon midday: Bears bite Man
28th May 2009 11:56
Stock market bears were out in force again this morning in London after thee overnight shake-out on Wall Street. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of the US is in short supply but the stock is also weighed down by
Read moreFTSE 100 movers: Man hammered on profit slide
28th May 2009 11:30
Hedge fund manager Man slumped over 10% at one point today as troubles in the global financial markets in the past year dragged on profits. Funds under management at 31 March slumped to $46.8bn against $74.6bn last year. The figure was $0.9bn lower than the trading update it announced in March due
Read moreLondon open: Footsie starts down
28th May 2009 08:14
London's top stocks have started in the red as the US markets finished lower yesterday. Hedge fund manager Man Group is the biggest faller after it saw profits slide for the year. "The past financial year saw extraordinary turmoil in financial markets globally which put extreme stress on business
Read moreLondon pre-open: Strong start predicted
28th May 2009 07:52
Footsie is expected to rise in early dealings despite the sharp fall on Wall Street last night. Sugar and sweetener firm Tate & Lyle posted a sharp fall in profits after facing impairment charges and tough trading conditions.Profit before tax in the year to 31 March fell to £113m from £182m the pre
Read moreTate & Lyle profits fall after charges
28th May 2009 07:01
Sugar and sweetener firm Tate & Lyle posted a sharp fall in profits after facing impairment charges and tough trading conditions. Profit before tax in the year to 31 March fell to £113m from £182m the previous year even as revenues climbed to £3.55bn from £2.87bn. The fall in profits was largely d
Read moreSunday tips round-up: SSE, Compass, Tate & Lyle
24th May 2009 10:17
Shares in Scottish & Southern Energy are not going to leap and make you rich. There is likely to be a slow progression in its share price. There is one reason and one reason alone to hold the shares - and that is for a steady income stream and because of its commitment to a progressive dividend, S
Read moreLondon close: Miners and financials lead the way
19th May 2009 16:31
Strength among financial plays and miners guaranteed London gains Tuesday, although it had looked a close call following a weak start on Wall Street. A near-13% slump in US housing starts in April proved a drag mid-afternoon before US stocks regained their poise and moved higher. Anglo American fi
Read moreTate & Lyle upheaval continues
19th May 2009 15:02
The top two positions at sugar and sweeteners group Tate & Lyle will be occupied by new faces by the end of this year, following today's announcement that Javed Ahmed will be leaving Reckitt Benckiser to take over as Tate's new CEO. Ahmed is currently Executive Vice President, Europe for Reckitt Be
Read moreLondon afternoon: Shares off top after US housing starts shock
19th May 2009 14:15
Alarming US housing starts data looks set to put the kybosh on the prospect of a firm start on Wall Street and has had a knock-on effect in London, where share prices are coming off the top. Marks & Spencer remains the day's biggest blue-chip faller after it saw a sharp drop in pre-tax profits to
Read moreBroker tips: Tate & Lyle, Homeserve, Tullow Oil
19th May 2009 13:01
The poaching of highly regarded Javed Ahmed from Reckitt Benckiser to take over from Ian Ferguson as CEO at Tate & Lyle has given a rush to the share price of the sugar and sweeteners group. Broker Charles Stanley suggests that the arrival of two new brooms at the top - Ahmed will take over as chie
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