London close: Shares slump as Libya worries linger
23rd Feb 2011 16:52
More weakness in the US helped send shares in London sharply lower, with the Libyan crisis and the consequent higher oil price weighing on sentiment. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm, though it has dipped down below $109 again since then. The $3+
Read moreFTSE 250 movers: C&W higher after Bermuda disposal
23rd Feb 2011 15:52
The pick of the bunch today is Cable & Wireless Communications, which has gained 7% after selling its operating business in Bermuda for $70m. The telecoms firm will buy back $100m worth of shares following the sale. Fund manager Gartmore is higher despite its assets under management at the end of 2
Read moreLondon afternoon: Oil lubricates slippery slope
23rd Feb 2011 14:22
An attempted rally in the morning was already fizzling out as the afternoon started, and prices continued to drift lower over the lunchtime trading session, as investors continue to fret about the higher oil price. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm
Read moreLondon midday: Shares stuck lower amid Libya worries
23rd Feb 2011 12:02
The higher oil price amid continuing turmoil in Libya is helping to keep shares in the red, though company updates have been given a mixed reception. Brent crude hit over $107 per barrel, up 1% today, as the violence and rhetoric in Libya increased. Libyan leader Muammar Qaddafi vowed to fight a gr
Read moreLondon open: Libya casts pall over blue chips
23rd Feb 2011 08:51
London has opened with Libya on its mind amid fears that the unrest sweeping through the country and the Middle East could destabilise Bahrain as well. Brent crude hit over $107 per barrel, up 1% today, as the violence and rhetoric in Libya increased. Libyan leader Muammar Qaddafi vowed to fight a
Read moreTravis Perkins wary despite bright start
23rd Feb 2011 07:37
Profits jumped by a fifth last year at builders' merchant and DIY shed group Wickes owner Travis Perkins as all 11 of its businesses performed better than the market, though merchanting was the star. Group revenue rose by 8% at £3.2bn, and 5% higher on a like-for-like basis. Adjusted profit before
Read moreWednesday preview: BoE minutes, Logica, Rexam
22nd Feb 2011 16:37
With each month that passes the release of the minutes of the meeting of the Monetary Policy Committee (MPC) become more eagerly anticipated, as the consensus view of the rate-setting committee starts to fragment. The Bank of England's quarterly inflation report last Wednesday conceded that the ce
Read moreLondon close: Highest finish for FTSE 100 since 2008
14th Dec 2010 16:38
London's leading share index finished at its highest closing level in more than two years as buoyancy in the US helped shake Footsie out of its early sluggishness. Better than expected retail sales in the world's biggest economy in November heartened traders. Here, it was company updates that sen
Read moreLondon afternoon: Shares clinging on after US open
14th Dec 2010 15:26
Shares have crept higher after a decent start on Wall Street, but the gains are modest amid a mixed reception for company updates. Whitbread, the company behind Costa Coffee and the Premier Inn hotel chain, posted another strong set of numbers though there were a few signs of weakness and the share
Read moreFTSE 250 movers: Imagination Tech rises higher
14th Dec 2010 15:09
Chipmaker Imagination Technologies is on the rise after it announced, alongside its half year results, that it would buy Caustic Graphics for $27m to bring 3D graphics to mobile phones. Imagination posted record half-year revenues and profits after strong growth from both licensing and royalties. A
Read moreLondon midday: Shares little changed
14th Dec 2010 12:01
Company updates have given investors plenty to mull over today, but shares are little changed overall. Whitbread, the company behind Costa Coffee and the Premier Inn hotel chain, posted another strong set of numbers though there were a few signs of weakness and the shares have fallen. Another boo
Read moreLondon open: Flat start for blue chips
14th Dec 2010 08:50
A dull start for Footsie was predicted and that's how it has turned out with the weak ending on Wall Street keeping buyers quiet. The Dow Jones had been trading near two-year highs when London closed, but ended with a lead of just 18 points. In UK company news, Go-Ahead, the company that operates
Read moreTravis Perkins issues weather warning
14th Dec 2010 07:56
Travis Perkins, the builders' merchant buying plumbing supplies firm BSS for £½bn, grew turnover by 6.5% in the 11 months to 30 November, though snow has affected business this month. The owner of the Wickes DIY chain said it continues to gain like-for-like market share in both its merchanting and
Read moreOFT accepts Travis sell offs
10th Dec 2010 16:05
The Office of Fair Trading has accepted undertakings from builders' merchant Travis Perkins that will resolve the competition concerns about the merger with BSS Group. There were no competition concerns at a national level but there were in 20 local areas. The builders' merchant has offered to s
Read moreWednesday tips round-up: Severn Trent, Travis Perkins, Renold...
24th Nov 2010 06:48
Behind the as-expected headlines, water firm Severn Trent has a good story to tell. Most importantly, given the new pricing structure, Severn Trent's cost-cutting plans are on track. Operating expenditure is also in line with forecasts, and below the level set by the regulator. With a price-earnin
Read more