FTSE 100 movers: Petrofac shares lifted by Credit Suisse upgrade
29th Sep 2014 16:06
Credit Suisse drove Petrofac shares higher after upgrading the stock from 'neutral' to 'outperform', target 1,340p. However, analysts at Morgan Stanley wrote that the return of aggressive bidding by contractors as they seek more MENA work - given slowdowns elsewhere – may impact Petrofac's order int
Read moreTesco moves to secure £2.5bn crisis warchest
29th Sep 2014 13:31
Tesco has lined up a £2.5bn banking facility as a preventive measure in case of possible ratings downgrades. According to a Sky News report, the UK's biggest retailer has signed up between four to six banks to a new credit facility intended at providing an insurance policy, as the group seeks a solu
Read moreLondon midday: StanChart and HSBC lower on Hong Kong protests
29th Sep 2014 11:36
London's blue chip stocks were holding slightly lower come midday ahead of the release of the latest figures on personal income and spending Stateside, as traders kept an eye on recent events in Hong Kong. That comes in what is expected to be a very busy week both at home and abroad in terms of econ
Read moreAldi sales continue to rise thanks to increasing market share
29th Sep 2014 11:06
Discount food retailer Aldi has posted another jump in annual pre-tax profit as it continues to race ahead in the price war with the so-called "big four" supermarkets. Aldi reported a record £260.9m for 2013, although this represented a slowing down of growth by almost half compared to that se
Read moreMonday newspaper round-up: Hong Kong, Royal Dutch Shell, BP
29th Sep 2014 07:10
Hong Kong's leader made a dramatic appeal for calm last night, seeking to quash rumours that China's army was preparing to intervene in the pro-democracy protests that brought chaos to the former British colony. With tens of thousands of people blockading the centre of the city last night, several l
Read moreSunday newspaper round-up: Tesco, RBS, IAG
28th Sep 2014 21:05
The whistleblower who alerted Tesco to its accounting problem tried to do so before but was ignored, the Sunday Times reported. The accountant, reporting to Tesco's UK Finance Director, Carl Rogberg, raised concerns with superiors during ex-chief executive Philip Clarke's time in charge but "failed
Read moreFTSE 100 movers: Easyjet shares take off thanks to comments from Jefferies
26th Sep 2014 16:23
Shares in Easyjet flew higher after Jefferies said the airline was situated to benefit from the recent problems with Air France-KLM, which has been forced to cancel numerous flights due to pilot strike action. The broker also predicted the group would have a positive finish to the year. Astrazeneca
Read moreLondon midday: BAE Systems leads gains on geopolitical worries
26th Sep 2014 12:14
The Footsie had reverted to positive higher by midday ahead of the release of two first-tier economic indicators in the States on Friday afternoon. UK equities traded lower throughout the better part of the morning, ignoring overnight losses in US markets which saw the Dow Jones Industrials and S&P
Read moreTesco's former finance director to receive £1m payoff
26th Sep 2014 09:49
Tesco's former finance director, Laurie McIlwee will receive a £1m farewell payoff next week, despite the latest scandal surrounding the retail giant. McIlwee, who left Tesco in April and was told to stay away from the office, will receive his payoff as stipulated in his contract, even though he rec
Read moreLondon open: Footsie slips as Russia threatens immediate retaliation
26th Sep 2014 08:54
The Footsie slipped quickly into the red after the start of trading on Friday, with US stocks having fallen deeper into the red for the month of September overnight amid on-going geopolitical concerns about both Russia and Iraq. Vladimir Putin has demanded that the European Union re-open a trade pac
Read moreFriday paper round-up: Lloyds, TSB, Tesco, Sainsbury's, Putin
26th Sep 2014 07:03
teerngasLloyds Banking Group has kickstarted a share sale in its TSB banking division, which will leave the bailed-out bank with a 50% stake in TSB, The Daily Telegraph reported on Friday. Lloyds sold 38.5% of TSB in June, with shares priced at 260p each, and has announced it will sell an additional
Read moreLondon close: FTSE 100 declines as mining stocks fall on dollar advance
25th Sep 2014 17:14
teerngasLondon's top shares tumbled on Thursday as the rising dollar took its toll on mining and energy stocks. The FTSE 100 Index closed 66.56p points adrift at 6639.71 as the greenback bounced on speculation of monetary stimulus from the European Central Bank (ECB) and US interest rate hikes. Spe
Read moreLondon open: Tesco still in the news, as euro continues to slip
25th Sep 2014 09:29
UK stocks have begun the session with the slightest of gains, with investors focusing on remarks by European Central Bank President Mario Draghi, to a Lithuanian publication, to the effect that the ECB could implement additional easing measures. That comes as the euro/dollar slips below the 1.28 dol
Read moreParliament may probe Tesco as BlackRock dumps shares and grocer reveals CFO left in April
25th Sep 2014 08:05
Tesco board members could be brought before parliament to explain the £250m black hole in the company's accounts, a senior MP has said, with ex-chief executive Philip Clarke perhaps also asked to give evidence. The parliamentary business committee may demand a full investigation into retail industry
Read moreLondon pre-open: FTSE to open marginally higher after US data, Fed speech
25th Sep 2014 07:42
UK stocks are expected to start Thursday's session with modest gains, thanks to a dovish speech from a Fed member and strong US housing data released the previous day. City sources predict the FTSE 100 will open around three points higher than Wednesday's close of 6,706.27. The anticipated rise com
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