London close: Resurgent Footsie breaches 5,500 points
3rd Mar 2010 16:52
A good start on Wall Street helped jolt Footsie out of its sluggish start, helping the leading share index close above 5,500 points for the first time since January. Asia-focused bank Standard Chartered, the only FTSE 100 company to deliver results today, led the way after it defiantly said it will
Read moreFTSE 250 movers: Arriva motors forward
3rd Mar 2010 14:35
Rail and bus group Arriva has sped ahead even after it saw profits fall by 19% in 2009 as it weathered the recession and dealt with the effects of a heavy increase in fuel costs. Housebuilder Taylor Wimpey falls back after it said full year pre-tax losses widened but added the first two months of t
Read moreLondon afternoon: Footsie ambles into positive territory
3rd Mar 2010 13:56
The blue-chip index moved into positive territory over the lunchtime trading session helped by expectations of a firm start on Wall Street. Asia-focused bank Standard Chartered, the only FTSE 100 company to deliver results today, defiantly said it will pay its executives bonuses after another recor
Read moreLondon midday: Market remains mixed
3rd Mar 2010 11:51
The market's indecision this morning was typified by the insurance sector where the blue-chip index's best and worst performers were to be found. RSA Insurance is the weakest blue-chip after the company said yesterday that it expects to make around £30m in payouts as a result of the Chilean earthqu
Read moreUnite stuck in the red
3rd Mar 2010 08:20
Unite, the student accommodation developer and manager, met forecasts for rental growth in 2009, although writedowns on the value of development property kept the group firmly in the red. Like-for-like rental growth of 9.7% was in line with forecasts for 7-10%, while occupancy rates for the 2009/10
Read moreUnite to raise £150m
1st Dec 2009 14:52
Student accommodation developer and manager Unite said it is in the final stages of raising about £150m to fund the expansion of its property portfolio. Binding subscription agreements have already been received for £133m from major third party institutional investors. In addition, the property fu
Read moreJorge Cosmen raises National Express stake
20th Nov 2009 17:28
Shares in National Express raced ahead after deputy chairman Jorge Cosmen increased his family's influence over the company, spending more than £1.7m on shares in the train and bus operator. He bought just over 500,000 shares at 341p a time and now has about 29m, which is just shy of 20% of the com
Read moreFriday tips round-up: National Grid, Unite, BG
20th Nov 2009 06:36
National Grid prides itself on a highly risk-averse business model, and yesterday's half-year results go some way to vindicating the strategy. And there is plenty more to come. The integration of the $12bn purchase of KeySpan in 2007 is not yet complete but is on track for $200m-worth of annual sav
Read moreSmall caps round-up: Unite, Styles & Woods, Renewable Energy Generation...
19th Nov 2009 15:30
Student accommodation developer Unite Group says that like-for-like rental growth is 9.7% for the 2009-10 academic year. Reservations of 96.5% have been achieved even though 2,800 beds were added for the latest academic year. Unite is negotiating to acquire sites in London that will provide up to
Read moreStudent accommodation resilient, says Unite
7th Oct 2009 08:23
Student accommodation developer and manager Unite reported a 0.4% rise in net asset value per unit between June 30 and September 30, reflecting an increase in property values. The firm said 97% of bed space is now occupied for the 2009/10 academic year, compared with 99% over the same period the pr
Read moreFriday tips round-up: Kingfisher, Kier, Unite
18th Sep 2009 06:45
While Kingfisher's shares are not cheap and trade on a forecast 2010 price-to-earnings ratio of 16.3, they have actually fallen back recently from their peak over the past year. Given that trading in the second half is likely to be kinder in the UK and other markets, compared with last autumn, Kin
Read moreBroker tips: British Airways, Tullow Oil, Unite
17th Sep 2009 13:03
The share price of British Airways has almost doubled since the beginning of July but broker Goldman Sachs says there is still time for investors to get on board. The US investment bank has added the British airline to its 'conviction buy' list, and suggested that despite the strong gains already
Read moreBroker snap: Unite raises funds for London expansion
17th Sep 2009 13:01
Highly geared student accommodation firm Unite has eased its debt position through an £82m fund raising exercise, giving it more scope to take advantage of depressed property prices in London. The company said the proceeds from the firm placing and open offer will be used to fund the acquisition of
Read moreUnite seeks London bargains
25th Aug 2009 08:25
Student accommodation firm Unite is looking to buy up development sites in London at 'attractive' prices and has scrapped the interim dividend to save cash. The firm lost £29.4m before tax during the six months to 30 June, up from £11.5m a year ago, although recurring profit grew to £3.5m from a lo
Read moreUnite rental growth to be 7-10%
15th May 2009 09:55
Student accommodation firm Unite said rental growth will be in the range of 7-10% across its assets on a like for like basis in 2009/2010. The group said there is continued strong lettings performance for the 2009/2010 academic year with reservations on a like for like basis up 1% to 74%. It added
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