London close: Ten out of ten for Footsie
24th Jul 2009 17:13
The FTSE 100 index made it ten days of rises in a row, despite tailing off towards the close as investors looked to bank profits ahead of the week-end. It capped the best rally by the blue-chip index in five years. The rise was achieved despite dismal gross domestic product data. UK output contract
Read moreTechnical Analysis: Water stocks get a soaking
24th Jul 2009 16:06
This week's decision by Ofwat to propose cuts in water bills between 2010 and 2015 has seen the publicly quoted shares in the water sector take a hit. The fear is that the companies' profitability will be hit as the regulator has stipulated that the planned £21bn of investment will not be affected
Read moreLondon afternoon: Financials find favour
24th Jul 2009 14:11
Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of
Read moreLondon midday: London shrugs off GDP shock
24th Jul 2009 11:54
After a shaky opening the market is moving steadily ahead, despite receiving a jolt from much worse than expected gross domestic product (GDP) figures. Output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Office for National Statistics' flash est
Read moreLondon open: Quiet start for Footsie
24th Jul 2009 08:46
Footsie has opened lower despite big gains overnight in the US and Asia and also a well-received trading update from Vodafone. Vodafone said revenue rose 9.3% in the quarter to June, helped by positive exchange rate movements and M&A activity. The group also said it is trading in line with manageme
Read moreLondon pre-open: Lower start expected
24th Jul 2009 07:39
Footsie is expected to give up some of strong recent gains in early dealings. Vodafone said revenue rose 9.3% in the quarter to June, helped by positive exchange rate movements and M&A activity. The group also said it is trading in line with management's outlook issued in May 2009 for the current f
Read moreUnited Utilities to maintain dividend
24th Jul 2009 07:04
Water supplier United Utilities said it is on course to continue its dividend payment policy after a successful year in a challenging economic environment. The day after regulator Ofwat outlined its proposals for all the water companies' price plans over the next five years, United said trading in
Read moreFriday newspaper round-up: FSA, Lloyds/RBS, National Express
24th Jul 2009 06:11
The world's biggest banks could be penalised with onerous surcharges, forcing them to set aside proportionately far more capital than smaller rivals, Lord Turner of Ecchinswell, chairman of the Financial Services Authority, suggested yesterday. Lord Turner, speaking after the FSA's annual meeting,
Read moreLondon close: US surge extends Footsie's winning streak
23rd Jul 2009 16:32
Footsie's winning streak extended to nine days as US markets surged ahead on better than expected June home sales and forecast-busting results from a number of US household names. Trading had been quiet up until mid-afternoon, but as soon as the US markets started to pick up buyers returned in earn
Read moreLondon afternoon: Footsie regains 4,500
23rd Jul 2009 13:46
The Footsie's eight day winning streak looks set to become nine days as the blue chip index hit 4,500 again amid more gains for US stocks. On the positive side, miners Fresnillo, Kazakhmys, Vedanta Resources, Rio Tinto, BHP Billiton, ENRC, Xstrata and Lonmin are all among the top ten risers on hope
Read moreFTSE 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 moreLondon open: Water groups fall
23rd Jul 2009 08:17
London's top stocks have opened slightly lower, with utilities among the main fallers after Ofwat called for lower water bills. The water regulator outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities is leading the fa
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
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