London afternoon: Stuck in consolidation mode
28th Oct 2010 14:53
After going into a slump just ahead of midday, Footsie picked up over the lunch time session, helped by expectations of a firm start on Wall Street. The Anglo-Dutch oil giant Royal Dutch Shell grew earnings by 18% in the third quarter compared with a year ago, while the underlying figure rocketed
Read moreFTSE 100 movers: ARM recovers
28th Oct 2010 12:57
Footsie is moving ahead today thanks to a wide range of companies. Chip designer ARM is clawing back some of its recent losses. Vodafone has spent another £21.7m on buying back shares. That takes the total spent since 16 September to £464.5m. The share price has risen by more than 8% in the past
Read moreLondon midday: Good morning for blue chips
28th Oct 2010 12:06
London has enjoyed a strong morning with gains widespread following Shell's reassuring figures. The Anglo-Dutch grew earnings by 18% in the third quarter compared with a year ago, while the underlyng figure rocketed 88% to $4.93bn, well ahead of market forecasts. Earnings, on a current cost of sup
Read moreSector movers: Telecoms in demand
28th Oct 2010 11:27
Mobile Telecommunications has had a good reception Thursday, with heavyweight Vodafone, ably supported by Inmarsat and minnow Mobile Streams. Big gun AstraZeneca is dragging down Pharmaceuticals & Biotechnology. Earlier today it reported a bigger than expected 4% drop in third quarter sales to $7.9
Read moreThursday newspaper round-up: Posen, BG, Eurozone crisis
28th Oct 2010 06:08
The coalition's deficit-cutting plans will deliver a "material" hit to British economic growth over the next two years, a leading Bank of England policymaker has warned. In an interview with The Times, Adam Posen, a member of the Monetary Policy Committee, said that the tax increases and spending
Read moreVodafone has 30 days to pay India $2.5bn tax bill
22nd Oct 2010 15:50
Vodafone has been given a 30-day deadline to pay a $2.5bn tax bill the Indian authorities say it owes following the acquisition of Hutchison Whampoa assets three years ago. The mobile phone giant is appealing against the decision, claiming the $11bn deal is not subject to taxation as it was struck
Read moreLondon close: Weak end to dull day
14th Oct 2010 16:35
Leading shares closed lower on a poor day for the banks and a tumble for African Barrick. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices are back on the rise as the dollar heads
Read moreLondon afternoon: Footsie bottoms out
14th Oct 2010 14:17
Leading shares trod water over the lunchtime session, leaving Footsie still stranded in the red. Banks remain in the doldrums. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls has unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices
Read moreFTSE 100 movers: Cash call fears hit banks
14th Oct 2010 14:00
Banks are leading the Footsie lower as investors worry that they will follow the lead of Standard Chartered and ask for more cash. RBS is the worst performer but Barclays and Lloyds are close behind. Miners are on the rise, except for African Barrick Gold, as metals prices are firming. Rio Tin
Read moreBroker tips: Vodafone, Standard Chartered, Ashmore
14th Oct 2010 13:01
Positive earnings momentum for Vodafone has seen Nomura Securities upgrade its earnings per share forecasts for the telecoms titan by 5-6%. "Strong cost reductions should drive organic earnings before interest, taxes, depreciation and amortization inflexion in the second half (+2% year-on-year) an
Read moreBroker snap: Positive earnings momentum for Vodafone
14th Oct 2010 12:05
Positive earnings momentum for Vodafone has seen Nomura upgrade its earnings per share forecasts for the telecoms titan by 5-6%. "Strong cost reductions should drive organic earnings before interest, taxes, depreciation and amortization inflexion in the second half (+2% year-on-year) and in the 20
Read moreLondon midday: Downward drift quickens
14th Oct 2010 11:56
US markets may be expected to open firmer but London is determined to go its own way today, heading lower, despite a buoyant mining sector. Metal prices are back on the rise as the dollar heads in the opposite direction. That is not enough to prevent gold miner African Barrick Gold taking a tumble,
Read moreLondon open: Quiet start ahead of jobs data
8th Oct 2010 08:52
London has opened quietly as traders focus on the US where September's non-farm payrolls numbers are due to be released this afternoon. Expectations are for a 5,000 increase in non-farm payrolls, while the unemployment rate is expected to nudge up to 9.7% from 9.6% in August. Until those numbers a
Read moreLondon pre-open: Waiting on US jobs data
8th Oct 2010 07:33
On what looks likely to be a quiet day for UK corporate news traders are focused on the US where September's non-farm payrolls numbers are due to be released this afternoon. Expectations are for a 5,000 increase in non-farm payrolls, while the unemployment rate is expected to nudge up to 9.7% from
Read moreVodafone in two bolt-on acquisitions
8th Oct 2010 07:05
Mobile phone networks operator Vodafone has snapped up two telecom expense management firms. Vodafone subsidiary Vodafone Global Enterprise has acquired Australian company Quickcomm and US firm TnT Expense Management. Quickcomm, which has offices in Australia, the US, UK and Singapore and has asse
Read more