Sector movers: Melrose lifts engineering sector
10th Mar 2010 14:25
Strong results from Melrose help lift the industrial engineering sector higher. Engineering conglomerate Melrose said the acquisition of FKI is working out better than expected for thee, helping it lift headline profits rise by almost two-thirds in 2009. Revenue advanced to £1,298.5m from £895.3m
Read moreLondon close: Late rally limits losses
9th Mar 2010 16:36
A strong early performance from US shares helped Footsie recover from earlier weakness to close only slightly lower on a U-shaped day for the leading share index. Sentiment had earlier been dented by weak economic news. Data from the Office for National Statistics showed the UK's deficit on trade i
Read moreLondon afternoon: Footsie meanders in the red
9th Mar 2010 14:18
Disappointing UK trade figures knocked Footsie early with little help likely from the US as futures point to a weak start on Wall Street. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than
Read moreLondon midday:Trade figures derail rally
9th Mar 2010 12:05
Disappointing trade figures announced at 9:30 nipped an attempted rally in the bud and shares spent the rest of the morning in retreat. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than ec
Read moreFTSE 250 movers: Weir leads the way
9th Mar 2010 11:38
Weir is the top riser in the FTSE 100. The weakness of sterling helped the engineering group Weir grow revenues in 2009 and post a record operating profit. Revenue in 2009 grew 3% to £1,390m from £1,354m in 2008, but was down in 7% in constant currency (CC) terms. The car dealer Inchcape is motorin
Read moreLondon open: Quiet opening for Footsie
9th Mar 2010 08:37
London has opened quietly with buyers content to watch the stream of results from FTSE 350 stalwarts. Shopping centre owner Liberty International is to split into two separate listed businesses, Capital Shopping Centres and Capital & Counties through a demerger. Satellite communications service pr
Read moreAftermarket sales bolster Weir
9th Mar 2010 07:53
The weakness of sterling helped engineering group Weir grow revenues in 2009 and post a record operating profit. Revenue in 2009 grew 3% to £1,390m from £1,354m in 2008, but was down in 7% in constant currency (CC) terms. Order input in CC terms was 18% lower at £1,302m on a like for like basis. O
Read moreWednesday tips round-up: Tesco, Balfour Beatty, Dechra
13th Jan 2010 06:36
Tesco is leagues ahead of its UK competition in terms of global reach, scale and ambition. In fact, it is the only UK supermarket with any overseas operations at all, and one of just a few British retailers with international stores. The stock trades on a 2011 price earnings ratio of 13.2 times.
Read moreWeir gets late boost but still cautious
12th Jan 2010 08:06
Engineer Weir now expects underlying profits for 2009 to come in higher than market forecasts at around £185m after a good performance in the final quarter, but it remains very cautious over the outlook for 2010. "While the group enters 2010 in a strong position, with some positive emerging trends
Read moreFTSE 250 movers: Debenhams climbs before update
11th Jan 2010 15:25
Department store Debenhams is a top riser ahead of tomorrow's interim management statement, but engineer Weir, which also updates tomorrow, is the heaviest faller. With oil at a 15-month high, shares in Lamprell, the provider of specialist engineering services to oil and gas firms, are higher. FT
Read moreJon Stanton named Weir's new FD
11th Jan 2010 08:01
Engineering group Weir announced the appointment of Jon Stanton as its new finance director. Stanton, who joins from Ernst & Young where he has worked since 1988, will join in the Spring following completion of existing client commitments. 'I am delighted to welcome Jon to the board where his fi
Read moreLondon close: Footsie down but above 5,000
3rd Nov 2009 16:24
London's blue chips ended off session lows and back above the 5,000 level, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remained resolutely out of favour, however, as the market reacted negatively to the revised terms of its part
Read moreLondon afternoon: Market licking its wounds
3rd Nov 2009 14:11
The FTSE 100 index clawed its way back above the 5,000 level over the lunch-time session, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remains resolutely out of favour, however, as the market reacted negatively to the revised ter
Read moreLondon midday: Retreat turns into a rout
3rd Nov 2009 12:08
The list of FTSE 100 constituents is bereft of risers, as stocks move swiftly into reverse while the market digests developments relating to the part-nationalised UK banks. The government is injecting another £25.5bn into Royal Bank of Scotland (RBS), with a further £8bn available if things get wo
Read moreWeir sees profit at upper end of forecasts
3rd Nov 2009 07:51
Engineering group Weir said it expects fourth quarter profit to come in at the upper end of market expectations after a strong third quarter performance. The group, which supplies engineering services to the mining and oil & gas industries, said cost cuts and the weaker pound helped trading in the
Read more