London afternoon: Barclays hit by lawsuit
17th Dec 2009 13:55
Footsie remains deep in negative territory, and with US markets set to open lower, there is no prospect of a boost from Wall Street. Banks and miners are responsible for much of the blue-chip index's fall. Lloyds Banking is leading the fallers, while Standard Chartered and Barclays are also among t
Read moreLondon midday: Shares slip as banks and miners slide
17th Dec 2009 12:09
Falls across the board for the heavyweight bank and mining sectors are keeping Footsie firmly in the red. Lloyds Banking is leading the blue chip fallers, while Standard Chartered and Barclays are also among the worst performers. Among the miners, Antofagasta, Eurasian Natural Resources and Xstrat
Read moreLondon open: Banks and miners lead fall
17th Dec 2009 08:49
Weak miners and banking shares are leading London's top stocks lower in early dealings on Thursday. UK shares were expected to start the session in the red after Wall Street fell following the latest Federal Reserve rate decision and stimulus update. The central bank said interest rates would stay
Read moreLondon pre-open: Weak start on the cards
17th Dec 2009 07:35
UK shares looks set to start the session in the red after Wall Street fell following the latest Federal Reserve rate decision and stimulus update. The central bank said interest rates would stay low for some time, although it upgraded its estimate for the US economy and will continue to rein back s
Read moreWood Group to meet forecasts
17th Dec 2009 07:03
With just two weeks to go before the year end, oil and gas facilities service provider Wood Group believes 2009 earnings will be in line with expectations. It thanked a "robust" performance from its production support related businesses, with development related engineering activities, subsea and p
Read moreThursday preview: Arriva, Travis Perkins, Wood Group
16th Dec 2009 15:08
Rail and bus group Arriva issues a trading statement in which the bus division is expected to outperform the rail side. In the nine months to September 30 it saw 4.9% revenue growth at is bus division, while in the 42 weeks to October 24 it saw 1.3% growth at the Cross Country rail franchise and 6.
Read moreLondon close: Flat finish for sluggish Footsie
9th Oct 2009 16:31
Footsie ended the week without any real sense of direction, holding onto gains posted earlier in the week. Vedanta Resources was the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilities were lower than Goldman had expected. Lower industri
Read moreLondon afternoon: Vedanta leads miners lower
9th Oct 2009 14:29
Mining stocks remain a proverbial albatross round the market's neck, dragging the Footsie below last night's closing level despite some interest in consumer stocks. Vedanta Resources is the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilit
Read moreLondon midday: Flat morning for Footsie
9th Oct 2009 12:05
London ended the morning session flat with good demand for consumer stocks offsetting some profit taking among mining shares Losses on mining stocks such as Antofagasta, Vedanta and Kazakhmys have lengthened during the session as metal prices remain on a downward trajectory. Gold has fallen back f
Read moreLondon open: Consumers help Footsie progress
9th Oct 2009 08:45
Footsie has shrugged off some profit taking among the miners and more bank weakness to open higher, with consumer stocks leading the way. Gains for Whitbread, Kingfisher and Next are helping Footsie push on despite Lloyds and Royal Bank of Scotland. Both state-controlled banks have been unsettled b
Read moreLondon pre-open: Footsie points lower
9th Oct 2009 07:37
Footsie looks set to open around 20 points lower after closing at its highest in over a week yesterday. Troubled sportswear retailer JJB Sports has confirmed reports it is to raise £100m through an equity issue. In a brief statement, JJB said its board has reviewed a range of options to provide add
Read moreWood Group on track
9th Oct 2009 07:02
Oilfield services company Wood Group believes its 2009 performance will be in line with expectations and said it remains confident in the medium and longer term fundamentals for the business. However, the group warned that activity and margins at its development related engineering activities will
Read moreFriday preview: Caution expected from bullish Wood Group
8th Oct 2009 16:34
Oilfield services company Wood Group earlier this month bought Baker Energy, the energy services business of US company Michael Baker Corporation. It says the purchase will make it the market leader in the provision of operations and maintenance services in the US Gulf of Mexico. However, despite t
Read moreWood buys deepwater specialist
1st Oct 2009 07:49
Oilfield services company John Wood Group has bought Baker Energy, the energy services business of US company Michael Baker Corporation. Wood Group is paying $37.9m in cash for Baker Energy, which provides a spectrum of operations and maintenance services to numerous oil and gas operators. Revenue
Read moreSunday tips round-up: Wood Group, Wincanton, Mothercare
30th Aug 2009 11:51
Wood Group's shares are trading on a December 2009 earnings multiple of 11.9, but this rises to 12.8 next year when earnings are expected to trough. The company upped its interim dividend by 11pc, but the yield is just 1.8pc after the recent strong gains. The long-term story is intact, but the Teleg
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