Friday newspaper round-up: IMF, Europe banks, business buddies
23rd Sep 2011 06:06
The head of the International Monetary Fund yesterday warned world leaders that they are running out of time to prevent another global slump and urged them to rediscover a "collective momentum" in order to head off disaster. Speaking in advance of the opening of the IMF's annual conference in Washin
Read moreLondon close: Oil stocks pull Footsie above 5,300
7th Sep 2011 16:26
Oil stocks were the star performers on a decent day for the Footsie, which clawed its way back above the 5,300 mark, helped by a better start on Wall Street. The oil companies were leading the rise on Wednesday, with Tullow Oil, Essar Energy and BP being helped by a rising oil price. Drilling in
Read moreFTSE 100 Movers: Oil stocks lead the rise
7th Sep 2011 12:51
The oil companies were leading the rise on Wednesday afternoon, with Tullow Oil, Essar Energy and BP among the better performers on the blue chip index, helped by a rising oil price. BP rose after drilling results confirmed a significant resource extension of The Mad Dog Field complex in the Gulf o
Read moreWPP makes market research acquisition
7th Sep 2011 09:22
Advertising giant WPP, led by chief executive officer Martin Sorrell, has acquired market research technology firm Global Market Insite (GMI) for an undisclosed sum. GMI will be aligned with Lightspeed Research, a division of WPP's wholly-owned information, insight and consultancy group Kantar, whi
Read moreWPP makes offer for stake in Japanese peer
30th Aug 2011 07:35
Acquisitive marketing and advertising group WPP is at it again, this time making a non-binding offer to acquire Japanese peer Astatsu-DK's stake in DA Consortium (DAC). Astatsu-DK has announced its intention to sell the stake, and WPP has stepped in with an offer worth 36,550 yen per share. WPP ho
Read moreLondon close: Results drive stocks higher, Man up after upgrade
24th Aug 2011 16:38
Stocks finished with good gains after an uncertain start, with strong economic data from the US overriding the earlier mixed reception to today's raft of company updates. US orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fa
Read moreLondon midday: Stocks mixed after stream of updates
24th Aug 2011 12:10
The leading share index is flitting between red and blue amid differing receptions for today's stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is hig
Read moreLondon open: Admiral drags Footsie into the red
24th Aug 2011 08:29
Early gains proved short-lived as the blue chip index in London fell into the red by 08.32, dragged lower by Admiral and the miners, who were registering losses on the back of falling metals prices. Admiral was the worst performer on the FTSE 100, losing over 5% after despite pre-tax profits growi
Read moreLondon pre-open: Footsie bandwagon rolls on
24th Aug 2011 07:18
Encouraged by Wall Street's solid showing overnight, UK shares are set to continue their recent revival, with City traders predicting the top-share index will open at around 5,174, up 45 points from last night's close. Car insurer Admiral announced record half-year figures, with profit before tax 2
Read moreWPP's profits jump 37%
24th Aug 2011 07:12
Advertising and marketing group WPP, led by chief executive Sir Martin Sorrell, said the "post-Lehman bounce-back" has continued as it posted pre-tax profit growth of 37% on sales that grew 6.1% in the six months to 30 June. "Despite recent uncertainties, these results continue the post-Lehman bou
Read moreBroker tips: Resolution, WPP, Carillion,
22nd Aug 2011 12:25
UBS thinks that things could take a while to improve for insurance buyout firm Resolution and slashes its target price for the stock by 14%. Resolution's life business made a 4.5% return on embedded value in the first half of 2011, less than the year before and significantly under the 10% target, t
Read moreBroker snap: Nomura expects guidance reduction at WPP
22nd Aug 2011 12:09
Nomura expects advertising giant WPP to cut its forecasts when it publishes its first half results on 24 August, but says that the markets have already anticipated this. The broker expects full-year organic growth to be 4.7%, and predicts that the company will give up on its 6% growth guidance. "G
Read moreWPP takes control of Campaigns and Grey
4th Aug 2011 08:12
Global advertising agency WPP is set to acquire further shares in Campaigns and Grey (C&G), one of the Philippines' leading advertising agencies. The move, to be effected through WPP subsidiary Grey, a full service communications agency, means WPP will now hold a majority rather than minority stak
Read moreLondon close: Debt hopes boost markets
20th Jul 2011 16:39
Shares moved higher on both sides of the Atlantic amid hopes that European and US leaders are making progress towards agreeing solutions to debt problems. It was US corporate news that boosted today's star sector in London though. Chip companies ARM Holdings and Imagination Technologies sizzled aft
Read moreLondon midday: Chip stocks sizzle as Apple impresses
20th Jul 2011 12:16
Shares are posting strong gains today as the spotlight moves from Europe's debt woes to the US, where traders are optimistic lawmakers will reach agreement on cutting the world's biggest economy's deficit. Chip companies ARM Holdings and Imagination Technologies in particular are taking their lead
Read more