Date: Tuesday 05 Apr 2011
- Market Movers
- techMARK 1,901.44 +0.14%
- FTSE 100 6,007.06 -0.16%
- FTSE 250 11,737.66 -0.25%
LONDON (ShareCast) - London’s leading share index finished in the red on a sluggish, but things could liven up later in the week following the release of the minutes from the last US Federal Reserve meeting tonight.
Among the fallers in the FTSE 100 was British Airways owner IAG, which announced that high oil prices have forced it to increase the fuel surcharge on long-haul flights.
Passengers travelling on world traveller flights in economy class will now have to stump another £10 a flight. That takes the surcharge up to £95 for flights of less than nine hours and to £116.50 for longer flights. On first class flights, the surcharge will rise by £20, to £125 on long-haul flights of less than nine hours and to £145 on longer flights.
Music and film retailer HMV continues to struggle against tough conditions on the high street and competition from supermarkets and digital downloads. It said it expects profits before tax for the full year to come in at £30m. In a trading update last month HMV predicted pre-tax profits would be “moderately below” market expectations of £45m. The company has also been given more headroom by its lenders though, and the share price fall is not as severe as it might have been.
Elsewhere in retail though, shares in Home Retail Group moved higher after some stake-building by US private equity group Madison Dearborn Capital Partners stoked takeover talk.
M&A chatter also lifted TUI Travel, the owner of Thomson and other holiday brands. Its parent group, Germany’s TUI AG, is said to be considering selling its stake in the shipping group Hapag-Lloyd.
Shares in EnQuest are higher. The UK-focused oil and gas group said it was “very disappointed” with the government’s decision to increase taxes on North Sea oil firms, though it remains confident of delivering on its 2011 targets. The high oil price and increased production helped push the company’s revenues up to $614.4m in 2010, from $319m the previous year. Pre-tax profits soared to $71.5m from $24.6bn.
The London Stock Exchange is to sell Servizio Titoli, a provider of shareholder management services to listed companies in Italy, to Computershare for €30m. A further consideration, up to a maximum of €2.4m, may be payable on completed of the deal, which is expected in May.
Advertising giant WPP is buying a minority stake in Canadian firm Vice Holdings, a global youth media brand that operates in more than 30 countries.
Specialist healthcare company BTG said results for the year to end-March will be in line with previously stated guidance. Revenue is expected to fall somewhere in the range of £108m to £114m, with recurring revenue accounting for around £98m to £102m of that.
The recent natural disasters in New Zealand, Japan and Australia could result in Amlin facing claims of as much as £275m, according to estimates released by the underwriter. Amlin estimates that the second earthquake in New Zealand will result in it facing claims of £110m, while claims resulting from the earthquake and tsunami in Japan are likely to come in at between £80m and £150m. Net claims from the floods in Queensland, Australia, are seen amounting to about £15m.
Online marketing group Asia Digital – which operates through two digital advertising divisions, DGM and AKTIV, saw shares tumble by a quarter on Tuesday after offloading an Australian unit of DGM that accounted for 70% of revenues in 2010.
A cheery trading update helped specialist brick supplier Michelmersh Brick build big gains Tuesday. “Michelmersh is pleased to report that orders, sales and production of brick products in the first quarter of 2011 were ahead of budget and the Board is encouraged for the prospects for 2011,” the company said.
FTSE 100 - Risers
Vedanta Resources (VED) 2,518.00p +4.39%
Resolution Ltd. (RSL) 303.80p +3.19%
ICAP (IAP) 541.50p +2.85%
ARM Holdings (ARM) 588.50p +2.62%
TUI Travel (TT.) 228.50p +2.42%
Randgold Resources Ltd. (RRS) 5,225.00p +2.35%
Man Group (EMG) 248.50p +1.97%
Cairn Energy (CNE) 469.70p +1.62%
Essar Energy (ESSR) 469.00p +1.60%
SABMiller (SAB) 2,270.50p +1.50%
FTSE 100 - Fallers
Invensys (ISYS) 344.00p -2.22%
ITV (ITV) 78.05p -2.19%
IMI (IMI) 1,038.00p -1.98%
Aggreko (AGK) 1,645.00p -1.97%
United Utilities Group (UU.) 589.50p -1.83%
National Grid (NG.) 589.00p -1.83%
Severn Trent (SVT) 1,451.00p -1.56%
Vodafone Group (VOD) 176.15p -1.51%
Compass Group (CPG) 555.00p -1.51%
International Consolidated Airlines Group SA (IAG) 221.00p -1.47%
FTSE 250 - Risers
Tate & Lyle (TATE) 589.50p +3.24%
CSR (CSR) 381.50p +3.11%
Carpetright (CPR) 677.50p +2.73%
Centamin Egypt Ltd. (CEY) 138.70p +2.51%
Dignity (DTY) 710.00p +2.45%
Devro (DVO) 286.40p +2.29%
Savills (SVS) 380.70p +2.26%
Hansteen Holdings (HSTN) 88.40p +2.20%
Moneysupermarket.com Group (MONY) 90.80p +2.14%
Dunelm Group (DNLM) 408.00p +2.10%
FTSE 250 - Fallers
Keller Group (KLR) 619.50p -4.47%
Kesa Electricals (KESA) 111.80p -3.45%
Taylor Wimpey (TW.) 40.24p -3.22%
Shanks Group (SKS) 114.00p -2.98%
Domino's Pizza UK & IRL (DOM) 412.80p -2.87%
Cable & Wireless Worldwide (CW.) 51.55p -2.83%
Chemring Group (CHG) 692.00p -2.81%
Cranswick (CWK) 768.00p -2.78%
Barratt Developments (BDEV) 112.30p -2.77%
Kenmare Resources (KMR) 46.04p -2.75%
Email this article to a friend
or share it with one of these popular networks: