R.G. | ShareCast | 24 Nov, 2010 12:25 - Updated: 15:13 | | |
Shares remain in the blue after some well-received company updates this morning, although the euro crisis is still looming in the background.
Credit ratings agency Standard & Poors (S&P) has cut its debt rating for Ireland as the Irish government puts the finishing touches to a four-year plan to slash its deficit. Banks are here are mixed with Lloyds and Royal Bank of Scotland higher, but Barclays is in the red.
Among todays risers on the back of company updates is Compass, which has upped its dividend by a third as cash and new business flowed through the contract caterer's door over the past year. Revenues rose by 7.6% to £14.5bn in the year to September, with underlying growth of 3.2%.
Platinum giant Johnson Matthey is showing a bit of sparkle after it saw good growth in most of its markets in the first half, especially catalysts for cars in North America and Asia. Profit before tax rose to £144.1m in the half-year to 30 September from £109.5m the year before.
Capital Shopping Centres, formerly part of Liberty International, is slightly lower after has confirmed it is close to agreeing the purchase of Manchesters Trafford Centre in a deal worth £1.6bn.
Interim results from water supplier United Utilities were slightly ahead of management expectations. In the six months to 30 September the company made an underlying profit before tax of £196.2m, down from £258.2m the year before.
Away from the FTSE 100, buy-to-let mortgage lender Paragon reported a sharp increase in full year profit on strong rental demand, a decrease in its provision for losses and as the turmoil of the credit market crisis continues to fade.
Sportingbet, the online bookie, is higher after saying it continues to see strong growth in the in play side of the business. Amounts wagered in the three month period to 31 October the groups first quarter rose 10.9% to £513.9m from £463.2m the year before, with the sums bet on sporting events in play rising 27%.
HaiKe Chemical, a China-based manufacturer of petrochemicals, speciality chemicals and biochemicals, has seen a 'material improvement' in trading in all of its businesses since its last half-year. The company posted an interim loss of $21.2m, against a profit of $10.8m, but following the recent improvement HaiKEe expects to recoup most of the first half deficit by the year-end.
FTSE 100 - Risers
Intertek Group (ITRK) 1,859.00p +6.05%
Compass Group (CPG) 553.00p +4.83%
Capita Group (CPI) 676.00p +2.97%
Burberry Group (BRBY) 1,032.00p +2.38%
Schroders (SDR) 1,614.00p +2.28%
Essar Energy (ESSR) 505.50p +2.27%
Kazakhmys (KAZ) 1,421.00p +2.16%
Experian (EXPN) 741.00p +2.14%
Rolls-Royce Group (RR.) 611.00p +2.09%
Xstrata (XTA) 1,293.00p +1.81%
FTSE 100 - Fallers
Capital Shopping Centres Group (CSCG) 344.20p -3.18%
Aviva (AV.) 377.80p -1.43%
BAE Systems (BA.) 334.80p -1.18%
African Barrick Gold (ABG) 518.00p -0.86%
Barclays (BARC) 262.05p -0.83%
Fresnillo (FRES) 1,414.00p -0.77%
Resolution Ltd. (RSL) 225.10p -0.75%
Imperial Tobacco Group (IMT) 1,937.00p -0.72%
Prudential (PRU) 586.50p -0.68%
United Utilities Group (UU.) 613.50p -0.65%
FTSE 250 - Risers
Provident Financial (PFG) 831.00p +7.23%
Yell Group (YELL) 12.82p +3.81%
Paragon Group Of Companies (PAG) 164.80p +3.32%
Aberdeen Asset Management (ADN) 178.40p +2.88%
Dixons Retail (DXNS) 25.78p +2.55%
Talvivaara Mining Company (TALV) 521.50p +2.46%
Yule Catto & Co (YULC) 238.90p +2.44%
Unite Group (UTG) 192.90p +2.33%
COLT Group SA (COLT) 124.80p +2.30%
Kenmare Resources (KMR) 24.54p +2.25%
FTSE 250 - Fallers
Taylor Wimpey (TW.) 23.52p -3.01%
Atkins (WS) (ATK) 692.50p -2.88%
Grainger (GRI) 91.00p -2.88%
International Personal Finance (IPF) 300.00p -2.82%
Cable & Wireless Worldwide (CW.) 63.20p -2.62%
Barratt Developments (BDEV) 69.35p -2.26%
Rightmove (RMV) 735.00p -2.00%
Premier Foods (PFD) 16.99p -1.85%
Jupiter Fund Management (JUP) 265.20p -1.78%
Mondi (MNDI) 462.80p -1.74%
Steven Carter, the group chief executive of Informa, has significantly increased his holding in the company with the addition of 31,324 shares to his stake in the group.
27 Nov Thursday broker round-up
Amlin: Numis upgrades to 'buy' with a target price of 535p.
19 Nov Wednesday broker round-up
Amlin: Numis downgrades from 'buy' to 'add' with a target price of 535p.
Business publisher Informa has drummed up a less-than-hoped £207m from institutional investors as it added to its exhibitions businesses with the cash acquisition of Hanley Wood for £237m.
AstraZeneca: Deutsche Bank increases target price from 4100p to 4350p and reiterates its hold recommendation.
Retail stocks were putting in a strong performance on Tuesday after data from BRC-Springboard showed the decline in UK retail footfall eased to 0.9% in September from a 1.1% drop in August. Stocks such as Debenhams, Home Retail, Just Eat, WH Smith and Halfords were all in positive territory.
African Barrick Gold: JP Morgan cuts target price from 340p to 300p and stays with its overweight rating.
A solid third-quarter from business media group Informa has kept it on track to hit full year results, with its events business strength counterbalancing weaker business intelligence performance.
Alfred Moellenbeck, the managing director of Informa's euroforum business will retire at the end of this year after 25 years with the group.
Kenneth Bohlin, the chief executive officer of Informa's financial information (IFI) arm, has decided to retire at the end of the year.