Editor's Picks
Broker snap: Credit Suisse cautious about 2012 at Glaxo
Wednesday 08 Feb 2012
Credit Suisse has trimmed its current-year forecasts for pharmaceuticals giant GlaxoSmithKline following yesterday’s release of its 2011 results, with the broker saying that a “cautious 2012 outlook may disappoint”.
London midday: Stocks up as investors await news from Greece
Wednesday 08 Feb 2012
Reckitt, miners and banks provide a lift on the FTSE 100. Big movers on the FTSE 250 drag index into the red. Markets await news from Greek meetings.
Broker snap: Solid results from Reckitt, says Nomura
Wednesday 08 Feb 2012
Cillit Bang maker Reckitt Benckiser reported better-than-expected headline earnings per share (EPS) and good top-line growth momentum in its full-year results today, according to Nomura which reiterated its buy recommendation on the consumer products giant.
Rio's earnings held back by $5.8bn aluminium impairment
Wednesday 08 Feb 2012
Mining giant Rio Tinto has hiked its full-year dividend by 34% after reporting record underlying earnings in 2011, however net earnings were held back by a massive $5.8bn impairment charge relating to its aluminium business.
Sanofi sees Q4 profit rise but expects a drop in 2012
Wednesday 08 Feb 2012
French pharmaceuticals giant Sanofi-Aventis has revealed that it expects EPS (earnings per share) to drop between 12% and 15% in 2012, despite having registered an improvement in the fourth quarter of last year due mainly to sales in emerging markets.
Commodities: Oil rises to three week high
Wednesday 08 Feb 2012
Crude oil futures soared to their highest level in three weeks after gaining for a third consecutive session, with hopes of a rising demand for oil lifted by a decline in US jobless claims and the agreement reached by Greek leaders over austerity measures.
FTSE 250 movers: Cable and Wireless dives 14%
Wednesday 08 Feb 2012
Telecoms firm Cable & Wireless Communications plunged as the revival of the firm came to an abrupt halt after the company warned on profits this morning due to difficulties in trading in Panama and the Caribbean.
Broker snap: Solid results from Reckitt, says Nomura
Wednesday 08 Feb 2012
Cillit Bang maker Reckitt Benckiser reported better-than-expected headline earnings per share (EPS) and good top-line growth momentum in its full-year results today, according to Nomura which reiterated its buy recommendation on the consumer products giant.
Wednesday tips round-up: Xstrata, 888, TalkTalk
Wednesday 08 Feb 2012
The last time Mick Davis, Xstrata’s chief executive, proposed an all-share merger of equals, Cynthia Carroll, Anglo American’s chief executive, politely declined. Now Xstrata shareholders are in a similar position. They should politely decline this initial offer too, reckons the Daily telegraph's Questor column.
North America and LNG to dampen Intl. Power's growth
Wednesday 08 Feb 2012
International Power, the UK power generator which is 70% owned by French utility GDF SUEZ, claimed to have put in a strong performance in 2011 but the market begged to differ.
Homeserve to cut 200 jobs as struggles continue
Wednesday 08 Feb 2012
FTSE 250 emergency repair group Homeserve has assured that full-year profits will be in line with expectations in spite of its recent travails that are still preventing the group from restarting some marketing operations.
Polymetal pays off JV partner, takes full-ownership of Veduga
Wednesday 08 Feb 2012
Russian precious metals group Polymetal International has terminated a joint venture after buying up the remaining 50% stake owned by South Africa-based AngloGold Ashanti for $20m.
FX round-up: Euro hits two-month high against dollar
Wednesday 08 Feb 2012
The euro raced to a two-month high against the dollar on Tuesday on hopes that Greece is finally reaching a deal on austerity measures that will steer it away from a default.
London pre-open: FTSE 100 to take lead from US
Wednesday 08 Feb 2012
City sources predict the FTSE 100 will open up 13 points from yesterday's close of 5,890, taking its cue from the Dow Jones industrial average, which last night closed at its highest level since May 2008, as hopes rose that Greece is close to agreeing austerity measures.
Rio Tinto approves $3.4bn Pilbara expansion
Tuesday 07 Feb 2012
Mining giant Rio Tinto has committed a further $3.4bn to the expansion of its Pilbara iron ore operations in western Australia.
FTSE 100 movers: Glenstrata deal hits shares in both firms
Tuesday 07 Feb 2012
Both Xstrata and Glencore both fell today as battle lines were drawn over the Glenstrata merger. The opening salvos have been fired in the battle for value over the proposed $90bn merger between the two commodity giants. On one side are the shareholders of Glencore and the managements of both companies (who hold large stakes in their firms). The other faction is made up of unhappy institutional
Reckitt identifies 16 'power markets'
Tuesday 07 Feb 2012
Cillit Bang maker Reckitt Benckiser said it exceeded its full year targets in 2011, as it announced a strategy for 'continued out-performance'.
GSK misses sales forecast
Tuesday 07 Feb 2012
GlaxoSmithKline, Britain’s biggest pharmaceuticals firm, saw sales growth of 2% over the whole of 2011, on a constant exchange rate basis.
Mixed bag at BHP Billiton - UPDATE
Tuesday 07 Feb 2012
There was something for both the bulls and the bears in mining titan BHP Billiton's interim results, with underlying pre-tax earnings ahead of expectations while the bottom line number was shy of what the market had been anticipating.
Battle lines drawn over Glenstrata merger
Tuesday 07 Feb 2012
The opening salvos have been fired in the battle for value over the proposed $90bn merger between commodity giants Glencore and Xstrata.
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