Editor's Picks
London pre-open: Yesterday's gains to disappear
Thursday 20 Oct 2011
The top-share index is set to give back all of yesterday's gains and more at the outset, with City sources predicting the FTSE 100 will open down 80 points or so from yesterday's close of 5,450, after last night's lacklustre showing on Wall Street.
Petrofac on track to meet targets
Thursday 20 Oct 2011
Petrofac, the FTSE 100 provider of facilities to the oil and gas production industry, has continued to perform in line with expectations in the year-to-date, the firm has announced.
Thursday newspaper round-up: Bank recapitalisation, Sarkozy/Merkel, Vince Cable...
Thursday 20 Oct 2011
Europe’s grand plan to strengthen its banking system is set to fall well short of market expectations, identifying a capital shortfall of less than €100bn that must be made up over the next six to nine months, according to the latest official estimates. The European Union’s estimate of the necessary recapitalisation effort compares with a recent Inernational Monetary Fund report that identified a
Thursday tips round-up: Diageo, GKN, Bowleven...
Thursday 20 Oct 2011
Trading statements from Diageo have, in the past, tended to be on the stodgy side, according to the Tempus column in the Times. When you are the world’s biggest drinks behemoth, with brands such as Johnnie Walker, Smirnoff vodka and Captain Morgan rum, updates tend to involve low-digit rises and falls in this market or that. But there has been more momentum behind its performance in recent months
US close: Lower finish amid earnings stream
Wednesday 19 Oct 2011
Stocks are slightly lower in spite of some better than expected housing data after yesterday’s earnings from Apple disappointed investors and the ongoing European debt saga frayed nerves.
BowLeven shares drop after fund raising
Wednesday 19 Oct 2011
Oil and gas company BowLeven took a tumble after announcing plans to raise $120m through a placing of 77.5m new shares at 103p each.
London close: Banks buoyed by bailout beef-up
Wednesday 19 Oct 2011
Footsie enjoyed a buoyant if unspectacular day, with almost two-thirds of its constituents finishing in the blue.
FTSE 100 Movers: GKN drops after profits rise just 1%
Wednesday 19 Oct 2011
GKN was the biggest loser on the FTSE after announcing a pre-tax profit rise of just 1% in the third quarter.
Eurozone construction slows down in August
Wednesday 19 Oct 2011
Eurozone construction output increased by just 0.2% in the month of August, well below the 1.8% growth seen the month before, according to data from Eurostat.
Aurum shares rocket as firm strikes gold
Wednesday 19 Oct 2011
Shares in gold miner Aurum jumped 23% this morning after it announced it had had significant success with drilling at its Spanish joint venture.
Broker tips: GKN, BSkyB, Home Retail
Wednesday 19 Oct 2011
GKN was the worst performer on the FTSE 100 at midday on Wednesday, despite Investec expecting the market to “take comfort” in the group’s latest ‘in line’ update.
Europe midday: EFSF rumours provide a lift
Wednesday 19 Oct 2011
Markets in Europe continued to rise into the afternoon, as speculation over the expansion of Eurozone rescue fund fuelled the optimistic mood. However, gains on the Ibex in Madrid were not as pronounced as other benchmarks across the continent, following last night’s move by Moody’s to downgrade Spain’s credit rating.
Diageo sees sales growth
Wednesday 19 Oct 2011
Diageo, the FTSE 100 drinks company behind such brands as Guinness, Red Stripe and Baileys, saw sales growth of 9% in the three months to 30 September.
London midday: Stocks stay buoyant
Wednesday 19 Oct 2011
Shares are buoyant today, winning back some of the previous day’s losses despite ongoing worries over the Eurozone.
London open: RBS, Barclays and Lloyds lead the way
Wednesday 19 Oct 2011
Greece has been crippled by strikes. Spain’s debt has been downgraded by Moody’s. And EU officials say no deal has been reached on scaling up the Eurozone fund. But for now London’s leading share index is in positive territory.
BHP Billiton ups iron ore output
Wednesday 19 Oct 2011
Mining giant BHP Billiton has followed peer Xstrata’s lead in issue a mixed quarterly production update.
BskyB posts quarterly profit rise
Wednesday 19 Oct 2011
Satellite TV, landline and broadband supplier BSkyB saw a strong rise in profits in the quarter to 30 September as it increased sales of all three products.
London pre-open: Moderate rise predicted
Wednesday 19 Oct 2011
The Footsie is expected to reverse Tuesday's decline with a more positive start on Wednesday, ahead of the release of the minutes from the most recent meeting of the Monetary Policy Committee.
Wednesday tips round-up: Bellway (x2), UBM (x2), Xstrata
Wednesday 19 Oct 2011
In the year to the end of July, Bellway completed sales of 4,922 units; four years ago the figure was a record 7,638 units. Last year’s figure was itself an advance of only 7% over the previous year, a time heavily impacted by economic uncertainties around the election. Welcome to the new normal, then. Bellway, like other builders, has responded by concentrating on the South East, a market that
Wednesday newspaper round-up: RBS/Lloyds, Mervyn King, Lord Wolfson
Wednesday 19 Oct 2011
Companies are cutting their business with the taxpayer-owned lenders Royal Bank of Scotland and Lloyds amid fears that the cost of borrowing will rise after the recent ratings downgrade by Moody’s. The Association of Corporate Treasurers told MPs yesterday that corporate borrowers had already begun talking to rival overseas loan providers, including Japanese banks keen to secure a stronger
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