Editor's Picks
Premium tips: Aggreko, Topps Tiles, BHP Billiton...
Thursday 25 Aug 2011
Aggreko, the temporary power and temperature control supplier, delivered “another strong period of underlying growth” in the first half, according to Panmure Gordon, who upped its target price on the stock. “Our target price increases accordingly to 1918p (from 1861p); however, with just 9% implied upside the shares remain in hold territory for now and we would look for further share price
Tesco launches bond to raise money for China
Thursday 25 Aug 2011
Tesco announced it has raised around £70m through the launch of a Chinese Renminbi denominated bond issue in Hong Kong. The supermarket giant claimed the issue was the first of its kind by an international retailer and would be used to grow Tesco's retail operations in China. The maturity is three years and has a semi-annual coupon of 1.75% per annum.
Premium broker snap: Topps Tiles downgraded on profit warning by Peel Hunt
Thursday 25 Aug 2011
Following Topps Tiles’ trading update in which it warned on full-year profits, Peel Hunt has downgraded the group from buy to hold and almost halved its target price for the tile and wood flooring specialist.
FTSE 100 Movers: Share price up after IMI surpasses £1bn
Thursday 25 Aug 2011
The share price was soaring after a 12% increase in sales at global engineering firm IMI saw revenue top the £1bn mark in the first half.
London midday: Mixed reception for deluge of updates
Thursday 25 Aug 2011
London’s leading share index is uncertain today as the continuing stream of company updates gets a mixed reception.
No dividend for Playtech investors
Thursday 25 Aug 2011
Gaming software developer Playtech has chosen pass on paying a dividend until the final results for the year, blaming the move on exceptional strategic mergers and acquisitions and partnership opportunities currently under discussion. The company saw its first half revenue creep higher, from €72.8m to €76.3m, while pre-tax profit was only marginally up at €37.8m (2010 H1: €37.7m).
High street sales fall as confidence stays low
Thursday 25 Aug 2011
Retail sales volumes fell at the fastest pace in more than a year in the two weeks to 16 August, figures from the Confederation of British Industry (CBI) show, in another sign of the pressures facing the British consumer.
Europe midday: Banks wanted
Thursday 25 Aug 2011
European markets are higher across the board, on hopes of a new US financial stimulus package being announced this week at the Jackson Hole central bankers get-together.
Libyan civil war hurts Hikma
Thursday 25 Aug 2011
Disruption in Libya and Yemen contributed to a fall in profits at pharmaceuticals group Hikma in the half year to 30 June. Gross profit fell to $172.6m from $178.5m over the same period the previous year, on revenues that climbed to $394.8m from $377.7m. Gross profits in the company’s branded products division fell by $3m to $99.2m due to “lost sales in
TA: Apple not shaken to its core by Jobs's resignation
Thursday 25 Aug 2011
With Steve Jobs, the chief executive and co-founder of Apple, announcing his resignation on Wednesday (though he is set to remain on the board as chairman), now seems a good time to look at the share price performance of the consumer electronics colossus.
Smartphone boom boosts AZ Electronics
Thursday 25 Aug 2011
Strong demand for gadgets such as smartphones and flat screen TVs helped AZ Electronic Materials, a supplier speciality chemical materials to technological manufacturers, move into profit in the six months to 30 June.
Europe open: Across the board rises
Thursday 25 Aug 2011
European stocks have made another confident start, with most market benchmarks advancing by a percentage point or so, or close to it, as bulls continue to pin their hopes on a new US financial stimulus package being announced this week at the Jackson Hole central bankers get-together.
Emerging markets drive sales at Diageo
Thursday 25 Aug 2011
FTSE 100 drinks giant Diageo posted a 2% increase in sales in the year ended 30 June, as strong growth in the emerging markets outweighed more subdued conditions in Europe.
London open: Company results drive Footsie higher
Thursday 25 Aug 2011
Some pleasing company results drove the Footsie higher in early trading while the banks were also providing a lift. Kazakhstan-focused copper miner Kazakhmys was a high riser after it said underlying profits were 24% ahead in the first half and revealed details of a $250m buy-back programme. The group said the contribution from sector peer ENRC, in which it owns a 26% stake,...
Market overview: FTSE 100 up 44
Thursday 25 Aug 2011
0828: Strong gains for drinks giant Diageo led the Footsie higher in early trading. The group posted a 2% increase in sales in the year ended 30 June, as strong growth in the emerging markets outweighed more subdued conditions in Europe. Kazakhmys is also wanted after underlying profits jumped 24% in the first half and it unveiled details of a $250m share repurchase programme. Banks RBS, Lloyds
Confident AMEC hikes divi by 40%
Thursday 25 Aug 2011
A strong performance in its mining and power and process divisions, and increased activity in the UK North Sea, more than offset the anticipated reduction in activity levels within the oil sands and federal businesses of AMEC in the first half of 2011.
Confident AMEC hikes divi by 40%
Thursday 25 Aug 2011
A strong performance in its mining and power and process divisions, and increased activity in the UK North Sea, more than offset the anticipated reduction in activity levels within the oil sands and federal businesses of AMEC in the first half of 2011.
Kazakhmys's underlying profits jump 24%
Thursday 25 Aug 2011
Kazakhstan-focused copper miner Kazakhmys said underlying profits were 24% ahead in the first half and revealed details of a $250m buy-back programme. Underlying profit rose from $696m (£425m) to $866m (£528m), while underlying earnings per share (EPS) rose from $1.19 to $1.57. The group said the contribution from sector peer ENRC...
Commodities: Gold plunges 5.6%
Thursday 25 Aug 2011
Bullion staged a dramatic retreat on Wednesday, falling over $100 an ounce, as profit takers moved in.
Thursday newspaper round-up: Steve Jobs, UK consumers, Gold...
Thursday 25 Aug 2011
Steve Jobs, the co-founder of Apple, resigned as CEO of the company last night. In a resignation letter to the board, Mr Jobs, who has fought a long-running battle with cancer, wrote: “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know, writes the Telegraph.
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