Editor's Picks
Steve Jobs waves goodbye to Apple
Thursday 25 Aug 2011
Steve jobs, co-founder and chief executive officer (CEO) of US technology giant Apple and Silicon Valley icon, has decided to call it a day, due to ongoing health problems. He will stay on as chairman of the board, effective immediately. "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, ...
US close: Bank of America leads late surge
Thursday 25 Aug 2011
Some upbeat economic data was enough to keep the US equity revival on the road, with the Dow Jones notching up a triple digit gain after putting in a late spurt.
Europe close: Bourses buoyed ahead of close
Wednesday 24 Aug 2011
Bourses were buoyant at the close of play as decent US economic figures heartened traders.
London close: Results drive stocks higher, Man up after upgrade
Wednesday 24 Aug 2011
Stocks finished with good gains after an uncertain start, with strong economic data from the US overriding the earlier mixed reception to today's raft of company updates. US orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fallen by 1.3% the previous month. Here, investors in Admiral
Sector movers: Admiral drives down non-life insurance stocks
Wednesday 24 Aug 2011
A huge 13% fall in Admiral’s share price on Wednesday was weighing down the non-life insurance sector.
US open: Durable goods data boosts stocks
Wednesday 24 Aug 2011
US stocks are higher after some well-received durable goods data. Orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fallen by 1.3% the previous month. In stocks news, jeans retailer American Eagle’s wings are clipped after it posted a fall in second quarter profits as the high cotton price squeezes margins
FTSE 100 movers: Admiral on the rocks
Wednesday 24 Aug 2011
Africa-focused oil giant Tullow Oil reported a huge surge in sales and profits in the six months ended 30 June, helped by increased production from the Jubilee field off Ghana and higher commodity prices.
Thursday tips round-up: Admiral, Melrose, Pennon...
Wednesday 24 Aug 2011
Admiral's shares suffered yesterday, says the Investment Column at the Independent. The company reported high headline numbers: first-half profits of £16.6m were 27 per cent ahead of the same period last year, while turnover rose by 53 per cent to £1.1bn. But some analysts expected better for the shares to justify their lofty rating. Their main worry was the cost of big personal injury claims
US pre-open: Stocks to fall back
Wednesday 24 Aug 2011
US stocks are set to open lower though some decent durable goods orders data should soften the blow. Orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fallen by 1.3% the previous month. In stocks news, jeans retailer American Eagle posted a fall in second quarter profits as the high cotton price squeezes margins.
Premium broker snap: Singer favours Melrose offer for Charter
Wednesday 24 Aug 2011
Singer Capital Markets has placed its rating and numbers under review at bid target Charter International, following a potential counter offer for the FTSE 250 industrial engineering firm.
Europe midday: Investors waiting on Jackson Hole
Wednesday 24 Aug 2011
European markets remain mixed but slightly firmer on balance, as investors await developments from the Jackson Hole Economic Policy Symposium, which is due to start tomorrow.
Broker tips: Admiral, ARM, Punch
Wednesday 24 Aug 2011
Despite the tumble in Admiral’s share price on Wednesday, Nomura has reiterated its positive stance on the stock, saying that headline results from the car insurer came in more or less in line.
London midday: Stocks mixed after stream of updates
Wednesday 24 Aug 2011
The leading share index is flitting between red and blue amid differing receptions for today’s stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is higher after seeing a 35.9% jump in revenue in the year ended June. The final dividend was upped by 22%
Broker snap: iPhone 5 to boost volumes at ARM, says Merchant
Wednesday 24 Aug 2011
Chip designer ARM Holdings was given a boost on Wednesday on speculation that Apple’s new iPhone 5 could boost outlook, according to Merchant Securities.
Moody's cuts Japanese rating by one notch
Wednesday 24 Aug 2011
Debt ratings agency Moody's has lowered Japan's credit rating by one notch to Aa3 from Aa2, mostly due to the country's deficit and debt accumulation since the 2009 recession. However, the outlook remains at 'stable'.
Filtrona confident after profits grow
Wednesday 24 Aug 2011
Speciality plastic and fibre products supplier Filtrona said it well placed for further growth despite economic uncertainty as it posted a rise in revenues and profits. In the six months to 30 June, revenue jumped to £268.6m from £247.6m over the same period the previous year, while pre-tax profits rose to £39.5m from £34.6m. The dividend was raised by 10% to 3.3p from 3p.
Unite hails London resilience
Wednesday 24 Aug 2011
The economic divide between London and the rest of the UK appears even to extend to the student accommodation sector, judging by Unite Group’s half year results.
Diageo raises Halico stake to 30%
Wednesday 24 Aug 2011
FTSE 100 drinks giant Diageo, famous for its Guinness-branded stout, is to acquire an additional 5.07% interest in Vietnamese spirits group Halico for £6.4m, taking its total stake to 30%.
Europe open: Heineken leaves sour taste
Wednesday 24 Aug 2011
European markets have opened higher but not in a very convincing fashion, with IFO data for Germany underwhelming.
Market keel-hauls Admiral despite record results
Wednesday 24 Aug 2011
The share price of car insurer Admiral was showing a few dents on Wednesday morning despite unveiling record interim results. The share price fell 74p to 1,461p at the outset of trading, despite a 27% increase in half-year pre-tax profit to £160.6m from last year's £126.9m. Turnover jumped 53% to £1.1bn from £720.5m the year before.
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