Editor's Picks
London open: Randgold leads risers as Footsie gains 0.6%
Monday 22 Aug 2011
After slipping into the red in the opening minutes, the blue chip index quickly swung into the blue, recovering after the steep sell-off seen late last week. A surging gold price, which stands just below the $1,900 level drove FTSE 100 miner Randgold Resources to the top of the pile. Oilfield services group Petrofac ...
Balfour Beatty snaps up office design firm for £8m
Monday 22 Aug 2011
FTSE 250 infrastructure group Balfour Beatty has purchased office design firm Office Projects Group for a consideration of £8m.
Market overview: Footsie rallies
Monday 22 Aug 2011
0830: The Footsie has performed an abrupt turnaround and is now in positive territory, up 16 at 5,057, helped by a positive response to oilfield services firm Petrofac's bullish trading update.
IG boosted by recent volatility
Monday 22 Aug 2011
While creating a headache for most, the recent volatility in stocks markets has helped spread-betting firm IG Group achieve record levels of client activity in its first quarter. Despite it being holiday season in the majority of the group's markets, IG expects revenues to exceed £94m in the three months ending 31 August, up from £79.1m in the first quarter of last year.
Amlin swings to loss in catastrophic half
Monday 22 Aug 2011
Amlin swung to a deep loss in the six months ended 30 June, as a result of what the FTSE 250 insurance and reinsurance underwriter called "unprecedented first half catastrophe loss activity".
Monday newspaper round-up: Sage, Eurobonds, ICAP...
Monday 22 Aug 2011
British software giant Sage Group has lost out in a bidding battle for Australian firm MYOB after being trumped by US private equity firm Bain Capital. Bain yesterday reached an agreed deal to buy MYOB for an estimated £812million, beating rival approaches from Sage and US fund KKR, according to the Daily Express.
Amlin swings to loss in catastrophic half
Monday 22 Aug 2011
Amlin swung to a deep loss in the six months ended 30 June, as a result of what the FTSE 250 insurance and reinsurance underwriter called "unprecedented first half catastrophe loss activity".
London pre-open: Nervous start to the week
Monday 22 Aug 2011
Equities are set to make a nervous start to the week with City traders predicting the blue-chip share index will dip below the 5,000 level, having closed last week at 5,041. A lot of bulls will be pinning their hopes on Federal Reserve chairman Ben Bernanke pulling something out of the hat this week at the annual meeting of central bankers in Jackson Hole, Wyoming.
Costain acquires Promanex
Monday 22 Aug 2011
Engineering solutions provider Costain, has acquired 100% of the issued share capital of Promanex, an industrial support services business, for a consideration of £16.4m.
London pre-open: Nervous start to the week
Monday 22 Aug 2011
Equities are set to make a nervous start to the week with City traders predicting the blue-chip share index will dip below the 5,000 level, having closed last week at 5,041. A lot of bulls will be pinning their hopes on Federal Reserve chairman Ben Bernanke pulling something out of the hat this week at the annual meeting of central bankers in Jackson Hole, Wyoming.
Essar hails good operational performance
Monday 22 Aug 2011
Essar Energy, the India-focused integrated energy company, saw revenues soar by more than a third over the first half of 2011, primarily due to higher refining and marketing revenues, which offset lower power revenues.
Glaxo invests in UK biotech firm
Monday 22 Aug 2011
Pharmaceuticals giant GlaxoSmithKline is to buy up over a quarter of UK-based biotech firm Autifony Therapeutics through its wholly-owned subsidiary, Glaxo Group.
Monday newspaper round-up: Sage, Eurobonds, ICAP...
Monday 22 Aug 2011
British software giant Sage Group has lost out in a bidding battle for Australian firm MYOB after being trumped by US private equity firm Bain Capital. Bain yesterday reached an agreed deal to buy MYOB for an estimated £812million, beating rival approaches from Sage and US fund KKR, according to the Daily Express.
Sunday tips round-up: G4S, Gem Diamonds, Amec ...
Sunday 21 Aug 2011
Security firm G4S has a good record of performing in tough times. In the last downturn, its top line growth never fell below 2%, and it has typically expanded at two percentage points above gross domestic product, notes James Ashton in the Sunday Times. Half-year results this week are expected to show 4% underlying sales growth — not bad when some outsourcers are going backwards. That is made up
Sunday newspapers round-up: Anglo American, Foster's, QinetiQ ...
Sunday 21 Aug 2011
London-based mining giant Anglo American is to gatecrash the £3bn takeover battle for the Australian coal miner Macarthur, a move that will put it on a collision course with Lakshmi Mittal, the steel tycoon, reports the Sunday Times. Arcelor Mittal, the world’s largest steel maker — run by Lakshmi Mittal, one of Britain’s richest men — last month teamed up with Peabody Energy, the world’s biggest
US close: Stocks dive as worries resurface
Friday 19 Aug 2011
Wall Street’s main indices closed lower heading into the weekend on another volatile day.
Europe close: Bourses fall back
Friday 19 Aug 2011
Bourses closed lower on another tough day on the markets.
London close: Autonomy movement helps limit losses
Friday 19 Aug 2011
Stocks finished in the red heading into the weekend but off their daily lows, having bounced back into the blue from heavy losses earlier on. Today’s standout stock was Autonomy rocketed by over 75% in early trading after US computing giant Hewlett-Packard made a recommended offer for the Cambridge-based software firm, valuing it at around £7.09bn.
Broker snap: Peel Hunt assesses regulatory risks at BSkyB
Friday 19 Aug 2011
Despite the regulatory risks at British Sky Broadcasting (BSkyB), Peel Hunt kept its buy rating on the satellite broadcaster, noting that subscriber numbers have remained strong.
US mid-morning: HP plummets, but markets turn positive
Friday 19 Aug 2011
Despite an early decline, US stocks have pulled into the blue despite concerns over global economic growth. Technology stocks were the big movers of the morning, with Hewlett-Packard (HP) falling heavily after its third quarter results and blockbuster acquisition. The Down rose 20 points to 11,011, the Nasdaq climbed 17 to 2,090, while the S&P 500 was 7 higher at 1,147.
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