Editor's Picks
Commodities: Weak data pressures crude prices
Friday 27 May 2011
Crude oil futures settled lower on Thursday following a string of disappointing economic reports on the US recovery.
Friday newspaper round-up: Consumer confidence, G8, Inflation...
Friday 27 May 2011
Britain's consumers became far less gloomy over the past month with the royal wedding, good weather and the realisation that their mortgages would not be going up coinciding with the second-biggest improvement in consumer confidence in recent times. The latest snapshot of household sentiment from Gfk NOP Social Research showed that overall sentiment picked up from -31 to -21 during May...
US close: Tech stocks lead the comeback
Thursday 26 May 2011
After a weak start, US benchmark indices drove higher as gains from tech stocks outweighed disappointing economic figures.
Europe close: Bourses lower as Greek crisis rolls on
Thursday 26 May 2011
European markets fell into the red after a strong start as a result of disappointing economic news from the US and the ongoing troubles in Greece. Banking stocks across the continent were mixed.
US mid-morning: Sell US, buy Slovenia and Indonesia
Thursday 26 May 2011
The main New York equity benchmarks are now trading ‘mixed’ (Dow Jones Industrials: -38, Nasdaq Comp.: +5, S&P 500: -2), following the release of weaker than expected macroeconomic indicators in the pre-open.
IAG non-exec opens account with £2.5m purchase
Thursday 26 May 2011
A round-up of the biggest director deals today so far.
Doubled divi at KCOM
Thursday 26 May 2011
Hull-based telecoms group KCOM leapt to a 52-week high on the back of a 40% increase in profits and a doubling of the full-year dividend.
Vehicle armour saves QinetiQ
Thursday 26 May 2011
Defence group QinetiQ has leapt back into the black and reinstated its dividend.
Commodities: Soft dollar fuels interest in oil, gold
Thursday 26 May 2011
Crude oil futures gained almost 2% on Wednesday as investors mulled a report showing signs of increased US diesel and heating oil consumption and as the dollar dipped against major currencies.
US Midmorning: Sell US, buy Slovenia and Indonesia
Thursday 26 May 2011
The main New York equity benchmarks are now trading ‘mixed’ (Dow Jones Industrials: -38, Nasdaq Comp.: +5, S&P 500: -2), following the release of weaker than expected macroeconomic indicators in the pre-open. To be had into account as well, risk premia in the Euro Zone periphery are once again retreating, at least for now. Potentially quite relevant, the apparent peace overtures today by authorities in Tripoli.
Broker tips: Shanks, Enterprise Inns, KCOM
Thursday 26 May 2011
Peel Hunts says that 2010/11 results from Shanks were 7% ahead of expectations after the waste management firm made "substantial" progress over the past 12 months, in regards to "expansion, contract wins, cash generation, cost reduction and financial stabilisation."
London close: FTSE 100 edges higher again
Thursday 26 May 2011
The FTSE 100’s hesitant performance since Monday’s dive has continued, with the top share index closing just a few points higher. Among the risers was Man Group whose adjusted profit before tax rose to $599m in the year to 31 March from $560m the year before, ahead of company guidance. Statutory profit before tax tumbled to $324m from $541m.
London midday: Stocks clinging on despite mixed updates
Thursday 26 May 2011
Stocks are holding onto their modest early morning gains, after a mixed reception for company updates. Among the risers is Man Group whose adjusted profit before tax rose to $599m in the year to 31 March from $560m the year before, ahead of company guidance. Statutory profit before tax tumbled to $324m from $541m.
Market overview: FTSE 100 back above 5,900
Thursday 26 May 2011
0950: Hedge fund Man Group is on top of the pile after full-year pre-tax profit at hedge fund manager Man Group came in at just under $600m, higher than the group had indicated at the time of its pre-close trading statement, but luxury fashion label Burberry is left on the shelf despite posting a sharp rise in profits. FTSE 100 up 34 at 5,904.
Trading picks up at Shanks
Thursday 26 May 2011
Waste management firm Shanks reported a stronger than expected 6% increase in underlying pre-tax profit for 2011 as demand for its services improved.
Thursday tips round-up: Hogg Robinson, BTG, Aveva
Thursday 26 May 2011
Business travel is one of the first to be hit by any economic downturn, as less business means less travel. Hogg Robinson took immediate action when the crunch came, cutting its cost base by 20%. A final dividend of 1p makes a total up by a quarter to 1½p, well covered, giving a historic yield of about 2.5% and the board is offering a better return in due course. But the market’s scepticism may
Thursday tips round-up: Hogg Robinson, BTG, Aveva
Thursday 26 May 2011
Business travel is one of the first to be hit by any economic downturn, as less business means less travel. Hogg Robinson took immediate action when the crunch came, cutting its cost base by 20%. A final dividend of 1p makes a total up by a quarter to 1½p, well covered, giving a historic yield of about 2.5% and the board is offering a better return in due course. But the market’s scepticism may
London midday: Stocks clinging on despite mixed updates
Thursday 26 May 2011
Stocks are holding onto their modest early morning gains, after a mixed reception for company updates.
Europe midday: banks provide some cheer
Thursday 26 May 2011
Stocks failed to push on after a bright start, and most indices are off the top and, in the case of the DAX in Germany, in arrears. The CAC 40 in Paris is up 8 points at 3,937 while Spain's IBEXX 35 index is 67 points heavier at 10,285. The DAX is down 12 at 7,158, with deliveries firm Deutsche Post leading the retreat. Car makers Volkswagen and BMW are also stuck in reverse.
Caribbean clouds at C&W Comms
Wednesday 25 May 2011
The first year of independence saw earnings remain virtually static at Cable and Wireless Communications (CWC), largely as a result of a more difficult Caribbean market than the telecoms group expected at the time of its demerger. Group revenue in the year ended 31 March rose 4% to $2,440m from $2,346m the year before.
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