Editor's Picks
Antofagasta misses targets in the first quarter
Wednesday 04 May 2011
While mining giant Antofagasta saw a year-on-year improvement in copper production in the first quarter, the amount came short of targets, causing shares to take a tumble on Wednesday.
Gem Diamonds and Lucara end talks
Wednesday 04 May 2011
Gem Diamonds is no longer in merger talks with the Canada-listed miner Lucara Diamond, it said today.
Sunshine and Royal Wedding lift Next
Wednesday 04 May 2011
Warm weather and the Royal Wedding holiday had shoppers flocking to Next’s stores in the 13 weeks to 30 April, the fashion retailer Next said as it reported better sales than expected for the period. Total sales for the period excluding VAT were up by 5.2% from the same period the previous year, ahead of guidance given in March of between -0.5% and +2.5%.
Smiths Group shares drop on order delays
Tuesday 03 May 2011
Medical devices and airport scanners maker Smiths Group took a tumble late on Tuesday after it announced that trading at Smiths Detection has fallen short of expectations. Shares dropped in the afternoon session following the announcement which also revealed that the divisional president Stephen Phipson will leave with immediate effect, and the group is already looking for a permanent replacement.
Aggressive rate hike by RBI; rates biased higher
Tuesday 03 May 2011
The Russian central bank is not the only one to have surprised markets with a rate rise these past few days. This past night The Reserve Bank of India (RBI) has done so as well, increasing its key policy rates by 50 basis points each, instead of the 25 bp rise expected by markets. The above at a moment when inflationary pressures are rising the world over, but particularly in some emergng
Funds flow in at FCAM
Tuesday 03 May 2011
Assets under management at F&C Asset Management edged higher in what was a tumultuous first quarter.
Downside surprise in UK Manufacturing PMI
Tuesday 03 May 2011
The headline seasonally adjusted Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell to a seven-month low of 54.6 in April. This is down from a revised reading of 56.7 in March and well below January’s survey-record high, according to Markit.
William Hill makes another Nevada acquisition
Tuesday 03 May 2011
The US may be infertile territory for bookmakers, but sports betting is legal in the desert state of Nevada and William Hill is seeking to tap into the market. The bookmaker has signed an agreement to acquire US betting group Brandywine. The agreement comes after William Hill’s recent announcement that it has signed binding agreements to acquire two sports betting businesses in the state.
Hot weather melts Thorntons' profit
Tuesday 03 May 2011
Chocolate maker and retailer Thorntons warned that profit for the year would be lower than expected as soaring temperatures hurt demand during its key Easter period.
Profit surges 54% at Aberdeen Asset
Tuesday 03 May 2011
Shares of fund manager Aberdeen Asset Management rose 3% after it said assets under management grew to £181.2bn for six months to 31 March 2011 from £170.9bn while pre-tax profit surged 54%.
NAV holds steady at UK Commercial
Tuesday 03 May 2011
UK Commercial Property Trust, the largest UK focused commercial property trust, saw no change in its net asset value (NAV) per share in the first quarter of 2011.
Tandem revenue slips as profits rise
Tuesday 03 May 2011
Sports and leisure equipment firm Tandem said revenue for the year ended 31 January fell 3% while pre-tax profit increased.
FX round-up: Dollar loses ground against euro
Tuesday 03 May 2011
The dollar fell against the euro Monday, in volatile trading, as markets mulled news of Osama bin Laden's death after a raid in Pakistan by US Special Forces.
Commodities: Crude retreats after Bin Laden death
Tuesday 03 May 2011
Crude oil futures settled slightly lower Monday as markets considered that impact of Osama bin Laden's death on stability in the Middle East, in particular his native Saudi Arabia.
DES rejects back door bid for RGI
Tuesday 03 May 2011
It looks like another attempt by rebel shareholder Petr Shura to gain control of RGI,the AIM-listed developer of quality residential and retail properties within Moscow and the surrounding areas, has been thwarted.
London pre-open: London to resume on firm note
Tuesday 03 May 2011
After the long week-end London is set to open modestly firmer with City sources suggesting the blue-chip index may open around 16 points up from Thursday's close of 6,070.
Compass acquires Swedish food service group
Tuesday 03 May 2011
Catering giant Compass has added to its overseas operations with the acquisition of a food service business in Sweden. It will pay 16m (£1.6m) Swedish Kroner for BGP Resurs, which is based in northern Sweden and serves business, industry and leisure sectors. BGP posted revenues of 26.5m SEK in 2010.
US Close: Stocks cap off an excellent month of April
Friday 29 Apr 2011
The main US stock benchmarks closed higher again today (Dow Jones: 47.23, S&P 500: 3.1, Nasdaq Composite: 1), despite the large fall seen in index heavy-weight Microsoft´s shares and a barrage of mixed economic indicators. The S&P 500 thus capped off a very strong 2% rise for the week and ended April up by 2.9%. The Nasdaq Composite, for its part, advanced 1.9% for the week, and posted
Hyperactivity drug sales boost Shire
Thursday 28 Apr 2011
Speciality pharmaceuticals group Shire posted a strong rise in sales and profits in the first quarter with its hyperactivity treatments driving revenues higher. Total revenues were up by 19% from the same period a year ago at $972m (£588m), while earnings per ADS (American Depositary Receipt, a means for US investors to buy shares in foreign companies) rose 25% to $1.11.
WPP ups full-year guidance
Thursday 28 Apr 2011
Despite tougher comparatives in the second half, advertising giant WPP has upped its guidance for the full year after a strong first quarter which saw revenues rise by 7%.
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