Editor's Picks
Alliance Trust shifts away from UK
Monday 27 Sep 2010
Alliance Trust has reduced its holdings in UK-listed companies to less than a third of its portfolio and switched into Asia and other emerging markets.
AstraZeneca prostate drug disappointment
Monday 27 Sep 2010
AstraZeneca's prostate cancer treatment zibotentan showed little patient benefit in the first of three late stage trials, the drugs giant has revealed.
Wolseley to resume divi payments next year
Monday 27 Sep 2010
Wolseley, the supplier of goods to the plumbing and heating trade, is to resume paying dividends at the interim stage next year after finishing the old year with a flourish. Although revenue for the year to 31 July fell 9% to £13.2bn from £14.4bn the year before, this was above the market consensus of £13.1bn, while the fourth quarter saw an encouraging 4% gain in like for like sales.
Uncertainty still hanging over BP
Saturday 25 Sep 2010
It is accepted as a truism that stock markets hate uncertainty, so with one avenue of uncertainty closed off for BP, it is not surprising that buyers have been drifting back into the stock.
North Sea still generates oil sector excitement
Friday 24 Sep 2010
The North Sea is often seen as a depleted source of oil, but a big find by Nautical Petroleum earlier in the week shows the waters off Britain’s east coast are still rich in resources.
Rockhopper has trouble with its little perforations
Friday 24 Sep 2010
Rockhopper Exploration, the fast growing North Falkland Basin oil and gas exploration company, has had a few technical problems with its flow test on well 14/10-2.
FSA will regulate if City can't plug leaks
Friday 24 Sep 2010
The Financial Services Authority (FSA) is baring its teeth again, this time threatening a clampdown on the way in which companies and brokers talk to the press, unless it sees a drop in the number of leaked stories.
US online gaming laws may be delayed
Friday 24 Sep 2010
Plans to legalise online gaming in the US have lost momentum and it appears unlikely that it will be legal before the end of 2010.
HSBC chief to stand down in major shake-up
Friday 24 Sep 2010
A major shake-up of HSBC's senior management is on the way with chief executive Michael Geoghegan set to quit by the year-end and finance director Douglas Flint to take over as chairman, replacing Stephen Green, who is off to join the coalition government.. Stuart Gulliver, the head of the bank's investment division, will become chief executive.
Brazil's Petrobas in record share offer
Thursday 23 Sep 2010
Brazil’s state-owned oil company Petrobas makes history today when the price of its world record US$78bn rights issue is confirmed at a board meeting in Rio de Janeiro. Expectation that the offer will be heavily oversubscribed has driven Petrobas shares higher in Sao Paulo Thursday. Bookbuilding has been underway for almost three weeks now
Luminar reassures after in line trading
Thursday 23 Sep 2010
Britain's biggest nightclub operator Luminar has eased investors’ fears over the company’s future with an announcement that trading in the half year to August 26 has been in line with expectations, if challenging.
United Utilities on track after price review
Thursday 23 Sep 2010
Water supplier United Utilities says it is on track to deliver results in line with expectations, with the recent regulatory price review for the 2010 to 2015 period now water under the bridge.
M&B enjoys Indian summer
Thursday 23 Sep 2010
Like for like (LFL) sales picked up faster than expected at the tail end of summer at All Bar One pubs owner Mitchells & Butlers. In the nine weeks to 18 September the group saw like for like sales improve by 3.6% on last year’s levels. That was a sharp improvement on the 1.6% year on year advance in LFL sales seen in the first 42 weeks of the fiscal year.
Imperial Tobacco to match estimates
Wednesday 22 Sep 2010
Imperial Tobacco is still on track to meet forecasts for the year, though growth in tobacco revenues has slowed slightly over the last six months.
Cable attack on capitalism riles City
Wednesday 22 Sep 2010
Business secretary Vince Cable has provoked criticism from City figures with a speech that has been perceived as an attack on capitalism.
Bank of England MPC voted 8-1 to hold rates
Wednesday 22 Sep 2010
The Bank of England Monetary Policy Committee (MPC) voted 8-1 in favour of keeping interest rates at a record low of 0.5% in its meeting earlier this month, with divisions between the lone hawk Andrew Sentance and other policymakers widening.
Real Good Food losses widen
Wednesday 22 Sep 2010
Shares of Real Good Food tumbled over 5% after it said first half losses widened and sales fell 11% on the back of lower sugar prices.
CBI lowers 2011 growth forecast
Wednesday 22 Sep 2010
Employers' organisation the CBI has cut its estimate for UK growth next year, but expects 2010 to better than previously forecast.
Gold hits new record after Fed comments
Wednesday 22 Sep 2010
Gold hit a record for the fifth straight day after indications from the Federal Reserve that extra stimulus measures would be employed if the US economy continues to struggle sent the dollar tumbling. Interest rates were left at just above 0% and the Fed said it expects the recovery to continue, but added "the pace of economic recovery is likely to be modest in the near-term."
Betfair confirms float plans
Tuesday 21 Sep 2010
Online betting exchange Betfair is to take a punt on the market's appetite for new issues and float in London. No pricing details accompanied the statement, but reports recently have suggested the group want a valuation of up to £1.5bn. Betfair does not intend to issue any new shares as part of the offer.
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