Editor's Picks
US Midafternoon: Stocks still trading in the green
Friday 27 May 2011
The main US equity benchmarks are still trading in the green (Dow Jones Industrials: 29, Nasdaq Comp.: 11, S&P 500: 4), following the release of considerably better than expected consumer confidence data in the United States this afternoon. They have moved away from the best levels of the day however.
Electrocomponents beats expectations
Friday 27 May 2011
Sales and profits were slightly ahead of expectations at electronics and maintenance products supplier Electrocomponents, on the back of strong sales growth in all geographic regions and online.
Sunday newspaper round-up: Petrol prices, Barclays, BoE
Friday 27 May 2011
"With petrol prices reaching record highs, The Federation Nationale d'Automobile (FIA), which represents 35m drivers, has demanded an inquiry into how benchmark prices are set at Europe's key trading centre, the Rotterdam spot market. UK petrol hit 137.43p per litre last month, driven by wholesale oil prices climbing above $125 per barrel. However, petrol prices did not drop back as quickly as
London close: Stocks hold on to gains
Friday 27 May 2011
Stocks held on to gains going into a long weekend, as Wall Street opened up higher. After a sharp rise in early trading, the Footsie maintained its level around the 5,930-40 mark for the rest of the day, helped by strong showings from the miners and the banks. Just seven stocks finished in the red.
US Midday: Economic data comes in below expectations
Friday 27 May 2011
The main US equity benchmarks are now trading slightly off their highs of the morning (Dow Jones Industrial: 72, Nasdaq Comp.: 23, S&P 500: 8), following the release of some weaker than expected economic data. Compensating for the above, today’s news-flow regarding Greece has led to a modicum of calm as regards that Aegean nation’s funding requirements, at least for the very short term.
US mid-morning: Consumer confidence data supports stocks
Friday 27 May 2011
The main US equity benchmarks are now at the day´s best levels (Dow Jones Industrials: 79, Nasdaq Comp.: 18, S&P 500: 9), following the release of considerably better than expected consumer confidence data in the United States this afternoon.
US pre-open: Slight gains expected ahead of more data
Friday 27 May 2011
US futures are now pointing to average gains of 0.3% at the open for the main US equity benchmarks. Thus, the slightly weaker than expected economic data out in the pre-open has not dented market sentiment. As well, investors are waiting for the release of more indicators this afternoon which are expected to come out at the end of the hour.
Broker snap: Aveva upgraded to 'fair value'
Friday 27 May 2011
Singer Capital Markets has upgraded its rating on engineering software firm Aveva Group after a strong end to the year and a confident outlook for the current year.
FTSE 100 movers: Essar rises over 5% to lead risers
Friday 27 May 2011
Energy firm Essar Energy is topping the risers, making a +5% gain as of Friday afternoon. Meanwhile, Cairn Energy is the heaviest faller, edging just 0.5% lower. Only five stocks are in the red, all recording minor losses.
Broker snap: Northern Petroleum placed 'under review'
Friday 27 May 2011
Matrix has placed its rating on Northern Petroleum 'under review' after a disappointing update in which the oil and gas firm slashed reserve estimates at three of its five gas fields in the Netherlands.
UK Consumer confidence registers a surprise jump in May
Friday 27 May 2011
The consumer confidence index for the UK unexpectedly jumped in May, according to GfK, to -21 points, from -31 the month before. The rise is almost unprecedented in the index´s long history but GfK is wary of jumping to quick conclusions, and the rise does come from very low levels, which in itself is reason for some caution.
Europe midday: Stocks off the boil
Friday 27 May 2011
After a bright start, stocks have come off the boil, following a downbeat report on European economic confidence, although risers still comfortably outnumber fallers among European blue-chips.
London midday: Banks provide a boost
Friday 27 May 2011
The Footsie is around 1% higher at the midday point, holding on to early gains.
Asia: Slowdown fears trigger sell-off
Friday 27 May 2011
The Nikkei retreated as the stronger yen pressured exporters while shares of Sony tanked after reporting a massive full year loss.
Europe open: Banks lead Europe higher
Friday 27 May 2011
European markets are showing gains across the board, with banks leading the advance after Citigroup turned bullish on the sector.
Bloomsbury e-book sales steal the show
Friday 27 May 2011
Book publisher Bloomsbury said demand for electronic readers outpaced progress among traditional books. Sales of e-books increased to £1.5m in 2010 from £0.08m in 2009 in what chief executive Nigel Newton hailed as the 'changing the face of the publishing industry.' E-sales in January to March 2011 were £1.1m.
London open: Miners and banks head a strong start
Friday 27 May 2011
The Footsie has started strongly, rising over 1% as the index climbs above the 5,900 level.
Britvic gets a lift from France
Friday 27 May 2011
First half sales at soft drinks group Britvic jumped by a quarter after a first-time contribution from its French division.
Electrocomponents beats expectations
Friday 27 May 2011
Sales and profits were slightly ahead of expectations at electronics and maintenance products supplier Electrocomponents, on the back of strong sales growth in all geographic regions and online. Headline profit before tax in the year to 31 March was £114.0m, up from £74.4m the year before and ahead of market consensus of £113.5m.
Friday tips round-up: Qinetiq, Amerisur Resources, Shanks...
Friday 27 May 2011
Qinetiq posted better-than-expected full-year figures, with underlying operating profits climbing by 21% to £145.4m, against analyst hopes of around £140m. But that wasn't all. Qinetiq said it had slashed its debt burden to a manageable £261m from £457m. And it also cheered income investors by announcing that it would resume paying dividends.
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