Editor's Picks
Brokers sweet on Tate & Lyle
Wednesday 25 May 2011
This is an expanded version of the Thursday preview, available only to Research Plus subscribers.
Bonds rise as economic data underwhelms
Wednesday 25 May 2011
With little comfort coming from the unrevised second estimate of first quarter GDP growth and mortgage approvals plummeting in April, the relative safety of government debt was in demand.
First Derivatives on a roll
Wednesday 25 May 2011
First Derivatives, which supplies software and consulting services to banks and hedge funds, posted higher profits in the year to 28 February as the company continues developing new products and winning clients.
US Midafternoon: Stocks near day´s highs
Wednesday 25 May 2011
US benchmarks are now further extending today´s gains, on the back of better than expected house price data (Dow Jones: 46, Nasdaq Comp.: 18, S&P 500: 5). The above despite the negative surprise seen in durable goods orders data, this morning. Also to be had into account, Treasury Secretary Timothy Geithner´s remarks to the effect that a budget deal between the White House and Congress,
GDP estimate left unchanged
Wednesday 25 May 2011
Those hoping first quarter GDP would be revised up have been disappointed after the Office for National Statistics (ONS) left its estimate unchanged at 0.5%.
Long slog ahead for JJB Sports
Wednesday 25 May 2011
The firm made a pre-tax loss of £181.4m on revenues of £362.9m in the 52 weeks to the end of January 2011. This was more than double the £68.6m loss that JJB posted in the previous 12 months. Chairman Mike McTighe said that a great deal had happened at the firm since the period end.
Broker snap: Vodafone downgraded to 'neutral'
Wednesday 25 May 2011
While Nomura leaves its target price for Vodafone at 210p, the broker downgrades the telecoms giant from 'buy' to 'neutral', saying that "customer lifetime value [is] heading in the wrong direction."
Record revenues for Aveva
Wednesday 25 May 2011
Engineering software firm Aveva registered record revenues in the year ended 31 March, helped by a strong performance in the emerging markets, mainly driven by growth in the oil and gas sector.
London midday: FTSE 100 still struggling to recover
Wednesday 25 May 2011
The top share index is seeking direction amid continued uncertainty following the slide on Monday. Fashion retailer Next and B&Q owner Kingfisher are among the worst performers. Following suit is new kid on the block Glencore, which is under the weather on its debut on the top-share index. On the FTSE 250 (...)
US helps Homeserve grow revenues 15%
Tuesday 24 May 2011
A growing international footprint combined with rising customer numbers in the UK helped home emergency repairs outfit Homeserve drive underlying revenues 15% higher in the year ended 31 March.
Logica appoints ex-BT man as FD
Tuesday 24 May 2011
Software skills provider Logica has appointed former BT man Himanshu Raja as its new chief financial officer.
Technical Analysis: 'Head and shoulders' pattern in the Euro?
Tuesday 24 May 2011
Technical analysts at Digital Look are commenting this afternoon that, “If you remember, throughout the last few sessions we have been talking about the possibility that the 1.39 area could serve as support. Despite that, we would now be looking to go long the Euro, with a ‘stop’ below 1.40 (on prices at the close). In fact, if we look at the graph one can see the importance of said level. It
Cable & Wireless jumps as profits rise
Tuesday 24 May 2011
Cable & Wireless Worldwide shares climbed as it squeezed out a higher profit in the year to 31 March despite revenues coming under pressure as the telecoms company felt the impact of UK public sector cuts.
Big Yellow store revenue growth slows
Tuesday 24 May 2011
The UK economy is recovering, albeit slowly, if the experience of self-storage barns owner Big Yellow is anything to go by, but the company is still waiting for the pace of recovery to change gear.
De la Rue profits dive after production problems
Tuesday 24 May 2011
Profits and revenues fell sharply at De La Rue in the year to 26 March as the banknote printer felt the impact of production problems that are thought to have affected its biggest client, India. Pre-tax profits before tax and exceptional items fell to £33.3m from £104.1m on revenues that slumped to £463.9m from £561.1m.
Cairn's Greenland programme has flexibility
Tuesday 24 May 2011
Oil and gas outfit Cairn Energy said the government of Greenland recently approved the location of seven exploration drill sites, which gives the company some flexibility in its planned 2011 programme.
Tuesday newspaper round-up: eurozone, Sony, IMF
Tuesday 24 May 2011
Fears that the debt crisis is spreading across the eurozone hammered financial markets around the world yesterday. A wipeout for Spain’s Socialists in regional elections over the weekend, coupled with fears of a political logjam in Italy, undermined investor confidence in governments’ efforts to steer a path through the sovereign debt maelstrom, reports the Times.
Viridor growth boosts Pennon profits
Tuesday 24 May 2011
Strong growth in its waste services group Viridor helped the water company Pennon post a rise in profits in the year to 31 March, despite regulatory restraints on how much it can charge its water customers.
Big Yellow in the pink
Tuesday 24 May 2011
The UK economy is recovering, albeit slowly, if the experience of self-storage barns owner Big Yellow is anything to go by, but the company is still waiting for the pace of recovery to change gear. Revenue in the 12 months to 31 March rose 7% to £61.9m from £58.0m the prior year. Store revenue for the year was up 8% to £59.6m from £55.1m the year before, with the fourth quarter seeing 7% growth.
PIGS bond yields fly as spotlight turns to Italy
Monday 23 May 2011
The eurozone situation was in focus again on Monday and this time it was not the so-called PIGS that were in focus but the PIIGS, after the ratings agency Standard & Poors changed its stance on Italy to “negative” from “stable.” Among the factors that worry S&P is the fragility of prime minister Silvio Berlusconi’s ruling coalition.
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