Editor's Picks
City Link weighs on Rentokil Initial
Friday 06 May 2011
Pest control and cleaning firm Rentokil Initial posted a 10.1% drop in first quarter adjusted pre-tax profit while revenue increased 0.7% to £609.7m.
Admiral salutes strong first quarter
Friday 06 May 2011
Car insurer Admiral has seen strong growth so far this year, although things are tougher at the website business Confused.com.
IAG losses narrow in first results
Friday 06 May 2011
IAG saw an improved performance in the first quarter as it reported its first results since forming from the merger of British Airways and Spain’s Iberia. The company posted a pre-tax loss of €47m (£28.5m) for the three months to 31 March, much narrower than the €273m deficit that would have been seen in the same period the previous year had the two companies existed as one entity then.
ECB holds rates at 1.25%
Thursday 05 May 2011
The European Central Bank’s (ECB) governing council has today decided to keep the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 1.25%, 2.00% and 0.50%, respectively.
Bwin.party hit by poker
Thursday 05 May 2011
Bwin.party digital entertainment, the online gaming group formed by the merger of bwin and Partygaming, said the popularity of online poker is still waning, but sports betting is on the up.
Lloyds makes provision for potential mis-selling
Thursday 05 May 2011
First quarter profits fell sharply at part-nationalised lender Lloyds Banking, as the bank took an impairment charge that was half a billion pounds larger than it was expecting. The group saw profit before tax fall to £284m in the first quarter on a combined businesses basis from £1,104m the year before.
Riversdale hold-outs given more time by Rio
Thursday 05 May 2011
Mining giant Rio Tinto has again pushed back the deadline for its takeover offer for Africa-focused coal miner Riversdale Mining, giving minority shareholders more time to jump on board before the target is delisted from the Australian Stock Exchange.
UK Services PMI below consensus
Thursday 05 May 2011
The UK services PMI for the month of April has surprised on the downside, noticeably so in fact, but the sub-index for incoming orders has come in at its best level for the past year.
Margin pressures at Mondi
Thursday 05 May 2011
Paper and packaging firm Mondi said price increases have been pushed through across all of its major product lines, contributing to the group's best quarterly performance for some time.
Go-Ahead to beat expectations as drivers abandon cars
Thursday 05 May 2011
Rail and bus operator Go-Ahead is benefiting from cash-strapped drivers abandoning their cars to take the bus and expects to deliver a full-year operating profit ahead of expectations.
Soaring commodity prices lift Vedanta earnings
Thursday 05 May 2011
Indian mining giant Vedanta produced record volumes of commodities as prices soared, helping it post a sharp rise in full-year profits.
Royal Wedding boost for Morrisons
Thursday 05 May 2011
Times have been tough in the 13 weeks to 1 May but Morrisons has been appealing to its customers’ sense of patriotism, helping the supermarket to post growth ahead of the market. Total sales excluding fuel during the period were up by 4.2% from the same period a year ago, or by 2.5% on a like-for-like basis.
BAE battles with lower activity
Wednesday 04 May 2011
Defence giant BAE Systems has said that trading in 2011 so far has been “consistent with management expectations”, but it does expect sales to be lower than 2010.
Glencore sets float price range
Wednesday 04 May 2011
Commodity trader Glencore has priced its much anticipated flotation at between 480p and 580p a share, which values the Swiss company at around $66.8bn (£40.3bn) at the top of the range. The huge valuation will see Glencore go straight into the FTSE 100. A group of investors said to include the emirate of Abu Dhabi are to take a 31% stake in the company.
Slow down in page views growth at Rightmove
Wednesday 04 May 2011
Property web site operator Rightmove found the market hard to please on Wednesday, as the growth in page views on the site slowed down in the first quarter of 2011.
Assets give Aquarius a new lease of life
Wednesday 04 May 2011
Mining companies can easily pick up new assets but gaining control over resources right next to a company’s existing assets is more difficult, which may explain why Aquarius Platinum’s acquisition today has been applauded by the market.
Rights purchase lifts Aquarius Platinum resources
Wednesday 04 May 2011
Shares in Aquarius Platinum were in demand despite declines elsewhere in the mining sector after the company said it is to buy mineral rights in an area next to its own operations in the Eastern limb of South Africa’s Bushveld Complex.
Logica to outperform after strong start
Wednesday 04 May 2011
Software group Logica expects to see sales ahead of the market in 2011 after strong growth in revenues and orders in the three months to 31 March.
Kazakhmys output on track
Wednesday 04 May 2011
Kazakh copper producer Kazakhmys says it is on track to meet 2011 production targets after a strong first quarter in which commodity prices remained firm.
Weir raises full year expectations
Wednesday 04 May 2011
Engineering solutions provider Weir Group said it expects full year profit before tax and intangibles amortisation to be around £20m ahead of its previous expectations following a strong first quarter.
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