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  • Astra raises earnings guidance

    Thursday 28 Jul 2011

    Anglo-Swedish drugs giant AstraZeneca raised its full-year earnings outlook and pledged to return more cash to shareholders, as second-quarter sales and profits came in marginally ahead of expectations. Reported profit before tax slid 2%, or 4% on a constant exchange rates (CER) basis, to $2.86bn from $2.92bn the year before. Core profit before tax dipped to $3.22bn from

  • London open: Footsie opens lower after flurry of results

    Thursday 28 Jul 2011

    After a flurry of company results this morning, the Footsie fell into the red. While investors digest the figures, in the back of their minds they are still fretting about the US debt ceiling negotiations, with the Republicans and Democrats set for a show-down later on today in the House of Representatives.

  • Croda International posts 30% profit hike

    Thursday 28 Jul 2011

    Speciality chemicals group Croda International posted a 30% surge in half year profit, bolstered its dividend and expects to make further progress through the remainder of the year.

  • London pre-open: Not too busy to fret about US debt

    Thursday 28 Jul 2011

    There has been a hectic schedule of big company results already this morning to keep traders occupied but in the back of their minds they are still fretting about the US debt ceiling negotiations, with the Republicans and Democrats set for a show-down later on today in the House of Representatives.

  • Soaring energy prices see Shell's earnings surge

    Thursday 28 Jul 2011

    Anglo-Dutch integrated oil company Royal Dutch Shell reported underlying net income roughly in line with market estimates. Net income on a current cost of supplies (CCS) basis, excluding specific items, totalled $6.6bn, compared to $4.2bn in the second quarter of last year. Basic underlying CCS EPS rose 52% to $1.05 from 69 cents the year before. The quarterly dividend has been held at 42 cents.

  • Thursday tips round-up: BATs, Morgan Crucible, Aviva...

    Thursday 28 Jul 2011

    British American Tobacco has tended to forge ahead of its smaller quoted rival Imperial Group, and this week’s results have proved no exception. Imps, mired in a price war in Spain, reported a 3 per cent decline in cigarette sales in its nine-month trading update. BAT came in with a 1 per cent decline in the first half of this year, against a market that fell by 2 per cent. BAT is well on the way

  • Broker snap: Credit Suisse cuts its targets for three UK banks

    Thursday 28 Jul 2011

    At a moment when, “the market is preoccupied with concerns over sovereign debt, and ring fencing in the UK,” analysts at Credit Suisse have today decided to mark down their price targets on three banks for the following reasons:

  • Thursday newspaper round-up: Fed, Public sector pensions, Barclays...

    Thursday 28 Jul 2011

    Wall Street bankers, from senior executives to traders, are complaining that the Federal Reserve is refusing to engage in scenario planning for a US downgrade or default. With days until the Treasury’s August 2 deadline to raise the debt ceiling, bankers say they are not getting a response to efforts to discuss the market impact of a failure to reach a ...

  • Credit Suisse: 50% chance of US debt rating downgrade

    Wednesday 27 Jul 2011

    Credit Suisse said there is a 50% possibility of a ratings downgrade of the US sovereign debt even if the debt ceiling is raised by the deadline on August 2 but expects the move to have low impact.

  • ConocoPhilips beats estimates

    Wednesday 27 Jul 2011

    ConocoPhilips experienced reduced second-quarter earnings of $3.4bn, or $2.41 per share, compared to $4.16bn, or $2.77 per share, in the second quarter of 2010.

  • Airbus to buy Danish aircraft services group

    Wednesday 27 Jul 2011

    EADS subsidiary Airbus is to purchase Danish company Satair for 580 Danish kroner per share in cash (378.66 kroner for option holders).

  • Holidaybreak agrees price with Cox and Kings

    Wednesday 27 Jul 2011

    Cox and Kings has agreed on a takeover price for the adventure and educational holiday specialists Holidaybreak. Holidaybreak shareholders are set to receive 432.1p in cash per share in the agreed bid. The acquisition will be made by a wholly-owned subsidiary of Cox and Kings, Prometheon Holdings, a UK-based company.

  • Cloud boost for Autonomy

    Wednesday 27 Jul 2011

    Data search software giant Autonomy posted record revenues in the second quarter and hailed the shift by many of its customers towards its “cloud” computing services.

  • Moody's downgrades Cyprus, cuts growth forecasts

    Wednesday 27 Jul 2011

    Cyprus has joined the list of Eurozone countries to be hit with a credit ratings downgrade, after Moody’s cut its rating on its bonds from A2 to Baa1 and adjusted its outlook to negative. Moody’s said it has “ongoing concern” about the country’s fiscal position, which was worsened by the accidental destruction of its main power plant on 11 July, due to an explosion at a naval base close by.

  • Moody's downgrades Cyprus, cuts growth forecasts

    Wednesday 27 Jul 2011

    Cyprus has joined the list of Eurozone countries to be hit with a credit ratings downgrade, after Moody’s cut its rating on its bonds from A2 to Baa1 and adjusted its outlook to negative.

  • Cloud boost for Autonomy

    Wednesday 27 Jul 2011

    Data search software giant Autonomy posted record revenues in the second quarter and hailed the shift by many of its customers towards its “cloud” computing services. Revenues rose by 16% from the same quarter last year to $256m (£156.5m). Autonomy said its cloud business – which allows customers to manage data on computers remotely – had commitments from customers worth $46

  • Premium tips: Kingfisher, Glaxo, BP...

    Wednesday 27 Jul 2011

    Credit Suisse raised its target price for DIY retailer Kingfisher from 270p to 295p and said that the group is showing “encouraging steps in the next phases of its longer term strategy and has continued to execute its plan on top of managing the progression of the business through come difficult trading conditions.” An outperform recommendation was maintained.

  • Europe midday: Mis-selling provision dents Santander

    Wednesday 27 Jul 2011

    Early losses in Madrid and Milan were extended as the morning progress, but share prices in Franfurt and Paris consolidated at lower levels, after a weak opening that was prompted by continuing concern over the US debt ceiling negotiations.

  • Premium broker snap: Goldman Sachs downgrades European banks to neutral

    Wednesday 27 Jul 2011

    Goldman Sachs has downgraded the European banking sector from overweight to neutral, highlighting renewed doubts about the effect of the new Greek bailout package.

  • Ofgem fines British Gas £2.5m

    Wednesday 27 Jul 2011

    Ofgem slapped a £2.5m fine on Centrica’s British Gas after the UK energy regulator found that the company had failed to deal with customer complaints properly.

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