London afternoon: Footsie bottoms out
14th Oct 2010 14:17
Leading shares trod water over the lunchtime session, leaving Footsie still stranded in the red. Banks remain in the doldrums. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls has unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices
Read moreFTSE 250 movers: Mixed bag from retailers
14th Oct 2010 14:04
Retail-related stocks are mixed today after updates. Cash and carry group Booker is higher after it posted a sharp rise in interim profits and reported strong turnover so far in the second half. So is WH Smith. The newsagent and bookshop operator posted a strong rise in profits and upped its fina
Read moreBroker tips: Vodafone, Standard Chartered, Ashmore
14th Oct 2010 13:01
Positive earnings momentum for Vodafone has seen Nomura Securities upgrade its earnings per share forecasts for the telecoms titan by 5-6%. "Strong cost reductions should drive organic earnings before interest, taxes, depreciation and amortization inflexion in the second half (+2% year-on-year) an
Read moreLondon midday: Downward drift quickens
14th Oct 2010 11:56
US markets may be expected to open firmer but London is determined to go its own way today, heading lower, despite a buoyant mining sector. Metal prices are back on the rise as the dollar heads in the opposite direction. That is not enough to prevent gold miner African Barrick Gold taking a tumble,
Read moreBroker snap: Ashmore surprises to the upside
14th Oct 2010 10:36
Higher than expected investment inflows have forced brokers to review their target prices for fund manager Ashmore. The emerging markets asset manager revealed an 18% increase in assets under management (AUM) to $41.6bn since June, driven by good investment performance and strong net inflows. Sing
Read moreLondon open: Footsie builds on gains
14th Oct 2010 08:24
London has crept higher following yesterday's gains, with a stream of updates giving investors plenty to ponder. Starting with the bad news, African Barrick Gold has suspended 40% of the mining department at its Buzwagi mine in Tanzania following a fuel theft it suspects was an inside job. The shar
Read moreLondon pre-open: Advance expected to continue
14th Oct 2010 07:35
London is expected to pick up where it left off yesterday with solid gains foreseen. City traders think the FTSE 100 index will open about 17 points firmer. Mining stocks are in focus early on. The third quarter was more of the same for mining giant Rio Tinto with operations running at or close to
Read moreAshmore assets up 18% in Q1
14th Oct 2010 07:06
Emerging markets asset manager Ashmore grew assets under management (AuM) by 18% in the three months to 30 September, much more than expected. AuM grew to $41.6bn during the first quarter from $35.3bn on 30 June, thanks to net inflows of $3.4bn and positive performance of $2.9bn. Analysts at Singer
Read moreBroker tips: SABMiller, Dunelm, Ashmore
11th Oct 2010 12:40
Investors expecting brewing giant SABMiller's performance to regain some fizz may have a while to wait, Nomura Securities suggests. "We think that short-term expectations of a renewal of volume growth towards company's medium-term guidance may be unrealistic. We still expect mixed news flow in the
Read moreBroker snap: Strong quarter expected for Ashmore
11th Oct 2010 10:59
Singer Capital Markets expects Ashmore to announce increased assets under management (AUM) in its update for the July to September quarter. The investment management group reported AUM of $35.5bn for the year ended June, and the broker anticipates that the update will reveal an increased figure by
Read moreLondon Stock Exchange boss makes initial investment
23rd Sep 2010 17:00
Xavier Rolet has invested £158,000 in London Stock Exchange shares. The London Stock Exchange's chief executive has bought the shares for his US pension fund. He acquired 23,000 shares at 689p a share. These are the first shares he has bought since becoming chief executive. Rolet is participatin
Read moreBroker tips: SABMiller, Ashmore, underwriters
21st Sep 2010 13:13
Brewing giant SABMiller is to move towards the centralised business model adopted by its multi-national rivals but this could lead to some short term volatility in the business, Nomura Securities believes. SABMiller's chief executive officer Graham McKay said in a press interview that the company w
Read moreBroker snap: Emerging markets key for Ashmore
21st Sep 2010 13:11
KBC Peel Hunt has shifted out of neutral and turned positive in its stance on fund manager Ashmore Group after upgrading its profit forecasts. "We confirm that our June 2011 forecasts are upgraded by 12%, primarily due to higher performance fees. Fundamental drivers of the business continue to look
Read moreWednesday tips round-up: Hargreaves Services, Hilton Food, Ashmore...
15th Sep 2010 06:54
The three main growth areas for Hargreaves are niche coal supplies in Europe, renewable power and the development of the Tower Colliery in Wales, bought by the miners in 1995 after it was closed down. Tower is to reopen in the spring, the coal extracted over seven years and the site then redevelop
Read moreLondon close: Footsie makes round trip
14th Sep 2010 16:52
Footsie finished the day as it started it, marginally in positive territory, but for much of the day it languished in the red, as investors turned their attention to gold. The most actively traded contract in the yellow stuff has risen to a record high of $1,269.50 an ounce in New York trading, as
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