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London close: Heavy losses for Footsie

Thu, 02nd Jul 2009 16:37

Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures.WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% organic sales decline in fiscal 2009 and limited growth in fiscal 2010.Rio Tinto also fell despite a strong response to its $15.2bn rights issue. Shareholders have taken up 96.97% of the shares offered to them, with major shareholder Chinalco has taken up its entitlement in full.London Stock Exchange fell after it announced a new pricing scheme yesterday. The stock market operator says the new tariff would have resulted in £3m worth of trading fee reductions between January and March.Diageo, which announced yesterday it is cutting 900 jobs in Scotland as part of a major restructuring, topped the risers.Carphone Warehouse and Vodafone have ended their three year row over monthly contract sales. Vodafone stopped using the retailer for deals involving monthly contracts in October 2006, after it tied itself to an exclusive deal with Phones4U, Carphone's main high street rival.Argos owner Home Retail suffered a major revolt over a new director remuneration package at its AGM today, with 35.6% of shareholders voting against the deal.Nick Prettejohn is quitting his job as chief executive of Prudential's UK and Europe business after three and a half years in the role, having missed out on the top job earlier this year.Pub groups are one of the strong sectors. Brewing and pub group Greene King reported profits ahead of forecasts made at the time of its rights issue in April that raised over £200m for the group. Enterprise Inns, Marston's and Punch are all up in sympathy.Specialist computer and video games retailer Game Group reported a 15.4% drop in like for like sales in the 21 weeks to 27 June, but said it remains confident in the outlook for the full year. The shares have taken a bashing, even so.Oilfield support services firm Petrofac has landed a gas compression project worth over $350m. Petroleum Development Oman (PDO) has awarded Petrofac a contract for the Kauther gas-field depletion-compression project. Intermediate Capital Group (ICG), a leading investor in and manager of buyout debt, today announced a fully underwritten 7 for 2 rights issue to raise £351m.Shares in Elan rallied on news that Johnson & Johnson will acquire substantially all of the assets and rights of the Irish drug firm related to its Alzheimer's Immunotherapy Program. Johnson & Johnson, through its affiliate, will invest $1bn in Elan in exchange for newly issued American Depositary Receipts of Elan which will represent 18.4% of its outstanding ordinary shares.Flexible pipeline supplier Wellstream Holdings has secured 90% of 2009's anticipated revenues at the halfway point.Serge Crasnianski is to take over as interim boss at photo booth operator Photo-Me International until the company finds a permanent replacement for Thierry Barel. Crasnianski is the company's major shareholder and was made deputy chairman yesterday.Speciality pharmaceutical company ProStrakan has avoided a legal battle with Aventis Pharma by settling a tax issue out of court.Tikit said trading in the second quarter proved to be disappointing and warned that it expects its market in the second half of the year to remain difficult. Sierra Leone-focused miner African Minerals has raised £63.8m ($105m) from a cash placing with institutional investors in North America and the UK.The share price of turnaround investment company Volvere continued its good run as the chairman said all of the company's businesses have performed extremely well in 2009.FTSE 100 - RisersDiageo (DGE) 905.00p +0.89%Petrofac Ltd (PFC) 683.00p +0.52%Friends Provident Group (FP.) 68.09p +0.18%Admiral Group (ADM) 877.50p +0.11%FTSE 100 - FallersWPP Group (WPP) 384.50p -7.01%Anglo American (AAL) 1,726.00p -5.81%Rio Tinto (RIO) 2,035.00p -5.70%London Stock Exchange Group (LSE) 663.50p -5.48%Lonmin (LMI) 1,157.00p -5.01%FTSE 250 - RisersCarpetright (CPR) 579.00p +3.67%Intermediate Capital Group (ICP) 505.50p +3.16%Greene King (GNK) 422.25p +2.99%Enterprise Inns (ETI) 133.50p +2.89%Britvic (BVIC) 293.00p +2.63%FTSE 250 - FallersGame Group (GMG) 142.00p -13.41%Dunelm (DNLM) 212.75p -7.50%Aquarius Platinum Ltd. (AQP) 210.00p -7.18%Regus (RGU) 61.50p -6.82%Aegis Group (AGS) 86.50p -6.23%
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21 Jan 2014 08:46

Carphone Warehouse Reiterates Full-Year Guidance On Strong Third Quarter

LONDON (Alliance News) - Carphone Warehouse Group PLC reiterated its full-year guidance Tuesday, as it saw like-for-like revenue growth in the third quarter ended December 28, 2013, and saw encouraging progress on its sales of 4G services. Mobile-device retailer expects full-year headline

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21 Jan 2014 08:19

UK MORNING BRIEFING: Shares Higher; Unilever, SABMiller As Expected

LONDON (Alliance News) - UK shares have opened higher Tuesday, as Unilever and SABMiller have released results and trading statements in line with expectations.

Peel Hunt has issued ratings on the property sector, cutting Great Portland Est

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21 Jan 2014 07:41

MARKET COMMENT: UK Stocks Called To Open Slightly Higher

LONDON (Alliance News) - UK stocks are called to open slightly higher Tuesday. Prior to the open, Unilever and SABMiller have released earnings and trading statement in line with expectations. Meanwhile, trading volumes are expected to return to normal, after dipping Monday, as Wall Street

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21 Jan 2014 07:00

Carphone Warehouse reiterates year guidance

LONDON, Jan 21 (Reuters) - Carphone Warehouse, Europe's biggest independent mobile phone retailer, reiterated full-year earnings guidance after posting a rise in third quarter revenue at its main CPW Group business. Sales at CPW Group stores open over a year rose 3.1 percent in the three mo

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21 Jan 2014 06:20

UK Earnings, Trading Statements Calendar - Week Ahead

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20 Jan 2014 17:31

UK Earnings, Trading Statements Calendar - Week Ahead

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20 Jan 2014 17:14

MARKET COMMENT: UK Stocks Close Mixed; Banks Lead Blue-Chip Fallers

LONDON (Alliance News) - Both the FTSE 100 and the FTSE 250 closed slightly higher Monday, despite being weighed upon by banking stocks, which fell in the aftermath of disappointing results from German lender Deutsche Bank. Meanwhile, trading volumes were low as Wall Street is closed for th

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13 Dec 2013 09:36

Friday broker round-up UPDATE

African Barrick Gold: JP Morgan lowers target price from 180p to 170p leaving its neutral rating unaltered. Aggreko: Numis reduces target price from 1400p to 1234p downgrading from reduce to sell. Anglo American: Deutsche Bank reduces target price from 1780p to 1500p and downgrades to hold. JP Mor

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11 Dec 2013 18:47

UPDATE 1-UK's Royal Mail seals place in FTSE 100 after listing

* Royal Mail enters Britain's top share index * Ashtead also joins FTSE 100 after bullish guidance * Vedanta the latest miner to drop from FTSE, Croda also out (Adds details) By Alistair Smout LONDON, Dec 11 (Reuters) - Newly-privatised Royal Mail Group will join Britai

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9 Dec 2013 08:31

Monday broker round-up UPDATE

Alternative Networks: FinnCap takes target price from 390p to 430p and retains a buy recommendation. Investec ups target price from 390p to 440p maintaining a buy recommendation. Anite: Panmure Gordon shifts target price from 142p to 143p and keeps a buy recommendation. Canaccord Genuity upgrades f

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15 Nov 2013 10:23

UK BROKER RATING CHANGES: Four Brokers Cut Centrica Price Target

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15 Nov 2013 07:38

Friday broker round-up UPDATE

Amlin: Berenberg raises target price from 398p to 434p, but still recommends selling. Barclays cuts target price from 481p to 453p and retains an overweight rating. Antofagasta: Numis raises target price from 750p to 850p and reiterates a hold recommendation. AstraZeneca: Liberum Capital upgrades

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14 Nov 2013 17:11

UPDATE: Carphone Warehouse Hit By Charges, But Eyes 4G Benefit

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14 Nov 2013 09:49

Carphone Warehouse Reiterates Full Year Guidance As It Swings To Loss

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14 Nov 2013 07:14

Carphone Warehouse posts 8.3 pct first-half sales rise

LONDON, Nov 14 (Reuters) - Europe's biggest independent mobile phone retailer Carphone Warehouse said it was on track to meet full-year expectations after posting an 8.3 percent rise in first-half underlying sales. The group, which in April agreed to buy back Best Buy's stake in its Europe

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