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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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7 Aug 2012 10:14

HMV appoints new bean counter

HMV Group, the music and entertainment retailer which recently announced the departures of its Chief Executive Officer and Finance Director, has poached Ian Kenyon from Best Buy Europe to fill the latter role. Kenyon will join the company on September 3rd from Carphone Warehouse, where he has been

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27 Jul 2012 10:24

Numbers impress at Carphone Warehouse

Europe's largest independent mobile phone seller, Carphone Warehouse, managed to avoid an expected slump in sales to post respectable figures for the three months to the end of June. Like-for-like sales at CPW Europe were down 2% although total sales including new stores rose 5.7% to £776m. The ke

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14 Jun 2012 10:13

Carphone Warehouse's profits edge up

Carphone Warehouse, the seller of hand-held mobile communication devices, saw full year profits rise once the effects of the Best Buy Mobile sale are stripped out. Using what it terms "headline" figures, which essentially remove from the equation bits of the business which have been sold, the group

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13 Jun 2012 18:01

Thursday preview: Halma, Carphone Warehouse

Safety, health and sensor technology group Halma is one of those steady-Eddie companies that rarely makes waves. Thursday's full year results should see the company continue its impressive record of consistent double-digit percentage growth. The consensus market forecast is for earnings per share

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9 May 2012 11:23

Carphone Warehouse maintains guidance despite UK sales drop

Carphone Warehouse has seen a decline in like-for-like (LFL) revenues in its Europe divison (essentially the UK operation) but expects full-year earnings to be on target. CPW Europe, a 50% joint venture with US firm Best Buy, saw LFL revenues down 5.5%. In the UK, the firm estimates pre-pay revenue

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30 Apr 2012 08:29

Monday broker round-up

Anglo American: AlphaValue downgrades from neutral to reduce, target cut from 7,115p to 6,970p. AstraZeneca: Jefferies upgrades from hold to buy, target cut from 3,050p to 2,975p; JP Morgan Cazenove upgrades from underweight to neutral, target hiked from 2,800p to 3,050p. British Sky Broadcasting:

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3 Feb 2012 16:19

Sector movers: BT lifts telecoms higher

Telecoms giant BT Group was lifting the fixed line telecommunications sector on Friday afternoon following its well-received third quarter results announced this morning. BT saw pre-tax profits rise from £441m last year to £652m in the three months to December 31st. Over the first three quarters, p

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25 Jan 2012 09:00

Wednesday broker round-up - UPDATE

Ashmore: Barclays upgrades to overweight from neutral. Glencore: UBS cuts target from 530p to 490p, buy rating unchanged. Vodafone: Nomura reiterates buy rating and 230p target. Britvic: Nomura keeps buy recommendation and 425p target; Collins Stewart gives sell rating and 290p target. WH Smit

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24 Jan 2012 08:38

Carphone Warehouse reiterates guidance

Mobile communications devices seller Carphone Warehouse has reiterated its full year headline earnings guidance after the group's fiscal third quarter saw a glut of contract renewals coinciding with the release of new smartphones. CPW Europe, the group's joint venture with US consumer electronics g

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8 Jan 2012 15:00

Sunday newspaper round-up: FX, Gas, M&S, RBS, IAG, Tesco

"The Euro is still above the fair value of $1.25 implied by purchasing power parity - and it has been so ever since its recovery from its disastrous early years. A move well below $1.25, if not quite to $1.10, looks more likely if the US recovery story suggested by yesterday´s unexpectedly strong jo

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1 Dec 2011 07:06

Thursday tips round-up: Shaftesbury, Cineworld, Christmas shares

The Tempus column in The Times ponders which stocks would fit into a share portfolio consisting of stocks exposed to London and the South East only, and suggests that one would be Shaftesbury, the property company whose assets consist almost entirely of shops, restaurants and bars in the West End. I

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24 Nov 2011 18:54

Non-exec Allwood changes Carphone number to 10000

John Allwood, non-executive director of mobile phones seller Carphone Warehouse has rounded up his holding in the company to 10,000 shares. Allwood bought 6,500 shares at 303.9p each, at a cost of just under £20,000, as the shares hit a new 52-week low on Thursday. The company's share price has be

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21 Nov 2011 12:27

BuyBuy for TalkTalk non-exec

A non-executive director of both broadband provider TalkTalk and mobile phone seller Carphone Warehouse has made a double purchase, phoning in orders for shares in both firms. John Allwood bought 10,000 shares at 134.80p for a total of £13,480 in TalkTalk, and 3,500 shares at 311.00p in Carphone Wa

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9 Nov 2011 09:58

Wednesday broker round-up - UPDATE

Admiral: Nomura puts buy rating and 1,900p target under review Admiral: Investec keeps sell rating and 843p target. HSBC: Evolutions Securities keeps sell rating and 650p target. British American Tobacco: Alpha Value downgrades to reduce from add. Regus: Credit Suisse upgrades from neutral to o

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7 Nov 2011 16:55

London Close - FTSE flat as investors eye Italy

UK prices were broadly flat on Monday dropping just 0.3% following steady rises since early September. However, investors are keeping a wary eye on developments in Italy. The human comedy sketch known as Silvio "Il Cavalieri" Berlusconi, appears to be teetering on the edge of losing power. The pre

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