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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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28 Jul 2010 08:56

Carphone confident after Q1 beat

Mobile phone retailer Carphone Warehouse has repeated full-year guidance following better than expected first quarter retail sales. Like-for-like revenue was up 3.7% at Carphone Warehouse Europe in the three months to the end of June, driven largely by sales of smartphones. "We've had a good star

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28 Jul 2010 08:47

UPDATE:Carphone Warehouse Beats Views,Gives Confident Outlook

(Adds CEO comment, analyst comment, detail.) By Simon Zekaria Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Carphone Warehouse Group PLC (CPW.LN) Wednesday said it is confident of meeting its full-year expectations after the U.K. mobile phone retailer posted a forecast-beating 3.7% rise i

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28 Jul 2010 07:09

Carphone Warehouse Confident On FY As 1Q Beats Views

By Simon Zekaria Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Carphone Warehouse Group PLC (CPW.LN) Wednesday said it is confident of meeting its full-year expectations after the U.K. mobile phone retailer posted a forecast-beating 3.7% rise in first-quarter retail sales. "We've had a goo

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14 Jul 2010 13:42

MARKET TALK: Standard Life Investments Ups Telecoms To Heavy

1242 GMT [Dow Jones] Standard Life Investments upgrades UK telecoms to heavy from neutral. Says telecom companies have demonstrated resilience in the face of the economic slowdown and as growth resumes, thinks mobile spending in particular has the potential to recover stronger than expected - good n

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14 Jul 2010 13:42

UK MARKET TALK ROUNDUP: BROKERS COMMENTS

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com 1242 GMT [Dow Jones] Standard Life Investments upgrades UK telecoms to heavy from neutral. Says telecom companies have demons

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12 Jul 2010 16:53

CORRECT: Best Buy Europe Appoints Harrison As Operating Chief

("Best Buy Europe Appoints Harrison As COO; Antoniadis Leaves," published at 0630 GMT, misstated the number of stores open in the U.K. in the sixth paragraph. The correct version follows:) LONDON (Dow Jones)--U.S.-based electrical retailer Best Buy Co. Inc. (BBY) said it has appointed Andrew Ha

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9 Jul 2010 07:30

Best Buy Europe Appoints Harrison As COO; Antoniadis Leaves

LONDON (Dow Jones)--U.S.-based electrical retailer Best Buy Co. Inc. (BBY) said it has appointed Andrew Harrison as Chief Operating Officer for its joint venture Best Buy Europe. The group also said that Paul Antoniadis, chief executive of Best Buy Brands, has left. Antoniadis was in place to di

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6 Jul 2010 10:43

UPDATE: eXpansys Raises GBP30M To Buy Two Companies

(Adds executive comments, share price) By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Online consumer electronics retailer eXpansys PLC (XPS.LN) Tuesday announced a "transformational" deal for the firm with the purchase of two businesses controlled by major shareholder and

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6 Jul 2010 08:02

eXpansys Buys Two Firms For GBP38M; Raises GBP30M In Placing

LONDON (Dow Jones)--Online consumer electronics retailer eXpansys PLC (XPS.LN) Tuesday said it has bought two businesses controlled by major shareholder and entrepreneur Peter Jones for GBP38 million as part of its plan to build a global online technology superstore. The purchases of Data Selec

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29 Jun 2010 12:33

UPDATE: Knight Vinke Stake Continues To Buoy Kesa Shares

(Updates and rewrites, adding detail.) By Molly Neal Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Shares in retailer Kesa Electricals PLC (KESA.LN) continued to rise Tuesday amid speculation as to why activist investor Knight Vinke Asset Management LLC has built a stake in the company.

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29 Apr 2010 06:31

Thursday paper round-up: Eurozone crisis, BAE Systems, Goldman Sachs

The crisis affecting the eurozone worsened yesterday when Spain's credit rating was downgraded less than 24 hours after Greece was sent into financial meltdown. Fear of contagion gripped Europe's financial markets when the debt rating agency Standard & Poor's cut the rating on Spain's sovereign bon

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27 Apr 2010 06:36

Tuesday tips round-up: Carphone Warehouse, Kazakhmys, WPP

Carphone Warehouse trades on 17.2 times 2011 forecast earnings, which looks high enough. But with the US venture poised for a break-out and continuing good numbers in Europe, it could be argued the company is not as expensive as it appears to be. Buy says the Independent. The stars are aligned for

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26 Apr 2010 16:34

London close: Footsie keeps lead

Stocks built on Friday's gains as investors piled into miners and high street banks, although the leading index finished toward the bottom of the session's range. An increase in metal prices proved attractive, with Chile-focused copper giant Antofagasta the pick of the bunch. Kazakhmys was also wa

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26 Apr 2010 14:11

London afternoon: RBS shakes off 'sell' note

The Footsie moved sideways over the lunch time session, with the blue chip index remaining buoyed by the strength of miners and banks. Kazakhmys is wanted after it sold a 49% stake in its copper project Aktogay to Chinese company Jinchuan Group for $120m. Kazakhmys said the estimated development c

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26 Apr 2010 12:19

London midday: Footsie stays strong

Strength in the mining sector on the back of higher metals prices has given Footsie a lift. Xstrata, Antofagasta and ENRC are going well while Kazakhmys is also wanted after it sold a 49% stake in its copper project Aktogay to Chinese company Jinchuan Group for $120m. Kazakhmys said the estimated

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