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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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10 Jun 2014 08:29

Tuesday tips round-up: Man Group, Dixons Carphone

Analysts like hedge-fund manager Man Group´s drive to diversify away from its flagship AHL fund - the core of the new managemeant team´s strategy. The best example of this better balance are the successful negotiations with regulators so as to be better able to employ the group´s cash reserves now t

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9 Jun 2014 16:05

MARKET COMMENT: UK Stocks Close Mixed; Lloyds, Babcock Down

LONDON (Alliance News) - The FTSE 100 ended slightly higher Monday, while its mid-cap peer index lost ground, in a subdued session that had little in the way of economic or major corporate news to drive it.

The corporate news that there was for blue-chip stocks was mainly negative,

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9 Jun 2014 11:21

UK MIDDAY BRIEFING: Lloyds Prices TSB IPO Below Book Value

LONDON (Alliance News) - Lloyds Banking Group Monday set the price range of the initial public offering of TSB Banking Group PLC on the London Stock Exchange at between 220 pence to 290 pence per share, which would value the spun-off retail bank at about GBP1.28 billion at the

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9 Jun 2014 10:41

TOP NEWS: Lloyds Price TSB IPO Below Book Value

LONDON (Alliance News) - The following is a summary of top news stories Monday.
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COMPANIES
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Lloyds Banking Group set the price range of the initial public offering of TSB Banking Group PLC on the London Stock Exchange at between 220 penc

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9 Jun 2014 10:22

UK WINNERS & LOSERS: Lloyds Among Big Losers In FTSE 100

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 100 - WINNERS
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Capita, up 1.7%. Numis Securities has upgraded Capita to Buy, from Hold, and increased its pric

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9 Jun 2014 09:55

MARKET COMMENT: FTSE 100 Gains On Asian Data But Lloyds Declines

LONDON (Alliance News) - The FTSE 100 is modestly higher Monday, as investor sentiment remains broadly positive after a strong US jobs report on Friday, followed by some better Chinese data over the weekend and an upward revision to Japan's GDP. By mid-morning Monday the FTSE 100 is up 0.3%

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8 Jun 2014 16:25

Sunday newspaper round-up: TSB float, Barclays, Carphone Warehouse

Lloyds Banking Group will price TSB at up to £1.44bn when it floats the new bank on the stock market - 10% below the new bank's book value, the Sunday Telegraph said. The valuation is designed to ensure a smooth reception for the initial public offering, making the bank priced "to go". Lloyds thinks

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5 Jun 2014 15:57

AO World Set For Big European Expansion, Germany First

LONDON (Alliance News) - AO World PLC, the online domestic appliance retailer that listed in London at the end of February, Thursday said it is planning a big expansion into Europe, starting in Germany and then into neighbouring countries like the Netherlands and Belgium. Its growth ambitio

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5 Jun 2014 09:14

UK BROKER RATINGS: Liberum Initiates Financials Services Coverage

LONDON (Alliance News) - The following UK shares received analyst recommendations Thursday morning:
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FTSE 100
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LIBERUM INITIATES SCHRODERS WITH 'BUY' - TARGET 2,879 PENCE
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NOMURA CUTS SAINSBURY PRICE TARGET TO 285 (3

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19 May 2014 10:29

TOP NEWS: AstraZeneca Rejects Pfizer's GBP69 Billion Final Offer

LONDON (Alliance News) - The following is a summary of top news stories Monday.
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COMPANIES
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AstraZeneca PLC rejected a final GBP69 billion takeover proposal from Pfizer Inc, potentially ending the US company's interest i

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19 May 2014 10:28

EU mergers and takeovers (May 19)

BRUSSELS, May 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Affiliates of private equity firms KKR and H.I.G. Capital to acquire Estro Groep B.V., a Dutch provider of child day

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19 May 2014 10:24

UK WINNERS & LOSERS: AstraZeneca Falls On Pfizer Rejection

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 100 - WINNERS
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EasyJet, up 1.5%, and International Consolidated Airlines Group, up 0.7%. The

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19 May 2014 09:19

EU regulators to decide on Carphone, Dixons deal by June 25

BRUSSELS, May 19 (Reuters) - European Union antitrust regulators will decide by June 25 whether to clear the 3.8-billion-pound ($6.40 billion) merger of British mobile phone retailer Carphone Warehouse and Dixons Retail, the European Commission said on Monday. The companies announced a deal

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19 May 2014 07:16

Dixons Retail To Sell ElectroWorld Business In Central Europe

LONDON (Alliance News) - Dixons Retail PLC, the electronics retailer which agreed to merge with mobile phone retailer Carphone Warehouse Group PLC last week, said Monday that it is selling off its ElectroWorld business in central Europe. The group said it is selling the loss-making business

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19 May 2014 06:35

UK's Dixons to sell central European operations

LONDON, May 19 (Reuters) - Dixons Retail, Europe's No. 2 electricals retailer which last week said it planned to merge with Carphone Warehouse, has agreed to sell its ElectroWorld operations in Central Europe to local specialist NAY a.s.. Electroworld operates 26 specialist electrical retai

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