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Share Price: 55.80
Bid: 42.40
Ask: 56.98
Change: 0.00 (0.00%)
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London midday: Markets celebrate global corporate earnings

Thu, 19th Jul 2012 11:45

- Corporate earnings lift sentiment- UK June retail sales meet forecasts as prices drop- Kingfisher falls after rain dampens salesEuropean stock markets were firmly in the blue on Thursday morning on the back a barrage of upbeat quarterly earnings reports from blue chips across the globe."A combination between a quiet Eurozone and better than expected corporate earnings are really lifting sentiment," said analyst Craig Erlam from Alpari. Heavyweight companies from across the globe have boosted the mood with their earnings today, including eBay, Nokia, AkzoNobel, Sandvik and Novartis. Morgan Stanley, Microsoft and Google are expected to release their results later today.UK retail sales volumes increased by 0.1% month-on-month (1.6% year-on-year) during the month of June, according to the latest data available from the Office for National Statistics (ONS). The consensus estimate had been for a rise of 0.6% month-on-month (2.4% year-on-year).Meanwhile, investors will be digesting last night's release of the Federal Reserve's Beige Bookwhich said that the US economic grew at a "modest to moderate" pace over the last month. Stocks closed higher yesterday after Fed Chairman Ben Bernanke said that he does not expect the US economy to slip back into recession. Analyst Cooper Howes from Barclays Capital said:"The Fed will not feel compelled to act (or not act) on this report alone, and the decision of whether or not to pursue further monetary stimulus will depend on developments in the economic data and financial markets between now and the [next] meeting." FTSE 100: Rainfall dampens growth at Kingfisher Kingfisher, Europe's largest home improvement retailer, was among the worst performers after sales were hit by the extraordinary bad weather in the second quarter, though trading in the UK and Ireland was resilient. ??Engineering groups IMI, GKN and Weir was high risers after Swedish peer Sandvik released better-than-expected second-quarter results. Meanwhile, Croda International gained on the back of positive read-across from AkzoNobel. ??Natural gas group BG was under the weather after Credit Suisse downgraded the stock to 'neutral' and cut its target price from 1,660p to 1,500p. Mining firm Vedanta dropped after HSBC slashed its target from 1,320p to 1,000p, though it maintained its 'overweight' rating. ??Banking group Lloyds was higher after it agreed with the Co-op to sell hundreds of its branches for an initial consideration of £350m, and up to an additional £400m in present value. ?FTSE 250: Board changes move stocksHalfords advanced after saying that Chief Executive David Wild is on his bike leaving the non-executive Chairman Dennis Millard in charge of the shop while the struggling seller of bikes and car parts looks for a replacement. The group also reported that LFL sales gained 0.9% in the five weeks to June 29th. ??Oilfield services firm Wood Group rose after saying that Chairman Sir Ian Wood is to retire in November and will be succeeded by the group's CEO, Allister Langlands. ??In contrast, West Africa-focused gold miner Avocet Mining fell after it revealed that CEO Brett Richards is to resign and will be replaced by the group's Chief Operating Officer (COO). ??Digging deeper at the Simrit-2 exploration well in the Kurdistan region of Iraq has paid off for oil exploration firm Afren as the well's total net oil pay has increased to 460 metres. Shares jumped 7%. ??Elsewhere, AIM-listed sports retailer JJB dropped after saying that it is having to slow down its refurbishment programme as poor sales mean the group will need an injection of cash from its backers earlier than planned. FTSE 100 - RisersBurberry Group (BRBY) 1,277.00p +3.65%Petrofac Ltd. (PFC) 1,495.00p +2.05%Royal Bank of Scotland Group (RBS) 208.30p +1.96%IMI (IMI) 806.00p +1.90%Antofagasta (ANTO) 1,092.00p +1.87%International Consolidated Airlines Group SA (CDI) (IAG) 159.10p +1.79%ICAP (IAP) 316.60p +1.77%Smiths Group (SMIN) 1,093.00p +1.77%Experian (EXPN) 965.00p +1.69%ARM Holdings (ARM) 485.70p +1.59%FTSE 100 - FallersBG Group (BG.) 1,290.00p -2.09%National Grid (NG.) 661.50p -1.34%Kingfisher (KGF) 271.70p -1.27%United Utilities Group (UU.) 687.50p -1.22%Aberdeen Asset Management (ADN) 257.90p -1.00%CRH (CRH) 1,201.00p -0.99%Imperial Tobacco Group (IMT) 2,510.00p -0.95%Fresnillo (FRES) 1,417.00p -0.91%Randgold Resources Ltd. (RRS) 5,675.00p -0.61%Centrica (CNA) 320.50p -0.53%FTSE 250 - RisersHalfords Group (HFD) 210.20p +6.48%Afren (AFR) 126.30p +6.22%Paragon Group Of Companies (PAG) 183.90p +5.69%Elementis (ELM) 195.90p +4.42%Fenner (FENR) 351.80p +4.24%TUI Travel (TT.) 176.30p +4.01%Regus (RGU) 88.00p +3.83%Electrocomponents (ECM) 219.30p +3.69%Howden Joinery Group (HWDN) 131.70p +3.54%Cookson Group (CKSN) 628.50p +3.46%FTSE 250 - FallersTalkTalk Telecom Group (TALK) 182.20p -4.00%Ashtead Group (AHT) 257.00p -2.69%Ultra Electronics Holdings (ULE) 1,558.00p -2.44%Avocet Mining (AVM) 67.60p -2.31%Lancashire Holdings (LRE) 780.50p -1.20%Bank of Georgia Holdings (BGEO) 1,119.00p -0.89%easyJet (EZJ) 558.50p -0.80%Galliford Try (GFRD) 644.00p -0.77%Gem Diamonds Ltd. (DI) (GEMD) 211.60p -0.70%British Assets Trust (BSET) 118.10p -0.67%BC
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26 Jul 2023 13:53

Banks tread tricky tightrope with politically exposed clients

LONDON, July 26 (Reuters) - The war of words between NatWest and erstwhile customer Nigel Farage has underscored the challenges global banks face in handling clients who could be defined as a politically exposed person, or PEP.

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26 Jul 2023 12:21

Shares fall as Fed rate rise looms

Euro STOXX down 0.9%

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26 Jul 2023 12:05

European banks flag bad loan risks as global economy falters

LONDON/MILAN/MADRID, July 26 (Reuters) - Europe's major banks, including Deutsche Bank and Lloyds Banking Group, on Wednesday pointed to the rising risk of bad loans as the global economy struggles with slow growth and high inflation.

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26 Jul 2023 10:04

TOP NEWS: Lloyds raises guidance following "robust" half year earnings

(Alliance News) - Lloyds Banking Group PLC said it was "well positioned to deliver" on its ambitions and raised its full-year guidance off the back of higher income and profit in the last six months.

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26 Jul 2023 09:25

NatWest's Alison Rose, trail-blazing finance boss, bows out after Farage breach

LONDON, July 26 (Reuters) - NatWest's departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the state-backed lender through the COVID-19 pandemic and market fallout from war in Europe and chaos in Westminster. But ultimately it was committing the cardinal sin of breaching the confidence of a client, former Brexit Party leader Nigel Farage, that cost her her job.

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26 Jul 2023 07:52

LONDON BRIEFING: Lloyds raises guidance; Rio Tinto profit down

(Alliance News) - Stocks in London are called to open lower on Wednesday, following a slew of earnings from UK companies, as well as an interest rate decision from the US Federal Reserve.

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26 Jul 2023 07:03

Lloyds Bank interim profits surge 23%

(Sharecast News) - Lloyds Bank on Wednesday reported another surge in earnings, although slightly below expectations, and set aside more cash for bad loans amid pressure to provide hard pressed savers better returns.

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25 Jul 2023 12:26

Wednesday preview: Federal Reserve, Lloyds in the spotlight

(Sharecast News) - All eyes on Wednesday would be on the U.S. Federal Reserve and whether or not it signaled that interest rates hikes would stop after this policy meeting.

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25 Jul 2023 09:21

Mitie boosts revenue in "traditionally" lower first quarter

(Alliance News) - Mitie Group PLC on Tuesday reported robust revenue growth in its first quarter with GBP1.1 billion in new or extended contracts, providing optimism for the year ahead.

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24 Jul 2023 13:02

UK government to haul in banks over account closures

LONDON, July 24 (Reuters) - Britain's finance ministry will request a meeting with major lenders to discuss concerns that banks have closed some customer accounts over their political views, after a public spat between former Brexit party leader Nigel Farage and NatWest.

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24 Jul 2023 11:23

IN BRIEF: H&T increases bank facility with Lloyds to GBP50 million

H&T Group PLC - Surrey-based pawnbroker and retailer of new and pre-owned jewellery and watches - Notes increase in the financing facilities provided by its "longstanding" lender Lloyds Banking Group PLC. Expands total facility to GBP50 million from GBP35 million previously. This includes a GBP45 million revolving credit facility that expires in December 2025 and has the option to extend for up to two more years. It also has a GBP5 million overdraft facility that renews annually. The interest rate on the RCF is increased to 2.4 to 3.3 percentage points above the sterling overnight interbank average rate from 1.7 points. The overdraft keeps the existing terms of 1.7 points above the Bank of England base rate. There is no change to existing banking covenants.

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24 Jul 2023 06:53

UK city minister to warn banks over "de-banking" customers

(Alliance News) - City minister Andrew Griffith has summoned bank chiefs for a meeting to discuss how customers can be protected from "being de-banked" after Coutts cut ties with Nigel Farage.

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19 Jul 2023 15:52

Britain's banks slow in passing higher rates to savers -watchdog

LONDON, July 19 (Reuters) - Britain's banks are not passing on higher interest rates to savers fast enough, though this is expected to accelerate in coming months as a new duty to provide good outcomes for consumers comes into force, UK financial regulators said on Wednesday.

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19 Jul 2023 15:17

Britain's banks too slow in passing higher interest rates to savers, says watchdog

LONDON, July 19 (Reuters) - Britain's banks are not passing on higher interest rates to savers fast enough, though this is expected to accelerate in coming months as a new duty to provide good outcomes for consumers comes into force, UK financial regulators said on Wednesday.

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19 Jul 2023 14:35

UK earnings, trading statements calendar - next 7 days

Thursday 20 July 
3i Group PLCTrading Statement
AJ Bell PLCTrading Statement
Anglo American PLCTrading Statement
Babcock International Group PLCFull Year Results
BHP Group LtdTrading Statement
Diploma PLCTrading Statement
Dunelm Group PLCFull Year Results
easyJet PLCTrading Statement
Howden Joinery Group PLCHalf Year Results
IG Group Holdings PLCFull Year Results
Intermediate Capital Group PLCTrading Statement
International Distributions Services PLCTrading Statement
Kier Group PLCTrading Statement
PensionBee Group PLCTrading Statement
Pharos Energy PLCTrading Statement
Premier Foods PLCTrading Statement
Premier Miton Group PLCTrading Statement
SSE PLCTrading Statement
Taylor Maritime Investments LtdFull Year Results
Vistry Group PLCTrading Statement
Volution Group PLCTrading Statement
Friday 21 July 
Close Brothers PLCTrading Statement
Glencore PLCTrading Statement
Petershill Partners PLCTrading Statement
Thruvision Group PLCFull Year Results
Monday 24 July 
discoverIE Group PLCTrading Statement
Cranswick PLCTrading Statement
Glantus Holdings PLCTrading Statement
MoneySupermarket.com PLCHalf Year Results
Ryanair Holdings PLCQ1 Results
Science Group PLCHalf Year Results
Shanta Gold LtdTrading Statement
South32 LtdTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 25 July 
City of London Investment Group PLCTrading Statement
Compass Group PLCTrading Statement
Croda International PLCHalf Year Results
Games Workshop Group PLCFull Year Results
Greencore Group PLCTrading Statement
Hummingbird Resources PLCTrading Statement
MITIE Group PLCTrading Statement
Paragon Banking Group PLCTrading Statement
Reach PLCHalf Year Results
Smart Metering Systems PLCTrading Statement
Tristel PLCTrading Statement
Tyman PLCHalf Year Results
Unilever PLCHalf Year Results
Unite Group PLCHalf Year Results
Wednesday 26 July 
Aptitude Software Group PLCHalf Year Results
Breedon Group PLCHalf Year Results
Conduit Holdings LtdHalf Year Results
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
FRP Advisory Group PLCFull Year Results
Gresham Technologies PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Lloyds Banking Group PLCHalf Year Results
Marston's PLCTrading Statement
Nichols PLCHalf Year Results
Primary Health Properties PLCHalf Year Results
Rathbones Group PLCHalf Year Results
Rio Tinto PLCHalf Year Results
Science Group PLCHalf Year Results
Van Elle Holdings PLCFull Year Results
  
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