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London midday: Footsie trades sideways

Wed, 07th Oct 2009 12:06

Footsie has traded sideways all morning with traders cautious after yesterday's surge in share and commodity prices. Predictions of a quiet start on Wall Street have added to the low key mood.Supermarket Sainsbury's is off a few points after a 4.6% rise in like-for-like sales excluding fuel in the quarter to 3 October came in lower than expected. Excluding the impact of the VAT cut, like-for-like sales in the quarter, the second of the company's financial year, were up by 5.4%, marginally below the 5.5% level predicted by Numis Securities.Tesco and Morrisons, both weakened on the comments from Sainsbury boss Justin King who warned that he expects market growth to slow in the coming months due to reduced inflation.Also on the slide is insurer Admiral which is trading ex-dividend today.Intercontinental Hotels is one of the best risers after an upgrade from Citigroup to 'buy' from 'hold'. A new higher price target from Panmure Gordon of 910p also helped. The broker said that there were early signs of a recovery in the business travel market and it is hopeful over the relaunch of the Holiday Inn brand. Gold miner Randgold Resources is wanted after gold hit a new all-time high yesterday while silver specialist Fresnillo, which also has some gold interests, is also on the up.Elsewhere in the mining sector Kazakhmys is tending firmer after Goldman Sachs issued a bullish note on commodity prices; the Kazakh mining company is on Goldman's conviction buy list.Sausages and pork products supplier Cranswick said sales were strongly ahead at the interim stage, helped by a contribution from the recently acquired Bowes of Norfolk. Sales in the six months to 30 September rose by 19% from a year earlier, with 7% attributable to the contribution from Bowes, Cranwsick, one of whose main customers is Sainsbury's, said.White collar recruiter Michael Page made a third quarter operating profit and noted 'increasing degrees of stabilisation across our regions' in the last three months. Its Asia Pacific and Americas regions both recorded sequential growth.Defence outfit Cobham has won two orders from global security firm Northrop Grumman for digital vehicle intercom systems. The orders are worth $40m and are for the ongoing provision of Cobham's ROVIS (AN/VIC-3) digital intercom systems to the US army.Struggling Irish airline Aer Lingus is to cut a further 676 jobs as part of a swingeing cost cutting programme designed to reduce operating costs by €97m by the end of 2011. The job cuts are in addition to 100 staff on fixed term contracts who will leave at the end of the year. The shares are up on hopes Ryanair will make a third bid suggested analysts.With expensive home improvements low on most householders' list of priorities, luxury wallpaper and fabrics group Walker Greenbank posted a sharp drop in profits as revenues fell. Investors took heart, however, from chairman Terry Stannard's assertion that sales trends appear to be improving.Chocolate maker and retailer Thorntons had a solid three months to end September with sales up by 2.3% to £46.8m despite a big customer going under.Traders who took a punt on online bookmaker Sportingbet's results were rewarded when the company announced a surge in annual pre-tax profit after strong demand from Europe. The bookie, which has reinstated dividend payments, said the new financial year has started well.

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15 Apr 2014 07:50

UK MORNING BRIEFING: Aggreko Leads After Mixed Results

LONDON (Alliance News) - Aggreko is leading the FTSE 100 in early trading Tuesday after the temporary power company said it has seen mixed results in its first quarter, with strong underlying revenue growth in two of its three regions being impacted by adverse currency movements as previously exp

1 Apr 2014 10:45

Walker Greenbank Brand Launches Overseas-Focused Range

LONDON (Alliance News) - Walker Greenbank PLC said Tuesday its Harlequin brand has launched Anthology, two collections of textured wallpapers designed for overseas markets. The luxury interior furnishings group said Harlequin has launched Anthology, two collections of contemporary textured

17 Mar 2014 11:39

Walker Greenbank Launches Collection In Emma Bridgewater Collaboration

LONDON (Alliance News) - UK-based interior furnishing company Walker Greenbank PLC said Monday that its Sanderson brand has launched a collection of wallpapers and fabrics in a collaboration with pottery designer and manufacturer Emma Bridgewater. The group said the collection consists of t

25 Feb 2014 11:12

CORRECT: Walker Greenbank Hires Britvic Finance Head

[An item published at 08:03 February 25 2014 misspelt Gant's name. The correct version follows.] LONDON (Alliance News) - Walker Greenbank PLC said Tuesday it has hired Mike Gant as the company's Chief Financial Officer. Gant joins from FTSE 250-listed soft drinks firm, Britvic PLC, w

25 Feb 2014 08:22

Britvic's Gant appointed as Walker Greenbank's new finance chief

Interior furnishing group Walker Greenbank announced the appointment of Mike Gant, Britvic's head of finance, as its new Chief Financial Officer. Gant, who will assume his new post on March 3rd, joins Walker Greenbank from the soft drinks firm where he acted as finance director of its Internationa

25 Feb 2014 08:03

Walker Greenbank Hires Britvic Finance Head

LONDON (Alliance News) - Walker Greenbank PLC said Tuesday it has hired Mike Grant as the company's Chief Financial Officer. Grant joins from FTSE 250-listed soft drinks firm, Britvic PLC, where he has served as finance director of the GB and International business units since 2009. H

4 Feb 2014 16:58

STOCKS NEWS EUROPE-UK small caps fall, tracking weaker blue-chips

The FTSE Small Cap index falls 0.5 percent, with the blue-chip FTSE 100 index closing 0.3 percent lower while the FTSE 250 mid-cap index declines by 0.1 percent. The FTSE AIM All Share Index ends 0.1 percent higher. Quindell rises 13.6 percent after Canaccord Genuity raises its targe

4 Feb 2014 11:33

Walker Greenbank Says Full-Year Profit At Top End Of Predictions

LONDON (Alliance News) - Luxury interior furnishings group Walker Greenbank PLC Tuesday said adjusted pretax profit for the year ended January 31, is expected to be ahead of the top end of analyst forecasts, following a strong second-half. The company, which operates through brands includin

4 Feb 2014 09:20

Tuesday broker round-up UPDATE

Alumasc: FinnCap ups target price from 142p to 167p and retains its buy recommendation. Barratt Developments: Barclays increases target price from 444.7p to 471.2p and keeps an overweight rating. Bellway: Barclays raises target price from 1498.1p to 1552.6p, but keeps an underweight rating. Berke

4 Feb 2014 08:29

UK MORNING BRIEFING: Shares Open Lower; Ocado Losses Widen

LONDON (Alliance News) - UK shares have opened lower Tuesday amid continued worries about the US economy.

Ocado shares are down 4.5% as it reported a wider pretax loss for 2013, though the online grocer said it expects to reach profitability this year.

Br

19 Nov 2013 13:53

Walker Greenbank Commissions 2nd Digital Printer At Lancaster Factory

1 Oct 2013 10:07

Walker Greenbank Profits Buoyed By Strong Sales Growth

1 Oct 2013 09:35

Tuesday broker round-up UPDATE

African Minerals: Credit Suisse reduces target price from 350p to 280p and downgrades to neutral. British Land: Societe Generale cuts target price from 670p to 620p and downgrades to hold. Derwent London: Societe Generale reduces target price from 2610p to 2470p downgrading to hold. Faroe Petrole

1 Oct 2013 08:07

Walker Greenbank enjoys strong overseas performance

Luxury interior furnishings group Walker Greenbank reported a 13 per cent increase in underlying profit and ramped up its dividend payment by over a fifth. The group, whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, said adjusted profit before tax rose to £3.06m in the si

4 Sep 2013 10:06

Walker Greenbank upbeat about first half

Luxury interior furnishings group Walker Greenbank has reported a period of 'successful' trading for the half year to the end of July. It said its brand sales, manufacturing and licence income all continued to delivere a positive performance and that margins had been strong. The group added that

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