FTSE reshuffle, IMI and Petrofac Out, Barratt and Taylor Wimpey In

The results of the quarterly review of the FTSE index were published last night. IMI (IMI.L) and Petrofac (PFC.L) are to leave the FTSE100 to be replaced with Barratt Developments (BDEV.L) and Taylor Wimpey (TW.L). The move reflects the recent sell off in commodities and growth in home builders. Taylor Wimpey (TW.L) and Barratt Developments […]

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FTSE Oil and Resource Shares Rise on the back of Oil rebound, China Stimulus

FTSE100 oil and mining shares are in demand this morning as US oil rebounded to $69 after falling as low as $64 previously. The biggest one day rise since October 2012. Resource and mining shares are also on the rebound, tracking large rises in Chinese shares this morning as speculation mounts that China will ease […]

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Aviva Agrees Terms of Takeover of Friends Life

Aviva (AV.L) has announced agreed details of its proposed takeover of Friends Life in an all share deal.  The deal proposed would give Friends Life shareholders ownership of around a quarter of the enlarged group with each shareholder of Friends Life being given 0.74 shares in Aviva for each share they hold. Commenting on the […]

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Mining Shares Take Hit after China Manufacturing Growth Slows

Figures out this morning show that Chinas factory activity has slowed more than expected in November, highlighting current worries about the slow down in its economy. The official purchasing managers’ index (PMI) came in at 50.3 for November, down from 50.8 in October and less than the figure expected by analysts of 50.6. Chinese economic […]

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Oil Price Slide Continues, FTSE Energy Shares Fall

The post OPEC meeting oil price slide continued on monday as US crude fell as low as $64 / barrel before recovering to $65. Brent crude also fell to $67.82 during the Asian session, the lowest since October 2009 before recovering to just below $69 barrel. The fall has continued to weigh on FTSE100 energy […]

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OPEC Meeting, Oil Price Plunge Hits FTSE Energy Shares

The eagerly awaited OPEC meeting yesterday did nothing to combat investors fears as the oil cartels decided to keep oil production at its current levels. As a reaction the price of crude fell sharply to below $70 a barrel and is currently trading at $68.5 dollars a barrel though prices seem to have now stabilised […]

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Berenburg Downgrade Hits Thomas Cook Group

Berenburg today lowered its rating on Thomas Cook Group (TCG.L) from BUY to HOLD citing problems with its business model and the ongoing transformation of the company. Berenburg in a note to investors says “We have never been fans of the TCG business model and have always seen this as a structurally challenged industry,” The […]

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BT jumps on news it is in talks to buy O2 from Telefonica

News emerged this morning from BT (BT-A.L) that is in talks with spanish giant Telefonica to buy O2. O2 the uks second biggest mobile network was originally offloaded by BT in 2001. With telefonica later purchasing O2 in 2005 for around £18Bln. BT (BT-A.L) intends to re-enter the mobile network market next year in a […]

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British American Tobacco Announce Management Change

British american Tobacco (BATS.L) today announced a series of management changes that will see current managing director of Nicoventures Des Naughton step down to focus on other ventures, this marks the end of nearly 20 years of working for the company. He is due to leave on 28th February 2015. Chief Executive Officer, Nicandro Durante, […]

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Rolls Royce Wins Delta Airlines Order according to reports

Aircraft maker Airbus in conjunction with engine manufacturer Rolls Royce (RR.L) has according to reports this morning won a series of big order from Delta Airlines. Reports on trade websites say that Airbus will sell Delta 25 A350-900s and 25 A330-900s and Rolls-Royce will be the sole-source engine supplier. The order of 50 wide body aircraft […]

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Royal Mail Group H1 Revenue Up, Parcel Business Struggles

Royal Mail Group (RMG.L) the former state owned postal operator today announced H1 figures which reported an increase in H1 revenue however pre-tax profit was slightly down on the same period last year. The headline figure showed revenue up 2% for the 6 months to 28 September to £4.5bln. Pre tax profit fell to £218m […]

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Serco issues profit warning, plans writes issue

Serco (SRP.L), the outsourcing group is under pressure this morning after releasing a statement to investors detailing a £1.5bln write down of its business and issuing a profit warning. The company says it is planning a writes issue to strengthen its capital. The company recently carried out a review of its contracts and balance sheet […]

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Bovis Homes Expects increase in FY profit

Homebuilder Bovis homes (BVS.L) this morning released an interim statement saying it expects a “significant increase in shareholder returns” this year. The company noted that this period has seen a more normal pattern of seasonal activity and that it has a strong order book going forward which supports its bullish outlook. Bovis homes also expects […]

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Balfour Beatty Loses Finance Director

Builder Balfour Beatty (BBY.L) today announced that finance director Duncan Magrath is quitting the company, this news comes just weeks after Balfour Beatty announced its fifth profit warning in the last two years. Magrath, who has been with the company for 6 years will step down in 2015 once a permenant replacement has been found. The company has […]

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HSBC Underlying Q3 Profit Falls 12%

HSBC (HSBA.L) today reported Q3 results showing a 2% increase in pretax profit for the period, however underlying Q3 profit fell 12% to $4.4Bln down $595Million from the same period last year. The company blames “net movements in significant items” for the fall. HSBC has overall this year reported a fall of 9% in the first […]

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Amlin Increases Stake in Leadenhall Capital Partners

Insurer Amlin (AML.L) has confirmed today that its previously announced deal to lift its stake in Leadenhall Capital Partners has been completed. Amlin will now own 75% of LCP the joint venture it setup in 2008, up from 40%. The deal will be done via a part aquisition of individual partners stakes. Amlin ‘s chief […]

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Playtech, Best ever Q3 Performance. Confident of Beating full Year Forecasts

Playtech (PTEC.L), the online gaming and gambling software supplier today announced a strong performance in Q3 coupled with a revised forecast as strong performance carries on into Q4. The firm was boosted by world cup sports betting and casino and total revenue for the Q3 period was £116.5M, up 28.6% on the same period last […]

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Watchdog Says HSBC broke small Business Banking Rules

UK Bank HSBC (HSBA.L) along with Irish First Trust Bank have both been found to have broken small business banking rules by forcing businesses that take out a loan with them to also open a business current account with the bank as a condition of the loan, this is a practice known as ‘bundling’. The […]

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RSA Plans Sale of Italian Business

Insurer RSA Insurance Group (RSA.L) has agreed plans to sell its Italian arms of businesses Royal Sun Alliance and Sun Insurance to ITAS Mutua. RSA will pass on insurance liabilities of £434m with their associated assets and receive a further goodwill payment of £19m. The transaction is structured as the transfer of the entire business […]

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Jimmy Choo Begins Trading at 140p, progress Flat This morning

Luxury Shoe maker Jimmy Choo (CHOO.L) today started trading on Londons Main Markets. As expected the opening price was set at 140p per share which valued the company at just over £545.5Million. The company had originally tried to set its IPO in the range 140p-180p but that was cut this week after fears the firm […]

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Credit Suisse Sees Turnaround hopes fading for M&S, Cuts target price

Credit Suisse today cut its target price for M&S (MKS.L) by a huge 15% citing concerns over recovery at the failing high street chain. The bank says it sees “few signs of a recovery” and posted a new target price of 360p down from 450p. At present it sees the only thing supporting the share […]

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BWin.Party Q3 Revenue Rises Boosted by World Cup

Bookmakers and gaming giant Bwin.Party (BPTY.L) announced a slight rise of 2% in revenue for the third quarter, the company enjoyed a boost in sports betting over the world cup period. Revenue for sports betting was up 11% over the period as punters placed more bets on the World Cup and despite a later start […]

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Jimmy Choo expected to start trading at 140p

Jimmy Choo’s IPO is expected to set its stock market price at 140p when trading begins this Friday on Londons Main Market. This is at the lower end of its expected price range. The luxury shoe retailer had expected to be able to make a market valuation of £702Million but has fallen short of this […]

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Booker on course to meet Full Year Targets

Booker (BOK.L), the food wholesaler today announced a £67.4M pre tax profit for the first half an increase of £2.3M from the same period last year. Profit after tax rose to £55.3M, up 3% and underlying earnings per share was up 16% at 3.17p. The company declared an interim dividend of 0.52p per share, up […]

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Warren Buffet Cuts Stake in Tesco

Well known investor, the billionaire Warren Buffet has cut his stake in faltering supermarket TESCO (TSCO.L) to under 3%. Tesco was obliged to report the change in Holdings this morning via an RNS. Buffets Berkshire Hathaway Inc at one point owned over 5% of Tesco but since 2012 this figure has been slowly dwindling. Buffet stated […]

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BG Group Starts Production Early in Brazil

Oil producer BG Group (BG.L) today announced that it has begun production earlier than expected at its Iracema asset, offshore of Brazil. The area was a significant discovery as part of the Santos Basin project. The Cidade De Mangaratiba FPSO is able to process around 150000 barrels of oil a day and 283 cubic gas […]

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Jimmy Choo IPO Coming Soon

Luxury Shoe Manufacturer Jimmy Choo is due to join Londons Main Market Soon in an IPO. The company is looking to raise around £175Million and it has already been announced the initial share offering has been completely subscribed by investors and which will value the company around £700Million. You will be able to trade Jimmy […]

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Bellways records Strong results, Beats Forecasts

Homebuilder, Bellway (BWY.L) today announced a strong set of results beating analysts forecasts and recording a pre tax profit of £246M, ahead of forecasts of £238M. This was up 75% on the previous period. This has been a boom time for the company and it predicts further growth of around 10% in the next financial […]

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Hargreaves Lansdown Reports Record Assets Under Administration

Hargreaves Lansdown (HL.L), the financial services group today announced record Assets under Administration (AuA) in the first quarter, this comes despite a recent weakening of investor confidence as markets remain volatile. the headline figure came in at £47Bln to the end of september, this was up from £46.9Bln in the previous three months. In their […]

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