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FTSE market news from the London Stock Exchange: FTSE 100, FTSE 250, and FTSE 400

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    October 18, 2007

    House builders, property developers down in London

    Filed under: Companies, DSG international, Hammerson, Mitchells & Butlers, Wolseley, Smith & Nephew, Barratt Developments, St Modwen, Rexam, Sports Direct, Taylor Wimpey, Quintain Estates & Development, Brixton

    In London on Thursday, the FTSE 100 dropped 1.02 percent to 6,609.4 and the FTSE 250 was 1.1 percent lower to 11,411.6.

    House builders and property developers and investors did poorly on both indices.

    Investor and developer Brixton (LSE: BXTN) was down 4.42 percent to 345.75p, while Hammerson (LSE: HMSO) was 4.74 percent lower to £10.66.

    Quintain Estates & Development (LSE: QED) dropped 4.87 percent to 673.5p and St. Modwen Properties (LSE: SMP) fell 4.9 percent to 480.75p.

    Builder and developer Barratt Developments (LSE: BDEV) was down 5.12 percent to 658.5 while Taylor Wimpey (LSE: TW) dropped 5.15 percent to 253.25.

    In addition, building materials group Wolseley (LSE: WOS) was 4.57 percent lower to 786p.

    The biggest loser on the 100, however, was consumer electronics retailer DSG International (LSE: DSGI), which fell 8.75 percent to 124.1p after it reported that first half profits were hurt by poor sales.

    Elsewhere in the retail sector, sporting goods retailer Sports Direct (LSE: SPD) dropped 5.11 percent to 148.5p.

    Medical devices manufacturer Smith & Nephew (LSE: SN) turned in the best performance on the 100 with a gain of 2.67 percent to 615p.

    Other gainers included beverage cans maker Rexam (LSE: REX), which was up 1.99 percent to 538p and pubs operator Mitchells & Butlers (LSE: MAB) with a gain of 1.58 percent to 641p.





    September 17, 2007

    Northern Rock loses another 35 percent

    Filed under: Companies, Northern Rock, Enterprise Inns, Bradford & Bingley, Alliance & Leicester, BT Group, Northern Foods, Smith & Nephew, Persimmon, Barratt Developments, Minerva, Sage, Gyrus, Hikma Pharmaceuticals, Go-Ahead Group

    London’ equities markets saw substantial declines again on Monday.

    The FTSE 100 was 1.69 percent lower to 6,182.8 and the FTSE 250 dropped 1.91 percent to 10,745.3.

    Northern Rock (LSE: NRK) was the biggest decliner on the 100 as it fell 35.45 percent to 282.75p, followed closely by Alliance & Leicester (LSE: AL) with a drop of 31.27 percent to 600p.

    Over on the 250, mortgage lender Bradford & Bingley (LSE: BB) was 15.39 percent lower to 279p.

    But the worst performer on the 250 was property developer Minerva (LSE: MNR), which was down 16.34 percent to 216.25. House builders fell on the 100.

    Persimmon (LSE: PSN) dropped 6.89 percent to 946p, while Barratt Developments was 7.29 percent lower to 769p.

    Pubs operator Enterprise Inns dropped 7.37 percent to 578p. Back on the 250, surgical supplies company Gyrus Group (LSE: GYG) was 8.08 percent lower to 398p.

    The best performer of the session on the 250 was drug maker Hikma Pharmaceuticals (LSE: HIK) with a gain of 4.68 percent to 425p.

    Northern Foods (LSE: NFDS) added 4 percent to 97.5p, while rail and bus transport firm Go-Ahead Group (LSE: GOG) was up 1.66 percent to £25.18.

    Software maker Sage Group (LSE: SGE) had the best day on the 100, where it gained 2.77 percent to 250p.

    Medical devices manufacturer Smith & Nephew (LSE: SN) added 0.7 percent to 572p, while in the telecommunications sector BT Group (LSE: BT.A; NYSE: BT) was 0.16 percent higher to 316.75p.





    January 30, 2007

    FTSE 100, 250 both see gains on session

    Filed under: Companies, Cadbury Schweppes, Scottish & Southern Energy, British Energy, J Sainsbury, Smith & Nephew, Drax Group

    Trade in the London equities markets was slow again on Tuesday, as only 2.6 billion shares changed hands on the session. Still, both the FTSE 100 and FTSE 250 saw gains on the day. The 100 added just 0.03 percent to 6,242, while the 200 was 0.2 percent higher to 11,131.

    The energy sector was mixed. Reports that it was having problems at two of its nuclear power stations sent British Energy 3.9 percent lower to 444p, amid further reports that it is being hurt by dropping wholesale prices for power. Bids rumors helped Scottish & Southern Energy to hold steady at £14.75, while Drax Group added 2.2 percent to 690½p as investors hoped for higher dividends.

    J Sainsbury added 0.6 percent to 435p on rumors that a private equity house could be considering a bid. Numis Securities repeated its “buy” recommendation on the supermarket and said that the value of its properties could be an attraction.

    In the food and beverages sector, Cadbury Schweppes added 1.4 percent to 576½p on multiple rumors that included the possibility of a bid from private equity and a spin off of its soft drinks unit.

    Medical devices manufacturer Smith & Nephew was 1.8 percent higher to 577½p ahead of its full-year report, due next week. Analysts said that it was helped by good reports from US rivals Zimmer and Stryker.

    Vodafone dropped 1.3 percent to 147p ahead of a trading update, due Wednesday.





    January 25, 2007

    Publisher Pearson gains on bids rumors

    Filed under: Companies, GlaxoSmithKline, British Land, AstraZeneca, Shire, Hammerson, Pearson, Smith & Nephew

    The FTSE 100 dropped 0.6 percent to 6,269.3 in London on Thursday, while the FTSE 250 was 0.2 percent lower to 11,171.1. The 100 briefly reached a six-year high, at 6,335.1, early in the session but dropped later on the slow start in the New York markets.

    Real estate was higher on the session after JP Morgan reminded that the UK sector is currently a better bargain than its European rivals. Hammerson added 0.2 percent to £15.03, while British Land was 0.6 percent higher to £16.21.

    Publisher Pearson added 0.9 percent to 817½p on bids rumors and after Citigroup upped its target share price to 900p.

    The pharmaceuticals sector declined after Credit Suisse said that the sector would extend its underperformance into this year after a sector-wide decline of 5.2 percent last year, mentioning the trouble companies were having bringing new drugs to market and keeping them there once introduced. Shire dropped 1 percent to £10.99, while AstraZeneca fell 1.3 percent to £28.44 and GlaxoSmithKline was 1.4 percent lower to £13.93.

    In a related news, medical devices manufacturer Smith & Nephew was 1.4 percent lower to 570½p after it was suggested that its next report might not show as much of an improvement in margins as is hoped.





    January 23, 2007

    FTSE 100 adds 0.6 percent on session

    Filed under: Companies, BG Group, Royal Dutch Shell, BP, Tesco, J Sainsbury, Wm Morrison, Smith & Nephew, WH Smith, Gyrus

    Equities markets were mixed in London on Tuesday. The FTSE 100 added 0.6 percent to 6,227.6, while the FTSE 250 fell 0.6 percent to 11,102.2.

    Oil companies were higher on takeover rumors, as it was said that either Royal Dutch Shell or BP could be interested in bidding on BG Group. Shell added 0.6 percent to £17.18, while BP gained 0.7 percent to 545p and BG Group was 1.7 percent higher to 662½p.

    Supermarkets were also higher on the session. Wm Morrison was up 0.1 percent to 284p on positive comments from Deutsche Bank, which reconfirmed its “buy” recommendation and target share price of 320p. Elsewhere in the sector, Tesco gained 0.3 percent to 415¼p, while J Sainsbury added 0.8 percent to 438p on talk that private equity has approached with a bid.

    In other retail news, magazine and bookseller WH Smith gained 5.6 percent after it issued a positive trading statement.

    Among makers of medical devices, Smith & Nephew was 2.3 percent higher to 566¾p after it announced a special dividend and held out the possibility of more cost cutting measures. Goldman Sachs said that the company, thought to be a possible bid target from private equity, would forestall such a bid. Elsewhere in the sector, Gyrus added 1.1 percent to 406¾p.





    December 21, 2006

    Carnival adds 2.9 percent

    Filed under: Companies, Carnival, Burren Energy, Kazakhmys, Rio Tinto, Antofagasta, British Energy, Vedanta Resources, Smith & Nephew

    The London equities markets were mixed on the last full trading day before Christmas, with the FTSE 100 0.2 percent lower to 6,183.7 but the FTSE 250 adding 0.2 percent to 11,066.4. Volume was light, with around 2 billion shares trading hands.

    Miners were hurt by dropping copper prices. Vedanta Resources dropped 16p to £11.77. Antofagasta fell 2.2 percent to 496½p, while Rio Tinto was 2.5 percent lower to £26.65 and Kazakhmys dropped 3.7 percent to £10.89.

    British Energy fell 3.3 percent to 520½p after it said on Wednesday that two of its nuclear power stations will not be back in service until March. Citigroup reduced its rating on the company to “sell” and assigned a target share price of 430p. Elsewhere in the energy sector, Burren Energy dropped 5 percent to 840p after investors worried that the death of the president of Turkmenistan will put its interests there in jeopardy. Burren currently produces about 18,000 barrels of oil per day from its field there.

    Smith & Nephew added 3.4 percent to 537¼p, its highest share price in nine months, on rumors that the group of private equity buyers that recent purchased US rival Biomet were also interested in bidding for S&N.

    In the leisure sector, cruise ship operator Carnival was up 2.9 percent to £25.36 on a fourth quarter report that rose above what had been expected.





    December 18, 2006

    Cairn energy down again on Indian IPO

    Filed under: Companies, Carnival, Cairn Energy, Next, Smith & Nephew, Petrofac

    The London equities markets were mixed on Monday on slow trade in the run-up to Christmas. The FTSE 100 dropped 0.2 percent to 6,257.4, while the FTSE 250 was up a bare 1.7 points to 11,087.7, with less than 2.5 billion shares trading hands.

    In the leisure sector, cruise ship operator Carnival added 2.2 percent to £25.04 as oil prices declined. Also helping was a repeated “buy” rating from Deutsche Bank.

    Retailer Next benefited from an increased target share price and positive comments from Merrill Lynch. The clothing retailer was 1.3 percent higher to £18.14.

    Smith & Nephew added 8.1 percent to 521¾p for the biggest gain on the 100 on the session. Merrill Lynch upgraded the orthopedics company to “buy” and put its target share price at 580p on the theory that it is a target for takeover after it lost its bid to purchase US company Biomet.

    Oilfield services company Petrofac saw the largest gain on the 250, gaining 4.8 percent to 395¾p, a new record, after it said its profits for the year will hit the top of the range of expectations.

    Losers incuded Cairn Energy, which dropped another 2.8 percent to £18.61 after its Indian IPO was less than successful, with shares riding in the bottom end of the range.





    April 21, 2006

    FTSE 100, 250 gain on day and week

    Filed under: Companies, Lloyds TSB, Royal Dutch Shell, Xstrata, Kazakhmys, Antofagasta, Alliance & Leicester, Shire, GCap Media, Smith & Nephew

    In London on Friday the FTSE 100 added 0.8 percent to 6,132.7, a five-year high. The 100 was up 1.7 percent in the holiday-shortened week. The FTSE 250 was up 0.6 percent for the day and 1.8 percent on the week to close at 9,950.8.

    Miners and oil were both instrumental in the day’s gains. Copper prices on the rise again after Thursday’s declines helped Antofagasta up by 5.1 percent to £24.68, its highest-ever share price. Elsewhere in the sector, Xstrata added 4.6 percent to £20.87 and Kazakhmys gained 4.3 percent to £12.39.

    In the oil sector, Royal Dutch Shell was up 2.2 percent to end the day at £20.43.

    Bid rumors led to gains in several sectors. Among banks, Alliance & Leicester gained 0.7 percent to £11.54 on talk that French bank Crédit Agricole would offer for A&L, possibly as soon as Monday. Elsewhere in the sector, Lloyds TSB added 0.8 percent to 530½p on renewed talk of a possible bid from Citigroup.

    Gcap Media gained 8 percent to 262½p after Oriel Securities said that GCaps collection of radio stations would be an attractive acquisition.

    Homebuilder Wilson Bowden added 1.7 percent to £15.72, also on bid rumors.

    Shire Pharmaceuticals was up 2.3 percent to 878p after it was announced that the US Food and Drug Administration is still looking at a request that generic versions of Shire’s hyperactivity drug Adderall be subjected to rigorous testing.

    Medical devices manufacturer Smith & Nephew gained 3.5 percent to 518½p ahead of its quarterly earnings report, due next Thursday.





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