City sources predict the FTSE 100 will open up 4 points from yesterday's close of 5,741, holding on to yesterday's last minute gains which came after investors got a boost on news of better-than-expected economic data from the US, talks of progress between the Greek government and private creditors, and strong demand in Spanish and French auctions.
Media giant WPP, in its fourth acquisition of 2012, has bought a majority equity stake in Finnish communications agency Viestintätoimisto Pohjoisranta Oy for an undisclosed sum. The Helsinki-based firm has been an exclusive affiliate partner in Finland to WPP's public relations and public affairs division, Burson-Marsteller, since 2006.
Engineering and construction group Kentz Corporation has revealed that revenues and profits were "marginally" ahead of consensus expectations in 2011, while it achieved a record backlog of $2.4bn at the end of the year, a 50% increase on December 2010. Meanwhile, the firm announced that Chief Operating Officer Christian Brown will succeed Chief Executive Hugh O'Donnell at the start of February.
Tough times continued in the final fives months of 2011 at the Securities division of merchant banking group Close Brothers, but the Banking division continued to do well, with good growth in the loan book. The Asset Management division recorded a small loss in the period. Assets under management at the end of 2011 stood at £8.4bn, down from £9.6bn at the end of July.
Most companies do not get penalised for telling markets that one of their new revenues streams is on track to double, at least in volume terms. Yet that is, to a certain extent, what happened yesterday with Imagination Technologies. Then again, most companies´ shares do not trade at 34 times´ forward earnings, The Times´s Tempus chips in. [13 Mar '13]
Adjusted operating profit increased 26 per cent to 79.8m pounds in the six months to January 31st 2013 at specialist financial services group Close Brothers underpinned by strong performance within the Banking division. [12 Mar '13]
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