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London Close: Footsie enjoys pre-Christmas surge

Fri, 23rd Dec 2011 12:45

Footsie has battled its way above 5500, and there are just a handful of the top-share index's constituents that are not participating in the advance, including banking titans Lloyds, Standard Chartered, HSBC and Royal Bank of Scotland.Hopes that the US recovery is gathering pace and that it might, perhaps, drag Europe along with it in its slipstream has put a smile on the face of investors. A slight black spot, however, has been the monthly bank lending figures which have revealed a weakening in both mortgage lending and lending to businesses. The figures from the BBA also showed unsecured borrowing, like credit cards and overdrafts also fell in November.As well, the Office for National Statistics (ONS) reported that service sector output contracted at a 0.7% on month rate of change in October.All of the above indicators contributed to a fall in 10 year gilt yields to below 2% for the first time. M&A activityAmong the FTSE 250 members, property group London and Stamford is on the up after it said it has sold 17 warehouses for £265m, a figure which exceeds the valuation figure for the portfolio as at 30 September 2011. Incontrast, Perform, the digital media firm specialising in sports content, if off the pace after it said it has acquired two related German businesses: Spox Media and mediasports Digital. The two businesses are being acquired for an initial cash consideration of €3.65m, with a maximum deferred cash consideration of €12.35m payable. More FTSE 250 actionAmlin, the insurance company, has increased its coverage against hurricanes and earthquakes in the US and wind-storm peril in Europe through a $150m bond. The deal has seen Bermudian company Tramline Re take on the re-insurance contract then package it up into "principle-at-risk" three-year variable rate notes or bonds. The proceeds from these notes will make up the collateral for Tramline Re's obligations to Amlin.Out in the UK section of the North Sea, there has been good news for Antrim Energy and Premier Oil. Antrim Energy, the Canadian oil company, says it has drilled a successful sidetrack well to assess the Erne discovery, an asset it jointly owns with Premier Oil. Antrim says the work on Erne has "de-risked" other drilling in the region.Blacks getting ready to fold up its tentsThe situation is looking very bleak for Blacks Leisure, the outdoor clothing retailer which looks to be in a death spiral. The company has given up looking for a saviour, and seems resigned to selling off bits of the company piecemeal. Blacks says it is no longer in an offer period - i.e. no one is interested in buying the company - but it continues to hold discussions with a number of selected parties with a view to concluding the sale of trade, assets and brands of the company in January 2012.It warns, however, that "it is most unlikely that any value will be attributable to the ordinary shares."Another tiddler getting hammered is drugs developer SkyePharma, after its Flutiform asthma treatment ran into further regulatory delays. FTSE 100 - RisersTullow Oil (TLW) 1,378.00p +2.53%Reed Elsevier (REL) 515.50p +2.38%CRH (CRH) 1,255.00p +2.37%SABMiller (SAB) 2,237.50p +2.19%Pearson (PSON) 1,217.00p +2.18%National Grid (NG.) 616.00p +2.16%BP (BP.) 460.00p +2.15%Severn Trent (SVT) 1,482.00p +1.93%Antofagasta (ANTO) 1,222.00p +1.92%Polymetal International (POLY) 1,130.00p +1.89%FTSE 100 - FallersLloyds Banking Group (LLOY) 25.61p -0.91%Standard Chartered (STAN) 1,379.00p -0.72%Intertek Group (ITRK) 1,936.00p -0.26%Eurasian Natural Resources Corp. (ENRC) 628.00p -0.24%HSBC Holdings (HSBA) 487.90p -0.13%Serco Group (SRP) 469.40p -0.11%FTSE 250 - RisersRegus (RGU) 84.55p +5.69%Kenmare Resources (KMR) 45.05p +5.50%Supergroup (SGP) 526.00p +4.78%Homeserve (HSV) 295.20p +4.02%DS Smith (SMDS) 193.50p +3.31%Misys (MSY) 234.40p +3.21%London & Stamford Property Ltd. (LSP) 108.10p +3.05%Caledonia Investments (CLDN) 1,375.00p +2.77%Soco International (SIA) 295.80p +2.67%Centamin Egypt Ltd. (CEY) 85.20p +2.53%FTSE 250 - FallersCarpetright (CPR) 480.00p -5.51%Ocado Group (OCDO) 56.10p -4.92%Perform Group (PER) 205.30p -2.24%Kier Group (KIE) 1,328.00p -2.06%Rathbone Brothers (RAT) 1,000.00p -1.96%Brown (N.) Group (BWNG) 227.50p -1.81%Rank Group (RNK) 125.10p -1.26%Renishaw (RSW) 922.00p -1.23%Interserve (IRV) 315.00p -1.19%Provident Financial (PFG) 924.50p -1.18%--jh
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29 Jul 2014 15:35

Antrim Energy finds potentially big oilfield off Irish coast

Shares in Canadian oil & gas explorer Antrim Energy more than doubled after it said it had found a potentially large oilfield off the coast of the Irish Republic. The stock rose 4.6p or 142.3% to 7.9p at 14:46 in London after Antrim said a prospective resources report on its Frontier Exploration Li

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29 Jul 2014 11:40

UK MIDDAY BRIEFING: Next Remains Stand-Out UK Retailer

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29 Jul 2014 11:09

UK WINNERS & LOSERS: Next Jumps After Further Profit Upgrade

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29 Jul 2014 10:53

Antrim Energy's FEL 1/13 Has Potential 1.1 Billion Barrels Of Oil Equivalent

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7 Apr 2014 11:40

UK MIDDAY BRIEFING: GlaxoSmithKline Investigates Iraq Allegations

LONDON (Alliance News) - Pharmaceuticals giant GlaxoSmithKline has confirmed that is investigating allegations of improper conduct in its Iraq business.

The Wall Street Journal had cited a person familiar with the matter saying that Glaxo was violating US and UK ant

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7 Apr 2014 10:41

UK WINNERS & LOSERS: Tech Stocks Among Biggest FTSE Losers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

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FTSE 100 - WINNERS

CRH, up 0.7%. The building materials group is receiving a boost from some merger and acqui

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7 Apr 2014 10:26

Antrim Energy Jumps As Shareholders Agree To Sale Of Subsidiary

LONDON (Alliance News) - Antrim Energy Inc Monday said its special resolution to approve the sale of its Causeway, Kerloch, and Cormorant East assets in the North Sea was passed at its recent shareholders meeting, helping to offset some of its financial difficulties. The oil and gas explora

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28 Mar 2014 10:36

Antrim Energy Pretax Losses Narrow, Doubts Remain Over Company's Future

LONDON (Alliance News) - Antrim Energy Inc Friday said its pretax losses narrowed significantly in its full-year 2013 but that there remain significant doubts over the future of the company. The oil and gas exploration company, which is yet to produce any revenues, said its pretax loss narr

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10 Feb 2014 16:43

STOCKS NEWS EUROPE-UK's AIM index outpaces blue-chips

The junior-listed FTSE AIM All Share Index closes up 0.4 percent to outperform a 0.3 percent gain on the blue-chip FTSE 100 index. The FTSE Small Cap Index rises 0.2 percent, while the FTSE 250 mid-cap index advances by 0.3 percent. Sterling Energy closes up 2.5 percent after it says

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10 Feb 2014 13:17

UK MIDDAY BRIEFING: Barclays Up Despite Confirming Profit Fall

LONDON (Alliance News) - Barclays shares are higher Monday despite the bank confirming that its 2013 pretax profit excluding provisions will drop by over GBP2 billion and as it launched a probe into allegations that details of tens of thousands of its account holders have been

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10 Feb 2014 11:40

UK WINNERS & LOSERS: Centrica, SSE Fall After UK Energy Secretary Letter

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday. ------- FTSE 100 - WINNERS Barclays, up 1.9%. The bank is amongst the leading blue-chip gainers despite saying that it will report a GBP5.2 billion adju

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10 Feb 2014 10:16

Antrim Energy Enters Deal To Sell UK Subsidiary

LONDON (Alliance News) - Antrim Energy Inc said after the market close on Friday that it has entered into an agreement for First Oil Expro Ltd to buy its UK subsidiary, Antrim Resources Ltd for USD53 million in cash. The oil and gas exploration company stated that the deal also includes the

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10 Feb 2014 09:35

Antrim Energy sells UK subsidiary to raise cash

North Sea and Ireland oil explorer Antrim Energy is offloading its UK arm for 53m dollars to fund higher-than-expected project costs, boosting its shares. Antrim, which has two producing North Sea fields, has agreed to sell Antrim Resources to First Oil Expro, although it will keep its interests in

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15 Nov 2013 17:13

STOCKS NEWS EUROPE-UK small caps advance, AGA strong gainer

The FTSE Small Cap index edges up 0.1 percent, while the FTSE AIM index slips 0.1 percent, lagging a 0.4 percent rise on the FTSE 100 . Shares in AGA Rangemaster rise 6.7 percent as the kitchen furniture maker says its cooker orders are up by more than 15 percent so far this year. Vol

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15 Nov 2013 12:37

UK WINNERS & LOSERS: IAG Dives Despite Raising Profit Guidance

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