The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksALBK.L Share News (ALBK)

  • There is currently no data for ALBK

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

London midday: Shares buoyant as updates impress

Thu, 18th Nov 2010 12:05

With some kind of resolution to the Irish crisis in sight and many of today's updates impressing the market, shares have moved sharply higher.The Bank of Ireland chief has confirmed a loan is likely with brokers suggesting it could be as much as €85bn, including €20bn to provide support for the country's beleaguered banks, Bank of Ireland, Allied Irish and Anglo Irish.In company news, SABMiller is fizzing after a strong performance in all regions but Europe helped the brewing giant post a rise in profits in the half year to September 30. Pre-tax profits at the brewer of famous brands such as Miller and Peroni climbed to $1.69bn (£1.06bn) from $1.5bn over the same period the previous year as revenues rose to $9.43bn from $8.84bn. Business process outsourcing colossus Capita is taking a beating after it warned revenue growth in the second half of 2010 has been subdued due to the pressures on public spending.Anglo-Dutch publishing giant Reed Elsevier is trading much the same as it did in the first half, with subscription revenues constrained, and advertising, promotion and other cyclical markets continuing to stabilise.Engineering and project management company AMEC has won a double-headed contract from ConocoPhillips for oilfield services in the North Sea.Quality and safety services provider Intertek has run into profit taking after a decent update with market conditions strengthening across many parts of its business in the second half. In the first ten months of 2010 all divisions grew revenues, with the group as a whole achieving year on year organic revenue growth of 6.5%. In the FTSE 250, QinetiQ is on the attack after a sharp rise in half-yearly revenues at the defence technology group.London Stock Exchange grew profits by 26% in the first half, helped by cost cutting and a sharp increase in the number of new issues. Profit before tax for the six months ended 30 September jumped to £100.2m from £79.4m a year earlier. Halfords pedals forward after the bike and car part retailer's results. The company reported a healthy rise in sales and profits in the 26 weeks to 1 October, but trading remains tough, with like-for-like sales under pressure.Car hire firm Avis said current trading has continued to improve and expectations for the remainder of the year are unchanged. Overall rental income for the 4 months to end of October was up 4.5% from the previous year, having been 1.1% ahead for the six months to 30th June, the group said. Ground preparation engineer Keller is in a hole after cautioning full year results will be around the bottom end of market expectations as intense competition continues to bite. "Conditions in the group's mature markets continue to be difficult and the overall picture remains challenging," Keller said in a company statement.FTSE 100 - RisersSABMiller (SAB) 2,147.00p +4.63%British Airways (BAY) 272.20p +4.13%Cairn Energy (CNE) 378.30p +3.36%Fresnillo (FRES) 1,389.00p +3.19%ARM Holdings (ARM) 371.60p +3.05%Kingfisher (KGF) 246.70p +2.92%Rio Tinto (RIO) 4,265.50p +2.85%InterContinental Hotels Group (IHG) 1,131.00p +2.63%Diageo (DGE) 1,195.00p +2.58%Lloyds Banking Group (LLOY) 68.02p +2.44%FTSE 100 - FallersCapita Group (CPI) 682.50p -5.47%Intertek Group (ITRK) 1,862.00p -4.51%Reed Elsevier (REL) 526.00p -1.87%National Grid (NG.) 577.00p -1.28%Man Group (EMG) 276.80p -1.25%BT Group (BT.A) 164.30p -0.48%Centrica (CNA) 330.90p -0.39%Serco Group (SRP) 558.00p -0.36%Smith & Nephew (SN.) 586.00p -0.26%United Utilities Group (UU.) 621.50p -0.24%FTSE 250 - RisersQinetiQ Group (QQ.) 109.80p +10.91%Halfords Group (HFD) 435.80p +5.91%Imagination Technologies Group (IMG) 318.90p +5.07%Regus (RGU) 81.00p +5.06%Melrose (MRO) 287.70p +4.66%PartyGaming (PRTY) 229.10p +4.14%Laird (LRD) 137.60p +3.93%Hansen Transmissions International NV (DI) (HSN) 53.40p +3.89%Talvivaara Mining Company (TALV) 549.00p +3.78%Redrow (RDW) 103.20p +3.72%FTSE 250 - FallersKeller Group (KLR) 547.50p -7.98%Melrose Resources (MRS) 241.50p -4.32%Babcock International Group (BAB) 533.50p -3.87%Micro Focus International Plc (MCRO) 322.90p -2.45%Mitie Group (MTO) 199.30p -2.21%Gartmore Group Ltd. (GRT) 113.00p -2.16%Heritage Oil (HOIL) 368.00p -2.08%Amlin (AML) 383.90p -1.94%TR Property Inv Trust Sigma Shares (TRYS) 73.00p -1.75%Hiscox Ltd. (HSX) 357.00p -1.68%
More News
30 Nov 2009 12:09

London midday: Share prices steady down

UK share prices are stabilising at lower levels after hopes of a continued rebound from the Dubai-inspired shake-out on Thursday were quashed by disappointing UK consumer confidence figures. Figures from market research firm Gfk NOP showed consumer sentiment fell to -17 from -13 in October. Middle

Read more
30 Nov 2009 08:36

London open: Footsie wobbles on Dubai slump

News of heavy selling in the Middle East, which began trading for the first time today following the four-day Muslim holiday of Eid, had markets in retreat Monday. Futures prices had indicated an early 30-point gain for London after Asian markets rallied on expectations the potential fallout from t

Read more
30 Nov 2009 07:02

Allied Irish confirms NAMA participation

Irish banking group Allied Irish Banks has confirmed its participation in the Irish government’s asset acquisition programme. Participation in the National Asset Management Agency (NAMA) programme will be voted on at an extraordinary general meeting (EGM) on 23 December. NAMA has yet to specify wh

Read more
30 Nov 2009 06:56

London pre-open: Rally to continue

The recovery from Thursday's Dubai drubbing looks set to continue, with dealers predicting the FTSE 100 will open around 30 points higher. Pre-tax profits were ahead of expectations in the year to September 30 at travel operator Thomas Cook, as the increased ticket prices to cope with falling custo

Read more
18 Nov 2009 07:46

Allied Irish may breach NAMA estimate

Allied Irish Banks' bad debt situation has deteriorated further with the bank now suggesting the impairment write-down on its loans being shunted into the Irish toxic asset insurance scheme (NAMA) may top the government's original estimate of 30%. Previously Allied Irish had said that the 30% figur

Read more
20 Oct 2009 12:32

Broker tips: Xstrata, Autonomy, Irish banks

The third quarter production update from Swiss miner Xstrata contained ‘some solid numbers’ but FinnCap thinks investors will be better off switching to one-time Xstrata merger target Anglo American. FinnCap reckons that Anglo American has a higher quality asset portfolio and should be able to outp

Read more
20 Oct 2009 11:01

Broker snap: Nomura warms to Irish banks

Nomura Securities is prepared to take a chance on the battered Irish banking sector on the assumption that the government’s proposals for its bail-out vehicle, the National Asset Management Agency (NAMA), do not undergo significant changes before implementation. The Japanese broker has upgraded Ban

Read more
18 Sep 2009 06:17

Friday newspaper round-up: Lloyds Banking, BSkyB, African Minerals

Lloyds Banking Group has been forced to abandon its plan to withdraw from the Government's toxic debt insurance scheme after failing to raise enough capital to meet the Financial Services Authority's strict requirements. The decision dashes the hopes of Eric Daniels, chief executive, who wanted a w

Read more
14 Aug 2009 16:17

Allied Irish confirms approach

Allied Irish Bank confirmed it has received interest from a third party to take a minority stake in the Irish bank. The group made the comments after the Irish Times reported that Allied Irish had received an approach from a major bank in Canada. "However any discussions with regard to this matte

Read more
5 Aug 2009 09:58

Allied Irish Bank swings into losses

Allied Irish Bank swung into pre-tax losses for the year and said it expects the operating environment to remain "extremely difficult" in 2009. Pre-tax losses came in at €872m from €1.27bn profit last year as net interest decreased 4% to €1.69m due to lower loans. But with other income of €1bn, wh

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.