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London close: Fed optimism bolsters Footsie gains

Fri, 21st Aug 2009 16:31

Footsie finished with strong gains going into the weekend after US Federal Reserve chairman Ben Bernanke said prospects for a return to global growth look good.'After contracting sharply over the past year, economic activity appears to be levelling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good,' Bernanke said.Footsie had already climbed above 4,800 points for the first time since October.Insurance companies, with their huge investment portfolios, are naturally big beneficiaries of the continued market revival and they led today's advance, with Legal & General, Aviva, Prudential and Old Mutual the picks of the life assurance sector.Accounting software firm Sage was off the pace after its US rival Intuit lowered 2010 earnings guidance yesterday.Rio Tinto has received clearance from the US Federal Trade Commission on the pending sale of its Jacobs Ranch coal mine to Arch Coal. The deal is expected to close within the next six weeks. Rio announced the $761m sale of Jacobs Ranch in March.Brewer SABMiller and drinks firm Diageo are both firmer after the companies were instructed to take their dispute over East African Breweries Limited (EABL) to arbitration. The London High Court prevented EABL - 50% owned by Diageo - from terminating a partnership with SABMiller, and sent the dispute to the International Chamber of Commerce arbitration panel.Turning to the mid-cap index property website Rightmove soared after saying it remains confident of beating full-year forecasts after notching up its second highest monthly operating profit ever in July. Operating profit fell 6% in the six months ended 30 June to £18.90m and pre-tax profit by 8% to £18.19m. The results have been well received, prompting Numis Securities to upgrade the stock from 'add' to 'buy' while other brokers have indicated they will upwardly revise their earnings forecasts following the interim results.Birmingham City football club have received an offer from Grandtop, the company owned by Hong Kong businessman Carson Yeung, worth £81.5m. The offer will be made on the basis of 100p per share, which is a 55% premium to last night's closing price. Stobart's trading in the first six months of the year is in line with expectations and the transport and logistics company said it is confident for the full year. It also anticipates a strong performance in the second half as a result of recently announced contracts, new business wins and action taken to reduce costs. Electrical engineering and contracting company T Clarke has reported a drop in first-half pre-tax profits after taking a £1.4m charge in relation to its restructuring programme. Silicon wafer reclaim specialist Pure Wafer, whose shares have been suspended since March due to money troubles, is raising up to £2.3m from a placing and open offer at 2p a share.Candover Investments said it is in a much stronger position than previously due to recent asset realisations and the lowering of its cost base. Drug developer SkyePharma narrowed first-half losses and said trading in the second half of 2009 is expected to remain in line with expectations.Engineering group Kentz has been awarded a telecommunications package, worth $125m, by Chevron Australia Pty Ltd for the Gorgon Project in Western Australia.Billing Services, which provides financial risk management solutions to the telecommunications industry, saw underlying profit rise for the half-year and said it was on track to meet expectations for the full year.FTSE 100 - RisersBritish Airways (BAY) 188.20p +7.24%Legal & General Group (LGEN) 77.80p +5.56%Aviva (AV.) 410.70p +5.50%Man Group (EMG) 259.90p +5.22%Friends Provident Group (FP.) 82.20p +4.31%InterContinental Hotels Group (IHG) 775.50p +4.16%3i Group (III) 296.20p +4.00%Cairn Energy (CNE) 2,600.00p +4.00%International Power (IPR) 278.90p +3.80%Anglo American (AAL) 1,984.00p +3.60%FTSE 100 - FallersSage Group (SGE) 220.30p -2.05%Autonomy Corporation (AU.) 1,293.00p -0.92%WPP Group (WPP) 504.50p -0.59%Serco Group (SRP) 444.50p -0.31%Eurasian Natural Resources (ENRC) 851.50p -0.23%Reed Elsevier (REL) 432.40p -0.16%Hammerson (HMSO) 390.90p +0.03%Vodafone Group (VOD) 131.50p +0.08%Balfour Beatty (BBY) 342.20p +0.23%British Land Co (BLND) 469.90p +0.23%FTSE 250 - RisersRightmove (RMV) 508.50p +18.70%Millennium & Copthorne Hotels (MLC) 345.20p +9.76%SThree (STHR) 250.50p +8.96%DS Smith (SMDS) 92.50p +8.82%Moneysupermarket.com (MONY) 80.00p +8.11%BlueBay Asset Management (BBAY) 280.60p +7.92%Daily Mail and General Trust (DMGT) 366.50p +5.26%Xchanging (XCH) 226.90p +5.05%888 Holdings (888) 84.00p +5.00%United Business Media (UBM) 458.90p +4.94%FTSE 250 - FallersPV Crystalox Solar (PVCS) 82.00p -3.81%Goldman Sachs Dynamic Opportunities EUR Shares (GSDE) € 1.05 -3.67%Inchcape (INCH) 29.00p -2.82%Yell Group (YELL) 38.26p -1.80%Dunelm (DNLM) 286.40p -1.58%Ferrexpo (FXPO) 164.40p -1.56%Barratt Developments (BDEV) 237.30p -1.49%RPS Group (RPS) 184.50p -1.39%Restaurant Group (RTN) 174.70p -1.30%Fidessa (FDSA) 1,098.00p -1.26%
More News
30 Mar 2015 10:56

Billing Services Profit Up But Revenue Hit By Landline Call Declines

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30 Sep 2014 09:33

Billing Services Group Makes Scheduled Debt Repayment

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17 Sep 2014 10:01

Billing Services Group Makes Profit But Downgrades Revenue Guidance

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30 Jun 2014 11:28

Billing Services Group Makes Further Debt Repayment

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31 Mar 2014 11:06

Billing Services Makes USD2.4 Million Senior Debt Payment

LONDON (Alliance News) - Billing Services Group Ltd Monday said it has made a USD2.4 million scheduled repayment of its senior debt. The payment was made Friday. Billing Services said its outstanding senior debt was USD13.5 million at the close of business, Friday. Billing Servi

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28 Mar 2014 13:30

Billing Services Reviewing Report Recommending Part Order Of Contempt

LONDON (Alliance News) - Billing Services Group LTD said Friday that it was review a report from Magistrate Judge Henry Bemporad in which he recommends granting, in part, the Federal Trade Commission's request for an order of contempt against Billing Services. The FTC is seeking a civil con

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25 Mar 2014 13:34

UK MIDDAY BRIEFING: RSA Insurance Launches Rights Issue

LONDON (Alliance News) - RSA Insurance Group Tuesday launched a GBP773 million fully-underwritten, discounted rights issue in order to shore up its balance sheet, as Chief Executive Stephen Hester's recovery plan for the troubled FTSE 100 insurer begins to take shape.
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25 Mar 2014 12:16

UK WINNERS & LOSERS: 888 Holdings Wins Big With Casino And Poker

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

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FTSE 100 - WINNERS

Kingfisher, up 6.6%. The home improvement retailer has reported an incre

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25 Mar 2014 09:42

Billing Services Expects Lower Revenue, Earnings In 2014

LONDON (Alliance News) - Billing Services Group Ltd Tuesday reported a narrower annual pretax loss but warned that it expects both its revenue and its earnings before interest, tax, depreciation and amortisation to fall again in 2014 Billing Services shares fell 20% in response early Tuesda

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2 Jan 2014 09:44

Billing Services Makes USD2.4 Million Debt Repayment

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11 Sep 2013 14:47

Billing Services slashes debt but warns on full year sales

Telecoms billing facilitator Billing Services Group saw revenues dwindle in the first half and warned full year figures would fall below expectations. The company produced a net loss up from $8.2m to $9.3m as revenues fell 30% to $27m in the half to June. Earnings before interest, tax, depreciatio

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11 Sep 2013 10:44

Billing Services Group Losses Increase In Line With Expectations

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1 Sep 2011 09:50

Billing Services reduces debt again

Shares of Billing Services Group, a payment and financial risk management provider, rose 9% after it repaid $2m of its senior debt yesterday. The group, which provides solutions to the telecommunications industry, said at the close of business on 31 August 2011, total outstanding senior debt has b

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1 Jul 2011 11:50

Billing Services Group further reduces debt

Shares of payment and financial risk management provider Billing Services Group soared 20% following its announcement that it had repaid $4.4m of its senior debt and entered into a new credit facility with reduced pricing. Billing services, which provides services primarily to the telecommunicatio

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24 Feb 2011 18:34

Mellon requisitions Billing Services meeting

Jim Mellon and Isle of Man-based Manx Financial have requisitioned a general meeting at AIM-quoted Billing Services Group (BSG) in order to change the make-up of the board. AIM-quoted Manx and Jim Mellon, who own 24.54% of BSG between them, want to remove Patrick Heneghan, Thomas Richter and Admir

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