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London midday: Trichet comments heap more gloom

Thu, 23rd Jun 2011 12:19

Gloomy comments from European Central Bank (ECB) President Jean-Claude Trichet have sent stocks further into the red.Trichet warned that the Greek debt crisis threatens to infect banks. Recycled packaging firm DS Smith is in demand after it overcame a sharp rise in input costs to grow pre-tax profits by 86% last year. Profit before tax in the year to 30 April rose to £102.2m from £55.0m the year before, on sales that rose 19.5% to £2,474.5m from £2,070.6m. With the effects of the recent acquisition of Otor stripped out, sales rose 10.0% year-on-year.Train and bus operator Go-Ahead has moved into reverse, despite a strong start after saying it expects to post a full-year profit ahead of expectations as high petrol prices and tough economic conditions prompt drivers to abandon their cars in favour of public transport.Currys and PC World owner Dixons is down after it saw underlying profit before tax dip to £85.3m in the year to end-April from £90.0m the year before. The group said it is increasing market share across most of its markets and sectors, especially in the UK and the Nordic countries.Military decoy flare and mine detection firm Chemring is under heavy attack even after it managed to post a sharp rise in sales and profits in the half-year to 30 April despite constraints on military spending in Britain and the US. Revenues climbed by 29% from the previous year to £329.8m, while underlying pre-tax profits were up by 17% at £49.6m. Software group Micro Focus is in the red after the company's underlying earnings coming in below the guidance range issued at the time of the company's February profits warning. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $158.7m in the year to 30 April, down 8.4% from the $173.3m achieved the year before. The group had indicated in February that underlying earnings would be in a range running from $159m to $167m.FTSE 100 - RisersBritish Sky Broadcasting Group (BSY) 838.00p +0.90%ITV (ITV) 67.15p +0.83%Associated British Foods (ABF) 1,081.00p +0.75%Capita Group (CPI) 728.50p +0.55%Shire Plc (SHP) 1,853.00p +0.32%Sainsbury (J) (SBRY) 326.40p +0.15%Imperial Tobacco Group (IMT) 2,033.00p +0.15%Marks & Spencer Group (MKS) 366.70p +0.05%Aviva (AV.) 428.90p -0.07%National Grid (NG.) 591.50p -0.08%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 37.36p -3.34%Vedanta Resources (VED) 1,906.00p -3.10%Eurasian Natural Resources Corp. (ENRC) 710.00p -3.07%Antofagasta (ANTO) 1,242.00p -3.04%Glencore International (GLEN) 475.10p -3.04%Lloyds Banking Group (LLOY) 45.62p -2.93%Essar Energy (ESSR) 400.30p -2.77%International Consolidated Airlines Group SA (IAG) 237.00p -2.27%Anglo American (AAL) 2,851.00p -2.20%Xstrata (XTA) 1,261.50p -2.17%FTSE 250 - RisersDS Smith (SMDS) 238.40p +11.61%Bwin.party Digital Entertainment (BPTY) 132.00p +3.94%Telecom Plus (TEP) 645.00p +3.37%Premier Foods (PFD) 26.06p +2.20%Dixons Retail (DXNS) 16.81p +1.69%Henderson Group (HGG) 147.50p +1.65%Misys (MSY) 416.80p +1.56%Berendsen (BRSN) 492.10p +1.46%FirstGroup (FGP) 332.40p +1.28%Aberdeen Asset Management (ADN) 215.20p +1.03%FTSE 250 - FallersMicro Focus International Plc (MCRO) 324.30p -8.39%Ocado Group (OCDO) 180.00p -7.79%Imagination Technologies Group (IMG) 384.70p -7.19%Chemring Group (CHG) 596.00p -6.44%Afren (AFR) 153.30p -3.46%Exillon Energy (EXI) 402.00p -3.37%Big Yellow Group (BYG) 302.80p -2.79%Halma (HLMA) 389.20p -2.68%Renishaw (RSW) 1,661.00p -2.64%ITE Group (ITE) 209.10p -2.56%
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Canaccord Genuity slashes target price on Go-Ahead Group

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24 Sep 2020 09:52

Go-Ahead Skips Dividend Payout Amid Swing To Annual Loss

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24 Sep 2020 09:02

Go-Ahead profit slightly better than guidance

(Sharecast News) - Go-Ahead predicted profit at its London and international bus division would be little changed as the transport operator reported group profit slightly better than its expectations.

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24 Sep 2020 07:47

UPDATE 1-Go-Ahead warns of uncertainty on second-wave fears

(Recasts, adds detail)LONDON, Sept 24 (Reuters) - UK transport operator Go-Ahead said that it was now running more than 90% of its bus and rail services across the country but the pandemic was causing uncertainty over its outlook.For the 12-months...

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24 Sep 2020 07:18

Go-Ahead posts profit slightly ahead of guidance

LONDON, Sept 24 (Reuters) - UK transport operator Go-Ahead posted profits for the 12-months to 27 June slightly ahead of its guidance, and said that after the pandemic it was starting to run 90% of its services again.Go-Ahead posted annual operati...

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UPDATE: UK Rail Franchising "Ended" With Revised Emergency Measures

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21 Sep 2020 07:41

UPDATE 1-Britain extends emergency funding for railways ahead of contract shake-up

(Recasts, adds detail, background)LONDON, Sept 21 (Reuters) - Britain extended emergency pandemic funding to keep its rail network moving, providing private train companies with less lucrative temporary contracts ahead of a shake-up of the way the...

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21 Sep 2020 07:41

UPDATE 2-Britain extends COVID funding for railways ahead of contract shake-up

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21 Sep 2020 07:41

Go-Ahead and FirstGroup get extensions to Covid rail bail-outs

(Sharecast News) - The Department for Transport confirmed extensions to the emergency measures on a number of rail franchises on Monday, protecting operators from continued depressed passenger demand as a result of the Covid-19 pandemic.

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21 Sep 2020 07:16

UK train companies sign new contracts with government

LONDON, Sept 21 (Reuters) - UK train companies Go-Ahead and FirstGroup said they had signed new contracts with the government to keep running rail services for the next 6-18 months, after earlier emergency pandemic measures came to an end.Under t...

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