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London open: FTSE falls, Smiths and Tullow drag, elections in focus

Fri, 23rd May 2014 08:55

- Smiths and Tullow disappoint- FTSE opens 16 points lower- Ukraine, European elections in focustechMARK 2,741.75 -0.09%FTSE 100 6,801.45 -0.28%FTSE 250 15,657.08 -0.11%The FTSE opened lower this morning, falling around 16 points in the first hour of trade, weighed by disappointing announcements from Smiths Group and Tullow Oil.Investors are also easing back ahead of the Bank Holiday weekend, the presidential elections in Ukraine and the elections for the European Parliament. David White at SpreadEx said: "Asian stocks once again traded higher overnight, with the Nikkei up almost 1% as the China Shenzhen inflated 0.4%. Precious metals and energies are largely unchanged, as Brent crude oil holds the $110 level. "Here in London the FTSE 100 has opened largely unchanged, down by just a few points. The same can be said for other European indices. Closing out a positive week for large-cap stock indices will help establish a somewhat positive tone against the typical 'sell in May' mantra, though it is early yet. Later today investors will turn to how risk appetite fairs into the weekend, using the US open and the performance of Treasuries as a gauge."Giving a morning technical view, Mike van Dulken, Head of Research at Accendo Markets, commented to its clients this morning: "The 6820 breakout on the one-week chart failed at 6850, which has seen a retrace back to round number 6800. This could lead to a revisit of the lows of 6765 before we make another move higher. "The one-month and three-month charts hint at this with their falling highs and channels. Support available via the intersecting trendline from end-Feb which would help keeping us in the upper end of the recent range and the uptrend alive. The longer term chart shows potentially further to fall for a true consolidation. Long weekends in the US and UK may be taken as an excuse for some risk to be taken off the table."LSE jumps after broker upgrade In company news, London Stock Exchange raced ahead after Goldman Sachs upgraded it from 'sell' to 'neutral'. Standard Life rose on the news it has appointed a new Chief Financial Officer. Luke Savage, who will take up the position from August 18th, is described as a "leading industry executive with extensive experience of insurance and investment services". A joint venture of bus and train operator Go-Ahead and a company part-owned by French state railway SNCF has won the battle to run the new Thameslink rail super-franchise in London and south-east England, sending shares in the FTSE 250-listed group soaring. Govia, which currently runs the Southern, Southeastern and London Midland franchises, has secured the deal to run the enlarged Thameslink, Southern and Great Northern (TSGN) franchise. However, First Group slumped after missing out. BTG soared on the news it has been granted clearance for its EkoSonic Endovascular System treatment of pulmonary embolism (PE) by the US Food and Drug Administration (FDA). The minimally invasive treatment carries out the ultrasound-facilitated, controlled and selective infusion of physician-specified fluids, including thrombolytics, for the treatment of PE. Meanwhile, x-ray scanner and medical equipment maker Smiths Group fell to the bottom of the pile after it unveiled weaker revenue as tough trading in its detection and medical businesses spoilt a good performance at its John Crane energy services operation. Smiths said underlying revenue in the nine months to May 3rd would be slightly lower than in the same period a year ago due to issues in detection, which makes security scanners for airports, and medical, which makes surgical devices.Tullow Oil shares also dropped after it said the Shimela-1 well, onshore Ethiopia, has encountered water bearing reservoirs and that only traces of thermogenic gas shows were recorded after drilling to a final depth of 1,940 metres. FTSE 100 - RisersSports Direct International (SPD) 780.00p +1.43%London Stock Exchange Group (LSE) 1,829.00p +1.11%Rexam (REX) 531.50p +0.85%WPP (WPP) 1,272.00p +0.55%SSE (SSE) 1,548.00p +0.39%Mondi (MNDI) 1,056.00p +0.38%Sainsbury (J) (SBRY) 343.80p +0.38%Randgold Resources Ltd. (RRS) 4,525.00p +0.33%GKN (GKN) 385.20p +0.31%Standard Life (SL.) 394.30p +0.31%FTSE 100 - FallersSmiths Group (SMIN) 1,273.00p -3.19%Smith & Nephew (SN.) 941.50p -1.52%Tullow Oil (TLW) 839.50p -1.41%Morrison (Wm) Supermarkets (MRW) 202.80p -1.02%Whitbread (WTB) 4,109.00p -0.96%SABMiller (SAB) 3,340.00p -0.95%Compass Group (CPG) 993.50p -0.85%Next (NXT) 6,605.00p -0.83%Persimmon (PSN) 1,329.00p -0.82%Rio Tinto (RIO) 3,204.00p -0.81%FTSE 250 - RisersGo-Ahead Group (GOG) 2,109.00p +8.77%BTG (BTG) 570.00p +4.20%COLT Group SA (COLT) 140.50p +2.55%Dechra Pharmaceuticals (DPH) 714.50p +2.36%Crest Nicholson Holdings (CRST) 346.60p +1.64%Partnership Assurance Group (PA.) 126.76p +1.41%Fidessa Group (FDSA) 2,226.00p +1.37%Paragon Group Of Companies (PAG) 386.60p +1.18%Dairy Crest Group (DCG) 432.90p +1.17%Perform Group (PER) 268.00p +1.13%FTSE 250 - FallersFirstGroup (FGP) 130.00p -3.56%Halfords Group (HFD) 474.80p -2.70%Infinis Energy (INFI) 200.00p -1.96%Computacenter (CCC) 608.50p -1.70%Genus (GNS) 1,061.00p -1.67%Investec (INVP) 502.00p -1.67%Home Retail Group (HOME) 189.10p -1.66%Electrocomponents (ECM) 276.20p -1.57%Imagination Technologies Group (IMG) 217.30p -1.54%Carphone Warehouse Group (CPW) 303.00p -1.40%NR
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LONDON BRIEFING: Deliveroo loss widens but pedalling toward breakeven

(Alliance News) - Food delivery firm Deliveroo on Thursday said 2021 was a year of strong growth and strategic progress, which it believes will lead to long-term profitability.

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9 Mar 2022 11:41

IN BRIEF: Go-Ahead hires Royal Mail UK interim CFO as finance chief

Go-Ahead Group PLC - Newcastle, England-based public transport operator - Hires Sarah Mussenden to be chief financial officer, starting May 9. Mussenden currently is interim CFO at Royal Mail UK, part of Royal Mail PLC. Previous roles were at British Gas, part of Centrica PLC, and British Airways, part of International Consolidated Airlines Group SA. She currently is a non-executive director of asset manager Premier Miton Group PLC. At Go-Ahead, Mussenden will replace Interim CFO Gordon Boyd.

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24 Feb 2022 16:35

Go-Ahead expects to pay GBP30 million penalty amid "challenging" year

(Alliance News) - Go-Ahead Group PLC said on Thursday that it had narrowed its pretax loss but noted issues with the UK Department for Transport regarding its London & South Eastern Railway operations.

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24 Feb 2022 10:11

Go-Ahead records 'strong' performance in long-delayed results

(Sharecast News) - Go-Ahead Group reported a "strong" financial performance in its bus and Govia Thameslink Railway (GTR) operations in its much-delayed full-year results on Thursday, offset by challenges in its international rail division and its former Southeastern rail franchise.

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24 Feb 2022 08:15

LONDON BRIEFING: Warren East to depart as CEO of improving Rolls-Royce

(Alliance News) - Rolls-Royce on Thursday said Chief Executive Officer Warren East has decided to step down at the end of 2022, after nine years on the board and almost eight years as CEO.

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23 Feb 2022 09:51

IN BRIEF: Go-Ahead to release delayed annual results on Thursday

Go-Ahead Group PLC - Newcastle-based bus and train operator - Plans on Thursday to release its delayed results for the financial year that ended July 3 last year. At that point, Go-Ahead will ask for the suspension of trading of its shares and corporate bonds to be lifted. The suspension was imposed because the company missed the deadline for filing its accounts. The delay was to allow auditors Deloitte to consider the implications of a review of the London & South Eastern Railway franchise, operated by Go-Ahead. The UK government found that "serious errors" were made by LSER in its dealings with the Department for Transport over several years. Go-Ahead apologised for "failing to notify the DfT of certain overpayments or monies due to the DfT", but the government is considering enforcement action, including a financial penalty.

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31 Jan 2022 15:28

Moody's withdraws British rail firm Go-Ahead's rating

LONDON, Jan 31 (Reuters) - Moody's has withdrawn its credit rating of UK rail and transport firm Go-Ahead after the company delayed the publication of its financial results for a fourth time, the ratings agency said on Monday. "Moody's has decide...

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24 Jan 2022 10:02

IN BRIEF: Go-Ahead expects annual results release end February

IN BRIEF: Go-Ahead expects annual results release end February

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24 Jan 2022 09:00

Go-Ahead results delayed again as auditors ask for more time

(Sharecast News) - Crisis-hit transport group Go-Ahead on Monday delayed publication of its financial results for a third time as investigations continue into its rail franchise scandal.

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19 Jan 2022 15:18

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

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4 Jan 2022 14:02

Go-Ahead shares suspended due to late-running results

(Sharecast News) - Go-Ahead Group made a request for its shares and bond to be temporarily suspended from trading on Tuesday, pending its results for the year ended 3 July.

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4 Jan 2022 10:34

IN BRIEF: Go-Ahead suspends listing on annual results delay

IN BRIEF: Go-Ahead suspends listing on annual results delay

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21 Dec 2021 21:40

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

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20 Dec 2021 16:21

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

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15 Dec 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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