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IFLTue, 23rd Feb 2010 16:21
Shares have started strongly as company updates are given a warm reception. Shares in Wolseley jumped after the building supplies group said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to
Read moreFirst half losses piled up at ferrochrome producer International Ferro as a combination of lower ferrochrome prices and a stronger Rand outweighed higher volumes. Revenues fell 14% to R452m for the six months to December 2009, though this was up 77% on the previous six months. There was a loss bef
Read moreInternational Ferro Metals cranked up production in the second quarter in anticipation of higher ferrochrome prices in 2010, driven by Chinese growth. Output rose 58% to 57,942 tonnes from the first quarter due to the start-up of the second furnace in August. That, and record production in December
Read moreHigher metals prices give industrial metals stocks a lift. International Ferro Metals and Ferrexpo are among the stocks posting good gains. With shares starting the year on a strong footing overall, defensive stocks such as the tobacco giants British American and Imperial are unwanted. Top perform
Read moreShares in the FTSE 100 oil explorer Cairn Energy notched up the best gain among blue chips yesterday as it brought forward its eagerly awaited drilling campaign in offshore Greenland by a year. The best guess of RBS, Cairn's broker, is that the company will target discoveries in the region of 500 m
Read moreProperty fund manager Capital & Regional reports valuations in the UK fund businesses, particularly in retail warehouses, are trending higher in the fourth quarter. This reflects the strength of the investment market which is likely for the balance of this year to outweigh pressure on income. C&R
Read morePotential clouds on the horizon for J Sainsbury could come from Tesco pushing the pricing button and Justin King - Sainsbury's chief executive who has initiated a turnaround since 2004 - jumping ship to the same role at M&S, although he has scotched such speculation. The shares have fallen margina
Read moreAfter toiling in the red all day, Footsie made a late push into positive territory to close above the 5,000 point mark. Miners were weak spot. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile co
Read moreResource stocks are friendless today as oil and metals prices shift into reverse. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile copper prices have fallen for the fourth day in a row on over-s
Read moreMiners continue to weigh on the leading share index. ENRC and Kazakhmys are lower. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the sector. Cooper prices have fallen for the fourth day in a row. Platinum refiner Johnson
Read moreFootsie has dipped below 5,000 this morning with miners running into profit taking on talk that the recent metal price rally has run too far. Johnson Matthey, ENRC and Kazakhmys are the worst performers. Reports over the weekend suggested some commentators are concerned by the amount of speculative
Read moreFerrochrome producer International Ferrochrome slid into a second half net deficit of R341m as a slump in demand and prices prompted severe production cutbacks. The cut back in production caused sales to fall from 207,862 tonnes last year to 101,835 tonnes this year, with a consequential deteriorat
Read moreWhile a number of punters may wish to wait to see how Shire performs in the longer term, we would be encouraged that a number of analysts see the share price making substantial gains in the next year. Those at UBS, for example, say the stock will reach 1040p, while the company itself argues it is a
Read moreWell-received results from Barclays and HSBC help lift the banking sector higher. Barclays shares shot up after it posted half-year profits of £3bn, despite an 86% rise in impairment charges, as profits at its investment banking division doubled. Pre-tax profit more than halved at HSBC in the firs
Read moreMarket researcher YouGov's trading has met expectations recently despite continuing difficult trading environment experienced by the entire marketing services sector. "The company has begun to see the benefits of the increased focus on its key growth areas of business as well as the cost reduction
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