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London pre-open: Footsie to edge up

Tue, 02nd Mar 2010 07:37

Footsie is expected to edge higher in early dealings following a strong showing from Wall Street yesterday.Persimmon completed 8,976 house sales last year and the housebuilder has seen a 7% increase in sales and steady prices since the start of this year. The number of legal completions was down 12% on the 10,202 achieved in 2008, but in line with the figure flagged in an update in January. The average selling price dropped to £160,513 from £172,994.Irish bookmaker Paddy Power's results last year reflected how well the punters did with profits lower despite revenues rising slightly. The bookie says things are more even this year, despite the bad weather hitting the number of events.Strong demand for the latest home entertainment products despite the economic downturn helped set-top box supplier Pace post a sharp rise in profits in the year to December 31. Pre-tax profits climbed to £69.9m from £13.1m the previous year on revenues that rose to £1.13bn from £745.5m.Motor insurer Admiral reported record profits and sales in 2009, but cautioned conditions will remain challenging for its price comparison site Confused in 2010 as competition increases. Profit before tax at £215.8m was 7% ahead of 2008, while turnover rose 18% to £1.08bn.
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11 Apr 2014 09:42

JPMorgan lowers targets for gambling stocks on regulatory risks

It's hard to see any positive catalysts in the European gambling sector, according to JPMorgan Cazenove, which retained its cautious stance on stocks in light of regulatory risks. JPMorgan lowered its price targets for the majority of gambling stocks under its coverage. The bank said that despite

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20 Mar 2014 12:17

Broker tips: RBS, GlaxoSmithKline, Bookmakers

Investec has raised its rating for UK banking group Royal Bank of Scotland from 'sell' to 'hold' following the recent slump in its share price, but continues to recommend investors to avoid the stock. With the stock now trading at just 0.8 times tangible net asset value (tNAV), compared with a then

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20 Mar 2014 12:01

London midday: UK stocks at six-week low after hawkish comments from Yellen

- Yellen comments rattle markets on tightening fears - FOMC tapers asset purchases by another 10bn dollars/month - Next impresses with full-year results - Changes in Budget continuing to affect stocks techMARK 2,788.04 -1.09% FTSE 100 6,500.19 -1.11% FTSE 250 16,174.99 -1.00% UK stocks dropped sha

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20 Mar 2014 10:42

Credit Suisse lowers forecasts for bookmakers on gaming duty changes

The share prices of UK bookmakers have taken a hit in the aftermath of George Osborne's 2014 budget, in which he unveiled an increase in gaming machine taxation and an extension of the horse racing betting levy to include offshore operators. Credit Suisse has responded to the news by cutting its fo

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19 Mar 2014 13:31

Paddy Power 'brought advertising into disrepute' with Pistorius ad

Bookmaker Paddy Power broke industry regulations with its Oscar Pistorius murder trial advert, the UK Advertising Standards Authority (ASA) has ruled. The company received a record 5,525 complaints for the ad, which was published in the Sun on Sunday newspaper, was accused of trivialising domestic

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11 Mar 2014 17:42

DIRECTOR DEALINGS: Paddy Power Secretary Sells Shares

LONDON (Alliance News) - Paddy Power PLC Tuesday said Secretary Jack Massey sold 54,799 shares in the company at a price of EUR59.75 per share. Paddy Power shares closed down 1.6% at 60.3911 pence Tuesday. By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1 Copyright © 2014 A

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4 Mar 2014 12:38

Paddy Power enjoys record results as mobile betting pays off

In spite of adverse sports results in the second half of the year, Irish bookmaker Paddy Power unveiled record annual profits as revenues grew in every division. Net revenue jumped 17% to €745m and pre-tax profit gained 5% to €141m, boosted by strong online and mobile performance. Chief Executive

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4 Mar 2014 12:21

Paddy Power 2013 Profits, Revenue Propped Up By Online Business

LONDON (Alliance News) - Betting and gaming company Paddy Power PLC Tuesday reported an increase in revenues and profits for the year 2013, boosted by its online business, although it said it lost out on EUR10 million in profits due to new product fees and taxes, currency depreciation and the fir

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4 Mar 2014 08:31

UK MORNING BRIEFING: Shares Rebound On Lowered Ukraine Tensions

LONDON (Alliance News) - Shares have rebound at the open Tuesday, amid reports that Russian President Vladimir Putin has order troops near the Ukraine back to their bases.

Miner Fresnillo is down 6.8% at the open as it reported profit more than halved in 2013, thou

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20 Nov 2013 11:36

GameAccount Network Raises GBP22.2 Million Ahead Of AIM Listing

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19 Nov 2013 14:17

Paddy Power Shares Drop 7.6% After It Dials Back Profit Guidance

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19 Nov 2013 13:18

STOCKS NEWS EUROPE-Lekoil helps AIM index outpace FTSE Small Caps

The FTSE small cap index falls 0.3 percent but the junior-listed AIM shares rise 0.2 percent, outperforming the mid-caps and the blue chips down 0.2 percent and 0.5 percent, respectively. AIM-listed Lekoil jumps 16 percent after its partner Africa-focused oil firm Afren annonces an explorat

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19 Nov 2013 12:13

Paddy Power warns on profits after tough sports results

Irish bookmaker Paddy Power warned on profits as summer and autumn horse racing and soccer results went against it, knocking its shares. The stock dropped 4.84p or nearly 8% to 57.66p by midday on Tuesday in London as it said 2013 operating profit should rise by a low to mid-single digit percentage

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28 Aug 2013 15:18

Paddy Power eyes bumper World Cup as profit guidance dents shares

* Shares ease on sports results, guidance * Sees low to mid double digit FY operating profit growth * H1 revenues rise 22 pct, online leads the way By Padraic Halpin DUBLIN, Aug 28 (Reuters) - Irish bookmaker Paddy Power held out the prospect of bumper takings from next

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28 Aug 2013 08:44

Paddy Power ups dividend after 22 per cent rise in net revenue

Paddy Power, which provides sports betting services, has posted a 22 per cent rise in net revenue, with growth in every division. Profit before tax for the period rose 12% to €77.0m (2012 H1: €68.7m) on net revenue of €379.8m (2012 H1: €311.2m). The amount staked by customers rose from €2.7bn to

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