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London close:Dull end to the week

Fri, 22nd Oct 2010 16:24

London has closed lower as Wall Street failed to arouse much enthusiasm and miners fell back with a weak dollar.Talks about currency tensions at this weekend's G20 meeting in Korea are also making traders cautious.Lonmin, Eurasian Natural Resources Corp, Vedanta and Anglo American are lower.Two well-received IPOs couldn't make much impact after an initial burst. AIA, the Asian arm of the American insurance giant AIG, is raising $20.5bn from the float, which it priced at HK$19.68, at the top of the indicated range. The price values AIA at $30.5bn - exactly matching the price Prudential eventually baulked at paying earlier this year after months of shilly-shallying.Meanwhile online betting firm Betfair has priced its London float at 1,300p, valuing it at a more modest £1.39bn.Legal & General is red-faced as it revealed its third quarter results more than two weeks early after sending them to analysts last night by mistake. Included were figures revealing total worldwide new business on an annual premium equivalent (APE) basis of £466m in the three months to 30 September, taking the nine-month number to £1.35bn, up 27% on 2009. Elsewhere, BSkyB is higher after it added more customers than expected in the first quarter, boosting revenue by 15% and profit by 25%, but there's no word on News Corp's bid to take over the satellite broadcaster. Net customer growth of 96,000 in the three months to 30 September took the total to 9.96m, while a 12% increase in net product growth of 989,000 was a record. African Barrick Gold's profit fell 8% during the third quarter and revenue dipped 1%. Net income dropped to $40m during the three months to 30 September from $43m a year ago and sales of $209m compare with $211m in 2009. The company, which recently slashed production forecasts at its Buzwagi operation following a huge fuel theft, blamed the quarterly drop in revenue on a drop in ounces sold, though this was partially offset by 29% increase in the average realised gold price to $1,233 an ounce.Home credit group Provident Financial played down the possible impact of the government's welfare and spending cuts even though its core customer base are low to middle income earners. Events and publishing group UBM's trading environment is improving steadily with revenue for the nine months up 3.9% to £643m (Sept 2009: £619m) and underlying revenue up 2.1%.Internet gambling firm PartyGaming, which is merging with rival bwin Interactive Entertainment, raised revenue by 9% in the third quarter and has named Simon Duffy as chairman of the enlarged group.Broadcast and photographic equipment supplier Vitec says that trading is stronger than expected. The evidence of the period between the 1 July and 21 October is enough to suggest that Vitec will report better than expected 2010 figures. Analysts had been forecasting a 2010 profit of £23m-£24m.FTSE 100 - RisersTUI Travel (TT.) 211.50p +3.17%Resolution Ltd. (RSL) 259.40p +2.90%Essar Energy (ESSR) 539.00p +2.86%Lloyds Banking Group (LLOY) 71.85p +2.12%Marks & Spencer Group (MKS) 426.20p +1.89%Next (NXT) 2,313.00p +1.72%Intertek Group (ITRK) 1,890.00p +1.67%Royal Bank of Scotland Group (RBS) 46.18p +1.36%Inmarsat (ISAT) 626.00p +1.21%Sage Group (SGE) 275.00p +1.10%FTSE 100 - FallersReckitt Benckiser Group (RB.) 3,386.00p -4.62%Man Group (EMG) 257.00p -2.39%Eurasian Natural Resources Corp. (ENRC) 907.00p -2.16%Vedanta Resources (VED) 2,157.00p -1.91%Investec (INVP) 500.50p -1.86%Prudential (PRU) 641.00p -1.84%Weir Group (WEIR) 1,608.00p -1.71%Lonmin (LMI) 1,796.00p -1.64%Bunzl (BNZL) 756.50p -1.63%National Grid (NG.) 585.50p -1.43%FTSE 250 - RisersMicro Focus International Plc (MCRO) 411.50p +7.58%Provident Financial (PFG) 808.00p +4.53%Elementis (ELM) 114.50p +4.47%RPS Group (RPS) 215.00p +4.32%Fidessa Group (FDSA) 1,630.00p +3.89%Ultra Electronics Holdings (ULE) 1,887.00p +3.68%Premier Foods (PFD) 18.60p +3.33%JD Sports Fashion (JD.) 830.00p +3.11%Dunelm Group (DNLM) 490.50p +3.02%Avis Europe (AVE) 214.00p +2.69%FTSE 250 - FallersDaejan Holdings (DJAN) 2,528.00p -5.88%Stagecoach Group (SGC) 206.40p -4.40%Bodycote (BOY) 279.60p -4.38%Taylor Wimpey (TW.) 23.13p -4.10%Stobart Group Ltd. (STOB) 142.90p -3.97%Barratt Developments (BDEV) 80.20p -3.95%Hochschild Mining (HOC) 465.00p -3.57%Mondi (MNDI) 542.50p -2.69%Aquarius Platinum Ltd. (AQP) 365.00p -2.54%Big Yellow Group (BYG) 325.60p -2.19%
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28 Jun 2010 07:39

Partygaming ready to offer 'le poker'

Online gaming company PartyGaming has been awarded licences by the French gaming regulator, ARJEL, to run online poker and sports betting web sites for French residents. The group can offer sports betting immediately but will have to wait a short while before the French poker market is opened. The

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28 Jun 2010 07:38

London pre-open: Footsie to start higher

City traders won't want a repeat of last week when the FTSE 100 lost over 200 points, and the omens are good as the leading index reacts to movements on Wall Street Friday. London is seen up around 19 points early Monday as the Dow Jones closed ahead of where it was when the City packed up at the e

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28 Jun 2010 07:37

Bwin: Still In Merger Talks With Partygaming, Other Cos

VIENNA (Dow Jones)--Austrian online gaming and betting provider Bwin Interactive Entertainment AG (BWIN.VI) is still negotiating for a merger with its U.K. peer Partygaming PLC (PRTY.LN), the company said Monday, adding it is also talking about consolidation options with other companies. "Bwin i

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28 Jun 2010 07:06

PartyGaming Awarded Licenses By French Gaming Regulator

LONDON (Dow Jones)--PartyGaming PLC (PRTY.LN), an online gaming company, Monday announces that it has been awarded licenses by ARJEL, the French Gaming regulator, to operate online poker and sports betting websites for residents in France. MAIN FACTS: -The Group can offer sports betting imme

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27 Jun 2010 12:59

Bwin-Partygaming Fusion Falls Through - Report

BERLIN (Dow Jones)--A planned fusion between two online gaming companies--Austrian Bwin Interactive Entertainment AG (BWIN.VI) and British PartyGaming PLC (PRTY.LN)--has fallen through, an Austrian magazine reports Sunday. "Negotiations with the English in the end haven't led to the desired resu

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25 Jun 2010 08:12

UK MARKET TALK ROUNDUP: BROKERS COMMENTS

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com 0712 GMT [Dow Jones] Goldman Sachs adjusts target prices on online gaming stocks. Raises Paddy Power (PLS.DB) price target to

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25 Jun 2010 08:12

MARKET TALK: Goldman Adjusts Targets On Online Gaming Stocks

0712 GMT [Dow Jones] Goldman Sachs adjusts target prices on online gaming stocks. Raises Paddy Power (PLS.DB) price target to EUR30 from EUR28.6, noting the company's strong trading as reported in its May update. Cuts Partygaming (PRTY.LN) price target to 316p from 320p to reflect the adverse EUR/US

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21 Jun 2010 07:40

smartFOCUS Group Wins PartyGaming Contract >STF.LN

LONDON (Dow Jones)--smartFOCUS Group PLC (STF.LN), a provider of multi-channel marketing software, said Monday it has been chosen by PartyGaming PLC (PRTY.LN), an online gaming company, to implement a high performance marketing solution to increase both the volume and value of player activity across

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21 Jun 2010 07:39

Smartfocus lands PartyGaming deal

Marketing software group smartFOCUS has picked up a major contract with online poker, casino and gaming group PartyGaming. Financial terms were not disclosed, but smartFOcuS says PartyGaming has purchased the full suite of its software and services, including analysis, campaign management and repor

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17 Jun 2010 09:40

UK MARKET TALK ROUNDUP: SHARES LOSING

Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com 0840 GMT [Dow Jones] Numis Securities cuts its full-year Ebitda forecast on PartyGaming (PRTY.LN) to $145M from $151M due

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17 Jun 2010 09:40

MARKET TALK: Numis Cuts PartyGaming FY Earnings Forecast

0840 GMT [Dow Jones] Numis Securities cuts its full-year Ebitda forecast on PartyGaming (PRTY.LN) to $145M from $151M due to continued pressure on the company's share of the poker market. However, analyst Douglas Jack believes PartyGaming will launch its poker network in France in July. Jack says th

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6 May 2010 16:27

Poker wilts at PartyGaming

Online poker and casino group PartyGaming disappointed with its first quarter trading update which revealed a dip in average daily revenue from the preceding quarter. Group revenue was up 27% to $127.1m from $100.1m in the first quarter of 2009 while average daily revenue was 2% lower than in the f

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19 Apr 2010 08:35

Second French B2B deal for PartyGaming

Online poker and casino group PartyGaming is to provide a white label online poker service to French broadcaster AB Groupe. It is the second business to business (B2B) deal PartyGaming has signed in France. The new service will be called "LuckyJeux" and will be part of PartyGaming's French poker n

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26 Mar 2010 09:37

Partygaming in French deal

Online gaming specialist PartyGaming is to provide an online poker service in France on behalf of France's equivalent to the Tote betting service. PMU, the French pari-mutuel horse racing company, will enlist PartyGaming's aid in setting up a PMU-branded online poker service that will a rebadged ve

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5 Mar 2010 06:52

Friday tips round-up; Schroders, Aggreko, Standard Chartered

The stock market may still be one fifth below its record high, but Schroders has surpassed its turn of the century peak. Yesterday's full-year results from the FTSE 100 fund manager revealed that its total assets under management had risen to £148bn. The company's willingness to continue sitting on

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