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Footsie has 6,000 within its sights once more as stocks bounce back strongly on hopes that the Libyan situation might be resolved. Reports that the Arab League is considering a proposal to end the fighting in Libya have boosted sentiment, and has sent the price of oil into reverse. Heavy oil users
Read moreShares in information technology services firm Parity were below par Thursday morning after the company's full year results disappointed. Revenues in 2010 slumped to £93.0m from £119.0m the year before, while the group suffered a loss before tax and exceptional items of £3.1m, compared to a profit
Read moreShares in defence firm Cobham rose despite a cautious statement with its 2010 figures. Profits in 2010 were hurt by delays in orders in the US and the company sees continuing difficulties this year as the US seeks to rein in spending following the financial crisis. Statutory pre-tax profits in 2
Read moreIT services group Parity today announced that its finance director Ian Ketchin will step down 31 March 2011. "Alastair Woolley, who has worked with Parity's new management in the past, has joined the group on an interim basis to ensure continuity until a new finance director is appointed," Parity
Read moreIT services provider Parity has jumped by more than one-fifth on the back of yesterday's announcement that it had agreed a new asset-based lending facility. PNC Financial Services UK, the UK arm of PNC Business Credit, will provide facilities of up to £3m for the next three years. Chief executiv
Read moreElectronic components supplier e2v Technologies says that its restructuring is continuing as planned. One-third of the operations at the Lincoln plant have been transferred to Chelmsford, while Grenoble has caught up with the orders delayed due to last year's strike. There will be a trading stat
Read moreIT services provider Parity's share price is attempting to recover following Tuesday's interim figures. Parity reported a 16% drop in revenues to £52.6m and a loss of £2.69m. The operations broke even but there were large write-offs and restructuring costs. The second half of the year will be di
Read moreIT services provider Parity Group says that its core business has lost money on fixed-price contracts and it needs to reduce costs to be competitive. Parity says it plans to withdraw from large fixed-price projects. Parity expects to report a first half operating loss of £1m including the costs of
Read moreShares in IT training and staffing firm Parity have bounced back following the announcement of share buying by returning chairman Philip Swinstead. Parity founder Swinstead has bought 3m shares, which takes his stake to 25.76%. Berry Asset Management has also bought 3m shares, thereby taking its s
Read moreEuropean concerns were behind sharp falls in shares today as plans by Germany to slap a ban on short-selling of European bonds, credit default swaps and ten of Germany's biggest financial groups spooked investors. German chancellor Angela Merkel's warning that Europe is facing its greatest crisis i
Read moreShares in Parity have lost more than one-fifth of their value after chief executive Alwyn Welch announced that he was stepping down. Paul Davies is returning as chief executive of the IT training and staffing company. He held the position between 1994 and 1999. Parity's founder Philip Swinstead is
Read moreLeading shares trimmed their losses over the lunchtime session but the predominant colour on the Footsie leaderboard remains red. Mining companies lead the retreat on fears that Germany's decision to impose an immediate ban on "naked short selling" of euro-denominated government bonds and also cred
Read moreWater utility company Severn Trent was the only FTSE 100 constituent to advance during the morning session, as all of the others ended the morning underwater. If the move by Germany's financial regulator to impose an immediate ban on "naked short selling" of corporate debt last night was intended t
Read moreShares in Parity slumped after the IT services group announced the departure of its chief executive Alwyn Welch. He will be replaced by Phil Davies, who founded the company and was chief executive of the company from its creation in 1994 until 1999. Welch's departure came as the company updated th
Read moreShares in training company Parity rose following Gartmore Fledgling Investment Trust's announcement on Wednesday afternoon that it had acquired a 5.66% stake. This follows Aberforth Smaller Companies Trust's reduction in its Parity stake at the end of March. Shares in Parity have been in decline s
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