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London open: Stocks fall ahead of fiscal cliff deadline

Mon, 31st Dec 2012 08:26

The Footsie opened firmly in the red on Monday morning with just one day to go before the automatic spending cuts and tax increases in the US come into effect.Without a deal by politicians Stateside to avert the so-called fiscal cliff by tomorrow, analysts expect the US economy to plunge back into recession and the jobless rate to rise back above 9%."The most important weekend for the fiscal cliff has ended without a hint of progress," said research analyst Joshua Mahony from Alpari. "It emerged late on Sunday that the crucial discussions between both Republican and Democratic representatives are still wide apart despite the clear urgency. Therefore, as it stands, the US looks likely to go over the fiscal cliff on January 1st and subsequently the markets are expected to respond negatively."In other news, German Chancellor Angela Merkel is expected to say this evening in her televised New Year's speech that "the Eurozone crisis is far from over"."The reforms that we've agreed on are starting to take effect. Nevertheless, we still need a lot of patience. The crisis is far from over," she is scheduled to say.StocksAs has been the case over the holiday period, company news was thin on the ground this morning with few blue-chip constituents reporting.Consumer packaging giant Rexam announced this morning that is had completed the disposal of its Personal Care division for £439m, selling off the Cosmetics, Toiletries and Household care products business to Sun European Partners.Hochschild Mining, the precious metals company, gained after saying that its wholly owned subsidiary, Alberta, has satisfied the conditions of its previously announced offer to acquire all of the outstanding shares of Adina Minerals.Mining group Bumi was higher after confirming that CEO Nalin Rathod will step down from the role today and be succeeded by Nick von Schirnding.AIM-listed sugar and ingredients firm Real Good Food rose after confirming that it has completed a new five-year £50m bank facility with its current financiers PNC Financial Services UK ahead of the maturity of its existing facilities in July 2013.Hydrocarbon group Jubilant Energy was in demand after hailing an important milestone at its Tripura project in India with a 'Declaration of Commerciality' having been submitted for the Kathalchari gas discovery.FTSE 100 - RisersBP (BP.) 427.55p +0.59%Imperial Tobacco Group (IMT) 2,376.00p +0.47%Aggreko (AGK) 1,747.00p +0.40%Prudential (PRU) 868.00p +0.35%British American Tobacco (BATS) 3,117.50p +0.29%Wolseley (WOS) 2,888.00p +0.21%Serco Group (SRP) 539.00p +0.19%InterContinental Hotels Group (IHG) 1,704.00p +0.12%WPP (WPP) 889.00p +0.11%SABMiller (SAB) 2,849.00p +0.09%FTSE 100 - FallersEvraz (EVR) 251.80p -1.99%Capital Shopping Centres Group (CSCG) 352.50p -1.48%ITV (ITV) 104.70p -1.23%Lloyds Banking Group (LLOY) 48.13p -1.14%Legal & General Group (LGEN) 144.20p -1.03%Anglo American (AAL) 1,885.00p -1.00%Marks & Spencer Group (MKS) 381.90p -0.99%Amec (AMEC) 1,004.00p -0.99%Melrose Industries (MRO) 229.60p -0.91%BAE Systems (BA.) 337.90p -0.91%FTSE 250 - RisersJD Sports Fashion (JD.) 699.00p +2.49%Restaurant Group (RTN) 389.90p +1.83%Diploma (DPLM) 547.50p +1.39%Dunelm Group (DNLM) 676.50p +1.35%Marston's (MARS) 122.00p +1.33%Wetherspoon (J.D.) (JDW) 530.00p +1.24%Bwin.party Digital Entertainment (BPTY) 112.30p +1.17%SVG Capital (SVI) 289.00p +1.16%ITE Group (ITE) 241.40p +1.09%Kenmare Resources (KMR) 31.50p +0.96%FTSE 250 - FallersMoneysupermarket.com Group (MONY) 156.80p -3.74%Grainger (GRI) 116.20p -2.76%Hansteen Holdings (HSTN) 78.75p -2.66%Centamin (DI) (CEY) 37.00p -2.63%Enterprise Inns (ETI) 101.10p -2.51%SDL (SDL) 493.90p -2.20%United Drug (UDG) 270.00p -2.17%Homeserve (HSV) 231.20p -1.95%Laird (LRD) 205.00p -1.91%Unite Group (UTG) 275.50p -1.78%BC
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1 Feb 2012 07:03

Wednesday broker round-up - UPDATE

Shire Pharmaceuticals: Credit Suisse maintains outperform rating and 2,350p target. Reckitt Benckiser: Credit Suisse maintains outperform rating and 3,800p target. easyJet: Credit Suisse maintains outperform rating and 503p target. Meggitt: Credit Suisse reiterates underperform rating and 330p ta

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14 Dec 2011 13:50

Real Good Food rises on strong performance

Real Good Food has seen a continued improvement in its earnings before interest, taxes, depreciation, and amortization (EBITDA) performance, compared to 2010, since 1 July to date, the firm said. Stock levels have been falling during the fourth quarter following easing of the problems in the sugar

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20 Sep 2011 07:41

Real Good Food returns to profit

Aim listed sugar distributor The Real Good Food Company swung back into a pre-tax profit after making progress across all of its businesses. Pre-tax profit was £1.15m for the six months ended 30 June 2011 compared to a loss of £1.11m the same time a year earlier. Total sales were up by 21% to £109

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1 Aug 2011 16:57

London close: Gains wiped out

After a late dive the top share index finished deep firmly in the red, reversing strong gains after some weak economic data from the US. The Institute of Supply Management´s (ISM) purchasing managers´ index for the manufacturing sector fell to 50.9 points in July, from 55.3 the month before. That d

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1 Aug 2011 14:08

Real Good Food leaves investors asking for more

The Real Good Food Company left a bad taste in its shareholders' mouths after disappointing with its half year results. Despite boasting improved year-on-year performance with increased volumes in sugar, dairy and bakery ingredients, the company has had to tackle difficulties in the sugar supply c

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2 Jun 2011 12:00

London midday: Stocks stuck lower after slide

Shares remain firmly in the red following this morning's slide. B&Q owner Kingfisher is lower even after it saw year-on-year like-for-like sales growth of 3.3% in the 13 weeks ended 30 April. Total sales were also up 3.3%, while retail profit rose 19.1% in comparison with the year before. The numb

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2 Jun 2011 08:12

Real Good Food set to beat FY forecasts

Shares of Real Good Food rose 5% after it said it is on course to significantly exceed current market forecasts for the year after strong exports to the US and increased demand for bakery products. The group said all businesses recorded a strong start to the current financial year. Progress has be

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29 Mar 2011 13:47

Tough year for sugar at Real Good Food

Reforms in the EU sugar regime held back sales at Napier Brown, the sugar business of Real Good Food Company, causing a 7% decline in total group revenues. The sugar, dairy and bakery products group saw revenue fall to £200.1m in 12 months ended 31 December, down from £215.6m previously. Sales a

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1 Feb 2011 16:26

Real Good sugar price rise

AIM-quoted Real Good Food Company is set to benefit from the soaring sugar price. Sugar supplier Napier Brown should have a good year as world-wide sugar prices reach record highs. The sugar market has been tough in recent years and last year Napier Brown had to navigate the changes in the EU suga

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1 Dec 2010 07:03

Wednesday tips round-up: BT, Shell, Electra...

BT recently reported an excellent set of operating figures; debt continues to fall; there has been good news on its pension deficit; and there is a chance the dividend could now offer real growth. As debt is reduced, the pension hole managed and its credit rating improves, the company should be abl

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30 Nov 2010 12:03

Small caps round-up: Real Good Food, Ultrasis, Creston...

Real Good Food Company reports progress across its three divisions making "great strides" toward "successful and profitable future growth", executive chairman Pieter Totté says. The sugar business Napier Brown is enjoying strong growth as a global shortage in sugar supply has driven prices to a 30-

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22 Sep 2010 07:16

Real Good Food losses widen

Shares of Real Good Food sank 19% after it said first half losses widened and sales fell 11% on the back of lower sugar prices. The sugars, ingredients and bakery firm said pre-tax losses widened to £1.3m for the six months ended 30 June 2010 compared to a loss of £1.2m the same time a year before.

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29 Jul 2010 14:19

Sector movers: Media stocks move higher

Updates from the media sector have been given an enthusiastic reception. Trinity Mirror is up more than 20%. A better advertising performance and a contribution from recent acquisition Guardian Regional Media sent first half profits climbing at the newspaper group. Underlying profits in the half -y

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29 Jul 2010 12:51

Small caps round-up: Plantic Technologies, Acal, Anglesey

Shares in Plantic Technologies soared more than 50% after the biodegradeable plastics outfit agreed an 8p per share offer from a company controlled by Gordon Merchant, one of its directors. Acal, which provides technology products and services across Europe and South Africa, said underlying sales

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29 Jul 2010 07:44

Real Good Food: Good Progress In 1H Trading Across All Units

LONDON (Dow Jones)--The Real Good Food Company PLC (RGD.LN), owner of an independent non-refining distributor of sugar in Europe (Napier Brown) and is a supplier of bakery ingredients and a manufacturer of sweet bakery products for a range of major retail customers, said Thursday that during the six

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