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London midday: Footsie slips after record quarter

Thu, 01st Oct 2009 12:08

Footsie has paused for breath after its record-breaking quarter with weapons group BAE Systems especially under the cosh. The Serious Fraud Office has asked the Attorney General if it can prosecute the defence contractor over alleged bribery in a number of countries. The SFO is deciding if it should investigate claims the UK firm paid backhanders to win contracts overseas in the Czech Republic, Romania, South Africa and Tanzania. It's understood that the company may not be prosecuted this time either, but could be told to pay a fine of between £500m and £1bn. Persistent talk that Resolution is circling L&G had the insurer higher again in early deals, while yesterday's upgrade by Deutsche Bank helped. The broker also thinks Aviva is undervalued. The insurer confirmed today it has completed the reattribution of the 'inherited estate' in its CGNU and CULAC with-profit funds worth £470m to policyholders. It has also completed the A$925m (£452m) sale of its Australian life and pensions business and wealth management platform, Aviva Australia Holdings, to National Australia Bank. Vedanta is leading the risers following some positive broker comments, but other miners, including Antofagasta, Anglo American, BHP Billiton, Randgold Resources and Fresnillo, fall backICAP is also down. The Interdealer broker expects revenue to increase by about 6% in the half year to 30 September, but profit before tax, amortisation and impairment of intangibles arising on consolidation and exceptional items to be slightly lower than last year. Profit for the year ending 31 March 2010 is seen in line with expectations of £309m-354m. Things are better over at Domino's Pizza. Concerns that the hot summer might have slowed growth proved unfounded as the company boasted of an exceptionally strong third quarter. 'As a result of strong trading in the third quarter, the board believes it is on track to exceed market expectations for the full year,' said boss Chris Moore.News that sales volumes and turnover are ahead of forecasts at Robert Wiseman, helped the Scottish dairy group advance. It is confident that half-year profits will beat expectations. Overall milk sales volumes are up over 10% on last year.Elsewhere, stockbroker and fund manager Brewin Dolphin said third quarter performance has been strong and results for the full year should be at the upper end of the board's expectations.Specialty chemicals firm Johnson Matthey has bought the assets of Applied Utility Systems from Catalytic Solutions for $8.5m in cash plus $1.5m subject to certain contingencies.3i Infrastructure says its investment portfolio continues to perform satisfactorily while continuing to deliver an attractive yield. In the six months to the end of September the infrastructure investment company invested £32m, with the main investment since its last update on 15 July being a further £5m pumped into a junior facility issued by Viridian, a company which operates both regulated and unregulated businesses within the Irish energy markets.VT Group, now a pure support services company since getting out of the shipbuilding business, is on course to meet the board's expectations for the full year.Engineering support services group Redhall tumbled after admitting profit for the year ended 30 September could be marginally below current market expectations.But investors rushed to buy shares in Grainger Thursday as the residential property group boosted its liquidity position after agreeing new banking facilities.
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6 Jun 2014 13:51

Redhall Chief Executive quits after profit warning

Engineering support services group Redhall blamed substantial delays in securing work for a profit warning and said its Chief Executive was quitting. Redhall, which provides services to the oil & gas industry, said it had reviewed its forecasts and now expected 2013/14 results to be similar to thos

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6 Jun 2014 10:49

UK MIDDAY BRIEFING: Morrisons Hit By Investor Disquiet At AGM

LONDON (Alliance News) - Wm Morrison Supermarkets is one of the big fallers on the FTSE 100 Friday after it was hit by investor disquiet over its turnaround plan at its annual general meeting, with significant protest votes against the re-election of Chief Executive Dalton Phi

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6 Jun 2014 09:38

Friday broker round-up UPDATE

African Minerals: Investec places both its target price (prev.: 189p) and its buy recommendation under review. ASOS: JP Morgan reduces target price from 6600p to 4259p and retains its overweight rating. Citi reduces target price from 7000p to 3700p, while leaving its buy recommendation unchanged. D

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6 Jun 2014 09:36

UK WINNERS & LOSERS: Synergy Health Boosted By Contract Win

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - LOSERS
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Smith & Nephew, down 1.1%. Volatile trading in the medical technology compa

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6 Jun 2014 07:29

UK MORNING BRIEFING: Shares Gain At Open Ahead Of US Jobs Figures

LONDON (Alliance News) - UK shares have opened higher Friday following a strong lead from Wall Street and ahead of US jobs figures later in the day.

Four brokers have slashed their price targets for AIM darling ASOS, following its fall from grace on Thursday, but re

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6 Jun 2014 06:48

Redhall CEO Resigns After Second Profit Warning In Two Months

LONDON (Alliance News) - Redhall Group PLC Chief Executive Richard Shuttleworth resigned Friday, after the company lowered its expectations for its current financial year for a second time in two months, hit by further delays in the timing of major contracts and as it took a more cautious line on

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3 Jun 2014 05:29

UK Earnings, Trading Statements Calendar - Week Ahead

Tuesday, June 3Read more
2 Jun 2014 13:45

UK Earnings, Trading Statements Calendar - Week Ahead

Tuesday, June 3Read more
2 May 2014 11:56

UK MIDDAY BRIEFING: IHG, RBS And AstraZeneca Highlight London Trade

LONDON (Alliance News) - InterContinental Hotels Group saw its share price jump Friday after the company declared a USD750 million special dividend and reported strong results for its first quarter.

IHG's dividend comes after the firm completed two asset disposals

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2 May 2014 11:00

UK WINNERS & LOSERS: InterContinental Hotels, RBS Lead FTSE 100

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - WINNERS
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InterContinental Hotels Group, up 8%. The company has reported that revenue pe

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2 May 2014 09:31

Redhall Group Warns On Contract Delays; Finance Director Resigns

LONDON (Alliance News) - Redhall Group PLC Friday said it is trading in line with expectations but said further delays are being experienced converting major opportunities into contract awards. It said it now expects these delays to result in a deterioration in its performance to a level be

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26 Mar 2014 12:00

Redhall Confident Of Meeting Internal Hopes Despite Project Delays

LONDON (Alliance News) - Redhall Group PLC Chairman David Jackson Wednesday said trading in the first half of the company's financial year will be marginally ahead of last year, but its profitability will be weighted towards the second half after delays in some of its key projects. In a sta

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26 Mar 2014 08:40

UK MORNING BRIEFING: UK Completes 2nd Sale Of Lloyds Bank Shares

LONDON (Alliance News) - Shares have opened higher Wednesday, as the UK government completed its second sales of shares in Lloyds Bank.

The UK government said it has raised GBP4.2 billion from the sale, meaning it has now recouped GBP7.41 billion of the roughly GBP

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7 Mar 2014 12:51

UK MIDDAY BRIEFING: Boohoo.com Latest On IPO Catwalk

LONDON (Alliance News) - Online fashion retailer Boohoo.com, the latest UK retailer to firm up its initial public offering, has said it plans to raise GBP300 million in the AIM listing, giving it a higher-then-expected initial market capitalisation of GBP560 million.

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7 Mar 2014 10:57

UK WINNERS & LOSERS: Aviva Leads Blue-Chip Risers Again

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday. ------- FTSE 100 - WINNERS Aviva, up 4.2%. After closing as the blue-chip index's biggest riser on Thursday, Aviva is again the stand out performer Frid

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