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London open: Footsie fights back

Tue, 18th Aug 2009 08:11

London's top stocks are winning back some of the heavy losses it posted yesterday, with miners among the main risers.Xstrata is the best blue chip performer in early dealings, closely followed by Rio Tinto, Randgold Resources and Kazakhmys.Cash strapped miner Rio Tinto has received a $2.025bn offer for the majority of its Alcan Packaging business. The binding offer has been received from Amcor and covers the Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions. British Land saw the value of its property portfolio fall to £8.18bn in the first quarter but said the pace of decline has slowed markedly. A joint venture including support services firm Carillion has won a 'Building Schools for the Future' contract for Durham. Car dealer Pendragon reported sharply lower profits in the six months to June 30 as recession-hit motorists held onto their old cars rather than splashing out on new ones. Respiratory inhaler firm Vectura remains "very confident" about prospects with important drug trials due to start later this year and plenty of cash in the bank.Online video services provider Amino Technologies posted an operating loss compared with a profit the same time a year before as challenging economic conditions continued hit the group. Nightclub owner Luminar can breathe a little easier on news that 95.5% of the shares available through an open offer have been taken up and buyers have been found for the remainder.Chip designer Arc International is recommending a £25.2m cash bid from US semiconductor intellectual property firm Virage Logic.The slump in construction activity hit property repair and maintenance company Rok hard in the first half of 2009, but the company is confident of meeting full year expectations, provided market conditions do not deteriorate further.Australian alternative energy developer Ceramic Fuel Cells revealed widening annual losses after it booked significant impairment charges related to losses on financial investments.In other news, government owned lender Northern Rock is to defer interest payments on some of its subordinated debt.FTSE 100 - RisersXstrata (XTA) 764.00p +2.96%Rio Tinto (RIO) 2,310.00p +2.87%Randgold Resources (RRS) 3,510.00p +2.78%HSBC Holdings (HSBA) 655.70p +2.77%Kazakhmys (KAZ) 887.00p +2.72%Liberty International (LII) 484.10p +2.48%Legal & General Group (LGEN) 68.85p +2.46%FTSE 100 - FallersSchroders NV (SDRC) 804.50p -1.95%Thomas Cook Group (TCG) 207.40p -1.19%Schroders (SDR) 965.50p -0.97%GlaxoSmithKline (GSK) 1,157.00p -0.90%Petrofac Ltd (PFC) 876.00p -0.68%WPP Group (WPP) 467.10p -0.60%Standard Life (SL.) 183.50p -0.49%
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18 Aug 2021 09:51

Philip Morris buys 22.6% stake in Vectura as experts warn against deal

(Sharecast News) - US tobacco giant Philip Morris International bought a 22.6% stake in London-listed inhaler-maker Vectura, as health experts warned investors not to approve a takeover.

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17 Aug 2021 16:06

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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12 Aug 2021 17:53

TOP NEWS: Philip Morris GBP1 billion bid wins Vectura backing

TOP NEWS: Philip Morris GBP1 billion bid wins Vectura backing

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12 Aug 2021 17:28

UPDATE 2-UK's Vectura bows to sweetened 1.1 bln stg Philip Morris offer

(Recasts, adds background, shares)By Yadarisa ShabongAug 12 (Reuters) - Cigarette maker Philip Morris won the support of Vectura for its 1.1 billion pound ($1.5 billion) takeover offer for the inhaled treatments maker after outbidding private equi...

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12 Aug 2021 17:13

Philip Morris wins takeover battle for inhaler maker Vectura

(Sharecast News) - US tobacco giant Philip Morris has won the battle for London-listed inhaler maker Vectura.

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11 Aug 2021 15:55

UPDATE 3-Americans vie for UK's Meggitt as TransDigm makes $9.7 bln overture

* Meggitt gets possible 900p/share offer from TransDigm* Shares hit fresh record high of 846p* Company continues to back Parker-Hannifin offer (Adds background, share moves of TransDigm and Parker)By Yadarisa Shabong and Pushkala AripakaAug 11 (Reut...

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11 Aug 2021 15:55

UPDATE 2-Americans vie for UK engineer Meggitt as TransDigm makes $9.7 billion overture

* Meggitt gets possible 900p/share offer from TransDigm* Shares hit fresh record high of 846p* Company continues to back Parker-Hannifin offer (Adds shares, detail, background)Aug 11 (Reuters) - A U.S. bidding battle could be brewing for UK aerospa...

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11 Aug 2021 15:55

UPDATE 2-Americans vie for UK engineer Meggitt as TransDigm makes $9.7 billion overture

* Meggitt gets possible 900p/share offer from TransDigm* Shares hit fresh record high of 846p* Company continues to back Parker-Hannifin offer (Adds shares, detail, background)Aug 11 (Reuters) - A U.S. bidding battle could be brewing for UK aerospa...

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11 Aug 2021 09:33

TOP NEWS: Vectura to decide own fate after Carlyle swerves auction

TOP NEWS: Vectura to decide own fate after Carlyle swerves auction

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11 Aug 2021 08:17

LONDON BRIEFING: Avast results strong ahead of NortonLifeLock merger

LONDON BRIEFING: Avast results strong ahead of NortonLifeLock merger

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11 Aug 2021 07:59

Carlyle says Vectura offer is final, paves way for PMI

(Sharecast News) - US tobacco giant Philip Morris looks set to potentially clinch the deal for Vectura after rival suitor Carlyle said it would not be upping its offer for the London-listed inhaler maker.

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10 Aug 2021 17:16

UPDATE: No auction for Vectura as Carlyle opts not to raise bid

UPDATE: No auction for Vectura as Carlyle opts not to raise bid

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10 Aug 2021 17:02

UPDATE 2-No auction for Vectura as Carlyle declares $1.3 bln takeover bid final

(Recasts, adds detail, background)By Yadarisa ShabongAug 10 (Reuters) - The takeover battle between tobacco giant Philip Morris and private equity firm Carlyle for inhaled treatments maker Vectura will not be heading to the auction ring on Wednesd...

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10 Aug 2021 12:19

LONDON MARKET MIDDAY: Stocks mixed as investors eye US inflation

LONDON MARKET MIDDAY: Stocks mixed as investors eye US inflation

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10 Aug 2021 10:38

Philip Morris changes Vectura bid to takeover offer ahead of auction

Philip Morris changes Vectura bid to takeover offer ahead of auction

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