UK house prices tick up in January January 31, 2013 UK house prices edged up in January, boosted by the Funding for Lending scheme, mortgage lender Nationwide said this morning. According to the lender, house values ticked up 0.5 per cent in January, although values were flat year on year, avoiding a decline for the first time since February. The typical UK home is now [...]
Shell annual profits tumble January 31, 2013 Annual profits at oil giant Shell dropped six per cent to $27bn (£17.07bn) compared with $28.6bn in 2011, as it was hit by weaker oil and gas prices. Fourth quarter earnings on a current cost of supply rose to $7.3bn compared with $6.5bn in the fourth quarter of the previous year, helped by refining margins. [...]
FTSE 100 rally continues January 30, 2013 The FTSE 100 rally showed signs of continuing this morning, as the blue chip index edged up 0.1 per cent, despite a slew of weak trading statements from large-cap companies. Oil and gas services firm Petrofac topped the blue chip loser board, shedding more than seven per cent. Other large-cap fallers dropped on the back [...]
Phoenix in £250m share placing January 30, 2013 Phoenix Group Holdings, the closed life assurance funds group created by entrepreneur Hugh Osmond, this morning confirmed plans to raise £250m in a share placing. The placing will enable the firm to reduce its debt pile, from £2.36bn to £1.85bn, as part of a major restructuring. Phoenix declared a final dividend of 26.7p a share, [...]
United Utilities on track for targets January 30, 2013 Waste and water group United Utilities said today that it is trading in line with expectations, although it said that revenue had increased at a rate slightly below the regulated price rise. This reflected the ongoing impact of a tough economic climate, the FTSE 100 utility firm said this morning. Depreciation, power and other costs [...]
Imperial Tobacco warns that black market could hit first-half profit January 30, 2013 Imperial Tobacco said this morning it expects first half operating profit to be down year on year, hit by growing competition from the black market in Europe. The cigarette group said this morning that market trends had worsened in a number of key markets, including the EU and Russia. Imperial, which makes brands including JPS, [...]
Third quarter profits fall at Johnson Matthey January 30, 2013 Chemicals firm Johnson Matthey saw profits plunge over the third quarter, due to lower sales in its precious metals products division. Underlying pre-tax profits sank 19 per cent to £84.3m over the third quarter. The precious metal product division, which refines and fabricates precious metals such as platinum, posted a seven per cent drop in [...]
FTSE 100 smashes through 6,300 level January 29, 2013 The FTSE 100 nudged back over the 6,300 level this morning – which it smashed through for the first time in almost five years yesterday – as it edged up around 0.15 per cent. Steelmaker Evraz was the biggest blue chip gainer this morning, adding 2.38 per cent. Global miner Anglo American rose two per [...]
William Hill profits boosted by online growth January 29, 2013 Operating profit jumped in 2012 for bookmaker Wiliam Hill, as it was boosted by strong revenue growth from its online business. The firm said this morning that operating profit was up 20 per cent over the 12 months, boosted by a 12 per cent increase in group revenues. William Hill, which has more than 2,300 [...]
Bumi sets date for boardroom battle January 29, 2013 Coal miner Bumi said this morning its general meeting would be held on 21 February, for shareholders to vote on co-founder Nat Rothschild’s proposals to overhaul the board. The financier has proposed the removal of 12 out of 14 current directors of Bumi. But in a circular to shareholders this morning, Bumi said that Rothschild’s [...]
