Miners lead FTSE advance May 28, 2012 The FTSE tracked rises across Europe as a poll in Greece showed that that the pro-austerity conservative party in the debt laden state was ahead in the polls. According to the figures the New Democracy party could gain about a quarter of the votes, making it the biggest party with elections due on 17 June. [...]
Hargreaves Services shares plunge after profit warning May 28, 2012 British coal supplier and transporter Hargreaves Services said up to £16m will be wiped off next year’s profit due to difficulties at the company’s Maltby coal mine in South Yorkshire. The company said on Monday it estimated that delays resulting from unusual geological conditions encountered when it started mining a new coal seam will reduce [...]
Stockbroker Bloxham ordered to cease trading May 28, 2012 Ireland’s oldest stockbroking firm Bloxham has ceased trading, on the orders of the central bank, after the discovery of “financial irregularities.” Bloxham said that its income had been overstated over a number of years. The firm’s financial partner was immediately suspended and management has hired a firm of forensic accountants to study its accounts. Rival [...]
Aveva rise fuelled by oil and gas sectors May 28, 2012 British engineering design software group Aveva posted a 14 per cent rise in adjusted profit, helped by a strong demand at the end of the year from the oil and gas industries, increasing its confidence for the current year. The group reported adjusted pretax profit of £62.3m – the market was expecting an average of [...]
JP Morgan pumps $400m into China unit May 28, 2012 JPMorgan has injected 2.5bn yuan ($394m) into its China unit, the latest foreign bank to beef up its Chinese operations. Foreign banks, including HSBC and Singapore’s DBS Group, have either injected or are planning to pump in capital into their China units which are expected to grow rapidly over the coming years even as growth [...]
Dixons on track to make £160m bond repayment May 25, 2012 Europe’s second-biggest electrical goods retailer, said it was well placed to make a crucial £160m bond repayment this year and had agreed a new 300 million pound banking facility. Shares in the firm, which trades as Currys and PC World in the UK, rose seven per cent after it said it was on course to [...]
Bargain hunters help lift FTSE May 25, 2012 The FTSE 100 nosed up this morning as bargain hunters snapped up stocks which have been hit in recent sessions. On Monday the blue chip index was at a six-month low but has clawed back ground since then. Gains in Asia and on Wall Street overnight also served to lift sentiment. Insurer Aviva was the [...]
InterContinental names Cescau as chairman May 25, 2012 Unilever veteran Patrick Cescau is to become the new chairman of the world’s biggest hotelier InterContinental Hotels Group at the beginning of next year following the retirement of the 67-year old David Webster. French born Cescau, aged 63, spent 35 years working for the Anglo-Dutch consumer goods giant culminating in his role as chief executive [...]
John Lewis sales boosted by TVs May 25, 2012 John Lewis, Britain’s biggest department store group, continued its run of double digit weekly sales increases, helped by wet weather, television sales boosted by the digital switchover and demand for Jubilee themed products. The employee-owned retailer has been growing sales even though official data this week said overall UK retail sales fell last month at [...]
Bankia shares suspended ahead of expected €15bn bailout request May 25, 2012 Shares in Spain’s fourth-biggest lender Bankia were suspended on the Madrid stock exchange on Friday, ahead of an evening announcement when the bank is expected to ask the state for a rescue of more than 15bn euros (£12bn). The government is in the process of nationalising Bankia, which holds some 10 per cent of the [...]
