FTSE buoyed by miners March 30, 2012 The FTSE 100 rebounded in early trading as mining stocks continued to edge up. In London copper prices climbed and are on track for a more than 10 per cent first-quarter gain. However more sluggish demand from China is still casting a shadow. Among miners Kazakhmys and Antofagasta were the star performers, up two per [...]
John Lewis sales hit by fine weather March 30, 2012 John Lewis, Britain’s biggest department store chain, said today hot weather held back last week’s sales growth, as shoppers spent more time outdoors, in addition to tough comparative numbers last year. The retailer said department store sales rose 6.5 per cent to £57.9m in the week to March 24. This was a slowdown from the [...]
LSE posts solid results ahead of key LCH vote March 30, 2012 The London Stock Exchange reported steady trading results as the market gears up for a crucial shareholder vote next week on its takeover of LCH.Clearnet. The exchange group said in a regulatory filing the value of share trading was down two per cent for the 11 months to the end of February while Italian equity [...]
Labour loses seat to Galloway March 30, 2012 The Labour party lost one of its safest parliamentary seats after a by-election in northern England, in the strongest sign yet that new leader Ed Miliband is failing to cash in on disenchantment with the Conservative government. George Galloway, an anti-war campaigner in the small, left-wing Respect party, beat Labour’s Imran Hussain in a result [...]
Mining gains offset retail weakness March 29, 2012 The FTSE was broadly flat in early trading with a bounce back in the mining sector helping to offset weaknesses among blue chip retailers like Marks & Spencer. Official figures which yesterday saw the UK’s GDP figures revised down have hit investor sentiment while energy stocks are coming under pressure from volatile oil prices. But [...]
GDF in £6bn swoop for International Power March 29, 2012 French utility GDF Suez offered £6bn ($9.5bn) for the 30 per cent of British electricity producer International Power (IPR.L) it does not already own, seeking to integrate the two companies more closely. The announcement came as German utilities E.ON and RWE said they would no longer build new nuclear power stations in Britain, raising doubts [...]
Service sector in slim rise March 29, 2012 Britain’s dominant service sector grew modestly in January, official data showed on Thursday, raising the chances that the overall economy can avoid a renewed recession. The output from the sector ranging from banks and hotels to airlines grew by 0.2 per cent after an 0.3 per cent increase in December, the Office for National Statistics [...]
FirstGroup in blow from bus division March 29, 2012 Transport operator FirstGroup said growth was stalling at its bus operations in the north of England and Scotland, reflecting a growing disparity between the region and the prosperous south of England. “The economic environment is presenting challenging trading conditions and performance during the year reflects the growing North-South divide with considerably lower growth rates emerging [...]
E.ON and RWE shelve UK nuclear plant plans March 29, 2012 German utilities E.ON and RWE have shelved their plans to build new nuclear plants in Britain, sources told Reuters on Thursday. “The companies want to withdraw from that,” said a source close to the companies and informed about the developments. Both companies and their joint venture Horizon declined to comment. They had planned up to [...]
Britain lines up 13 rail franchise bidders March 29, 2012 Stagecoach, FirstGroup, Go-Ahead and National Express are among 13 firms vying to be the next operators of the Great Western, Thameslink and Essex Thameside rail franchises, Britain’s Department of Transport said. “The Government is engaged in the biggest programme of refranchising since the privatisation of the railways,” Rail Minister Theresa Villiers said on Thursday, adding [...]
