| CATEGORY: MARKET REPORT - CLOSE SECTOR: HEALTH CARE EQUIPMENT & SERVICES |
London close: Earnings push Footsie higher |
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Thu 27 Jul 2006
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Market Movers
FTSE 100 5,929.50 +0.89%
techMARK 1,308.53 +0.34%
FTSE 250 9,362.00 +0.82%
LONDON (SHARECAST) - Footsie closed near to its best for the day helped by a string of good earnings figures and a strong start on Wall Street.
Smith & Nephew ended the day top of the FTSE 100 pile as the medical devices group issued a better than expected statement saying it had seen an improvement in the second quarter, sending the shares nearly 8% higher by the afternoon.
The news confounded expectations that the group’s trading had deteriorated further over the second quarter and Smith & Nephew also reassured over its earnings guidance for the full year.
Accountancy software group Sage also had a good day, pushing S&N close for the top spot.
Fund manager Amvescap released its first half figures late in the day, confirming that it has seen a slight improvement in funds under management while first half profits soared 60% to $355.9m.
Aerospace firm Rolls-Royce was trading sharply higher after it said it continued to make good progress, despite a weak US dollar and higher raw material costs. Underlying profit climbed 22% to £324m.
Oil giant Royal Dutch Shell posted a better than expected 36% hike in second quarter current cost of supply earnings to $6.3bn, aided by a good operational performance and high energy prices.
British Gas owner Centrica recovered from a poor start, as the group announced it was hiking customers’ gas and electricity bills again. Operating profit for the first half was down 29% to £692m, on sales up to £8.7bn from £6.bn.
AstraZeneca led the fallers after it kept its earnings guidance unchanged for the year, disappointing optimistic investors. The group said it expects full year EPS in the upper half of the previously announced $3.60 to $3.90 range.
Anglo Dutch publisher Reed Elsevier posted a 14% rise in first half pre-tax profit after good subscription renewals and growing online sales. After rising initially, the shares continued to slip behind through the day despite hints of share buybacks.
Cigarette maker British American Tobacco slipped as it rolled out a first half profit of £1.4bn versus £1.3bn a year ago as it benefited from favourable exchange rates but said these rates were unlikely to continue in the second half.
Fixed line telecoms giant BT Group slipped after reporting ‘in line’ first quarter figures, with profits driven higher by bumper growth in broadband and IT services. Underlying earnings came in 2% higher at £1.39bn.
Kingfisher was also doing well after its second quarter saw strong international performance and signs of progress at B&Q in the UK, despite a continuing weak consumer market for home improvement.
Life insurer Legal & General saw interim operating profit rise 17%, reflecting strong results in its UK life pensions and investment management, though shares slipped back by the afternoon.
Resurgent metal prices pushed the mining sector well ahead today prompting a positive note from UBS, as the Swiss broker said it was keeping “buy” advice on all UK miners.
Specifically the Swiss broker also lifted its price target on Antofagasta by 5% to 525p but said its top picks are Xstrata and Lonmin.
On the second line, mortgage lender Bradford & Bingley beat expectations with a 9% rise in half year pre-tax profit but was hit by another charge to cover mis-selling of endowment and investment products.
EMI also fell after it abandoned its attempt to acquire Warner Music “for the time being”, just two weeks after a European court decided to annul the European Commission's authorisation of the merger of Sony Music and BMG.
Carphone Warehouse said nearly half a million customers have signed up to its new broadband service as it revealed another rise in revenues for the first quarter.
Psion plunged after the handheld computer maker warned that competitive pressures, the evolving mix of products and adverse exchange rates would slash first half operating profit.
FTSE 100 - Risers
Smith and Nephew (SN.) 462.75p +7.12%
Kazakhmys (KAZ) 1,261.00p +6.41%
Sage Group (SGE) 230.00p +5.99%
Xstrata (XTA) 2,141.00p +5.26%
Rolls-Royce (RR.) 442.75p +5.04%
FTSE 100 - Fallers
Astrazeneca (AZN) 3,209.00p -3.34%
Reckitt Benckiser (RB.) 2,108.00p -2.18%
Northern Rock (NRK) 1,106.50p -1.91%
GlaxoSmithKline (GSK) 1,485.00p -1.46%
Shire (SHP) 838.00p -1.41%
FTSE 250 - Risers
Soco International (SIA) 1,375.00p +6.26%
Aquarius Platinum (AQP) 925.00p +5.71%
Northern Foods (NFDS) 87.00p +4.82%
Speedy Hire (SDY) 950.00p +4.63%
Charter (CHTR) 757.50p +4.48%
FTSE 250 - Fallers
Carphone Warehouse (CPW) 271.75p -4.82%
Bradford & Bingley (BB.) 449.00p -2.97%
Britvic (BVIC) 208.25p -2.69%
888 Holdings (888) 157.00p -2.48%
Colt Telecom (COLT) 125.00p -2.15%
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| SN. - Smith & Nephew |
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| Latest Prices |
| Name |
Price |
% |
| Smith & Nephew |
544.00p |
0.00% |
| Antofagasta |
1,082.00p |
-1.10% |
| AstraZeneca |
3,280.00p |
-0.15% |
| British American Tobacco |
2,300.00p |
+0.39% |
| Bradford & Bingley |
0.000p |
0.00% |
| BT Group |
135.90p |
-0.59% |
| Centrica |
325.40p |
-1.81% |
| Carphone Warehouse Group |
0.000p |
0.00% |
| EMI Group |
0.000p |
0.00% |
| Invesco |
0.000p |
0.00% |
| Kingfisher |
215.70p |
+1.55% |
| Legal & General Group |
95.20p |
+0.90% |
| Lonmin |
1,577.00p |
-1.87% |
| Psion |
95.75p |
+2.41% |
| Royal Dutch Shell 'B' |
1,722.50p |
+0.12% |
| Reed Elsevier |
542.50p |
+0.74% |
| Rolls-Royce Group |
569.50p |
+0.09% |
| Sage Group |
249.40p |
0.00% |
| Xstrata |
1,088.00p |
-0.05% |
| |
| FTSE 100 |
5,371 |
+0.09% |
| FTSE 250 |
10,141 |
+0.80% |
| FTSE 350 |
2,835 |
+0.18% |
| FTSE All-Share |
2,773 |
+0.20% |
| FTSE Small Cap |
2,840 |
+0.87% |
| techMARK |
1,673 |
+0.31% |
| techMARK 100 |
1,840 |
+0.64% |
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