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S&P downgrades Tesco by a notch

S&P downgrades Tesco by a notch

Fri, 24 October 2014

Tesco's credit rating suffered the third downgrade in twenty-four hours after Standard & Poor's (S&P) lowered its rating on the retailer giant to 'BBB-' from 'BBB'. S&P cited lower profitability and n... [more]

Stellar Resources, Solo Oil and others strike oil near UK's Gatwick Airport

Stellar Resources, Solo Oil and others strike oil near UK's Gatwick Airport

Fri, 24 October 2014

A string of oil companies have struck oil near Gatwick Airport in southern England. The companies, including Stellar Resources, Solo Oil, Regency Mines, UK Oil & Gas Investments, Alba Mineral Resource... [more]

Indian monsoon blows Greenko in right direction

Indian monsoon blows Greenko in right direction

Fri, 24 October 2014

The Indian monsoon helped to keep the wind turbines turning at renewable energy group Greenko in the first half, although it was late in coming. Greenko said the annual monsoon, which usually takes pl... [more]

Astrazeneca's Olaparib treatment given thumbs up by European committee

Astrazeneca's Olaparib treatment given thumbs up by European committee

Fri, 24 October 2014

Friday brought good news for Astrazeneca shareholders after its Olaparib treatment was recommended for marketing authorisation by a European Medicines Agency (EMA) committee. The committee for Medicin... [more]

Tesco biggest sales loser in last three months, says Nielsen

Tesco biggest sales loser in last three months, says Nielsen

Fri, 24 October 2014

There was more bad news for Tesco on Friday after new figures showed it was the industry's biggest sales loser in the last three months. Tesco's sales in the 12 weeks to 11 October dropped 5.2% agai... [more]

Petra Diamonds sells 232-carat white diamond for $15.22m

Fri, 24 October 2014

Petra Diamonds has sold the 232.08 carat white diamond discovered at its Cullinan mine in South Africa in September for $15.22m. It was bought by Diacore, a multinational diamond company. Chief execu... [more]

Shire hikes Q3 profits and voices confidence

Fri, 24 October 2014

Shire Pharmaceuticals posted higher third quarter profit and said it was confident of prospering as an independent company after US group Abbvie dropped its takeover bid. Shire said non-GAAP operating... [more]

Spectris to miss full-year profit expectations as trading weakens - UPDATE

Fri, 24 October 2014

Electrical engineering firm Spectris has warned that its full-year operating profit will be "modestly below" market expectations of £200m due to little improvement in the economic conditions of its ma... [more]

Bank of Georgia signs $35m senior loan deal with German bank

Fri, 24 October 2014

Bank of Georgia announced it has signed a $35m senior loan agreement with Deutsche Investitions und Entwicklungsgesellschaft (DEG). The five-year loan will be used to extend financing to the growing s... [more]

Morgan Sindall warns on profits after contract delays

Fri, 24 October 2014

Construction and regeneration specialist Morgan Sindall has warned on profits after delays and higher costs on some contracts. Morgan said it had taken a hit from a small number of construction contra... [more]

C&C set to make rival bid for Spirit Pub Company

Fri, 24 October 2014

Irish drinks group C&C has muscled in on rival Greene King's £723m attempt to buy UK pub group Spirit Pub Company. C&C, which makes Magners, Bulmers and Gaymers ciders as well as Tennent's lager, said... [more]

Amlin signs papers to lift stake in Leadenhall Capital Partners

Fri, 24 October 2014

Insurance group Amlin has signed a previously-announced deal to lift its stake in the Leadenhall Capital Partners (LCP) joint venture it set up in 2008. LCP provides asset management solutions to inst... [more]

Dechra Pharmaceuticals gets year off to a good start with strong Q1

Fri, 24 October 2014

Dechra Pharmaceuticals has got its financial year off to a good start with a 6% increase in revenue during the first quarter, in line with expectations. It said, however, that the performance came aga... [more]

Vesuvius trading in line, but conditions 'challenging'

Fri, 24 October 2014

Molten metal flow engineering firm Vesuvius said it has seen a "softening in market conditions in certain regions" since the half-year stage, but its full-year outlook hasn't changed. Trading in the t... [more]

Rolls forms parts JV with France's Safran

Fri, 24 October 2014

Aerospace and defence group Rolls-Royce has formed a joint venture with Safran's Hispano-Suiza to make parts for Rolls' commercial aircraft jet engines. Rolls said it had signed a deal with Hispano-Su... [more]

Pets at Home posts higher H1 sales, on track for FY targets

Fri, 24 October 2014

Pet shop chain Pets at Home reported higher first half sales and said it was on track to hit full-year targets. Pets at Home said like-for-like sales rose 4.2% both in the second quarter and first hal... [more]

Cobham wins £350m search-and-rescue contract in Australia

Fri, 24 October 2014

Defence and security technology group Cobham has bagged a contract worth AUD$640m (£350m) with the Australian Maritime Safety Authority (AMSA) to provide airborne search-and-rescue services across the... [more]

Hikma Pharmaceuticals receives warning letter from FDA

Fri, 24 October 2014

Pharmaceuticals group Hikma received a warning letter from the US Food and Drug Administration overnight relating to its manufacturing facility in Portugal. The agency raised issues related to investi... [more]

Ophir Energy expands offshore Gabon with two new blocks

Fri, 24 October 2014

Ophir Energy has expanded its footprint in the highly prospective North Gabon basin after signing agreements for two new offshore blocks. The group said on Friday that it has signed exploration and pr... [more]

TSB reports higher Q3 profits

Fri, 24 October 2014

UK challenger bank TSB reported higher third quarter profits and said it was ahead of its long term target in attracting customers switching from other banks. TSB, which demerged from Lloyds Banking G... [more]

Pearson CFO to step down as company reiterates guidance

Fri, 24 October 2014

Publishing and education group Pearson has revealed that its chief financial officer (CFO) is to step down after 10 years of service, as the Financial Times owner reiterated its profit guidance for th... [more]

Moody's and Fitch downgrade Tesco by a notch

Thu, 23 October 2014

Disappointing news just keeps coming for Tesco, with Moody's downgrading the stricken retailer's credit rating from Baa2 to Baa3 just hours after the firm had admitted overstating its first half pre-t... [more]

Land Securities acquires modest stake in Lend Lease Retail Partnership

Thu, 23 October 2014

Land Securities has marginally increased its stake in the Bluewater shopping centre in Kent after acquiring a 1.6% stake in the Lend Lease Retail Partnership for £12.8m. The partnership's major invest... [more]

Crunch time for retailers as Christmas looms large

Thu, 23 October 2014

Today's retail sales figures have had a deleterious effect on the sector, writes IG market analyst Christopher Beauchamp, with the shock drop in UK consumer confidence to a four-year low adding extra ... [more]

Tesco broker round-up - Barclays, Deutsche Bank, Shore Capital

Thu, 23 October 2014

There was a wide range of analyst reaction after Tesco unveiled interim results, with one commentator saying they contained "the worst performance in 40 years" as profit before tax bombed 92% to £112m... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Shire Plc 4,050.00 3.98 17:14
Vodafone Group 200.50 1.85 17:14
Standard Chartered 1,115.00 1.46 17:02
Old Mutual 184.70 0.65 17:08
3i Group 379.60 0.56 17:00

FTSE 100 Top Fallers

Name Last Chg.% Time
Pearson 1,139.00 -2.57 17:02
G4S 251.00 -2.41 17:02
Anglo American 1,308.00 -2.39 17:08
Tullow Oil 494.60 -2.16 17:02
InterContinental Hotels Group 2,217.00 -1.90 17:08