Subscribe

feed image

Data


Module by: CoreTemplate and StockTrader
Module by: CoreTemplate and StockTrader

Business FX Blog

Adam Solomon is a specialist in business foreign exchange issues at foreign exchange brokers TORfx.

The idea of this column is to assist businesses in saving money on making or receiving payments in foreign currency. It is developed with all companies in mind from public companies with large and complex operations, to smaller companies and individuals.

>> Take a Visit

INSIGHT

Nigerian oil: New Bill threatens industry
Nigerian Oil: Experts say it would be hard to reverse proposed changes.Read more...
Tiger Woods and why companies take out 'disgrace' insurance
Insurance market, Lloyds of London, look at the Tiger Woods saga and the impact it has had on his...Read more...
Yemen gas: disturbing questions asked
The prospect of increasing Yemeni terrorism must be recognised.Read more...
Falklands: Dispute helps both British and Argentine leaders
But the crisis may well play into the political posturing of equally embattled United Kingdom Prime...Read more...
Kurdish oil: Getting left behind
Kurds push for oil law with Baghdad amid south’s sudden bright future.Read more...

Company News

Trade Of The Week: Canadian Loonie

Paddy Power Trader Spread Betting Blog >> 
A mix of views and opinions, records of trades, some educational stuff and more, all related to the financial markets
Earlier this week I highlighted the Ca [ ... ]






+ Full Story
Other Company News
Home Markets Market 2008 Friends Provident and Experian drag on FTSE

£200 Trading Bonus

Friends Provident and Experian drag on FTSE PDF Print E-mail
Written by Gary Howes   
Wednesday, 24 June 2009 09:06
The FTSE 100 is down 0.09% up at 4,235.42 at 9:53am, Friends Provident and Experian provide down force despite better showing from miners.


Anglo American (LON:AAL) being the best performer on rumours that Xstrata's merger approach has alerted Vale from Brazil and Rio Tinto's erstwhile partner Chinalco to the possibility that a deal could be done.

Copper groups Kazakhmys and Antofagasta are also in demand.

Early gains for the blue chip index have been pulled back by the combination of ex-dividend reductions and a gloomy results statement from Comet owner Kesa (LON:KESA).

Huge one-off costs sent Kesa deep into the red last year. Ignoring one-off charges, profits tumbled to £77m (2008: £141.3m) primarily due to a profit decline at Comet to £10.1m (2008: £43m) and losses at Menaje del Hogar of £23m (2008: losses £1.8m). The results do not bode well for Currys and PC World owner DSG International, which makes a trading update tomorrow.

Friends Provident (LON:FP) and Experian (LON:EXPN) have taken the biggest ex-dividend hits this morning.

Stagecoach boosted full-year profit and revenue despite the bus and train firm suffering a slowdown in revenue and passenger volume growth, especially during the second half of the year. Profit before tax, excluding intangible asset expenses and exceptional items for the year ended 30 April 2009 jumped to £196.4m from £174.4m and to £170.8m on a reported basis, up from £167.3m in 2008.

A water leak has been identified as the cause of the matte run-out which forced the closure of Lonmin's Number One furnace. The company said it is on course to reopen the furnace within the previously indicated 30-day time scale.

Information giant Pearson, is to boost its presence in the Indian education market through two initiatives costing $30m. It is forming a joint venture with Educomp Solutions to provide vocational training to students and professionals, and is taking a 17.2% stake in TutorVista, an online tutoring service based in Bangalore.

Waste management firm Shanks Group received a healthy response to its deeply discounted rights issue, with 95.59% of the shares on offer subscribed for.

McBride, the own private label household and personal care products supplier, expects underlying profits this year of not less than £35m after better than expected fourth quarter revenues. Analysts were expecting a figure of about £33m.

Sales slumped at Inchcape during the five months ended 31 May, but the car dealer says second quarter pre-tax profit should be “significantly” ahead of the £20m reported for the first quarter.