Thursday, 20th November 2008
5:02pm
END-OF-DAY REPORT: Headline shares closed the session sharply lower, with mining shares among the biggest losers on fears that demand for raw materials will be hit as the economy slows, and with insurance firms also under severe pressure.
At the close of play, the FTSE100 was down 130.69 points at 3,874.99 with the FTSE250 off 127.9 points at 5,578.68 and the FTSE Smallcaps 63.13 points weaker at 1,758.94.
NEW YORK
US stocks opened lower, with concerns about the economy and the ailing financial and automotive continuing to hit sentiment.
As London closed, the Dow Jones Industrial Average was down 56.23 points to 7,941.05, the S&P500 fell 10.8 points to 795.78, while the Nasdaq Composite was up 0.63 points to 1,387.05.
LONDON MARKETS
UK retail sales fell less than...
Continue reading...
Email to a friend |
Permalink |
Comment
2:47pm
MIDAFTERNOON REPORT: Headline extended losses midafternoon, with mining shares among the biggest losers on fears that demand for raw materials will be hit as the economy slows, and with a sharply lower opening on Wall Street today.
At 2:30pm, the FTSE100 was down 97.89 points at 3,907.79 with the FTSE250 off 62.48 points at 5,644.1 and the FTSE Smallcaps 46.43 points weaker at 1,775.64.
NEW YORK
US stocks opened sharply lower, with concerns about the economy and the ailing financial and automotve sectors leading the way down to a new five-year low.
The Dow Jones Industrial Average fell 160 points to 7,837, the S&P500 fell 19 points to 787, while the Nasdaq Composite lost 23 points to 1,363.
LONDON MARKETS
UK retail sales fell less than expected in...
Continue reading...
Email to a friend |
Permalink |
Comment
2:32pm
Adhesive tape supplier Scapa Group today reported a 60% increase in headline earnings per share to 1.9p in the half-year ended 30th September.
The company said sales increased to £6.9m due to favourable currency movements.
Trading profit came it at of £4.8m, equal to last year’s strong first half, Scapa said.
Net cash balances were approaching £10m at period end.
Commenting on the results, CEO, Calvin O'Connor, said: 'Trading profit was in line with last year’s strong performance with gains in our European and Asian businesses offsetting the shortfall in North America.
'Second half sales levels to date are almost 10% lower than last year and our order visibility remains relatively short, with automotive particularly weak.'
Story supplied by MoneyAM
Email to a friend |
Permalink |
Comment
12:47pm
Rolls Royce said it will cut between 1,500 and 2,000 jobs next year, about 4% of its global workforce.
The engine manufacturer, which employs about 39,000 people in total, said it was already in consultations with employee representatives about cutting 140 jobs at its UK assembly and test facility in Derby.
CEO, John Rose, said in a statement, 'We are determined to maintain our focus on cost reduction and competitiveness as the world economy enters a challenging period.
"Rolls-Royce has been reviewing the possible impact of current economic uncertainties, delays on individual programmes, such as the Airbus A380 and the Boeing 787, and the benefits of the group's continuing focus on efficiency," it said.
Story supplied by MoneyAM
Email to a friend |
Permalink |
Comment
12:47pm
MIDDAY REPORT: Headline shares remained firmly lower at midday, with mining shares among the biggest losers on fears that demand for raw materials will be hit as the economy slows, and with a weaker opening expected on Wall Street today.
At high noon, the FTSE100 was down 74.62 points at 3,931.06 with the FTSE250 off 52.73 points at 5,653.85 and the FTSE Smallcaps 13.29 points weaker at 1,778.78.
NEW YORK
US stock futures dropped further on increasing worries over the financial and automotive sectors.
Dow Jones Industrial Average futures dropped 103 points, S&P500 futures slid 14.6 points to 797.90 and Nasdaq 100 futures fell 21.25 points at 1,071.20.
LONDON MARKETS
UK retail sales fell less than expected in October and public finances showed their first deficit for the month...
Continue reading...
Email to a friend |
Permalink |
Comment
