Wednesday, 27th August 2008
5:02pm
END-OF-DAY REPORT: Headline shares finished the day strongly, led by a buoyant mining sector, and with oil heavyweights rising as crude prices again moved higher thanks to Tropical Storm Gustav, and with Wall Street also gaining ground.
At the close of play, the FTSE100 was up 57.4 points at 5,228.1 with the FTE250 ahead 3.5 points at 9,137.1 and the FTSE Smallcaps 3.2 points stronger at 2,798.3.
NEW YORK
As London closed, the Dow Jones Industrial Average was up 39.98 points to 11,452.85, while the S&P500 was up 2.91 points at 1,274.42 and the Nasdaq Compossite gained 7.63 points at 2,369.6.
Orders for US-made durable goods surged in July, rising 1.3% on strong transportation equipment demand, the Commerce Department reported today.
The Department of Energy reported that crude oil inventory levels for the week ended...
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2:47pm
MIDAFTERNOON REPORT: Headline shares turned modestly higher midafternoon, with buoyant miners and oil heavyweights counteracting uncertainties in financial markets on both sides of the Atlantic, and with Wall Street opening lower.
At 2:30pm, the FTSE100 was up 27.8 points at 5,498.5 with the FTE250 off 39.6 points at 9,094 and the FTSE Smallcaps 3.7 points lower at 2,791.4.
NEW YORK
In opening trade, the Dow Jones Industrial Average was off 2.52 points to 11,410.35, while the S&P500 was little changed at 1,272.48 and the Nasdaq Compossite was down 1.26 points at 2,360.71.
Orders for US-made durable goods surged in July, rising 1.3% on strong transportation equipment demand, the Commerce Department reported today.
LONDON MARKETS
Chilean copper miner Antofagasta this morning revealed that high commodity prices and increased production drove first-half profits up...
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12:17pm
MORNING REPORT: Headline shares remained close to the gain line throughout the morning, with a buoyant mining sector counteracting uncertainties in financial markets on both sides of the Atlantic, and with Wall Street seen opening lower.
At high noon, the FTSE100 was down 9.4 points at 5,461.3 with the FTE250 off 88.6 points at 9,045 and the FTSE Smallcaps 5.5 points lower at 2,789.6.
NEW YORK
US stock futures suggest that Wall Street will start on the back foot, as concerns remain about the health of the banking sector.
Dow industrial futures fell 42 points, S&P 500 futures dropped 5.6 points to 1,266.10 and Nasdaq 100 futures dropped 8.25 points to 1,883.25.
US data due today includes durable goods orders and Chicago Fed manufacturing survey, while the Atlanta Fed President, Dennis Lockhart, speaks...
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9:17am
MORNING REPORT: Headline shares were little changed in early deals today, after a Wall Street session lacking direction and with Asian markets mixed this morning. The mining sector was buoyant after pleasing interim results from Antofagasta.
At 9:00am, the FTSE100 was down 1.8 points at 5,468.9 with the FTE250 off 51.2 points at 9,082.4 and the FTSE Smallcaps 1.9 points lower at 2,793.2.
US & ASIA
In the US last night, the DJIA closed up 26.78 points at 11,413.03 as rises in energy shares offset weakness among banking issues, with the S&P500 ahead 4.67 points at 1,271.51 and the Nasdaq Composite off 3.62 points at 2,361.97.
In Asia today, the Hang Seng ended up 408.06 points at 21,464.72, while the Nikkei closed down 25.75 points at 12,752.96.
Crude oil for October delivery rose 44 cents...
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8:17am
British regional newspaper group Johnston Press missed market expectations for first-half sales.
Advertising revenues dropped 10% but beat profit forecasts thanks to cost discipline it said it would maintain.
Johnston, which publishes 18 daily and 300 weekly local UK newspapers, said sales fell 6.3% to £293.1m, missing the consensus forecast of £300.3m.
Operating profit fell 15.6% to £81.6m and pretax fell 18.1% to £62.5m, both beating market expectations. Johnston said it had cut costs by £7.6m and would continue to actively manage costs.
'We expect to deliver a result reflective of these initiatives and the difficult market conditions,' CEO, Tim Bowdler, said after Johnston's ad revenues fell a further 21% in the first seven weeks of the second half.
Story supplied by MoneyAM
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