Headline shares trade lower early on
OPENING REPORT: Headline shares traded slightly lower on Thursday, despite good gains in the US overnight. Investors were holding steady awaiting quarterly figures due on Wall Street later today from JPMorgan Chase and Google.
At 8.50 the FTSE 100 was slightly down 4.83 points at 4341.63
US & ASIA
In the US last night, the Dow Jones Industrial Average was up 257 points at 8,616, while the S&P 500 added 27 points at 933 and the Nasdaq Composite gained 63 points at 1,863.
Crude oil traded at $61.50 a barrel on Nymex.
LONDON MARKETS
Early blue chip gainers included Schroders, Old Mutual, Wolseley and SABMiller. Those on the negative side of things included Autonomy, Diageo, Drax, Tui Travel and Anglo American.
Strong organic growth has enabled Autonomy Corporation to report record quarterly and half yearly results. The Group says that Q2 revenues were 55% higher than for the same period last year and that earnings are significantly ahead.
Revenues were $195.19m for the quarter and $324.97m for the six months to June 30 2009.
Profit before tax for the 2nd quarter was up 64% to $71.69m and for the half was up 80.65 to $121.67m.
Marine fluid management specialist, Hamworthy says that, subject to currency movements, it remains confident of meeting expectations for the year to 31 March 2010 and reports good near term visibility and a robust sales order book which stood at £222m as at 30 June 2009 ( 2008 £301m).
The Group said that order intake for new product sales remained slow with a total order intake for the Group of £29 m for the first quarter (2008 £51m).
Pub group Mitchells & Butlers grew like-for-like sales 1.7% in the eight weeks to July 11.
It expects profit for the year to be in line with market expectations of £121m.
In its Q3 interim management statement, the company says its latest figures are in line with the sales trend over the last 18 months.
Mining group Vedanta Resources expects to raise $1.5bn gross through a public offering by its subsidiary Sterlite Industries (India.
Sterlite will use the net proceeds to develop its power generation business in India, planned capital expenditure and acquisitions.
The new equity is in the form of American Depositary Shares priced at $12.15, which will be listed on the New York Stock Exchange.
Dairy Crest says that it has had a good first quarter and that trading is continuing in line with expectations.Sales in the Foods division for the quarter ended 30 June 2009 mattched those for the same period last year, excluding share of joint ventures.
In the Dairies division, sales for the quarter were down 3% compared to those for the quarter ended 30 June 2008.
Enterprise Inns reports that underlying trading performance appears to be stabilising, with the rate of decline in beer sales reducing. The group says that currently 6,100 pubs, 81% of its estate, are delivering net income which is down by less than 3% year on year.
Substantial costs are being incurred helping licensees deal with the impact of weak consumer confidence and the pressures of increased costs.
At 8.50 the FTSE 100 was slightly down 4.83 points at 4341.63
US & ASIA
In the US last night, the Dow Jones Industrial Average was up 257 points at 8,616, while the S&P 500 added 27 points at 933 and the Nasdaq Composite gained 63 points at 1,863.
Crude oil traded at $61.50 a barrel on Nymex.
LONDON MARKETS
Early blue chip gainers included Schroders, Old Mutual, Wolseley and SABMiller. Those on the negative side of things included Autonomy, Diageo, Drax, Tui Travel and Anglo American.
Strong organic growth has enabled Autonomy Corporation to report record quarterly and half yearly results. The Group says that Q2 revenues were 55% higher than for the same period last year and that earnings are significantly ahead.
Revenues were $195.19m for the quarter and $324.97m for the six months to June 30 2009.
Profit before tax for the 2nd quarter was up 64% to $71.69m and for the half was up 80.65 to $121.67m.
Marine fluid management specialist, Hamworthy says that, subject to currency movements, it remains confident of meeting expectations for the year to 31 March 2010 and reports good near term visibility and a robust sales order book which stood at £222m as at 30 June 2009 ( 2008 £301m).
The Group said that order intake for new product sales remained slow with a total order intake for the Group of £29 m for the first quarter (2008 £51m).
Pub group Mitchells & Butlers grew like-for-like sales 1.7% in the eight weeks to July 11.
It expects profit for the year to be in line with market expectations of £121m.
In its Q3 interim management statement, the company says its latest figures are in line with the sales trend over the last 18 months.
Mining group Vedanta Resources expects to raise $1.5bn gross through a public offering by its subsidiary Sterlite Industries (India.
Sterlite will use the net proceeds to develop its power generation business in India, planned capital expenditure and acquisitions.
The new equity is in the form of American Depositary Shares priced at $12.15, which will be listed on the New York Stock Exchange.
Dairy Crest says that it has had a good first quarter and that trading is continuing in line with expectations.Sales in the Foods division for the quarter ended 30 June 2009 mattched those for the same period last year, excluding share of joint ventures.
In the Dairies division, sales for the quarter were down 3% compared to those for the quarter ended 30 June 2008.
Enterprise Inns reports that underlying trading performance appears to be stabilising, with the rate of decline in beer sales reducing. The group says that currently 6,100 pubs, 81% of its estate, are delivering net income which is down by less than 3% year on year.
Substantial costs are being incurred helping licensees deal with the impact of weak consumer confidence and the pressures of increased costs.
Story provided by Business Financial Newswire
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