Breaking News in association with Money AM

Friday, 13th November 2009

FTSE modestly higher midday as property firms add to gains

12:47pm
MIDDAY REPORT: Headline shares were modestly higher in midday trade, with BA dominating proceedings in London following Iberia merger news and property issues again at the forefront, ahead of a perceived positive start on Wall Start.

At high noon, the FTSE100 was up 11.76 points at 5,288.26 with the FTSE250 ahead 62.08 points at 9,358 and the FTSE Smallcaps 3.63 points higher at 2,823.91.

NEW YORK

US stock futures move ahead helped by upbeat statements from Wal-Mart and Disney, but investors still cautious ahead of...

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Broker News

12:02pm
Johnson Matthey was upgraded to buy from neutral at BoA-Merrill Lynch, with the target price staying at 1,730p, while Kazakhmys was downgraded to reduce from buy at Nomura.

ASOS cut to hold from buy at Seymour Pierce.

Catlin Group raised to in-line for outperform at Fox-Pitt Cochran.

Easyjet downgraded to hold from add at Numis.

Electrocomponents raised to hold from sell at Deutsche.

Great Portland upgraded to outperform from neutral at Credit Suisse, target raised to 305p from 268p.

Henderson Group cut...

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FTSE marginally higher as BA merger lifts sentiment

9:17am
MORNING REPORT: Headline shares were marginally higher in early deals today, following a negative showing on Wall Street overnight, with BA dominating proceedings in London following Iberia merger news.

At 8:30am, the FTSE100 was up 7.77 points at 5,284.27 with the FTSE250 ahead 19.03 points at 9,314.95 and the FTSE Smallcaps 4.1 points higher at 2,824.38.

US & ASIA

In the US last night, the Dow lost 94 points at 10,197, the S&P500 fell 11 points to 1,087 and the Nasdaq Composite dropped 18 points...

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Berkeley Technology cuts Q3 net loss

8:32am
Berkeley Technology halved its third quarter net losses to $0.5m from $1m in the three months to the end of September.

But nine-month net losses rose to $2.2m - up from $2.1m last time.

The improvement in results for the third quarter resulted from a $0.4m decrease in operating expenses, primarily in staff costs, and a $0.2m change in realised investment gains and losses.

The results for the third quarter of 2008 included an other-than-temporary write-down taken on one of the group's private equity investments, and there were no investment...

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BG Group confirms new well offshore Brazil

8:32am
BG Group has confirmed that a new well - Tupi North-East - has been found on block BM-S-11 in the Santos Basin offshore Brazil.

Tupi North-East is located in the Tupi evaluation area in a water depth of 2115 metres, approximately 265km from Rio de Janeiro.

The well is 18 kilometres to the north-east of the Tupi discovery well (1-RJS-628 or 1-BRSA-369).

Partners Petrobras (65%, operator), BG Group (25%) and Galp (10%) drilled the well which penetrated an approximately 250 metre thick section of carbonate reservoirs.

...

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