Breaking News in association with Money AM

Thursday, 19th November 2009

Intertek in talks over DNV division

7:17am

Story provided by Business Financial Newswire...

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FTSE tipped to open higher, with Tesco a likely focus

7:02am
PRE-OPEN REPORT: Headline shares are tipped to open twenty-five to thirty points higher today, shrugging off news of a sell-off in New York overnight and weak showings in Asia this morning, on a day devoid of corporate news.

Tesco is a likely focus this morning after extensive press coverage of its plans to enter the home phone and broadband market.

US & ASIA

In the US last night, the Dow lost 93 points at 10,333, the Nasdaq fell 36 points at Composite 2,157 and the S&P500 slipped 15 points to...

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The Press Roundup

7:02am
A brief summary of Friday's main business news.......... Extensive coverage of Tesco's plans to enter the home phone and broadband market, with multiple tips for National Grid

Financial Times

Van Rompuy takes EU presidency - Relative unknowns take global stage

Equities drop as risk aversion grips investors - Commodities fall from recent highs

Berlin forces up Emirates’ business fares - Airline plans complaint against ‘anti-consumer’ measures

Philip Morris ordered to pay $300m to smoker -...

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FTSE closes firmly lower as heavyweight miners tumble

5:02pm
END-OF-DAY REPORT: Headline shares closed sharply lower, led by weakness in mining stocks, overpowering M&A-inspired gains for Reckitt Benckiser and a strong performance from global brewer SABMiller.

At the close of play, the FTSE100 was down 74.43 points at 5,267.7 with the FTSE250 off 194.15 points at 9,236.9 and the FTSE Smallcaps 30.19 points lower at 2,804.62.

NEW YORK

US stocks fell sharply in late morning trade, with technology stocks hit by a downgrade of chip-makers by BofA Merrill Lynch.

Approaching the close in...

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Ted Baker revenue 8.2% ahead

2:32pm
Designer brand Ted Baker announced an 8.2% increase in revenue for the period from 16 August, with gross margins in line with expectations.

The company said that although it continued to trade ahead of management expectations, results for the full year would depend on Christmas.

Retail sales were up 19.8% on last year. Average retail square footage rose by 15% to 207,150 sq ft.

The company said in its IMS that the result continued to reflect a better than anticipated performance in the UK, offset by difficult trading conditions...

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BG record productivity from Santos Basin appraisal well

1:02pm
BG Group has revealed record productivity from well tests on the Iracema appraisal well in the Tupi area in the Santos Basin.

BG Group (25%) and partners Petrobras (65% and operator) and GALP (10%) have completed two drill stem tests on the Iracema well in the BM-S-11 appraisal area in the Santos Basin pre-salt, offshore Brazil.

DSTs were carried out over two zones with aggregate production amounting to 10,500 barrels oil per day of light 32� API oil and 17 million standard cubic feet per day (mmscfd) of gas.

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