Breaking News in association with Money AM
Wednesday, 4th November 2009
7:17am
Telecoms group Cable & Wireless said today EBITDA was up 30% to £463m in the half-year to end-September, an increase of £106m. Worldwide EBITDA increased 44% to £205m, including Thus. CWI EBITDA of $427m was flat in constant currency terms.
Operating cash flow growth was 57% at £192m.
Basic earnings per share increased 41% to 4.8p.
Full year dividend is expected to be 9.5p with a 12% increase in interim dividend to 3.16p.
CWI EBITDA guidance has been revised to a range of $880m to $900m due...
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7:02am
A brief summary of the day's main business comment......
FINANCIAL TIMES Fed spells out stance on rates decisions - Levels close to zero expected for 6 months
Forecast of gas glut challenges Russian grip - Watchdog says markets buyer-led
China current account surplus set to fall - World Bank sees economy rebalancing
Lex Column: Media recovery - With “free” content out of fashion in the post-slump era, the question now...
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7:02am
PRE-OPEN REPORT: Headline shares are tipped to open thirty-eight to forty-five points lower today, according to financial websites, investors displaying caution ahead of the BoE decision on UK interest rates and quantitative easing at noon.
US & ASIA
In the US last night, the Dow added 30 points at 9,802, the Nasdaq Composite lost 2 points at 2,056 and the S&P500 rose a point to 1,047.
In Asia today, the Nikkei was down 113.29 points at 9,731.02, while the Hang Seng ended the morning off 196.46 points at 21,418.31.
...
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5:02pm
END-OF-DAY REPORT: Headline shares closed a bright session sharply higher, with retailers setting the positive tone after better-than-expected numbers from Marks & Spencer and Next, and with metals prices rising as the dollar weakened.
At the close of play, the FTSE100 was up 70.68 points at 5,107.89 with the FTSE250 ahead 236.07 points at 8,992.75 and the FTSE Smallcaps 39.02 points better at 2,788.44.
NEW YORK
US stocks advanced in late morning trade after the ISM index of non-manufacturing activity unexpectedly slid in October and jobs data came in...
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1:03pm
Logica third quarter revenues are in line with forecasts with outsourcing growth of 11% and a 12% decline in consulting and professional services.
It said revenue decline for the third quarter was stable on the previous quarter at 4% and revenue was down 3% year to date to £2,731m.
It said additional cost reduction focused on markets with weaker demand will deliver ongoing savings of £15m from 2010 at a one-off cost of around £20m in 2009
Full year revenues are expected to show similar trends with decline expected to be...
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1:02pm
Endeavour International reports a third quarter net loss of $6.4m compared with net income of $5.9m last time.
For the nine months to the end of September the firm had net income of $27.5m - up from $6.6m a year ago.
Chairmand and chief executive William L. Transier said: "We continue to make significant progress on our developments in the United Kingdom and build momentum on our initiatives in the United States.
"Our third quarter operating results were challenged by planned and unplanned downtime in the North Sea, especially on Goldeneye....
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