Breaking News in association with Money AM

Tuesday, 17th November 2009

FTSE tipped to open slightly higher, with Experian a focus

7:02am
PRE-OPEN REPORT: Headline shares are tipped to open slightly higher today, ahead of the release of the minutes of the last MPC meeting, with Land Securities and Experian in focus as they publish interim results.

US & ASIA

In the US last night, the Dow added 30 points at 10,437, the Nasdaq Composite gained 6 points at 2,204 and the S&P500 ticked up a point at 1,110.

In Asia today, the Nikkei fell 88.41 points to 9,641.52, while the Hang Seng ended the morning off 160.16 points at 22,753.99.
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FTSE lower as firmer dollar weakens commodity prices

5:02pm
END-OF-DAY REPORT: Headline shares closed firmly lower, investors taking the opportunity to pocket some profit after recent gains, with rising UK inflation having little effect, but a weak start in New York hitting sentiment.

At the close of play, the FTSE100 was down 36.74 points at 5,345.93 with the FTSE250 off 122.12 points at 9,401.15 and the FTSE Smallcaps 10.68 points weaker at 2,834.22.

NEW YORK

US stocks were lower in late morning trade after a mixed set of economic data, with the dollar regaining some...

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Smiths headline profits up on last year

3:02pm
Smiths headline profits are up on last year on an underlying basis despite lower revenues.

The firm said it had continued to make good progress in delivering its cost-saving programme and other operational improvement initiatives such as ERP implementation and SKU rationalisation.

After the first three months, group trading confirmed the guidance given at the annual results and was in line with expectations.

Smiths Detection has made a positive start to the year with improving sales and profit at constant exchange rates.

John Crane's sales have...

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UK COAL lowers production forecasts

3:02pm
Deep mine output at UK COAL's pits - with the exception of Kellingley - has been materially lower than anticipated over the past three weeks.

The firm said that despite deploying increased man hours and taking other mitigating actions, it believes that deep mine production for the year ending 26 December is now likely to be between 5.7 and 5.8 million tonnes instead of the 6.2 million tonnes forecast in its interim management statement on 26 october.

It said that at Kellingley, the required work has been completed on the face equipment following the...

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FTSE modestly lower midday as mining shares retreat

12:47pm
MIDDAY REPORT: Headline shares were modestly lower midday, activity muted as Asian markets stalled and in anticipation of a probable lower start on Wall Street, with news of rising UK inflation having little effect.

At high noon, the FTSE100 was down 16.62 points at 5,366.05 with the FTSE250 off 54.39 points at 9,468.88 and the FTSE Smallcaps 13.51 points weaker at 2,831.39.

NEW YORK

US stock futures turned slightly lower ahead of data on wholesale prices and industrial production for October.

Dow...

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Broker News

12:02pm
Barclays was raised to buy from neutral at Nomura, target price staying at 425p, while RBS was raised to hold from sell at ING, with the price target price cut to 40p from 46p.

Tullett Prebon upgraded to buy from add at Numis but downgraded to neutral from positive at Noble.

Arriva upgraded to buy from sell at Goldman Sachs, target price rising to 580p from 360p.

Aveva upgraded to neutral from underweight at Piper Jaffray.

BT Group cut to neutral from overweight at JP Morgan, TP falls...

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