LSE profit down 40% as competition bites
Market Watch (Free subscription) | yesterday
The London Stock Exchange reports a 40% drop in fiscal first-half net profit as rising competition from other trading platforms hit its equities business.
London Stock Exchange
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Europe up for second session in three
Market Watch (Free subscription) | yesterday
LONDON (MarketWatch) -- European shares moved higher on Wednesday, the second day of gains in three sessions, with miners leading the advance as commodity futures rose in electronic trading. Shares of Xstrata climbed 1.8% and Antofagasta shares climbed 1.6% in the mining sector. Elsewhere, Compass Group shares rose 3.1% after the catering group posted fiscal-year adjusted pretax earnings that topped...
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LSE profit declines 40% as equity trading weakens
Market Watch (Free subscription) | 11/25/2009
LONDON (MarketWatch) -- The London Stock Exchange said Wednesday that its fiscal first-half net profit fell 40% to 49.3 million pounds, hit by lower income from equity trading as well as costs related to staff cuts and an acquisition. The group said revenue for the six months to Sept. 30 fell 9.2% to 310.9 million pounds. The exchange operator said the average daily U.K. equity value traded declined...
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LSE public censure for ERT over placing
Financial Times (Free subscription) | 11/23/2009
Environmental Recycling Technologies, the plastic materials company, has been publicly censured by the London Stock Exchange for misleading investors by raising cash and then not using it as planned
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Gartmore Plans IPO
Law Blog - WSJ.com (Free subscription) | 11/20/2009
The U.K. fund manager said it plans to list on the London Stock Exchange, heading a widely expected wave of initial public offerings of businesses owned by private-equity companies.
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Gartmore Group to list shares in London
Market Watch (Free subscription) | 11/20/2009
LONDON (MarketWatch) -- Asset manager Gartmore Group said Friday that it intends to list its shares on the London Stock Exchange. The company will undertake an initial public offering of shares and will use the proceeds to cut its debt to around 150 million pounds ($249.7 million). Gartmore, which had 21.8 billion pounds (36.3 billion) of assets under management at Sep. 30, believes that the offering...
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European shares pull back after gains
Market Watch (Free subscription) | 11/17/2009
LONDON (MarketWatch) -- European shares pulled back on Tuesday after rising for four straight days, with commodity-sector shares paring some recent gains as metal and oil futures weakened. Selected financial firms were on the rise, with Fortis shares up 2% after it posted a quarterly profit and Icap shares up 1.1% after it said its fiscal-year profit will meet analyst forecasts. The U.K. FTSE 100...
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Cable & Wireless sees demerger by March 31
Market Watch (Free subscription) | 11/17/2009
LONDON (MarketWatch) -- Telecom group Cable & Wireless said Tuesday that it expects the demerger of its Worldwide business to complete by March 31, a move that will create two companies separately listed on the London Stock Exchange. The firm said that, after the demerger, Richard Lapthorne will be chairman and Tony Rice will be CEO of CWI and John Pluthero will be chairman and Jim Marsh will...
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Can ETCs Replicate the Carry Trade?
SeekingAlpha ETFs (Free subscription) | 11/16/2009
Felix Salmon submits: Now I’m confused. Back on November 6, the FT’s Denise Law ran an article about a set of new currency ETCs which are going to be listed on the London stock exchange — think ETFs, but for foreign exchange. She quoted Nik Bienkowski, the chief operating officer at ETF Securities, which has created these instruments: “The benefit of a currency ETC is that...
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Derek Pain: AIM faces a hard slog to recapture past glories
The Independent (Free subscription) | 11/14/2009
The upper echelons of the London Stock Exchange may be enjoying a surprisingly rewarding time, but the junior end of the investment site continues to look rather desolate.
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European shares move mildly lower
Market Watch (Free subscription) | 11/13/2009
LONDON (MarketWatch) -- European shares were mildly lower on Friday, with Volkswagen shares down 1.2% after Porsche , down 0.7%, posted a pretax loss late Thursday. Miners were also weak with Rio Tinto shares down 1.1%. Still, KBC rose 5% and Dexia gained 1.1% in the banking sector after reporting results and British Airways extended gains from the previous session, up 4.6%, after it agreed to combine...
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European shares pull back after ZEW
Market Watch (Free subscription) | 11/10/2009
LONDON (MarketWatch) -- European shares pulled back on Tuesday after a weaker-than-expected reading from the German ZEW index of economic sentiment. Stocks traded in a tight range as investors bought shares in HSBC Holdings but sold out of Vodafone Group and Barclays after all three firms updated investors on Tuesday. The U.K. FTSE 100 index rose 0.1% to 5,240.99, the German DAX index traded flat...
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European shares in tight range
Market Watch (Free subscription) | 11/10/2009
LONDON (MarketWatch) -- European shares were in a tight range on Tuesday, as investors took a break after pushing shares sharply higher in the previous session and eyed results from Vodafone Group , down 1.4%, Sodexho , down 6%, and Barclays , down 1.7%. The U.K. FTSE 100 index rose 0.2% to 5,245.59, the German DAX index climbed 0.1% to 5,625.86 and the French CAC-40 index traded flat at 3,784.35....
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10 High-Paying European Dividend Stocks
SeekingAlpha.com (Free subscription) | 11/09/2009
David Hunkar submits: European companies generally pay higher dividends than American companies. Most companies have maintained that tradition during the past two years when the global financial crisis ravaged world markets. Many European banks have reduced or suspended their dividends due to government bailouts and the subsequent ownership stakes they acquired. Because of their high dividend yields,...
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LSE: Equity trades up 8% in October
Market Watch (Free subscription) | 11/09/2009
LONDON (MarketWatch) -- The London Stock Exchange Group said equity trades rose 8% in October to 19.7 million trades, helped by strong growth in exchange-traded funds, fixed income and derivatives. U.K. cash equities value was up 7% while value of Italian equity trades was flat. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more...