|
CFD Traders DiaryGenerally positive corporate news spurs Footsie to early rise27/3/2008 For a change the macroeconomic worries have been forgotten as traders concentrate on a raft of company results this morning, and overall the figures have been pretty good, with the FTSE 100 index up 53 points mid-morning. Amongst the leaders is Compass Group, where there was an element of reassurance with trading in the first five months of the year ahead of expectations. It sees operating profit rising by £6m, benefiting from the favourable currency movements, and the shares are up 4%, which puts them back into the recent trading range.
There were some concerns over what Man Group might say today in view of the problems of the wider fund industry, but once again the statement was very solid. It said that pre-tax profits for the year to March would be ahead of consensus market expectations, and here the shares have continued to rally after the mauling of last week, although the sector is still somewhat shaky overall. One stock that has struggled to make any headway recently is Kingfisher, and the shares were all over the place today after the group saw full year its adjusted profit before tax fall 2.8%. It confirmed as expected that the internal background and the external economic environment had prompted it to halve the final dividend, and it looks a rocky road ahead with the shares still not far off multi-year lows. |
|
|
