UK Indexes Higher; Carnival, BlueBay Rally

123jump.com Staff
24 Feb, 2010
New York City

UK indexes closed higher. Royal Bank of Scotland plans to award

[R]7:00 PM London, 2:00 AM New York – UK indexes closed higher. Royal Bank of Scotland plans to award £1.03 billion in 2009 bonus to employees. Carnival gained after cruise bookings are ahead of management expectations. BlueBay Asset Management reported first half net more than quadrupled.[/R]

UK stocks edged up after a rally in the U.S. and European markets. Fed Chairman Bernanke said interest rates will remain low but high unemployment is worrisome.

In London FTSE 100 Index closed higher 27.83 or 0.52% to 5,342.92 and the pound edged higher to close at $1.543 and closed at €1.137.

European markets closed higher on stronger earnings and better than expected new industrial orders in December.

Carnival, Blue Asset Management and Henderson Plc gained in trading.

Royal Bank of Scotland plans to distribute £1.3 billion in bonuses in 2009 to its employees according to several media reports. UK government controls 84% of the Edinburgh based lender.

Gainers & Losers

A & J Mucklow Group plc closed unchanged at 291.75 pence after the property group said first-half revenues rose 22% to £10.3 million from £8.46 million a year ago. Net profit for the first-half was £18.8 million or 31.29 pence per diluted share compared to net loss of £38.8 million or 64.75 pence per share a year ago.

Barratt Developments Plc declined 1.5% to 119.90 pence after the homebuilding company said first-half revenues fell 31% to £872.4 million from £1.26 billion a year ago. Net loss for the first-half was £127.4 million or 18.9 pence per diluted share compared to net loss of £425.8 million or 80.9 pence per share a year ago.

BHP Billiton plc decreased 0.6% to 1,986.00 after the mining giant board today announced that Don Argus will retire as Chairman and a Non-executive Director on March 30 and non-executive director, Jac Nasser will succeed.

Blacks Leisure Group plc fell 2.1% to 52.33 pence after the company plans to raise £22.0 million through the sale of 40.74 million new shares at 54 pence each.

BlueBay Asset Management soared 4.4% to 371 pence after fixed income money manager said first half income surged to £19.7 million.

Carnival Plc increased 3.5% to 2,429 pence after the cruise operator said travel bookings are at “unprecedented” levels and will increase prices for all departures between June and August.

Debenhams Plc declined 0.4% to 63.40 pence and Finance Director Chris Woodhouse told Bloomberg News in an interview that the retailer may acquire more chains in Europe to complement slow growth in the domestic UK market.

Galliford Try plc rose 0.1% to 327.00 pence after the home builder said first-half revenues fell 26.4% to £570 million from £774 million a year ago. Net profit for the first-half was £2.0 million or 3.0 pence per diluted share compared to net loss of £26.3 million or 51.0 pence per share a year ago.

Henderson Group Plc rose 1.3% to 121.20 pence after the fund manager said total assets under management at the end of 2009 were £58.1 billion, increased 17% or £8.6 billion from the previous year.

But average assets under management in fiscal year 2009 were 1% below that in fiscal year 2008.

Huntsworth Plc rose 0.7% to 64.00 pence after the public relations group said full year revenues fell 2% to £156.3 million from £159.1 million a year ago. Net loss for the year was £8.65 million or 4.2 pence per diluted share compared to net profit of £9.78 million or 4.7 pence per share a year ago.

Logica Plc dropped 3.5% to 118.20 pence after information technology and business services company said full year revenues rose 3% to £3.70 billion from £3.59 billion a year ago. Net profit for the year rose 3% to £40.1 million or 2.5 pence per diluted share compared to net profit of £38.7 million or 2.6 pence per share a year ago.

Kier Group plc rose 0.3% to 1,003.00 pence after the construction company said first-half revenues fell 9% to £989.7 million from £1.09 billion a year ago. Net profit for the first-half fell 65% to £7.4 million or 20.0 pence per diluted share compared to net profit of £21.3 million or 58.5 pence per share a year ago.

Moneysupermarket.com Group PLC gained 4.4% to 72.60 pence after the price comparison website announced trading was slow in early January, but significantly picked up in February. The company estimated 26% decline in full year operating earnings.

New Britain Palm Oil Limited closed unchanged at 450.00 pence after the oil producer said full year revenues fell 8% to $323.8 million from $352.2 million a year ago. Net profit for the year rose 551% to $138 million or $0.95 per diluted share compared to net profit of $21.2 million or $0.15 per share a year ago.

Rathbone Brothers plc fell 0.7% to 816.50 pence after the provider of investment and wealth management services said year Net interest income fell 40% to £18.5 million from £31 million a year ago. Net profit for the year rose 3% to £19.6 million or 45.53 pence per diluted share compared to net profit of £19 million or 44.09 pence per share a year ago.

Reckitt Benckiser Group Plc after the Anglo-Dutch household goods firm dropped 1.8% to 3,416.00 pence.

St. James''s Place plc fell 1.7% to 255.40 pence after the financial services company announces operating profit of £228.9 million from £204.3 million.

Talvivaara Mining Company Plc fell 3.6% to 368.70 pence after the nickel and zinc miner said Zinc streaming agreement with Nyrstar NV for 1.25 million tons of zinc in concentrate was completed on February 11 with the initial purchase price of $335 million.

Town Centre Securities PLC rose 4.5% to 160.00 pence after the property investment and Development Company said first-half revenues fell 25% to £9.0 million from £12.0 million a year ago. Net profit for the first-half was £31.5 million or 59.3 pence per diluted share compared to net loss of £72.9 million or 137.4 pence per share a year ago.

Travis Perkins plc fell 5.8% to 707.00 pence after the builder merchant and home improvement retailer said full year revenues fell 8% to £2.93 billion from £3.18 billion a year ago. Net profit for the year rose 54% to £157.4 million or 86.2 pence per diluted share compared to net profit of £101.9 million or 67.8 pence per share a year ago.

The retailer did not reinstate dividend to shareholders.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 64 increased, 35 declined and 3 were unchanged.

Wolseley Plc decliners in the FTSE 100 index with a loss of 3.13% followed by losses in Johnson Matthey Plc of 1.83%, in Reckitt Benckiser Group Plc of 1.52%, in Land Securities Group Plc of 1.24%, and in Thomas Cook Group Plc of 1.21%.

Carnival Plc led gainers in the FTSE 100 index with a rise of 3.54% followed by increase in Lloyds Banking Group Plc of 3.40%, in HSBC Holdings Plc of 2.46%, in Rolls-Royce Group Plc of 2.09%, and in The Sage Group Plc of 1.92%.