Arab Today, arab today london stocks higher in quiet trade
Last Updated : GMT 20:01:28
Arab Today, arab today
Arab Today, arab today

London stocks higher in quiet trade

Arab Today, arab today

Arab Today, arab today London stocks higher in quiet trade

London - AFP

Britain\'s stock market drifted higher on Tuesday as investors digested a barrage of company results in subdued trade as most European markets were closed for the May Day public holiday. London\'s FTSE 100 index of top companies gained 0.22 percent to 5,750.33 points in midday deals. In foreign exchange trade, the European single currency rose to $1.3261 from $1.3240 in New York late Monday. Sterling meanwhile retreated to $1.6202, while gaining some ground against the euro. \"May starts on a quiet (note) as almost all markets in Europe are closed due to the May Day so volume should be very light,\" said trader Anita Paluch at Gekko Global Markets. With much of Europe closed for business, London investors absorbed results from British energy giant BP, state-rescued bank Lloyds, cigarette maker Imperial Tobacco and hedge fund manager Man Group. \"There\'s a lot of corporate news for investors to digest ... and the FTSE has (edged) into positive territory,\" said analyst Andrew Crook of Sucden Financial Private Clients. Shares in Lloyds Banking Group (LBG) rallied 4.64 percent to 32.45 pence, topping the FTSE leaderboard, after the lender announced a return to net profit in the first quarter. The bank, which is 40-percent owned by the government, said that cost cutting and lower bad debts had offset rising compensation claims. Profit after tax stood at £10 million ($16 million, 12 million euros) in the first three months of 2012 as LBG set aside another £375 million to compensate clients who were mis-sold insurance. The slender profit contrasted with a huge net loss of £2.43 billion in the first quarter of 2011, when it was hit by far bigger compensation claims. Imperial Tobacco shares meanwhile jumped 2.68 percent to 2,530 pence as investors welcomed the group\'s upbeat outlook and shrugged off news of an 11-percent decline in net profit to £826 million in the six months to March. On the downside, BP fell 3.07 percent to 431.37 pence after it reported net profits sank 18 percent in the first quarter, as output was hit by the sale of assets to meet its huge Gulf of Mexico disaster costs. Profit after tax fell to $5.92 billion (4.46 billion euros) from $7.25 billion in the 2011 first quarter. Man Group tumbled 5.99 percent to 97.29 pence after the hedge fund manger said funds under management slumped almost 15 percent to $59 million by the end of the first quarter. The company added that improved investor sentiment, seen at the start of the year, had begun to reverse in March. Europe\'s main equity markets began the week on the back foot on Monday after official data confirmed that Spain was back in recession, while Standard & Poor\'s slapped a downgrade on leading Spanish banks. Spain\'s economy shrank by 0.3 percent in the first quarter, the same rate as in the last three months of 2011. A recession is defined as two successive quarters of shrinking economic output.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today london stocks higher in quiet trade Arab Today, arab today london stocks higher in quiet trade

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Russia, China veto UN resolution

GMT 07:27 2017 Wednesday ,01 March

Russia, China veto UN resolution
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday