Bradford & Bingley's (BB.) in the news today as it apparently
wants to buy assets from Northern Rock (NRK), whose
ratings have been reiterated by S&P. Aquarius Platinum (AQP) have an
employee strike on their hands in South Africa. Sports Direct (SPD or 'speed' as we call it here) has announced interim results. Revenue is down because of the weather and England playing badly,
underlying profit is £52m which is above the £40m that's been rumoured. A lot of the headline numbers look bad as expected but the international business seems to have earnings growth.
In the mid-caps, oil services company John Wood Group (WG.) says earnings will be
above expectations. Cantor are calling it higher, as they are with Cobham (COB), who are making
positive noises while complaining about 'currency headwinds'. Wolfson Microelectronic's (WLF) chairman has bought shares worth £194,000. Moneysupermarket.com (MONY) are trading
in line with expectations. Pace PIC has been approached about a reverse takeover - not BSkyB spinning out Amstrad already surely? :-)
BP. has been
downgraded to neutral from overweight by JP Morgan. S&P have cut Kingfisher's (KGF) ratings outlook
to negative. HBOS has been downgraded to neutral from buy at Goldman Sachs, who have also downgraded Barclays (BARC) to sell from neutral. WH Smith (SMWH) has been upgraded to buy from neutral by UBS, Intercontinental Hotels downgraded to equal-weight from overweight by Morgan Stanley.
FTSE is currently being called up 21 at 6300 by CMC. Dow futures are up 6 at 13,238.