Early trading was mixed for the Footsie as those companies that reported higher profits rose, while ...
Early trading was mixed for the Footsie as those companies that reported higher profits rose, while others fell on lowered recommendations.
Great Universal Stores Plc and Dairy Crest Plc improved after reports of higher profits. Dairy Crest gained 7p to 298.5. The UK's number one dairy-food company said full-year profit rose 24% on increased sales from the Unigate cheese and milk business it bought last year.
Overall the Footsie dropped 1.2 points to 5855.3, rebounding from an earlier loss of as much as 14.3 points.
Kingfisher Plc was one of the stocks to fall after the retailer said it ended talks to sell its Woolworths, Superdrug and entertainment units. Kingfisher declined 8.5p to 445.
On the Nikkei Japanese stocks fell, led by Sony Corp and other exporters, on concern the yen's two-week, 2.7% gain against the dollar will trim overseas earnings.
Banks rose, helping the Nikkei 225 stock average recover from its first dip below 13,000 in eight weeks, on speculation the government bought stocks to help lenders raise cash and write-off bad debts. The Ministry of Finance declined to comment.
The Nikkei shed 130.35 to 13,182, after earlier falling to its lowest since April 10. The broader Topix fell 0.5% to 1307.55, after dropping as much as 1.6%.
Extended trading in the US saw Converse Technology shares rise after the largest maker of telephone-messaging systems reported fiscal first-quarter profits that topped analyst's forecasts.
The New York based company rose $1.09 to $59.75 after 4pm New York time as about 432,200 shares changed hands, making it one of the most active stocks. Converse shares shed 93 cents to $58.66 during regular trading.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected