Despite negative reactions to trading updates from BHP Billitonand CRH, Footsie has opened on the front foot.
Mining conglomerate BHP Billiton (LON:BLT) is the worst performing blue-chip, as it confirmed plansto spin-off into a separate company what it sees as the less sexy parts of the business: the aluminium, coal, manganese, nickel and silver assets.
Listing the assets as a separate company will generate cash for the company but BHP disappointed the market by saying that it will not use these funds to rebase the dividend; “rebase”, in this context, would mean upping the divi, rather than the more usual case where “rebase” is a euphemism for a dividend cut.
BHP’s shares are down 2.6%.
Building materials group CRH (LON:CRH) is another Footsie constituent on the slide, after its interims failed to excite. The shares shed 0.4% despite a 27% year-on-year gain in underlying earnings (EBITDA).
The earnings outlook statement was a master-class in diffidence. “Assuming normal weather patterns and no major market dislocations, and with the benefit of contributions from acquisitions and cost saving measures, we continue to expect second-half group EBITDA to be somewhat ahead of last year (H2 2013: €1.08 billion)."
FTSE 100 is up 30 at 6,771.
http://www.*.co.uk/companies/market...re-roxi-stellar-diamonds-wood-group-0000.html
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Last
$38.81 |
Change
-0.530(1.35%) |
Mkt cap ! $196.9B |
Open | High | Low | Value | Volume |
$38.65 | $38.86 | $38.46 | $405.6M | 10.48M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 13092 | $38.80 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$38.84 | 500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 13062 | 38.800 |
1 | 77 | 38.780 |
2 | 523 | 38.770 |
1 | 6615 | 38.760 |
4 | 26213 | 38.750 |
Price($) | Vol. | No. |
---|---|---|
38.840 | 500 | 1 |
38.860 | 3000 | 1 |
38.870 | 180 | 1 |
38.900 | 38738 | 7 |
38.920 | 581 | 2 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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