BUSINESS

Shares in British banks were broadly down on the FTSE 100 in morning trading as the Office for National Statistics reported a surprise contraction in GDP during the fourth quarter of 2010.

Shares in De La Rue were down on the FTSE 250 in morning trading after French firm Oberthur said it would not be making a takeover bid for the bank noted printer.

Shares in De La Rue were down on the FTSE 250 in afternoon trading, despite reports that French firm Oberthur is considering enhancing its takeover offer for the banknote printer.

Shares in Misys were down on the FTSE 250 in afternoon trading, ahead of the financial services software company's half year results, expected tomorrow.

Shares in British banks were broadly down on the FTSE 100 in morning trading as concerns about the eurozone came back to the fore, as did worries about banking reform.

Royal Philips Electronics has reported a strong rise in net income in the fourth quarter of 2010. Net income reached 465 million euros in the period, up 205 million euros from the same quarter in 2009.

With flagging economies and worries about austerity measures further crimping growth, about the last thing central bankers from the U.K. and Europe need to consider is combating inflation. But that is exactly what is being heaped upon decision-makers at the moment.

Shares in Mouchel were soaring on the FTSE All Share after the outsourcing company was presented with a beefed up takeover offer from construction firm Costain.

Shares in British banks were broadly up on the FTSE 100 in morning trading following reports that part nationalised bank RBS may be leaving the government's asset protection scheme earlier than expected.

Shares in Mulberry were up on the FTSE AIM 100 after the maker of luxury handbags reported a strong rise in sales in the six weeks to the 15 January 2011.

Shares in Invensys were down on the FTSE 100 in afternoon trading after the technology company issued an unremarkable statement on its trading for the third quarter period ended 31 December 2010.

Shares in easyJet were down on the FTSE 250 in morning trading, despite the budget airline reporting a rise in revenue in the quarter ended 31 December 2010.

Shares in British banks were broadly up on the FTSE 100 in morning trading despite a fall in fourth quarter profits at global banking giant Goldman Sachs.

Shares in Associated British Foods were down on the FTSE 100 in morning trading, despite the group reporting double digit sales growth in the 16 weeks to 8 January 2011.

Aluminum Corp of China (Chinalco) will set up a joint venture with a local company to develop rare earths in the southern Chinese province of Guangxi, the China Securities Journal reported on Thursday.

Shares in Associated British Foods were up on the FTSE 100 in afternoon trading ahead of the group's first quarter trading statement, due tomorrow.

Shares in Kesa Electricals were down on the FTSE 250 in morning trading after the group reported a fall in sales at its Comet stores in the third quarter ended 18 January.

Shares in British banks were broadly down on the FTSE 100 in morning trading following strong gains yesterday.

Shares in JD Wetherspoon were up on the FTSE 250 in morning trading after the pub chain owner reported a rise in sales in the 12 weeks to 16 January.

Shares in RBS were up on the FTSE 100 in afternoon trading after the part-nationalised bank said it would be selling Priory Group for £925 million.

Shares in Taylor Wimpey were up on the FTSE 250 in afternoon trading after the housebuilder said that its underlying pre-tax profit for the full year will be "ahead of expectations" and that it had seen interest from potential buyers in its North American business.

Shares in SABMiller were up on the FTSE 100 in morning trading after the brewer reported a rise in revenue and lager volumes in the third quarter ended 31 December.

Shares in British banks were up on the FTSE 100 in morning trading as investors started to regain some confidence.

Shares in Burberry were up on the FTSE 100 in morning trading after the luxury fashion retailer strong double digit profit growth in the third quarter ended 31 December.

Shares in Burberry were up on the FTSE 100 in afternoon trading ahead of the luxury fashion retailer's third quarter results, due tomorrow.

Aircraft manufacturer Airbus has said that it increased its production output for the ninth year running in 2010, delivering a record 510 aircraft to 94 customers.

Shares in British banks were down on the FTSE 100 in morning trading as investors continued seeking profits.

Shares in BP were up on the FTSE 100 in morning trading after the energy giant said it had been awarded four deepwater offshore blocks near the coast of southern Austalia.

The daisy chain of events manifesting from the European fiscal crisis that initially consumed Greece then Ireland in its wake has skipped into Portugal. This is not being greeted by market participants as much of a surprise since this development had been foreshadowed for months. Portuguese bond yields had risen above 7%, roughly 4% higher than the benchmark 10-year German bund. This is the inglorious territory of Greek and Irish bond yields just as they were teetering on fiscal insolvency. ...