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UK city news : Go-Ahead, Hays, Lloyds Banking Group, Manchester United

01/09/2011 by about : Stockmarket Reports - 0 Comments - 219 words

After two days of gains the UK stock market was back in negative territory this morning with UK manufacturers reported falling demand in exports. FTSE 100 was down 0.52% at mid-day.

The stock market was also not helped by news that the BCC - British Chambers of Commerce BCC has cut the UK growth forecasts for 2011 and also for 2012.

Miners were underpressure with Fresnillo, Randgold Resources and Lonmin amongst earlier fallers.

RBS, Barclays and Lloyds Banking Group all continue to enjoy buyer interest following reports that proposed retail and investment banking reforms will be delayed until 2015.

Manchester United has return to profit figure as the club reported £29.7m in the 12 months after a loss the previous year as revenues rose to £331m from 286m. The figures are ahead of the clubs proposed IPO in Singapore to raise over £600m.

In other reports today, The Restaurant Group, achieved an 8% increase in profit as company confirmed that it remains confident of good progress in 2011.

Recruiter firm Hays reported strong growth in profits up 18% over 2010 at £672.1m from £557.7m while train and bus group Go-Ahead reported that a fall in revenue within London had been offset by a 6% improvement outside London.


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