Stock market report at 11:00 : United Utilities Group, British Airways, United Business Media share price update
Stock market report at 11:00 : United Utilities Group, British Airways, United Business Media share price update
2010/07/30 by ukcitymedia.co.uk about : Stockmarket Reports - 0 Comments - 247 words
The market has endured a slippery morning this morning, and is currently down 0.44% at 5,290 points back below the 5,300 level it’s passed in the last couple of days. Most companies have taken a drop in their stock prices although a few bright notes can still be found if you look hard enough. British Airways, along with the majority of utilities companies including United Utilities Group, have seen some profit for their shares while United Business Media is leading the charge down.
Despite the obvious problems it has faced this year, including the volcanic ash cloud and the ongoing strike action, British Airways has said that it still expects to break even for the year. BA has seen passenger capacity drop, revenues drop, and losses increase but has also said that foreign exchange movements are partially to blame for its higher losses. BA shares are up 2.64% to 221.70p.
Utility companies have also enjoyed some cheer. The sale of EDF electricity grid operations to a major consortium has seen investors ploughing their cash into related companies in the hope of a similar acquisition. United Utilities Group lead the way, up 3.29% to 579.50p followed closely by Severn Trent up 2.42% to 1,311.00p and National Grid up 1.76% at 519.50p.
One of the biggest losses this morning has been experienced by United Business Media. They reported a drop in profit while revenue remained fairly stable unlike their share prices which fell 4.89% to 545.00p.
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