Footsie ends week on a high note
Oct 27 2007 by Graeme King, The Journal
THE FTSE 100 index ended the week in positive territory, up 85 points to close at 6661.3. The largest gainer was Kingfisher, up 7.05% and the biggest faller was Sainsbury, down 3.17%.
Go-Ahead Group, where we act as joint broker, ended the week up 0.6% following Q1 figures released on Thursday. The chairman of the Newcastle-based transport company, Sir Patrick Brown, said that there were strong financial performances from almost all of its bus divisions.
At Southern and Southeastern, the rail division of Go-Ahead, there was a 12.7% increase in passenger income compared to the same period last year. In addition, there was positive news from the aviation services division, which reported that initial transition issues involving the ground handling contract with British Airways had been resolved.
At the AGM on Thursday, shareholders approved the Group’s plans to buy back its own shares in the future.
It was announced yesterday that the UK Department of Health has recommended routine use of cervical cancer vaccination.
This is potentially good news for GlaxoSmithKline as it is one of the only two companies that hold a licence for the vaccine.
It is thought that the prevention of human papilloma virus, the cause of cervical cancer, will potentially save around four hundred lives per year. Alan Johnson, the Minister for Health, said “prevention is always better than cure”.
Elsewhere, Northern Rock continues to be in the limelight following rumours that Private Equity Group, JC Flowers is considering a bid for the company. Some sources reported that the Bank of England has lent the Newcastle-based mortgage lender £21bn so far.
The region’s winner was Angel Biotechnology, up 5% and the loser was Romag Holdings – where we act as broker – which was down 2.83%.
Ken Oiwa is a trainee investment adviser of the Wise Speke division of Brewin Dolphin Ltd.
