This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

U.K. Stocks Rise as Europe Is Quiet on May Day

Stocks in this article: LYG BCS

LONDON ( The Deal) -- U.K. stocks edged higher on Thursday, buoyed by largely positive business updates from FTSE 100 heavy hitters, as markets in most of Europe and Asia were closed for public holidays.

In China, the National Bureau of Statistics Purchasing Managers' Index for April rose to 50.4 from a reading of 50.3, slightly below consensus expectations.

In the U.K., the Nationwide Building Society reported that house prices rose by an annual 10.9% in April, the fastest rate since June 2007.

By mid-morning in London the FTSE 100 was up 0.36% at 6,084.64.

Lloyds Banking Group (LYG) was up more than 4% after reporting a 22% increase in underlying profit to 1.8 billion pounds ($3 billion) and confirming it plans to hold talks in the second half with financial regulators about resuming dividend payments.

Notably, CEO Antonio Horta-Osorio said the bank's priority has shifted from reshaping the lender, which was bailed out by the government in January 2009, toward growth.

British Sky Broadcasting was up almost 4% after announcing third-quarter figures that showed it added 764,000 new paid subscribers and that its 15 million subscribers are on average taking more products from the 21st Century Fox affiliate than a year ago.

Power producer BG Group posted a 13% decline in first-quarter operating profit to $1.97 billion, and repeated a Monday warning that 2014 output would come in at the lower end of guidance because of problems in Egypt. That warning, accompanied by the surprise resignation of CEO Chris Finlayson, has stoked bid speculation this week and on Thursday the stock was up over 2%.

Asset manager Schroders rose after reporting record funds under management.

Lender Barclays (BCS), which is widely expected next week to announce the creation of a bad bank to house troubled assets, also rose after UBS analysts raised their recommendation to buy from neutral.

But industrial companies Rolls-Royce Holdings  and Weir Group, which earlier this month was rebuffed by Finnish takeover target Metso, both fell after reporting trading updates.

In Tokyo, Nomura Holdings closed up 6.3% after an above-forecast quarterly profit report and the announcement of a share buyback.

Musical and audio equipment maker Yamaha  closed up more 11% after announcing strong full-year sales and profit growth, thanks in part to exchange-rate fluctuations, and saying it will pay more in dividends than previously expected.

The Nikkei 225 closed up 1.3% at 14,485.13.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs