A&L profits from lending share boost

Article Abstract:

The Alliance & Leicester (A&L) has announced that it increased it has seen its share of the mortgage market rise since it converted to a bank. The A&L became a bank in April 1997, and in the first half of 1998 it has seen its share of net lending rise from 4.5% to 5.5%. The bank's success is being attributed to the fact that it began to trade heavily in fixed-interest mortgages, which accounted for 66% of its loans extended in the first half of 1998. There was also a rise in interest income due to raised interest rates, as well as a rise in unsecured lending via the personal finance arm of the bank. headline profits at the bank rose by 29% to GB 230mn, figures which seem to suggest that the smaller building society conversions are faring much better than their larger counterparts are. The A&L is now looking to make acquisitions to further enhance its market share.

Comment:

Increases share of mortgage market after convertion to bank

Market share, Mortgage Bankers, Real Estate Credit, Mortgage banks, Alliance & Leicester Building Society

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UK: COMPANY SHARE PRICE MOVEMENTS

Article Abstract:

Share price movements have been recorded from the following companies: COMPANY CURRENT SHARE PRICE CHANGE Corus GB[pound] 0.77 GB[pound] 4.75 Marks & Spencer GB[pound] 2.09 GB[pound] 2.14 Boots GB[pound] 5.07 GB[pound] 5.19 Billiton GB[pound] 2.66 GB[pound] 2.53 British American Tobacco GB[pound] 4.44 GB[pound] 4.27 Allied Domeq GB[pound] 3.35 GB[pound] 3.26 Vodafone GB[pound] 2.70 GB[pound] 2.75 BT GB[pound] 8.51 GB[pound] 8.56 Glaxo Wellcome GB[pound] 19.28 GB[pound] 18.93 SmithKline Beecham GB[pound] 8.73 GB[pound] 8.59 AstraZeneca GB[pound] 28.98 GB[pound] 28.96 QXL.com GB[pound] 0.59 GB[pound] 0.63 Cobham GB[pound] 11.34 GB[pound] 11.13 E-district.net GB[pound] 1.12 GB[pound] 1.02 The decline in Corus shares was due to its biggest shareholder, Franklin Resources, selling a large percentage of stock.

Productivity, Marks and Spencer PLC, British Telecommunications PLC, Vodafone Group PLC, AstraZeneca PLC, Glaxo Wellcome PLC, SmithKline Beecham Corp. (Philadelphia, Pennsylvania), British-American Tobacco Company Ltd., Boots Company PLC, Billiton B.V., Cobham, Corus

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Boeing and Airbus to share 5bn BA order

Article Abstract:

British Airways is expected to announce orders totalling GB 5bn for new aircraft at the Farnborough Air Show in September 1998. The order, one of the largest in commercial aviation history, is to be shared between Boeing and Airbus . Airbus is expected to win the contract for up to 100 short-haul jets, worth a total of GB 3bn. The aircraft will be used by BA on its European routes. Boeing is expected to win the contract for up to 30 Boeing 777's that will be used for long-haul services. This order is said to be worth some GB 2bn.

Comment:

Is expected to win contract for up to 30 Boeing 777's, worth some GBP2 bil, from British Airways

Capital expenditures, Contracts & orders received, Scheduled Airlines, Scheduled Air Transportation, Aircraft Manufacturing, Standard Jet, Airlines, British Airways PLC, Boeing Co., Airbus S.A.S., Jet airplanes, 777

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