Thomas Cook’s summer bookings leave Numis upbeat March 27, 2014 Thomas Cook’s said today that, while growth’s on track, continued unrest in Egypt made winter trading difficult, describing performance as satisfactory. But Numis has stressed that the interim management statement reads well, and it’s expecting it to fuel “good short-term momentum” in shares. The travel provider saw 93 per cent of its winter season booked, [...]
Capital raised on London Stock Exchange rockets by 91pc March 27, 2014 The London Stock Exchange (LSE) has seen the amount of money raised on its markets rocket by 91 per cent to £28bn for the 11 months to February 2014. The rise provides yet more evidence of London's flotation flurry. New issues climbed from 107 to 109 for the period. Derivatives trading volumes also jumped by [...]
H&M sees sales jump 12pc in March March 27, 2014 High street favourite H&M has said this morning that pre-tax profit rose eight per cent in the first quarter of this year from a year ago. The Swedish company saw sales go up 12 per cent this month – it’s already reported revenues up 13 per cent year-on-year in the first quarter. Expansion work will [...]
What you need to know before the open March 27, 2014 A lower open’s expected for European markets this morning, following the slightly surprising selloff seen in US markets yesterday. It’s unclear quite how the selloff came about, but President Obama’s criticisms of Russia’s actions in Crimea probably didn’t help. Meanwhile, weak underlying durable goods numbers yesterday point to still-listless demand on the US consumer front. [...]
Babcock bags helicopter provider Avincis March 27, 2014 UK engineering group Babcock International has said this morning that it’s agreed to buy Avincis, which provides search and rescue helicopters. Babcock says the move will bolster future growth, with Avincis a “clear strategic fit” for it. The conditional agreement to pay £920m to buy Avincis from World Helicopters also sees Babcock assume Avincis’s net debt [...]
Ofgem confirms full energy market investigation March 27, 2014 British households may be paying too much for energy, according to regulator Ofgem. The energy sector has been referred to the Competition and Markets Authority (CMA). The investigation could take between 18 and 24 months. Ofgem proposed that the CMA investigate the market to consider "once and for all" whether there are barriers to effective [...]
Any Other Business – 27/03 March 27, 2014 ZUCK’S had his wallet out again. Despite telling us he wouldn’t be buying any more companies for a while after Whatsapp, Facebook’s gone and splurged out on Oculus Rift, a virtual-reality headset company. Not only has the $2bn purchase wreaked havoc on Mark Zuckerberg’s company card, it’s also caused a bit of a kerfuffle for [...]
Asian markets rise as Ukraine rhetoric heats up March 27, 2014 Asian markets are experiencing a mild rise despite promises from the EU and the US to cooperate on preparing further sanctions against Russia in response to the crisis in Ukraine. Yesterday President Obama declared that "Russia stands alone" on the world stage and that it's actions must be "met with condemnation." Japanese markets are flat [...]
King’s shares crushed on first day trading March 26, 2014 Candy Crush maker’s shares slump 15.6 per cent in first day of New York trading KING, the British game developer behind hit mobile game Candy Crush Saga, was bloodied yesterday during its debut on the New York Stock Exchange, with nearly $1bn (£600m) wiped off its market valuation. Shares in King, which had been priced [...]
Fed blow to Citi as five banks fail stress tests March 26, 2014 THE FEDERAL Reserve last night rejected plans by Citigroup and the US subsidiaries of HSBC, Royal Bank of Scotland and Santander to buy back shares or raise dividends. The Fed said that there were “qualitative concerns” over the five US banks’ capital plans, warning they would not allow them to survive in the event of [...]