Price cut means Enel Green IPO is fully covered October 28, 2010 THE initial public offering (IPO) for Enel Green Power, Europe’s biggest in three years, was more than fully covered late yesterday after the Italian power giant cut the minimum price to attract enough institutional investors. Early yesterday Enel dropped the minimum price for up to 32.5 per cent of Enel Green Power (EGP) to €1.6 [...]
AVON PRODUCTS DISAPPOINTS October 28, 2010 AVON Products, the world’s largest direct seller of beauty products, led by chief executive Andrea Jung (above), yesterday reported lower-than-expected third-quarter profit, as sales fell in North America. Quarterly earnings rose seven per cent to $166.7m (£104.1m), or 38 cents a share, from $156.2m, or 36 cents a share, in the year-earlier period.
Retail sales growth slows October 28, 2010 Retail sales growth eased in October from September’s six-year high, but stayed well above average and at its second-highest level this year, a survey by the Confederation of British Industry showed. The CBI’s monthly distributive trades survey’s reported sales balance dipped to +36 in October from +49 in September, broadly in line with economists’ forecasts [...]
Retail sales growth slows says CBI October 28, 2010 Retail sales growth eased in October from September’s six-year high, but stayed well above average and at its second-highest level this year, a survey by the Confederation of British Industry showed. The CBI’s monthly distributive trades survey’s reported sales balance dipped to +36 in October from +49 in September, broadly in line with economists’ forecasts [...]
Mouchel slumps to full-year loss as austerity measures bite October 28, 2010 Outsourcing and consulting firm Mouchel slumped to a full-year loss and warned of an uncertain outlook due to government austerity measures, wiping more than a quarter off its stock market value. Mouchel, which helps the government maintain highways and provides consultancy to local authorities, had already this month warned its full-year results would not meet [...]
Blacks narrows losses as takeover talks progress October 28, 2010 Outdoor goods retailer Blacks Leisure said takeover talks with several parties continued, first half pre-tax loss narrowed and it suspended its interim dividend. The 317-store company, which runs the Blacks Outdoor and Millets chains, reiterated that preliminary discussions could lead to a bid for all or parts of its business. The company came close to [...]
Santander profit hit by regulation October 28, 2010 The euro zone’s biggest bank Santander said its nine-month net profit fell 9.8 per ent – hurt by provisions taken against Spanish assets as dictated by new Bank of Spain regulations. Net profit for the nine months to the end of September came in at 6.08 billion euros (£5.3bn), missing analysts’ expectations of 6.42 billion [...]
Axa sales rise – but warns over interest rates October 28, 2010 Europe’s second-biggest insurer AXA posted a 3.5 per cent rise in nine-month sales, driven by emerging markets, but warned a decline in interest rates would hurt year-end profitability. European insurers such as AXA and bigger rival Allianz are under threat from falling government bond yields, which have the potential to squeeze earnings below guaranteed returns, [...]
House prices fall for third consecutive month October 28, 2010 House prices fell for the third month in four in October, figures from Nationwide have shown. The average price of a property fell 0.7 per cent this month after a flat reading in September. That was almost twice the drop economists had expected and meant the three-month on three-month rate of decline accelerated to 1.5 [...]
Shell profit surges as oil price rises October 28, 2010 Royal Dutch Shell reported an 18 perc ent jump in third quarter profits thanks to higher oil and gas prices and beat all analysts’ forecasts. Europe’s largest oil company by market value said third quarter current cost of supply (CCS) net income rose to $3.52bn (£2.22bn). Stripping out non-cash charges and one-off items, the result [...]