London-listed vodka producer Stock Spirits’ profits up despite shareholder scuffle and challenges in Polish market March 8, 2017 London-listed Polish vodka producer Stock Spirits' net profits have soared despite challenges in its Polish market and attacks from an activist investor. The figures Stock Spirits's net profits have soared 46.4 per cent to €28.4m (£24.6m). However, net sales were down 0.6 per cent to €261m (£226m) from €262.6m a year before. The drinks giant has acquired three alcohol [...]
Property fund Pradera, backed by UK private wealth partnership LJ Partnership, buys 25 Ikea retail parks across Europe in €900m deal March 8, 2017 A retail property fund and asset manager has agreed a €900m (£780m) deal for 25 Ikea retail parks across Europe. Pradera, which is backed by UK-based private wealth partnership LJ Partnership, is buying centres in eight countries across the continent as part of the deal. The retail parks, situated next to Ikea stores, comprise around 500 [...]
Adidas’ share price is fighting fit after German retailer ups its income guidance March 8, 2017 Adidas' share price has jumped over seven per cent in morning trading after the company posted income growth over the €1bn (£870m) mark and increased its income guidance. The figures In Western Europe, Adidas' biggest market, sales increased by 17 per cent in 2016, growing to €5.29bn from €4.54bn the year before. Net income for the group jumped 51.2 [...]
EDF’s share price has tumbled to an all-time low after it launched a €4bn capital raising March 8, 2017 EDF's shares tumbled to an all-time low today after the French state-owned utility firm launched a €4bn (£3.5bn) capital raising to support investment programmes like the UK's Hinkley Point nuclear project. As previously announced, the French government is set to contribute €3bn, and EDF is seeking to sell another €1bn of new shares into equity markets to finance the utility's development for [...]
Airlines including EasyJet and Ryanair forced to cancel more than 800 flights due to French air traffic controllers’ strike March 8, 2017 Over 800 flights have now been cancelled across Europe for the first two days of the French air traffic control strike, with airlines also noting severe delays and detours of flights. Staff at control centres at Brest, Bordeaux and Marseilles are holding a five-day walkout, which Airlines For Europe said will result in over 1,000 flights [...]
Chinese economy: China runs unexpected trade deficit for first time in three years as imports surge March 8, 2017 China recorded its first trade deficit in three years in February as imports in the world’s second largest economy surged. The balance of trade moved into a $9.15bn deficit during the month, according to China’s General Administration of Customs. Dollar-denominated imports jumped by almost 40 per cent year-on-year, to reach $129bn, more than doubling the [...]
Marine Le Pen could win the French election: Markets need to expect the unexpected March 8, 2017 If there's one thing markets have had to come to terms with in recent years, it’s that assumption breeds complacency. Such is the case with the upcoming elections in France: investors should have hawk eyes focused eyes on The Republic. With the yield spread between French and German 10-year government bonds touching their highest level [...]
Iceland will be the first country to make its firms obtain certification to prove they offer equal pay March 8, 2017 Iceland has become the first country to make companies obtain certification to prove they offer equal pay, regardless of gender, ethnicity, sexuality and nationality. The Equal Pay Standard, on which the certification requirements are based, assesses a firm's pay policies, classification of jobs according to equal value and wage research on the basis of classification, as [...]
CMC Markets shares leap on Down Under deal to make it Australia’s second largest stockbroker March 8, 2017 London-based CMC Markets has announced a new partnership Down Under to make it the second largest stockbroker in Australia. The spreadbetting group will service more than 500,000 retail stockbroking clients of the Australia and New Zealand Banking Group (ANZ) when the deal is completed. Gross revenue from CMC’s stockbroking business is expected to increase by [...]
LIVE: Budget 2017 – reaction to chancellor Philip Hammond’s speech March 8, 2017 Live coverage of Philip Hammond's first (and last) Spring Budget, with measures expected on Stamp Duty, T-levels, business rates, national insurance and fuel duty.