Services PMI rockets to 62.5 – its highest for 16 years November 5, 2013 The UK's services industry has seen a huge boost, with services PMI for October flying past expectations at 62.5 – the highest rise in activity since May 1997. Expectations were 60.4, from September's 60.3. The sharp rise was supported by a strong increase in new work, with backlogs of work and employment both increasing markedly. [...]
Flybe chairman quits as airline undergoes restructuring November 5, 2013 The English-based airline Flybe has said this morning that its chairman Jim French will be replaced by Simon Laffin, after 23 years with the company. French leaves as the company undergoes a strategic review to restore profitability. (Release) Laffin, who is currently a director of Quintain and the former finance director at Safeway, will replace [...]
Shake up at Imperial Tobacco as chairman steps down November 5, 2013 Imperial Tobacco Group has announced that non-executive chairman, Iain Napier, will retire on 5 February 2014. Mark Williamson currently the deputy chairman and senior independent director will be his replacement. Non-executive director, Michael Herlihy, said: Mark's extensive experience has been a great asset to the Group since he became a Non-Executive Director in 2007 and [...]
Primark profits surge as AB Foods reports strong growth November 5, 2013 Associated British Foods (ABF) has reported adjusted profit before tax of over £1bn, up 13 per cent for the financial year to 14 September. Primark, the retail arm of the group, had a particularly strong year, increasing profit by 44 per cent and added 10 per cent to its estate. (Release) Primark's total sales rose [...]
G4S to cut jobs but says it will cooperate with fraud squad November 5, 2013 G4S has reported a 6.4 per cent growth in revenues over the nine months to 30 September – excluding the Olympics contract that went pear-shaped. It also said it will cooperate in a Serious Fraud Office (SFO) investigation. Shares have opened down on the news. (Release) The security company's chief executive has subsequently said this [...]
M&S sales continue to fall as Bolland has to hope for tenth time lucky November 5, 2013 Marks and Spencer has said this morning that its transformation is on track, although profits were 8.9 per cent lower at £261.1m during the six months to the end of September – the company's ninth reported loss. (Release) Analysts had predicted a 12 per cent decline in profits for the first half of the year, [...]
What you need to know before the open – 05/11 November 5, 2013 We should see another positive start this morning after the Fed's James Bullard did very little to raise expectations of an imminent taper for the US yesterday. Cable $1.5968, €/$1.3498, $/¥98.43 – Gold – $1315.33 – Nymex -$94.73, Brent $106.38 – European opening calls – FTSE +17, DAX +10, CAC +5 — David Buik (@truemagic68) [...]
M&S’s new ad campaign will struggle to reverse slumping fashion sales November 5, 2013 YOU CAN visualise the meeting at Marks & Spencer’s headquarters when its new campaign, advertising its make-or-break Autumn collection, was finalised. An ad agency suggests the idea of female empowerment and the boardroom battleground. Any actual brand idea is forgotten, as the rolodex spins and agents are called. Actress Helen Mirren, artist Tracey Emin, author [...]
How to employ market volatility indicators to build a trading strategy November 4, 2013 FOR LESS experienced forex traders, the correlation between volatility and market prices – and how this relationship can be used to help build trading strategies – can prove elusive. Volatility expresses the degree of price change over a given time period. And one of the more common means of measuring market price volatility is the [...]
Deflation fear prompts Eurozone rate cut talk November 4, 2013 But a single data point is unlikely to convince the ECB that immediate loosening is necessary European shares traded close to five-year highs yesterday amid speculation that the European Central Bank (ECB) will cut its policy rate on Thursday. The FTSEurofirst 300 Index rose above 1,296, a near 6 per cent increase from Friday’s levels. [...]