IEA predicts biggest non-Opec output fall in a quarter century April 21, 2016 The International Energy Agency (IEA) expects non-Opec output to fall this year by the most in 25 years. IEA chief, Faith Birol, added that low oil prices had cut investment by around 40 per cent over the past two years, particularly in the US, Canada, Latin America and Russia. In its medium-term report released earlier this month, the [...]
Starbucks sales growth slips as all regions fall short April 21, 2016 Starbucks shares fell nearly five per cent as the world's largest coffee chain missed expectations for the fiscal second quarter. Starbucks said global sales at cafes open at least 13 months rose six per cent year-on-year in the fiscal second quarter ended 27 March. But this was below analysts' expectations for a figure of 6.7 per cent. The [...]
Visa shares slump as it changes Visa Europe deal April 21, 2016 Visa's shares skidded down nearly five per cent in after market trading after the credit and debit card giant cut its full-year revenue growth forecast. The company now expects full-year revenue to come in between seven to eight per cent, lower than its previous forecast of high single-digits to low-double digits. Read more: Visa's contactless payments soar [...]
Alphabet shares plummet after it misses expectations April 21, 2016 Alphabet shares plummeted around seven per cent in after hours trading following a disappointing set of first quarter results. Google's parent company reported revenue rose 17 per cent to $20.3bn year-on-year in the first three months of 2016, slightly below analysts' expectations for an increase to $20.4bn. Earnings per share came in at $7.5 per share during this [...]
Darty share price soars as bidding war breaks out between Steinhoff’s Conforama and Fnac April 21, 2016 A bidding war has broken out between retailers Fnac and Conforama after both companies raised their offers for the electricals group Darty today in a race to outbid eachother. The stakes were raised last night when Conforama, a French homeware retailer owned by South Africa's Steinhoff, increased its cash offer for shares in Darty to 138p per share. The group also revealed that it [...]
Brick maker Forterra floats on London Stock Exchange with £360m valuation as it seeks to capitalise on growing UK housing market April 21, 2016 The UK's second largest brick maker is making its debut on the London Stock Exchange today as it seeks to take advantage of the UK's growing housing market. The flotation values Forterra at £360m, with the company missing its target of £450m. The initial public offering (IPO) comprises a sale of 70m shares, representing 35 per cent of the [...]
Silver prices are massively outshining gold, after it reached an 11-month high overnight April 21, 2016 It seems all that glitters definitely isn't gold at the moment – investors are increasingly going berserk for silver. After a none-too-impressive end to 2016, the metal has become increasingly sought-after – and last night, it reached an 11-month high. This morning silver was up 1.6 per cent at $17.41 per troy ounce, according to Bloomberg. [...]
At the open: FTSE 100 clinging on, as markets look ahead to European Central Bank (ECB) interest rate and quantitative easing decision April 21, 2016 The FTSE 100 popped, dropped then levelled off this morning, to stand down 0.06 per cent at 6,406 in the first minutes of Thursday trading. Miners started on the up after Brent Crude smashed through the $45 a barrel mark last night and held on this morning to clock in for the day at $45.84 [...]
YouGov poll: Give us better transport links and we’ll move further out, commuters say April 21, 2016 More than half (55 per cent) of commuters would consider moving further away from their place of work if transport links were better according to a poll by YouGov. When asked about the most important factors for choosing where to live 38 per cent said quality of life, 19 per cent said proximity to family and [...]
No party for Barbie as Mattel losses widen April 20, 2016 Toymaker Mattel's losses widened as children continued to grow tired of some of its iconic brands such as Barbie. Mattel posted a loss of $73.2m (£51.1m) in the three months ended 31 March, more than the loss of $58.2m a year earlier. Net sales fell 5.8 per cent to $869.4m during this period, down from $922.7m [...]