Housebuilder Bovis predicts forecast-beating profits January 18, 2013 Bovis Homes today added to buoyant housebuilder sentiment as it forecast that profit for 2012 would be ahead of market expectations. A 15 per cent increase in legal completions to 2,355 over the year, a five per cent jump in the average sales price to £170,700 and a “significant” increase in profit margins will all [...]
FTSE 100 up as Chinese growth recovers January 18, 2013 The FTSE 100 was firmly up in early deals this morning, as it was lifted by headline natural resources shares on the back of a rebound in Chinese growth. The Chinese economy expanded by 7.9 per cent in the fourth quarter, coming in above expectations and marking an uptick from the 7.4 per cent recorded [...]
Retail sales slip in December January 18, 2013 British retail sales posted a surprise fall in December, crushing hopes that buoyant Christmas trading would provide a boost to the economy. The Office for National Statistics said this morning that sales including fuel fell 0.1 per cent month on month in December. On an annual basis, retail sales posted a jump of 0.3 per [...]
Chinese economy rebounds in fourth quarter January 18, 2013 China’s economy showed signs of a rebound in the final quarter of 2012, as it pulled out of a financial crisis that produced the slowest year of economic growth since 1999. The economy expanded by a higher-than-forecast 7.9 per cent year on year in the fourth quarter, from 7.4 per cent in the previous quarter. [...]
Evraz annual output down five per cent January 18, 2013 Crude steel production slumped by five per cent last year for Russia’s largest steel producer Evraz. Output fell to 15.9m tonnes, from 16.7m tonnes in 2011, on the back of overhauls at its Russian steel mills. The temporary suspension of production at Evraz Vitkovice’s steel shop in the Czech Republic also weighed on output over [...]
Glenstrata completion date pushed back January 18, 2013 Commodities giant Glencore has pushed back the completion date for its tie-up with rival Xstrata as it waits for regulatory approval from South Africa and China. Last month, the miners announced the extension of the “long stop date” for the £56bn merger from 31 December to 31 January. As regulatory processes in South Africa and [...]
UK car exports hit record high January 17, 2013 THE UK exported more cars than ever before in 2012, figures revealed yesterday, providing a much-needed boost for the country’s manufacturing sector. British factories made 1.46m cars last year, a rise of nine per cent and the highest number since 2007 – and experts predict further growth in the years ahead, Of these, 1.21m were sold [...]
Bosses clash on EU – but speech is off January 17, 2013 TULLETT PREBON boss Terry Smith has thrown his weight behind the City campaign for an EU referendum – but David Cameron has been forced to cancel today’s long-awaited speech on Britain’s future in Europe due to the hostage crisis in Algeria. Smith, chief executive of the FTSE 250 broker, told City A.M. that he supports [...]
Snow set to blast London as train services scrapped January 17, 2013 COMMUTERS were last night braced for travel chaos today as train operators cancelled services ahead of a snow blizzard set to batter the UK. Up to six inches are expected to fall across London throughout this morning. The Met Office last night placed much of the South East on an amber warning, the second most [...]
Buyers start to circle HMV sale January 17, 2013 COLLAPSED retailer HMV is being circled by up to 50 potential suitors keen to buy parts of the chain, it emerged last night. HMV, which appointed Deloitte as administrators on Monday, has received expressions of interest from a variety of potential buyers, including private equity groups and trade buyers, Deloitte said. Game, the video game [...]