Credit Suisse lights up equity markets January 12, 2011 CREDIT Suisse is testing an innovative Light Pool trading platform in the US, and wants to create a new market for long-term institutional investors when it launches fully in March. The platform offers an alternative to both traditional exchanges and to dark pools, where large trades can be executed anonymously. Credit Suisse is responding to [...]
Light pool explained January 12, 2011 Q.Who is light pool aimed at? A.Light Pool is aimed at long-term investors who want to post visible trade queries without falling prey to opportunistic traders that can operate on the traditional exchanges. Q.Who can trade on Light Pool? A.Anybody will be able to trade on Light Pool, but every client will be scored by [...]
Asda to sell 47 of Netto UK shops to rivals January 12, 2011 ASDA, owned by Wal-Mart, has agreed to sell 47 of the stores it plans to buy from Netto UK to rivals including Morrisons and Iceland in order to win regulatory clearance for the deal. Asda has already lined up buyers for 25 of the stores, the Office of Fair Trading (OFT) said yesterday. The OFT [...]
Fenner rises on positive forecast January 12, 2011 Polymer manufacturer Fenner’s stock closed 9.02 per cent up yesterday following a positive trading statement from the company, which makes conveyor belts. The shares closed at 386.7p, up from 354.7p the previous day, as the company reported an increase in first-quarter profitability and forecast further progress in the second quarter. The firm’s chairman, Colin Cooke, [...]
EU gives approval to Sanofi bid January 12, 2011 French drugmaker Sanofi-Aventis won European Union regulatory approval yesterday for its hostile $18.5bn (£11.7bn) takeover bid for US biotech firm Genzyme, saying the deal would not reduce competition in Europe. Sanofi has offered $69 a share – or $18.5bn – to acquire Genzyme, but the price has been rejected by Genzyme chief executive Henri Termeer [...]
Uniq figures up despite snow January 12, 2011 Convenience food maker Uniq has announced that its Christmas trading was close to expectations despite bad weather. It also said that talks were continuing over a restructuring of its pension scheme and a new banking facility. The company is in discussions with the pensions regulator and its main trustee over its proposed deficit-for-equity swap. Uniq [...]
Sainsbury’s sees record festive sales January 12, 2011 J SAINSBURY reported its best ever Christmas sales as customers splashed out on more expensive ranges over the festive period. The supermarket group, which this month overtook Asda as the second largest supermarket in the four week run-up to Christmas, said in a trading statement yesterday that like-for like sales for the 14 weeks to [...]
SuperGroup in Xmas boom January 12, 2011 SHARES in SuperGroup, the firm behind the Superdry fashion brand, jumped more than 19 per cent yesterday after the company reported its best ever Christmas trading. For the nine weeks to 2 January, total sales almost doubled to £65.1m from a year ago. The company said it had managed to counter the impact of rising [...]
N Brown upbeat despite hit from snowy weather January 12, 2011 MAIL order clothing firm N Brown saw like-for-like sales lifted by just 1.2 per cent over Christmas as the poor weather took its toll. Total group revenue increased by 4.6 per cent in the 19 weeks to 8 January and Brown says trading was encouraging from late October to mid-December “but the extreme weather conditions [...]
Greggs in boost from mince pies January 12, 2011 GREGGS, the high street bakery, sold eight million mince pies over the Christmas period – up 16 per cent on the previous year. The group, which has almost 1,500 shops, said shoppers who were kept indoors by the snow hit the high streets to do last-minute shopping. For the five weeks to 8 January total [...]