JD Wetherspoon shares lift on investors’ dividend hopes November 4, 2009 JD Wetherspoon’S shares climbed yesterday after the pubs group said it expects to complete a refinancing of its debt by March next year, raising hopes it will resume dividend payments and overshadowing a slowing in the rate of its sales growth. The group’s shares lifted by almost three per cent to 477.7p by the close. [...]
Next delights City with hike in forecasts November 4, 2009 FASHION retailer Next yesterday told the City to upp its forecasts for the year after reporting a better than expected third quarter. Chief executive Simon Wolfson said: “There was a noticeable pick -up in sales in October as we came up against the weak comparatives of the previous year: It was at this time last [...]
M&S beats forecasts as it says no to discounting November 4, 2009 MARKS & SPENCER (M&S) yesterday said that there would be no blanket promotions that dominated the high street last year in the run up to the Christmas period, after its half year sales beat City forecasts. Executive chairman Sir Stuart Rose yesterday said that this year included very different circumstances. He said: “Last year people [...]
Sir Stuart again failed to tell the City his succession plans November 4, 2009 ONE of the most hotly-debated succession sagas looks set to keep on rolling as M&S yesterday shunned questions about how the search for Sir Stuart Rose’s successor was progressing. Rose furiously batted away questions on the M&S’s succession plans, despite it being a concern weighing heavily on many analysts’ minds. “I’m not answering questions on [...]
CITY VIEWS: IS M&S RIGHT TO INTRODUCE OTHER BRANDS INTO ITS STORES? November 4, 2009 CHARLES MARLOND TALBOT VALIDUS“At a time when most supermarkets are introducing their own lines as a cheaper alternative to branded products – this is a bit different. People are fond of their favourite brands, but I don’t believe it will alter many people’s shopping habits.” KATE PRISKELL MONETISE“?I think it’s a bit sad M&S has [...]
Rosy services data boosts UK prospects November 4, 2009 STRONG growth in Britain’s services sector added to the more upbeat mood prevailing in the UK yesterday, ahead of the Bank of England’s monetary policy decision. The CIPS/Markit services purchasing managers’ index (PMI) yesterday showed the headline business activity index surge to 56.9 in October above 55.3 in September and beating the consensus forecast of [...]
Services sector in Europe sees strong growth November 4, 2009 SERVICES activity in the Eurozone grew at its fastest rate since December 2007, boosted by sharp rises in both the business activity and new orders balances. The headline Markit business activity index for October came in at 52.6, beating both the flash estimate and the September reading. The strongest expansion was seen in France, which [...]
QE decision likely to split Bank’s MPC November 4, 2009 QUANTITATIVE EASING should be extended this month despite the more upbeat outlook for the UK economy, according to City A.M.’s shadow Monetary Policy Committee (MPC), which narrowly voted in favour of further asset purchases this month. Ahead of the Bank of England’s decision on interest rates and its QE policy, which is due at midday [...]
CITY A.M. SHADOW MPC November 4, 2009 ALLISTER HEATH CITY A.M.“The MPC should hold QE – or at the very least increase it by less than £25bn while signalling that the measures are coming to an end. The latest PMI figures show that growth is slowly but surely returning to the UK.” SIMON WARD HENDERSON NEW STAR“Hold rates, suspend QE. The weight [...]
RBS board may miss out November 4, 2009 THE boss and directors of Royal Bank of Scotland (RBS) may not get bonuses if the majority state-owned bank fails to hit government lending targets, sparking fears of an exodus of senior bankers, it emerged yesterday. Chief executive Stephen Hester and senior colleagues will miss out on payments if RBS falls short of lending conditions [...]