London Report: All eyes on Standard Life ahead of next month’s Scot vote August 3, 2014 WITH the Scottish independence referendum about six weeks away, Standard Life’s half-year results tomorrow will make for interesting reading. In February, it was first major Scottish firm to warn it was drawing up contingency plans in the event of a “Yes” vote. Today HSBC Holdings, Fidessa, Telecity, Alent, Morgan Sindall, Ultra Electronics Holdings, esure and [...]
Best of the Brokers for 05 June 2014 June 4, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com MONDI Jefferies keeps its “buy” rating and raises its target for the packaging and paper producer to 1,325p. The broker thinks Mondi has the greatest emerging market presence in the sector and enough capacity on its balance sheet to pursue acquisitions or return cash [...]
Mondi’s profits rise 13 per cent May 14, 2014 PAPER and packaging firm Mondi yesterday unveiled a 13 per cent rise in first-quarter underlying operating profit to €183m (£148.9m), due to growing demand. But the FTSE 100 company warned that “the trading environment remains mixed” and said planned maintenance shuts would lower full-year operating profit by between €50m and €60m. Average selling prices in [...]
London Report: FTSE hits brakes ahead of 14-year high as ITV drops May 14, 2014 THE FTSE 100 steadied near a 14-year high yesterday, despite broadcaster ITV falling 5.7 per cent after seeing its market share drop in the first four months of the year. ITV’s second-quarter guidance for net advertising revenue was just short of their 14 per cent forecast. The London index ended 0.08 per cent higher at [...]
London Report: Takeover hope and US expansion keep FTSE 100 on a high April 23, 2014 US expansion plans for Associated British Foods and expectations of consolidation in the drugs sector kept Britain’s top share index near a two-week high yesterday. Clothing and food conglomerate AB Foods surged 8.8 per cent, its best one-day percentage gain for 14 years, after saying its fast-growing clothing chain Primark is to set up in [...]
Mondi rises on higher outlook February 19, 2014 SOUTH African paper and packaging maker Mondi yesterday saw its share price rise on both the London and Johannesburg stock exchanges, after it raised its full-year profit forecast. The FTSE 100-quoted company said that underlying operating profit for 2013 is expected to be above the €574m (£473.6m) achieved in 2012, after its nine-month profit of €538m [...]
Mondi profits increase 25pc November 6, 2013 SOUTH African paper maker Mondi yesterday posted a 25 per cent increase in third-quarter operating profit to €138m (£116m), due to improved market conditions and the benefits from the acquisitions completed towards the end of 2012. The FTSE 100-listed firm is on track for 2013, but said next year depends on the macroeconomic recovery.
London Report: Recovery looks on track in busy reporting week November 3, 2013 SERVICES figures due out this week, plus the latest updates on industrial and manufacturing production, look set to show continued recovery for the British economy. “September’s industrial production figures are likely to show that overall output partially recovered from its surprise 1.1 per cent monthly fall in August,” said Martin Beck, of Capital Economics. “Manufacturing [...]
New FTSE100 stocks see red as first trading day incurs losses September 23, 2013 SPORTS Direct and Coca Cola Hellenic both saw losses in their first day of trading after joining the index of 100 top shares yesterday. The sports retailer began the day positively but rapidly plunged into the red, ending its debut on the FTSE100 down 1.07 per cent, a bigger drop than the overall 0.59 per [...]
Bumi slips out of FTSE 250 after index kicks out troubled miner September 11, 2013 COALMINER Bumi yesterday slipped out of the FTSE 250 at the index’s quarterly review, bringing an end to a deeply unsuccessful spell in the top tiers of British business. The company will now became a member of the FTSE Small Cap index. Set up in 2010 by Nat Rothschild, Bumi has endured a turbulent existence [...]