BEST OF THE BROKERS October 1, 2009 WINCANTONJP Morgan initiated coverage of logistics firm Wincanton with a “neutral” rating and a target price of 271p. The broker sees contract logistics as a business area with potential for growth, and noted the firm’s low gearing, relative to its peers, adding it is positioning itself to expand into new high growth areas of logistics. [...]
SLICE OF THE ACTION October 1, 2009 BRITAIN’S biggest pizza delivery chain, Domino’s, yesterday said it was on track to beat full-year expectations after strong trading in the third quarter, sending its shares to an all-time high. Chief executive Chris Moore (above) reported like-for-like sales rose 10.8 per cent in the 13 weeks to 27 September.
Airbus A400M completes trials October 1, 2009 Technicians have completed crucial engine trials on the Airbus A400M military transport plane, clearing a significant obstacle to its long-delayed maiden flight. The in-flight tests were carried out by fitting one of the A400M’s newly developed turbo-prop engines to the wing of a converted Lockheed C130 Hercules transport plane at Marshall Aerospace, a specialist firm [...]
Embraer fears drop in jet orders October 1, 2009 Embraer, the world’s third largest commercial jet maker, expects aircraft orders to decline in 2009 as credit dries up because of the global financial crisis, chief executive Frederico Curado said yesterday. The Brazilian company’s order backlog was also likely to show a slight fall in the fourth quarter, he said.
CIT Group eyes rescue options October 1, 2009 CIT Group is understood to be eyeing a loan of up to $7bn if a planned debt exchange offer fails and the commercial lender has to file for pre-packaged bankruptcy. The board of the lender, which caters to small and mid-sized businesses, is understood to have been meeting to consider a restructuring plan. Under the [...]
ROLET BRINGS IN THE BANKING BIG HITTERS TO EYE UP M&A TARGETS September 30, 2009 MUCHOS excitement on the markets yesterday after Xavier Rolet continued in his quest to stamp his mark on the London Stock Exchange by axing its long-standing M&A advisers. Rolet has made no secret of his ambitious plans for the exchange, which he hopes to turn into a £10bn business via a number of strategic acquisitions [...]
Evergreen Giggs rolls back the years to rescue United September 30, 2009 MANCHESTER UTD (2) vs WOLFSBURG (1) MANCHESTER UNITED boss Sir Alex Ferguson hailed golden oldie Ryan Giggs after the Welshman saved his side from an embarrassing Champions League defeat at Old Trafford. Giggs, 35, cancelled out Edin Dzeko’s shock opener with his 150th goal in United colours before then setting up Michael Carrick for a [...]
Job done but boss Carlo is still not happy September 30, 2009 APOEL NICOSIA (0) vs CHELSEA (1) CHELSEA boss Carlo Ancelotti slated his side’s performance for the second time in five days despite registering a crucial Champions League victory over minnows Apoel Nicosia. The Italian coach was looking for a much improved display after Saturday’s crushing 3-1 defeat at Wigan, but was left frustrated again as [...]
We can stun the Aussies and win the lot, insists Swann September 30, 2009 SPINNER Graeme Swann believes England can exact revenge over Australia in the Champions Trophy tomorrow and claim a first-ever global tournament success. The Aussies booked a semi-final date with their old foes after clinching a last-ball victory against Pakistan yesterday. Ricky Ponting’s men will naturally start the more confident of the sides after blazing to [...]
Ex-champ Alonso inks three-year Ferrari deal September 30, 2009 FERRARI yesterday confirmed the paddock’s worst-kept secret when they named two-time world champion Fernando Alonso as their lead driver for next season. Alonso, 28, has agreed a three-year contract with the most famous team in motorsport, where he will join Brazilian Felipe Massa. The Spaniard, currently at Renault, will take the place of Kimi Raikkonen, [...]
