Crest Nicholson to return to stock market January 21, 2013 Housebuilder Crest Nicholson said this morning it would launch an IPO in a bid to return to the stock market five years after it was taken over during the housing crisis. Crest Nicholson, which primarily operates in the South of England, said the offer would comprise new and existing shares. The primary proceeds of the [...]
Pearson warns of tough market conditions January 21, 2013 Education company Pearson said this morning that its businesses would continue to face tough market conditions and structural industry change going into 2013, as it faced weak trading in the key fourth-quarter selling season. Market conditions remained weak in the fourth-quarter selling season for higher education, consumer publishing and corporate advertising, the FTSE 100 firm [...]
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 [...]
Rio Tinto drags FTSE 100 down January 17, 2013 Mining giant Rio Tinto weighed heavily on the FTSE 100 this morning, trading down around 3.5 per cent. This morning it said chief executive Tom Albanese would step down following a $14bn impairment charge relating to several acquisitions. Charles Gibson, head of mining at Edison Investment Research, said this morning: “When a company writes off [...]
Dixons posts strong Christmas trading January 17, 2013 Electronics retailer Dixons this morning reported robust trading over the Christmas period, boosted by tablet sales. Like for like sales in its key businesses were up by seven per cent over the 12 weeks to 5 January. Trading was lifted by “phenomenal” sales of tablets across its markets, while white goods were also strong, particularly [...]
