Stagecoach’s revenue grows August 26, 2014 TRANSPORT group Stagecoach yesterday reported “satisfactory” second quarter revenue growth across all its divisions. The Scotland-based group, which transports three million customers a day, also expected no change to adjusted earnings per share for the current year. The firm posted a 14.4 per cent increase in revenue growth for London bus operations for the period [...]
Best of the Brokers for 27 August 2014 August 26, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com GREENE KING Numis has upgraded to “buy’ from “add”, with a target price of 975p. While the broker expects growth to be muted in 2015, it still thinks the long-term strategy at Greene King is right, with faster progress with repositioning, and thinks [...]
London Report: Draghi QE hint sends banks and FTSE up but Antofagasta falls August 26, 2014 BRITAIN’S top equity index rose yesterday, with financial stocks outperforming, amid expectations of new economic stimulus measures from the European Central Bank. The blue-chip FTSE 100 index closed up by 0.7 per cent, or 47.51 points, at 6,822.76 points – its highest closing level since early July. As the FTSE was closed on Monday due [...]
New York Report: Burger merger sends Dow up August 26, 2014 WALL Street’s record-setting rally continued yesterday as the S&P 500 notched its 30th record of the year and closed above 2000 for the first time ever. The Dow also rose but fell short of its record closing high after setting an all-time intraday high earlier in the session. The S&P 500 index rose 2.10 points, [...]
Fears of threat to UK house prices from shale gas fracking rejected by government August 25, 2014 The government has stuck to its guns over fracking despite claims that the practice could be damaging to property values. The Department of Energy & Climate Change (Decc), led by minister Ed Davey, told City A.M. shale exploration would have no impact on house prices, despite suggestions homes near drilling sites could be put into [...]
Best of the Brokers for 26 August 2014 August 25, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com RIGHTMOVE Westhouse Securities has reduced its rating to “Neutral” from “Add”, with the target price at 2,585p. The broker is encouraged by positive trading momentum and management’s confident outlook for the remainder of the year, but downgraded its rating on recent share price [...]
London Report: Consumers upbeat as momentum of recovery continues August 25, 2014 THE GFK consumer confidence survey, CBI Distributive Trades Survey and Nationwide house price data are the key economic reports in a quiet end-of-summer week before next week’s slew of rates, statistics and money supply data. Analysts expect consumer confidence to remain high, showing the continuing economic recovery. Today’s results come from Antofagasta, Bunzl, Kentz, Petrofac, [...]
Wall St The Week Ahead: S&P 500 hits 2,000 mark August 25, 2014 THE S&P 500 was unable to hold the 2,000 mark after moving above the milestone level for the first time yesterday, but still managed to close at a record high, buoyed by financials and biotechnology stocks. The significance of the milestone was more psychological than fundamental, and it represents the high point of a nearly [...]
Central Line & Waterloo and City Tube strike chaos August 21, 2014 Transport disruption will hit the capital again today as train drivers on both the Central Line and the Waterloo and City Line strike in protest over: “management’s refusal to treat drivers with the respect and dignity they deserve”. The Aslef transport union intends the industrial action to last 24 hours with a further one-day strike [...]
London City lands third place in airport poll August 21, 2014 London City airport has been voted Britain’s third best airport, sharing the position with Blackpool Airport in comparison website Which’s 2014 airport passenger survey. For the second consecutive year, London Southend topped the pile, despite having to share this year’s gong with Robin Hood Doncaster Sheffield. As in 2013, London Luton was labelled Britain’s worst.
