Manufacturing lifts UK growth in first quarter May 12, 2015 BRITAIN’S economic growth numbers could be upgraded as manufacturing and industrial numbers yesterday showed healthy growth in March. Initial estimates of GDP are put together using just 40 per cent of the data, leading to substantial revisions to the numbers. Official figures yesterday show manufacturing output increased 0.4 per cent from February to March, while [...]
Sweden set to loosen monetary policy again as deflation strikes May 12, 2015 Prices fell again in Sweden in April despite policymakers’ attempts to banish deflation through very loose monetary policy, official figures showed yesterday. Consumer prices fell 0.2 per cent on the year, sliding after two months of positive inflation numbers. Policymakers at the Riksbank held interest rates at minus 0.25 per cent at their April meeting, [...]
It’s happy hour for Gruppo Campari May 12, 2015 ITALIAN drinks firm Gruppo Campari reported a 13.4 per cent jump in first quarter sales yesterday, driven by strong demand in the US for its bourbon whisky Wild Turkey and its Jamaican rums. Revenues were €327.4m (£235m), with pre-tax profit rising by 73 per cent to € 35.8m.
City Moves for 13 May 2015 | Who’s switching jobs May 12, 2015 BNP Paribas Real Estate Simon Durkin has been appointed head of UK research at the property advisory firm. He joins from Deutsche Asset & Wealth Management, where he was head of research and strategy for Europe in its alternatives and real assets division. Durkin has also held senior roles at CoStar Group. Newton Investment Management [...]
Enterprise Inns responds to new tenant powers May 12, 2015 BRITISH pub landlord Enterprise Inns plans to sell 1,000 pubs, create a large property rental arm and expand its own managed pubs unit in response to a new tenant law that stands to hit profits. The law will allow publicans to choose where they buy their beer, threatening future profits of landlords, who, under a [...]
Final six Tesco Homeplus stores to close May 12, 2015 TESCO will end its non-grocery Homeplus stores across the UK with the closure of its remaining locations. The last six of the retailer’s Homeplus stores will close, with the loss of 450 jobs, halting its venture in non-food retailing in the UK as it seeks to turnaround huge losses. Stores in Bracknell, Bromborough in Cheshire, [...]
French media group Vivendi to purchase broadcaster Canal Plus May 12, 2015 FRENCH media giant Vivendi said it will offer a €495m (£354m) buyout for a controlling stake in Canal Plus. Vivendi already owns around 48.5 per cent of the company, and yesterday said its supervisory board had approved a public tender offer of €7.60 per share. The group said it intended to grow its stake in [...]
Best of the Brokers for 13 May 2015 May 12, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com THE RESTAURANT GROUP Berenberg said The Restaurant Group now looks undervalued against peers such as Domino’s Pizza, Greggs and Patisserie Valerie and reiterated its “buy” recommendation. The broker also kept a target price of 800p on the stock, which it said offered an [...]
French strikes hit EasyJet to drag on FTSE – London Report May 12, 2015 BRITAIN’s top share index slid lower on Tuesday, weighed down by a slump in the cut-price airline EasyJet, as a global bond sell-off hit markets and ensured that optimism of a decisive British election was short-lived. The blue-chip FTSE 100 index fell 1.4 per cent to 6,933.80 points. The FTSE hit a record high of [...]
High global bond yields cause concern – New York Report May 12, 2015 US STOCKS fell yesterday after a recent run-up in global bond yields unsettled investors already concerned about an eventual Federal Reserve interest rate hike. Stocks recovered from steeper losses after Treasury yields slid back slightly from six-month highs. The recent, unexpected leap in yields on US Treasuries and German Bunds has been a thorn in [...]
