Rexam to build new plant as Brazil sales rise April 11, 2011 PACKAGING company Rexam is to build a new beverage can plant in northern Brazil. The new plant, which will be located close to the city of Belém, will have a capacity of 1.2bn cans and is expected to be operational by mid-2012. Rexam’s total can capacity in Brazil will increase from around 11bn at the [...]
ANALYST VIEWS: CAN GKN CONTINUE ON THE GROWTH TRAIL? April 11, 2011 JEREMY BATSTONE-CARR | CHARLES STANLEY Continued disruption from Japan seems likely. Notwithstanding this the company is expected to make ‘good progress’ boosted by strong market positions. Investors should note, however, that market conditions remain tough in our view and comparatives are likely to get tougher. RICHARD CURR | PRIME MARKETS GKN has long established a [...]
Speedy Hire in line for loss April 11, 2011 Speedy Hire yesterday reiterated its stance that it will make a “marginal” full-year loss. The country’s leading tool and equipment hire firm, issued a trading update for the year to 31 March , in which it said revenues in the period would be slightly more than £350m. That is close to the £177.3m reported in [...]
Mercedes sees China car sales rise April 11, 2011 Sales of Mercedes Benz cars in China will likely rise more than 20 per cent year-on-year in 2011, outpacing the overall market, the company claimed. Global luxury car makers, from Audi to BMW have racked up surging sales in China, where a growing army of super-rich is fuelling demand for luxury goods from Gucci handbags [...]
Nibe in $700m Schulthess bid April 11, 2011 Swedish heat pump maker Nibe Industries yesterday launched a $700m (£427m) bid for Switzerland’s Schulthess Group in a bid to build a leading position in the growing European market for sustainable heating. Nibe said it had bought 31 per cent of Schulthess and was offering CHF60 (£40.5) per share for the remainder of the heating [...]
CITY MOVES | WHO’S SWITCHING JOBS April 11, 2011 KPMG Stuart Westgate has been appointed as director of KPMG’s major project advisory practice, which advises clients on construction and transport projects that are either in play or running over time or budget. Westgate joins KPMG from The Nichols Group, where he spent the last ten years leading programmes for infrastructure clients. For the last [...]
BEST OF THE BROKERS April 11, 2011 XCHANGING UBS rates the IT company “neutral” and has cut its target price from 85p to 55p. The broker thinks the firm has started to address the accounting issues that caused a spate of profit warnings earlier in the year, helping to reassure the market, but believes Xchanging needs to further prove its customer retention [...]
Caution ahead of US results pulls FTSE 100 to a flat close April 11, 2011 BRITAIN’S top share index closed flat yesterday, with caution from traders wary of turbulence during the US earnings season offset by strength in the banking sector following the ICB report on the future shape of UK banking. The FTSE 100 closed down 2.31 points, or 0.04 per cent, at 6,053.44 after trading in positive territory [...]
Wall Street dips ahead of earnings April 11, 2011 US stocks mostly fell yesterday as energy shares sold off on lower oil prices, and as the earnings season onset was clouded by concern company outlooks may fall short of expectations. Worries that increased raw material costs and the effects from Japan’s earthquake may affect coming quarters will put companies’ forward-looking statements under extra scrutiny. [...]
Report argues trading CFDs is on the increase April 11, 2011 ACCORDING to a report from Investment Trends, contracts for difference (CFD) trading is on the rise, with trader numbers increasing from 18,000 to 25,000 in the year to October 2010. The figures are based on a large online survey of UK traders. As well as showing that the number of CFD traders rose by almost [...]
