M&S adds sparkle to FTSE after good corporate results – London Report November 5, 2014 BRITAIN’S top share index advanced yesterday, as reassuring corporate reports helped to counteract modest weakness in commodity-related stocks. Ahead of this week’s meetings of the Bank of England and European Central Bank and Friday’s US jobs data, the FTSE 100 finished 1.32 per cent higher at 6539.14 points. Marks & Spencer soared 9.74 per cent [...]
After magnificent year Primark shakes off retail’s winter blues November 4, 2014 PRIMARK’S “magnificent” performance over the past year caught the imagination of investors yesterday as shares in owner Associated British Foods (ABF) jumped 4.2 per cent on news of the discount retailer’s trading. Only last week, Next warned that the impact of the unexpectedly warm autumn was set to hit most high street retailers. However, ABF [...]
Lower oil prices hit FTSE after Saudi cuts costs – London Report November 4, 2014 BRITAIN’S top equity index yesterday edged lower, hit by losses in heavily weighted oil and gas stocks after the price of Brent crude slid to its lowest point in four years. Falls in the oil and gas sector stripped 30.6 points off the FTSE 100, which closed down 34 points, or 0.5 per cent, at [...]
Associated British Foods share price rises as Primark revenues jump November 4, 2014 Shares in Primark parent company Associated British Foods (ABF) rose 1.65 per cent in early trading, as a "magnificent year" for Primark helped create record increases in earnings and profit before tax in its full-year results today. ABF chief executive George Weston said: “Primark’s trading success and significant expansion delivered another magnificent year.” [...]
Apple Pay launches: Why mobile payment is about take off October 21, 2014 Apple Pay, the tech giant's mobile payment service, has launched in the US offering users the ability to pay for items using just their mobile phone. It kicks of the most high-profile launch in the nascent mobile payment space, which could finally push it into the mainstream. A mobile wallet is perhaps the best way [...]
Primark strikes deal with Sears to open seven stores in the US October 20, 2014 PRIMARK has struck a deal to open seven stores in the US, including its first in New York, through a leasing deal with retailer Sears. The value retailer revealed yesterday it has agreed to take around 520,000 square feet of unwanted retail space from Sears in shopping malls in the north east of the US. [...]
Coming to America: Primark signs deal for a further seven stores in the US October 20, 2014 Primark is to open a further seven stores in the US, including its first in New York, through a lease deal with Sears Holdings revealed today. The value retailer is taking on around 520,000 gross square feet of retail space in mall-based stores in the north east of the US. Primark will take on [...]
Eurozone fears pull down FTSE to one-year low – London Report October 9, 2014 THE FTSE 100 yesterday hit its lowest level for a year after early gains fell away in a broad-based sell-off as investors became anxious about signs of serious weakening in the Eurozone economy. The blue-chip index, which hit 6,544 points in morning trading, due mainly to a rise in mining shares, ended the day down [...]
Next’s bad weather forecast casts dark shadow on markets – London Report September 30, 2014 BRITAIN’S top share index slid yesterday, with retailers falling after Next said it would have to lower its full-year profit forecast if the unusually warm weather continued. The FTSE 100 fell 23.88 points, or 0.36 per cent, to 6,622.72 points. Britain’s Number. 2 clothing retailer’s warning sent its shares down 3.79 per cent to 6,605p while [...]
Best of the Brokers for 16 September 2014 September 15, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Numis has upgraded to “hold” from “reduce”, but cut the target price to 2,496p from 2,572p. The broker has slightly reduced forecasts, but still believes positives include the growth record of Primark, a strong balance sheet, and lack of major [...]