Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
FTSE holds gains as Italy nears crisis November 8, 2011 BRITAIN’S top share index rose yesterday, as earnings from UK corporates such as Lloyds Banking Group and Vodafone were received positively by investors, although Eurozone worries meant gains were vulnerable to profit taking. Miners and integrated oils, rising with commodity prices, also helped the UK’s benchmark index close up 56.52 points, or one per cent [...]
Sugar arm is sweet spot for AB Foods November 8, 2011 RECORD profits at Associated British Foods’ (ABF) sugar arm have helped offset weaker results at its discount-clothing chain Primark, which was hit after the group chose not to pass the rise in cotton prices onto shoppers. Primark’s profits slumped by eight per cent to £309m in the year to 17 September, after its operating profit [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Selfridges to buck the high street gloom November 6, 2011 SELFRIDGES, the British chain of high-end department stores, will this week report a surge in profits thanks to the resilience of the luxury goods market. The company, which is owned by Canadian billionaire Galen Weston, is expected to report a 19 per cent jump in profits later this week, after sales at is stories in [...]
BEST OF THE BROKERS November 2, 2011 CENTAMIN EGYPT Goldman Sachs has updated its estimates on the miner following third quarter production and financial results. It rates Centamin Egypt as a “buy” but reduces its target price from 290p to 280p, calling the results solid but unspectacular. Costs were slightly higher than expected and are reflected in next year’s estimates, with earning [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
A week full of stock results: what to watch October 10, 2011 TO say we live in interesting economic times would be an understatement. Confidence is low and money is tight. And retail stocks often show investor nerves more prominently than other markets. But it isn’t all bad news: volatility in the market can serve to make the life of the spread better more exciting. So with [...]
High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]
BEST OF THE BROKERS September 19, 2011 ASSOCIATED BRITISH FOODS UBS upgrades the Primark owner to a “buy” and ups its target price on the stock by six per cent to 1200p, to reflect increased estimates. The broker makes no change to its full year guidance for 2011 of flattish earnings, but raises 2012 estimates by three per cent to put earning [...]