THE TIPSTER May 26, 2010 TESCO has pulled back from its high of 454.9p at the end of April but has also bounced back from its decline to the 38.2 per cent Fibonacci retracement level. Look to purchase below £4 with a stop at £3.85. WorldSpreads offers a rolling spread on Tesco of 397.2p–398p. There’s been no shortage of volatility [...]
Cable & Wireless trades in line with forecasts May 26, 2010 TELECOMS firm Cable & Wireless Worldwide posted full-year results in line with forecasts and said it was confident it would meet expectations for cash and earnings generation as conditions improve. The former Cable & Wireless group split earlier this year into CWC – focussed in the Caribbean, Macau and Panama – and Cable & Wireless [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 24, 2010 FINANCIAL TIMES AIA CHIEF IN THREAT TO QUIT OVER PRU DEAL AIA’s chief executive has told friends and industry executives that he would quit if the UK’s Prudential succeeded in its $35.5bn (£24.6bn) takeover of the Asian businesses of AIG. Mark Wilson has said he would step down once the deal closed because the proposed [...]
Cranswick raises dividend May 24, 2010 Pork supplier Cranswick increased its dividend yesterday after posting a 21 per cent rise in annual pre-tax profits, to a record £43.8m. Increased demand from supermarkets, particularly for higher-end products, is credited for better than expected growth. The company, which has supply contracts with Sainsbury’s Taste the Difference and Tesco, raised its divided more than [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
Boots in £1bn profit haul May 17, 2010 ALLIANCE Boots yesterday posted an annual profit of more than £1bn – becoming only the third UK retailer to pass that milestone. The group, taken private in 2007 in Europe’s biggest leveraged buyout, also said there was strong growth in own-brand products like No7 cosmetics. Its international wholesale operations also helped in a tough consumer [...]
Wiseman milking the profits May 17, 2010 ROBERT Wiseman Dairies has reported a jump in full-year pre-tax profits of 60 per cent to a record £49.2m. The firm said the results had been boosted by a rise in cream prices and a £1.9m cut in a fine imposed by the Office of Fair Trading (OFT). Meanwhile, Alan Wiseman has announced he will [...]
Alliance Boots profit tops £1bn for first time May 17, 2010 BRITAIN’S biggest pharmacy chain Alliance Boots has posted annual profits of more than £1bn – becoming only the third UK retailer to pass that milestone. The group, bought in 2007 by private equity firm KKR and executive chairman Stefano Pessina for £11bn in Europe’s biggest leveraged buyout, said the 13 per cent increase in trading [...]
Hornby set to reveal £1bn Boots profit May 16, 2010 ANDY HORNBY, the man associated with the near-collapse of HBOS, will return to the limelight today as he announces an estimated £1bn profit at the helm of Alliance Boots. Hornby is expected to say the private equity-owned healthcare and beauty products retailer’s trading profit for the year to 31 March grew at a faster pace [...]
CITY MOVES | WHO’S SWITCHING JOBS May 13, 2010 State Street Global Advisors The investment manager has appointed Lynn Blake as head of index equity. Blake, 45, is a long-standing veteran of the firm, having first joined 23 years ago. She has held positions as a portfolio manager and head of non-US markets in the global structured products group. She succeeds Paul Brakke, 53, [...]