BEST OF THE BROKERS March 13, 2011 F&C ASSET MANAGEMENT Deutsche Bank has downgraded the asset manager from “hold” to “sell” with a target price of 76p. The broker sees two new risks from the firm’s results last week that are not reflected in the current share price: a decline in equity investment performance and a dispute with key client Millennium BCP. [...]
Home Retail shares hit in profit alert March 10, 2011 HOME Retail Group, the owner of Argos and Homebase, issued a profit warning yesterday, saying worried shoppers were reining in their spending. The company said that it now expected pre-tax profit for the year to 26 February to be between £250m and £255m. In January it had forecast full-year year profit of about £263m, down [...]
FTSE falls below 6,000 level as Middle East woes weigh February 22, 2011 BRITAIN’S top share index closed lower yesterday as troubles in the Middle East clouded sentiment, but bumper consumer confidence figures from the US spurred a late rally and boosted commodity stocks. The FTSE 100 closed down 18.04 points or 0.3 per cent lower at 5,996.76, having finished at a two-week closing low on Monday. “The [...]
What the other papers say this morning February 20, 2011 FINANCIAL TIMES BUSINESS JET TRAVEL REBOUNDS AS RICH SPLASH OUT FOR PRIVACY Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again. The number of business flights – which includes celebrity, state and business hire – grew [...]
More people should be The Apprentice February 6, 2011 WHEN the City opened its doors to the barrow boys of the East End – the wheeler dealer market traders who were first let loose on the London Stock Exchange in the 1980s – they were a roaring success. They had the drive, the hunger and the charisma to allow them to thrive in the [...]
Blacks calls off takeover talks January 26, 2011 OUTDOOR clothing retailer Blacks Leisure called off talks with potential suitors yesterday, saying none of the proposals were “sufficiently compelling” to take to shareholders. The owner of the Blacks Outdoor and Millets chains said its board would instead focus on supporting the firm’s budding turnaround and opening additional stores. Interested parties were said to include [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
Home Retail not as bad as forecast January 13, 2011 SHARES in Home Retail Group jumped more than six per cent yesterday to hit their highest level since September, after the household goods retailer said sales had fallen less than analyst forecast. Analysts issued a slightly higher profit forecast for the full-year between £250m and £275m, following the more upbeat statement. Like-for-like sales at its [...]
Home Retail Group sales rally January 13, 2011 Home Retail said sales had fallen less than analysts expected at both its Argos and Homebase units in the run-up to Christmas, and forecast yearly profit in line with its own previous forecast. The company said it expected full-year pre-tax profit to be around the mid-point of its previously indicated range of £250m to £275m. [...]
Nick heads to Argos before VAT bombshell January 4, 2011 PROOF that it pays to keep your eyes peeled, no matter where you are. A Capitalist source was in touch yesterday to mention a sterling spot he made while browsing Argos catalogues in his nearest store on Monday. Who should show up but Deputy Prime Minister Nick Clegg? But pray, what was the illustrious DPM [...]