London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
Direct Line set to join FTSE 100 as Barratt slides down the list September 2, 2014 Insurer Direct Line looks set to join the coveted FTSE 100 listing this week alongside newcomer Dixons Carphone, as the FTSE committee conducts its quarterly review. The changes are likely to be announced later today and could also see homebuilder Barratt demoted out of the top 100 blue chip companies. The developer only joined the [...]
London Report: FTSE slips from five-day rise as ex-div firms fall August 20, 2014 BRITAIN’S top share index yesterday retreated from a three-week high, halting a five-day winning streak, with companies trading without the attraction of their latest dividend putting pressure on the broader market. The benchmark index finished down 0.35 per cent, or 23.83 points, at 6,755.48 points. Despite markets pausing for breath after recent rises, Standard Chartered [...]
Don’t blame developers for poor doors – blame Britain’s planning laws August 5, 2014 "POOR doors” have been slammed on newspaper front pages in recent weeks – stories of luxury developments in New York with separate entrances for on-site affordable housing have spread across the Atlantic, as it turns out that there are similar arrangements in London too. The outrage this discovery has provoked is understandable. Though the practice [...]
Best of the Brokers for 21 July 2014 July 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH LAND COMPANY Barclays has maintained its “overweight” rating, increasing the target price to 936p from 695p. The broker believes that British Land’s underlying real estate values should continue to increase, with a spike in office rents, as well as a modest increase [...]
London Report: Yellen warning and rise in UK inflation cause FTSE to slip July 16, 2014 BRITAIN’S top shares lost ground yesterday after US Federal Reserve chair Janet Yellen voiced concern over valuations. And housebuilders were hit by growing expectations UK interest rates would soon rise, while Imperial Tobacco fell sharply. The FTSE 100 index was down by 0.53 per cent – 35.69 points – at 6,710.45 points. Imperial Tobacco sank [...]
Barratt profits double on sales at six-year high July 10, 2014 Barratt Developments, the biggest housebuilder by volume in the UK, yesterday announced it expected annual pre-tax profits to double to around £390m, buoyed by higher demand from a strong property market. The earnings figures would be record-breaking for Barratt, beating analyst forecasts and up from £192m in 2013. The forecast comes as the group saw [...]
Barratt Developments expects to build strong profit growth July 10, 2014 Housebuilder Barratt Developments has continued the trend of construction companies predicting increases in pre-tax profits, completions and average sales price. Like Bovis Homes, Taylor Wimpey and Galliford Try before it, Barratt announced a sizeable increase in the average cost of one of its houses; up 13 per cent to £220,000 in the financial year. Completions were [...]
London report: Housing data to show soaring market levelling July 6, 2014 Housing prices are likely to be in focus this week, as two surveys show prices are still rising, though the market is levelling off. The RICS survey, published today, is expected to show less growth than in past months. Barclays’ Armela Mancellari said: “We expect the overall balance to have edged down [...]
London Report: FTSE ends on a high on strong economic data July 2, 2014 Britain’s top share index hit a one-week high yesterday, with upbeat economic data from the US and China improving investor sentiment and boosting cyclical sectors such as banks and miners and carmakers. The FTSE 100 index closed 0.2 per cent firmer at 6,816.37 points, after climbing to a high of 6,829.49, the highest level since [...]