AB Foods given lift by Primark and sugar arm April 24, 2012 ASSOCIATED British Foods yesterday forecast a significant rise in full year profits, fuelled by its Primark chain and sugar business. The food and retail group said earnings in the six months to 3 March rose by five per cent with higher sugar prices giving the FTSE 100 group momentum. The company, whose brands include Silver [...]
RAPID responses April 22, 2012 Not so negative [Re: Hedgies march out of Mayfair as property costs bite, Tuesday] It’s worth noting that, due to the long lease terms and notice periods associated with conventional office leases, many hedge funds probably decided to leave over a year ago. We own and operate 17 serviced office buildings in the West End. [...]
US corporate results round-up April 18, 2012 New Taco Bell menu boosts Yum YUM Brands, the food group behind Pizza Hut and KFC, saw its first quarter profits rise by 73 per cent despite slower trading in its China division. The Kentucky-based company’s profits climbed to $458m (£285.8m), boosted by a revamped menu at Taco Bell. US sales at the Mexican fast [...]
Bank of England’s inflation over-optimism must now end April 17, 2012 EXCUSES, excuses, excuses. Once again, the Bank of England has suffered the humiliation of seeing consumer price index (CPI) inflation increase, rather than drop, last month. The CPI measure increased from 3.4 per cent to 3.5 per cent; let’s never forget that the target that the Bank is meant to be sticking to is two [...]
Surprise jump in inflation as food prices rise April 17, 2012 SOARING food and clothes prices pushed inflation up in March, official data showed yesterday, reversing the recent downward trend and raising fears that consumers will be squeezed for even longer than expected. Consumer prices rose 3.5 per cent in the year to March, up from 3.4 per cent in February and defying predictions of rapidly [...]
Bouncing back banking shares see FTSE jump by nearly two per cent April 17, 2012 BRITAIN’S top share index gained nearly two per cent yesterday, led by a rebound in banking stocks after a well-covered Spanish bill auction eased some concerns about banks’ exposure to Eurozone debt. Barclays was the top sector performer, rallying 4.6 per cent after BofA Merrill Lynch said earnings upgrades could be on the horizon for [...]
FTSE edges up thanks to banks April 17, 2012 London’s blue chip index edged up this morning but the Eurozone debt crisis continued to cast a shadow. Spain’s borrowing costs have jumped and the country is grappling to get back on track with a tough set of austerity measures. The FTSE 100 built on limited gains in yesterday’s session as investors took cover in [...]
UK inflation rises April 17, 2012 British inflation ticked up in March, driven by higher food and clothing prices and reinforcing expectations the Bank of England will not inject more stimulus into the economy next month. The Bank of England and the government have been hoping that falling price pressures will ease the squeeze on Britons’ budgets and boost consumer spending. [...]
M&S misses sales forecast April 17, 2012 Marks & Spencer missed forecasts for underlying fourth quarter sales, with growth in food sales failing to offset a weaker outcome in general merchandise. The UK’s biggest clothing retailer, which also sells homewares and upmarket foods, said on Tuesday it would, however, meet expectations for 2011/12 profit. M&S said sales at stores open over a [...]
News from retailers and job figures will make the week ahead April 15, 2012 WHILE the first couple of days indicate a quiet start for the UK market, activity is likely to increase by the middle of the week. All eyes will be on consumer price index data tomorrow for any signs of inflation moving one way or another. Tesco reports full year numbers on Wednesday. The supermarket lost [...]