UK firms set for busy week of trading reports January 27, 2013 THE UK’s corporate calendar is packed this week as many of Britain’s biggest companies deliver their results before the month’s end. Both AstraZeneca and Royal Dutch Shell are set to give full-year results on Thursday, while British Sky Broadcasting, Haynes Publishing and Rank Group will give interim reports. Trading announcements are also expected that day [...]
City Moves for 25 January 2013 | Who’s switching jobs January 24, 2013 Vestra Wealth Management Heinz Schmid has been appointed fixed income strategist in the wealth management firm’s investment team. He joins from Investec, and was previously head of UK fixed income at BNP Paribas. Schmid has also managed HSBC Investment Management’s sterling fixed income team, and held a number of roles at UBS. Centrus Advisors Geoff [...]
Analyst Views | What do you think of unilever’s results? January 23, 2013 GRAHAM JONES PANMURE GORDON With two recent disposals in US foods, we expect Unilever to continue its favourable skew to faster growing categories in 2013. It is encouraging to see cash flow improving…The outlook remains the same; further sales growth ahead of the market and continued steady and sustainable margin expansion. MARTIN DEBOO INVESTEC Unilever’s [...]
Best of the brokers January 23, 2013 BARCLAYS Investec upgraded the bank yesterday on the back of new investment bank job cuts. Although the market knew some staff were being trimmed, the scale took the analysts by surprise. “Consensus still appears to underestimate the material benefit that will flow through the Barcap cost line as headcount and pay are rebased to the [...]
Unilever boosts FTSE 100 as it edges towards 6,200 January 23, 2013 The leading share index edged up towards the 6,200 level this morning, led by consumer goods group Unilever. The stock was the strongest riser on the FTSE 100 this morning, on the back of a buoyant trading statement. Turnover jumped 10.5 per cent in 2012, boosted by growth in emerging markets. Martin Deboo at Investec [...]
Undertaker hits decade high on takeover deal January 22, 2013 The UK’s only listed undertaker soared to its highest share price ever yesterday after unveiling plans to buy a northern funeral business. Dignity, which famously buried Sir Winston Churchill, has agreed to buy privately owned business Yew Holdings for £58.3m, giving it 40 additional funeral parlours and two crematoria to add to its 600 locations [...]
Analyst Views | Does Pearson’s profit downgrade affect your rating? January 21, 2013 STEVE LIECHTI INVESTEC 2012 downgrades are expected but 2013 forecasts fall by even more given warnings in a number of areas. US higher education is still seeing drag given state budget pressure while college admissions are reducing. We retain our “Hold” guidance but cut the price target from 1240p to 1190p. THOMAS SINGLEHURST CITI A [...]
Best of the brokers January 21, 2013 ADMIRAL GROUP Goldman Sachs yesterday upgraded Cardiff-based insurer Admiral from “neutral” to “buy”, sending the company’s share price up five per cent. The banking giant said the stock had underperformed over the last six months due to “softening premium rates and regulatory intervention” but it now presents an investment opportunity, as there is “potential for [...]
FTSE 100 soars to a 4 1/2-year high as investors take heart from the US January 21, 2013 BRITAIN’S FTSE 100 scaled fresh 4-1/2 year peaks yesterday, with signs of progress in US budget talks encouraging investors’ shift from low-yielding government bonds into higher risk, higher return equities. US Republican leaders signalled they would allow the government to raise the debt ceiling and borrow to prevent a default in the next three months [...]
Strong IT spending in UK boosts Computacenter in spite of euro January 17, 2013 IT FIRM Computacenter said yesterday strong demand for services in the UK had propelled rising revenues, even as a weak euro threatened to hit turnover. The company, which operates in more than 100 countries, said in constant currency terms its revenues had increased six per cent last year, but accounting for currency fluctuations, this was [...]