Burberry tops FTSE 100 January 15, 2013 The leading share index was modestly higher in early deals, as Burberry was the star performer following an upbeat trading statement. The British luxury brand soared 5.2 per cent on the FTSE 100 this morning, as investors were cheered by its latest trading statement. Revenue over the third quarter jumped nine per cent, thanks to [...]
The good, the bad January 10, 2013 THE DIVIDED state of the UK retail sector was brought into sharp focus yesterday as an upbeat Tesco and Shop Direct claimed victory in the Christmas retail wars, while Marks and Spencer suffered the fallout of a worse-than-expected festive period. Following muted performances by rivals Sainsbury’s and Morrisons, a resurgent Tesco revealed its strongest sales [...]
High street and high-end shops to reveal holiday performances January 7, 2013 A HOST of retailers are due to give a glimpse of how they have performed over the key Christmas period this week. Marks & Spencer is expected to reveal a bruising set of numbers in its trading statement on Thursday. Nomura expects the high street giant to post UK like-for-like sales 1.4 per cent lower [...]
FTSE up despite regulatory probes December 6, 2012 The FTSE 100 was up in early trading, rising 0.4 per cent to break through the important 5,900 barrier, with some of the main share price moves driven by regulatory investigations. Rolls-Royce fell heavily after admitting that it was co-operating with the Serious Fraud Office on a probe into potential corruption and bribery at its [...]
JD Sports sprints ahead but its fashion arm runs out of breath November 21, 2012 JD SPORTS, the sportswear and fashion retailer, yesterday posted a rise in sales despite a steep drop in trading at its fashion division. The retailer said like-for-like sales in the UK rose 1.5 per cent in the 16 weeks to 17 November. But while sales at its sports stores, which include JD and Size?, rose [...]
FTSE 100 edges up as investors bide time before US election November 6, 2012 The leading share index was up this morning on a wave of corporate earnings releases, although trading was expected to be subdued as investors bided time before the closely-fought US election today. G4S and Marks & Spencer were risers on the FTSE 100 this morning, as they released positive trading updates. On the FTSE All-Share, [...]
FTSE 100 down as Anglo American in spotlight October 26, 2012 The blue chip index was down in early trading, as investors were cautious on weak data from the Eurozone and biding time ahead of US GDP released this afternoon. Mining shares bore the brunt of losses, although Anglo American bucked the trend, adding 2.1 per cent, as chief executive Cynthia Carroll announced she was to [...]
Best of the Brokers October 11, 2012 JD SPORTS Seymour Pierce upgraded its rating for the sports retailer from “hold” to “buy,” a and rose its target price from 800p to 1000p. The broker made the change in light of its acquisition of Blacks and JJB’s passing into administration, as well as Sports Direct’s plans to develop in e-commerce. The progress is [...]
FTSE 100 up on fresh China stimulus hopes September 27, 2012 The blue chip index jumped in early trading, as headline mining shares such as Anglo American, Rio Tinto and Glencore rose, bolstered by expectations of market-boosting measures from China. On the FTSE All-Share, insurer CPP Group topped the leaderboard, adding 14.29 per cent. It has been weighing up a turnaround plan after the City watchdog [...]
JJB’s sale faces scrutiny of the retail watchdog September 23, 2012 SPORTS Direct’s proposed takeover of JJB Sports’ 180 stores is likely to come under investigation by the competition watchdog once the acquisition has already taken place. The sportswear giant founded by Newcastle United owner Mike Ashley remains one of the frontrunners to buy the struggling retailer, although it is said to be interested in less [...]