Best of the Brokers for 02 June 2014 June 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS N+1 Singer has lowered its target price on the online fashion retailer from 5300p to 4100p but maintained its “hold” rating on the stock. The broker is concerned that the group’s sales growth rate in overseas markets is under threat, and has [...]
B&Q owner Kingfisher’s shares are tumbling. Here’s why May 29, 2014 Kingfisher shares have shed 6.1 per cent, despite the home improvements retailer announcing a £100m special dividend this morning. Like-for-like sales at B&Q jumped 9.7 per cent to £1bn in the first quarter, with Screwfix seeing a 12 per cent increase, to £192m. But investors may not have been so filled with confidence over the [...]
What you need to know before the open May 29, 2014 European markets are expected up this morning, with the focus on the latest first quarter GDP number from the US. Bond prices continued to rise yesterday – in peripheral as well as UK and German ones – with the market still firmly decoupled from equities. Data-wise, things are quiet in Europe, with the significant numbers [...]
Kingfisher begins capital return April 28, 2014 Kingfisher, Europe’s largest home improvements retailer, said yesterday it had begun its programme to return £200m to shareholders this year after buying and cancelling 500,000 ordinary shares. It paid between 409.9p and 414.95p for the shares. The B&Q and Screwfix owner announced last month that it would launch a multi-year programme starting with £200m in [...]
Kingfisher bids for French rival Mr Bricolage April 3, 2014 EUROPE’S biggest home improvement retailer Kingfisher has bolstered its presence in France by agreeing to buy smaller rival Mr Bricolage for €275m (£227m) including debt. The B&Q owner, which makes about half of its annual profit in France, said it has entered exclusive talks to buy 26.2 per cent of the share capital from the [...]
What you need to know before the open April 3, 2014 Markets are set to open higher this morning as investors turn their eyes to the European Central Bank (ECB). Many are hoping that the ECB will take measures to tackle deflationary pressures in the Eurozone. Corporate data Vodafone has announced it will to open 150 new shops across the UK, creating 1,400 jobs. B&Q and [...]
B&Q owner Kingfisher confirms exclusive talks to buy Mr Bricolage April 3, 2014 B&Q and Screwfix owner Kingfisher has announced it’s entered exclusive talks to acquire Mr Bricolage, a French home improvement retailer. Should the deal being discussed go through, FTSE 100 company Kingfisher would initially acquire 68.1 per cent of the firm’s share capital – from the majority shareholders – making a subsequent offer to buy shares [...]
Kingfisher returns £200m to shareholders March 25, 2014 KINGFISHER, the owner of DIY chains B&Q and Screwfix, announced plans to hand £200m to shareholders as brighter prospects in the UK helped boost its full-year performance, sending shares up six per cent yesterday. Finance director Karen Witts said it will launch a multi-year programme starting with £200m in this financial year – its first [...]
Kingfisher shares climb on bumper profits March 25, 2014 B&Q owner Kingfisher is enjoying a rise in share price of four per cent after the company announced bumper profits before tax of 9.8 per cent to £759m for the year 2013/14. The company saw revenues rise 5.2 per cent to £11bn despite a difficult first quarter in 2013 and a weak economic environment in [...]
Witts joins Imperial Tobacco board February 5, 2014 Kingfisher’s finance director Karen Witts has been appointed as non-executive director of Imperial Tobacco, the owner of DIY chain B&Q said yesterday. Witts will join Imperial Tobacco’s board today with immediate effect, taking the number of women on the company’s board to three and meeting the target set out in Lord Davies’ 2011 report for [...]