FTSE edges up despite retail fears March 23, 2012 The FTSE 100 bounced back in early trading after falls mainly triggered by miners who are fearful of a slowdown of growth in China. However, gains were minimal with the tough climate for UK retailers being laid bare by data from Nationwide today showing that consumer morale is weakening. Blue chip retailer Kingfisher, which owns [...]
B&Q owner sees profits surge March 22, 2012 KINGFISHER, the owner of B&Q, yesterday announced it had beaten forecasts with a 20 per cent rise in annual profit to £807m as it set out plans for further growth. Sales at the group, which also controls Castorama and Brico Depot in France, rose 3.6 per cent to £10.8bn, while the full-year dividend was lifted [...]
Success for the lucky few that don’t rely on the high street March 22, 2012 IT’S bleak out there on the high street, about that there is no doubt. Non-food sales volumes fell by 1.5 per cent in February compared to a month earlier (see facing page). With Christmas long gone and the heavily-discounted January sales a distant memory, consumers have little to look forward to. Inflation might be less [...]
B&Q boss set for windfall as goals met February 16, 2012 KINGFISHER boss Ian Cheshire is in line for a windfall payout after the retailer said it was on track to meet analyst forecasts for a full-year profit of £800m. Cheshire is likely to receive shares worth up to £6.14m, after the owner of the B&Q chain beat two main targets set out in its 2008 [...]
Banks steady FTSE but retailers dive January 12, 2012 The FTSE 100 index saw modest rises this morning as banks performed well in stark contrast to the retail sector which was pulled down by a string of poor results from heavyweights including Tesco. Investors were also digesting the results of a Spanish sovereign debt auction which showed yields going in a positive direction. Spain [...]
Banks drag FTSE down as UniCredit prices at discount January 4, 2012 CONCERNS over the Eurozone sent Britain’s top shares into reverse yesterday after the previous session’s sharp gains, as Italian lender UniCredit priced a rights issue at a huge discount, and a German bond auction failed to excite. The FTSE 100 fell 31.46 points, or 0.6 per cent, to 5,668.45, albeit in light volume, at 79 [...]
Travis Perkins buys out Toolstation from founder January 3, 2012 THE FOUNDER of Somerset-based hardware store Toolstation netted a £24m windfall yesterday after Travis Perkins – owner of DIY chain Wickes – bought the company. Mark Goddard-Watts set up the business in 2003 after leaving rival Screwfix, which he also founded, following its takeover by B&Q owner Kingfisher. Yesterday he sold the remaining 70 per [...]
FTSE falls on grim manufacturing data December 1, 2011 Investors’ sentiment dampened in London in early trading as negative factory figures from China put the brakes on yesterday’s market rises. The gains were fuelled by central banks moving to stimulate credit. China’s factory sector shrank in November for the first time in three years in the face of weakening demand both at home and [...]
Miners peg back FTSE as investors eye Slovak vote October 11, 2011 European shares slid this morning as investors eyed a key vote in Slovakia on whether it will back the Eurozone rescue package. The FTSEurofirst 300 index of top European shares was down 0.6 per cent while London’s blue chip index also edged down as miners opened weakly. Analysts said traders were cautious ahead of the [...]
Balfour Beatty snaps up firm of office fitters in deal worth £8m August 22, 2011 INFRASTRUCTURE giant Balfour Beatty has snapped up a firm of office fitters for £8m, it said yesterday. Office Projects Group, which has worked on Balfour projects in the past, specialises in fitting out British offices. It recently completed a £4.3m fit-out at the offices of Ignis Asset Management at 150 Cheapside. Other blue-chip clients include [...]