FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
Marks & Spencer shakes up its general merchandising team September 4, 2012 MARKS & SPENCER yesterday said it has hired Stephanie Chen, a senior director at House of Fraser, to be its new director of kidswear and home, as it revealed a shake-up of its general merchandising team. The retailer said John Dixon had made changes to the team as he prepares to take up his new [...]
The Tipster | WM Morrison may get shopped September 3, 2012 THIS week, supermarket chain WM Morrison will announce its latest half-year numbers for 2012. Expectations are for a decline as a result of fiercer competition in its northern heartland. CMC Market’s price on WM Morrison is 276.97-277.63p. Transport firm Go-Ahead reports full-year figures on Thursday, and the general expectation is that the trains and buses [...]
Best of the Brokers August 28, 2012 MAX PETROLEUM Merchant Securities has changed its recommendation on the Kazakh-focused oil & gas company to “sell” from “hold” and lowered its targetr price on the stock from 4.8p to 3.1p following a writedown of 2.7m barrel reserves and knock-on effect of the reduction on half-year resevre figures. The broker is also concerned that there [...]
THE TIPSTER | Diageo set to toast sales August 20, 2012 THE international spirits maker and brewer, Diageo, will report earnings on Thursday. Currently on the cusp of buying Jose Cuervo tequila, the share price has increased by 13 per cent over the last six months and 50 per cent year-on-year. As with its last earnings report, it appears that the majority of revenue for the [...]
Next shrugs off rain and beats profit forecasts August 1, 2012 SHARES in Next leapt almost seven per cent yesterday after the fashion retailer raised its profit guidance and beat targets for first-half sales growth, boosted by a stellar performance at its online Directory business. The company, which trades from over 500 stores in the UK and Ireland and nearly 200 stores overseas, said total sales [...]
British Land acquires mall July 31, 2012 BRITISH LAND yesterday said it has bought a 50 per cent share in the Eden Walk shopping centre in Kingston-upon-Thames for £41.5m. The firm bought the stake in the 1960s mall from the Universities Superannuation Scheme, its partner on Whiteley Shopping Centre in South Hampshire, which is due to open next year. The pair plan [...]
Fee paying banking will be a very tricky sell July 22, 2012 MARKS & SPENCER ruffled some feathers last week when it announced that it would be charging for the use of its current account – between £15 and £20 a month, depending on whether you want insurance included. In return, customers will receive vouchers for free hot drinks in M&S cafés, M&S vouchers worth £40 and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 17, 2012 FINANCIAL TIMES M&S to charge for current accounts Marks and Spencer is set to become the first UK bank to shun free current accounts as it plans to charge all customers a monthly fee for banking services when it launches later this year. The retailer said it would offer two accounts, priced at £15 and [...]
M&S shakes up management as sales slump July 10, 2012 MARKS & SPENCER announced a raft of management changes yesterday and confirmed that its head of general merchandise Kate Bostock is to leave, as the retail giant revealed its worst quarterly sales figures in years. The company said Bostock will be leaving by mutual consent on 1 October and will be succeed by John Dixon, [...]