FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
M&S sales rise but year ahead set to be harsh January 11, 2011 MARKS & SPENCER saw sales rise in the key Christmas period but the retailer warned that 2011 would be tough, with austerity measures and the spectre of inflation rises to take their toll. Same-store sales rose 2.8 per cent in the UK in the 13 weeks to 1 January despite the impact of the snow. [...]
Banks hoist FTSE back above 6,000 after a losing streak January 11, 2011 BANKS, lifted by upbeat broker comment, helped hoist Britain’s top share index back above the 6,000 level yesterday as investors shrugged off Eurozone debt worries for the time being. The FTSE 100 index closed up 57.73 points, or 1 per cent, at 6,014.03, snapping a three-day losing streak. Banks were the standout gainers after falls [...]
TOP RISES AND FALLERS January 11, 2011 BANKS, miners and energy firms did well yesterday as fears about European sovereign debt receded once more and as many brokerages and banks upgraded their recommendations. ARM holdings won the day, however, on the back of takeover rumours. Smith & Nephew, Marks & Spencers and Capital Shopping Centres all fell back. ARM holdings – 6.99 per cent Rumours [...]
Banks support FTSE amid broad-based gains January 11, 2011 LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded. Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03. It ended a three-day losing streak and stayed ahead of the 6,000 [...]
M&S sales up 4pc but warns of tough 2011 January 11, 2011 Marks & Spencer saw a four per cent rise in total UK sales in the 13 weeks to 1 January. Clothing was the best performer with a 4.7 per cent jump over the period. On a like-for-like basis UK sales were up 2.8 per cent. Chief Executive Marc Bolland said: “Marks & Spencer traded well [...]
BEST OF THE BROKERS January 10, 2011 TRAVIS PERKINS Numis raised the builder’s merchant to “add” from “buy” yesterday at a target price of 1,250p, expecting its acquisition of BSS to enhance its earnings per share by more than 13 per cent. The broker believes the combined group now looks cheap and supported by an improving industry backdrop, should continue to outperform. [...]
Ocado sales on track despite weather January 10, 2011 Online grocer Ocado reported a 26.7 per cent rise in December sales as the popularity of internet shopping and upmarket foods helped it to thrive despite disruption from severe winter weather. The loss-making group, whose shares have been on a roller-coaster ride since they floated in July, said the rise in December gross sales followed [...]
Leading firms to pledge jobs January 9, 2011 TOP British business leaders will today pledge to create thousands of jobs in the UK. The heads of leading British firms will meet today with Prime Minister David Cameron at Downing Street to discuss job creation in the private sector. Representatives from supermarket giants Asda, J Sainsbury, Tesco and Wm Morrison will join Marks and [...]
Tesco and Sainsbury’s boost UK market share January 9, 2011 THREE of the UK’s big four supermarket chains are reporting Christmas figures this week, with analysts expecting Tesco and J Sainsbury to have boosted their market share. Research company Kantar suggests that Sainsbury’s advanced its share of the British grocery market by 0.3 per cent to 16.4 per cent while Tesco saw a lift of [...]