London Report: Lacklustre trade leaves FTSE 100 treading water September 12, 2013 SUPERMARKET chain Wm Morrison was among the top gainers on the UK’s FTSE 100 yesterday after posting its first-half results but the index continued to toil around the 6,600 level. Wm Morrison Supermarkets rose 1.8 per cent with traders citing dividend, outlook, and valuation attractions as a trigger for short covering after the firm’s first-half [...]
Ocado sees sales swell ahead of Morrisons partnership September 12, 2013 It's been a really good 12 weeks for Ocado with confirmation that they'll be partnering up with Morrisons from early 2014. The e-grocer has seen gross sales up 18.8 per cent on the same 12 weeks to mid-August last year, reaching £189.2m (release). Orders are also looking more healthy. Per week numbers have risen 15.3 [...]
Morrisons tops FTSE despite profit decline as supermarket remains confident of second half bounce September 12, 2013 Supermarket Morrisons has seen its pre-tax profits drop from £440m to £344m in the half year to 4 August (release). The announcement also includes a 10 per cent decline in underlying profit to £401m. We anticipate an improvement in our sales performance during the second half and accordingly the Board believes the Group's performance for [...]
Snoozebox hopes to make beds for hospitals and local authorities September 10, 2013 PORTABLE hotel company Snoozebox hopes that a move into construction sites, hospitals and temporary housing will bed down the new management’s plans for growth. The company, which started life offering beds in shipping containers during motoring events, is hunting for new business after replacing its top team in April amid “serious financial and commercial issues”. [...]
AMEC wins £200m Welsh contract September 9, 2013 FTSE 100-listed engineering firm AMEC yesterday said that it has been awarded a five-year £200m contract extension with its partner, utility service contractor Morrison Utility Services, to maintain gas distribution networks for Wales & West Utilities until 2018. “This successful alliance will remain focused on delivering WWU’s business objectives,” said Marc Boulter, MD of AMEC’s [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
London Report: UK retailers set to reveal if tills ringing again September 8, 2013 RETAILERS are set to reveal this week how big an impact the UK recovery is making as consumers return the shops. Reports from Dunelm, Home Retail, Morrisons, Next, Ocado and Sports Direct will show how confident buyers are in the improving economy. Ocado, which will update the market on Thursday, was rated a “buy” by [...]
Before the open – 05/09 September 5, 2013 It's central bank rate decision day across Europe, with both the Bank of England and European Central Bank announcing policy this afternoon. The FTSE is expected to rise slightly on news that the US is growing at a "modest to moderate" pace from yesterday's Beige Book update. #FTSE called up 20. Generally firmer tone for [...]
Before the Open – 02/09 September 2, 2013 There's some continued uncertainty as we head towards the open this morning. US President Obama's comments over the weekend have prolonged a decision over Syrian, keeping markets jittery. CMC Markets' Michael Hewson: Europe's markets look set for a positive start as oil prices fall back and economic data comes back into focus. We've got a [...]
Before the open – 30/08 August 30, 2013 It's the last trading day of the month – and it looks the FTSE will close down this August. The index closed at 6621.10 on 31 July, and saw its monthly peak the next day at 6682.00. Opening at 6483.05, it seems very unlikely that anything dramatic will happening on what looks to be a [...]