Retailers hit back over BBC claims December 22, 2010 THE British Retail Consortium (BRC) has branded a withering attack on supermarket expansion broadcast on the BBC’s Panorama last night as “misleading”. Programme makers indicate that the UK’s major grocers are growing more quickly than ever, suggesting that one of Tesco, Asda, Sainsbury’s and Morrisons effectively gets planning permission for a new store “every working [...]
Banks give FTSE a boost as pre-Christmas rally continues December 22, 2010 BRITAIN’S leading share index pushed higher yesterday, supported by gains from banks as reports China is ready to buy Portuguese bonds eased European debt concerns. At the close, the FTSE 100 was up 31.69 points, or 0.5 per cent, at 5,983.49, edging ever closer towards the 6,000 level last seen in June 2008. The blue [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
Euro worries push banks down, leave FTSE flat December 15, 2010 THE FTSE tipped up to 5897 briefly this afternoon but sank again to close flat at 5882, dogged by Eurozone worries and poor performances by the banks. Barclays was the top FTSE100 faller, down 3.7 per cent as worries resurfaced over European sovereign debt, caused by Moody’s announcement that it was reviewing Spain’s credit rating, [...]
Banks propel FTSE upwards after interest rates decision December 9, 2010 BANKS helped Britain’s top shares rise yesterday after the Bank of England kept interest rates and quantitative easing measures unchanged, while US jobs figures raised hopes that a recovery was under way. The FTSE 100 was up 13.43 points, or 0.2 per cent, at 5,807.96, eradicating Wednesday’s losses, though gains were muted, with some traders [...]
Chains boosted by festive spending on crisps and drink December 7, 2010 SALES of groceries at the major supermarket chains jumped in the final weeks of November, in a boost for the retail sector. J Sainsbury was the strongest performer with 6.8 per cent growth. There was 4.8 per cent growth on average across the board, according to the figures from retail analysts Nielsen. Chains outside the [...]
FTSE 100 surges on gains by commodities and financials December 2, 2010 BANKS and commodity stocks powered strong gains for Britain’s top share index by close yesterday, on increasing optimism about the global economy and investor confidence that the Eurozone debt crisis would be contained. The FTSE 100 index ended up 125.06 points, or 2.2 per cent, at 5,767.56, a second straight session of strong gains. It [...]
Taylor hangs for sale sign on US branch November 29, 2010 HOUSEBUILDER Taylor Wimpey is putting its North American subsidiary Taylor Morrison up for auction, and has hired JPMorgan Chase to advise on the sale, the company confirmed last night. The FTSE 250-listed company, which recently completed a £950m refinancing, has asked JPMorgan, one of its corporate brokers, to gauge market appetite for acquiring the US [...]
Taylor Wimpey begins £250m bond offering November 22, 2010 HOUSEBUILDER Taylor Wimpey rounded off its refinancing plan yesterday by announcing a new £100m debt facility and plans to sell £250m of five-year bonds. The news follows on from the firm’s £950m credit facility, which was announced last week as the last act by outgoing chief financial officer Chris Rickard. Prudential’s M&G UK Companies Financing [...]
FTSE hits a three-week low as fears of debt contagion in Eurozone take hold November 22, 2010 BBRITAIN’S top share index closed lower yesterday, hurt by banks and commodity stocks as initial upbeat sentiment over Ireland’s bailout subsided, giving way to fears over potential problems in other Eurozone countries. The FTSE 100 closed down 52 points, or 0.9 per cent, at 5,680.83, its lowest since October 29, retreating from 5,783.14 earlier in [...]