BEST OF THE BROKERS February 28, 2011 ENRC Morgan Stanley rates the miner “overweight” with a target price of £14. The broker believes that rising ferrochrome spot prices could give a lift to 2011 earnings of between five and seven per cent, and thinks that consensus upgrades could be higher still. Morgan Stanley adds that ENRC’s leverage to iron ore still looks [...]
Banks pull FTSE 100 down while resources make gains February 28, 2011 THE FTSE 100 share index fell slightly yesterday as disappointing results from HSBC and Associated British Foods outweighed strength from miners on optimism about the global economy. The blue-chip index ended 7.19 points, or 0.1 per cent lower, at 5,994.01, after it closed 1.4 per cent higher on Friday at 6,001.20, bouncing back after five [...]
Ocado hit by boss share sale February 21, 2011 OCADO shares took a tumble yesterday after chief executive Tim Steiner sold £5m worth of Ocado stock. Steiner’s move – plus the announcement that Waitrose was planning to revamp its own online delivery service – saw the stock close down 7.75 per cent at 239p. Waitrose, which has a ten-year contract with Ocado to supply the [...]
Hopes of revival for financial sector drives the FTSE higher February 16, 2011 BRITAIN’S leading share index rallied yesterday, powered by banks, on hopes for further upbeat earnings in the sector after Barclays and French peer Societe Generale set the standard. HSBC gained 2.8 per cent, Royal Bank of Scotland rose 4.3 per cent and Barclays, which reported results on Tuesday, was up 1.0 per cent. Societe Generale [...]
Co-operative supermarket campaign a winner February 15, 2011 ON this page we often assess the impact that crisis or events have on brands but BrandIndex is more generally used for measuring the success or otherwise of advertising with the daily tracking allowing us to study the initial impact and also the wear-out rate. One of the more interesting campaigns this year has been [...]
Morrisons in £70m deal to join web war February 15, 2011 WM MORRISON yesterday announced that it had finally taken the plunge into online retail, splashing out £70m on baby goods firm Kiddicare. The supermarket giant has so far resisted the move to the web while rivals like Sainsbury’s, Tesco and Asda see online sales as vital to their financial health. But the purchase of Kiddicare [...]
Family makes fortune look like child’s play February 15, 2011 THE family behind Kiddicare will share a £70m pot between them after their fast expanding business caught the eye of supermarket giant Wm Morrison. Family-run Kiddicare was founded in 1974 by Neville and Marilyn Wright, and is now run by their daughter, Elaine Weavers-Wright and her husband Scott. Kiddicare originally traded as Rainbow, a supplier [...]
Commodities dent FTSE 100 despite strong banking stocks February 15, 2011 BRITAIN’S s top share index closed lower yesterday as strength in banking stocks, inspired by forecast-busting results from Barclays, was outweighed by a broad retreat in the mining sector on commodity price wobbles. The FTSE 100 index closed down 23.01 points, or 0.4 per cent, at 6,037.08. The FTSE 250, FTSE 350 and AIM 100 [...]
Disappointing economic data keeps markets in the red February 15, 2011 The FTSE has spent the day in the red and closed down 0.38 per cent at 6,037.08 after disappointing US economic data and news. Miners were also led down by news from China, where an above-target 4.9 per cent increase in inflation raised the prospect of further interest rate rises. Banks were buoyant, though, [...]
Morrisons buys baby care website for £70m February 15, 2011 Wm Morrison Supermarkets, the country’s fourth-biggest grocer, is buying online baby products retailer Kiddicare for £70m to kick-start an online business selling non-food goods. Morrison said the deal would give it a technology platform and distribution centre to develop an online non-food business, launching its first products in 2012. The move is part of chief [...]