THE TIPSTER September 29, 2010 GOLD has continued to rally strongly. With increased uncertainty ahead of companies’ October quarterly figures and the current weakness in the US dollar, we could still see further upside in the precious metal. If it dips down to $1,305, it might well be worth picking up some long positions with a view to closing the [...]
PwC first to add senior City figures to the board September 26, 2010 ACCOUNTING firm PwC is set to become the first accountancy practice to add independent directors to its board after the appointment of three senior businessmen as non-executive directors. Former Rio Tinto chairman, Paul Skinner will be joined by WM Morrison chairman Sir Ian Gibson and Cable & Wireless chairman Sir Richard Lapthorne as independent directors [...]
Commodities drag FTSE 100 down as US output eases September 15, 2010 COMMODITY stocks pulled Britain’s top shares lower yesterday as US data showed a sharp slowdown in industrial output, and after investors switched into the dollar after The Bank of Japan’s yen intervention and recent sharp gains. The FTSE 100 index closed down 11.85 points, or 0.2 per cent at 5,555.56, snapping a five session winning [...]
BEST OF THE BROKERS September 15, 2010 ARM Execution Noble thinks it’s time for a breather on the technology company, and downgrades the stock to a “sell” with a fair value of 300p. The broker says that ARM remains well placed to outperform the semi-conductor industry, and will continue to expand into new end markets, but the current value of 29 times [...]
Stuart Rose set to join Bridgepoint September 13, 2010 OUTGOING Marks & Spencer boss Sir Stuart Rose will join private equity group Bridgepoint as an adviser, the firm will announce today. The controversial M&S chairman will take a place on the Bridgepoint advisory committee, which is chaired by former chief secretary to the treasury Alan Milburn. A Bridgepoint spokesman told City A.M. Rose is [...]
Morrisons in move towards online sales September 9, 2010 SUPERMARKET giant Morrisons has reported pre-tax profit of £412m for the first half of the year – as it confirmed that it was considering a move into retail. The profit was eight per cent down on the same period last year, but in line with forecasts. Underlying profit was up taking into account a one-off [...]
ANALYST VIEWS: HOW HAS MORRISONS DONE IN ITS FIRST SET OF RESULTS UNDER NEW BOSS DALTON PHILIPS September 9, 2010 SAM HART | CHARLES STANLEY New chief executive, Dalton Philips, came across very well on his first outing in front of the analyst community. His strategic update highlighted a number of opportunities to drive the top line and improve operational efficiency. We expect Morrison to deliver low double-digit growth in underlying JONATHAN JACKSON | KILLIK [...]
Morrisons eyes move into online grocery September 9, 2010 Supermarket giant Morrisons has reported pre-tax profit of £412m for the first half – as it confirmed that it was considering a move into online retail. The profit was eight per cent down on the same period last year, but in line with forecasts. Underlying profit was up taking into account a one-off payment in [...]
Ocado September 7, 2010 OCADO chiefs were yesterday upbeat about the company’s prospects and had seemingly justifiable reasons for optimism with an almost 30 per cent sales hike. But the figures cannot be looked at in isolation and come on the back of a torrid flotation which saw chief executive Tim Steiner and crew pitched against some analysts who [...]
Ocado sales surge by 30pc after flotation September 7, 2010 ONLINE grocer Ocado reported a 30 per cent jump in third-quarter sales as it seeks to boost confidence in the business following a turbulent initial public offering (IPO) in July. Ocado, whose shares are trading 13 per cent below an IPO price which had already been cut by almost a quarter from the company’s original [...]