NIKKEI INDEX STRUGGLING TO ADVANCE November 30, 2009 DAVID MORRISONCFD MARKET STRATEGIST, GFT WHILE US stock indices look relatively buoyant, there are a number of major global markets that are currently struggling to make further headway. In Europe, the French CAC 40, Spanish Ibex and German Dax are trading in tight ranges and failing to break above resistance at significant retracement levels. Meanwhile, [...]
Concern over Dubai’s debts takes toll on Britain’s shares November 26, 2009 Britain’s top shares ended at a three-week closing low yesterday, pressured by hefty falls in the banking sector as concerns over Dubai’s ability to pay its debts took a toll on confidence. The FTSE 100 ended down 3.2 per cent, or 170.68 points, at 5,194.13, its lowest close since November 6, and losses on the [...]
SMALL CAPS SHOW MAIN STREET WOES DAVID MORRISON November 23, 2009 WHILE many stock indices in the US and Europe hit fresh yearly highs last week, a flick through the charts points to a loss of upward momentum. The trend for most major indices remains positive, but despite a strong rally following the dip at the end of October, the markets are looking tired. Focusing on [...]
Bolland’s exit creates a gap November 22, 2009 Marc Bolland’s defection from WM Morrison to Marks & Spencer may have signalled the end of one succession saga – but has promptly sparked another, as the City clamours to predict who will fill the Dutchman’s shoes. Bolland is widely credited with transforming Morrison’s after its problematic acquisition of Safeway in 2004. When news broke [...]
ITV and M&S bosses can add long-term value November 22, 2009 Last week two of the UK’s biggest companies named new leaders. The appointments added hundreds of millions of pounds to the value of the businesses. But how much long-term value can a new boss add? Consider the pedigree of the men in question; both undoubtedly impressive. Marks & Spencer snared Marc Bolland as its new [...]
Sales grow at Morrisons November 19, 2009 WM Morrison yesterday unveiled strong third quarter sales, a day after the City and investors were left reeling from the shock departure of its chief executive Marc Bolland. The group said like-for-like sales rose 4.3 per cent in the 13 weeks to 1 November, just below expectations, as slowing food inflation pegged back growth from [...]
WANTED: STEADY HAND AT THE TILL November 19, 2009 THE departure of Wm Morrison boss Marc Bolland won’t blow the supermarket off course, retail experts said yesterday as the Bradford-based company posted another set of strong sales figures and customer growth. With Bolland sidelined ahead of taking the reins at Marks & Spencer in January, finance director Richard Pennycook took responsibility for yesterday’s trading [...]
THIS IS NOT JUST ANY CHIEF EXEC… November 18, 2009 MARKS & Spencer yesterday stunned the City by naming WM Morrison’s successful boss Marc Bolland as its new chief executive. The shock move was widely welcomed by investors in M&S – but Morrisons’ shareholders suffered heavy losses. Sir Stuart Rose, who has been holding the position of executive chairman in defiance of corporate governance rules, [...]
A general election cannot come too soon November 18, 2009 IF only life were this easy. So the markets are saying that the budget deficit is far too high? Simple, you pass a law stating that it must be cut and then abolished over the next few years (when you are no longer in power) – and then make speeches extolling your own virtues and [...]
M&S and ITV brighten up dull day of trading for FTSE November 18, 2009 THE UK’s main market ticked down slightly yesterday, as an unexpected drop in US housing figures spooked investors and weakness in food retailers and tobacco firms outpaced gains in miners and energy companies. The FTSE100 closed 0.1 per cent lower at 5,342.13 with Cable & Wireless, Unilever, Vodafone and HSBC going ex-dividend. Marks & Spencer [...]