FTSE rally loses steam as energy stocks dip January 20, 2012 The FTSE 100 edged down this morning as energy and resource stocks pinned the market back after solid gains over the week. Greece and its private bondholders resumed debt swap talks today amid signs they are edging towards the deal needed to prevent a chaotic default by Athens. That helped to give financial stocks a [...]
Primark helps AB Foods lift its revenues January 19, 2012 DISCOUNT fashion chain Primark hailed strong sales during the festive period, helping its parent company Associated British Foods (ABF) post a rise in first quarter revenue. The FTSE 100 company, which also owns brands including Silver Spoon sugar and Twinings tea, said a 16 per cent growth in sales at Primark helped boost group revenues [...]
ANALYST VIEWS: IS ASSOCIATED BRITISH FOODS ON TRACK? January 19, 2012 GRAHAM JONES | PANMURE GORDON Associated British Food is our top large-cap pick for 2012, and believe this statement supports our thesis of strong earnings per share growth this year, albeit second-half weighted. We strongly reiterate our “buy” recommendation. MARTIN DEBOO | INVESTEC This felt like a decent quarter to us, with Primark and Sugars [...]
AB Foods sales surge fuelled by Primark January 19, 2012 Associated British Foods has reported a 12 per cent lift rise in total sales in the 16 weeks to 7 January, thanks to “exceptional” performances at its sugar division and at discount fashion chain Primark. The group said higher prices and higher production levels meant that total revenues from sugar rose 21 per cent, while [...]
FTSE rally ends as investors eye Eurozone bond auctions January 11, 2012 The rally on the FTSE 100 yesterday stalled in early trading today as concerns over upcoming Eurozone bond auctions and slightly weaker commodity stocks took their toll. Heavyweight miners failed to keep up the gains made yesterday which were fuelled by positive data from China showing the country’s demand for metals had risen. Wall Street [...]
CITY MOVES | WHO’S SWITCHING JOBS December 18, 2011 The Miles Partnership Sue Shipley is to join the search firm as a partner to specialise in retail. Shipley was previously the global practice leader at Odgers Berndtson, where she led successful searches for the chief executives of Primark and Thorntons, the managing director of Wickes, and the director general of the British Retail Consortium. [...]
Review to slam out of town retail December 11, 2011 RETAIL expert Mary Portas, who is charged with saving the ailing British high street, is tomorrow set to unveil a list of proposals including new taxes on out-of-town car parks, a “town centre first” policy and plans for a national market day. The high street review, commissioned by Prime Minister David Cameron seven months ago, [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
FTSE holds gains as Italy nears crisis November 8, 2011 BRITAIN’S top share index rose yesterday, as earnings from UK corporates such as Lloyds Banking Group and Vodafone were received positively by investors, although Eurozone worries meant gains were vulnerable to profit taking. Miners and integrated oils, rising with commodity prices, also helped the UK’s benchmark index close up 56.52 points, or one per cent [...]
Sugar arm is sweet spot for AB Foods November 8, 2011 RECORD profits at Associated British Foods’ (ABF) sugar arm have helped offset weaker results at its discount-clothing chain Primark, which was hit after the group chose not to pass the rise in cotton prices onto shoppers. Primark’s profits slumped by eight per cent to £309m in the year to 17 September, after its operating profit [...]