FTSE extends gains as talk of takeovers boosts the market July 5, 2011 THE FTSE 100 rose for an eighth straight trading day yesterday, as earnings hopes lifted Tullow Oil and bid talk boosted Reckitt Benckiser. Tullow, up 3.8 per cent, said it expected to post record first-half revenues as it ramped up output in Ghana and also said it was a few weeks away from completing a [...]
Haye uncertain on future after Klitschko damp squib July 3, 2011 BRITAIN’S David Haye admits he is having second thoughts about retiring after losing his WBA heavyweight title to Wladimir Klitschko in Germany on Saturday night. Haye has long insisted he would quit the ring in October, when he turns 31, but refused to commit following his unanimous points defeat to the Ukrainian, who also holds [...]
New Look profit slumps 40pc after prices rise June 8, 2011 Fashion retailer New Look has admitted its performance over the past year was “disappointing” as it reported a 40 per cent slump in profits. The privately-owned retailer said group like for like sales fell 5.5 per cent over the year – and 7.1 per cent in the UK – after price rises for its budget [...]
There could be baa-bad news for retailers afoot June 6, 2011 DE-BLEAT-ING sheep numbers across the globe could have traders flocking into short positions on retail stocks later this year. Wool hit a 23-year high last week. Clothing retailers were decrying the increase yesterday, speculating on how long they can absorb the cost. The UK managing director of Hugo Boss Bernd Hake said that they would [...]
FTSE rallys on commodities but Eurozone doubts linger May 24, 2011 BRITAIN’S top shares rose yesterday as rallying commodity stocks helped the index recover some of its poise, but the advance may be short-lived as investors find themselves hemmed in by Eurozone debt concerns. The FTSE 100 closed up 22.52 points or 0.4 per cent at 5,858.41, having hit a two-month closing low on Monday after [...]
Miners buoy FTSE but ratings threat casts shadow May 24, 2011 Mining stocks put the FTSE 100 on the front foot in early trading as metal prices rose – boosted by Goldman Sachs recommending investors to buy into commodities. Commodities trader Glencore made its full market debt and rose slightly from its price on the so-call grey market, but remained below the 530p offer price of [...]
Earnings successes still marred by inflation May 2, 2011 THE past week has seen global equity markets, especially in the US, boosted by better than expected corporate earnings. Investors moved further back into equities, betting once again that sovereign debt, nuclear troubles in Japan and higher commodity prices won’t turn out to be sufficient headwinds to blow corporates off course. In Britain, the impact [...]
AB Foods hit as costs take toll on profit April 27, 2011 PRIMARK owner AB Foods yesterday saw its shares tumble as it warned that its full-year profit would be dented by soaring costs. The company said it expected full-year profits to be similar to those last year, as it announced its half-year results. It had previously expected annual earnings to rise. Profit for the six months [...]
ANALYST VIEWS: CAN AB FOODS RETURN TO GROWTH AS COSTS RISE? April 27, 2011 JEREMY BATSTONE-CARR | CHARLES STANLEY We have long held AB Foods management in high regard and admire the candour with which the company faces up to its operational challenges. However, we will be lowering our earnings estimates in the light of these results and believe that the shares’ rating leaves little to go for. ANDREW [...]
FTSE flat as investors await news of Fed’s monetary policy April 27, 2011 BRITAIN’S top share index ended flat yesterday ahead of Federal Reserve Chairman Ben Bernanke’s news conference which could provide clues on the Fed’s future plans for its monetary policy. The blue-chip FTSE 100 was down 1.2 points or 0.02 per cent at 6,068.16, having hit a 9-week closing high on Tuesday. Volume was only 87.6 [...]