PayPoint eyes growth as new chair named February 5, 2014 UK PAYMENTS service PayPoint, a fixture at many corner shops across London, yesterday announced the appointment of Warren Tucker as chairman of the company, succeeding David Newlands. The FTSE-250 listed group’s services include utility payments at over 25,000 corner stores, click and collect parcel delivery from online retailers to over 5,000 shops and the PaybyPhone [...]
Best of the Brokers for 05 December 2013 December 4, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com RECKITT BENCKISER UBS has reversed its rating on the consumer goods group from “buy” to “sell” and cut its target to 4,550p from 5,210p. The broker thinks the company’s excess cash flow will be used for acquisitions and not paid out to investors. [...]
Bottom Line: Giving up the drug is the right move but one that’s hard to price October 23, 2013 WITH a portfolio comprising everything from mosquito repellents to hair removal cream and dishwasher tablets, Reckitt’s position as a branded consumer goods company is undisputable. But for years now it’s had a bit on the side – a pharmaceutical arm that produces one thing only, a drug called Suboxone that’s used as a replacement in [...]
Reckitt puts for sale sign over drugs business October 22, 2013 SHARES in Reckitt Benckiser surged more than five per cent yesterday after the consumer giant effectively put its pharmaceuticals arm up for sale, in a deal that could raise more than £2bn. The FTSE 100 group said yesterday it has launched a strategic review of its RBP unit, which is focused on the drug Suboxone, [...]
Bottom Line: Giving up the drug is the right move but one that’s hard to price October 22, 2013 WITH a portfolio comprising everything from mosquito repellents to hair removal cream and dishwasher tablets, Reckitt’s position as a branded consumer goods company is undisputable. But for years now it’s had a bit on the side – a pharmaceutical arm that produces one thing only, a drug called Suboxone that’s used as a replacement in [...]
London Report: FTSE at highest close since May on good results October 22, 2013 THE FTSE 100 scaled five-month highs yesterday, supported by expectations the US Federal Reserve will not trim stimulus any time soon and by a crop of strong updates from the likes of Reckitt Benckiser. A disappointing US jobs report suggested that momentum in the world’s top economy had already started to slow in September. With [...]
London Report: GDP figures and housing prices reveal recovery October 20, 2013 GROSS domestic product (GDP) figures due on Friday are expected to reveal the UK’s solid recovery prospects, coupled with further good news from Nationwide and Rightmove housing figures earlier in the week. Analysts predict further improvement in the economy, with third quarter GDP expected to rise. “We expect GDP to rise 0.8 per cent quarter-on-quarter. [...]
London Report: FTSE stages late rally on hopes of US resolution October 16, 2013 EXPECTATIONS of an imminent deal in Washington to avert a US debt default sparked a late turnaround on Britain’s top share index yesterday. London’s blue chip index rallied off a session low of 6,504.27 to close up 22.48 points, or 0.3 per cent at 6,571.59 after a senior Senate Democrat aide said negotiations on legislation [...]
Bottom Line: This is just the start of the dreaded slowdown October 1, 2013 IT DOESN’T seem to matter what Unilever is selling. From Dove deodorant to PG Tips and Pot Noodles, the group’s emerging markets customers aren’t buying. Except that’s not strictly true. Monday’s profits warning from the consumer goods group didn’t say that sales are set to have fallen in the third quarter, just that growth will [...]
London Report: FTSE kept flat by Unilever and gold price slide October 1, 2013 LONDON’S top share index closed flat yesterday, as weakness in the gold price and poor sales from Unilever hit miners and consumer staples. The FTSE 100 edged down 2.21 points at the close, flat in percentage terms, to 6,460.01, with mining and consumer staples wiping more than 26 points off the index. Fresnillo fell five [...]