Barclays leads FTSE to top day of month so far February 12, 2013 ASURGE in Barclays’ shares led the FTSE 100 past the psychologically important 6,300 level yesterday, as the blue chip bank’s planned overhaul raised hopes for the troubled sector’s revival. Barclays gained 8.4 per cent, leading FTSE 100 gainers and adding over 12 points to the index alone, after unveiling plans to slash annual costs by [...]
Market braced for bad news in Inflation Report February 10, 2013 ECONOMISTS have warned that markets should be braced for bad news this week as the Bank of England releases its quarterly update on the UK’s financial outlook. “The upcoming Inflation Report is likely to project that inflation will still be clearly above the two per cent target two years ahead, and perhaps not even back [...]
FTSE 100 slips as miners lead index down January 4, 2013 The blue chip index was broadly flat in early deals, as it failed to replicate its landmark day of trading on Wednesday. The FTSE 100 edged down by around 0.15 per cent this morning. Miners led the way down as worries that the US Fed might halt its monetary easing programme and concerns over US [...]
Santa rally stumbles as FTSE 100 flat December 20, 2012 The Santa rally stumbled this morning, as the blue chip index remained flat in early trading, stalled by tensions in US budget talks. Yesterday, the FTSE 100 closed just four points behind the year’s highest closing mark. The ongoing Libor scandal, which continued in the spotlight for another day as two UBS traders were charged, [...]
Reckitt secures healthy boost with Schiff deal November 22, 2012 CONSUMER products group Reckitt Benckiser is to acquire Schiff Nutrition for $1.4bn (£878m). The board of Schiff Nutrition, which sells vitamins, nutrition supplements and nutrition bars, has approved the transaction at $42 a share and recommended shareholders agree the deal. The FTSE 100 consumer group will finance the deal using cash and existing credit facilities. [...]
What the other papers say this morning November 20, 2012 FINANCIAL TIMES TNK-BP fails in London civil suit bid TNK-BP, Russia’s third-largest oil producer and the subject of a high-profile sale, has failed in its attempt to sue a former director for civil fraud in English courts. A €39m (£31m) freezing order gained by TNK-BP on its former head of logistics, Igor Lazurenko, his wife, [...]
Reckitt close to Schiff takeover November 20, 2012 Reckitt Benckiser said yesterday it looked forward to clinching a deal to buy US vitamin maker Schiff Nutrition after rival bidder Bayer announced it would not increase its offer. Reckitt last week trumped Bayer’s $1.2bn (£754m) agreed deal to buy Schiff with a higher offer of $1.4bn. “Our original tender offer still stands and we [...]
Reckitt shoves aside Bayer as bids $1.4bn for Schiff Nutrition November 15, 2012 UK CONSUMER and healthcare company Reckitt Benckiser made a rival $1.4bn offer for Schiff Nutrition International yesterday, topping Bayer AG’s agreed $1.2bn deal to acquire the U.S. vitamin maker. Reckitt proposed to pay $42 for each Schiff share, a 23.5 per cent premium over the $34 per share that Bayer, Germany’s biggest drugmaker, agreed to [...]
Best of the Brokers October 25, 2012 HOME RETAIL GROUP UBS maintains its “buy” rating for the consumer goods retailer, raising its target price from 115p to 120p. The broker will not change full-year 2013 PBT and outer year estimates. APR ENERGY Seymour Pierce has downgraded the power provider from “hold” to “reduce,” lowering its target price to 650p from 685p. The [...]
Reckitt profits from emerging markets boost October 24, 2012 SHARES in Reckitt Benckiser climbed higher yesterday after the maker of Finish dishwasher tablets and Nurofen painkillers said strong emerging markets growth helped push third quarter like-for-like sales up by five per cent. Chief executive Rakesh Kapoor said the group had seen an “excellent” performance from emerging markets, and an improved performance in Europe and [...]