FTSE down as investors look again at weak Eurozone data February 22, 2012 BRITAIN’S leading share index edged lower yesterday as investors refocused on fundamentals, specifically weaker-than-expected Eurozone data, with the Greek debt restructuring theatricals out of the way for now. Recession concerns increased after data showed the Eurozone’s service sector unexpectedly shrank in February, with Europe being Britain’s main market for its goods. “The FTSE ends the [...]
FTSE hits six-month high fuelled by Greek deal February 13, 2012 The FTSE 100 climbed 0.9 per cent to a six-month high of 5,905.7 as investors’ confidence was buoyed by Greek politicians finally approving a new set of austerity measures. However, the move triggered civil unrest on the streets of Athens with the most violent clashes since the country’s disastrous financial situation was laid bare. The [...]
Emerging markets push comes too late February 8, 2012 WHEN times get tough, branded products are the first things to go. British consumers know there is little difference between Fairy and a supermarket’s own-label washing up liquid. The trend is more pronounced among younger consumers, who will protect luxuries such as their iPhone and designer clothes by buying staples from the supermarket economy ranges. [...]
Reckitt looks for growth in new regions February 8, 2012 BRITISH consumer goods group Reckitt Benckiser is to launch a major sales push into fast-growing emerging markets, with a focus on health and hygiene brands like Nurofen and Dettol, to offset sluggish European and North American markets. New chief executive Rakesh Kapoor, who took over last September after Bart Becht’s shock decision to retire, said [...]
Investors waiting for Greece put the brakes on FTSE rally February 8, 2012 BRITAIN’S blue chips closed a touch lower yesterday as investors awaited more clarity on a Greek debt deal. Greek party leaders gathered to agree reforms needed to secure a new EU/IMF rescue package necessary to avoid a chaotic default that would aggravate Europe’s financial crisis. Rating agency Standard & Poor’s added pressure on negotiations between [...]
Miners buoy FTSE as Greece remains on knife edge February 8, 2012 The FTSE 100 opened on the front foot this morning as investors continued to cling onto hopes that Greece could be steered away from financial meltdown. Greek party leaders were set to meet again today to hammer out a reform deal in return for the new €130bn rescue from the IMF and EU. Leaders of [...]
Reckitt Benckiser profits up as firm plots expansion February 8, 2012 British consumer goods group Reckitt Benckiser announced fourth quarter profits were up eight per cent at £546m as it launched a major push into emerging markets to offset sluggish European and North American sales. The firm – responsible for brands including Durex, Finish and Vanish – saw revenues increase to to £2.4bn for the quarter and [...]
DS Smith in £1.3bn deal for packager January 17, 2012 DS Smith is buying the recycled packaging operations of Svenska Cellulosa Aktiebolaget for €1.6bn (£1.3bn) in a move to secure more business from the world’s top consumer goods companies. The company said the acquisition, which excludes two mills in Sweden that use virgin pulp, would be financed by a combination of debt and £466m from [...]
BEST OF THE BROKERS January 10, 2012 RECKITT BENCKISER Credit Suisse rates the consumer goods group “outperform” but has cut its target price from £40 to £38. The broker thinks Reckitt’s business model is still healthy, and that concerns over the sustainability of its margins have been overdone. The firm is suffering somewhat in Europe due to expanding rivals, though Credit Suisse [...]
CITY MOVES | WHO’S SWITCHING JOBS January 2, 2012 Bank of Ireland Bank of Ireland has appointed Patrick Mulvihill and Pat Butler as non-executive directors. Butler (pictured), who will join the bank’s risk committee and the nomination and governance committee, is a partner at Resolution Group and a former senior director of McKinsey & Co. Mulvihill, who will join Bank of Ireland’s risk committee [...]