FTSE rallies after banks and retailers deliver good news April 13, 2011 THE UK’s top share index closed higher yesterday, boosted by retailers and banks after a sell-off on Tuesday described as “overblown”. At the close, the FTSE 100 was up 45.97 points, or 0.8 per cent at 6,010.44, recouping half of Tuesday’s 1.5 per cent drop and recapturing the 6,000 level. Banks gained after better-than-expected results [...]
FTSE rallies on strong corporate news March 25, 2011 Strong corporate earnings data have pulled stocks back to levels prior to Japan’s earthquake and tsunami crisis today despite fresh unrest spreading in the Middle East. The FTSE 100 closed up 0.34 per cent at 5,900.76 as traders bought into undervalued stocks and positive broker notes while remaining unfazed by geopolitical issues. “The speed of [...]
Partygaming moves closer to Bwin merger March 15, 2011 ONLINE gaming company PartyGaming has moved closer to its agreed merger with Austrian rival Bwin, confirming that the tie-up is planned to complete on 31 March. The merger was formally entered into the Vienna companies’ register yesterday, in a filing by Bwin. The Austrian company’s shares will cease trading on 25 March in anticipation of [...]
What the other papers say this morning March 1, 2011 FINANCIAL TIMES TOP 10 HEDGE FUNDS MAKE $28BN The top 10 hedge funds made $28bn for clients in the second half of last year, $2bn more than the net profits of Goldman Sachs, JPMorgan, Citigroup, Morgan Stanley, Barclays and HSBC combined, according to new data. Even the biggest of the hedge funds have only a [...]
The knock-on cost of pricey commodities February 27, 2011 Inflation is the word on everyone’s lips at the moment. RPI inflation – the measure that best reflects the true rise in the cost of living in the UK – is now at 5.1 per cent a year as producers raise prices to protect their profits. But even the biggest brand owners are struggling to [...]
Reckitt slides after profit misses target February 9, 2011 RECKITT Benckiser shares took a hit yesterday after the company’s fourth-quarter profit rose but fell short of forecasts. Shares in the maker of Dettol and Cillit Bang closed 5.1 per cent lower at 3,270p after it said net revenue rose ten per cent to £2.28bn, and like-for-like sales climbed five per cent. Pre-tax profit fell [...]
ANALYST VIEWS: WHERE IS RECKITT BENCKISER GOING WRONG? February 9, 2011 GRAHAM JONES | PANMURE Reckitt’s top line seems slightly weaker than expected. Pharma growth remains strong however, and the fact that Suboxone [heroin substitute] film strips have already grabbed 25 per cent of the market in the US is positive. It is a mixed picture with pharma muddying the waters. MIKE HUGHES | DATAMONITOR Reckitt [...]
FTSE slips as metal price drop weighs on mining firm shares February 9, 2011 BRITAIN’S top share index closed down yesterday, hurt by heavyweight stocks trading ex-dividend and miners following metals prices lower. The FTSE 100 closed down 39.04 points, or 0.6 per cent, at 6,052.29, having closed up 0.7 per cent on Tuesday at its best level since May 2008. “You have to consider (the FTSE 100) lost [...]
FTSE held back by blue-chips and miners February 9, 2011 London trading was weighed down by falls in major stocks trading ex-dividend, outweighing strong performances by financial stocks. The FTSE 100 closed down 0.64 per cent or 30.04 points at 6,052.29, as BP, GlaxoSmithKline, International Power, Royal Dutch Shell, Sage Group and Unilever all lost their payout attractions. “After Tuesday’s leap to multi-year highs, a [...]
Reckitt misses fourth quarter forecasts February 9, 2011 Consumer goods group Reckitt Benckiser said it is aiming for above industry growth in 2011 despite rising input costs and tough economies after fourth quarter earnings on Wednesday came below forecasts. The group, which makes Finish dishwash products, Cillit Bang cleaners and Nurofen painkillers expects sales to rise four per cent this year and operating [...]