Reckitt Benckiser July 21, 2010 WHAT a difference a couple of years makes. Back then, SSL was trading at 400-500p and Reckitt was said to be sniffing around. Its shareholders will wish it made its move then: its hefty £1,171p per share offer – equivalent to 18 times forecast ebitda in the year to March 2011 – is going to [...]
London breaks five days of losses on strong US earnings July 21, 2010 BRITAIN’S leading shares broke a five-day losing streak yesterday after upbeat corporate earnings from the US and positive mergers and acquisitions sentiment spurred a rebound, led by banks and commodities. The FTSE 100 closed up 75.18 points, or 1.5 per cent, at 5,214.64, having shed 2.5 per cent over the previous five sessions. UK Banks [...]
Reckitt Benckiser in £2.5bn takeover deal for SSL July 21, 2010 CONSUMER goods group Reckitt Benckiser has agreed to buy Durex condoms and Scholl sandals maker SSL International for £2.5bn ($3.8 billion) to increase its presence in health and personal care. The Anglo-Dutch maker of Nurofen painkillers, Strepsils and Lemsip cold remedies, said SSL shareholders would receive 1,171 pence in cash a share, including the eight [...]
P&G increases its European market share June 24, 2010 PROCTER & Gamble, the maker of Gillette razors, said yesterday that new product ranges and cheaper versions of existing brands were boosting its market share in Europe in a particularly difficult economic climate for retailers. The world’s biggest consumer goods group has launched new automatic dishwasher and stain removal products over the last two years, [...]
UK Plc hit by series of PR disasters May 31, 2010 THESE are dark days for some of Britain’s flagship firms. Three of our corporate giants are floundering: British Petroleum, whose inability to stem the spill off the US coast is now in the realm of the preposterous; British Airways, which is being crippled by the actions of a minority of deluded and self-destructive strikers; and [...]
Alliance Pharma trumps hopes May 27, 2010 Alliance Pharma said yesterday trading in the first four months of the year beat its expectations and was significantly ahead of 2009, adding that it views the rest of 2010 with confidence. In a statement ahead of the annual shareholders meeting the speciality pharmaceutical company, said turnover for the four months ended 30 April rose [...]
THE TIPSTER May 26, 2010 TESCO has pulled back from its high of 454.9p at the end of April but has also bounced back from its decline to the 38.2 per cent Fibonacci retracement level. Look to purchase below £4 with a stop at £3.85. WorldSpreads offers a rolling spread on Tesco of 397.2p–398p. There’s been no shortage of volatility [...]
Miners and banks help FTSE overturn three days of losses May 24, 2010 BRITAIN’S top shares broke a three-day losing streak yesterday as miners spurred by upbeat comments from China, outpaced falls in oils led by BP as concerns lingered over the Gulf of Mexico oil disaster. The FTSE 100 ended 6.68 points or 0.1 per cent higher at 5,026.44, in choppy trade. The index is down more [...]
Weak flu season hits Reckitt April 27, 2010 Consumer goods group Reckitt Benckiser suffered from a weak cold and flu season in the first quarter of 2010, holding back its overall sales. The British maker of Nurofen, Strepsils and Lemsip cold remedies was hit by more stable weather patterns in Europe and North America in early 2010 compared to last year.
Vive la France: banks are looking good value April 26, 2010 RISKS to the financial sector are finally starting to abate, according to a report by the International Monetary Fund (IMF) published earlier this month. It also reduced its estimates of bank writedowns caused by the financial crisis by $0.5 trillion. But banks still face a mountain of challenges, and the future of the sector is [...]