FTSE reshuffle firms revealed March 5, 2014 BARRATT Developments and St. James’s Place are joining the FTSE 100, according to an announcement yesterday, as Amec and Tate and Lyle fall out of the index. Property firm Barratt has been buoyed by a burst of activity in construction, and its share price has nearly doubled in the past year. Heritage Oil, Infinis Energy [...]
Tate & Lyle could exit FTSE 100 to make way for St James’s Place March 3, 2014 TATE & Lyle, one of the original components of the FT 30, is on the verge of being demoted from the FTSE 100 as part of its quarterly reshuffle of the index, the London Stock Exchange (LSE) said yesterday. The food ingredients company will learn its fate tomorrow night when the exchange reveals the firms [...]
Best of the Brokers for 19 February 2014 February 18, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA UBS has cut the owner of British Gas to a “sell” and slashed its target from 340p to 280p in the wake of recent political attacks on the energy sector. UBS believes the threat of imposed profit restrictions are likely to discourage [...]
Tate & Lyle cuts profit forecast after price war February 13, 2014 SHARES in Tate & Lyle plummeted by 16 per cent yesterday after the food ingredients group cut its full-year profit forecasts and warned that its Splenda sweetener faced intense competition from generic rivals. The company said it expected prices for sucralose – the main ingredient of its Splenda sweetener – to be around 15 per [...]
Bottom Line: Too much sweetener leaves a bitter aftertaste for investors February 13, 2014 IN THE three-and-a-half years since Tate & Lyle sold its iconic sugar and golden syrup business to American Sugar Refining, investors have had a fairly sweet ride. Since its refocus as an agribusiness – manufacturing sweeteners, corn syrups, dietary fibres and texturants – shares have risen by a third, and as recently as November management [...]
London Report: FTSE’s winning run ends as Tate & Lyle share price sours February 13, 2014 BRITAIN’S top share index fell yesterday after six straight days of gains, its longest rising streak of the year, led down by food ingredients firm Tate & Lyle and engineer Rolls Royce, which gave disappointing outlooks. Of FTSE 100 companies that have reported quarterly earnings so far, 39 per cent have missed profit expectations. The [...]
Tate and Lyle’s cut outlook sends shares crashing 17pc February 13, 2014 Tate and Lyle has scaled back its financial outlook for 2014, sending shares tumbling almost 17 per cent. Like Rolls Royce, the sweetener and ingredients supplier has said that it expects no profit growth this financial year, as growth seen in emerging markets was offset by “softness in developed ones”. Last financial year, adjusted profit was [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
London Report: FTSE pares back losses after ECB weighs rate cut November 20, 2013 THE UK’s FTSE 100 was dragged down yesterday by heavyweight stocks such as Vodafone trading ex-dividend, but briefly pared its losses after a report that the European Central Bank was considering negative deposit rates. Bloomberg reported that the ECB was considering a cut in its deposit rate to minus 0.1 per cent from the current [...]
Sweeter outlook despite drop in Tate & Lyle sales November 7, 2013 TATE & Lyle is betting on its higher-margin speciality sweetener business to help to support profitable growth for the full year after yesterday reporting a fall in first-half profits. The company, which sells sweeteners including corn syrup to food and soft drink makers, had warned last month that a cold spring in the US had [...]