BEST OF THE BROKERS January 24, 2012 RYANAIR Espirito Santo rates the airline “buy” and has a target price of €4.60. The broker is expecting the firm to post a net loss of €18m in its quarterly results next week, on revenues of €806m. It thinks Ryanair’s current trading is on track and that the firm’s decision to cut capacity over the [...]
Forget the Kate Effect: we need Maggie Power January 24, 2012 IT’S a very dreary landscape out there right now for retailers. Unless, of course, you happen to be one of the lucky few – Burberry is one such brand. It can do no wrong, it seems, and never less so than when the Duchess of Cambridge is seen sporting its togs. After being spotted wearing [...]
Ocado shares fall as finance chief resigns January 23, 2012 OCADO saw its shares fall yesterday after the online grocer announced that Andrew Bracey, its chief financial officer, has quit to join the recruiting agency Michael Page as its finance director. Bracey, who joined Ocado just 18 months ago ahead of its controversial flotation in 2010, will step down in April after completing the group’s [...]
Asda plans £500m expansion January 23, 2012 ASDA has announced it will create 5,000 new jobs in 2012 by opening 25 new stores and three depots across the UK. Britain’s second largest supermarket chain has earmarked £500m for the investment that will also expand and refurbish 43 of its existing stores. The 25 new shops will add over 600,000 square feet of [...]
Asda to invest over £500m and create 5,000 jobs January 23, 2012 Asda, the British arm of US retailer Wal-Mart Stores has said it it will invest over £500m this year, opening 25 new stores and three depots and creating up to 5,000 jobs. Britain’s second-biggest supermarket group behind Tesco also said it would extend and refurbish 43 existing stores. The 25 new stores will add over [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 22, 2012 FINANCIAL TIMES EU PLANS RAISE HOME FORECLOSURE RISK UK homeowners could face higher mortgage costs and find themselves at greater risk of foreclosure as early as next year because of an obscure clause in the bank capital directive being worked on by the European parliament. US FUNDS RETURN TO EUROPEAN BANK PAPER US money market [...]
Ernst and Young: expect a jump in profit warnings January 22, 2012 PROFIT warnings soared in the final quarter of 2011, with Ernst and Young claiming yesterday that the growing gap between “star performers” and “zombie” companies points to more this year. The three-month period saw a 70 per cent jump in warnings – the highest quarterly rise since early 2001. Quoted companies issued 88 profit warnings [...]
Tesco wins Buffett seal of approval January 19, 2012 WARREN BUFFETT, the US investor known as the Sage of Omaha for his stock-picking prowess, has given Tesco his vote of confidence by raising his stake in the embattled supermarket, which shocked markets last week with its first profit warning in 20 years. Buffett’s investment vehicle Berkshire Hathaway has snapped up about £350m worth of [...]
Bank stocks lead the way as the FTSE continues its climb January 19, 2012 BRITAIN’S top share index closed higher yesterday, led by banks after bullish earnings from their US peers and with hopes building that the recent coordinated action by central banks and the IMF would be enough to avoid an economic crisis. The FTSE 100 index rose 38.78 points, or 0.7 per cent, to 5,741.15, after breaking [...]
Bank stocks up as Eurozone fears ease January 19, 2012 The FTSE 100 today opened with a strong performance in the banking sector with investor confidence being buoyed by efforts to bring the Eurozone back in line after months of damaging instability. The International Monetary Fund (IMF) is seeking to raise up to $600bn (£388.8bn) which would help ease worries about funding in the Eurozone. [...]