Why Lloyds Banking Group pleased its City fan club February 22, 2019 | City Talk Our head of markets explains why the City reacted positively to these results despite a profits miss. Despite missing expectations at a pre-tax profit level, Lloyds Banking Group (LSE:LLOY) is not only in rude health but also has a clear vision on where next to take the business. The bank describes its own model as [...]
Pearson to unveil £500m pension insurance deal with Legal & General February 21, 2019 Publishing giant Pearson is set to announce a £500m deal with Legal & General (L&G) in a bid to shore up its pensions liabilities, Sky News reported. The FTSE 100 firm, which specialises in education, will announce the deal tomorrow alongside its annual results, according to the report. Read more: Pearson sells US school textbook [...]
Lloyds Banking Group boosts profits 24 per cent and reveals £1.75bn share buyback scheme February 20, 2019 Lloyds Banking Group’s profits surged 24 per cent in 2018, it revealed today, as it announced a £1.75bn share buyback scheme. The bank said it was "confident in the future" of the UK economy, citing record employment, surging wages and low interest rates. Read more: HSBC boss John Flint needs short term rigour as well [...]
Coca-Cola bottler core profits fizz February 14, 2019 A soft drinks bottler led the FTSE 100 market fallers this morning after analysts noted that finance costs had offset strong organic growth, which has been boosted by a rise in appetite for sparkling beverages and a return to growth in its key Russian market. The figures Coca-Cola HBC AG said this morning that profits before [...]
US considers 60-day extension to looming China tariff deadline February 14, 2019 US President Donald Trump is mulling a 60- day extension of the 1 March deadline for higher tariffs on Chinese imports, according to reports. Trump is considering an extension to the 1 March deadline for more than doubling tariffs on $200bn (£156bn) of Chinese exports in order to give the two sides more time to come to [...]
Tui losses widen as summer heatwave and falling pound take their toll February 12, 2019 Blue-chip travel giant Tui today posted widening losses for the final three months of last year, as a summer heatwave and a fall in the value of the pound dented demand for the firm’s crucial Northern Europe market. The figures The UK-based holiday operator’s underlying losses in the quarter to 31 December were €83.6m, plunging from €36.7m [...]
Smith & Nephew is today’s biggest FTSE 100 faller on reports of $3bn US deal February 11, 2019 Smith & Nephew was the biggest faller on the FTSE 100 this morning with shares down more than four per cent on reports it is in talks to buy US spine technology Nuvasive in a $3bn (£2.32bn) deal. Shares fell 4.39 per cent to 1,448p today, having closed on Friday at 1,515p. The Financial Times [...]
US officials head to Beijing to resume trade talks as deadline for tariff war looms February 11, 2019 Asian markets finished with mixed results this morning while the FTSE 100 had an early rise, as investors looked forward to the reopening of trade talks between the US and China this week. A delegation of US officials, including Treasury secretary Steve Mnuchin, head to Beijing today for the next round of negotiations, but investors’ [...]
Three themes for 2019 – and some black swans February 8, 2019 | City Talk 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
Ocado share price burnt by 48-hour blaze at robotics centre February 7, 2019 Ocdo’s share price suffered a 12 per cent dip this afternoon as investors continued to digest the news of a 48-hour blaze that has disrupted operations at one of the delivery giant’s major distribution centres. Late last night firefighters continued to tackle the blaze, which started early on Tuesday morning, at Ocado’s Andover distribution centre, [...]