Wednesday tips round-up: Burberry, Pearson, Chemring...
19th Jan 2011 06:40
The extraordinary rise of Burberry, since the brand was reinvented and rescued from chavdom, appears to be accelerating. Like-for-like sales in the first half of the financial year were 9% ahead; in the third quarter, including Christmas, they were up 14%. The shares, below six quid at the start of
Read moreLondon close: Shares buoyant as updates impress
18th Jan 2011 16:42
The top share index closed near its highs, helped in part by well-received company updates. Burberry was in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group, with revenue up by 30% and profits now set to hit the top
Read moreFTSE 250 movers: Taylor Wimpey at 8-month high
18th Jan 2011 15:42
Taylor Wimpey has hit an eight-month high after the housebuilder today confirmed it is in the early stages of evaluating a number of approaches for its North American business. "We will update the market as appropriate in due course and there is no guarantee that any transaction will be concluded,
Read moreLondon afternoon: Gains get trimmed
18th Jan 2011 14:35
Share prices came off the boil over the lunch time session though Footsie remains firmly in the red, as things continue to look rosier in the eurozone. Burberry is in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group
Read moreLondon midday: Shares keep gains
18th Jan 2011 12:17
The top share index remains buoyant as mining sector strength and company updates attract buyers. Miners are strong led by Vedanta, Kazakhmys and ENRC.Rio Tinto's global iron ore operations set a new quarterly production record in the final three months of 2010. The group produced 65m tonnes in the
Read moreLondon open: Footsie back over 6,000
18th Jan 2011 08:49
Blue chips have rallied following a strong performance in Asia this morning, renewed demand for the miners and some good trading updates. Brewer SABMiller helped more drinkers in Africa and China quench their thirst during the third quarter, sending organic lager volumes up 3%. The owner of Peroni
Read moreAshtead drops Lavendon interest
18th Jan 2011 07:58
Plant hire group Ashtead has ended its bid interest in Lavendon after a firm rebuttal from the board of the powered access platform group. Lavendon unanimously rejected an "opportunistic" 115p per share offer from joint bidders Ashtead and Belgium's Thermote & Vanhalst. The joint bid had pre-cond
Read moreLavendon rebuffs Ashtead/TVH approach
13th Jan 2011 15:31
Powered aerial work platforms renter Lavendon has unanimously rejected an "opportunistic" offer from joint bidders Ashtead Group and Belgium's Thermote & Vanhalst. It said the 115p a share offer, a 45% premium to the price on 2 December when Lavendon first attracted bid interest, "significantly und
Read moreAshtead joins Belgian bid for Lavendon
13th Jan 2011 07:42
Equipment hire firm Ashtead Group has teamed up with Belgium's Thermote & Vanhalst in an attempt to buy powered aerial work platforms renter Lavendon. The pair propose paying 115p a share in cash for the company, a 45% premium to the price on 2 December when Lavendon first attracted bid interest, b
Read moreAshtead buys US scaffolding business
11th Jan 2011 07:27
Equipment hire firm Ashtead Group has boosted its presence in the Gulf Coast petrochemicals business with the acquisition of Empire Holdings. Ashtead is paying $38m for Empire, which is based in Baton Rouge, Louisiana. An additional cash consideration of $1.5m may be payable depending on Empire's p
Read moreFriday tips round-up: DS Smith, Xstrata, HMV...
10th Dec 2010 06:44
As a low-growth, low-margin stock, packaging group DS Smith had previously been bought for its high yield; after their sharp rise since halfway through last year, the shares now return a little more than 2%. They are on about 13 times this year's earnings, a premium rating for the stock, but susta
Read moreLondon close: Footsie clings to lead
9th Dec 2010 16:40
A weak morning session on Wall Street did London no favours Thursday, although the big banks helped the leading index to only its second close above 5,800 in over three weeks. Barclays, Lloyds and Royal Bank of Scotland were top of the pile. HSBC also did well, but fellow Asia-focused player Stand
Read moreFTSE 250 movers: Ashtead leads the market higher
9th Dec 2010 15:06
Top of the list on Thursday afternoon is equipment hire firm Ashtead which said growing sales in North America lifted second quarter sales but it warned end markets remain fragile. Underlying pre-tax profit rose 49% to £18.1m in the second quarter ended 31 October 2010. Revenue advanced 9% to £245.2
Read moreLondon afternoon: Banks help index advance
9th Dec 2010 14:42
A mostly better banking sector, gains for some of the mining heavyweights and a decent start on Wall Street are offsetting losses among the big retailers. Lloyds, Royal Bank of Scotland and Barclays are going well following a good session in overseas markets, though Asia-focused Standard Chartered
Read moreLondon midday: Shares steady as Bank holds rates
9th Dec 2010 12:13
The midday announcement that interest rates and quantitative easing will remain unchanged surprised no one and shares remain little changed. Banks and miners are going well. Platinum specialist Lonmin, copper miners Antofagasta, Kazakhmys and ENRC are also in demand, as are the Australian iron ore
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