London open: M&S gains, but UK stocks flat ahead of long weekend
2nd Apr 2015 08:46
High street department store Marks & Spencer led retailers higher on Thursday morning, though the wider markets was kept broadly flat as concerns about Greece and UK political uncertainty limited upside. M&S shares surged 5.5% after an unexpected return to growth in clothing sales, while Dunelm and
Read moreBooker chairman resigns as grocery wholesaler celebrates "good year"
2nd Apr 2015 08:14
Food wholesale retailer Booker said it had a "good end to a good year" despite ongoing price deflation across the sector, as its chairman announced his resignation. Alongside a fourth-quarter trading update on Thursday, Booker said its long-running chairman Richard Rose will be stepping down in the
Read moreLondon close: Stocks rally strongly after Swiss move as ECB stimulus hopes rise
15th Jan 2015 16:36
A surprise policy move by the Swiss National Bank (SNB) resulted in a choppy day for UK markets on Thursday, though stocks were able to regain their composure and rally strongly as the dust settled. The FTSE 100 finished the session 110.32 points higher at 6,498.78, up 1.7% on the day due to increas
Read moreBooker resilient to food retail woe, but analysts disappointed
15th Jan 2015 08:06
Food wholesaler Booker continues to remain resilient to the struggles facing the wider food retail sector after delivering a solid increase in underlying sales in its third quarter. However, the Makro chain which Booker took over in 2013 weighed on overall top-line growth, while core growth at the c
Read moreBeer tie vote creates 'significant uncertainty' for pubcos, says Barclays
19th Nov 2014 10:56
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. The government was defeated in a Commons vote on Tuesday with MPs vot
Read moreSectors: Tech sentiment improves
29th Oct 2014 14:23
Improving sentiment towards technology companies saw the electronic and electrical equipment sector top the leaderboards in London on Wednesday. Although earnings reports from tech giants stateside have been mixed, with Apple and Facebook pleasing but Amazon and Twitter disappointing, interest in sm
Read moreFTSE 250 movers: Bwin.party climbs after pleasing with Q3 results
16th Oct 2014 16:16
Gaming giant Bwin.party rose after it reported a 2% rise in third quarter revenue to €148.7m as an increase in sports betting sales offset a fall in bingo, casino and poker. Sports betting revenue advanced 11% to €58.8m, driven by higher margins, the World Cup and growth in the number of people usin
Read moreBooker reports increase in H1 pre-tax profit and says it's on track to meet FY expectations
16th Oct 2014 08:01
British food wholesale operator Booker reported a £67.4m pre-tax profit for the first six months of the year, a £2.3m increase year-on-year. The firm said that despite challenging market conditions, profit for the period rose from £53.8m to £55.3m, with earnings per share rising to 3.12p from 3.05p
Read moreFTSE 250 movers: Booker rises after positive first half
18th Sep 2014 15:40
Shares in Booker Group performed strongly on Thursday after the group reported a 3.1% year-on-year rise in like-for-like sales. The result was welcome by Peel Hunt, which said it continues to see "significant upside" at the cash and cash firm after a decent second-quarter update. The broker kept a '
Read moreBroker tips: Easyjet, Diageo, Booker
18th Sep 2014 11:47
Numis Securities repeated its 'buy' rating for Easyjet on Thursday, hailing the budget airline's decision to lift its dividend payout ratio and order 27 new planes from Airbus. "We believe that the dividend hike, promise of further returns of cash to shareholders and the aircraft option exercise pro
Read moreLondon midday: Scottish stocks lead gains ahead of crucial referendum
18th Sep 2014 11:43
After a slow start, London stocks advanced on Thursday with the FTSE 100 bouncing off its lowest levels in nearly a month, as companies based north of the border advanced with the focus firmly on the Scottish referendum. The benchmark Footsie index was trading 0.4% higher at 6,811 by noon. Three str
Read morePeel Hunt hails "encouraging" Q2 from Booker
18th Sep 2014 10:54
Peel Hunt said it continues to see "signficant upside" at Booker after a decent second-quarter update, and the future looks bright for the wholesale retailer. The broker kept a 'buy' recommendation and 180p target price, hailing an "encouraging" statement. "Booker's second quarter was slightly ahea
Read moreBooker reports progress over summer
18th Sep 2014 08:54
Food wholesaler Booker Group reported a modest 0.1% year-on-year rise in sales in the last three months and said it was on track to meet its full-year expectations. On a like-for-like basis, sales in the 12 weeks to 12 September climbed 1.8%. Looking at the last 24 weeks, the picture was a bit brig
Read moreSector movers: Tesco, Morrison lead supermarket stocks lower
4th Sep 2014 15:16
Supermarket stocks were under pressure on Thursday, continuing their recent choppy trade amid ongoing concerns about heightened competition, declining profits, dividend sustainability and a critical government into the industry. The Elliott Report, an inquiry into the industry launched as a result
Read moreThursday tips round-up: Booker Group, Ashtead
4th Sep 2014 08:54
Somewhat perversely, shares of food wholesaler Booker Group have been weighed down by the souring in market sentiment towards the big grocers, despite not having any exposure to them. Much like Bunzl however the company has long been considered a dull operation but a reliable generator of cash and i
Read more