FTSE 100 movers: Antofagasta leads miners' rise and Barratt the builders' fall
13th Jul 2016 13:36
(ShareCast News) - The FTSE 100 index was scuttling crabwise on Wednesday, as markets held their powder dry as Britain appointed a new Prime Minister later in the day and a day ahead of the Bank of England expected policy tinkering. Commodities heavyweights Antofagasta, Glencore, BHP Billiton and
Read moreBurberry sales fall less than feared but challenging conditions remain
13th Jul 2016 07:12
(ShareCast News) - Declines across all three of Burberry Group's regions led to a 3% like-for-like drop in retail sales in the first quarter, which was less than the 5% fall the market had forecast, though the luxury retailer warned its market remain challenging. The FTSE 100 fashion group said it s
Read moreWednesday newspaper round-up: BoE bullying, pensions liabilities, Poudland, Rolls
13th Jul 2016 06:59
(ShareCast News) - Mark Carney may have bounced the Bank of England into an unnecessary interest rate cut by calling for stimulus only days after the Brexit result, leading economists have warned in a fierce attack on the governor. Former Bank policymakers and other senior economists said that Mr Ca
Read moreBurberry replaces Bailey as CEO with Céline's Gobbetti
11th Jul 2016 13:56
(ShareCast News) - Burberry chief executive Christopher Bailey has been replaced in the role after less than three years by Marco Gobbetti, currently boss of LVMH's Céline luxury brand, as the Yorkshireman steps back to focus solely on the role of chief creative officer. The FTSE 100 fashion house a
Read moreFTSE 100 movers: ABF ascends above rebounding real estate and housebuilders
7th Jul 2016 14:18
(ShareCast News) - London's blue chip index was boosted by a bevvy of rebounding financials and property stocks, though they were topped by a surging rise from Associated British Foods. AB Foods danced more than 10% higher after it said the significant weaking of the pound since the Brexit vote had
Read moreBofA ML upgrades Burberry on weak sterling, valuation
29th Jun 2016 14:18
(ShareCast News) - Fashion house Burberry racked up healthy gains on Wednesday as analysts suggested it would benefit from sterling weakness. Bank of America Merrill Lynch upgraded the stock to 'buy' from 'neutral' but cut the price target to 1,250p from 1,400p to reflect a higher market risk premiu
Read moreA rising (oil) tide lifts all boats
7th Jun 2016 23:47
(ShareCast News) - Gains in shares of London-listed oil majors BP and Royal Dutch Shell, and oil stocks more generally, helped to keep the FTSE 100 and FTSE 350 in the green on Tuesday. Traders welcomed news that Shell had boosted its estimates for the cost savings it expected to reap from its merge
Read moreHong Kong retail slide undermines Burberry and other luxury brand shares
31st May 2016 09:53
(ShareCast News) - Retail sales in Hong Kong continued to decline last month, new data showed, sending shares in Burberry lower on Tuesday morning. According to the Census and Statistics Department, Hong Kong's April retail sales values fell 7.5% year-on-year, while Hong Kong retail sales volume dec
Read moreCMA accuses top model agencies of price fixing
25th May 2016 12:21
(ShareCast News) - The Competition and Markets Authority has accused five modelling agencies of colluding to fix their prices. The competition watchdog said that between April 2013 and March 2015, FM Models, Models 1, Premier, Storm and Viva - used by big name high street and online retailers that c
Read moreFriday broker round-up
20th May 2016 14:32
(ShareCast News) - Exova Group: Goldman Sachs reiterates buy with a 195p target. Grainger: Jefferies retains buy with a 215p target. Thomas Cook: JP Morgan keeps at neutral with a 90p target and Goldman Sachs reiterates sell with a target price of 72p. Serco Group: JP Morgan reiterates neutral wit
Read moreRBC reiterates 'underperform' and cuts target price on Burberry
20th May 2016 09:53
(ShareCast News) - RBC Capital Markets on Friday reiterated an 'underperform' rating on Burberry Group and cut its target price to 1175p from 1250p. Burberry on Wednesday reported a 10% drop in full year adjusted profits to £421m as underlying revenue fell 1% to £2.5bn and like-for-like sales droppe
Read moreThursday broker round-up
19th May 2016 13:42
(ShareCast News) - Countryside Properties: JP Morgan reiterates overweight with a 280p target. SSP Group: Citigroup retains buy with a 340p target. Polymetal International: Jefferies keeps at underperform with a 520p target and UBS reiterates neutral with a target price of 675p and Deutsche Bank st
Read moreNo EPS recovery at Burberry before 2019 at the earliest, SocGen says
18th May 2016 13:44
(ShareCast News) - 'Don't hold your breath', earnings per share at Burberry's were not set to recover before 2019 - at the earliest - analysts at Socgen said. The luxury fashion retailer failed to announce any "meaningful" net cost cuts alongside its latest full-year figures on Wednesday and multipl
Read moreLondon pre-open: Stocks seen lower as attention shifts to Fed
18th May 2016 07:33
(ShareCast News) - London stocks were expected open lower on Wednesday amid rising expectations the Federal Reserve will hike interest rates in June. The FTSE 100 was seen opening down 28 points from Tuesday's close at 6,140. Following on from a batch of upbeat US data and hawkish comments
Read moreBurberry a fashion victim as profits hit by luxury slump
18th May 2016 07:10
(ShareCast News) - Full year profits from Burberry fell 10%, at the bottom of analysts' range of estimates, and the fashion retailer warned that it expects 2017 full year adjusted profit before tax "to be towards the bottom of the range of analysts' expectations". To try and sweeten the pill, Burbe
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