London close: Stocks fall on concerns over Eurozone
19th Oct 2012 16:44
- EU leaders agree to banking supervisor by January - Aggreko and Bunzl lead fallers in London - US heavyweights disappoint with Q3 results The FTSE 100 index had sunk firmly into the red by the close on Friday as investors awaited further news from the European summit. Aggreko and Bunzl were regis
Read moreFTSE 100 movers: Hammerson rises on office sale
19th Oct 2012 16:02
Hammerson, the property company that has spent much of the year selling off its offices, rose on news that it continues to recycle the cash into shopping centres with the acquisition The Junction Unit Trust. The group has paid £254.5m for the trust, which owns four prominent retail parks in strong
Read moreLondon midday: Stocks fall as investors await Eurozone developments
19th Oct 2012 11:32
- EU summit in focus - US corporate results disappoint - Aggreko and Bunzl provide a drag on the FTSE 100 The Footsie was slightly lower by Friday lunchtime but was trading within a narrow range of just 19 points as investors awaited further news from the two-day EU summit in Brussels. "The second
Read moreBroker tips: Barclays, Burberry, Aggreko
19th Oct 2012 10:48
Nomura has retained its 'reduce' recommendation and 210p target price for Barclays following the revelation of more PPI provisions, saying that the bank is entering a period of potential negative catalysts. As for the upcoming adverse catalysts, the PPI issue is unsurprisingly the first of many ne
Read moreBroker snap: Investec upgrades Burberry back to 'buy'
19th Oct 2012 09:47
Shares in luxury fashion group Burberry were registering gains on Friday morning in London after Investec returned to its bullish stance on the stock and upgraded its rating from 'hold' to 'buy'. The broker said that the highlights of last week's first-half pre-close trading update were "a modest i
Read moreFriday broker round-up - UPDATE
19th Oct 2012 09:00
Aggreko: Jefferies keeps buy rating and 2,800p target; Seymour Pierce keeps buy rating and 2,500p target; Panmure Gordon cuts target from 2,228p to 2,159p, hold rating unchanged. Alliance Pharma: umps upgrades to buy, target lifted from 32p to 37p. Avacta: Panmure Gordon keeps buy rating and 1.75p
Read moreBurberry scents profits in fragrance
15th Oct 2012 07:43
Burberry's decision to take direct control of its fragrance and beauty products, as announced October 11th could be a long-term driver of profits, according to figures reported by Reuters. Fragrance and beauty will be run as Burberry's fifth product division alongside accessories and womens, mens a
Read moreLondon close: Footsie thunders ahead
11th Oct 2012 16:54
Better than expected US jobless figures gave a little early afternoon boost to a London market already going along nicely, as investors shrugged off a downgrade of Spain's credit rating by S&P, leaving the Iberian nation's debt status barely above a junk rating. Initial weekly unemployment claims d
Read moreFTSE 100 movers: Burberry rises on signs of improved trading
11th Oct 2012 15:35
Shares in stock market darling Burberry, the luxury fashion chain, leapt on Thursday, after it said its situation had started to improve towards the end of the July-September quarter, during which time sales growth in its stores slowed dramatically, as expected. LFL sales over the half-year were u
Read moreSector movers: Relief rally for Burberry
11th Oct 2012 14:14
Rumours of Burberry's impending fall from grace may have been a bit premature, as the stock bounced back this morning after a reassuring update. "Against record prior year comparatives, Burberry delivered 8% total revenue growth and 10% retail growth in the first half, albeit slowing in the second
Read moreLondon midday: Bumi booming on back of buy-out proposal
11th Oct 2012 11:51
London enjoyed a solid morning sparked by a return to favour of stock market darling Burberry, the luxury fashion chain. Burberry, which issued a profit warning last month, confirmed like-for-like (LFL) sales growth in its stores slowed dramatically in the July-September quarter, but the good news
Read moreLondon open: Burberry back in fashion
11th Oct 2012 08:51
London has, for once, decided not to dance to Wall Street's tune and has opened little changed, despite the shake-out yesterday stateside. Another credit ratings downgrade for troubled economy Spain has also been shrugged off. In company news, Burberry, the luxury fashion chain which issued a profi
Read moreBurberry reassures on LFL sales and margin
11th Oct 2012 08:11
Things are not as bad as feared at luxury fashion chain Burberry, which still saw some like-for-like sales growth in the second quarter of its financial year despite warning last month of a material slow-down in its retail business. "Against record prior year comparatives, Burberry delivered 8% tot
Read moreLondon pre-open: FTSE to extend Wednesday's losses
11th Oct 2012 07:31
City sources predict the FTSE 100 will open down eight points from yesterday's close of 5,777, after investor sentiment was dampened by a less that dazzling start to earnings season in America. The largest US aluminium producer, Alcoa, cut its forecast for growth in global consumption of the metal
Read moreBurberry's LFL sales growth slows to 1pc in Q2
11th Oct 2012 07:03
Burberry, the luxury fashion chain which issued a profit warning last month, confirmed like-for-like (LFL) sales growth in its stores slowed dramatically in the July-September quarter. Total revenue in the six months to the end of September was up 8% year-on-year to £883m. Retail revenue was up b
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