FTSE 100 movers: Burberry sinks after sales growth slows
11th Jul 2012 15:03
Luxury brand Burberry sank into the bottom spot after underlying sales growth slowed down from 15% in the fourth quarter to 11% in the first quarter. Analysts were expecting a 13% increase. Both Nomura and Bank of America Merrill Lynch cut their target prices for the stock today. Precious metals m
Read moreSector movers: Burberry dents personal goods sector
11th Jul 2012 14:50
The personal goods sector was hammered today after heavyweight constituent Burberry disappointed the market with its first-quarter trading statement. The luxury brand group said that underlying sales growth was just 11% in the first quarter of 2012, down from 15% in the fourth quarter of 2011. Th
Read moreBroker tips: Burberry, Britvic, Balfour Beatty
11th Jul 2012 12:04
Nomura has reduced its target price for luxury brand Burberry after a slower first quarter, though the broker maintained its 'buy' recommendation for the stock. Given the recent pull back in the sector and its reduced estimates, the broker has lowered its price target from 1,530p to 1,450p. Invest
Read moreLondon midday: Footsie pares losses but still in the red
11th Jul 2012 11:33
- Burberry leads stocks lower after Q1 update - Johnson Matthey, Lloyds, Centrica, SSE fall after broker downgrades - FOMC minutes due out later The FTSE 100 had pared some of its earlier losses but was still trading firmly in the red by Wednesday lunchtime with a disappointing trading update from
Read moreBroker snap: Forecasts reduced at Burberry, but still a 'buy'
11th Jul 2012 11:32
Nomura has reduced its target price for luxury brand Burberry after a slower first quarter, though the broker maintained its 'buy' recommendation for the stock. First-quarter sales were around 2% below consensus forecasts with retail comparable store sales growth coming in at 6% compared with last
Read moreLondon open: Burberry leads stocks lower
11th Jul 2012 08:46
- Burberry sinks after Q1 results - Sentiment dampened by US earnings - FOMC minutes eyes London's benchmark index sank in early trading on Wednesday, tracking losses in US and Asian markets overnight, with Burberry providing a drag after missing sales forecasts in its first quarter. "A series of
Read moreWednesday broker round-up
11th Jul 2012 08:10
ASOS: HSBC downgrades to neutral, target lifted from 1,780p to 1,950p. Avanti Communications: Jefferies reiterates buy rating and 600p target. Aviva: Morgan Stanley upgrades to overweight. Balfour Beatty: UBS downgrades to neutral, target cut from 340p to 310p. BTG: Jefferies downgrades from buy
Read moreLondon pre-open: FTSE to track Asian stocks lower
11th Jul 2012 07:42
City sources predict the FTSE 100 will open down 22 points from yesterday's close of 5,664 tracking losses seen in both Asia and the US, pushed lower by a decision by Germany's highest court to delay a vote over whether or not participation in Europe's bailout fund is constitutional. Licensing re
Read moreBurberry disappoints
11th Jul 2012 07:02
Licensing revenue was down year-on-year at Burberry but otherwise the luxury brand powerhouse trundled on in its fiscal first quarter. Total revenue in the three months to the end of June was up 11% to £408m from £367m in the corresponding period of 2011. Retail revenue was up 14% to £280m from £2
Read moreWednesday preview: Hays, Wetherspoon, Burberry
10th Jul 2012 17:04
Recent updates from sector peers Michael Page and Robert Walters have not given any reason for shareholders to be overly optimistic about recruiter Hays's trading update on Wednesday. Michael Page said the first half of the year had been tough and it expected more of the same in the second half, wh
Read moreLondon close: Stocks fall as Spanish bond yields jump
9th Jul 2012 16:30
- Spanish yields back above 7.0 per cent - All eyes on Eurogroup meeting - Defence stocks rise on contract hopes Stocks were trading near their lowest levels of the day by Monday's close as bond yields in Spain surged while European officials met in Brussels. By the close in London, the yield on a
Read moreFTSE 100 movers: BAE rises on rumours
9th Jul 2012 15:10
Defence group BAE Systems was advancing on reports that it could be close to securing a £7.1bn contract with the US Air Force, according to the Sunday Telegraph. Investors are hoping for more deals to be signed at the 2012 Farnborough Air Show which starts today. Some reports also hold that the gove
Read moreLondon midday: Stocks in the red ahead of Eurogroup
9th Jul 2012 11:41
- Spanish yields back above 7.0 per cent - Eyes on the Eurogroup - BAE and Rolls-Royce gain as Farnborough show kicks off The Footsie rebounded off its intraday lows by Monday lunchtime but was still firmly in the red with Spanish bond yields surging ahead of a Eurogroup meeting in Brussels. Euroz
Read moreLondon close: US jobs data sinks stocks
6th Jul 2012 16:41
- US non-farm payrolls disappoint - Miners drag the Footsie lower - IMF to cut global GDP forecast After treading water for the morning session, the Footsie dropped in afternoon trade after a disappointing employment report from the US dampened the outlook for the global economy. The US Labor Depa
Read moreLondon midday: Stocks fall as investors shrug off central bank action
6th Jul 2012 11:37
- Markets look ahead to US jobs report - Investors shrug off central bank action - Aviva jumps on Delta Lloyds disposal The Footsie was trading within a narrow range on Friday morning as investors showed caution ahead of a pivotal employment report due out in the US in the coming hours. Stocks o
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