FTSE 100 Movers: Burberry leads the way
15th Sep 2011 12:56
Iconic British luxury brand Burberry was leading the surge on the FTSE 100 on Thursday, on speculation that it could see a reduction in luxury goods taxes in a key market - China. Chinese newspaper National Business Daily has refuelled the debate, reporting that import duties on luxury items may be
Read moreSector movers: Transportation sector in reverse as Stobart and Frontline fall
26th Aug 2011 15:23
Share price falls at Stobart and Frontline meant that the industrial transportation sector was among the worst performing sectors on Friday afternoon. By 15:30, shares in transport logistics firm Stobart were 3.85% lower at 127.30p, after the company said that its transport and distribution divisio
Read moreSunday newspaper round-up: United Biscuits, riot fallout, petrol price cuts
14th Aug 2011 19:09
United Biscuits could be broken up as its owners plan to revive attempts to sell the company. The move could see its biscuits business, including the McVitie's brand, separated from its crisps and nuts division, which includes the KP label. The private equity groups Blackstone and PAI Partners have
Read moreSector movers: Burberry recovers to boost personal goods
5th Aug 2011 13:54
Iconic British luxury brand Burberry was among the highest risers on the FTSE 100 on Friday, lifting the personal goods sector to the top of the pile. Burberry's shares were trading 2.67% higher at 1,346p at 14.10pm, recovering after the recent sell-off over the past two weeks. On Monday 25 July, s
Read moreManroy chairman buys again
1st Aug 2011 17:33
Andrew Blurton, the chairman of machine gun maker Manroy, has been buying again, spending £55,000 on shares. The company announced today that he bought another 50,000 shares, paying 105p a time and bringing his total stake to 345,000, or 2.7% of the company. The latest buy comes after purchases to
Read moreBroker tips: BSkyB, Burberry, Lloyds
14th Jul 2011 13:17
In a statement of the blindingly obvious, Panmure Gordon says that the probability of a successful takeover by Rupert Murdoch's News Corporation of the satellite broadcaster BSkyB has been reduced to zero. Panmure, which previously thought there was a 10% chance of the deal going ahead, places its
Read moreBroker snap: Credit Suisse ups Burberry price target
14th Jul 2011 10:52
Credit Suisse has raised its target price on Burberry, but the broker thinks that a lot of investment will be needed to maintain strong sales growth and keeps its "neutral" recommendation on the luxury fashion chain. It ups its target price on Burberry to 1,420p from 1,310 following yesterday's tra
Read moreSector movers: SuperGroup, Burberry boost personal goods sector
13th Jul 2011 14:29
Full-year results from SuperGroup impressed investors on Wednesday, as the share price rallied nearly 23%, sending the personal goods sector to the top of the pile. The trendy fashion retailer, famous for the Superdry brand, said full-year underlying pre-tax profit soared by 89% to £50.2m, from £26
Read moreFTSE 100 movers: Chinese data fuels demand for miners
13th Jul 2011 14:09
A better-than expected rise in Chinese gross domestic product spurred a rally in metals prices, helping gains for the miners. Fresnillo, Randgold Resources and Kazakhmys were among the highest risers on Wednesday afternoon. Mining titan Xstrata was also in demand after taking full control of the P
Read moreLondon open: Burberry, miners dominate the rise
13th Jul 2011 08:31
Burberry and the miners dominated the risers early on, as the Footsie attempted to recover from the previous day of losses. Iconic British luxury brand Burberry jumped higher early on after underlying sales soared by 34% in the first quarter, driven largely by strong retail growth in China. "We ar
Read moreLondon pre-open: Mixed messages from Europe and Asia
13th Jul 2011 07:36
Investors are still concerned about problems in the Eurozone, especially following the decision by ratings agency Moody's to downgrade Ireland's foreign- and local-currency government bond ratings by one notch to Ba1 from Baa3, regarded as 'junk' status, but with Asian markets putting in a good shif
Read moreRetail sales surge at Burberry in first quarter
13th Jul 2011 07:08
Underlying sales at iconic British luxury brand Burberry soared by 34% in the first quarter, driven largely by strong retail growth in China. Total revenue jumped from £282m to £367m in the three months to 30 June, as Retail sales surged by 49% (at constant currency) from £171m to £245m and Wholesa
Read moreLondon close: Footsie dampened by European debt fears
12th Jul 2011 16:31
The ongoing euro crisis weighed heavily on stock markets in Europe and the UK as investors continued to fret over sovereign debt contagion spreading to Italy, Europe's third largest economy. However, after a steep decline early on, things calmed down slightly after it was announced that Italy sold
Read moreWednesday preview: Marks and Spencer, Supergroup, Wetherspoon
12th Jul 2011 16:26
Wednesday has a strong clothing theme, with clothing outfits as diverse as Marks and Spencer, Supergroup and Burberry reporting. As broker Matrix Group observes, the insipid share price performance of Marks & Spencer (M&S) suggests that the market is expecting "a stinker of an update" but Matrix is
Read moreFTSE 100 movers: ARM pulls blue chips lower
12th Jul 2011 16:04
Chip maker ARM was the biggest faller after figures from US peers Microchip Technology and Novellus came short of expectations. BSkyB was continuing its decline, a day after Rupert Murdoch withdrew his offer to spin-off Sky News in order to make his bid for the satellite broadcaster feasible. As s
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