Broker tips: Bodycote, Rockhopper, C&C
13th Oct 2010 13:01
Brokers are scurrying to bump up their full year earnings estimates for Bodycote after a strong third quarter update from the engineering firm. Improved operating profit has forced FinnCap to increase its estimates, adjusting pre-tax profit from £34.1m to £41.1m, bumping earnings per share up 20% f
Read moreBroker snap: Bolt-on acquisition for C&C would please
13th Oct 2010 11:47
Nomura Securities thinks that the business model of Magners cider maker C&C has been strengthened by the company's recent mergers and acquisitions (M&A) activity, but the operating environment for the company remains challenging. "With the integration of the acquired Gaymers and Tennent's assets im
Read moreLondon close: Footsie rallies but finishes lower
12th Oct 2010 16:46
London battled hard to undo early losses, but fell just short, closing a few points in the red, amid a backdrop of lower commodity prices and sobering trading updates. Miners were under the cosh. Xstrata was among the heavy fallers in the mining sector. It said today it is starting work again at
Read moreSector movers: Cigarettes and alcohol in demand
12th Oct 2010 15:55
Drinks stocks are going well, with the sector led higher by Magners cider maker C&C, which lifted cider volumes in Britain for the first time since 2007. Poor demand in Ireland knocked cider sales overall in the first half of 2010 though. Tobacco stocks are also in demand today, with their defensi
Read moreLondon afternoon: Resource stocks a drag
12th Oct 2010 14:09
Equity prices continued to recover over the lunch time session though the blue-chip index remains in the red, largely thanks to the weakness of resource stocks. Xstrata, Lonmin, and Antofagasta are the worst hit of the miners, though the whole sector is lower. Metals prices have fallen back as the
Read moreLondon midday: Bid rumours lift Standard Chartered
12th Oct 2010 12:13
The second half of the morning session was better than the first for Footsie, with leading stocks trimming early losses, but the blue-chip index remains in the red, largely thanks to the weakness of resource stocks. Xstrata, Lonmin, and Antofagasta are the worst hit of the miners, though the whole
Read moreLondon open: Footsie on back foot
12th Oct 2010 08:53
London has started on the back foot with miners and oil companies under heavy selling pressure. Xstrata, ENRC, and Antofagasta are the worst hit of the miners, though the whole sector is lower. Oil groups are also suffering. Tullow and BG are the worst hit of the FTSE 100 groups, but Soco is the r
Read moreC&C halts Magners decline
12th Oct 2010 07:36
Magners owner C&C lifted cider volumes in Britain for the first time since 2007, but poor demand in Ireland knocked cider sales overall in the first half of 2010. Revenue in the original cider business declined by 5.3% to €144.3m, with Magners down by 5.8% and Bulmers in Ireland seeing a decline of
Read moreResults round-up: C&C, Hardy
5th Aug 2010 17:11
Magners cider maker C&C reports market conditions in Ireland and the UK remain challenging, particularly in the on-trade, but is pleased with the performance of the Bulmers and Magners brands year-to-date. Overall, C&C expects to deliver a 2010/11 full year operating profit in line with current ma
Read moreC&C profits fall amid depressed cider market
25th May 2010 08:23
Profits fell at the Irish drinks firm C&C in the year to February 28 as cashed strapped drinkers on both sides of the Irish Sea continued to lose their taste for cider. The company behind Magners posted a pre-tax profit of €82.3m before exceptional items, down from €90m the previous year. Revenues
Read moreTuesday preview: Marks & Spencer, De La Rue, C&C
24th May 2010 15:42
Tuesday's preliminary results from retail giant Marks & Spencer (M&S) will be the last under the chairmanship of Sir Stuart Rose, and after a turbulent six-year spell at the helm of the company - first as chief executive - it looks likely he will leave the company while it is on a growth trend. M&S
Read moreLondon close: Weak finish for FTSE 100
30th Apr 2010 16:42
A poor start in the US added to Footsie's woes, sending the leading share index deep into the red by the trade of closing going into the weekend. Mining stocks were a drag on the index with BHP Billiton and Rio Tinto lower ahead of the release over the week-end of the Australian government's review
Read moreLondon afternoon: Miners nervous ahead of Aussie tax review
30th Apr 2010 14:17
An attempt at a rally midway through the lunch time session had fizzled out before traders had finished digesting their midday repast, despite expectations of a firmer start on Wall Street. Mining stocks are proving a drag on the index with BHP Billiton and Rio Tinto lower ahead of the release ove
Read moreC&C sells spirits & liqueurs business
30th Apr 2010 13:47
Magners cider maker C&C Group has sold its spirits and liqueurs division to whisky maker William Grant for €300m in cash. The proceeds from the sale will be used to reduce C&C's debt and for general corporate purposes. The pro-forma ratio of 2009/10 net debt to earnings before interest, tax, deprec
Read moreSector movers: Beverages up as Britvic fizzes
27th Jan 2010 14:18
Shares in soft drinks group Britvic are fizzing, helping lift the whole beverages sector higher. The Tango maker, which also has the license to sell Pepsi in the UK, said it has seen 'robust' market conditions in the last quarter, but said it remains cautious about the outlook for consumer confiden
Read more