Broker snap: Credit Suisse optimistic at Marston's, Greene King
11th Jul 2011 12:18
Credit Suisse has upgraded brewing and pubs group Marston's from neutral to outperform and raised its target price to 131p, from 116p, saying that the firm has "attractive growth prospects [coupled with] yield support." While the broker's forecasts for the year ending 2 October remain broadly uncha
Read moreEngland expects with £85,000 ITE purchase
8th Jul 2011 16:21
Non-executive director Neil England has taken advantage of a weak spell in the share price of ITE Group, splashing out £85,000 on shares in the FTSE 250-listed exhibitions organiser. He took 40,000 shares at 213.5p a share and now had 50,000. ITE organises exhibitions in areas such as the oil and
Read moreLondon midday: FTSE 100 inching towards 6,000 points
1st Jul 2011 12:21
The 6,000 point mark is in sight now as the top share index adds to yesterday's gains. That said, there is little in the way of excitement with yesterday's flood of company results slowing to a trickle. Pub group Greene King, which yesterday reported a big rise in profits but also reported volati
Read moreLondon open: Stocks edge higher, Premier Foods slide continues
1st Jul 2011 08:32
Stocks have edged higher on a quiet day on the company news front following yesterday's deluge. Pub group Greene King, which yesterday reported a big rise in profits but also reported volatile trading since the year end, sending the shares lower, has won back some losses. However, Hovis bread maker
Read moreFriday tips round-up: Greene King, Cairn, Hampson
1st Jul 2011 06:30
While Greene King's retail estate of 915 pubs remains the driver thanks to sizzling food sales, its brewing business and 2,400 tenanted pubs are also outpacing rivals. Greene King's skill at increasing sales while mitigating cost rises has kept the cash flowing, allowing it to lift the divdend for t
Read moreLondon close: Rally continues as Greek fears ease
30th Jun 2011 16:38
The rally continued Thursday, helping the top share index move back towards the 6,000 point mark it had been flitting around from the beginning of the year until the escalation of the Greek debt crisis. The Greek parliament's second vote on the proposed new austerity measures provided further chee
Read moreLondon midday: Lloyds leads the charge
30th Jun 2011 12:02
The top share index is in positive territory again, with Lloyds Banking Group leading the charge after revealing the details of its strategic review. Lloyds, the part-nationalised high street behemoth, is aiming to shed a further 15,000 jobs and cut its presence in foreign markets by half. The ann
Read moreGreene King cautious despite sales rise
30th Jun 2011 11:23
Greene King posted a sharp rise in profits as revenues moved higher in the year to 1 May, but the pub group and brewer foresees another "testing" year. Pre-tax profits climbed to £140m from £123m on revenues that were up to £1.04bn from £984m. The dividend climbed by 7.4% to 23.1p. Greene King, w
Read moreTop-up needed, Capital tells Fuller's
21st Jun 2011 08:04
Bid target The Capital Pub Company added a few million quid to its price tag after a set of sparkling full year results. Revenue rose 24% to £27.2m in the 52 weeks to 26 March from £22.0m the year before, with like-for-like sales topping 7%. Sales were bang in line with market expectations. Adjust
Read moreFTSE 250 movers: Bodycote soars after strong quarter
27th Apr 2011 13:48
The big mover of the day is engineering firm Bodycote after it said it expects headline operating profit for the year to 31 December 2011 to be towards the top end of analysts' forecasts after strong demand for heavy trucks. The outlook impresses broker Prime Markets which said that the shares (curr
Read moreGreene King sees strong second half
27th Apr 2011 08:56
In addition to the acquisition of a London-based pub operator, Greene King has confirmed a strong end to the year, with sales rising by 8.2% since week 35, the last week to have been affected by the winter weather. For the 51 weeks to 24 April, retail like-for-like (LfL) sales have grown 4.7%, with
Read moreLondon close: Footsie finishes just shy of 6,000
15th Apr 2011 16:52
Footsie finished on or around its high point for the day but just shy of the 6,000 level. Risers outnumbered fallers by about three to one among FTSE 100 constituents, with resource stocks featuring prominently among the laggards. Real estate investment trusts British Land and Land Securities led
Read moreFTSE 250 movers: Micro Focus drops after CEO exit
15th Apr 2011 12:53
The boss of software group Micro Focus International, Nigel Clifford, is leaving the company after just 11 months, sending shares plummeting. Oil firm Salamander Energy saw shares dropped by almost a tenth after its first stab at drilling the Dao Ruang-2 well in Thailand did not work out. The well
Read moreLondon midday: Banks dull after Ireland downgrade
15th Apr 2011 12:02
The top share index failed to regain the 6,000 level in the morning, but came close before subsiding just before midday. Banks are dragging the index lower, offsetting good gains among property companies. Banks such as Royal Bank of Scotland, Lloyds and Barclays are off the pace as sentiment sour
Read moreLondon open: Resource stocks wanted
15th Apr 2011 08:37
The Footsie is sidling back up towards the 6,000 level, with resource stocks leading the way after China's economy grew faster than expected in the first quarter. ENRC, Antofagasta and Lonmin are the picks of the mining sector while among oils Cairn and Tullow are the stocks to have. Betting shops
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