Thursday preview: Greene King prepares finals
1st Jul 2009 17:04
Brewing and pub group Greene King is set to attract attention Thursday when it publishes full-year results. Back in April, it forecast profit before tax, exceptional operating items and exceptional financing items for the 52 weeks ended 3 May of not less than £115m. Expect exceptional operating ite
Read moreWeek Ahead: HMV, Greene King, ASOS
26th Jun 2009 11:46
No FTSE 100 companies are scheduled to declare results next week which leaves the field clear for second liners such as ASOS, HMV and Greene King. Online fashion retailer ASOS is a shining example of how shopping habits are changing. While old school bricks and mortar retailers such as Marks & Spen
Read moreLondon afternoon: Prices steady at lower levels
15th Jun 2009 14:32
The market moved sideways over the lunch-time session, with the Footsie remaining deep on the red, despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almo
Read moreLondon midday: Dollar rise knocks resource stocks
15th Jun 2009 12:04
London had a difficult morning despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almost immediately squashed by the IMF saying the opposite. It believes
Read moreLondon open: Weak start for blue chips
15th Jun 2009 08:37
London's blue chips have fallen sharply with the miners taking the biggest hit. Platinum miner Lonmin leads the fallers after it shut down its Number One furnace. The group's initial estimate is that a full repair of the vessel is likely to take around 30 days. Other miners are also under pressure
Read moreLondon close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
Read moreLondon afternoon: Thos. Cook soars on bid spec
9th Jun 2009 14:39
It's been a see-saw day for London's leading shares which are now predominantly firmer, after US markets opened moderately higher. Lloyds Banking Group has confirmed press reports that it is to close its Cheltenham & Gloucester branch network in a move that will see 1,000 jobs go. Lloyds also annou
Read moreBroker tips: Tullow, Greene King, Misys
9th Jun 2009 12:29
Oil stocks generally failed to sustain early gains in London on Tuesday despite the price of Brent crude edging up by almost a dollar a barrel, but Tullow Oil remains firm after an upbeat note on the company from Deutsche Bank. Tullow remains Deutsche's top pick among UK oil explorers and producers
Read moreLondon midday: Defence stocks beat a retreat
9th Jun 2009 12:05
Leading shares are now lower, dragged down by expectations of a weak start on Wall Street and by a trimming of the strong early gains made by miners. Lloyds Banking Group is still in the blue on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Gla
Read moreBroker snap: Greene King an opportunistic buy
9th Jun 2009 11:43
Since raising £207.5m through a rights issue in late April brewer and pub chain owner Greene King has wasted little time in spending a large chunk of it to good effect, and this has not been reflected in the share price, reckons broker KBC Peel Hunt. The company announced today it has acquired 11 h
Read moreLondon pre-open: Stocks to edge higher
9th Jun 2009 07:40
Last night's late recovery in Wall Street is set to give London a modest boost this morning. The FTSE 100 is predicted to open up about 15 points as the Dow Jones erased an earlier 100-point deficit to close just in the blue. Heritage Oil is merging with Turkish exploration and production group Ge
Read morePunch Taverns sells 11 pubs to Greene King
9th Jun 2009 07:10
Punch Taverns has further rationalised its pub portfolio with the disposal of 11 outlets to rival Greene King for £30.4m cash. The pubs to be sold are freehold outlets located in central London, the south east of England and Scotland. The consideration will be satisfied in cash. Net disposal procee
Read moreBroker tips: Defence and aero stocks, JD Sports, Greene King
8th Jun 2009 13:01
Goldman Sachs has been reviewing the aerospace and defence sector and foresees a tough time from 2011 onwards for companies with a large exposure to the UK and US defence markets, on expectations of a reduction in military operations in Iraq and Afghanistan. Goldman Sachs has downgraded defence sto
Read moreBroker snap: Greene King set for expansion, says UBS
8th Jun 2009 12:35
With more than £200m in its coffers after a rights issue in April, brewer and pub operator Greene King is in a good position to start snapping up pubs from rivals, according to UBS. The broker, which has a 'buy' rating on Greene King, raised its price target to 480p from 470p. Brewer and pub owner
Read moreLondon open: Bright start for Footsie
29th May 2009 08:39
London has started the session in style following last night's three-figure gains on Wall Street. Retailers are pushing ahead led by Debenhams, Marks & Spencer and Kesa. The latest house price index from Nationwide showed a jump of 1.2% in May providing further hope that the housing market slump is
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