Greene King full-year in line but organic growth lacklustre, says Nomura
1st Jul 2015 11:08
Greene King's full-year results are in line, but organic growth is lacklustre, Nomura said in a note. It said adjusted pre-tax profit of £168.5m was in line with its estimate and Bloomberg consensus. The Japanese bank said the year was marked by transition in the pub estate, with dilution from the
Read moreLondon open: FTSE rebounds after sell-off as Greece defaults
1st Jul 2015 08:25
UK stock markets advanced on Wednesday morning, bouncing back after a Greece-inspired sell-off pushed the FTSE 100 to a new five-month low the previous session. As expected, Greece defaulted on its €1.6bn repayment to the IMF on Tuesday night, with the institution officially declaring that Athens wa
Read moreLondon pre-open: Stocks to bounce despite Greek default on IMF loan
1st Jul 2015 07:47
UK stocks are expected to bounce off a five-month low on Wednesday despite Greece becoming the first developed economy to default on a repayment to the IMF. City sources predict the FTSE 100 will open 42 points higher than Tuesday's close of 6,520.98, its lowest finish since 12 January. The IMF on
Read moreGreene King posts record retail revenue but full-year pre-tax profit drops
1st Jul 2015 07:07
Pub group Greene King reported record retail revenue in its full-year results, although profit fell on the back of lower like-for-like sales and the impact of the disposal of 275 pubs to Hawthorn Leisure. Retail revenue for the 52 weeks to 3 May 2015 came in at £1bn, up from £963m last year, while t
Read moreSector movers: Engineering, oilfield service companies keep London market in the green
23rd Jun 2015 16:32
Industrial engineering and oilfield services stocks kept the London market in positive territory on Tuesday as fears of Greece defaulting on its debt appeared to be receding. At 1545 BST, the blue chip FTSE 100 was trading up 0.34% or 23.22 points at 6,848.890 as the headline Markit/HSBC Chinese man
Read moreBroker Tips: Johnson Matthey, Vodafone, Greene King, Sports Direct, Diageo
23rd Jun 2015 14:12
Johnson Matthey rose 2.4% on Tuesday, topping the FTSE 100 leader board after Citigroup upgraded the stock to 'buy' from 'neutral' and raised the price target to 3,600p from 3,200p. Citi pointed out that 50% of the company's earnings before interest and tax is based on emission catalysts for light d
Read moreBarclays upgrades Greene King to 'overweight'
23rd Jun 2015 09:51
Barclays upgraded Greene King to 'overweight' from 'equalweight' and raised the target price to 935p from 835p. It said Greene King has one of the strongest investment cases in the sector due to its expansion programme and rising return on capital employed. Barclays pointed to the potential for mid
Read moreLondon open: FTSE edges higher on latest Greek reports, ahead of US retail sales
11th Jun 2015 08:23
UK stocks were little changed in early trade, but were seen moving marginally higher after initial losses. The FTSE 100 had inched five points higher to 6,835.39 by 09:00. With little out in the way of European data, investors will likely be paying close attention to the situation with Greece follo
Read moreGreene King takeover of Spirit Pub no longer conditional on CMA approval
11th Jun 2015 08:21
Greene King's takeover offer for Spirit Pub is no longer conditional on approval from the UK Competition and Markets Authority, as the company has waived the CMA approval condition to which the offer was subject. Greene King is buying Spirit in a £774m takeover. Spirit shares are expected to be del
Read moreGreene King may get CMA approval for Spirit Pub takeover
26th May 2015 13:49
The UK's Competition and Markets Authority said on Tuesday that it has considered the undertakings offered by brewer and pubs operator Greene King in respect of its acquisition of Spirit Pub Co and that it may be willing to give the stamp of approval to the deal. Chief executive Rooney Anand said: "
Read moreFTSE 250 movers: Thomas Cook upgraded, pub stocks rebound
12th May 2015 13:11
Thomas Cook Group led the risers after Credit Suisse said it sees an attractive risk-reward balance at the tour operator upgrading its rating from 'neutral' to 'outperform'. Greene King rebounded from Monday's losses, which came as the Competition and Markets Authority said that its bid for sector p
Read moreCMA could refer Greene King bid for Spirit for a second investigation
11th May 2015 12:44
The Competition and Markets Authority has said that Greene King's bid for sector peer Spirit Pub Company will be referred for an in-depth phase II investigation, unless acceptable undertakings are offered. Greene King and Spirit run respectively around 1,900 and 1,200 pubs and small restaurants in t
Read moreFTSE 250 movers: Supergroup soars on full-year confidence, Aveva higher on takeover rumours
6th May 2015 13:25
Supergroup topped the risers after it claimed it was confident to meet its full-year guidance, on the back of an increase in sales in the fourth quarter. The fashion retailer reported a strong performance in its retail division, following "clearance activity" in the previous quarter, while it expect
Read moreBroker tips: Vodafone, Sainsbury's, Aberdeen, Greene King
6th May 2015 11:27
Exane BNP Paribas said it sees "much better times ahead" for Vodafone as it upgraded its view on the stock from 'neutral' to 'outperform'. "The combination of a dramatically improved proposition (both absolute and relative), the secular trend of increased data consumption and the benefits of an impr
Read moreGreene King downgraded to 'hold' by N+1 Singer
6th May 2015 10:32
N+1 Singer has cut its recommendation for Greene King from 'buy' to 'hold' after a "soft trading update" from the pubs group on Tuesday. Analyst Sahill Shan said that guidance for a higher net-interest charge and lower assumed like-for-like (LFL) sales growth has prompted downgrades to forecasts ove
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