Greene King froths up sales but says consumers still cautious
4th Dec 2014 07:52
Pub group and brewer Greene King announced half-year record sales and higher Christmas bookings, but warned that people's incomes were still under pressure. Greene King, which has made an agreed takeover bid for rival Spirit Pub Company, said total group revenue in the 24 weeks to 19 October rose 3.
Read moreSunday share tips: Betfair, Workspace Group, VP
30th Nov 2014 15:32
Investors should back the judgment of Breon Corcoran, the Chief Executive of Betfair, Matthew Goodman argued in the Sunday Times. In the Inside the City column, Goodman said Corcoran had quietly got Betfair into shape by cutting regulatory risk and imrpoving its website, taking the shares above the
Read moreBeer tie vote creates 'significant uncertainty' for pubcos, says Barclays
19th Nov 2014 10:56
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. The government was defeated in a Commons vote on Tuesday with MPs vot
Read moreWednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreLondon midday: Stocks erase gains after UK construction data, Eurozone growth forecasts
4th Nov 2014 11:25
A slowdown in UK construction expansion and downgrades to Eurozone growth forecasts hit UK stocks on Tuesday morning, with the FTSE 100 having erased early gains by lunchtime. Well-received results from Imperial Tobacco, Associated British Foods and Legal & General weren't enough to prop up the benc
Read moreLondon open: FTSE rises as earnings impress, but oil stocks fall
4th Nov 2014 08:31
The UK stock market opened tentatively on Tuesday, with declines in the energy sector offsetting some well-received results from blue chips Legal & General, Associated British Foods and Imperial Tobacco. The FTSE 100 was up 0.2% at 6,503 in early deals. However, upside was being limited by falls fr
Read moreGreene King makes firm £773.6m bid for Spirit
4th Nov 2014 07:52
British brewer and pub group Greene King has made a firm £773.6m takeover bid for rival Spirit Pub Company, upping pressure on rival suitor C&C. Greene King, which makes Old Speckled Hen and Greene King IPA, said it had agreed an offer for Spirit with the latter's board including 0.1322 new Greene K
Read moreGreene King approaches deadline for Spirit takeover
2nd Nov 2014 15:11
FTSE 250 drinks group Greene King is expected to announce a £720m takeover of sector peer Spirit early next week. The deal being prepared is reportedly set to total £720m and follows talks between the two groups over the past few weeks. The combined group would operate more than 3,000 pubs. Spirit
Read moreGreene King given 'put up or shut up' extension for Spirit takeover
30th Oct 2014 10:44
Greene King's "put up or shut up" deadline to agree its proposed £723m takeover of rival Spirit Pub Company has been extended by five days. Spirit said on Thursday that it remained in discussions with Greene King, after agreeing to extend the deadline to 4 November. "The board remains willing to re
Read moreProfits fizz at takeover target Spirit despite tough summer
22nd Oct 2014 08:32
A strong performance by its managed pubs arm frothed up annual profits at takeover target Spirit Pub Company despite mixed summer weather and higher costs. Spirit, which said on Monday it would be willing to recommend a revised £723m takeover bid from rival Greene King subject to terms, said pre-tax
Read moreCanaccord Genuity sees win-win situation for Greene King and Spirit
20th Oct 2014 13:14
Pub groups Spirit and Greene King can both be winners from their proposed £723m merger, Canaccord Genuity said. Spirit said on Monday that it had received a fresh takeover offer from Greene King at about 109.5p per share. Spirit told Greene King it would be ready to recommend the offer to its shareh
Read moreLondon midday: Oil stocks lead UK markets lower
20th Oct 2014 11:49
Anyone hoping for a positive start to the week on the stock market following the recent volatility would have been disappointed on Monday as UK equities suffered more steep falls. London's FTSE 100 was trading 0.8% lower at 6,259 by midday with energy stocks leading the fallers as oil prices weakene
Read moreMonday broker round-up UPDATE
20th Oct 2014 09:48
African Barrick Gold: Westhouse Securities cuts target price from 285p to 230p maintaining an add rating. Antofagasta: Westhouse Securities reduces target price from 805p to 720p retaining its neutral rating. Centamin: Westhouse Securities shifts target price from 65p to 70p upgrading to buy. DCC:
Read moreLondon open: UK stocks decline as volatility continues
20th Oct 2014 08:20
UK stocks declined on Monday morning on a quiet day for economic data, with investors still showing caution following a volatile week for markets last week. The FTSE 100 was trading 0.4% lower at 6,283 in early deals. Despite a partial recovery on Friday, European equity markets registered their fo
Read moreSpirit gets fresh takeover offer from Greene King - UPDATE
20th Oct 2014 07:39
Pub group Spirit has received a fresh takeover offer from rival Greene King at about 109.5p per share. Spirit has told Greene King it would recommend the offer subject to approval of other terms and is in talks with them. Under the revised proposal, Spirit investors would get about 29% of the combin
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