London close: Stocks erase losses as ITV, StanChart and IAG gain
4th Mar 2015 16:41
After a weak start, UK markets managed to push into positive territory by Wednesday's close as decent gains from ITV, Standard Chartered and IAG offset some heavy falls in the mining sector. The FTSE 100 snapped three days of losses to finish up 0.44% at 6,919.24. Economic data from across the glob
Read moreFTSE 250 movers: Greggs higher on shareholder returns
4th Mar 2015 15:14
Greggs topped the risers after the baker grew its pre-tax profit last year by 50%, allowing it to return up to £10m to shareholders in the first half of 2015 by resuming its share buyback programme. The company's chief executive, Roger Whiteside, noted that 2014 was a year of significant change and
Read moreWednesday broker round-up
4th Mar 2015 10:16
Electrocomponents: Peel Hunt takes up to a buy. Pearson: Morgan Stanley keeps at overweight, target reiterated at 1,500p. StanChart: Shore Capital stays at buy. Moneysupermarket: UBS lifts to buy, raises target to 260p from 240p. Rightmove: Citi raises to neutral. Barclays: Deutsche keeps at buy
Read moreGreggs pledges to return cash to shareholders after boosting profits
4th Mar 2015 08:10
British baker Greggs on Wednesday grew its pre-tax profit last year by 50%, allowing it to return up to £10m to shareholders in the first half of 2015 by resuming its share buyback programme. Greggs, which has 1,650 retail outlets throughout the UK, reported a pre-tax profit of £49.7m in 2014 up fro
Read moreLondon close: Retailers provide a lift as inflation data boosts economic hopes
13th Jan 2015 16:48
UK stocks put in decent gains on Tuesday as a sharper-than-expected slowdown in inflation boosted hopes for consumer spending and pushed back projections for the first rate raise. A strong start to corporate earnings season in the States and increased hopes for further stimulus by the European Centr
Read moreFTSE 250 movers: Greggs on the rise, Debenhams falls after positive Christmas sales
13th Jan 2015 15:01
Debenhams was falling despite record Christmas sales. Although the company saw a 4.9% rise in underlying sales in the last four weeks of 2014, it recorded a 0.8% drop over the last three months. Greggs was rising after revealing an 8.2% boost in December like-for-like sales. The company announced th
Read moreSector movers: Morrisons, Greggs and ASOS lead retailers higher
13th Jan 2015 14:56
The exit of frontman Dalton Philips at Wm Morrison and signs of improving sales trends at the UK grocer were welcomed by the market on Tuesday, with food retailers topping the risers list in London. Well-received trading updates from the likes of Greggs also provided a boost to the food sector, whil
Read moreLondon open: Retailers boost market ahead of inflation data, Morrison jumps
13th Jan 2015 08:57
Well-received updates from a host of retailers were giving UK stock markets a boost on Tuesday morning, as investors awaited some key inflation data. The FTSE 100 was up 0.2% at 6,514 early on with Wm Morrison leading the rise. Data due out at 09:30 is forecast to show that the annual rate of consu
Read moreGreggs beats expectations with meaty Christmas treat
13th Jan 2015 08:05
A very strong post-Christmas update from meaty treats retailer Greggs led management to boast that full year results will beat current expectations. Christmas like-for-like (LFL) sales rose 8.2% in the five weeks to 3 January, versus a 3.1% rise in the same period a year ago, which has lifted the fo
Read moreFTSE 250 movers: Food retailers take a hit while energy stocks soar
23rd Dec 2014 09:41
Retail stocks were mixed on the day before Christmas Eve. Home Retail Group, N Brown Group and Supergroup were advancing as last-minute shoppers headed online and hit the high street. Shares in Workspace Group were rising after the company agreed a cash payment of £30m to terminate the proceeds sha
Read moreTuesday tips round-up: Greggs, Cohort
16th Dec 2014 11:40
The fortunes of Greggs seem to have taken a turn for the better. Its latest trading update was a positive surprise, it actually showed growth in like-for like sales accelerating to a 5.4% clip over the 11 weeks to 13 September. That comes after three profit warnings since the previous chief executiv
Read moreLondon close: Oil price slide fuels fall in equities as rouble tumbles
15th Dec 2014 16:45
Oil prices embarked on fresh falls on Monday, dragging the London market down with them. The price of a barrel of US light crude had dropped about 3.7% to $57.8 towards the end of the trading session while a barrel of Brent crude fell just under 3% to $61.85. The falls fueled a 117.91-point fall in
Read moreBroker tips: Weir Group, IAG, Greggs
15th Dec 2014 11:15
Even under the most bearish scenario, at current prices there is upside potential to engineering outfit Weir Group's share price, analysts at Deutsche Bank said in a note e-mailed to clients dated 12 December. The company has exposure to the drop in the oil price, given that it sells pressure pumps
Read moreLondon midday: Stocks steady ahead of US data
15th Dec 2014 11:15
UK stocks were holding higher ahead of a week full of potential risk events. Significantly, on Sunday Bloomberg reported that Libya was forced to declare "force majeure" at two of its ports, Es Sider and Ras Lanuf, which have a combined capacity to export 560,000 barrels of oil per day. Somewhat ir
Read moreBrokers set to boost forecasts for Greggs after positive update
15th Dec 2014 09:06
Liberum Capital and Shore Capital are reviewing their forecasts for Greggs after the bakery chain forecast annual profits above market hopes. Greggs said on Monday that full-year profit in the 53 weeks to 3 January should be ahead of analysts' expectations after it benefited from milder weather, sho
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