Government U-turn on 'pasty tax'
29th May 2012 07:47
The Government is to back down on plans to introduce VAT on hot savouries, such as Cornish Pasties. It will also cut the level of VAT it intends to levy on static caravans from 20% to 5%. The 'pasty tax' in particular proved damaging for the government, leading to accusations that its leadership w
Read moreWednesday broker round-up - UPDATE
16th May 2012 08:26
Babcock: UBS raises target from 880p to 950p, buy recommendation unchanged. Barclays: UBS upgrades from neuter lot buy, target cut from 272p to 215p. Cineworld: Merchant Securities maintains buy rating and 244p target. Compass Group: Numis upgrades from add to buy, target left at 750p. Experian:
Read moreGreggs slams government pasty tax again
16th May 2012 07:50
High street baker Greggs has used its latest market update to attack the "unworkable" VAT rise the government has planned for freshly baked food. A consultation on the proposed tax ends on Friday, which could be introduced October and would add 20% to freshly-made items such as pasties, pies, and s
Read moreSector movers: Miners wanted after comments from Chinese PM
25th Apr 2012 15:10
The mining sector, a category often sensitive to the outlook for the Chinese economy, was making gains on Wednesday afternoon after the country's Prime Minister sought to ease concerns about slowing growth. Wen Jiabao said yesterday that the world's second-largest economy will continue to growth at
Read moreFriday broker round-up - UPDATE
16th Mar 2012 10:27
4imprint: Peel Hunt keeps buy rating and 345p target. Aegis: Nomura reiterates buy rating and 210p target; HB Markets upgrades from sell to hold. Antofagasta: Jefferies keeps hold and 1,214p target. Bunzl: Goldman Sachs downgrades from neutral to sell, target lifted from 940p to 988p. Diageo: Je
Read moreThursday tips round up: Yule Catto, Greggs, Soco
15th Mar 2012 06:48
Questor in the Telegraph is sticking by his recommendation for polymer maker Yule Catto. The Harlow based firm saw underlying profits rocket 99% last year, resulting in a 10% jump in the share price yesterday. The firm already makes 40% of revenues from emerging markets but intends to grow this over
Read moreFTSE 250 movers: Yule Catto leaps after profits double
14th Mar 2012 14:39
Shares in Yule Catto soared into the top spot on the FTSE 250 leader-board after the Essex headquartered polymer business announced it had doubled profits in 2011. Underlying profit before tax at the firm was up 99% to £84.8m in 2011, largely due to its PolymerLatex acquisition in March, which doubl
Read moreLondon midday: Financials jump despite jobs data
14th Mar 2012 11:43
- UK unemployment on the rise - Banking stocks lifted by US stress test results - Legal and General beats forecasts in 2011 Stocks held on to earlier gains by lunchtime on Wednesday despite some gloomy jobs data. Financials were leading the rise, buoyed by the results of the stress tests in the US
Read moreWednesday broker round-up
14th Mar 2012 10:02
Antofagasta: Fox-Davies upgrades from sell to hold, target lifted from 1,121p to 1,197p. AZ Electronic Materials: Goldman Sachs upgrades from buy to conviction buy, target raised from 380p to 440p. Close Brothers: UBS raises target from 690p to 750p, neutral rating kept. Computacenter: UBS raises
Read moreLondon open: Legal and General leads the Footsie higher
14th Mar 2012 08:28
- Legal and General jumps five per cent after solid 2011 - Majority of US banks pass stress tests - Osborne considering 100-year gilts London's blue chips rose strongly on Wednesday morning, led by financial stocks, following on from a surge on Wall Street last night. The Footsie opened up at level
Read moreLFL sales shift into reverse at Greggs
14th Mar 2012 07:27
Hot snacks seller Greggs ended 2011 on a roll with like-for-like sales growth picking up sharply in the fourth quarter, but 2012 has got off to a slow start. Sales growth in 2011 was a bit more than the market expected after a strong finish to the year while the profit before tax figure was a tad u
Read moreLondon close: Euro worries pull Footsie lower
11th Jan 2012 16:58
Eurozone debt worries weighed on London's stock market today with some disappointing economic data from the region's largest economy dampening the mood. Energy stocks led the decline on the FTSE 100, tracking oil prices lower. SOVEREIGN DEBT CRISIS RUMBLES ON News that German gross domestic produc
Read moreLondon midday: Stocks retreat, Unilever drops after downgrade
11th Jan 2012 11:49
After trading within a narrow 20-point range for most of the morning, it seems if the Footsie has found its direction, dropping around 40 points by midday, with Eurozone concerns once again in the spotlight. Euro-area gross domestic product growth slowed to 0.1% quarter-on-quarter in the third quar
Read moreLondon open: Footsie pulls back early on
11th Jan 2012 08:16
The FTSE 100 nudged lower in early trading on Wednesday despite a decent start for retailers, as investors pause for breath following yesterday's sharp rise, which was sparked by the announcement that Fitch does not intend to downgrade France this year. After a strong showing yesterday, the heavywe
Read moreLondon pre-open: Sainsbury lights up at Christmas
11th Jan 2012 07:22
City sources predict the FTSE 100 will open down 13 points from yesterday's close of 5,696 as investors pause for breath following yesterday's sharp rise, which was sparked by the announcement that Fitch does not intend to downgrade France this year. Supermarket chain Sainsbury was widely expecte
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