London open: Retailers slide as sales decline
9th Jun 2011 08:21
Retailers are posting hefty losses after a raft of updates but a rally in mining stocks is helping to cushion the blow. In the FTSE 100, Marks & Spencer and B&Q owner Kingfisher are among the heaviest fallers, while South American copper miner Antofagasta rallies after declining on the back of the
Read moreLondon pre-open: Stocks to slip after retail updates
9th Jun 2011 07:44
Stocks are expected to fall back slightly as investors digest a raft of cautious-to-gloomy updates from the retail sector. Continuing difficulties at the catalogue-based retailer Argos continue to plague its owner Home Retail Group, which has announced an 8.1% fall in sales at the chain to £817m in
Read moreHalfords grows sales despite retail woes
9th Jun 2011 07:15
Car parts and bikes retailer Halfords reported a solid set of full year results despite ongoing retail sluggishness, helped by improved gross margin and cost control. Underlying pre-tax profit rose 7.2% to £125.6m for the year to 1 April 2011, in line with forecasts, while group revenue increased
Read moreThursday preview: Halfords, PZ Cussons, Bank of England
8th Jun 2011 14:58
Halfords, the car parts and bikes retailer, has had a sticky time of it over the last year but is still set to announce a solid increase in pre-tax profits. The market is expecting profits of £124.3m, versus £117m the year before. The company has already issued guidance for this measure, with a ran
Read moreWeek Ahead: Halfords, Phoenix IT, BoE rate decision
3rd Jun 2011 15:50
There are not many big guns releasing trading updates next week, leaving the stage clear for second liners such as Halfords. The car parts and bikes retailer has had a sticky time of it over the last year but is still set to announce a solid increase in pre-tax profits, with the market expecting pr
Read moreLondon close: Shares in late dive
7th Apr 2011 16:43
Shares were little changed for much of the day as central banks in London and Frankfurt acted as expected, but another earthquake in Japan sent jitters through markets ahead of the close. The Bank of England kept its key lending rate unchanged. The European Central Bank, however, stuck to its scrip
Read moreLondon afternoon: FTSE 250 stocks take a bashing
7th Apr 2011 15:12
The blue-chip index moved into positive territory over the lunch time trading session as the Bank of England removed all doubt about its current focus on the health of the economy, rather than the inflation risk, and kept its key lending rate unchanged. The European Central Bank, however, stuck to
Read moreFTSE 250 movers: Gaming firms dealt a blow
7th Apr 2011 14:37
The biggest movers of the day appear to be the gaming firms with Betfair and bwin.party unwanted. The latter is 14% under as of Thursday afternoon. Germany's State Lottery Treaty has proposed a 16.67% levy on sports betting stakes, worrying investors in both groups that the operations in the countr
Read moreLondon midday: Shares unchanged after Bank holds rates
7th Apr 2011 12:21
Shares are little changed after the Bank of England kept interest rates unchanged at 0.5%. The decision was expected, while the ECB is expected to raise interest rates for the first time since they were slashed in the wake of the financial crisis. Turning to stocks, the retail sector has come back
Read moreBroker snap: Halfords' update 'a mixed bag'
7th Apr 2011 11:09
Peel Hunt cuts forecasts at Halfords after the car and bike parts retailer provided disappointing outlook for 2012. The fourth quarter statement was a mixed bag, according to the broker, who noted an overall like-for-like (LfL) sales decline of 6.8%, despite "an unexpected recovery" in bike sales.
Read moreLondon open: Nervous start ahead of rate decisions
7th Apr 2011 08:27
Shares are in nervous mode this morning ahead of rate decisions from the Bank of England (BoE) and the European Central Bank(ECB) later today. The BoE is expected to keep rates unchanged at a record low of 0.5%, but the ECB is expected to press ahead with its first rate rise since they were slashed
Read moreLondon pre-open: More woe for retailers
7th Apr 2011 07:36
The market looks set to crawl higher at the outset with City traders predicting the top share index will open six or seven points higher despite further evidence from results this morning of hard times on the high street. In the first quarter of 2011 international recruitment firm Hays saw like-for
Read moreTough times at Halfords though bike sales recover
7th Apr 2011 07:04
Bicycle and car part retailer Halfords predicted a continuing tough trading environment as it posted a sharp fall in like-for-like sales in the 13 weeks to 1 April and lowered its profits forecast. Like-for-like sales from the company's retail outlets were down by 6.8% from the same period the prev
Read moreThursday preview: BoE rate decision, Halfords, Hays
6th Apr 2011 17:13
The Bank of England's Monetary Policy Committee (MPC) will announce its decision on its key lending rate and also on the quantitative easing programme at noon on Thursday, some 45 minutes ahead of the announcement by the European Central Bank (ECB) of its decision on its key lending rate. Unlike th
Read moreSector movers: M&S gives retailers a boost
6th Apr 2011 14:22
Retail giant Marks & Spencer is performing well after strong fourth quarter trading statement, providing a boost to the 'general retail' sector. Blue chips Next and Kingfisher are also higher. Peel Hunt upgraded M&S to a 'hold', from 'sell', after results from both general merchandise and food divi
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