London midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreLondon close: Footsie tumbles over 2%
2nd Sep 2011 16:30
The Footsie finished over 2% down on Friday, as London was not immune from the global sell-off, meaning that just eight out of the 100 blue chips stocks closed in the blue. After a poor start in early trade, sentiment was dampened after a worse-than-expected jobs report in the US which showed that n
Read moreFTSE 250 Movers: Home Retail Group drops after warning from UBS
2nd Sep 2011 13:20
The Home Retail Group saw its share price take a tumble after UBS analysts said that it was highly likely that the firm's second quarter results, due next week, will show a continued troubled performance. The company, which owns Argos and Homebase, reported poor first quarter results in June which
Read moreCroda boss Flower's stake grows
28th Jul 2011 17:36
Croda's chief executive Martin Flower spent more than £56,000 on shares in the speciality chemicals company - only to see the value of the shares fall on the back of its interim results. He took 3,000 shares at 1,892.2p a time and now has nearly 26,000. Shares in the company, which supplies chemica
Read moreFTSE 250 movers: Berkeley surges after full-year results
24th Jun 2011 14:51
London and south-east house builder Berkeley Group reported forecast-beating figures on Friday, on both the sales and the profit level, helping shares 9% higher. As a result, Panmure Gordon raised its target price by a fifth from 911p to 1,100p. Imagination Technologies, which makes graphics techn
Read moreArgos owner homing in on Habitat
24th Jun 2011 10:44
The owner of Argos, Home Retail Group, has bought the struggling designer brand Habitat. The £24.5m deal includes Habitat's brand designs and intellectual property in the UK and the Republic of Ireland. Home Retail Group is also acquiring the Habitat UK website and three of the company's London st
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreFTSE 250 movers: Supergroup plummets ahead of retail data
15th Jun 2011 14:43
The retailers are falling lower ahead of UK retail sales figures due to be released on Thursday. Supergroup, Dixons Retail and Home Retail are among the worst performers, with Supergroup falling over 8%. Regus is leading the risers after withdrawing its offer for MWB Business Exchange earlier this
Read moreLondon close: ENRC leads FTSE 100 slide
10th Jun 2011 16:26
The top share index slid below the 5,800 point mark heading into the weekend. ENRC, the Kazakh resources giant, was nursing heavy losses by the close of play. The company is set to lose a third independent board director according to reports in the Financial Times. The loss of Mehmet Dalman would
Read moreFTSE 250 movers: Retailers drop, JD leads the fallers
10th Jun 2011 14:14
Seven of the ten top fallers are from the retail sector, with JD Sports Fashion losing over 6%. The Tempus column in the Times this morning said that, while the sports apparel chain is a more robust business than most on the high street, "with the shares on less than nine times this year's earnings,
Read moreBroker tips: Lonmin, Home Retail, Metminco
10th Jun 2011 12:22
UBS has initiated coverage on Lonmin with a 'sell' rating and 1,500p target price, highlighting its concerns over the current cost environment. "Lonmin is one of the highest-cost producers in the platinum industry, and is significantly exposed to the major cost pressures of wage inflation, electric
Read moreBroker snap: Nomura cuts estimates at Home Retail
10th Jun 2011 11:26
Nomura has pulled back its target price for Home Retail Group by 20p, on the back of margin pressures and concerns at its Argos chain. The Argos and Homebase owner reported a "disappointing" first quarter, according to the Japanese broker, in which like-for-like (LFL) sales declined sharply (by 9.6
Read moreSector movers: Home Retail drags retailers into the red
9th Jun 2011 16:06
Unsurprsingly, the retailing sector is the worst performing sector on Thursday, after Home Retail Group took a dive. Home Retail has taken a plunge after revealing an 8.1% fall in sales at its catalogue-based retailer Argos in the 13 weeks to 28 May. "Trading conditions, particularly at Argos, have
Read moreFTSE 250 movers: Retailers take a hit as Home Retail dives
9th Jun 2011 15:58
Home Retail has taken a plunge after revealing an 8.1% fall in sales at its catalogue-based retailer Argos in the 13 weeks to 28 May. "Trading conditions, particularly at Argos, have proved to be more difficult and volatile than anticipated," chief executive Terry Duddy said. Retailing peers Dixon
Read moreLondon midday: FTSE 100 unchanged despite retail slump
9th Jun 2011 12:14
Retailers are heavily under the cosh today after a raft of gloomy updates, but the top share index is little changed as investors await US jobs data due later in the afternoon. Ongoing difficulties at the catalogue-based retailer Argos continue to plague its owner Home Retail Group, which has annou
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