Home Retail dashes hopes as Argos sales fall flat
15th Jan 2015 08:06
Citing a volatile trading environment, Home Retail assured that full year pre-tax profit remained on target despite flat sales at Argos falling short of City forecasts as Black Friday proved a disruptive force. Like-for-like (LFL) sales at Argos were up just 0.1% for the 18 weeks to 3 January, far s
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 moreFTSE 250 movers: Oil stocks slide after OPEC decision
28th Nov 2014 15:25
Oil stocks and those related to the sector tumbled following the decision by the Organization of the Petroleum Exporting Countries to maintain a steady rate of oil output, which sent the price of Brent tumbling on Thursday. Premier Oil, Enquest, Afren, Hunting, Ophir Energy and Wood Group all took a
Read moreArgos opens first London Undergound store at Cannon Street
25th Nov 2014 09:56
Argos, the retail chain owned by Home Retail Group, has opened the first in a series of click-and-collect stores in London Underground stations, with commuters able to order from their smartphones elsewhere on the tube network and collect items from the Cannon Street outlet on the same day. The stor
Read moreHome Retail begins store closures, agrees sale of freehold store
24th Nov 2014 08:38
Home Retail Group-owned Homebase has said it expects to see a small sales reduction thanks to the sale of a freehold store and initiation of a previously announced store closure programme. As a result of both the closures and the disposal, the group expects to see a reduction to sales of around 2% i
Read moreLondon midday: UK stocks pull back from six-week high despite upbeat Eurozone data
14th Nov 2014 11:28
Mining and oil shares were leading the UK stock market lower on Friday as commodity prices weakened, with the FTSE 100 pulling back after hitting its highest level in a month and a half. Nevertheless, losses were only modest in London, with sentiment supported by some reassuring growth figures from
Read moreLondon open: Resource stocks drag FTSE lower, but Eurozone data impresses
14th Nov 2014 08:28
UK stocks pulled back from their highest levels in a month and a half on Friday, though the downside was being limited by some rare positive economic data from the Eurozone. Figures released on Friday morning showed that both Germany and France returned to growth in the third quarter, reassuring the
Read moreThursday broker round-up UPDATE
23rd Oct 2014 08:33
Abcam: FinnCap moves target price from 390p to 400p keeping a hold recommendation. Anglo American: Investec places its target price (prev.: 1603p) under review keeping its buy recommendation. Arbuthnot: Numis raises target price from 1150p to 1300p upgrading from hold to add. British American Taba
Read moreHomebase to cull 25% of stores by 2018
23rd Oct 2014 03:29
DIY superstore Homebase has announced that it will close 25% of its stores over the next three years, cutting thousands of jobs in the process. The company, owned by Home Retail Group (HRG) will reduce its 323 stores by 2018 due to "inconsistent store operating standards" and "a large estate with lo
Read moreLondon open: UK stocks slip as investors await MPC minutes
22nd Oct 2014 08:50
UK stocks opened with small losses on Wednesday as investors paused for breath following a surge the previous session. The FTSE 100 was trading 0.2% lower at 6,360 in early deals. London's benchmark index jumped 1.7% to a one-week closing high of 6,372 on Tuesday on reports that the European Centra
Read moreLondon pre-open: FTSE to track gains in Asia ahead of BoE minutes
22nd Oct 2014 07:37
UK stocks are set to continue higher in Wednesday's session following a strong performance in Asia overnight, thanks in part to positive data out from Japan and Australia. City sources predict the FTSE 100 will open around 22 points higher than Tuesday's close of 6,372.33. "European markets will lo
Read moreHome Retail posts higher H1 profits but says Christmas is key
22nd Oct 2014 07:13
Argos and Homebase owner Home Retail reported higher first half sales and profits, driven by people buying DIY and garden products at Homebase during the summer, but cautioned that the group's full year results would depend on a good Christmas for Argos. Home Retail said sales in the 26 weeks to 30
Read moreFTSE 250 movers: Retail stocks lead rise as footfall decline slows
21st Oct 2014 14:38
Retail stocks were putting in a strong performance on Tuesday after data from BRC-Springboard showed the decline in UK retail footfall eased to 0.9% in September from a 1.1% drop in August. Stocks such as Debenhams, Home Retail, Just Eat, WH Smith and Halfords were all in positive territory. "With a
Read moreLondon midday: Ebola fears, macro concerns hit UK stocks
8th Oct 2014 11:34
Fears about a possible Ebola outbreak in Europe and continued concerns about the global economy were weighing on UK stocks on Wednesday. The FTSE 100 was down 0.3% at 6,475 by around midday with cyclical stocks and airlines providing a drag. Risk appetite was also being held back by nervousness ahe
Read moreLondon midday: UK stocks near one-month low as retailers drop
16th Sep 2014 11:49
UK stocks were trading at levels not seen in nearly a month on Tuesday as a sharp drop in German economic confidence and disappointing data from China dampened sentiment. A profit warning from online fashion retailer ASOS and a disappointing updates from Thomas Cook, N Brown and Crest Nicholson were
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