London midday: Eurozone worries cast a shadow
19th Sep 2011 12:03
London's blue chip index is stuck below 5,300 points as the Eurozone saga rumbles on. Investors seeking a resolution to the problems were disheartened after a meeting of EU finance ministers in Poland on Friday failed to live up to expectations. "There is a firm 'risk-off' tone to the start of the
Read moreLondon open: Banks unwanted as euro worries continue
19th Sep 2011 08:43
London's blue chip index sank below the 5,300 level in the opening minutes on Monday, as the debt crisis in Europe took centre stage again, dampening sentiment. Investors seeking a resolution to the problems were disheartened after a meeting of EU finance ministers in Poland on Friday failed to li
Read moreSector movers: Kingfisher, Dunelm, Home Retail pull retailers higher
16th Sep 2011 15:16
Kingfisher and Dunelm pulled the general retailing sector to the top of the pile on Friday, extending gains made yesterday on the back of some strong results. Kingfisher, the company behind the Screwfix and B&Q brands, was among the top risers on the FTSE 100 for the second day in a row after it an
Read moreLondon close: Footsie jumps on euro hopes
15th Sep 2011 16:27
After an already strong start to trading on Thursday on the back of a Franco-German statement on Greece, markets across Europe surged following a European Central Bank (ECB) announcement in mid-afternoon, helping the Footsie in London finish over 2% higher. Early on, investors celebrated last night
Read moreFTSE 100 Movers: Burberry leads the way
15th Sep 2011 12:56
Iconic British luxury brand Burberry was leading the surge on the FTSE 100 on Thursday, on speculation that it could see a reduction in luxury goods taxes in a key market - China. Chinese newspaper National Business Daily has refuelled the debate, reporting that import duties on luxury items may be
Read moreBroker tips: UK banks, GKN, Kingfisher
15th Sep 2011 12:47
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks. "In our view, [HSBC's] relative performance will depend on risk appetite and in particular sentiment towards official
Read moreBroker snap: Prime Markets upgrades Kingfisher to buy
15th Sep 2011 12:43
With Kingfisher's shares having come a long way down since their 52-week high of 287.1p in May, Prime Markets has upgraded the stock from sell to buy, saying that any negativity should now be factored in. Kingfisher, the company behind the Screwfix and B&Q brands, said on Thursday that it has seen
Read moreLondon midday: Stocks gain on Eurozone hopes
15th Sep 2011 12:09
A combination of some well-received updates from the retail sector and hopes that Nicolas Sarkozy and Angela Merkel will sort out the Euro crisis has sent shares soaring. The Americans and the Chinese have told Eurozone leaders to get their house in order and president Sarkozy of France and German
Read moreRetail sales fall 0.2% in August
15th Sep 2011 09:39
Retail sales fell by 0.2% in volume terms in August, new figures from the Office of National Statistics show, with the outbreak of looting helping to bring about a reverse from the previous month's 0.2% rise. The 0.2% fall was not as severe as the 0.3% drop that had been expected. Sales volumes in
Read moreLondon open: Kingfisher and Dunelm lead retail risers
15th Sep 2011 08:33
Shares are going well in early dealings, with the retailers Kingfisher and Dunelm in demand after results. Kingfisher is flying high after it saw its underlying profit before tax in the 26 weeks to 30 July rise 24% from a year earlier to £439m, on the back of a 3.8% rise in sales. That comfortably
Read moreKingfisher's Screwfix expansion to provide UK jobs boost
15th Sep 2011 07:54
Kingfisher, which issued a well-received set of results on Thursday morning, is to create more than 1,200 new jobs in the UK as it expands its B&Q and Screwfix operations. The expansion plans will bring Kingfisher's total investment in the UK this year to £130m, the company said, with a combined to
Read moreLondon pre-open: Kingfisher to sparkle
15th Sep 2011 07:22
Yesterday's afternoon's surge is set to continue this morning, with City traders predicting the the FTSE 100 will open around 70 points up from yesterday's close of 5,227 Kingfisher saw its underlying profit before tax in the 26 weeks to 30 July rise 24% from a year earlier to £439m, on the back of
Read moreKingfisher increases focus
15th Sep 2011 07:07
Kingfisher, the company behind the Screwfix and B&Q brands, has seen like-for-like sales grow 1.6% in the first half of its 2011-2012 financial year with total sales, including newly acquired assets, rising 3.8%. Headline pre-tax profits rose 24% during the year to £439m from £354m last year, and t
Read moreThursday preview: Retailers in focus
14th Sep 2011 17:21
Panmure Gordon is expecting DIY retailer Kingfisher to prolong its recent record of strong growth when it announces interim results on Thursday. "We look for H1 [first half] pre-tax profits to rise by 14% to £409m, driven by a strong sales performance in France, gross margin growth in all of its m
Read moreLondon close: Miners, banks unwanted as Footsie falls 1.6%
12th Sep 2011 16:28
Despite finishing over 1% down, the FTSE 100 managed to pull back slightly despite a broad sell-off across Europe and a mixed start on Wall Street. Concerns over Europe's sovereign debt crisis were escalated today on speculation that Greece is headed for a default. Meanwhile, Greece's prime ministe
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