London midday: Shares back in fashion
24th Mar 2011 12:25
Footsie burst through the 5800 barrier this morning and continued heading higher, helped by some strong updates from retailers Next and Kingfisher. Both firms made good money last year and increased their dividends accordingly. Next paraded a 9% rise in full-year profit to a new record, exactly wh
Read moreLondon open: Retailers shine in dull market
24th Mar 2011 08:12
Retailers are in focus in London, providing some badly needed interest in a market that has been sleep-walking since the Chancellor of the Exchequer stood up to give his speech yesterday. Next paraded a 9% rise in full-year profit to a new record, exactly what the City was expecting following guida
Read moreKingfisher matches forecasts
24th Mar 2011 07:29
Do-it-yourself retailer Kingfisher built profits by 19% last year, pretty much in line with market expectations. The B&Q owner made £671m in the year ended 29 January, up from £566m last time. The increase was 22.5% when adjusted for one-off items. Sales fell 0.5% to £10.45bn, in line, but rose 0.5
Read moreThursday preview: Next, Kingfisher, Ted Baker
23rd Mar 2011 18:06
Thursday has a fashionable look to it, with retailers Next and Ted Baker both reporting. Next will most likely be relying on its online and catalogue arm, Next Directory, to drive growth. Charles Stanley is forecasting operating profit at Next Retail will be flat at £320m, though the operating ma
Read moreFTSE 100 movers: Anglo American declines on JV
18th Feb 2011 12:56
The market was not too impressed with Anglo American's UK cement and aggregates joint venture with Lafarge. Anglo American will put its Tarmac business into the 50/50 joint venture. The businesses have combined revenues of £1.8bn and there could be cost savings of £60m a year. In 2010, Anglo Ameri
Read moreLondon close: Blue chips close flat
17th Feb 2011 16:51
Footsie closed the day a shade higher having traded in a very narrow range all day as both buyers and sellers seem preoccupied with other things. Life insurance consolidator Resolution closed as top performer saying it is unlikely to make any further acquisitions this year. Instead, it will focus
Read moreLondon afternoon: Footsie stumbles after US CPI data
17th Feb 2011 14:43
Footsie fell back over the lunchtime session with sentiment taking a knock from a bigger than expected increase in US consumer prices. The US Consumer Price Index rose 0.4% in January, as it did in December, on the back of higher fuel and food prices. Economists had pencilled in a 0.3% rise. On th
Read moreLondon midday: Shares little changed
17th Feb 2011 12:07
Banks are setting the pace today, while other stocks are moving in both directions after updates. The FTSE 100 is flat overall. Nomura says Lloyds Banking Group is the preferred name of the UK lenders, and has the best exposure to recovery of traditional banking, without the overhang of a capital m
Read moreLondon open: Shares edge higher
17th Feb 2011 08:40
The FTSE 100 has moved higher in early dealings, with miners helping to offset weakness on the back of company updates. African Barrick Gold, which yesterday announced strong sales figures for the full year, is leading the mining sector - and the FTSE 100 - higher. However, elsewhere in the FTSE
Read moreLondon pre-open: Footsie to creep ahead
17th Feb 2011 07:38
Last night's two-year high on Wall Street and further gains in the Far East this morning look like nudging London up a couple of points in early trade. There's also the usual stampede of company results. B&Q owner Kingfisher expects full-year profit to be at the top end of expectations after stren
Read moreKingfisher sees top-end profits after strong quarter
17th Feb 2011 07:06
B&Q owner Kingfisher expects its full-year profits to be at the top end of expectations after strength in the international business helped the DIY retailer shrug off weather- and economy-related difficulties in Britain and Ireland in the fourth quarter. Like-for-like sales in Britain and Ireland d
Read moreThursday preview: Kingfisher, Reed Elsevier, Ladbrokes ...
16th Feb 2011 15:53
Thursday is, as usual, set to be a busy day, with updates expected from Redrow, BAE Systems, Ladbrokes, Rathbone Brothers, Reed Elsevier, Cable & Wireless Worldwide, Kingfisher and Sports Direct International. Do it yourself retailer Kingfisher will be giving a sales update covering the fourth quar
Read moreFTSE 100 movers: Retailers on the slide
11th Feb 2011 14:13
Retailers are among the main fallers after some weekly sales figures from unquoted retailer John Lewis. Next, Marks & Spencer, Kingfisher and Burberry are all lower after underwhelming sales figures from the John Lewis. There was a 1% rise in sales in the week to February 5 from the same period l
Read moreWhitbread seats Kingfisher chief on board
27th Jan 2011 17:30
Hotel and restaurant owner Whitbread has brought in the boss of Kingfisher as a non-executive director to replace Philip Clarke who's leaving to run Tesco. Ian Cheshire joins the board of the Costa Coffee and Premier Inn firm at the beginning of February, a month before Clarke takes over from Sir T
Read moreFTSE 100 movers: Mining sector boosted by Citi note
27th Jan 2011 13:20
Mining shares are rising today with Fresnillo the biggest mover after Citigroup published a positive note on the sector. Randgold Resources was upgraded from neutral to overweight by HSBC. Satellite broadcaster BSkyB reported a strong rise in profits in the six months to December 2010. Pre-tax p
Read more