Credit Suisse cuts targets on M&S and Next
24th Jun 2016 13:40
(ShareCast News) - Analysts at Credit Suisse slashed their target prices for Marks&Spencer and Next stock on the back of expectations for lowering economic growth in the UK and weakness in sterling. The Swiss broker said that following the referendum result it now expected British GDP to shrink by 1
Read moreWednesday newspaper round-up: Osborne, BHS, Kingfisher
15th Jun 2016 07:23
(ShareCast News) - George Osborne will threaten today to put 2p on the basic rate of income tax, raise fuel duty and slash spending on health, education, defence and pensions in an emergency budget in the weeks after a Brexit vote. In the Remain campaign's most explicit ultimatum to voters, the chan
Read moreKingfisher improves total Q1 sales in 'solid start' to year
13th Jun 2016 12:10
(ShareCast News) - Kingfisher has booked total first quarter sales of £2.7bn, up 5.1% in reported terms and ahead 3.6% in like-for-like constant-currency terms. "We have made a solid start to the year, trading in line with expectations," said chief executive Véronique Laury. "I am pleased with the
Read moreTuesday broker round-up
24th May 2016 14:41
(ShareCast News) - Standard Chartered: Macquarie reiterates to outperform with a 440p target. Britvic: Goldman Sachs stays at buy with a 838p target. Premier Oil: JP Morgan keeps at neutral with a target price of 61p. RBS: Deutsche Bank reiterates hold with a target of 239p. BT: Macquarie reitera
Read moreKingfisher nails first quarter as Laury's repairs gain traction
24th May 2016 07:03
(ShareCast News) - DIY retailer Kingfisher put together a solid start to the year, with 6.2% like-for-like growth in B&Q and Screwfix stores in the UK and Ireland contributing to 3.6% group growth to £2.7bn. While LFL sales in France continued to show evidence of slow recovery, up 0.2% at constant c
Read moreGoldman Sachs to manage part of Kingfisher capital return
11th Apr 2016 07:46
(ShareCast News) - B&Q owner Kingfisher has engaged Goldman Sachs International to manage part of the capital return programme announced back in January. Goldman will buy up to £52m in Kingfisher shares for cancellation by 25 July. On 25 January, Kingfisher announced a five-year transformation prog
Read moreBroker tips: M&S, Kingfisher, ITE Group
4th Apr 2016 15:57
(ShareCast News) - Ahead of Marks & Spencer's results on Thursday, Berenberg reiterated its 'sell' recommendation and cut its earnings forecasts for the next three years due to the continuing decline in clothing sales. Thursday's fourth-quarter results for the three months to 31 March 2016, coming a
Read moreKingfisher's turnaround plan is not convincing, says Numis
4th Apr 2016 10:59
(ShareCast News) - Kingfisher has been given a 'reduce' rating by Numis after the company's recent full year results. Numis said it was yet to be convinced that the home improvement retailer's transformation plan will successfully address the group's low return on capital employed or develop new gro
Read moreKingfisher faces staff revolt as UK retailers eye living wage loopholes
30th Mar 2016 09:39
(ShareCast News) - Kingfisher is facing pressure from thousands of staff at its B&Q retail chain to bring back overtime pay and benefits it is cutting to ease the cost of the new minimum wage. A petition started by an unnamed B&Q store manager has collected more than 73,000 signatures, according to
Read moreFTSE 100 movers: Retail sales, oil prices drag on index
24th Mar 2016 15:24
(ShareCast News) - The FTSE 100 was trading down on Thursday afternoon as investors ended the week early for Good Friday, with poor UK retail sales and falling oil prices dragging the benchmark down. Kingfisher Group was among the top risers, after its stock had its 'buy' rating reaffirmed by equiti
Read moreBroker tips: Kingfisher, Mitie, gold stocks
24th Mar 2016 13:36
(ShareCast News) - Societe Generale upgraded B&Q owner Kingfisher to 'hold' from 'sell' and lifted the price target to 359p from 333p following the company's results on Wednesday. The bank said some early signs of recovery in the French home improvement market, together with a weaker reporting curre
Read moreSocGen upgrades Kingfisher after results
24th Mar 2016 09:05
(ShareCast News) - Societe Generale upgraded B&Q owner Kingfisher to 'hold' from 'sell' and lifted the price target to 359p from 333p following the company's results on Wednesday. The bank said some early signs of recovery in the French home improvement market, together with a weaker reporting curre
Read moreLondon pre-open: Stocks seen lower as investors continue to digest Brussels attacks
23rd Mar 2016 07:37
(ShareCast News) - London stocks were set to open lower on Tuesday following a mostly negative session in Asia as investors continue to digest the terror attacks in Brussels. The FTSE 100 is seen starting 25 points lower than Tuesday's close at 6,167. "While travel and hotel stocks took a bit of a
Read moreKingfisher FY profits rise slightly; cautious on France outlook
23rd Mar 2016 07:07
(ShareCast News) - Full year adjusted pre-tax profits at home improvement retailer Kingfisher rose 0.3% to £686m as revenues fell 2.6% to £10.3bn. Retail profit up was up 7.4% to £746m in constant currencies. "In the short term, the fundamentals of the UK economic backdrop remain positive, although
Read moreWednesday preview: Kingfisher reports full year results
22nd Mar 2016 13:10
(ShareCast News) - Home improvement retailer Kingfisher reports its full year results on Wednesday, with analysts pencilling in a 4% drop in pre-tax profit to £688m amid a restructuring. The owner of B&Q and Screwfix is preparing to face increased competition from Homebase following its sale by Home
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