London open: Sweet FA deal batters Sky and BT
14th Jun 2012 08:45
You would have thought that the market had become used to sovereign debt downgrades by now, but the decision by Moody's to take Spain's rating down three notches to a level adjacent to 'junk' status has ratcheted up tension ahead of Italy's debt auction this morning. Italy is set to auction €4.75bn
Read moreMulberry shares plunge
14th Jun 2012 07:12
Shares of UK luxury fashion chain Mulberry sank 22 per cent after annual pre-tax profit and revenue fell short of expectations. Somerset-based Mulberry, which makes upmarket handbags and leather accessories, said pre-tax profit rose to £36m for the year ended 31 March 2012 compared to £23.3m a year
Read moreThursday broker round-up - UPDATE
19th Jan 2012 09:52
Tesco: Goldman Sachs downgrades to neutral from buy. Morrison: Goldman reiterates sell. Sainsbury: Goldman downgrades to sell from neutral. Tobacco (sector): Nomura downgrades sector view from bullish to neutral. Tesco: AlphaValue downgrades to add from buy, raises target to 402.90p from 401.4
Read moreMulberry lifts FY forecasts after stellar Christmas
19th Jan 2012 07:20
Global demand for Mulberry's upmarket handbags and leather accessories continued to defy the economic gloom as it announced full year results are now likely to beat earlier expectations after robust demand over Christmas. Mulberry, which has 86 stores and concessions worldwide, saw strong growth in
Read moreBroker tips: CRH, Mulberry, Thorntons
21st Dec 2011 12:59
Charles Stanley has initiated its coverage on newly-listed building materials group CRH with a hold recommendation after it joined the FTSE 100 earlier this month. "On valuation the shares are probably cheap on a long term view and should have yield support but, given the economic outlook and the c
Read moreBroker snap: Mulberry's gearing up for global growth, says Panmure
21st Dec 2011 12:50
Panmure Gordon has reiterated its buy recommendation on luxury fashion brand Mulberry, saying that today's appointment of a new Chief Executive "makes perfect sense to us". The firm said today that Bruno Guillon, currently the Managing Director of Hermes France, will become the new Chief Executive
Read moreWednesday broker round-up - UDPATE
21st Dec 2011 08:51
HSBC: Investec reiterates buy with 800p target. Barclays: Investec reiterates buy with 330p target. Tesco: Nomura maintains buy rating and 500p target. AstraZeneca: Nomura keeps reduce recommendation and 2,400p target. Thorntons: Investec puts 35p target under review, hold rating kept; Merchant
Read moreMulberry names Bruno chief executive
21st Dec 2011 07:13
Luxury fashion brand Mulberry has appointed Bruno Guillon, 46, as chief executive, with effect from 1 March 2012. Current chief executive and chairman Godfrey Davis will continue as non-executive chairman after a three-month handover to ensure a smooth transition, Mulberry said. Guillon joins Mu
Read moreThursday broker round-up - UPDATE
8th Dec 2011 08:45
Tesco: Nomura keeps buy rating and 500p target. Tesco: Evolution Securities keeps reduce stance and 350p target. Tesco: Panmure Gordon keeps buy rating and 500p target. Standard Chartered: Nomura maintains buy recommendation and 1,800p target. PZ Cussons: Panmure Gordon cuts target from 380p to
Read moreMulberry profit hits the roof
8th Dec 2011 07:14
Aim listed luxury fashion brand Mulberry revealed a 62% increase in half year revenue as international demand for its leather goods continues to flout the economic gloom. The group, famous for its women's bags and accessories, said pre-tax profit soared to £15.6m for the six months ended 30 Septemb
Read moreThursday preview: ECB, BoE, Mulberry, Ashtead
7th Dec 2011 15:15
In focus on Thursday will be the interest rate decisions from both the European Central Bank (ECB) and the Bank of England (BoE). With the BoE expected to freeze rates at 0.5% and leave its stimulus plans unchanged, an announcement by the ECB will likely take centre-stage given the severity of the c
Read moreMulberry extends Asian distribution deal
4th Oct 2011 08:17
Upmarket fashion group Mulberry has extended an existing distribution agreement with Club 21, its major distribution partner in Asia Pacific. Mulberry, famous for its handbags, has extended its distribution deal by six years until 2021, and expanded it to include Australia and Vietnam. Mulberry s
Read moreLondon midday: Greek worries hit stocks
16th Jun 2011 12:16
Stocks are firmly under the cosh still as worries over the situation in Greece continue. Greek prime minister George Papandreou is to seek a vote of confidence in the Greek parliament today, as talks about a much needed rescue package from the EU continue to drag on. Despite all the worries though
Read moreBroker tips: Mulberry, Micro Focus, Filtrona
16th Jun 2011 11:44
Merchant Securities has hailed Mulberry's preliminary results as a "very strong performance" and placed its numbers and ratings under review. While the broker notes that the stock is not cheap, trading on a forward 2012 price-earnings multiple of 40, "given the excellent performance, bullish outlo
Read moreBroker snap: Mulberry has long-term potential, says Merchant Securities
16th Jun 2011 10:11
Merchant Securities has hailed Mulberry's preliminary results as a "very strong performance" and placed its numbers and ratings under review. The upmarket fashion group reported revenue growth of 69%, driven by strong UK and export sales. Adjusted pre-tax profit was up 285% and adjusted diluted ear
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