Week Ahead: Next, Kingfisher, Ashmore
9th Sep 2011 13:51
Two stalwarts of the UK high street are reporting next week, namely fashion chain Next and DIY retailer Kingfisher. Charles Stanley is expecting Next to report a solid set of interim results, with profit before tax of £240m, up from £214m at the halfway stage last year. Earnings before interest, t
Read moreThursday newspaper round-up: RBS, ECB, Next, OBR, Thomas Cook
4th Aug 2011 06:06
The Financial Times reports that RBS is to shed 2,000 investment banking jobs. John Hourican, head of RBS's global banking and markets division, said a smaller, more focused business would deliver more stable profits, according to the paper. The European Central Bank is expected to signal it is ste
Read moreLondon midday: Shares dive but Thomas Cook takes off
3rd Aug 2011 12:01
Stocks are deep in the red this morning as economic worries continue on both sides of the Atlantic. Despite yesterday's deal on the US deficit-cutting plan, analysts are concerned that the ratings agencies may be sharpening their knives, with weak economic figures contributing to fears the world's
Read moreLondon open: Footsie plummets in early trading
3rd Aug 2011 08:31
The Footsie plummeted in early trading and stood firmly below the 5,700 level, losing more than 1.5%. Disappointing US economic data has more than offset relief that the US debt ceiling law has been passed, and is overshadowing a busy morning for company announcements. Meanwhile, renewed fears o
Read moreNext sales up 3.2% in first half
3rd Aug 2011 07:40
High street retailer Next saw total sales rise 3.2% in the first half of the year, as strong growth in Directory offset a moderate decline in Retail. The firm, which had previously expected an overall sales growth of between +1.5% and +4% in May, said that the sales figure is "comfortably within th
Read moreFTSE 100 movers: Chinese data fuels demand for miners
13th Jul 2011 14:09
A better-than expected rise in Chinese gross domestic product spurred a rally in metals prices, helping gains for the miners. Fresnillo, Randgold Resources and Kazakhmys were among the highest risers on Wednesday afternoon. Mining titan Xstrata was also in demand after taking full control of the P
Read moreLondon close: Footsie dampened by European debt fears
12th Jul 2011 16:31
The ongoing euro crisis weighed heavily on stock markets in Europe and the UK as investors continued to fret over sovereign debt contagion spreading to Italy, Europe's third largest economy. However, after a steep decline early on, things calmed down slightly after it was announced that Italy sold
Read moreFTSE 100 movers: ARM pulls blue chips lower
12th Jul 2011 16:04
Chip maker ARM was the biggest faller after figures from US peers Microchip Technology and Novellus came short of expectations. BSkyB was continuing its decline, a day after Rupert Murdoch withdrew his offer to spin-off Sky News in order to make his bid for the satellite broadcaster feasible. As s
Read moreFTSE 100 movers: BSkyB drops over takeover worries
8th Jul 2011 14:38
Satellite broadcaster BSkyB is unsurprisingly at the bottom of the pile. The recent turmoil at Rupert Murdoch's News International, which has closed down its Sunday tabloid the News of the World, has sparked fears concerning a delay, or worse, of its proposed takeover of the satellite broadcaster.
Read moreBroker tips: Next, Charter, Genus
4th Jul 2011 13:45
The decision by fashion retailer Next to stick to its knitting and get shot of its customer services operation, Venture, is a sensible one, in the eyes of Singer Capital Markets. "Call centre operations were never truly core, and the industry remains extremely competitive," the broker asserts. "M
Read moreBroker snap: Next disposal may be mildly dilutive
4th Jul 2011 13:33
The decision by fashion retailer Next to stick to its knitting and get shot of its customer services operation, Venture, is a sensible one, in the eyes of Singer Capital Markets. "Call centre operations were never truly core, and the industry remains extremely competitive," the broker asserts. "M
Read moreNext sells customer services unit to Capita
1st Jul 2011 14:38
Fashion retailer Next has sold its customer services operation Ventura to The Capita Group for £65m in cash and expects to use the majority of proceeds to repurchase its shares. Next, now expects to buy back shares worth £225m, up from its previous target of £160m. Ventura, the trading name of C
Read moreSector movers: Charter rockets, engineers higher
29th Jun 2011 15:35
The industrial engineering sector was making gains on Wednesday, as Charter International recovered from last week's sell-off. Engineering conglomerate Melrose has been in discussions with rival Charter about making a possible 780p-a-share offer for the company, it confirmed today. The offer valu
Read moreFTSE 100 movers: ICAP surges nearly 7%
29th Jun 2011 15:14
ICAP was the high riser of the day, gaining nearly 7% as of 15:18 on Wednesday afternoon. Shares in the world's largest interdealer broker were trading 31.4p higher at 467.9p, attempting to recover from its performance over the year to date. In mid-January, the share price was around the 560p level.
Read moreFTSE 100 movers: ENRC leads the decline
10th Jun 2011 13:54
Kazakhstan-focused miner Eurasian Natural Resources Corp is the heaviest faller on further speculation of a major boardroom shake-up, as a result of indifferences with minority shareholders. On Wednesday, the group initiated a "comprehensive review of its corporate governance" which saw four board
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