London open: Miners drive FTSE 100 near 6,000
30th Mar 2011 08:37
Miners are driving the top share index closer to 6,000 points, though the retail sector is under pressure following a profit warning from Dixons Retail. Vedanta, BHP Billiton, Antofagasta and Kazakhmys are among the big names in the mining sector posting gains. Elsewhere in the FTSE 100, oil compa
Read moreSector movers: GKN lifts auto stocks
25th Mar 2011 15:42
The automobiles and parts sector the best performer today on the back of strong gains from blue chip aerospace and vehicles engineer GKN. The group is higher after announcing yesterday that it will wave goodbye to longstanding chief executive Sir Kevin Smith at the end of 2011. His place at the he
Read moreLondon close: Strong gains in stores
24th Mar 2011 16:32
Footsie had a good day as investors mulled yesterday's Budget and decided overall it was good news for the stock market. Retailers were strong all day as investors focused on the numbers from Next and Kingfisher rather than some cautious comments over the retail sector over the rest of the year.
Read moreFTSE 100 movers: Retailers dominate risers
24th Mar 2011 15:25
Retailers dominate the best performers on the day. Kingfisher, the owner of do-it-yourself retailer B&Q, built profits by 19% last year, pretty much in line with market expectations. The company made £671m in the year ended 29 January 2011 and the increase was 22.5% when adjusted for one-off ite
Read moreSector movers: Next and Kingfisher boost retail stocks
24th Mar 2011 15:08
It's a strong day for retail stocks, sending the 'general retailers' sector to the top of the pile, with impressive gains from blue chips Next and Kingfisher. Next today paraded a 9% rise in full-year profit to a new record, exactly what the City was expecting following guidance from the fashion re
Read moreLondon afternoon: Market consolidates gains
24th Mar 2011 14:24
Footsie has maintained most of its gains from the morning but there are signs that it is running out of steam even though Wall Street opened in positive territory. Wall Street has been heading lower since the start and it is only just still in positive territory. The two large earthquakes in Bu
Read moreBroker tips: Next, easyJet, Lloyds Banking
24th Mar 2011 13:01
Next has revealed a strong set of results with inflation views moderating in the near-term, but Peel Hunt keeps its cautious stance on the retailer as its outlook suggest flat profits in the current year. Pre-tax profit for the 12 months ended January 2011 was up 9% at £551m, slightly above the bro
Read moreLondon 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 moreBroker snap: Forecasts downgraded at Next
24th Mar 2011 12:16
Next has revealed a strong set of results with inflation views moderating in the near-term, but Peel Hunt keeps its cautious stance on the retailer as its outlook suggest flat profits in the current year. Pre-tax profit for the 12 months ended January 2011 was up 9% at £551m, slightly above the bro
Read moreInflation takes toll on shoppers
24th Mar 2011 11:00
Higher prices are taking a toll on the UK's shoppers with sales volumes last month slowing sharply from January. Sales volumes rose by 1.3% on an annual basis in February, down by 0.8% on the previous month, though in value terms sales jumped by 5%, down just 0.1% on January. The difference reflec
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 moreLondon pre-open: Steady start expected
24th Mar 2011 07:36
London is expected to open little changed despite a strong finish on Wall Street yesterday. Next paraded a 9% rise in full-year profit to a new record, exactly what the City was expecting following guidance from the fashion retailer in January. Profit before tax increased to £551.4m in the 12 month
Read moreNext profits at top end
24th Mar 2011 06:59
Next today paraded a 9% rise in full-year profit to a new record, exactly what the City was expecting following guidance from the fashion retailer in January. Profit before tax increased to £551.4m in the 12 months to January, up from £505.3m a year ago, led by catalogue arm Next Directory where pr
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 moreLondon afternoon: Housebuilders get Budget boost
23rd Mar 2011 15:00
It would appear that the UK Budget was far from a blockbuster as the market has reacted phlegmatically to the Chancellor's big day. The headline grabbing move was the commitment to effectively abolish National Insurance and push up income tax to compensate, but this will not take effect for some t
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