London afternoon: Stuck in consolidation mode
28th Oct 2010 14:53
After going into a slump just ahead of midday, Footsie picked up over the lunch time session, helped by expectations of a firm start on Wall Street. The Anglo-Dutch oil giant Royal Dutch Shell grew earnings by 18% in the third quarter compared with a year ago, while the underlying figure rocketed
Read moreLondon midday: Good morning for blue chips
28th Oct 2010 12:06
London has enjoyed a strong morning with gains widespread following Shell's reassuring figures. The Anglo-Dutch grew earnings by 18% in the third quarter compared with a year ago, while the underlyng figure rocketed 88% to $4.93bn, well ahead of market forecasts. Earnings, on a current cost of sup
Read moreFriday newspaper round-up: HSBC chief to stand down
24th Sep 2010 06:24
Michael Geoghegan is to step down as chief executive of HSBC at the end of the year, according to two people close to the bank's board. He will be replaced by Stuart Gulliver, head of the group's investment bank, the FT reports. At the same time, Douglas Flint will take over as chairman from Stephe
Read moreBroker tips: Next, Gable, System C
16th Sep 2010 13:32
It's been a busy morning for retailers and Nomura Securities is sticking with the programme with an appreciation of recent results from fashion retailer Next. "Next first-half results had it all for the bulls. Confidence in product, a pipeline of profitable/high return on invested capital space, ac
Read moreBroker snap: Next is a keeper, says Nomura
16th Sep 2010 12:33
It's been a busy morning for retailers and Nomura Securities is sticking with the programme with an appreciation of recent results from fashion retailer Next. "Next first-half results had it all for the bulls. Confidence in product, a pipeline of profitable/high return on invested capital space, ac
Read moreSector movers: Retailers rise as Next impresses
15th Sep 2010 15:24
Next is giving the retail sector a lift after results. The fashion retailer did pretty much as expected in the six months to July given that its last update was only a month ago, but the market is impressed nonetheless. Fellow fashion chain Marks & Spencer is up in sympathy. Kingfisher, the company
Read moreLondon afternoon: Retailers provide some cheer
15th Sep 2010 14:29
Resource stocks remain a weight around Footsie's neck and have been joined over the lunch time session by banks, which are lower as the market ponders the implications of the Basel III banking guidelines. BP is lower in line with weaker oil prices, with the oil giant suffering more than its peers
Read moreBroker tips: Next, French Connection, Horizonte
15th Sep 2010 13:35
The market has reacted favourably to the trading update from Next but KBC Peel Hunt sees no rush to buy more of the shares if you already hold them. "Once again, Next has delivered double-digit profit growth from margin and overhead control, benefiting from a strong sales gain at Directory. While t
Read moreBroker snap: No rush to buy more Next shares
15th Sep 2010 13:33
The market has reacted favourably to the trading update from Next but with the share price homing in on KBC Peel Hunt's target price of 2300p the broker is sticking with its 'hold' recommendation, though it does rate the stock as its favourite general retailer among FTSE 100 constituents. "Once aga
Read moreFTSE 100 movers: Next drags up retailers
15th Sep 2010 13:01
Clothing retailer Next is leading other retailers higher as it shrugs off worries about rising cotton prices. Kingfisher, ahead of tommorrow's figures, and Marks & Spencer are both up on the day. Next's pre-tax profit increased 15% to £213.3m on revenue up 5% to £1.59bn. Like for like sales fel
Read moreLondon midday: Footsie hobbled by resource stocks
15th Sep 2010 11:58
Resource stocks are dragging London lower despite a good showing by retailers. Lower commodity prices are largely responsible for the sell off of commodity stocks, though legal battles also hover over a couple of stocks. BP is lower in line with weaker oil prices, with the oil giant suffering more
Read moreLondon open: Gentle upward progress
15th Sep 2010 09:00
London has made modest progress in early dealings with Next providing a fillip to retailers after half year results. Over here, Next did pretty much as expected in the six months to July given that the clothes retailer's last update was only a month ago, but the high street remains a "testing" plac
Read moreLondon pre-open: Prepare for small loss
15th Sep 2010 07:39
London is seen starting down 5 points at the start of play following last night's late dip on Wall Street. The Dow Jones ended Tuesday's session down 17 points despite better than expected retail sales data. Over here, Next did pretty much as expected in the six months to July given that the cloth
Read moreNext hikes profit in 'testing' conditions
15th Sep 2010 07:07
Next did pretty much as expected in the six months to July given that the clothes retailer's last update was only a month ago, but the high street remains a "testing" place and higher cotton prices could crimp demand. Profit before tax increased 15% to £213.3m from £185.5m a year ago on revenue up
Read moreWednesday preview: Next, UK unemployment
14th Sep 2010 17:44
Fashion retailer Next brings out interim figures on Wednesday, barely a month after it issued a pre-closing trading update in which it said it had noticed a "cooling" in consumer demand in recent months. Sales rose by 3.1% in the half year to end July, with catalogue and online sales strong and a d
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