London open: Stocks edge higher ahead of rate decisions
6th Dec 2012 08:26
Stocks started Thursday's session with moderate gains on the back of hopes that US politicians are nearing an agreement on the 'fiscal cliff', as markets looked ahead to policy announcements in both the UK and Europe. "European headline shares opened vigilantly today as a raft of economic data due
Read morePremier Foods to cut 900 jobs with Bread overhaul
20th Nov 2012 10:29
The UK's largest food producer, Premier Foods, is set to get a little smaller after announcing on Tuesday that it is to close two bakeries in the UK next year, leading to the loss of around 900 jobs. The company has proposed closing two bakery sites in Greenford and Birmingham over the course of ne
Read moreBroker tips: BP, StanChart, Premier Foods
30th Oct 2012 11:32
Investec has reiterated its bullish stance on oil giant BP, saying that the company's third-quarter results were 'much strong than we and the market anticipated'. The broker said: "Overall, we have seen a much better result than the poor Q2 and the company has moved early on a dividend increase to
Read moreBroker snap: More disposals possible at Premier Foods
30th Oct 2012 11:29
Panmure Gordon says that the recent disposals at Premier Foods do not rule out further divestments in the future. The food manufacturer announced on Tuesday that it had solid its sweet pickle and table sauces business, which includes the Branston pickle brand, to the Mizkan group for £92.5m. "This
Read morePremier Foods sells Branston pickles
30th Oct 2012 08:52
Debt-laden food manufacturer Premier Foods announced the conditional sale of its sweet pickles and table sauces business to Japanese firm Mizkan Group for 92.5m pounds. The deal, which is subject to approval by Premier Foods' shareholders and consent from its banking syndicate, should be completed
Read moreTuesday broker round-up - UPDATE
30th Oct 2012 08:23
African Barrick Gold: Nomura cuts target from 605p to 525p, buy rating kept. Aggreko: Seymour Pierce keeps buy rating and 2,500p target. Aquarius Platinum: Seymour Pierce keeps reduce rating and 34p target. ARM Holdings: Jefferies raises target from 485p to 693p, hold rating kept. ASOS: HSBC hik
Read morePremier Foods completes spreads/jellies disposal to Hain Celestial
29th Oct 2012 14:35
Premier Foods, the UK's largest food producer behind brands such as Hovis bread, Bisto gravy and Ambrosia custard and rice pudding, has completed the disposal of its Sweet Spreads and Jellies Business to US peer Hain Celestial. Hain Celestial, which prides itself for its 'natural food' brands such
Read moreWednesday tips round-up: Experian, Premier Foods
24th Oct 2012 07:47
The Tempus column in The Times writes that Experian has wasted no time in snapping up the minority interest in Serasa, the Brazilian credit bureau that it first bought into in 2007. This is despite signs that the Brazilian economy is flagging, not least because global economic uncertainty is hitting
Read moreTuesday broker round-up
23rd Oct 2012 09:23
Aggreko: UBS cuts target from 2,750p to 2,550p, buy rating kept. ARM Holdings: Investec keeps buy rating and 800p target. Avacta: Panmure Gordon keeps buy rating and 1.75p target. AZ Electronic: Canaccord Genuity ups target from 360p to 376p, buy rating kept. Babcock: JPMorgan Cazenove ups targe
Read morePremier Foods sales rise after brand clean up
23rd Oct 2012 07:17
Debt-laden food manufacturer Premier Foods said it maintained sales growth in the third quarter, as full year expectations remain unchanged. The St Albans-based firm, which disposed of its vinegar, pickles and jam businesses earlier this year, said sales rose two per cent in the quarter as it made
Read morePremier Foods will add COO to the mix
3rd Oct 2012 07:30
Premier Foods has appointed a Chief Operating Officer to help accelerate its transformation from a stodgy, overweight and indebted company to something leaner and more attractive to investors. Geoff Eaton is filling this newly created role and will report directly to Michael Clarke, Chief Executive
Read morePremier Foods gets out of jam
23rd Aug 2012 11:09
Debt-laden Premier Foods has already got itself out of a pickle this year, now it is getting itself out of a jam with the sale of its sweet spreads and jellies business. The brands being sold include Hartley's, Robertson's, Frank Cooper, Keiller, Gales and Sun-Pat. US firm Hain Celestial Group is p
Read moreSunday newspaper round-up: StanChart, Food prices, Aviva
12th Aug 2012 17:01
Standard Chartered has embarked on a last-ditch push to secure a settlement with American prosecutors over money laundering allegations ahead of a crunch meeting on Wednesday. The British bank was last week accused by a New York state regulator of illegally processing $250bn (£160bn) of payments for
Read moreWednesday broker round-up
8th Aug 2012 09:57
AstraZeneca: Jefferies raises target from 2,975p to 3,100p, hold rating kept. Avon Rubber: Investec reiterates hold rating and 315p target. BTG: Jefferies maintains hold rating and 410p target. Cobham: Jefferies reiterates buy recommendation and 230p target; Investec keeps sell rating and 200p ta
Read morePremier Foods expects to deliver cost savings a whole year early
7th Aug 2012 16:03
It was good news for Premier Foods investors on Tuesday, when the company announced it now expects to hits its cost saving target a year early. The group has set out to reduce its annual cost base by £40m and so so by the end of this year rather than the end of 2013 will, as Panmure points out, he
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