London pre-open: Profit takers hold sway
9th May 2011 07:39
After Friday afternoon's surge on the back of better than expected US jobless data investors looks set to be quick to bank profits at the start of the new week. City traders expect London's blue-chip index to open almost 30 points lower at around 5,947. Energy supplier Centrica expects profits grow
Read moreGuoco offer 'undervalues' Rank
9th May 2011 07:26
Casino and bingo hall operator Rank has advised its shareholders against accepting a 150p a share offer for the company, saying it "significantly undervalues Rank and its prospects." Malaysian investment firm Guoco on Friday announced, after the close of trading, that it bought an 11.6% stake in Ra
Read moreMonday newspaper round-up: Greece, Barclays, GDP
9th May 2011 06:26
The Chancellor has ruled out British participation in a further bailout of Greece as the eurozone grapples with the country's debt crisis. George Osborne said yesterday that the UK had been a "reluctant partner" in Portugal's rescue and would not be writing further cheques for the Greeks. His commen
Read moreRank upbeat as the punters flock in
14th Apr 2011 08:18
Casino and online betting operator Rank said it made a positive start to the year as customers and customer visits rose strongly. Rank, which operates Mecca Bingo chain the second largest in Britain, said revenue from its Mecca bingo halls increased 4% in the 15 weeks to 10 April 2011 as visitors s
Read moreThursday preview: Rank, Debenhams, Dunelm
13th Apr 2011 16:39
Casino and online betting operator Rank issues a trading statement on Thursday in which it might give more detail on its recent victory over Her Majesty's Revenue & Customs (HMRC). HMRC is appealing against the decision, which saw the bingo hall operator get a rebate totalling £74.8m, covering ove
Read moreWeek Ahead: Punch, Michael Page, Rank
8th Apr 2011 11:32
Embattled pubs group Punch Taverns serves up its interim results on Monday, barely more than a fortnight after it unveiled its plans to split itself into two separate entities: the managed pubs arm (Spirit) and the tenanted estate (Punch). Reaction to the decision has been mixed. Initially the shar
Read moreFTSE 250 movers: Ferrexpo heads the risers
23rd Mar 2011 17:30
Ukrainian iron ore pellet producer Ferrexpo was the best performed after it doubled revenue in 2010 as production hit a record, taking full advantage of strong demand and high prices. Heading the other way was Punch Taverns, after the decision to split itself in two yesterday. Oil explorer Soco I
Read moreBroker tips: Sainsbury, Pace, Rank
23rd Mar 2011 12:54
Financial services firm Matrix expressed disappointment over Sainsbury's weak trading statement, as the supermarket giant grew like for like (LfL) sales by less than expected during the fourth quarter. Sainsbury revealed slowing fourth quarter sales in the 10 weeks to 19 March, with an increase of
Read moreBroker snap: Rank on big winning streak
23rd Mar 2011 12:03
After years of being on the wrong side of legislation, casino and bingo hall operator Rank is on a big winning streak, according to Peel Hunt, after the company won its largest value added tax (VAT) claim to date. Rank announced on Tuesday that it won yet another VAT claim against HM Revenue & Cust
Read moreLondon close: Carnival sinks
22nd Mar 2011 16:57
A confident start was derailed by worse than expected inflation figures and a rally in the final hour of trading only brought out profit takers right at the death, leaving Footsie in the red. UK annual inflation rose faster than predicted in February, as surging utility bills drove up living costs.
Read moreFTSE 250 movers: Rank bucks the trend
22nd Mar 2011 15:53
Casino and bingo hall operator Rank Group is bucking the downward trend Tuesday following the receipt of £74.8m it overpaid on its bingo revenues, with more to come in interest payments. Previous guidance had estimated the repayment would be £65m plus interest. Car seller Inchcape is the worst perf
Read moreRank's £74.8m bingo win
22nd Mar 2011 15:18
Rank Group has had a bumper bingo win today following the receipt of £74.8m it overpaid on its bingo revenues, with more to come in interest payments. At the time of its 2010 results announcement Rank estimated the repayment would be £65m plus interest. The repayment from Her Majesty's Revenue a
Read moreBroker tips: Gaming, Man Group, Northgate
21st Mar 2011 12:58
Peel Hunt does not expect any significant changes to gaming taxation from this week's Budget, but notes that the chancellor may throw down a marker that could have significant implications for parts of the gaming industry in the long term. The previous government gave gaming companies the option of
Read moreBroker snap: New taxes could affect gaming industry
21st Mar 2011 10:32
Peel Hunt does not expect any significant changes to gaming taxation from this week's Budget, but notes that the chancellor may throw down a marker that could have significant implications for parts of the gaming industry in the long term. The previous government gave gaming companies the option of
Read moreLondon close: FTSE 100 back above 6,000 as oil retreats
25th Feb 2011 16:47
Shares surged past 6,000 heading into the weekend as a Saudi pledge to pump more oil if needed reassured markets following the turmoil in Libya. The London Stock Exchange, which recently switched over to a new computer system, suffered an embarrassing glitch which resulted in the exchange shutting
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