Punch names chairman-designate for Spirit
12th Apr 2011 08:01
Walker Boyd, non-executive chairman of newsagent chain WH Smith, is in line for the same job at Spirit, the managed pubs arm of Punch Taverns that is to be spun off from the heavily indebted pubs group. The 58-year old Boyd will join the Punch board with immediate effect as a non-executive director
Read moreFriday newspaper round-up: HSBC, BP, Lib Dems on banks
8th Apr 2011 06:03
The US Department of Justice has asked a federal judge to force HSBC to reveal the names of thousands of the bank's wealthy clients who are suspected of tax evasion in the US. The request is the strongest sign yet that US authorities have broadened their scrutiny of potential tax dodgers beyond the
Read moreBroker tips: Aviva, WH Smith, WPP
4th Mar 2011 13:02
Nomura continues to believe that insurance giant Aviva offers investors good growth prospects at an attractive price after an impressive 2010. The insurance group's cost reduction and focus on higher-margin product selection were the main drivers of a 26% increase in operating earnings. However,
Read moreBroker snap: WH Smith to outperform peers
4th Mar 2011 10:32
The defensive nature of WH Smith's business should play well in 2011, with its reliance on small ticket items seeing the company less likely to be hit by any slowdown in consumer spending, according to UBS. The broker expects the newsagent to perform well relative to the retail sector over the next
Read moreSwann raises £1.6m from WH Smith sale
17th Feb 2011 16:42
Kate Swann, the boss of WH Smith has raised more than £1.6m from selling shares in the retailer. Swann sold shares in November and the latest sale means that she has raised nearly £3m in three months. On 16 February, Swann sold 345,846 shares at 476.09p each. That raised £1.65m. In November, the
Read moreFTSE 250 movers: Beazley on top
8th Feb 2011 16:12
Topping the risers lift is specialist insurer and reinsurer Beazley after pumping up profit by 59% in 2010. Also on the rise is Finnish miner Talvivaara after it signed an agreement with uranium producer Cameco Corporation for the off-take of uranium obtained as a by-product at Talvivaara's mine a
Read moreWH Smith acquisition should enhance earnings
8th Feb 2011 08:19
Newsagent WH Smith has paid £1.05m to acquire 22 stores and intellectual property from the administrators of south of England-focused British Bookshops and Stationers Limited. British Bookshops and Stationers (BBS) is a retail chain, currently in administration, retailing front list books, statione
Read moreThursday tips round-up: Renishaw, RSA, Cookson
27th Jan 2011 06:31
Niche engineer Renishaw's halfway statement to January 26 yesterday was full of superlatives. First-half revenues were 26% higher than their previous high point and pre-tax profits were 132% higher. Numis Securities calculates £72.2m in profits this year against less than £30m last time, which puts
Read moreLondon close: Company updates drive FTSE 100 higher
26th Jan 2011 16:47
Shares closed with decent gains though off their earlier highs, as well-received company updates helped drive the FTSE 100 forward in line with other markets. BG Group was strong after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in
Read moreLondon afternoon: Stocks stay strong
26th Jan 2011 15:41
Shares have maintained their earlier buoyancy after a decent start on Wall Street. Company updates have been well-received here. BG Group is going strong after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in a water depth of 2,151m,
Read moreBroker tips: Heritage Oil, Afren, WH Smith
26th Jan 2011 12:57
Financial services firm Matrix has placed Heritage Oil's rating 'under review' after test results from the Miran West-2 well discovered large quantities of gas, but no oil. Even though Heritage uncovered the largest gas field to be discovered in Iraq for more than 30 years, "we think this is a disa
Read moreLondon midday: FTSE 100 back above 6,000
26th Jan 2011 12:18
The top share index has moved past the 6,000 point mark again as company updates impress the market. BG Group is going strong after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in a water depth of 2,151m, approximately 275km off the
Read moreBroker snap: WH Smith sales decline, margins improve
26th Jan 2011 11:14
Trading over the Christmas period at newsagent WH Smith was somewhat weaker than Peel Hunt had been expecting, even after taking into account the effects of snow, which were in keeping with the sort of disruption experienced by the rest of the retail sector. In the 21 weeks to 22 January, the news
Read moreLondon open: Bright start for blue chips
26th Jan 2011 08:52
London has made good ground this morning after a late rally on Wall Street sparked by a stronger than expected US consumer confidence report. BG Group is the best performer after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in a wate
Read moreWH Smith profits on target
26th Jan 2011 07:38
Newsagent WH Smith's high street stores were hit by tough trading conditions and the winter freeze, but profits met forecasts and gross margin is ahead of plan. In what the newspaper, books and stationery retailer called a "resilient" performance, total sales for the 21 weeks to 22 January fell 4%
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