Thomas Cook gets thumbs up for merger
16th Aug 2011 08:02
The Thomas Cook Group, the Co-operative Group and the Midlands Co-operative are to merge after the Competition Commission gave the go-ahead for the deal. The merger brings together two of the three largest travel agents on the UK high street. Thomas Cook currently has 780 stores, Co-op 360 and Mid
Read moreLondon close: Footsie bounces after morning sell-off
9th Aug 2011 16:45
Following another steep decline in early trading, the Footsie clawed its way back, surging nearly 400 points since the mid-morning to finish 1.89% higher. The blue chip index closed up 96 points. All eyes are on the Federal Reserve's monetary policy meeting, with markets eagerly waiting to hear of
Read moreThursday newspaper round-up: RBS, ECB, Next, OBR, Thomas Cook
4th Aug 2011 06:06
The Financial Times reports that RBS is to shed 2,000 investment banking jobs. John Hourican, head of RBS's global banking and markets division, said a smaller, more focused business would deliver more stable profits, according to the paper. The European Central Bank is expected to signal it is ste
Read moreLondon midday: Shares dive but Thomas Cook takes off
3rd Aug 2011 12:01
Stocks are deep in the red this morning as economic worries continue on both sides of the Atlantic. Despite yesterday's deal on the US deficit-cutting plan, analysts are concerned that the ratings agencies may be sharpening their knives, with weak economic figures contributing to fears the world's
Read moreThomas Cook's head honcho steps down
3rd Aug 2011 09:02
Struggling travel operator Thomas Cook said its chief executive officer Manny Fontenla-Novoa will step down effective immediately and appointed deputy head Sam Weihagen to temporarily take charge of the company. Thomas Cook did not divulge any details regarding the reason for his departure but the
Read moreLondon midday: Banks in front as rally continues
22nd Jul 2011 12:21
Stocks are going strong after this morning's gains, with banks prominent among the risers, continuing their advance following the eurozone deal yesterday. Barclays, RBS and Lloyds are posting good gains. However, today's standout stock is easyJet, with the budget airline up 15% after saying it exp
Read moreCommission gives nod to Thomas Cook merger
21st Jul 2011 07:19
Travel group Thomas Cook is in need of good news after a recent profits warning knocked the shares for six, so it was understandably pleased that the Competition Commission has provisionally waved through the merger of its travel agents business with the travel agent operations of The Co-Operative G
Read moreFTSE 250 movers: Rank boosted by broker recommendation
18th Jul 2011 14:27
Bingo hall and casino operator Rank Group was the top riser on the mid-cap stock index after brokerage firm Panmure Gordon reinstated its "buy" recommendation on the company, saying that it remains "a compelling investment proposition." On Monday, Rank announced that Guoco's offer closed with 74.5%
Read moreThomas Cook extends credit facility
18th Jul 2011 14:09
Travel operator Thomas Cook Group has agreed to extend its credit facilities for one year, with a reduced interest rate. Thomas Cook received a one-year extension of its committed bank facilities, which comprises of a £200m term loan and an £850m revolving credit facility, to May 2014. The interes
Read moreLondon close: Thomas Cook leads the decline
14th Jul 2011 16:47
Stocks closed firmly in the red on a day that saw stocks moving sharply in both directions after a raft of updates. Investors had a keen appetite for shares in Premier Foods. The Hovis bread and Sharwood ready-meals maker unveiled industry veteran Mike Clarke as its new head honcho. Clarke, current
Read moreSector movers: ARM again takes a hit
14th Jul 2011 16:06
It was another dreary day on the markets with red dominating the boards and hangovers remaining from poor news yesterday. The technology hardware and equipment sector was the worst performing sector for the second day in a row. Chipmaker ARM Holdings again took a hit. It is suffering from profit
Read moreLondon close: Footsie dampened by European debt fears
12th Jul 2011 16:31
The ongoing euro crisis weighed heavily on stock markets in Europe and the UK as investors continued to fret over sovereign debt contagion spreading to Italy, Europe's third largest economy. However, after a steep decline early on, things calmed down slightly after it was announced that Italy sold
Read moreFTSE 250 movers: Thomas Cook's profit warning disappoints
12th Jul 2011 15:47
The mid-cap stock index was rocked by Thomas Cook's profit warning. The travel operator lost more than a quarter of its market value after saying that its third quarter results will fall below expectations hurt by the unrest in the Arab countries and weak domestic demand. It was the worst performer
Read moreLondon midday: Thomas Cook shares fall further
12th Jul 2011 12:03
Stocks are heavily under pressure today amid growing concerns over the Eurozone crisis. Meanwhile travel group Thomas Cook's share price is taking a severe battering. Thomas Cook's shares are down by more than a quarter now after it said its third quarter results will miss expectations as the turmo
Read moreBroker tips: M&S/Debenhams, Thomas Cook, Croda
12th Jul 2011 11:34
Matrix has maintained its positive stance on high street retailers Marks & Spencer and Debenhams after the British Retail Consortium's (BRC) Retail Sales Monitor for June came in ahead of estimates. Like-for-like sales fell by 0.6%, while total sales grew by 1.5%. "This is better than expected, and
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