Whitbread posts strong sales growth
4th Mar 2010 07:04
Leisure group Whitbread has issued another upbeat trading statement, posting continuing double-digit sales growth at its coffee shop chain Costa and a move into like-for-like sales growth at its hotel chain Premier Inn. In the three months to February 18, sales at Costa climbed by 19.9% from the sa
Read moreThursday preview: Aviva, Whitbread, BoE rate decision
3rd Mar 2010 15:26
The blockbuster bid by Prudential for the Asian assets of fallen US insurance giant AIG has given insurance companies the sort of press coverage normally reserved for banks and has thrown down a challenge to the Pru's UK rival, Aviva, which declares full year figures on Thursday. Panmure Gordon is
Read moreWhitbread boss makes way for easyJet chief
3rd Mar 2010 14:07
"Will you still need me when I'm 64?" sang the Beatles in 1967. The answer from Premier Inn and Costa Coffee owner Whitbread to chief executive Alan Parker is "no". Parker will retire from the UK's largest hotel and restaurant group on 25 November, his 64th birthday, after six years at the helm. H
Read moreLondon close: Strong finish for FTSE 100
29th Jan 2010 16:38
Footsie gave up a recent weak spell to finish the week with good gains. Whitbread was the star performer. Following an investor day yesterday, Barclays Capital raised its price target on the Costa Coffee and Premier Inn owner to 1,700p from 1,600p. The broker thinks Whitbread will benefit from new
Read moreFTSE 100 movers: Banks and miners recover
29th Jan 2010 15:34
The FTSE 100 index is recovering today with banks and miners leading the way. Negative broker comment has not hampered the banks. FBR Capital Markets has been running its rule over UK banks and has cut its price target for HSBC from 893p a share to 800p a share "to reflect a similar level of conse
Read moreLondon close: Footsie at 15-month high
24th Dec 2009 12:28
Miners pushed London sharply higher in a shortened trading session Thursday, getting the leading index up to 5,400 briefly and to its highest close since September 2008. Silver producer Fresnillo is top of the table on stronger metal prices, with BHP Billiton, Vedanta Resources and Rio Tinto also h
Read moreLondon open: Markets move sideways ahead of early close
24th Dec 2009 08:36
London is winding down ahead of the Christmas break with Footsie trading sideways in very light activity. Dismal travelling conditions may have encouraged those going away for the break to leave early, especially as trading finishes at lunchtime today. News is also very thin. US private equity gro
Read moreLondon pre-open: Heading higher again
24th Dec 2009 07:33
London appears determined to enter the Christmas break in festive spirit, with the leading index seen higher at the start after Wall Street eventually shrugged off weak housing data. Futures prices indicate an early gain of about 15 points for the FTSE 100, although trading is expected to be very l
Read moreWhitbread in £37m sale & leaseback deal
24th Dec 2009 07:04
Whitbread has agreed a sale and leaseback deal with M&G Investments that will net the hotel, pub and coffee shop group £36.65m in cash. The agreement covers five properties operating as Premier Inn and adjacent restaurants and is expected to complete in January. The money will be handed over on co
Read moreMcKenna's Ingenious discount
17th Dec 2009 16:06
Non-executive director Patrick McKenna has taken advantage of a large discount to net asset value to snap up 12.6m shares in investment company Ingenious Media Active Capital. The total cost of the stake was £5.8m. He paid 46p a share compared with a net asset value of 65.6p a share at the end of
Read moreLondon close: Losses narrow
15th Dec 2009 16:33
Top shares fought back late afternoon to halve losses, but most financial issues stayed lower, while oil plays also ended friendless. Turmoil in the Greek banking sector since credit ratings agency Fitch downgraded the country's sovereign debt last week continued to hurt. Barclays and HSBC were am
Read moreLondon afternoon: Banks continue to weigh
15th Dec 2009 14:51
London is off its worst levels of the day, but remains deep in the red as finance plays suffer on fears about the strength of European peers. Barclays and HSBC are among the worst performers as Greek rivals slump on worries about their country's budget deficit. Reports, later denied, that Austria'
Read moreLondon midday: Footsie drifts back
15th Dec 2009 12:12
Footsie has drifted slightly lower as banks and miners join British Airways among the heaviest fallers. The airline is in focus amid expectations of a 12-day strike over Christmas. BA said it is mulling "all options" to cope with the planned action by cabin crew over the Christmas period. BA is
Read moreLondon open: Dull start as BA suffers
15th Dec 2009 09:02
London's top stocks have turned lower as investors take a breather following recent gains. British Airways has generated most headlines this morning. The embattled airline is drawing up contingency plans to cope if the planned 12-day strike by cabin crew goes ahead. An injunction is one option, but
Read moreLondon pre-open: Flat start ahead
15th Dec 2009 07:34
London's top stocks are expected to open largely flat as investors take a breather following the previous sessions gains. Costa Coffee owner Whitbread has offered to buy Eastern European coffee shop operator CoffeeHeaven for about £36m. The recommended offer of 24 pence in cash represents a premium
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