Whitbread makes £36m offer for CoffeeHeaven
15th Dec 2009 07:02
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 of around 25% to the closing price of 19.25 pence per CoffeeHeaven share on 11 June 2009, being the last business day pri
Read moreTuesday tips round-up: Whitbread, Great Portland, Mouchel
15th Dec 2009 06:56
Whitbread shares are not cheap, trading at a 2010 price-to-earnings ratio of 15.6, but some of its rivals' are more expensive. And Whitbread's decision to invest in its business during the downturn - while keeping a tight lid on costs - bodes well for the year ahead, as the UK slowly emerges out of
Read moreLondon close: Financials lift Footsie
14th Dec 2009 16:58
Footsie began the week with good gains as the day got off to a strong start following news that Abu Dhabi is to bail out its troubled fellow Emirate Dubai. Investors piled into LSE, Standard Chartered and HSBC as the threat of possible huge bad debts recedes. An upgrade by Credit Suisse, which hi
Read moreLondon afternoon: Footsie up over 1%
14th Dec 2009 14:52
The UK's leading shares are finding plenty of support after a strong start on Wall Street and the Dubai bail-out. Investors have piled into LSE, Standard Chartered and HSBC as the threat of possible huge bad debts recedes. An upgrade by Credit Suisse, which highlighted the low exposure to Dubai a
Read moreFTSE 100 movers: Dubai gives LSE a boost
14th Dec 2009 13:11
London Stock Exchange is the best performer today after Abu Dhabi guaranteed the debt position of Dubai World, one of the flagship companies of its neighbour Dubai. Borse Dubai, which is state run, owns a 20.56% stake in the LSE, and there had been fears it would have to sell its stake to raise mon
Read moreBroker tips: Cadbury, Whitbread, HMV
14th Dec 2009 12:22
Cadbury published its defence against Kraft's £10bn bid today, but with only limited near-term share price upside investors should be looking to 'reduce' holdings, says Charles Stanley. Dairy Milk and Crème Egg maker Cadbury has confirmed fourth quarter trading is in line with expectations, maintai
Read moreLondon midday: Dubai gives general boost
14th Dec 2009 12:11
London's bue chips are still posting healthy gains, helped by the decision of Abu Dhabi to bail-out Dubai, its financially embarrassed neighbour. LSE, Standard Chartered and Royal Bank of Scotland are up on the Dubai news, which should lift the cloud of possible huge bad debts hitting the sector.
Read moreBroker snap: Whitbread update impresses Panmure
14th Dec 2009 11:58
Panmure Gordon has lifted its target price on Whitbread to 1675p from 1470p after a bullish trading update from the hotel and coffee shop owner. Whitbread said it expects to deliver results ahead of the top end of market expectations after seeing a 6.7% rise in third quarter sales at Costa Coffee,
Read moreLondon open: Bright start as Dubai fears ease
14th Dec 2009 08:49
London's top stocks have opened more than 50 points higher with sentiment buoyed by the decision of Abu Dhabi to bail-out Dubai, its financially embarrassed neighbour. LSE, Standard Chartered and Royal Bank of Scotland are up on the Dubai news, which should lift the cloud of possible huge bad debts
Read moreLondon pre-open: Shares set to gain
14th Dec 2009 07:35
London's top stocks are expected to open around 50 points higher on a relatively busy Monday morning on the company news front. Dairy Milk and Crème Egg maker Cadbury today recommended shareholders reject the bid from processed foods maker Kraft Food, which it says substantially undervalues the com
Read moreWhitbread to beat forecasts as sales rally
14th Dec 2009 07:21
Hotel, pub and coffee shop group Whitbread expects results for the current year to 'somewhat exceed the top end of market estimates' as Costa Coffee led a rally in sales in the third quarter. Revenues moved forward again in the three months to end November, with total sales up 6.7% and like for lik
Read moreLondon close: Modest gains for FTSE 100
11th Dec 2009 16:55
Footsie finished the week with modest gains as miners rallied following strong economic data from China. Industrial production growth in China rose again in November to hit 19.1% year-on-year. It is fastest pace of growth in industrial production since June 2007. In UK economic news, factory ga
Read moreLondon afternoon: China data lifts miners
11th Dec 2009 14:30
Mining stocks are more than offsetting losses on banks, as metal prices pick up following some strong economic data from China. Industrial production growth in China rose again in November to hit 19.1% year-on-year. It is fastest pace of growth in industrial production since June 2007. In UK eco
Read moreWhitbread in talks to take over Coffeeheaven
11th Dec 2009 12:56
Eastern European coffee shop operator Coffeeheaven is in 'advance talks' about a possible offer from Costa Coffee group Whitbread, the two firms confirmed this morning. Both companies issued statements saying they are in talks over a 24p a share offer. An early report in the Daily Mail said specul
Read moreBroker tips: InterContinental Hotels, Bovis, TUI
11th Dec 2009 12:45
InterContinental Hotels has shrugged off a downgrade to 'hold' from 'buy' at Panmure Gordon, which thinks the shares are fully valued. The shares are trading very close to the broker's 910p price target following a strong performance in 2009, while Panmure adds that further consensus forecast upgra
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