MPC minutes to be released as Tesco is set for annual report – London Report April 19, 2015 THE BANK of England’s monetary policy committee (MPC) will publish the minutes of its last rate setting meeting on Wednesday. The notes are expected to reveal officials’ thoughts on the strength of sterling and whether low inflation expectations will feed into the April wage negotiations. Traders will also be keeping a close eye on the [...]
Best of the Brokers for 05 March 2015 March 4, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com KELLER Numis has downgraded engineering group Keller from a “buy” to an “add” following a strong share price performances. Analyst Christen Hjorth said: “Keller has reported full-year results in line with expectations and the group’s strong order book indicates that 2015 will be [...]
Travis Perkins profits jump as tradesmen pick up their tools July 30, 2014 BUILDERS’ Merchant Travis Perkins posted a jump in first half profits on the back of improving market conditions and increasing customer confidence. The owner of Wickes, City Plumbing and Tile Giant said pre-tax profits rose by 19.4 per cent in the six months 30 June to £162.5m and increased its interim dividend by 22.5 per [...]
Tesco turmoil proves toxic for the FTSE 100 – London Report April 22, 2015 TESCO’S massive loss dragged the FTSE 100 down yesterday. It was also hampered by heavy declines in banking stocks. Shares in Tesco closed down 5.2 per cent, at the bottom of the FTSE 100, after the UK’s biggest retailer plunged to an annual loss of £6.4bn and failed to provide details about the planned disposal [...]
GDP and consumer confidence rises reflect UK growth – London Report February 22, 2015 GDP growth is this week likely to be confirmed at 0.5 per cent quarter-on-quarter for the final three months of 2014. That growth is likely to be reflected further on Friday with consumer confidence for February at a 12-year high. The corporate week starts today with reports from Associated British Foods, Bovis Homes, HSBC and [...]
Housing data shows lending and price rises – London Report March 1, 2015 HOUSING data due this week is likely to show increases in both prices and the number of mortgages being taken out. Bank of England mortgage approval figures, out today, are forecast to show that the number of housing loans rose modestly for a second month running in January after falling for five successive months to [...]
How much is Uber worth? As much as $70bn with another investment round- here’s how it compares October 25, 2015 Uber may already be the most valuable startup in the world, but that doesn't mean it's any less interested in keeping the pedal to the metal when it comes to landing investment. The ambitious taxi-hailing app is facing some serious threats from regulatory crackdowns in London and elsewhere as well as rivals, especially in huge [...]
Housing recovery boosts profit at builders merchant Travis Perkins February 26, 2014 TRAVIS Perkins enjoyed a 12.4 per cent rise in profits last year as the recovery in the housing market helped boost building activity in the UK. Adjusted profit before tax rose to £321m for the year to 31 December while earnings per share were up 14.3 per cent to 103.6p, ahead of analysts forecasts. Revenue [...]
Travis Perkins profits jump as Help to Buy boosts confidence February 26, 2014 Building merchant Travis Perkins has reported a rise in profits before tax of 12 per cent to £321m for the year ended 31 December. Revenue climbed to over £5bn, with annual growth of five per cent on a like-for-like basis. The company partly attributed the rising confidence in the building industry to the government's controversial [...]
City Moves for 08 December 2014 | Who’s switching jobs December 7, 2014 BNP Paribas Real Estate James Max has been appointed UK board adviser to the property advisory firm. He joined in January 2014 as a senior advisory director. Max is a media personality and has also held roles at DTZ, Morgan Stanley, and Doughty Hanson. Addleshaw Goddard The law firm has announced the appointment of Katie [...]