Reckitt shares slide up after K-Y acquisition March 10, 2014 RECKITT Benckiser, the consumer conglomerate behind Nurofen painkiller and Durex condoms, has expanded into lubricants after buying the global rights to K-Y from Johnson & Johnson yesterday. Shares in the firm defied a tumbling FTSE 100 yesterday to close up 0.3 per cent. Reckitt, which did not disclose the price of the deal, said K-Y [...]
London Report: Cheer for UK as real pay up and inflation falling April 14, 2014 BRITAIN’S economy is set to put the recession firmly behind this week with news of the first real wage growth in four years and falling unemployment. Inflation and unemployment data are expected to show wage growth in March beating inflation. Capital Economics’ Paul Hollingsworth said: “The latest earnings data should show that the squeeze on [...]
What the other papers say this morning – 01 April 2014 March 31, 2014 FINANCIAL TIMES US overseas cash pile rises to $947bn American companies have stockpiled nearly a trillion dollars of cash offshore to avoid paying higher tax bills at home, according to an analysis released yesterday. The growing overseas cash pile has also become the most visible sign of corporate America’s unwillingness to place bigger bets on [...]
PayPoint eyes growth as new chair named February 5, 2014 UK PAYMENTS service PayPoint, a fixture at many corner shops across London, yesterday announced the appointment of Warren Tucker as chairman of the company, succeeding David Newlands. The FTSE-250 listed group’s services include utility payments at over 25,000 corner stores, click and collect parcel delivery from online retailers to over 5,000 shops and the PaybyPhone [...]
Reckitt brings in drugs chairman February 12, 2014 CONSUMER goods giant Reckitt Benckiser has hired a chairman for its troubled pharmaceuticals arm and to help with its strategic review as the company posted a rise in fourth quarter sales. The company said yesterday it has brought in Howard Pien, a US-based pharmaceutical adviser, to chair its RBP unit, in what analysts said was [...]
London Report: FTSE pauses for breath as sharp rally peters out February 19, 2014 THE UK’S top shares steadied yesterday as analysts bet the strong rally that followed a slump in emerging markets has run out of steam, though Sports Direct gained on robust profits. The FTSE 100 closed up 0.28 points – flat in percentage terms – at 6,796.71 points. It hit 6,810.48, its highest since late January, [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
Best of the Brokers for 05 December 2013 December 4, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com RECKITT BENCKISER UBS has reversed its rating on the consumer goods group from “buy” to “sell” and cut its target to 4,550p from 5,210p. The broker thinks the company’s excess cash flow will be used for acquisitions and not paid out to investors. [...]
London Report: FTSE at highest close since May on good results October 22, 2013 THE FTSE 100 scaled five-month highs yesterday, supported by expectations the US Federal Reserve will not trim stimulus any time soon and by a crop of strong updates from the likes of Reckitt Benckiser. A disappointing US jobs report suggested that momentum in the world’s top economy had already started to slow in September. With [...]
Reckitt puts for sale sign over drugs business October 22, 2013 SHARES in Reckitt Benckiser surged more than five per cent yesterday after the consumer giant effectively put its pharmaceuticals arm up for sale, in a deal that could raise more than £2bn. The FTSE 100 group said yesterday it has launched a strategic review of its RBP unit, which is focused on the drug Suboxone, [...]