Late rally sees FTSE 100 hit a five-year high February 13, 2013 THE FTSE 100 staged a late rally yesterday when shorts got squeezed by the continued resilience of the market on the back of rising investor confidence. Britain’s top share index closed up 20.73 points, or 0.3 per cent, at 6,359.11, and touched an intraday high of 6,384.70 – its highest in five years. The index, [...]
Barclays leads FTSE to top day of month so far February 12, 2013 ASURGE in Barclays’ shares led the FTSE 100 past the psychologically important 6,300 level yesterday, as the blue chip bank’s planned overhaul raised hopes for the troubled sector’s revival. Barclays gained 8.4 per cent, leading FTSE 100 gainers and adding over 12 points to the index alone, after unveiling plans to slash annual costs by [...]
Reckitt close to Schiff takeover November 20, 2012 Reckitt Benckiser said yesterday it looked forward to clinching a deal to buy US vitamin maker Schiff Nutrition after rival bidder Bayer announced it would not increase its offer. Reckitt last week trumped Bayer’s $1.2bn (£754m) agreed deal to buy Schiff with a higher offer of $1.4bn. “Our original tender offer still stands and we [...]
FTSE 100 slips as miners lead index down January 4, 2013 The blue chip index was broadly flat in early deals, as it failed to replicate its landmark day of trading on Wednesday. The FTSE 100 edged down by around 0.15 per cent this morning. Miners led the way down as worries that the US Fed might halt its monetary easing programme and concerns over US [...]
Reckitt shoves aside Bayer as bids $1.4bn for Schiff Nutrition November 15, 2012 UK CONSUMER and healthcare company Reckitt Benckiser made a rival $1.4bn offer for Schiff Nutrition International yesterday, topping Bayer AG’s agreed $1.2bn deal to acquire the U.S. vitamin maker. Reckitt proposed to pay $42 for each Schiff share, a 23.5 per cent premium over the $34 per share that Bayer, Germany’s biggest drugmaker, agreed to [...]
Santa rally stumbles as FTSE 100 flat December 20, 2012 The Santa rally stumbled this morning, as the blue chip index remained flat in early trading, stalled by tensions in US budget talks. Yesterday, the FTSE 100 closed just four points behind the year’s highest closing mark. The ongoing Libor scandal, which continued in the spotlight for another day as two UBS traders were charged, [...]
Reckitt Benckiser’s focus on key brands and markets pays off May 1, 2012 CONSUMER goods group Reckitt Benckiser reported a slightly better than expected four per cent rise in underlying first-quarter sales yesterday as a new focus on its top brands and faster growing markets started to pay off. New chief executive Rakesh Kapoor, who took over last September after Bart Becht’s shock decision to retire, said the [...]
Best of the Brokers October 25, 2012 HOME RETAIL GROUP UBS maintains its “buy” rating for the consumer goods retailer, raising its target price from 115p to 120p. The broker will not change full-year 2013 PBT and outer year estimates. APR ENERGY Seymour Pierce has downgraded the power provider from “hold” to “reduce,” lowering its target price to 650p from 685p. The [...]
Promotion for BAML banker Hume-Kendall October 9, 2012 RUPERT Hume-Kendall, one the most prolific dealmakers at Bank of America Merrill Lynch and short-listed for City A.M.’s investment banker of the year award, has just been promoted to a new position within the bank. He will now be chairman of global corporate and investment banking for Europe, Middle East and Africa. Hume-Kendall has advised [...]
Promotion for BAML banker Hume-Kendall October 9, 2012 RUPERT Hume-Kendall, one the most prolific dealmakers at Bank of America Merrill Lynch and short-listed for City A.M.’s investment banker of the year award, has just been promoted to a new position within the bank. He will now be chairman of global corporate and investment banking for Europe, Middle East and Africa. Hume-Kendall has advised [...]