Taylor Wimpey in volatility warning June 28, 2010 HOUSEBUILDER Taylor Wimpey has warned that conditions in the UK housing market remain volatile despite signs of greater stability in recent months. The FTSE 250 group said private sales rates for the year to date are “broadly in line” with those in the first half of 2009 at an average of 0.58 sales per site [...]
Taylor Wimpey in volatility warning June 28, 2010 HOUSEBUILDER Taylor Wimpey has warned that conditions in the UK housing market remain volatile despite signs of greater stability in recent months. The FTSE 250 group said private sales rates for the year to date are “broadly in line” with those in the first half of 2009 at an average of 0.58 sales per site [...]
Procter & Gamble drags on Wall Street in flat day August 3, 2010 US stocks slipped yesterday as Dow component Procter & Gamble’s lacklustre results, coupled with weaker-than-estimated data on consumer spending and housing, prompted investors to exercise caution a day after the market’s two per cent rally. P&G dropped 3.4 per cent to $59.94, ranking as the top drag on the Dow industrials after the consumer goods [...]
House price boom starts to crumble June 28, 2010 HOME prices fell for the first time in more than a year in May, Land Registry data showed yesterday, sparking fears of a second downturn in Britain’s fragile housing market. The average residential property dropped 0.2 per cent in value during the month as uncertainty over austerity measures to be enforced by the incoming government [...]
House price boom starts to crumble June 28, 2010 HOME prices fell for the first time in more than a year in May, Land Registry data showed yesterday, sparking fears of a second downturn in Britain’s fragile housing market. The average residential property dropped 0.2 per cent in value during the month as uncertainty over austerity measures to be enforced by the incoming government [...]
Growth slows in parts of US July 28, 2010 Economic growth in parts of the US is at risk of grinding to a halt, heightening fears of a double-dip recession. The Federal Reserve’s latest Beige Book survey, released yesterday, and tracking 12 regions showed growth in Atlanta and Chicago had slowed and Cleveland and Kansas City had held steady. Other regions were described as [...]
Armani sets out resilient sales report July 12, 2010 ITALIAN fashion house Giorgio Armani yesterday said it had displayed “resilience” to battle through the global economic crisis, as it announced falls in its sales and profits. The company said consolidated revenues shrank by six per cent to €1.52bn (£1.27bn), down from sales of €1.62bn last year. And the company saw its operating profit plunge [...]
Barratt on target for full year profit July 14, 2010 HOUSEBUILDER Barratt Developments said the group’s full-year profits will come in above expectations as it continues to focus on maximising selling prices while keeping a lid on costs. The UK’s third largest housebuilder has pencilled in an operating profit of at least £85m with margins rising to four per cent. The average selling price rose [...]
AB Foods sees a sales surge July 8, 2010 PRIMARK owner Associated British Foods gave an upbeat update yesterday saying its third quarter sales jumped 13 per cent and that it expected very strong growth in annual earnings, driven by its fashion discount retailer. Its 198-strong Primark chain reported sales in its spring quarter rose 15 per cent, outperforming many of its rivals and [...]
US HOUSING MARKET IN NEED OF HELP June 28, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT STOCK indices have been positively correlated to movements in euro-dollar for such a long time that it is easy to forget that this wasn’t always the case. There is growing evidence that this relationship is breaking down – equities are struggling to rally, whether the euro is falling or [...]