Unilever and Tullow Oil help drive FTSE briefly over key 6,200 level January 23, 2013 BRITAIN’S FTSE 100 share index hit the 6,200 level for the first time since May 2008 yesterday after Unilever got the UK earnings season off to an encouraging start, sending its stock to a record high. Shares of the Anglo-Dutch consumer goods company rose 3.1 per cent to top 2,500p for the first time ever [...]
FTSE pension fund black hole soars to £120bn June 6, 2012 THE collective pension fund deficit of FTSE 350 companies has risen threefold to £120bn in just a year as historic final salary schemes continue to take their toll. The research, from Barnett Waddingham, showed that more than 220 companies in the index sponsor a defined benefit scheme. The sharp rise in the deficit at the [...]
Firmer performances by financial stocks lift FTSE as volumes stay thin July 10, 2012 A RECOVERY in beaten-down financial stocks pushed Britain’s benchmark share index higher yesterday, although volumes were thin, indicating a lack of conviction in the rally due to fears over the Eurozone debt crisis and the weak global economy. The blue-chip FTSE 100 index closed up 0.7 per cent, or 36.74 points, at 5,664.07 points, recovering [...]
St Modwen hunts for a partner on Elephant and Castle scheme December 3, 2012 ST MODWEN yesterday confirmed it was searching for a development partner for the £500m Elephant and Castle shopping centre regeneration in south London. In a trading update for the year to 30 November, the developer said it has hired Colliers International to find a joint venture partner for the scheme, which is expected to provide [...]
Profits soar at investor ICG May 22, 2012 INTERMEDIATE Capital was the biggest riser on the FTSE 350 index yesterday after it posted a five per cent jump in profit. The firm, which specialises in providing mezzanine financing, posted fund management company profit before tax of £37.7m. Group profit before tax for the year to 31 March rose 31 per cent to £243.8m [...]
Banks fuel FTSE gains but Eurozone picture darkens June 27, 2012 Banks fuelled modest gains on the FTSE 100 in early trading but investor confidence remained weak overall as the Eurozone’s leaders failed to offer any evidence of a path to recovery for the bloc. Disagreements between the region’s policymakers over how to deal with the turmoil are weighing on investors’ confidence ahead of a European [...]
Rolls-Royce confident on targets November 9, 2012 Power systems firm Rolls-Royce said this morning it expects to post good growth in underlying revenue and profit for the year, despite forecasting flat revenue in its marine division. The FTSE 100 firm said guidance for all business segments remained unchanged, except in its marine division, where revenue would be broadly flat due to “phasing [...]
Premier sells Branston arm in £92.5m deal October 30, 2012 PREMIER Foods yesterday said it has agreed to sell its Branston range of pickles and sauces to Japanese food manufacturer Mizkan for £92.5m, in its latest efforts to pay down debts. The deal, which is expected to be completed early next year, includes Premier’s Bury St Edmunds factory where the sauces including Branston relish, salad [...]
Positive Chinese data sees the FTSE grow to highest level since March October 18, 2012 BRITAIN’S top share index rose to a seven-month closing high ysterday, bolstered by mining stocks on a reassuring economic outlook from top metals consumer China. Chinese economic growth slowed to 7.4 per cent year-on-year during the third quarter, as expected, but industrial output and retail sales data for September beat forecasts, paving the way for [...]
Evidence of revolt at every single level May 20, 2012 THE shareholder spring has sprung. Since proxy season started, we’ve become accustomed to the sight of investors giving directors a bloody nose. I’ve decided to crunch the numbers to see just how rebellious the buy side has become. A win is a win. Just three firms have been voted down at their annual meetings in [...]