Why investors should take a stake in high-growth UK tech companies October 22, 2012 THE campaign to reawaken the London tech initial public offering (IPO) market has kicked off. Recent announcements from Downing Street and the London Stock Exchange should result in some small but important regulatory changes. They are important steps towards making London a major hub for tech IPOs. But regulation is not the only barrier to [...]
ENTREPRENEUR OF THE YEAR August 5, 2012 We start the week with the latest nominees for the third annual City A.M. awards – our shortlist for Entreprenur of the Year. Some of the world’s great companies were founded in tough economic times, and we are undoubtedly living through dark days now. It takes a clear head to lead a company when all [...]
ANALYST VIEWS | WHAT HAS SPARKED MARKS & SPENCER’S POOR TRADING PERFORMANCE? July 10, 2012 BETHANY HOCKING INVESTEC The ongoing outperformance of food is making M&S a structurally lower gross margin business, with food gross margin around 20 basis points lower than of clothing. Clothing still accounts for roughly half of profits, however, so issues there are in need of a solution and the management changes are thus positive, but [...]
Web treats prove to be a real bargain July 10, 2012 SHOPPING is all about justification. “I need that extra jumper because…”. And when it comes to justifying our purchases, we turn to one of two options. “Because I’m worth it” or “because it’s cheap”. Buying decisions, beyond bare essentials, are about treats and bargains. That’s true even in cash-strapped times like the present. Earlier this [...]
LONDON REPORT July 8, 2012 ALL eyes will be focused on the Treasury Select Committee hearing today, as deputy Bank of England governor Paul Tucker presents his side of the story in the Barclays/ Libor scandal. His appearance will be followed tomorrow by one from Marcus Agius, the former Barclays chairman. Today sees trading updates from housebuilder Bovis – expected [...]
BEST of the BROKERS June 5, 2012 JOHNSON MATTHEY Deutsche Bank rates the chemicals group “buy” with a target price of £24.50. The broker expects good second-half results when the firm reports tomorrow, with a 14 per cent rise in pre-tax profit driven by higher demand for automotive products and precious metals. NEXT Nomura rates the high street retailer “buy” and has [...]
Asos lifts off overseas but UK is tougher November 3, 2011 ASOS yesterday reported a rise in profits fuelled by booming international markets, though UK growth slowed. The company, which sells designer labels at discounted prices online, said revenue for the six months to the end of September was £217m, up more than 50 per cent on the same period last year. Underlying profits – which [...]
FTSE steadies after Alcoa results July 10, 2012 The FTSE 100 was flat today with aluminium giant Alcoa reporting positive results to start the US earnings season which helped steady investors’ nerves. Alcoa saw its quarterly revenue and profit beat Wall Street’s expectations even though prices for its aluminium are at nearly two-year lows. Meanwhile Eurozone finance ministers have agreed to lend Spain [...]
ASOS sees UK sales slowing October 14, 2011 Online fashion and beauty retailer ASOS announced strong growth in the first two quarters of the year, but UK sales are slowing. Year on year sales for the second quarter are up by 53 per cent, and for the first half by 60 per cent. However UK sales rose by only one per cent in [...]
ASOS sees UK sales slowing October 14, 2011 Online fashion and beauty retailer ASOS announced strong growth in the first two quarters of the year, but UK sales are slowing. Year on year sales for the second quarter are up by 53 per cent, and for the first half by 60 per cent. However UK sales rose by only one per cent in [...]