Greek crisis saps market confidence October 3, 2011 Banks were the biggest fallers across Europe on opening this morning after Greece admitted it will not meet 2011-2012 deficit targets imposed by international lenders as part of the country’s bailout. The sector was down 3.7 per cent on the pan-European FTSEurofirst 300 index, illustrating the problem for financial institutions saddled with burden of the [...]
FTSE rises as miners gain and euro hope pushes bank stock October 12, 2011 STRONG miners and banks boosted Britain’s top shares yesterday, keeping the index on an upward tilt, underpinned by progress in tackling the Eurozone sovereign debt crisis and recent upbeat US data. The mood, already elevated by hopes European leaders will unveil new measures to solve the crisis by the month’s end, was further lifted when [...]
EMERGING MARKETS BOOST BURBERRY January 16, 2011 BRITISH luxury fashion house Burberry is likely to show a benefit from strong emerging markets, particularly in Asia, when it publishes figures for its fiscal third-quarter tomorrow. Analysts forecast revenue of about £436m, with like-for-like retail sales up four to eight per cent. The company’s share price has seen steady growth under the guidance of chief [...]
Banks and mining stock fall on fear over Greece and Asia October 3, 2011 BRITAIN’S top share index began the final quarter of 2011 on a downbeat note as investors trimmed positions in banks and miners on familiar concerns over Greece’s debt problems and worries about growth in Asia. A 2012 draft budget approved by Greece’s cabinet on Sunday predicted a deficit of 8.5 per cent of gross domestic [...]
Chinese boom fuels surge in Burberry sales January 18, 2011 BURBERRY yesterday said the Chinese retail boom had helped to fuel its latest sales surge. Like-for-like sales across Burberry’s stores around the world rose by 14 per cent in the last three months of 2010, it said yesterday. The luxury goods company’s star performing market was China where comparable sales leapt by more than 30 [...]
AQUASCUTUM PLANS OVERSEAS PUSH WITH STANDALONE STORES July 3, 2011 BRITISH heritage fashion brand Aquascutum is planning to tap the overseas luxury market that has treated rivals Burberry and Mulberry so well in recent years by launching its first stand-alone shops outside of the UK within the next 12 months. The brand, best known for the classic trench coats worn by British soldiers during both [...]
The captain of industry who says the UK needs to be more like Asia November 20, 2011 FROM the CBI’s offices on the second floor of the Centre Point tower, you get a great view of the construction site that will eventually become the Tottenham Court Road Crossrail station. It is fitting that the CBI, which was one of the railway’s biggest supporters, is so close to the action, and a reminder [...]
Goldman Sachs picks up a broking slot with Autonomy June 21, 2011 INTELLIGENT software company Autonomy yesterday announced it had appointed Goldman Sachs as a third joint broker. Goldman, which now has 11 FTSE 100 broking clients, will work alongside existing brokers UBS and Citi. The Goldman pitch was headed up by Phil Shelley, the former UBS broker who was recruited in December to help strengthen the [...]
ANALYST VIEWS: CAN BURBERRY SUSTAIN ITS SALES MOMENTUM? January 18, 2011 SAM HART| CHARLES STANLEY The Group will face the challenges of higher raw material prices and tough comparatives over the next year, but initiatives in retail, digital, product development and new markets underpins its confidence in the future. Excess cash will be put into the business, so no resumption of share buyback programme. KATE CALVERT| [...]
PERSONALITY OF THE YEAR | The shortlist June 19, 2011 The past year has not been an easy one for the City of London, overshadowed as it has been by the austerity programme in the UK and the Eurozone crisis. But there will be much to be optimistic about and to celebrate at City A.M.’s second annual awards ceremony on 21 September. Our personality of [...]