Bullish corporate results bolster FTSE January 18, 2011 THE FTSE rose healthily today and though it gave back some of the gains in the afternoon it closed in the black, up 1.18 per cent or 65.10 to 6,050.80. Banks boosted trading as conditions in the eurozone continued to stabilise, while Burberry was in demand after releasing excellent third-quarter results that showed revenues rose [...]
Bullish corporate results bolster FTSE January 18, 2011 THE FTSE rose healthily today and though it gave back some of the gains in the afternoon it closed in the black, up 1.18 per cent or 65.10 to 6,050.80. Banks boosted trading as conditions in the eurozone continued to stabilise, while Burberry was in demand after releasing excellent third-quarter results that showed revenues rose [...]
Richemont in sales boost led by China January 17, 2011 SWISS luxury goods group Richemont saw healthy sales growth in all business areas in its third quarter as wealthy Chinese customers continued to splash out on Cartier jewellery and timepieces. Overall sales for the three months to 31 December were up 33 per cent, beating analysts’ forecasts. Sales in the Asia-Pacific region rose 42 per [...]
THE WEEK AHEAD January 16, 2011 COMPANY NEWS ● Several large American technology companies will report their results after UK trading hours on Tuesday, including Apple, IBM and Western Digital. ● As will remaining British retailers, including the fashion group Burberry and Carphone Warehouse. ● The budget pub chain JD Wetherspoon will release a trading update on Wednesday, as will bookmaker William [...]
BEST OF THE BROKERS November 17, 2010 BURBERRY Standard & Poor’s rates the retailer as a “hold” with a target price of £10.60 after in-line half-year results. The broker believes Burberry’s increased sales in non-apparel play to its model as a luxury brand, but does not expect any significant consensus upgrades and believes the rise in GDP could hamper its future performance. [...]
Celebrating the best of the City October 28, 2010 Mayor of London Boris Johnson snapped up the most prestigious gong at CityA.M.’s inaugural awards ceremony last night. A panel of judges, made up of some of the most influential members of the Square Mile’s financial community, voted unanimously for Johnson to be personality of the year, saying that he was a “wild personality” and [...]
Shock GDP contraction pulls FTSE and sterling downward January 25, 2011 RETAILERS were hit as Britain’s top share index fell yesterday after a shock 0.5-per cent contraction in UK GDP in the last three months of 2010. The FTSE 100 closed was down 26.14 points, or 0.4 per cent, at 5,917.71, having risen 0.8 per cent on Monday. Figures from the Office of National Statistics showed [...]
BEST OF THE BROKERS December 5, 2010 BURBERRY Seymour Pearce rates the luxury fashion retailer a “buy”. The broker believes the company has transformed its operations since the financial crisis and reinforced its image as a “must have” brand. It now looks set to outgrow its market peers with yearly profit growth expected to be 20 per cent in future. GREENE KING [...]
BEST OF THE BROKERS December 5, 2010 BURBERRY Seymour Pearce rates the luxury fashion retailer a “buy”. The broker believes the company has transformed its operations since the financial crisis and reinforced its image as a “must have” brand. It now looks set to outgrow its market peers with yearly profit growth expected to be 20 per cent in future. GREENE KING [...]
FTSE mining and auto stocks hit by China tightening fears January 20, 2011 BRITAIN’S top share index sank to its lowest closing level in more than five weeks yesterday, weighed down by mining stocks on concerns over potential further monetary tightening by China and its impact on demand. The FTSE 100 closed down 108.79 points, or 1.8 per cent, at 5,867.91, its lowest close since December 13. Miners [...]