Best of the Brokers for 22 May 2015 May 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS & SPENCER Numis reiterated its “hold” rating on the retail group, following a positive full year results presentation. The broker noted that while the 2015 financial year “clearly did not progress according to plan”, the company’s strategy is looking “increasingly robust and focused [...]
Bring me sunshine: FTSE 100 starts the day on a springlike note as miners bounce back March 30, 2016 Markets were clearly taking note of the weather this morning, with the FTSE 100 jumping almost 1.3 per cent to 6,183.8 points in the first minutes of trading. The market was pushed higher miners, who swung back from yesterday's losses to lead the FTSE. Anglo American rose 7.9 per cent to 516.4p, while BHP Billiton [...]
Marks & Spencer finance boss Alan Stewart joins Tesco two months early following £250m profit overestimate September 23, 2014 Alan Stewart will assume his new role as chief financial officer of Tesco from today – over two months earlier than originally planned. Yesterday, the troubled retailer reported it had overstated its first-half profit expectations by £250m, leading to its biggest share price fall in 11 years. In July Stewart announced his plan [...]
Marks & Spencer is preparing to defend clothing to shareholders July 7, 2014 Marks & Spencer boss Marc Bolland is expected mount a vigorous defence of his turnaround strategy today and insist that its clothing arm is on the mend, despite analysts expecting another fall in general merchandise sales. The retailer is likely to face a grilling from shareholders attending the annual general meeting at Wembley stadium over [...]
Apple Pay launches in the UK: Where to use it, how to use it, which iPhone you need and how it works July 14, 2015 If you're the proud owner of an iPhone 6, 6 Plus or Apple Watch you can now spend your cash with little more than the flick of a wrist. Apple Pay has today launched in the UK, allowing people to use near field communication on their iPhones to tap and pay for items worth [...]
City Moves for 13 July 2015 | Who’s switching jobs July 12, 2015 New Quadrant Partners The private client law firm has appointed Helen McGhee as a senior associate. She joins from Squire Patton Boggs. McGhee was recently named rising star at the LexisNexis Taxation Awards, and advises on all aspects of tax affairs. BMO Global Asset Management The investment management firm has announced the appointment of David [...]
Travel caterer SSP serves maiden dividend after booking a profit May 21, 2015 TRAVEL caterer SSP yesterday handed shareholders its maiden dividend since floating on the London stock market last year, as it reported a surge in profits. SSP, which owns and runs franchises in airports and train stations for retailers including Marks & Spencer, said operating profit rose by 28 per cent to £25.2m in the six [...]
Flurry of economic data to shed light on British recovery – London Report May 17, 2015 A STEADY flow of economic data is expected this week, with figures on house prices, producer prices, retail sales and public sector borrowing all scheduled for release. Data out tomorrow is expected to show that the UK experienced unchanged consumer prices year-on-year in April, as was the case in both March and February – although [...]
Pork Farms and Kerry Foods’ merger cleared April 21, 2015 THE COMPETITION watchdog said yesterday it has provisionally cleared Pork Farms’ acquisition of rival Kerry Foods’ chilled savoury pastry business after threatening to carry out an in-depth probe over competition fears. Pork Farms, maker of scotch eggs and sausage rolls for supermarkets like Marks & Spencer, bought Kerry Foods’ chilled savoury pastry business last summer, [...]
Tesco tops suppliers’ naughty list over groceries code June 22, 2015 Tesco has been on the receiving end of more than half of issues raised by suppliers with the new Groceries Code adjudicator in the last year. The troubled supermarket was at the centre of 54 per cent of complaints made, with 11 per cent of Tesco's suppliers going to the new government ombudsman, according [...]