Editor's Picks
Wednesday tips round-up: Greene King, McBride, Johnson Service
Wednesday 07 Sep 2011
Greene King raised £200m in May 2009 to fund expansion. Greene King has spent £70m to £80m a year out of earnings on doing up its existing estate. Much of the rights issue cash went on premium pubs in London and food-led outlets elsewhere. The shares, not far from where they were a year ago, sell on about nine times this year’s earnings and look like one of the best plays in the sector
Britain and Ireland a drag for Dixons Retail
Wednesday 07 Sep 2011
Dixons Retail, the electrical retailer behind Currys and PC World, reported a 7% fall in like-for-like sales in the 12 weeks to 23 July amid continuing tough conditions in Britain and Ireland.
London pre-open: Triple digit rise in prospect
Wednesday 07 Sep 2011
After rallying late in the session yesterday, London looks set to carry on where it left off, with City sources predicting the FTSE 100 will open up 110 points from yesterday's close of 5,157, despite some bleak news from the retail sector. Consumer electronics retailer Dixons said like-for-like sales were down 7% from a year earlier in the 12 weeks to 23 July.
Basel III liquidity rules could be relaxed says FT
Tuesday 06 Sep 2011
Global bank regulators are preparing to ease new rules that require banks to hold more liquid assets to withstand another financial crisis, according to the Financial Times.
Sector movers: Morrison pulls retailers higher ahead of results
Tuesday 06 Sep 2011
The food and drug retailers were on the way up, with FTSE 100 supermarket giants Morrison and Tesco among the high risers in the sector.
Premium tips: Berkeley Group, DS Smith, Greene King...
Tuesday 06 Sep 2011
UBS said "it only gets better" for London- and south east-focused house builder Berkeley Group, saying robust trading in the start of the fiscal year has led to significant upgrades. The broker noted that even though Berkeley has brought forward its profit target to the full year-ending 2013, the outlook beyond that looks very favourable "with a number of flagship London sites likely only
US close: Third day of losses on Wall Street
Tuesday 06 Sep 2011
After a holiday on Monday, US benchmarks carried on where they left off as stocks fell during the third consecutive day of losses.
Premium broker snap: 'It only gets better' for Berkeley, says UBS
Tuesday 06 Sep 2011
UBS says "it only gets better" for London- and south east-focused house builder Berkeley Group, saying robust trading in the start of the fiscal year has led to significant upgrades.
London close: Higher finish after late rally, RBS and Barclays lag
Tuesday 06 Sep 2011
London’s leading share index rediscovered its earlier buoyancy to close with good gains after another choppy day. Shares had given up early gains after a weak start on Wall Street, but rallied in late trading, though banks RBS and Barclays were left behind.
Johnson Service lifts divi 22%
Tuesday 06 Sep 2011
Dry-cleaning, textile rental and facilities management business Johnson Service said all of its divisions are trading well in challenging market conditions as it increased its interim dividend payout to 0.33p.
US Services ISM comes in ahead of expectations
Tuesday 06 Sep 2011
The Institute of Supply Management’s (ISM) service sector index rose to the 53.3 point mark in August, from 52.7 the month before.
Market overview: ISM data comes in better than expected
Tuesday 06 Sep 2011
1500: Despite a poor start on Wall Street, which has seen the major benchmark indices fall over 2%, the Footsie has been able to keep its head above water and is trading 0.25% higher in the mid-afternoon. Analysts are expecting US stocks to bounce back, however, after the ISM’s non-manufacturing index rose to 53.3% in August, up from 52.7% seen in July “indicating continued growth at a slightly
London open: Whitbread leads the rise
Tuesday 06 Sep 2011
The Footsie opened moderately higher in early trading, helped by strong gains by coffee shop, restaurant and hotel owner Whitbread. Whitbread was the high riser on the blue chip index, gaining over 5%, after it was able to accelerate revenue growth during the first half, posting a 12.9% improvement in sales in the second quarter, up from a 9.2% increase in the first three months of the year.
Meggitt wins shoot out for Aussie defence contract
Tuesday 06 Sep 2011
Meggitt, the FTSE 250 company specialising in components for the aerospace and defence markets has won a contract with the Australian Defence Force (ADF).
Market overview: Footsie stabilises
Tuesday 06 Sep 2011
0807: After two days of heavy selling, the pace of decline looks like it might be easing off. On the corporate front, Whitbread saw like-for-like sales rise 4.8% in the 11 weeks to 18 August, driven by strong growth at Costa Coffee and a solid performance at Premier Inns.
Market overview: Footsie stabilises
Tuesday 06 Sep 2011
0807: After two days of heavy selling, the pace of decline looks like it might be easing off. On the corporate front, Whitbread saw like-for-like sales rise 4.8% in the 11 weeks to 18 August, driven by strong growth at Costa Coffee and a solid performance at Premier Inns.
Market overview: Footsie stabilises
Tuesday 06 Sep 2011
0807: After two days of heavy selling, the pace of decline looks like it might be easing off. On the corporate front, Whitbread saw like-for-like sales rise 4.8% in the 11 weeks to 18 August, driven by strong growth at Costa Coffee and a solid performance at Premier Inns.
Genus sales driven by the Americas
Tuesday 06 Sep 2011
Full-year sales at animal genetics group Genus rose by 9% in the full year ended 30 June, led by increased demand for genetics from its customers, especially in Latin America and the US.
Fenner to beat full-year forecasts
Tuesday 06 Sep 2011
Reinforced polymer technology Fenner has revealed that numbers for the year ended 31 August are likely to be ahead of market expectations, due to strong growth in both the Conveyor Belting and Advanced Engineering Products divisions.
FX round-up: Eurozone woes pressure single currency
Tuesday 06 Sep 2011
The euro retreated against the dollar and the yen, for a sixth consecutive day, amid renewed worries about the Eurozone sovereign debt crisis.
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