Laura Chesters is stock market reporter and covers the luxury goods sector on the business desk at The London Evening Standard, i, The Independent and The Independent on Sunday.
04 November 2013 12:27 AM
The damage caused by St Jude last week wasn’t as bad as many had feared – which is good news for insurers. But storms aside, investors in Hiscox may be disappointed by the lack of dividend growth, when the firm today reveals plans to reinvest cash into its retail operations and IT systems over the next four years – which Westhouse analysts are concerned will mean there won’t be much “surplus capital available to be returned in the short term … which may disappoint”. The trading backdrop is quite challenging, Westhouse points out, but it believes Hiscox is well-positioned to respond and, ultimately, to grow significantly.
02 November 2013 12:00 AM
Reports of M&A in the telecoms sector kept the FTSE 100 out of the red to finish the week in positive territory. There have been rumours that US giant AT&T has been eyeing Vodafone for some time but a Bloomberg report pushed investors into a buying frenzy yesterday.
01 November 2013 12:00 AM
News that Invesco Perpetual is setting free a chunk of shares in Rentokil Initial saw it tumble to the bottom of the mid-tier table yesterday. The fund manager Invesco said yesterday that it will reduce its holding in the pest control specialist from 25 per cent to around 14 per cent and the shares fell the most in two-and-a-half years.
31 October 2013 01:04 AM
Italian luxury brand Prada is investing in its sister brand Miu Miu in a bid to diversify away from its mainline. Miu Miu has agreed a deal with cosmetics giant Coty to create a perfume for the brand that was launched 20 years ago by Prada chairman Miuccia Prada. The first perfumes will be sold by 2015 and is part of the luxury group’s plan to widen the brand awareness of Miu Miu.
31 October 2013 12:00 AM
Early-morning optimism from traders gave way to voracious profit-taking yesterday as the City placed bets ahead of the US Federal Reserve's meeting. The UK followed Asia's lead as confidence swept the market ahead of the Federal Open Market Committee meeting last night.
30 October 2013 12:00 AM
City experts yesterday took the fizz out of a Greek bottling company on fears of a slowdown in the drinks market. The blue-chip bottler Coca-Cola HBC – once known as Coca-Cola Hellenic Bottling Company – ran out of juice when analysts at the investment bank Nomura issued a warning about its growth prospects and hefty share price. The group, which bottles fizzy and still drinks for Coca-Cola and other brands, as well as bottling and distributing beer in parts of Europe, is a recent entrant to the blue-chip index. Its shares peaked in mid-September at 1,979p when a range of investors piled in, but Nomura thinks the "positive technical impact of inclusion in FTSE indices [is] likely to have run its course" for now.
29 October 2013 01:24 AM
Should the Ivory Coast be renamed the gold coast? Investors in Randgold Resources thought so as its chief executive, Mark Bristow, laid out the opportunities in the African country for the gold miner.
28 October 2013 01:35 AM
Are investors in Aggreko ready for some power outages for the share price? The temporary power provider will update the market on its third-quarter results today, and analysts expect some problems in the short term.
26 October 2013 12:00 AM
Could it be true? No frills airline Ryanair was yesterday claiming it would be nice and improve customer service. This might be good news for cash-strapped passengers but the City took it as a sign of increased competition for British Airways and easyJet.
25 October 2013 01:00 AM
Logo heavy luxury brands appear to be suffering in China as the latest results from Gucci owner Kering show a sales slowdown in Asia.
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