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Market Report: Imperial Tobacco shares light up on takeover talk

Fri, 17 Feb 2012 00:00:01 +0000

There's no stubbing out the takeover talk around Imperial Tobacco at the moment. The cigarette manufacturer, whose brands include Lambert & Butler, set a new, all-time high last night, after its share price once again lit up on suggestions its days of independence might be numbered.

Market Report: ITV a turn-off after doubts over its sporting summer

Thu, 16 Feb 2012 00:00:01 +0000

Armchair sports fans have a bumper summer to look forward to, and investors in ITV have been licking their lips in anticipation. The broadcaster – or so the theory goes – is expected to get a boost from both Euro 2012 and the Olympic Games thanks to companies upping their spending on advertising.

Market Report: WPP gets a boost from US – and the City is lovin' it

Wed, 15 Feb 2012 00:00:01 +0000

News from across the Atlantic will have put a smile on Sir Martin Sorrell's face last night. As his WPP empire closed at its highest since last March, one of its major rivals posted forecast-beating figures on Wall Street while predicting a jump in advertising spending over 2012.

Market report: Takeover talk ratchets up shares and excitement

Tue, 14 Feb 2012 01:31:32 +0000

There is nothing like bid talk to get the Square Mile excited, and there was plenty to whet the appetite yesterday. The news that Vodafone is eyeing up Cable & Wireless Worldwide was not the only prospective deal on investors' minds amid claims that companies are eager to start splashing the cash.

Investment view: Barclays would be a buy if it worked for shareholders

Tue, 14 Feb 2012 00:00:01 +0000

Our view: Hold

Small Talk: Whitehall needs to put its money where its mouth ison helping small business

Mon, 13 Feb 2012 00:00:01 +0000

One thing that would definitely help Britain's small and medium-sized enterprises grow into large companies one day is more business from a customer that spends £236bn a year procuring good and services. Step forward the public sector – if it were to raise the amount of business it awards to SMEs, even by a small percentage, the results could be dramatic.

The Week Ahead: Telecity to show earnings strength but risks loom

Mon, 13 Feb 2012 00:00:01 +0000

Today

Market Report: Next best thing as fashion grows for clothes retailers

Sat, 11 Feb 2012 00:00:01 +0000

Optimism that conditions might be easing for clothing retailers persuaded investors to stock up on Next yesterday, despite claims the level of service on the high street is waning.

Investment Column: 'Cheap treats' can put the cheer back into pubs sector

Fri, 10 Feb 2012 00:00:01 +0000

Anyone invested in the pub subsector for a while probably has the sort of hangover you could only get from drinking a vat of sour Guinness. However, Enterprise Inns cheered the City yesterday by predicting it could raise up to £200m through selling pubs this year, which will help with its debt burden. But it still described the outlook as "challenging".

Market Report: IG's progress is halted as Footsie gets stuck in a rut

Fri, 10 Feb 2012 00:00:01 +0000

The blue-chip index is stuck in a rut. Indecision among punters means the FTSE 100 has barely moved this week, with a mere 20 points between its highest and lowest closing levels. Yesterday was no different as the benchmark index rose just 19.54 points to 5,895.47 despite Greek politicians finally reaching an austerity deal.

Market Report: Evraz echoes out-of-form Chelsea as Roman suffers

Thu, 09 Feb 2012 00:00:01 +0000

His Chelsea team has not exactly been at the top of its game recently, and yesterday another of Roman Abramovich's investments found itself under pressure. Evraz – the steelmaker which is part-owned by the Russian oligarch – was on the slide amid fears a lack of short-term demand for the metal will blow the whistle on its recent rally.

Market Report: Inmarsat's shares rocket after bid rumours return

Wed, 08 Feb 2012 00:00:01 +0000

Takeover talk was circling Inmarsat again last night, as the return of vague bid rumours sent the satellite telecoms group into orbit. A frequent subject of speculation, the latest revival prompted a late spurt that saw the company close 15.2p better off at 437.2p – a new, two-month high.

Investment View: In the long run, stock-pickers are not all that good

Tue, 07 Feb 2012 00:00:01 +0000

During the bull market of the 1990s it seemed any fool could make money. There were, as ever, ups and downs, but the stock market moved in one general direction, which was upwards.

Market Report: William Hill on a loser as bookies take online rap

Tue, 07 Feb 2012 00:00:01 +0000

Don't put your money on the bookies, was the advice being given out to punters yesterday. William Hill was left near the back of the pack after it and its rivals were attacked for giving worse odds to gamblers in their shops than those who choose to make their wagers online.

Small Talk: It's not just the start-ups that are in need of a helping hand

Mon, 06 Feb 2012 00:00:01 +0000

In an economy where the Government talks loud and long about how it wants small companies to power the recovery, what precisely does it mean by small? All too often, for small companies, read start-up businesses, new ventures founded by entrepreneurs from scratch.

The Week Ahead: 'Solid' results set to add extra shine to Randgold

Mon, 06 Feb 2012 00:00:01 +0000

Today

Market Report: Footsie ends on a high but Cairn Energy misses out

Sat, 04 Feb 2012 00:00:01 +0000

It may have been boom time in the Square Mile, but not everyone was along for the ride. While the Footsie closed last night at its highest since last July, Cairn Energy was among the stocks missing out on the rally amid fears the oil explorer is about to come under sustained pressure.

Investment view: Some rays of light shining through high street gloom

Fri, 03 Feb 2012 00:00:01 +0000

Is there anything to like about life on planet retail right now? In the last few weeks I've looked at the supermarkets and M&S. But what about the rest? Are there any rays of light in the grey gloom that hangs over Britain's high streets?

Market Report: 'Glenstrata' deal has some worried about missing out

Fri, 03 Feb 2012 00:00:01 +0000

The heavyweight miners may have been largely buoyed by the possibility of a wave of consolidation across the sector yesterday, but not everyone was cheered by the prospect. After years of speculation, the news that "Glenstrata" looks set to become a reality sparked fears over who will be left out in the cold by the deal.

The Market Report: Bloody nose for shortsellers as Ocado rockets

Thu, 02 Feb 2012 00:00:01 +0000

The short-sellers won't be happy, but there is no stopping Ocado at the moment. One of the most divisive stocks in the Square Mile, the online grocer continued its fantastic start to the year yesterday as yet more short covering helped it up to its highest share price for four months.

Market Report: Lloyd's block on entrants may spark insurance deals

Wed, 01 Feb 2012 00:00:01 +0000

With 2011 ending up as one of the worst years ever for natural disaster claims, the insurers have had a tough time of it recently. Yesterday, however, investors were being told that – thanks partly to Lloyd's of London becoming an increasingly exclusive club – there could be a rush of deals to keep their spirits up.

Investment View: M&S looks on the pricey side as a double-dip looms

Tue, 31 Jan 2012 00:00:01 +0000

Marks & Spencer: OUR VIEW: Avoid. SHARE PRICE: 323.1P (8.9P)

Market Report: Broker's backing puts SuperGroup in fashion

Tue, 31 Jan 2012 00:00:01 +0000

With its abundance of pin-striped suits, the Square Mile may not exactly match Shoreditch or Paris for cutting-edge fashion. Yet SuperGroup was in vogue yesterday after fears the clothing chain's popularity is nothing more than a short-lived craze were played down by one of the world's largest brokers.

Small Talk: Late payers are still pushing small companies to the wall despite the efforts of ministers

Mon, 30 Jan 2012 00:00:01 +0000

Lobbyists for special interest groups invariably demand tough action from government in favour of their particular cause – often seeking new legislation. Yet as small businesses have found out to their cost, even when such legislation makes it on to the statute book, there's no guarantee it will have the desired effect.

The Week Ahead: Recruiter will reveal clues to sentiment of employers

Mon, 30 Jan 2012 00:00:01 +0000

Market Report: Smoke signal from Citi says Imps looks like a buy

Sat, 28 Jan 2012 00:00:01 +0000

If in doubt, smoke.

Investment view: Standard Life's a safe bet but room for improvement

Fri, 27 Jan 2012 00:00:01 +0000

Our view: Hold. Share price: 219.8p (3.1p)

Market report: Stocks respond to better news on debt and earnings

Fri, 27 Jan 2012 00:00:01 +0000

Almost four weeks into January and traders are feeling optimistic. Talks on resolving Greece's debt crisis have resumed. Ben Bernanke, Federal Reserve chairman, says ultra-low interest rates will last another three years – a year longer than expected – and US corporate earnings continue to surprise on the upside. Little wonder stocks have responded worldwide.

The Market Report: Halfords 'set to cash in' on Olympics year of the bike

Thu, 26 Jan 2012 00:00:01 +0000

Get ready for a cycling boom, was the sporty message from the Square Mile yesterday. With the Olympics just around the corner, City scribblers were claiming there will be a rush to follow in Sir Chris Hoy's tyre tracks as more and more of us jump on our saddles.

The Market Report: BarCap a worry as US rivals pave way for 'weak results'

Wed, 25 Jan 2012 00:00:01 +0000

It was transformed into one of the world's top investment banks under his control. Yet yesterday Bob Diamond was being urged to undergo a massive overhaul of Barclays Capital amid claims that such a move would be for the good of the company as a whole. With Barclays' preliminary results little more than a fortnight away, poor figures from the investment-banking arms of its American rivals have raised serious concerns over the performance of BarCap.

James Moore: Fund-lovers can prosper but must choose carefully

Tue, 24 Jan 2012 00:00:01 +0000

Fund managers aren't bankers, but the accusation that they behaved as "absentee landlords", sitting by while bank bosses blew their businesses up, means they aren't winning any popularity contests right now.

Market Report: BAE soars as countries boost their firepower

Tue, 24 Jan 2012 00:00:01 +0000

While it may not be the ethical investor's stock of choice, BAE Systems certainly has its allies in the Square Mile. They were out in force yesterday as the arms dealer was fired up to a seven-and-a-half month high amid praise for its international exposure and hopeful speculation that possible disposals could result in a windfall for investors.

Small Talk: Find new ways to fund start-ups

Mon, 23 Jan 2012 00:00:01 +0000

Increasingly sensitive to the accusation that the Government has not done enough to help small and medium-sized enterprise get access to finance, Vince Cable has begun the year with the launch of yet another task force. Legal & General chief executive Tim Breedon has been asked to investigate alternative sources of finance to bank lending, with submissions to his inquiry due by the end of this week.

The Week Ahead: Hunt for clues on how Cairn will spend its India fortune

Mon, 23 Jan 2012 00:00:01 +0000

Today

Market Report: City wonders if Diageo will spirit away Guinness

Sat, 21 Jan 2012 00:00:01 +0000

It may be the best-selling stout in the world – and arguably the Emerald Isle's most famous export – but that did not stop the prospect of Diageo bidding farewell to Guinness being discussed in the City yesterday. As traders looked forward to enjoying a pint of the black stuff last night, Investec's Martin Deboo was suggesting that the drinks giant's flagship brand may actually be holding it back.

James Moore: Take a tip from Warren Buffett and buy some Tesco shares

Fri, 20 Jan 2012 00:00:01 +0000

The retail sector is one to approach with caution. Consumers have less money in their pockets, too much debt that needs paying off, and precious little confidence.

Market Report: BSkyB picture dimmed as the analysts tune out

Fri, 20 Jan 2012 00:00:01 +0000

The Footsie may have reached a five-month high last night, but punters were switching off BSkyB amid claims the satellite broadcaster has fallen out of touch with the great British public. The group has become increasingly friendless in the Square Mile, and yesterday it dropped another 23p to 666.5p after Bernstein Research's Claudio Aspesi became the fourth analyst in a matter of days to hit it with a downgrade.

Market Report: Shire under the weather as rival hits recovery trail

Thu, 19 Jan 2012 00:00:01 +0000

There was a rather pale look to Shire last night as the drugs maker weakened after one of its major rivals took a big step towards recovery. For a number of years now, Shire has been benefiting from serious supply issues suffered by Genzyne, but yesterday the biotech firm appeared to turn a corner.

Market Report: City ponders new move by Cowdery for Phoenix

Wed, 18 Jan 2012 00:00:01 +0000

Could Clive Cowdery rekindle his interest in caging Phoenix? That was the question being considered yesterday as hopes were raised that the tycoon's insurance conglomerate Resolution may have another go at adding the life insurer to its menagerie of businesses.

Investment View: If you're seeking income, start with the Footsie's top-yield shares

Tue, 17 Jan 2012 00:00:01 +0000

With interest rates in much of the developed world close to or at zero, holding money in cash is a recipe for penury.

Market Report: Tui Travel on the climb as talk of takeover is revived

Tue, 17 Jan 2012 00:00:01 +0000

Just because it is one of the longest-running tales in the Square Mile does not mean a takeover of Tui Travel may not happen one day. Talk that Germany's Tui AG could be about to buy the 45.5 per cent of the tour operator it does not already own has done the rounds for years, but yesterday hopes were being raised that this time it really could happen.

Small Talk: Fearful firms need more help to grow

Mon, 16 Jan 2012 00:00:01 +0000

Will he put his money where his mouth is? David Cameron's first set-piece speech of the year was to a group of small business owners in Maidenhead, an outing that was meant to underline the Prime Minister's determination – shared by his Chancellor – to ensure that small and medium-sized enterprises are the engine that drives economic recovery. Yet all the evidence suggests that fear continues to hold back many businesses that might otherwise be looking to expand in 2012.

The Week Ahead: Cheaper land set to boost housebuilders' margins

Mon, 16 Jan 2012 00:00:01 +0000

Today

Market Report: Unlucky 13th for Footsie as Europe rating fears grow

Sat, 14 Jan 2012 00:00:01 +0000

It was all too good to be true.

Investment Column: Wherever you look at RBS it's politics that's the problem

Fri, 13 Jan 2012 00:00:01 +0000

Our view: Avoid

Market Report: Traders shrug off broker's warning on Pru break-up

Fri, 13 Jan 2012 00:00:01 +0000

Those who have been hankering for a break-up of the Pru may want to think again. Some may argue a series of disposals is the way forward for Prudential, while its boss, Tidjane Thiam, is believed to be supportive of the idea if it can increase value for shareholders, but Nomura warned yesterday that going down this path would be a big mistake.

Market Report: Arm shares dip as Intel enters smartphone battle

Thu, 12 Jan 2012 00:00:01 +0000

The battle between Arm Holdings and Intel looks like it is heating up. Normally used to taking market share from its rivals, Arm was left deep in the red last night by the news that Intel is about to give the chipmaker a taste of its own medicine and take it on in the burgeoning smartphone market.

Market Report: Chinese whispers revive bid speculation for Aviva

Wed, 11 Jan 2012 00:00:01 +0000

Will a bid for Aviva finally emerge this year? Never far from the takeover spotlight, the insurer was again getting market gossips excited yesterday amid revived speculation that an approach could materialise from the Far East.

Investment: Looking to the bottom line pays off for builder in a difficult market

Tue, 10 Jan 2012 01:10:50 +0000

Persimmon: OUR VIEW: Buy

SHARE PRICE: 506.5P (+25.5P)

Market Report: Risk-averse clients glad of a guide on stocks to avoid

Tue, 10 Jan 2012 01:08:39 +0000

How about this for a sign of the times: while many brokers have already released their top buy recommendations for 2012, Panmure Gordon decided yesterday to do something a little different and publish a list of its least-favourite stocks. A rather unusual move, the firm's "top sells" list for the year came in the wake of increased demand from clients who wanted to know what they should avoid amid the current market uncertainty.

Small Talk: Small firm, big bonuses and little explained

Mon, 09 Jan 2012 00:00:01 +0000

In an era of mounting concern about executive excess, it isn't only large companies that stand accused of overpaying their directors. Take Conygar, the Alternative Investment Market-listed property company, which a group of small shareholders complains is "a good example of how directors can exploit the opportunities implicit in the present system".

The Week Ahead: Sainsbury's likely to be festive season's winner

Mon, 09 Jan 2012 00:00:01 +0000

While it is the high street stores that have grabbed the attention concerning the problems facing the retail sector, the supermarkets are by no means escaping unscathed. Of the three Footsie names, the last to release figures was Tesco, and it was not good news. With shoppers cutting back on their spending, the UK's largest supermarket admitted that for the fourth quarter in a row its underlying sales had dropped, while industry figures have shown it is losing market share.

Market Report: Man trips again – and falls to its lowest for 10 years

Sat, 07 Jan 2012 00:00:01 +0000

"Man down!" was the cry from the Square Mile last night.

Investment Column: Cineworld still in the picture despite the slowdown

Fri, 06 Jan 2012 00:00:01 +0000

Cineworld

Market Report: Sage eases up despite fears of difficult year

Fri, 06 Jan 2012 00:00:01 +0000

While the Footsie closed deep in the red last night, Sage was kept afloat on hopes that the business software group will avoid the woes of its peers. The consensus in the City may be that the sector is facing a difficult year ahead as firms cut spending on IT, but Sage was picked out yesterday by Bank of America Merrill Lynch as one of the names still worth buying.

Market Report: Go-Ahead moves into fast lane for takeover gossips

Thu, 05 Jan 2012 00:00:01 +0000

Despite high hopes at the start of the year, takeover activity in the Square Mile ended up being rather subdued during 2011. However, punters praying the next 12 months may prove to be different will have been cheered yesterday by the revival of takeover talk around a number of stocks. One of them was Go-Ahead, the transport group which has been frequently suggested as a possible target. Vague rumours of a potential approach were doing the rounds last November, and yesterday it was back in the spotlight thanks to Liberum Capital.

Market Report: British investors told to look abroad for gains

Wed, 04 Jan 2012 00:00:01 +0000

It may have been a storming start to 2012 for the blue-chip index, but the City was hardly worry-free yesterday. Despite the Footsie gaining nearly 130 points to continue a rally that has seen it add almost 6 per cent in the last six sessions, investors were still being told to look outside Blighty for major gains.

The Week Ahead: Next is first in line to give measure of festive season

Tue, 03 Jan 2012 00:00:01 +0000

While there has been no shortage of estimates and predictions already over how the retailers have fared during the festive period, the beleaguered high street will be eager to get hold of some solid trading numbers. Therefore all eyes will be on Next tomorrow as the first major name in the sector to release a trading statement post-Christmas, with the clothing chain not only announcing figures up to 24 December but also expected to comment on how the sales period has been going.

Market Report: Dismal day marks the end of a terrible year in the City

Sat, 31 Dec 2011 00:00:01 +0000

The final trading day of the year on the stock market was almost as dismal as the 12 months which preceded it.

Market Report: 'Santa rally' gives Footsie a boost on retail optimism

Fri, 30 Dec 2011 00:00:01 +0000

"It's a Santa Rally," cried City traders. The FTSE 100 shot up more than 1 per cent, rising 59.37 points to 5566.77, on its last full day of trading before the year-end. The few equity traders at their desks this week have been doggedly seeking positive news but for much of yesterday the market remained depressingly lacklustre. Volumes were less than 3 per cent of the 90-day daily average, which gives an indication of just how quiet it was.

Market Report: BP slips after US chief called to testify in trial

Thu, 29 Dec 2011 00:00:01 +0000

It was a case of good-news-bad-news for BP yesterday. Overnight came the declaration from a federal judge in the US that accident-prone BP was not negligent in the Prudhoe Bay oil spill in Alaska. The decision on the 2009 accident was seen as a minor victory for the British giant as it battles to repair its reputation from the Gulf of Mexico disaster. However, that was followed soon after by the announcement that its top US executive, Lamar McKay, will be subpoenaed to testify in a February trial over liability for the Deepwater Horizon blowout.

2011: a year of ups and downs downs

Tue, 27 Dec 2011 00:00:01 +0000

And it all started off so well. When the bell rang on the first trading day of 2011, with the Footsie at a two-and-a-half year high of 6,013.87, dealers would have been forgiven for feeling pretty confident about the year ahead.

Market Report: Christmas shot in the arm after a year of turbulence

Sat, 24 Dec 2011 00:00:01 +0000

As "Santa rallies" go, this year's has hardly been much to write home – or even to the North Pole – about.

Market Report: Indian headache forces Vodafone to miss party

Fri, 23 Dec 2011 00:00:01 +0000

While most of its fellow blue-chip stocks were enjoying a pre-Christmas bounce on very light volumes, Vodafone was missing the party. A ticking off from the Indian government meant the telecoms giant was in a sulk yesterday, only managing to edge up 0.5p to 173.55p.

Market Report: Festive retail woes 'may have been overcooked'

Thu, 22 Dec 2011 00:00:01 +0000

Whisper it quietly, but could Christmas on the high street not be the horror show everyone is expecting? The mood around the retailers might be at rock bottom at the moment, but there are some in the Square Mile who believe the current level of concern may be overdone.

Market Report: City fans power Aggreko to top spot on the Footsie

Wed, 21 Dec 2011 00:00:01 +0000

It will be powering the Olympics next year, but last night it was Aggreko which ended up with the gold medal. The temporary power supplier finished in pole position on the blue-chip index, moving up 122p to 1,970p, as voices in the Square Mile queued up to lend their support. One of the cheerleaders for the group, which raised its profit forecasts earlier in the week, was Guardian Stockbrokers' Atif Latif who predicted further upgrades ahead. Aggreko's focus may be on London over the coming months, but he picked out the Middle East and North Africa as being particularly exciting.

Investment: Aviva is star pickof life insurers as Prudential suffers growing pains

Tue, 20 Dec 2011 00:00:01 +0000

Life insurers really ought to be a defensive investment, providing acceptable long-term capital growth and an attractive yield. Regardless of the current economic problems, demographics remain solidly in their favour. Britain and Europe are ageing. Asia is getting rich, but lacks much in the way of public life, health or pension provision.

Market Report: Housebuilders find their popularity on the wane

Tue, 20 Dec 2011 00:00:01 +0000

The housing market can hardly be said to be booming at the moment, but that hasn't stopped the housebuilders recently, in the Square Mile at least. The sector has found itself rather in favour with investors during 2011, with its stocks managing to outperform the FTSE All Share index by an average of over 20 per cent.

Market Report: Ashtead benefits from $2bn merger of US rivals

Sat, 17 Dec 2011 00:00:01 +0000

Instead of being scared off by its rivals across the Atlantic ganging up, a multibillion-dollar merger between two of its peers gave Ashtead a boost yesterday. The equipment hire firm climbed 10.2p to 209.6p on the mid-tier index after United Rentals agreed to pay $2bn for RSC Holdings, sparking hopes it could become a takeover target itself.

Investment: Gambling on the betting industry is no sure thing

Fri, 16 Dec 2011 00:00:01 +0000

Time to take a punt on the gambling sector? There has been a theory that gloomy economic times might encourage gaming. A few quid punted provides a momentary escape from the gloom and offers the hope of a payout to make the world look more cheerful.

Market Report: Whitbread starts to feel pain but the call is 'buy'

Fri, 16 Dec 2011 00:00:01 +0000

As investment decisions go, buying into a company just as it admits that trading is on the wane may seem counter-intuitive. Yet that is exactly what punters were being told to do with Whitbread yesterday, despite the Costa Coffee owner's disappointing figures earlier in the week.

Market Report: Deal-hungry Xstrata beats the sliding ftse

Thu, 15 Dec 2011 00:00:01 +0000

Although its fellow heavyweight diggers fell to earth with a bang, Xstrata managed to avoid a large part of the sell-off across the Footsie last night. Amid vague rumours that it could be casting an acquisitive eye across the Atlantic, the Swiss giant was given a boost after being picked out as one of the cheaper mining stocks.

Market Report: Oils climb on fears output may face new disruption

Wed, 14 Dec 2011 00:00:01 +0000

Talk about good timing. As analysts raised their oil forecasts for 2012 yesterday, citing concerns over the potential for unrest around the world to disrupt production, the black gold's price jumped amid rumours of escalating tension with Iran.

Investment: Rolet's back with £450m FTSE deal

Tue, 13 Dec 2011 00:00:01 +0000

London Stock Exchange

Shares: Bid rumours froth again but SAB goes flat in the end

Tue, 13 Dec 2011 00:00:01 +0000

Takeover talk around SABMiller was given a top-up yesterday thanks to the revival of chatter that an approach from Anheuser-Busch InBev (ABInBev) could be on the menu. The Grolsch brewer managed to largely avoid the hangover being suffered by most on the top-tier index after City analysts suggested issues in the States may persuade the Belgian giant to put its UK peer on its shopping list.

Small Talk: Sinclair boosts portfolio with £21m Advanced Bio-Technologies deal

Mon, 12 Dec 2011 00:00:01 +0000

Sinclair Pharma and IS Pharma agreed to merge in April, with shares in the combined business (imaginatively christened Sinclair IS Pharma) starting trading in late May. Since then, the stock has been under pressure, easing as volatility in the wider market gathered pace. But the share price received a shot in the arm last week, after the company, which specialises in dermatological and wound care treatments, unveiled plans to buy the privately held US biotech company, Advanced Bio-Technologies (ABT).

The Week Ahead: Carpetright's suffering is likely to continue in 2012

Mon, 12 Dec 2011 00:00:01 +0000

It is fair to say that 2011 has been a year to forget for Carpetright. One of the retailers worst hit by the pressures on the high street, a string of profits warnings has seen the share price of Britain's biggest floor coverings retailer almost halve since January. Judging by comments in the City, it doesn't exactly look as if things are going to get much better when Carpetright announces its interim results tomorrow. Analysts at Singer Capital Markets expect it to "report its worst first-half figures as a listed company", forecasting a pre-tax profit for the period of £1.2m – almost a tenth of what it managed the previous year. The UK will be the culprit, they say, with a 3 per cent drop in like-for-like sales alongside a steep fall in margins after efforts to revive the business.

Market Report: GSK takes a double dose of unpleasant medicine

Sat, 10 Dec 2011 00:00:01 +0000

Fears of trouble brewing Down Under, as well as disappointing trial results from one of its drugs, left GlaxoSmithKline on its sickbed last night. Britain's largest drugs maker was driven back 16p to 1,424p amid warnings from the City over evidence of a slowdown in Australia.

Investment Column: StanChart is worth holding on to despite the banking turmoil

Fri, 09 Dec 2011 00:00:01 +0000

Our view: Hold

Market Report: IMI and GKN fall foul of European pessimism

Fri, 09 Dec 2011 00:00:01 +0000

All the focus may have been on Brussels yesterday and the kick-off of the do-or-die eurozone summit, but investors were being warned off the region. Claims Europe is heading towards a "difficult recession" left IMI and GKN deep in the red after being picked out as especially exposed to the continent by Credit Suisse.

Market Report: Rod Stewart still sexy but Icap loses its attraction

Thu, 08 Dec 2011 00:00:01 +0000

It may have been Icap's annual charity day, but the rest of the City was not feeling so altruistic towards the interdealer broker yesterday. As celebrities such as Rod Stewart and Lewis Hamilton manned trading desks at its Liverpool Street offices, the group finished in last place on the top-tier index after punters were warned expectations could be too high.

Investment Column: Finals show that fund manager Aberdeen is a safe bet in volatile times

Thu, 08 Dec 2011 00:00:01 +0000

Our view: Hold

Market Report: Would-be predators put off by Meggitt's many parts

Wed, 07 Dec 2011 00:00:01 +0000

Fears the aircraft-parts maker has fingers in too many pies to become a takeover target helped Meggitt finish in last place on the blue-chip index last night. Disappointed investors left the group 17.1p weaker at 366.4p after Credit Suisse said that, despites frequent bid speculation, the wide variety of its operations were likely to put off any predators.

Investments: Lonmin clears potential roadblock with South African union pact

Tue, 06 Dec 2011 00:00:01 +0000

Lonmin

Croda's an attractive tip for a pretty good new year

Tue, 06 Dec 2011 00:00:01 +0000

If you trust the opinions of analysts in the Square Mile, 2012 could be a pretty good year for Croda. They painted an optimistic picture yesterday of the future for the chemicals group – its customers include make-up giants L'Oréal and Estée Lauder – claiming a growing need to look good has left it sitting pretty.

The Week Ahead: TUI Travel cannot escape the turbulence altogether

Mon, 05 Dec 2011 00:00:01 +0000

While Thomas Cook has been engaged in a struggle for its future, fellow operator TUI Travel has been faring rather better. Its bitter rival may have lost roughly 60 per cent of its share price sinceadmitting last month it needed more cash to survive, but over the same period TUI has managed to advance 10 per cent.

Market Report: Pace switched on by good news from US supplier

Sat, 03 Dec 2011 00:00:01 +0000

Punters were plugging back into Pace yesterday as the beleaguered set-top box maker – which has issued three profit warnings in a year – was finally on the receiving end of some good news.

Investment Column: Long-term prospects make Tesco a safe haven in these troubled times

Fri, 02 Dec 2011 00:00:01 +0000

Our view: Buy

Market Report: Argos hot seat could be beckoning again for Rose

Fri, 02 Dec 2011 00:00:01 +0000

Could Sir Stuart Rose make a return to Argos? That was the tale being put forward by City gossips yesterday, as vague speculation suggested the former Marks & Spencer boss could be part of a possible private equity approach for Home Retail. The Homebase-owner has been the subject of persistent bid talk recently, with some in the Square Mile believing a predator may be tempted by the fact its share price has dropped more than 60 per cent since February.

Investment Column: Shaftesbury's exposure to London's West End will keep it propped up

Thu, 01 Dec 2011 00:00:01 +0000

Our view: Hold

Market Report: Antofagasta leads the way on day of miner victories

Thu, 01 Dec 2011 00:00:01 +0000

A surprise loosening of the reins by China on its monetary policy meant the heavyweight diggers were back in demand last night. As the country's central bank dropped the amount of cash lenders must keep in reserve for the first time in nearly three years, the blue-chip miners stormed ahead, with Antofagasta leading the charge.

Investment Column: Rising revenues and healthy yield make IG a good bet in tough times

Wed, 30 Nov 2011 00:00:01 +0000

Our view: Buy

Market Report: Aviva jumps on talk of three potential bidders

Wed, 30 Nov 2011 00:00:01 +0000

The gossip doing the rounds across the City yesterday was looking rather well-worn, with Aviva just one of a number of names once again said to be in the sights of a predator. A month after the rumour mill last focused on the insurer, this time the revived speculation suggested there could be not one but three possible bidders.

Investments: Short-term caution does nothing to dim the long-term case for Rio

Tue, 29 Nov 2011 00:00:01 +0000

Rio Tinto

Market Report: Miners, led by Xstrata, help get the FTSE flying

Tue, 29 Nov 2011 00:00:01 +0000

Judging by the comments of some in the Square Mile, a tie-up between Xstrata and Glencore appears to be virtually inevitable. Yet not everyone is convinced a merger is imminent, including Nomura which yesterday claimed Xstrata was more likely to be on the lookout for acquisitions itself than be taken over.

The Week Ahead: Stabilising housing is the foundation for Kingfisher

Mon, 28 Nov 2011 00:00:01 +0000

Its strong presence in France has traditionally been seen as a major positive for Kingfisher, but the current shakiness of the country's economic situation means questions have been raised over how much of an advantage it really is.

Market Report: Vedanta Resources misses out on long-awaited rally

Sat, 26 Nov 2011 00:00:01 +0000

The blue-chip index's worst losing streak for nearly nine years may have finally come to an end last night, but Vedanta Resources was among those missing on the long-overdue rally.

Market Report: Is Mothercare taking baby steps towards future sale?

Fri, 25 Nov 2011 00:00:01 +0000

Is adoption the next step for Mothercare? Investors in the mother-and-baby retailer were hoping so yesterday after the struggling high street stalwart bounced up the mid-tier index following rumours it may be attracting the attention of private equity.

Market Report: New takeover talk fails to give helping hand to S&N

Thu, 24 Nov 2011 00:00:01 +0000

Familiarity breeds contempt, as Smith & Nephew (S&N) found out yesterday after the return of takeover talk failed to persuade investors to go out on a limb for the prosthetics manufacturer. The group dropped for the sixth straight session even though City analysts were reheating the familiar idea that it may be snapped up by a predator.

Market Report: Dividend whispers put Admiral into overdrive

Wed, 23 Nov 2011 00:00:01 +0000

Rumours its investors may be in for an early Christmas present helped Admiral sail to the top of the blue-chip index last night. The motor insurer revved up following vague whispers claiming it could be about to unveil a rather large special dividend, with mutterings suggesting it may be worth as much as 100p.