Our new website is coming soon, give it a try now and let us have your feedback. Take me to the Beta

Email Facebook Twitter

TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential
Latest Share Chat

Burberry Alliance News (BRBY)

Alliance News for Burberry (BRBY)

Share Price: 1,780.00Bid: 1,779.50Ask: 1,780.50Change: 10.00 (+0.56%)Riser - Burberry Grp
Spread: 1.00Spread as %: 0.06%Open: 1,775.00High: 1,798.50Low: 1,773.50Yesterday’s Close: 1,770.00

LONDON BRIEFING: Bakkavor Goes Ahead With GBP1 Billion London Float

Fri, 10th Nov 2017 08:03

LONDON (Alliance News) - Bakkavor, having said just last week it was not going ahead with its London IPO, announced the pricing and date for the float on Friday.

The fresh prepared food company priced its IPO at 180 pence per share, meaning it will raise GBP100 million and have a market capitalisation of GBP1.04 billion. The listing will happen on Thursday next week, it said.

Bakkavor gave no reason for the change of heart and couldn't be immediately contacted early Friday. Its statement referred specifically to its statement last Friday, in which it said it will "no longer proceed with its plans for an initial public offering".

Here is what you need to know at the London market open:
FTSE 100: up 0.1% at 7,494.11
Hang Seng: up 0.1% at 29,167.54
Nikkei 225: closed down 0.8% at 22,681.42
DJIA: closed down 0.4% at 23,461.94
S&P 500: closed down 0.4% at 2,584.62
GBP: flat at USD1.3120 (USD1.3127)
EUR: flat at USD1.1636 (USD1.1644)

GOLD: flat at USD1,283.65 per ounce (USD1,284.55)
OIL (Brent): soft at USD63.71 a barrel (USD64.04)

(changes since previous London equities close)
Friday's Key Economic Events still to come

US Veterans Day (stock market open)

0930 GMT UK index of production
0930 GMT UK trade
1300 GMT UK NIESR monthly GDP estimates

0845 CET France industrial production index
0845 CET France flash estimate of job creation
1000 CET Italy industrial production

1000 EST US University of Michigan Survey of Consumers
1400 EST Bank of Canada Weekly Financial Statistics
The date of Brexit will be written into law as Theresa May warned Tory rebels that the process of leaving the EU will not be derailed. Amendments to legislation going through Parliament will spell out that the UK's membership of the EU will end at 11pm GMT, midnight in Brussels, on March 29, 2019. Brexit Secretary David Davis said the change will make the UK's departure date "crystal clear". And the prime minister issued a blunt message to pro-EU MPs, saying any attempt to block Brexit will not be tolerated. The move comes as Davis was set to meet the European Union's chief negotiator Michel Barnier in Brussels, where officials have been engaged in the latest round of Brexit talks.
The British people are in danger of being "misled" by government claims that Brexit cannot be reversed, the architect of the Article 50 process is warning. Lord Kerr, the former UK ambassador to the European Union, will insist that Theresa May's decision to send the letter triggering the Article 50 withdrawal process does not mean Brexit was inevitable. "We can change our minds at any stage of the process," he will say as negotiations continue in Brussels on the UK's separation from the bloc. Brexit Secretary David Davis and the EU's chief negotiator Michel Barnier will meet in Brussels on the second day of the latest round of talks before a crunch summit of European leaders next month which could decide whether to move on to the next stage of the process covering a future trade deal.
The UK government is to raise taxes on new diesel cars at it attempts to push drivers towards less polluting alternatives, the Financial Times reported. The newspaper said Chancellor Philip Hammond has decided a tax rise is the best move to find cash for new air-quality initiatives rather than cuts elsewhere and will announce the move in the November 22 budget, though it is not clear if he will raise VAT or create a new levy.
US Senate Republicans unveiled their highly anticipated tax reform bill, with the proposed legislation including several key differences with the House version. The notable differences between the bills include a delay in the implementation of the cut in the corporate tax rate. The Senate bill still reduces the corporate tax rate to 20% from 35%, although the new rate does not take effect until 2019. The House bill would start the 20% rate next year. The delay of the corporate tax cut in the Senate bill reflects an effort by Senators to partly offset the cost of the legislation. In a move likely to anger some members of Congress, the Senate version also completely repeals state and local tax deductions.
US President Donald Trump will not meet Russian President Vladimir Putin in any formal capacity at APEC, White House Press Secretary Sarah Sanders has said, despite previous suggestions from both Russia and the US. "Regarding a Putin meeting, there was never a meeting confirmed, and there will not be one that takes place due to scheduling conflicts on both sides," Sanders said on Air Force One.
Heating and plumbing products distributor Ferguson said it has entered an agreement to sell Stark Group, its Nordics building materials distribution business, to an affiliate of private equity firm Lone Star Funds for EUR1.02 billion. The sale will be on a debt-free and cash-free basis, and costs relating to the sale are expected to be in the region of GBP50.0 million. Ferguson, formerly known as Wolseley, said the net assets of Stark are approximately EUR500 million, and noted that it has retained approximately EUR150 million of property assets which it expects to sell "in due course".
Indian miner Vedanta reported higher interim pretax profit of USD675 million compared to USD427 million in the corresponding period last year. Revenue was up 39% to USD6.80 billion compared to USD4.90 billion. Vedanta proposed an interim dividend 24 cents compared to 20 cents last year. "Our performance in the half year underlines that Vedanta's consistent strategy is delivering results. We are seeing the benefits of growth at Zinc and Aluminium, and the benefits of strong operating performance overall, alongside higher commodities prices," Chairman Anil Agarwal said.
Midcap construction and infrastructure company Galliford Try reported growth in its construction order book, coming in at GBP3.60 billion compared to GBP3.40 billion. In its Linden Homes business, the average sales rate was 0.62 units per site per week so far in 2017, up from 0.56 a year before. Linden Homes sales reserved-to-completed were up to GBP652million from GBP614 million in the previous year. The company also said it is seeing good market conditions across its three businesses. "We continue to make good progress against our strategy to 2021 with clearly defined plans across all of the three businesses that are integral to Galliford Try, which provides the board with confidence in its ability to deliver a strong performance even in a period of lower growth in the wider economy," the company said.
Media and entertainment giant Walt Disney reported a drop in profit for the fourth quarter, as revenue declined 3%. Burbank, California-based Disney's fourth-quarter profit dropped to USD1.75 billion from USD1.77 billion last year. Revenue for the quarter decreased 3% to USD12.78 billion from USD13.14 billion last year. Analysts had a consensus revenue estimate of USD13.34 billion. Disney closed Thursday's trading in New York at USD102.68, up USD1.50 or 1.5%. The stock, however, dropped USD3.38, or 3.3%, in after-hours trade.
Integrated steel and mining company ArcelorMittal reported its third-quarter net income attributable to equity holders of the parent almost doubled to USD1.21 billion from last year's USD680 million. Operating income of USD1.2 billion increased 2.5% from last year. EBITDA of USD1.9 billion grew 1.5%. Sales for the quarter were USD17.64 billion, higher than USD14.52 billion a year earlier. Steel shipments of 21.7Mt increased 6.8% year-over-year. Iron ore shipments grew 8.1% to 15Mt. Looking ahead, the company said market conditions are favourable. The demand environment remains positive and steel spreads remain healthy.
Allianz Group reported that its third-quarter net income attributable to shareholders decreased 17% to EUR1.6 billion from EUR1.9 billion in the prior year, affected by high claims from natural catastrophes and partly offset by lower tax expenses. Operating profit declined to EUR2.5 billion from EUR3.0 billion, largely due to EUR529 million losses from natural catastrophes. Third-quarter total revenue rose 2.1% in the third quarter of 2017, compared to the third quarter of 2016, to EUR28.3 billion from EUR27.7 billion, mostly due to a strong performance by the Life & Health business segment.
Swiss jeweller Richemont reported that its first-half profit increased 80% to EUR974 million. This mainly reflects a higher operating profit and a EUR181 million reversal in net finance income. First-half operating profit increased by 46% to EUR1.17 billion. Excluding the prior year period's one-time charges, operating profit increased by 11%. First-half sales increased by 10% at actual exchange rates to EUR5.60 billion, and by 12% at constant exchange rates. Excluding the prior year period's inventory buy-backs, sales increased by 8% at constant exchange rates.
Friday's Shareholder Meetings

Galliford Try
By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

Alliance News

Related Shares:

LONDON BRIEFING: Bakkavor Goes Ahead With GBP1 Billion London Float

LONDON (Alliance News) - Bakkavor, having said just last week it was not going ahead with its London IPO, announced the pricing and date for the float on Friday. The fresh prepared
[10 Nov '17 08:03]

BROKER RATINGS SUMMARY: Jefferies Upgrades G4S To Buy From Hold

LONDON (Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:----------FTSE 100----------JEFFERIES RAISES G4S TO 'BUY'
[1 Nov '17 09:39]

TOP NEWS: Go-Ahead Warns On New Year As Annual Profit Falls

LONDON (Alliance News) - Passenger transport provider The Go-Ahead Group PLC on Thursday reported lower profit in its recently-ended financial year and warned on profit in its rail
[7 Sep '17 07:19]

TOP NEWS: easyJet CEO Carolyn McCall Resigns For Same Role At ITV

LONDON (Alliance News) - Budget airline easyJet PLC on Monday said Chief Executive Carolyn McCall will leave the company in order to fulfil the same role at broadcaster ITV PLC.McC
[17 Jul '17 07:07]

LONDON MARKET MIDDAY: Sterling Recovers After Strong UK Job Report

LONDON (Alliance News) - Stocks in London were higher on Wednesday at midday, with the FTSE 100 helped by commodity-related stocks, while the pound got a boost from healthy UK unem
[12 Jul '17 11:08]

LONDON MARKET OPEN: Dovish BoE Deputy Governor Drags Down Sterling

LONDON (Alliance News) - Stock prices in London opened higher in London, as dovish comments from the deputy governor of the Bank of England weighed on the pound while oil prices ra
[12 Jul '17 07:43]

TOP NEWS: Burberry Expects Lower Forex Hit As First-Quarter Sales Grow

LONDON (Alliance News) - Burberry Group PLC on Wednesday reported growth in revenue in the first quarter of its financial year and said it now anticipates a lower foreign exchange
[12 Jul '17 07:17]

LONDON MARKET OPEN: Ex-Divs Drag; AB Foods Rises On Busy Primark Sales

LONDON (Alliance News) - Stocks in London opened slightly lower on Thursday, as ex-dividends weighed on the FTSE 100, despite a lift from strong revenue for Associated British Foo
[6 Jul '17 07:41]

Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk

Home  |  Contact Us  |  About Us  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy  |  Mobile Site  |  About this website design

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.