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Burberry Share News (BRBY)

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Share News for Burberry (BRBY)

Share Price: 1,852.50Bid: 1,831.00Ask: 2,040.00Change: 0.00 (0.00%)No Movement on Burberry Grp
Spread: 209.00Spread as %: 11.41%Open: 1,819.00High: 0.00Low: 0.00Yesterday’s Close: 1,852.50

Glance-Burberry leads Britain's FTSE 100 up from 1-week lows

Thu, 11th Oct 2012 10:19

By Toni Vorobyova

LONDON, Oct 11 (Reuters) - Britain's FTSE 100 share

edged up from one-week lows on Thursday, with concerns about the

euro zone crisis offset by signs of slightly better trading at

luxury fashion house Burberry.

A downgrade in Spain's credit rating by Standard & Poor's to

just above junk after market close on Wednesday underscored the

problems faced by the euro zone.

The news hit Spanish shares and pushed up its bond yields,

but other markets saw some positivity, speculating that Madrid

may now be under more pressure to formally ask for help,

kick-starting the European Central Bank's bond buying rescue


'It sounds like bad news, but I think there is potentially a

silver lining to it in that a downgrade might force Spain to ask

for a bailout so it potentially increases the chances of that,'

said James Butterfill, global equity strategist at Coutts.

Britain's FTSE 100 was up 12.29 points, or 0.2

percent at 5,788.00 by 0749 GMT, in jittery morning trading

which saw it set its lowest level since Oct. 1 before yo-yoing

either side of the no-change.

Burberry was the biggest positive weight on the index, its

shares rising 7.9 percent after the checked raincoat designer,

which issued a profit warning last month, reported an

improvement in trading in September.

With analysts still slashing earnings expectations, any good

news - or simply the lack of fresh bad news - is increasingly

able to move shares higher, enabling Burberry to recover some of

the 28 percent drop seen since the profit warning.

'The profit warning on Sept. 11 looks to have been a bit

premature,' Nick Bubb, independent retail analyst, said in a

note. 'The retail second quarter like-for-like of plus 1 percent

was a bit better than feared, thanks to a modest pick-up in the

last three weeks of the period, reversing the negative trend

seen in the two-three weeks before that.'

Among the UK corporates expected to report third quarter

results, profits are on average seen down 7.5 percent

year-on-year and Thomson Reuters Starmine predicted surprise

indicator suggests that the actual figures will be slightly


That could enable the FTSE 100 to play catch up with the

pan-European FTSEurofirst 300, which is up nearly 9

percent for the year-to-date against gains of 3.7 percent for

the UK index.

'In the UK, there is a greater chance of upside support to

the FTSE 100 given that it's underperformed recently,'

Butterfill at Coutts said.

(Editing by Janet Lawrence)

( 207 542 9828)(Reuters Messaging:

Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

UPDATE 2-Financials, miners lead FTSE 100 rebound, but Burberry, Thomas Cook slip

* FTSE 100, FTSE 250 up 0.8%* Banks, miners boost main index* Burberry slumps after FY report* Profit warning takes Thomas Cook to multi-year low* Gen
[16 May '19 10:04]

Huawei ban fans China-U.S. worries, hits FTSE 100; Thomas Cook slumps

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.3%* FTSE 250 up 0.3%* Thomas Cook slumps to multi-yr low* Bu
[16 May '19 08:40]

European stocks dip as U.S. sanctions on Huawei add to trade anxiety

(For a live blog on European stocks, type LIVE/ in an Eikon news window)May 16 (Reuters) - European shares retreated on Thursday after Washington blac
[16 May '19 08:02]

UPDATE 3-Burberry's profits lack new designer's touch

* Full-year adj operating profit down 6%, missing market view* Revenue flat at 2.72 billion pounds* Says very encouraged by response to Tisci's new co
[16 May '19 07:59]

CORRECTED-Burberry reports steady full-year profit

(Corrects to read Tisci, paragraph 1)LONDON, May 16 (Reuters) - British luxury brand Burberry reported broadly flat full-year revenue and profit on Th
[16 May '19 07:21]

UPDATE 2-London's FTSE 100 falters, outcome of U.S.-China talks awaited

* FTSE 100 down 0.9 pct* FTSE 250 down 1.3 pct* BT slumps after FY results* RSA, Barratt higher on trading updates* Metro slips to a fresh life low (A
[9 May '19 10:02]

U.S.-China trade tensions haunt London's FTSE 100

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5 pct* FTSE 250 down 0.6 pct* RSA higher after Q1 report* Su
[9 May '19 08:57]

UPDATE 2-FTSE 100 flounders as miners, exporters drag; Metro Bank plummets

* FTSE 100 down 0.5 pct* FTSE 250 down 0.6 pct* Miners, exporter shares drag on main index* Shell, Smith & Nephew outshine* Metro Bank hits life-low a
[2 May '19 09:43]

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