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Marks & Spencer ShareCast News (MKS)
ShareCast News for Marks & Spencer (MKS)
| Share Price: 472.10 | Bid: 472.50 | Ask: 472.80 | Change: -3.10 (-0.65%) |  | ||||||
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London pre-open: Strong rise expected
Tue, 22nd May 2012 07:32
The Footsie is expected to make its second day of gains on Tuesday, following a poor performance last week. City sources are predicting the blue chip index to rise around 50 points from yesterday's close of 5,304.
It was revealed last night by The Financial Times that the European Central Bank (ECB) has provided €100bn to Greece's central bank in 'emergency liquidity assistance' (ELA) to help its banks.
In corporate news in London, High Street giant Marks and Spencer saw profits drop by 15.7 per cent in the year ended March 31st due to higher impairments of assets and strategic programme costs.
Statutory pre-tax profit fell from £780.6m to £658m as non-underlying items had a £47.9m adverse impact, compared with a £66.3m gain the year before. Nevertheless, the market consensus was for £693m. On an underlying basis, pre-tax profit fell by just 1.2% from £714.3m to £705.9m.
Mobile phone networks giant Vodafone is expecting underlying growth in adjusted operating profit and stability in free cash flow in the current financial year.
In the year just gone (ending March 31st), group revenue rose 1.2% from a year earlier to £46.4bn, slightly ahead of forecasts of £46.3bn. Organic service revenue growth over the full year was 1.5%, with the fourth quarter seeing an acceleration in growth to 2.3%.
Polymers maker Victrex enjoyed record sales in the second quarter of its financial year as customers stopped running down their stock levels.
Over the six month period, however, group revenue was still down 2% to £105.6m from £107.9m a year earlier. Profit before tax in the six months to March 31st eased to £46.2m from £48.3m the year before.
BC
It was revealed last night by The Financial Times that the European Central Bank (ECB) has provided €100bn to Greece's central bank in 'emergency liquidity assistance' (ELA) to help its banks.
In corporate news in London, High Street giant Marks and Spencer saw profits drop by 15.7 per cent in the year ended March 31st due to higher impairments of assets and strategic programme costs.
Statutory pre-tax profit fell from £780.6m to £658m as non-underlying items had a £47.9m adverse impact, compared with a £66.3m gain the year before. Nevertheless, the market consensus was for £693m. On an underlying basis, pre-tax profit fell by just 1.2% from £714.3m to £705.9m.
Mobile phone networks giant Vodafone is expecting underlying growth in adjusted operating profit and stability in free cash flow in the current financial year.
In the year just gone (ending March 31st), group revenue rose 1.2% from a year earlier to £46.4bn, slightly ahead of forecasts of £46.3bn. Organic service revenue growth over the full year was 1.5%, with the fourth quarter seeing an acceleration in growth to 2.3%.
Polymers maker Victrex enjoyed record sales in the second quarter of its financial year as customers stopped running down their stock levels.
Over the six month period, however, group revenue was still down 2% to £105.6m from £107.9m a year earlier. Profit before tax in the six months to March 31st eased to £46.2m from £48.3m the year before.
BC
Broker snap: Nomura downgrades Kingfisher ahead of 'difficult year'
The recent rally in Kingfisher's share price was paused on Thursday morning after Nomura downgraded its rating on the stock from 'neutral' to 'reduce', saying that shares in the B&Q owner have travelled too far given the tough times ahead.[14 Hours Ago]
Wednesday broker round-up UPDATE
Afferro Mining: Panmure Gordon reduces target price from 279p to 100p, while keeping its buy recommendation.[Yesterday 09:37]
London close: Stocks surge as earnings impress, inflation eases
Well-received results from a number of FTSE 100 heavyweights and a sharp drop in consumer-price inflation in the UK lifted London's benchmark index to fresh multiyear highs on Tuesday.[Tue 16:46]
London midday: Stocks extend gains as inflation falls sharply
Stocks held on to 12-year highs on Tuesday morning as a sharp drop in consumer-price inflation lifted the outlook for the UK economy.[Tue 11:38]
London open: Markets hold on to 12-year highs
Markets were trading within a narrow range on Tuesday morning after finishing at 12-year highs the day before, as traders consider how much further the impressive year-to-date rally has to go.[Tue 08:30]
London pre-open: Small retreat expected in early trade
City sources predict the FTSE 100 will open down seven points from yesterday's close of 6,756, having hit a 13-year high on Monday.[Tue 07:24]
Tuesday broker round-up UPDATE
Antofagasta: Canaccord Genuity reduces target price from 1065p to 1040p, while leaving its hold recommendation unchanged.[Tue 07:12]
M&S posts profit decline as general merchandise sales drag - UPDATE
Marks & Spencer (M&S) reported its second annual profit decline as the retailer's struggling general merchandise division continued to drag on a rise in food sales.[Tue 07:02]
