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London open: Bright start for blue chips

Fri, 08th Jan 2010 08:46

London's blue chips are on the rise again, with banks going well and restaurant and pubs groups boosted by Mitchells and Butlers and the Restaurant Group.Pub group Mitchells said trading in the new financial year has remained strong, thanks to sales growth across the main brands, but cautioned that it is still cautious on the outlook for consumer spending. Punch and Greene King are up in sympathy.Sentiment among leisure stocks has been further helped by The Restaurant Group, the company behind the Frankie & Bennie's and Chiquito chains, saying it expects full-year profits to be well ahead of the top end of the range of current market forecasts. Royal Bank of Scotland (RBS) has agreed to sell certain fund management assets and contracts of RBS Asset Management to Aberdeen Asset Management for £84.7m. Aberdeen meanwhile had a 'successful' last three months of 2009, with gross new business wins more than 3½ times the figure for the fourth quarter of 2008. Wins for the period of £9.6bn compared with £2.6bn a year earlier, but there was net funds outflow of £2.6bn said to be mainly low margin business.Recovery continued in all areas except the UK in the fourth quarter for recruiter Michael Page. Page says the UK is likely to remain a difficult market. Operating profit for the year 2009 will come in at £20m after a full year gross profit of £351.7m, down 36.4% on 2008. Sales surged at designer fashion group Ted Baker in the run-up to Christmas, with the UK in particular performing above expectations. Margins also rose on better stock control. Total sales jumped by 19.1% between 1 November and 24 December compared with last year. Spirax-Sarco, the steam valve and pump maker, expects pre-tax profits for 2009 to be above the top of the current range of analysts' forecasts. Sales for the year increased 3% from 2008, including a small contribution from acquisitions and an exchange benefit of 10%. In the US, attention will be on the non-farm payrolls data for December. Figures from payrolls processing firm ADP on Wednesday showed private-sector employment fell by 84,000 in December, the smallest decline in jobs since March 2008, but bigger than expected.
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6 Oct 2014 15:48

TR European Growth Trust Outperforms Benchmark In Financial Year

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26 Feb 2014 17:03

TR European Growth Trust Outperforms Benchmark In First-Half

LONDON (Alliance News) - TR European Growth Trust PLC Wednesday said it outperformed its benchmark in the first-half of the year, with a net asset value per share total return of 24.8%, compared with a total return of 18.9% from its benchmark. The trust said its share price total return was

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11 Nov 2013 15:41

TR European Growth Trust Outperforms Benchmark In Last Three Months

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7 Oct 2013 15:18

TR European Growth In Shareholder Payout As NAV, Total Assets Rise

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21 Jun 2012 16:24

Hikma boss makes a fair few pennies from share sale

Said Darwazah, the Chief Executive Officer of Hikma Pharmaceuticals, the FTSE 250 multinational pharmaceutical group, has pocketed over one million pounds through the sale of company shares last week. Darwazah sold 195,447 shares at 649p each on June 15th for a total of £1,268,451, the company reve

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12 Nov 2010 06:51

Friday tips round-up: Vodafone, Balfour Beatty, RSA...

In an attempt to "create a more valuable Vodafone" the world's largest mobile phone group will focus its efforts on Europe, India and Africa. To underscore this point the group also revealed that it planned to sell its interest in Japanese wireless operator Softbank for £3.1bn. This money will be

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9 Nov 2010 16:29

Brainspark boss increases stake to 38.2%

Alfredo Villa, chief executive of Brainspark, has bought 2.1m shares £2.6m or 125p a share. Brainspark is an investment company with a primary portfolio in Italy encompassing interactive media, leisure, entertainment and financial services. As well as being the chief executivee of Brainspark, Vill

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3 Aug 2010 16:39

ARM directors take advantage of strong share price

Chip designer ARM's chief executive and finance director have both sold shares following a 143% increase in the share price over the past year. Chief executive Warren East sold 140,000 shares at 321.03p each, which raised just over £449,000. East joined ARM in 1994 and he has been chief executive

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18 Jun 2010 17:11

TR European Growth Buys Back 0.5M Shares At 367.2

LONDON (Dow Jones)--TR European Growth Trust PLC (TRG.LN) said Friday it purchased 520,707 ordinary shares at a price of 367.22 pence per share. -Shares closed Friday at 380.0 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones New

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19 Apr 2010 13:15

FTSE 250 movers: Volcano disruption hits easyJet

Airline easyJet is the biggest loser among second-liners as the volcano cloud across Europe continues to ground planes. Taking collateral damage is Frankie & Benny's owner The Restaurant Group, which has a number of its biggest earning restaurants located in airports. Pace's trading update has be

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3 Mar 2010 08:44

London open: Cautious start for blue chips

A weak end to trading in the US last night has pulled London back from yesterday's six-week high. Some big names going ex-dividend have added to the early weakness. Standard Chartered defiantly said it will pay its executives bonuses after another record year in 2009, with income and profits slight

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18 Nov 2009 16:33

London close: Flat finish for FTSE 100

There was no shortage of market moving news today, but with stocks moving in both directions, Footsie finished little changed. It was day for high profile board room appointments, with the share prices of Marks & Spencer and ITV both responding well to an end to uncertainty over leadership issues.

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18 Nov 2009 14:05

London afternoon: Hershey & Ferrero size up Cadbury

It has been a day for high profile board room appointments, with the share prices of Marks & Spencer and ITV both responding well to an end to uncertainty over leadership issues. Retailer Marks & Spencer (M&S) has poached Marc Bolland, chief executive of supermarket chain Morrisons, to be its new b

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18 Nov 2009 12:02

London midday: Market cheers M&S appointment

Retailer Marks & Spencer (M&S) moved to the top of the news agenda this morning after it announced it has poached Marc Bolland, chief executive of supermarket chain Morrisons, to be its new boss. While Marks & Spencer's shares responded positively to the appointment, shares in Morrisons fell back o

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