Broker snap: Wetherspoon rating too low says Panmure
11th Mar 2010 11:22
Pub owner JD Wetherspoon's interim results were 6% ahead of broker Panmure Gordon's forecasts, due to a lower net finance charge. Wetherspoon is trading on a current year (2010) P/E of 13.9 times and an EV/EBITDA ratio of 7.1 times. The broker believes this is too low for a compelling roll-out st
Read moreLondon open: Miners lead decline
11th Mar 2010 08:17
London's main index is being dragged lower by mining stocks, though Old Mutual is the weakest link among the blue chips after it published full-year results this morning. South African insurer Old Mutual has resumed dividend payments following a better second half and is exploring the sale of US Li
Read moreLondon pre-open: Early retreat expected
11th Mar 2010 07:40
It looks like being a gloomy start to trade in London after last night's flat finish on Wall Street, wit stocks pulling back from yesterday's new 18-month high. Futures prices indicate an early 17-point drop for the FTSE 100. In company news, oil giant BP has beefed up its exploration operations w
Read moreWetherspoon reinstates dividend payment
11th Mar 2010 07:01
JD Wetherspoon reinstated its dividend as the pub group reported half year sales and profits at record levels. Pre-tax profit in the 26 weeks ended 24 January was £36.2m, an increase of 17.5% on a pre-exceptional basis (2009: £30.8m) and a jump of 41.4% (2009: £25.6m) after exceptional items. Like
Read moreFTSE 250 movers: Zinc deal boosts Talvivaara
25th Jan 2010 11:06
Shares in Talvivaara jumped after the Finnish metals group said it has reached an agreement to supply 1.25m tonnes of zinc to Belgium's Nyrstar. Pub groups are in demand with JD Wetherspoon and Marston's among the top 10 risers. Oil-related stocks are going well, with explorer and producer Herita
Read moreForth Ports director increases stake
21st Jan 2010 16:34
Non-executive director Gerry Brown has bought 5,000 shares in Forth Ports. This takes his stake in the port operator to 7,064 shares. The shares cost 1,100p each making the cost of the investment £55,500. Brown is senior independent director of Forth Ports. He has been a non-executive director s
Read moreThursday tips round-up: Wetherspoon, Soco, Character
21st Jan 2010 06:01
The economic backdrop remains tough but Wetherspoon's value-for-money offer and unmatched retail skills will ensure that it is among the winners. At 463p, or 13 times earnings, hold on for recovery, advises the Times. The Independent agrees and says the shares are too pricey to recommend buying more
Read moreLondon close: Miners lead Footsie lower
20th Jan 2010 17:20
London's top stocks closed sharply lower with the mining sector weighing on the index on reports that China has told its banks to stop lending in an attempt to cool its runaway economy. Antofagasta, Xstrata, Lonmin, Eurasian Natural Resources and Vedanta were all nursing losses. Elsewhere in the
Read moreLondon afternoon: Footsie undermined by Chinese rumours
20th Jan 2010 14:24
The eight biggest fallers among FTSE 100 constituents are all miners, as the sector comes under the cosh on reports that China has told its banks to stop lending in an attempt to cool its runaway economy. Antofagasta, Xstrata, Lonmin, Eurasian Natural Resources and Vedanta were all nursing losses o
Read moreLondon midday: Miners hit by new China fears
20th Jan 2010 12:06
Miners are dragging Footsie lower on reports that China has told its banks to stop lending in an attempt to cool its runaway economy. If true, that could have ramifications for metal demand hence the meaty falls today for Lonmin, Xtrata, ENRC and Antofagasta. BHP Billiton set half-year production
Read moreLondon open: Blue chips edge lower
20th Jan 2010 08:37
London's blue chips have made a poor start despite triple-digit gains on Wall Street overnight. Pharmaceutical companies are the best performers after Republican Scott Brown won a shock victory in the race for the US Senate seat in Massachusetts. It puts a question mark over President Obama's plann
Read moreChilly temperatures hit JD Wetherspoon
20th Jan 2010 07:33
Britain's recent cold snap hit sales at pubs group JD Wetherspoon with many customers reluctant to brave the snow and ice. Sales at pubs open for more than a year fell by 0.3% in the 12 weeks to 17 January, with the last two weeks being affected by adverse weather conditions, the group said. For t
Read moreLondon afternoon: US jobs sour sentiment
8th Jan 2010 13:54
Footsie has turned down after a worse than expected US monthly jobs number. Job losses were 85,000 in December against the more optimistic forecasts of a large positive number. In the UK, Kazakhi companies Eurasian Natural Resources (ENRC) and Kazakhmys are on the up while Randgold Resources and B
Read moreLondon midday: Waiting for US jobs data
8th Jan 2010 11:58
The market remains in wait-and-see mode ahead of the release of the change in US non-farm payrolls at 1:30pm. The December figure could be significant in that some economists are expecting it to show the trend for job losses evident since December 2007 has finally ended. Back in the UK leading sha
Read moreThursday newspaper round-up: Honours list, house prices, JD Wetherspoon
31st Dec 2009 08:15
A lone banker features in a new year honours list on Thursday that largely shuns the City and politicians, in favour of "local heroes" and other less contentious recipients of awards, the FT reports. The CBE for Dyfrig John, who retired as chief executive of HSBC Bank in March, is the only high-pro
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