Shares News

London’s FTSE 100 ticks 77 points higher to 7,681 on Wednesday, investors evidently regaining confidence with miners, tobacco sellers and drug companies in demand early on. High-end housebuilder Berkeley (BKG) cheapens 3.5% to £39.93 after warning that profit growth will slow to ‘more normal levels’ from 2018/19, when profits are expected to be around 30% lower. Results for the year ...

Heating and plumbing products distributer Ferguson (FERG) continues to push on in the US, its biggest market. The company reported revenue growth in excess of 10% in its third quarter to 30 April, and 7.1% organic progress. The group was originally called Wolseley but it adopted the name of its US division to reflect the importance of that market. Around 90% of earnings before ...

A profit warning at retirement housebuilder McCarthy & Stone (MSC) has triggered a 14.5% decline in its share price to 111.5p as a strong selling period over spring failed to materialise. The news coincides with the resignation of chief executive Clive Fenton who will retire at the end of August. He claims a new strategy is needed since Brexit and a lack of Government support, including a ...

Branded footwear retailer Footasylum (FOOT:AIM) has warned that slower earnings growth could be in store this year to February 2019. Weak high street conditions means the company will need to step-up marketing and store expansion spending in order to keep the tills ringing. Accompanying maiden AIM results following November’s successful IPO, the disappointing news sees shares in the trendy ...

Weak consumer spending is hitting the retail space hard on Tuesday with gloomy commentary coming from trendy trainers seller Footasylum (FOOT:AIM) adding to yet another profit warning from Debenhams (DEB). The UK department store chain has warned on profit for the third time in six months, blaming poor trading on increased competitor discounting and weakness in key markets. That sees the ...

Shares recently highlighted the growing trend of law firms joining the stock market for a myriad of reasons. Since then a further three companies have signalled their intentions to follow suit and float on the stock market. On Wednesday, Anexo is due to join the junior AIM market, targeting a £110m market cap based on a placing price of 100p per share. The company is not a typical legal ...

Packaging company DS Smith (SMDS) has reported a 21% jump in full year adjusted pre-tax profit to £473m with the figures bolstered by acquisitions and recovering paper prices. These figures do however strip out a slew of implied one-off costs relating to acquisitions and restructuring. It also adds back £93m of amortisation non-cash charges. Including all of these costs puts pre-tax ...

Australian-based mining and metals company South32 (S32) has sealed a deal to acquire the remaining 83% stake of Arizona Mining for $1.3bn in cash. South32, previously demerged from BHP Billiton (BLT), has offered C$6.20 per share for the remaining shares it doesn’t already own in Arizona. The price represents a 50% premium to the Arizona Mining’s closing price on Friday, implying a ...

The FTSE 100 is down slightly by 7 points to 7,627 as trade war fears are once again brought to the fore. Also German chancellor Angela Merkel’s stance over her open door immigration policy has put her in a precarious position which is weighing on investor sentiment. Miner South32 (S32) which spun out of mining behemoth BHP Biliton (BLT) gains 1.2% to 214.2p on news it is acquiring Arizona ...

Shareholders in logistics company Stobart (STOB) have been drawn into a battle between former CEO Andrew Tinkler and the board by being asked again to support the re-election of chairman Iain Ferguson in a letter. The FTSE 250 company also defends its dismissal of Tinkler yesterday, stating that it had ‘no alternative’ as his actions, including writing to all employees, ‘threatened to ...