Advertising giant WPP (WPP) and engineering company Smiths (SMIN) have become the latest FTSE 100 firms to axe their dividends, taking the total up to 13. WPP has suspended its 2019 final dividend and a £950m share buyback having cited a recent deterioration in demand, in a move which will save it £1.1bn in cash. Smiths meanwhile has not declared an interim dividend for the first half of ...

While a large part of the public has been panic buying amid the coronavirus pandemic, an even bigger percentage of investors have been doing the opposite. Panic selling has been rife across stock markets in recent weeks, leading the share prices of many companies to tumble dramatically. Some of the hardest hit had financial difficulties anyway but others, despite their strong balance ...

The FTSE 100 bounced strongly on Friday, rising 4.6% to 5,389 points following gains in Asian markets overnight and expectations of more stimulus actions from around the world to combat the coronavirus pandemic. Stocks which have been hardest hit over the last two weeks bounced back strongly with share prices in Flutter (FLTR), Whitbread (WTB) and Royal Dutch (RDSB) all up double digit ...

Survival of the fittest has long been the mantra of the notoriously cut-throat airline industry. In the past, any number of small issues from overcapacity to the vagaries of the oil price have been enough for some airlines to go under. Now, across the world the industry is facing an unprecedented crisis, with draconian travel bans by several countries making passenger numbers, as ...

Shares held by directors at some of the biggest companies in the FTSE 100 changed hands over the past week in a number of noteworthy transactions. However the biggest deal came from AIM-listed law firm Gateley (GTLY:AIM), with directors and employees cashing in £11m worth of shares, representing 4.1% of the company’s issued share capital, in a placing to meet demand from institutional ...

The FTSE 100 fell into the red on Monday morning as the coronavirus death toll eclipsed Sars, with investors concerned about the impact the virus will have on manufacturing in China and the surrounding region. The UK’s benchmark index opened 0.22% lower to 7,462.05, taking its lead from Asian stock markets which also dropped in morning trade. Japan’s Nikkei 225 fell 0.6%, the Hang Seng ...

The FTSE 100 confounded expectations by opening lower this morning, despite the US and China signing off on the first phase of their trade deal. US stocks rallied last night following the signing with the S&P 500 and Dow Jones hitting all-time highs, but UK stocks evidently haven’t followed suit. Perhaps the market is more concerned about what’s not in the trade deal rather than what ...

London’s FTSE firmed 59.1 points to 7,197 as the week drew to a close, with consumer-facing stocks back in fashion. JD Sports Fashion (JD.), Whitbread (WTB), Kingfisher (KGF) and Next (NXT) all featured in the blue chip index’s top 10 risers. Despite ongoing political uncertainty, early indications suggest that Black Friday was good for retailers, implying that consumers might have become ...

Last week’s column looked at the quantity of FTSE 100 revenue, profit and dividends and drew comfort from how all three were expected to reach record levels in 2020, according to analysts’ consensus forecasts. Better still, those forecasts did not seem unduly aggressive, with the sales expected to rise by just 2%, pre-tax profit by 8% and dividends by 3% next year. This week, our attention ...

Shares in Premier Inn-owner Whitbread (WTB) have remained broadly flat at around £41.95 despite Brexit uncertainty contributing to a lower half year profit. In its results for the six months to 29 August, adjusted operating profit fell 7.7% to £296m while adjusted revenue was effectively flat at £1.08bn. A big drag on its results were the performance of Premier Inn, with its hotels ...

UK stocks opened weaker today as the market awaits another key vote in parliament tonight. The FTSE 100 was down 15 points at 7,151 while the FTSE 250 was down 38 points at 20,270. Durex to Dettol maker Reckitt Benckiser (RB.) cut its full-year guidance for the second time this year sticking the blame on cautious retail purchasing ahead of the flu season in the US for its Mucinex product ...

Although there were few nuggets of corporate news as the third quarter drew to a close, the FTSE 100 index of leading stocks continued to climb towards a two-month high adding another 0.1% to 7,331. Support came mainly from the Banks, with HSBC (HSBA) gaining 0.5% to 627p, Barclays (BARC) gaining 0.3% to 151p and Lloyds (LLOY) also adding 0.3% to 55p. Weighing on the index were the ...

Several analysts suggest the 850p per share takeover offer for pubs group Greene King (GNK) is too low. Investors already holding the stock should sit tight and await a higher offer, either from the current suitor or a counterbid. Hong Kong-based property developer and investor CK Asset is offering £4.6bn for the business including its large debt pile. The offer is pitched at a 25% premium to ...

Activist investing isn’t new, but the reason we’re hearing more about it is the activists themselves are getting increasingly savvy about communicating to the public. Activists come in all shapes and sizes, from ‘lone ranger’-style individuals to the largest fund management and private equity firms. On the whole, they tend to get results. They challenge long-held views and bring a ...

Shares in Premier Inn owner Whitbread (WTB) have dropped 3.4% to £47.34 as it announces it will return around £2bn to shareholders at a price of £49.72 per share. The tender offer is a way of returning some of the proceeds from Whitbread’s £3.9bn sale of Costa Coffee to Coca-Cola earlier this year. Including a £482m share buyback earlier this year, Whitbread has returned just under ...

UK stocks start the week flat with the FTSE 100 opening at 7,509, little changed from Friday as investors weigh up the political environment. Ahead of Boris Johnson’s likely appointment as the new prime minister tomorrow investors seem to be acting cautiously with uncertainty over a 'no-deal' Brexit set to go up a notch. Heightened tensions in the Gulf, as well as a possible interest rate ...

Shares in over-50s insurance and cruise-line operator Saga (SAGA) jumped 5% to 45p on news that US activist investor Elliott Advisors has taken a 5.1% stake in the business. Elliott is well known for pushing for change in companies including Whitbread (WTB), where it argued for the break-up of the company, resulting in the sale of Costa to Coca-Cola, and GKN which was ultimately bought by ...

Shareholders in Premier Inn owner Whitbread (WTB) only have days to decide if they want to sell some of their shares back to the company as part of a £2bn tender offer. The tender offer is a way of returning some of the proceeds from Whitbread’s £3.9bn sale of Costa Coffee to Coca-Cola earlier this year. Whitbread’s official deadline to take part in the tender offer is 1pm on 19 July ...

Shares in Premier Inn owner Whitbread (WTB) are trading sideways at £46.08 after a 1.3% drop in early morning trading following what analysts have called ‘very soft’ first quarter results. Like-for-like sales growth in the UK was down 3.7% overall – down 4.6% in its accommodation business and 2.1% in food and beverages – compared to a 0.6% decline the previous quarter. READ MORE ABOUT ...

London’s FTSE 100 dips 23 points to 7,420.5 on Wednesday with investors waiting for the latest Federal Reserve meeting with bated breath. In stark contrast, Asian shares rally after US President Donald Trump said on Twitter that he had a ‘very good’ call with Chinese President Xi Jinping, raising investors’ hopes of an amicable resolution to the US-China trade war. High-end housebuilder ...