Latest News
German consumer prices in line in March
German consumer prices rose 0. 8% in March from the previous month, in line with the initial estimate and expectations, according to data from Destatis.
Europe open: Stocks in the red as luxury goods stocks slide
European stocks edged lower in early trade as investors sifted through earnings, with luxury stocks under pressure.
Asos beats forecasts thanks to US surge and price investment
Half-year sales and profits from Asos were comfortably stronger than forecast as the online fashion retailer said its pricing investments and high flow of new clothes styles has improved the proportion of full price sales and reduced its reliance on promotions.
Goldman downgrades AstraZeneca on full valuation
Goldman Sachs downgraded AstraZeneca to ‘sell’ from ‘neutral’ and cut the price target to 3,700p from 4,400p saying current long-term estimates are overly optimistic.
Sports Direct buys Oxford Street property
Sports Direct looked set to expand its West End footprint on Tuesday, acquiring the freehold property at 161-167 Oxford Street and 36 Poland Street from Aviva Investors nominee CIP Property.
Ultra Electronics wins $9m Raytheon contract
Ultra Electronics Holdings has won a $9. 3m (£6. 53m) contract from Raytheon Integrated Defense Systems for the supply of its RiQ Ruggedized Networking Switch (RIQ) for integration into the Patriot air and missile defense system.
London pre-open: Stocks seen lower ahead of inflation figures
London stocks were set to open a little lower on Tuesday as investors looked to the release of UK inflation figures.
Rogers out, Paul in at Costa Coffee
FTSE 100 hospitality group Whitbread announced the departure of Christopher Rogers on Tuesday, as managing director of coffee shop chain Costa and executive director on the firm’s board.
Tuesday newspaper round-up: Italy bank fund, Port Talbot, Goldman Sachs
Italy’s strongest banks, insurers and asset managers have agreed to create a €5bn backstop fund to bail out weaker lenders in an effort to calm growing investor concern about the stability of the banking sector of the eurozone’s third-largest economy. The rescue fund, announced by Prime Minister Matteo Renzi after a six-hour meeting of financiers, regulators and ministers in Rome, comes after a plunge in the value of Italian bank shares this year on widening concerns about the effect of €360bn of non-performing loans on Italy’s financial stability.
US, Europe drive Michael Page Q1 gross profits
Recruitment firm Michael Page said first quarter gross profit grew 3. 6% to £142. 4m in constant currencies, despite the timing of Easter and the challenging market conditions in several of its larger markets, including Greater China, the UK and Brazil.
Whitbread orders new coffee MD, Tesco sells part of Asian investment
London open On Tuesday the FTSE 100 is predicted to fall 16 points from its slightly lower close at 6,200. 12 on the previous day.