Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksALY.L Share News (ALY)

  • There is currently no data for ALY

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

London afternoon: Weak retailers offset strong miners

Thu, 31st Mar 2011 14:41

Footsie is stuck in neutral, though the flat performance is largely down to strong demand for mining stocks. Gold miner Randgold Resrouces is the star performer in the mining sector after reporting a 55 increase in its attributable mineral resources and reserves for the year to December 2010. The company's shares have been under a bit of a cloud since December of last year when political unrest broke out in the Ivory Coast. However, hopes have risen recently that the situation in the African country may be close to resolving itself after forces loyal to Alassane Ouattara seized the major cocoa port of San Pedro last night. Ouattara was adjudged by United Nations observers to have won the presidential election in November but incumbent president Laurent Gbagbo refused to step down, sparking armed conflicts between the rival factions.Tour operator TUI Travel is higher after saying underlying trading has been "satisfactory" during the last six months. Like Thomas Cook on Tuesday, it has not changed its estimate of the cost of trouble in North Africa. Uprisings in Egypt and Tunisia are expected to have cost the company between £25m and £30m in the second quarter, as flagged last month.Oil services company Petrofac has won a contract worth more than $240m (£149m) with Shell to develop facilities in the Majnoon field, Southern Iraq.London Stock Exchange(LSE) moves ahead after saying it grew average daily value traded in UK equities by 2% over the past year and is finishing the period on a strong note.Food ingredients firm Tate & Lyle is higher after it said that operating performance in the year to end-March was in line with market expectations, save for the company receiving a late boost to co-product income from the rise in corn prices. The group has seen global volume growth in Speciality Food Ingredients across all the major product categories through the year. Cash and carry group Booker saw a healthy rise in sales in the year to 25 March, but predicted economic conditions would remain challenging in 2011. Total sales were up by 6.4%, with like-for-like sales up by 4.4%. Fresh fruit and vegetable sales did particularly well, climbing by 52%. Retailers are having a hard time today after dismal consumer confidence data. GfK NOP's monthly consumer confidence index remained at- 28 in March having edged up to that level in February from -29 the previous month.Dixons Retail is having another bad day, as are department store group Debenhams, floor coverings seller Carpetright, trendy clothes retailer SuperGroup, sportswear group Sports Direct and homewares seller Dunelm.Mothercare falls back after the babycare retailer saw margins squeezed in the quarter to 26 March after slashing prices to clear its autumn and winter stock amid a weak consumer environment. Total sales were up by 10.2% from the same period the previous year, with international operations leading the way. Sales in Britain were up by 4.7%, though they were down by 2.4% on a like-for-like basis, which excludes the wholesale business.Elsewhere in retail, fashion and home furnishings group Laura Ashley is down more than 12% after it said full year pre-tax profit more than doubled on improved demand from its stores and franchise business but warned that trading since February has deteriorated as UK consumer spending weakens. Contract caterer Compass's good start to the new financial year has continued through the six-month period, leaving it comfortable with forecasts for the full-year. In a statement ahead of interims on 18 May, the firm said constant currency revenue growth, including the impact of acquisitions, was about 9.5%, with organic growth at 5.5%. There's also been a "slight" increase in like for like revenue against the weaker comparatives of the first half of 2010. Margin has improved by about 20 basis points.Energy supplier Scottish and Southern Energy (SSE) is on track to report underlying profit before tax for the full year in line with the consensus of analysts' forecasts, which currently stands at £1,301m. The company, which is about to enter its close period on Friday prior to publication of full year results on 20 May, said it expects to deliver a full-year dividend increase of at least 2% more than Retail Price Index inflation, and of at least 74.5 pence per share.
More News
23 Mar 2020 11:39

Insolvent Laura Ashley To Permanently Shut 70 Stores And Axe 721 Jobs

Insolvent Laura Ashley To Permanently Shut 70 Stores And Axe 721 Jobs

Read more
23 Mar 2020 10:26

Laura Ashley shuts 70 stores

(Sharecast News) - Laura Ashley will close 70 of its UK stores on Monday, putting more than 700 jobs at risk, as administrators start trying to find a buyer for the retailer.

Read more
20 Mar 2020 08:55

UPDATE 2-Hotel Chocolat agrees share issue ahead of coronavirus hit

(Updates to reflect increased size of placement)March 20 (Reuters) - British chocolatier Hotel Chocolat said on Friday it had agreed to issue new shares to inject 22 million pounds into the business, as it faces having to close its cafe and store ...

Read more
20 Mar 2020 08:55

UPDATE 1-Hotel Chocolat agrees share issue ahead of coronavirus hit

(Adds details from statement, background)March 20 (Reuters) - British chocolatier Hotel Chocolat said on Friday it had agreed an issue of new shares that would inject 20 million pound into the business, as it faces having to close its cafe and sto...

Read more
17 Mar 2020 11:27

UPDATE 2-UK retailer Laura Ashley succumbs as virus hits, shares slump

* Laura Ashley to appoint administrators* Says is in advanced talks for third-party debt funding* Shares will be suspended from trading (Adds shareholder comment, updates share move)By Tanishaa NadkarMarch 17 (Reuters) - Laura Ashley said on Tuesday...

Read more
17 Mar 2020 11:00

Virus Claims Former British Icon As Laura Ashley Enters Administration

Virus Claims Former British Icon As Laura Ashley Enters Administration

Read more
16 Mar 2020 13:43

Laura Ashley seeks ?15m lifeline despite sales jump

(Sharecast News) - Home furnishing retailer Laura Ashley said crucial funding discussions were still ongoing, as it posted a 28% jump in sales but warned of a possible hit going forward from the coronavirus outbreak.

Read more
16 Mar 2020 11:51

Laura Ashley In Financing Talks, To "Consider All Appropriate Options"

Laura Ashley In Financing Talks, To "Consider All Appropriate Options"

Read more
16 Mar 2020 11:10

UK WINNERS & LOSERS SUMMARY: Sainsbury Is Lonely Riser On Broker Note

UK WINNERS & LOSERS SUMMARY: Sainsbury Is Lonely Riser On Broker Note

Read more
16 Mar 2020 08:54

UPDATE 1-Laura Ashley says will need further funding boost

(Adds background on company, details from today's statement)March 16 (Reuters) - British retailer Laura Ashley warned on Monday it would need additional funding to meet its ongoing working capital requirements, just a month after saying it has acc...

Read more
16 Mar 2020 07:34

Laura Ashley says will need further funding boost

March 16 (Reuters) - British retailer Laura Ashley warned on Monday that it will need additional funding to meet its ongoing working capital requirements, just a month after saying it has access to sufficient cash to meet its immediate needs.The ...

Read more
27 Feb 2020 17:56

EXECUTIVE CHANGE SUMMARY: Burford Capital Adds Independent Directors

EXECUTIVE CHANGE SUMMARY: Burford Capital Adds Independent Directors

Read more
20 Feb 2020 11:09

Laura Ashley Has "Disappointing" Interims; Accelerates Change At Top

Laura Ashley Has "Disappointing" Interims; Accelerates Change At Top

Read more
20 Feb 2020 07:31

Laura Ashley first half loss jumps to 4 mln pounds

Feb 20 (Reuters) - Troubled clothing and furnishing retailer Laura Ashley saw pretax losses more than double in the first half of the year, hurt by weak demand for its home furnishing business and disruption from a change in its Japanese franchis...

Read more
19 Feb 2020 13:44

UPDATE 2-Laura Ashley calms concerns with funding agreement

(Recasts, adds shareholder quotes, updates shares)By Tanishaa NadkarFeb 19 (Reuters) - Clothing and furnishing retailer Laura Ashley calmed concerns over its working capital, saying it has access to sufficient funds to meet immediate funding needs...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.