FTSE 100 closes below 7,200 as pound firms and crude weakens
The FTSE 100 closed below the 7,200 level as sterling continues to strengthen against the dollar
Company
Associated British Foods PLC
LON:ABF
Associated British Foods is a diversified international food, ingredients and retail group with sales of £10.2 billion and 97,000 employees in 44 countries.
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Archive
High street issues to the fore as Debenhams, JD Sports, and Primark owner AB Foods provide updates
Week Ahead includes trading statements from Primark owner Associated British Foods, Debenhams, and JD Sports, plus Q1 numbers from Unilever, Reckitt Benckiser and Rentokil Initial
Barclays trims target price for Associated British Foods but remains confident in Primark growth prospects
The bank said it expects Primark's scope for growth to be "considerably greater" than its rival company Inditex
Investments and investor services
IGas Energy advances as Cuadrilla achieves major milestone
A look at some of the biggest risers and fallers in London on Tuesday
Investments and investor services
FTSE 100 closes in red as traders still jittery about macro issues
The pound is up 0.36% against the Euro at the time of writing, while it is up 0.07% against the US dollar
FTSE 100 consolidates gains to close higher but miners weigh
The UK blue-chip index finished over 44 points higher at 7,044, but big miners tempered gains
Investments and investor services
FTSE 100 plunges 1.23% to below 7,000 after BoE rate decision
In the currency markets, the pound is up 0.13% against the Euro, but down 0.20% against the US dollar.
Investments and investor services
FTSE 100 closes higher as trade war fears ease
The premier UK blue-chip exchange added around 45 points at 7,203, while FTSE 250 also stormed higher, up 193 points at 19,968.
AB Foods expects first-half profit to be in line with last year, held back by fall in sugar revenues
The group said Primark's half-year total sales were expected to be up 7% at constant currency rates, with like-for-like sales down 1% over the first-half but up 1% in the second quarter
FTSE 100 closes higher but below 7,300, as Wall Street heads north
London's blue-chips closed up around 45 points but below the 7,300 level
Archive
Housebuliders step up to the podium in busy week of corporate earnings
The week ahead includes a slew of full year results, including from Taylor Wimpey, Persimmon, GKN, Capita, AB Foods and WPP
Investments and investor services
Prospex Oil and Gas boosted by new discovery, Petro Matad pinched by US$16mln placing
A look at some of the top risers and fallers in London today.
Investments and investor services
FTSE 100 closes on a high but latest UK stats weigh on retailers
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
Investments and investor services
Rio Tinto and Glencore rise on Chinese stats
A look at some of the top risers and fallers in London today.
AB Foods delivers mixed Christmas trading with Primark lifting sales
Primark sales rose 9% over the Christmas trading period as the company opened more stores and increased its market share
Investments and investor services
FTSE 100 extends losing streak to four days; ABF top loser
The FTSE 100 closed lower on Thursday as there was no clear direction across global equities
Archive
Royal Mail’s Christmas performance under the microscope on Thursday
As well as Royal Mail, updates are expected from Costa Coffee owner Whitbread and Associated British Foods - the parent company of Primark
Primark well placed to take US market share, says Barclays as it upgrades parent ABF
Barclays raised its rating on ABF to ‘overweight’ from ‘equal-weight’
Investments and investor services
FTSE 100 closes lower as miners prove a drag
London’s blue-chip benchmark closed around 13 points lower on the day at 7,755
Archive
Coffee break eyed at Whitbread as retail trading updates continue to flow
Week ahead includes trading updates from Whitbread PLC, Associated British Foods PLC, Experian PLC, Royal Mail Group PLC, William Hill PLC, Burberry PLC, plus UK inflation and retail sales data
FTSE 100 pops higher again to another record close
It was another quiet day in London but also another record close
Next's Christmas surprise lifts UK retail stocks ahead of slew of festive trading updates
An unexpected rise in Next's sales over Christmas boosted shares of other UK retailers due to post similar trading statements over coming weeks
Investments and investor services
FTSE 100 closes higher; Next keeps festive cheer rolling
On a separate note, Mifid II comes into force today with the aim of increasing transparency and making everyone in the investment chain more accountable for their decisions
Brexit could hamper turnaround of Carpetright and other UK retailers, says Deutsche Bank
Deutsche Bank downgraded its rating on Carpetright but upgraded ASOS as it took a look at the European non-food retail sector
ASOS upgraded by Deutsche Bank as part of New Year review of retail sector
Deutsche Bank has identified a number of themes for the retail sector: continue to favour online clothing sellers over bricks & mortar operations; beware of "value traps" and turnaround plays
RBC warns AB Foods that even Primark isn’t immune to tough retail environment
The Canadian bank thinks ABF’s Primark business will struggle to grow like-for-like sales over the next year or two
FTSE 100 closes in positive territory but off session highs
The UK blue chip index closed around seven points higher at 7,544, below the day’s peak of 7,563
Investments and investor services
FTSE 100 finishes in the red as BoE keeps rates on hold
FTSE 100 closed down over 48 points at 7,448., while FTSE 250 shed over 55 to 20,006
Investments and investor services
Will Sports Direct International investors still be optimistic when interims come out on Thursday?
Sports Direct International, Ocado Group, PZ Cussons, and Bunzl are among the names in Thursday's agenda.
Archive
Federal Reserve Grinch to dominate among upcoming central bank rate decisions
The Week Ahead will be dominated by interest rate decisions from the US Federal Reserve, Bank of England and ECB, plus UK inflation and results from Ashtead Group, TUI, and Dixons Caphone among others
ABF expects annual retail profit growth as Primark expansion continues
Primark's expansion will continue after opening five new stores and relocating two others this year
Primark's US expansion in doubt as Morgan Stanley downgrades AB Foods
Primark's management regards its US pull-back as "fine-tuning" and remains committed to the US market, but MS now assumes no further expansion in the US in its base case
Primark remains growth engine for ABF, says Liberum
Liberum has maintained its ‘buy’ rating on ABF and raised its target price to 3,500p from 3,150p
ABF shares fall on plans to reduce size of US Primark stores as it reports full year profit growth
ABF said it would be reducing the size of three of its Primark stores in the US as it struggles to crack America's competitive retail market
Investments and investor services
All eyes on Primark as Associated British Foods releases results
AB Foods saw its shares fall after a pre-close season update as worries over cost pressures in its grocery business, but, the Primark fashion retail unit will likely be the focus for many.
FTSE 100 closes at new record high as pound firms, US stocks gain
After a record close on Friday, Monday was always likely to get off to a slow start although it has picked up as the day has worn on...
Archive
M&S and Sainsbury's take centre stage as BoE interest rate hike excitement dies down
The week ahead includes earnings from M&S, Sainsbury's, ABF, Direct Line, Wetherspoon and AstraZeneca while macro-economic announcements will be thin on the ground
Debenhams battered by Liberum rating downgrade, cautious trading update from high street peer Next
Liberum’s analysts cut their stance for Debenhams to ‘sell’ from ‘hold’ with a reduced target price of 40p, down from 58p, after concluding that the group’s “fundamentals do not appeal"
Archive
Proactive news snapshot: Ergomed , PCF Group, Synairgen …
A glance at some of the day's highlights from the Proactive Investors newswire
Imaginatik lifted by contract win with US investment management company
"We continue to believe that in order for an organisation to build and sustain a business-critical innovation ethos and competency, technology and consultancy need to be implemented in a joined-up way," said Imaginatik
Hardware & electrical equipment
Quartix appoints Daniel Mendis as new CFO
The Oxford graduate and current head of finance at AB Food’s AB Agri division will take up his new role in January
FTSE 100 steadily extends gains
There has been no news flow from FTSE 100 companies to speak of today
Investments and investor services
FTSE 100 closes firmly lower as pound strengthens; Next surges
Sterling surged past US$1.33 shortly after the Bank of England voted in favour of keeping interest rates at 0.25%, with analysts describing the move as a 'hawkish hold'
AB Foods shares weak as grocery cost pressures offset raised full year outlook on strong performance from Primark
The FTSE 100-listed group said Primark had “experienced an even lower level of markdown” in the fourth quarter, helped by favourable weather, which has further improved the group’s full year outlook
FTSE 100 closes almost 36pts up as traders buy back in
The blue chip index closed out almost 36 points higher at 7,413
Archive
Carney & Co in the crosshairs, plus key UK data and updates from Next, Morrisons and Wetherspoon
Week ahead includes latest Bank of England policy meeting, UK data on inflation, unemployment, wages and retail sales, plus corporate updates from Next, Associated British Foods, Wm Morrison Supermarkets, and JD Wetherspoon
FTSE 100 closes 40 points down as retailers weigh
The market chose to interpret Broadbent's comments as a vote for the status quo
Brokers turning more positive on Primark-owner AB Foods following yesterday's upbeat trading statement
Among them, Deutsche Bank has raised its price target for AB Foods to 3,300p, up from 3,200p previously, and repeated a ‘buy’ rating
Primark’s performance once again out of the top drawer for conglomerate AB Foods
Independent retail analyst Nick Bubb said: “Today’s trading update from the sprawling conglomerate ABF is upbeat about the ‘jewel in its crown’, namely mighty Primark”
AB Foods shares jump as underlying trading ahead of forecasts thanks to strong performance from Primark
In a trading update, the FTSE 100-listed firm said group revenue from continuing businesses was 10% ahead of the same period last year at constant currency
FTSE 100 pares losses despite sharp fall in US equities
Lancashire Holdings rose in sympathy with Novae as the Lloyd's specialist insurer sold out to AXIS Holdings
Archive
Argos to put some zip into J Sainsbury
Week ahead, J Sainsbury, Non-farm payrolls, Ocado, Imagination Technologies
FTSE 100 closes lower as election worries dent sentiment
The FTSE 100 closed down 6.56, or 0.09% to 7,519...
Fashionable upgrades lift shares in both Next and Primark-owner AB Foods
Investec Securities upped its stance for Next to ‘buy’ from ‘hold’, while raising its target price to 4,750p from 3,900p.
Fruitflow dietary supplement group Provexis gets a boost
A look at some of the biggest London-listed risers and fallers today
Footsie up ahead of close; unrest at ITV hits shares
The bulls could not quite push the top-share index above 7,400. Tomorrow they'll have a harder job with ex-div stocks lopping about 14 points off the Footsie
Archive
Osborne to stand down as an MP to concentrate on his other jobs
Theresa May's decision to dodge the televised party leader debates attracts derision while George Osborne's decision to stand down as an MP is front page news in the paper he edits
AB Foods sees profit beat forecasts driven by higher sugar prices and Primark growth
For the 24 weeks to March 4, AB Foods reported a 35% jump in adjusted pre-tax profit to £624mln, as revenue rose to £7.296bn, up 7% at constant currency, and 19% at actual rates
FTSE 100 closes down as May wins MP backing for election
Although it has been an up and down day for the Footsie, it has rarely strayed far from last night's closing level
Iconic cereal Weetabix spooned up by US giant Post Holdings
Post is the third largest cereal company in the US and will add Weetabix to its brands
Archive
Day ahead: Retailers at opposite ends of shopping spectrum in focus
Luxury group Burberry PLC will deliver a pre-close season trading update, while Primark discount clothing chain owner Associated British Foods PLC delivers its first-half results
ABF misses out on Weetabix takeover as cereal brand gobbled up by US firm Post Holdings
Associated British Foods was said to be among the potential bidders for Britain's iconic cereal firm Weetabix
FTSE 100 down 164 points on snap election news; pound hits 10-week high
The UK prime minister has announced a snap general election for 8 June
FTSE 100 seen cautious after mixed US, Asian session on Korea worries
Spread betting firm London Capital Group expects the FTSE 100 index to open around 10 points lower at 7,317, having shed 21.4 points last Thursday
Archive
Primark to keep the ball rolling nicely at Associated British Foods
Week ahead; Associated British Foods , Sky , Unilever Burberry, Reckitt Benckiser...
Jefferies gives AB Foods a boost with an upgrade to 'buy' ahead of next week's interims
The broker's analysts raised their rating for the Primark discount fashion chain to Silver Spoon sugar conglomerate from ‘hold’ with an increased target price of 3,100p, up from 2,450p previously
Investments and investor services
FTSE 100 closes 21 points down ahead of Easter weekend
Yesterday the FTSE 100 briefly rose above 7,400 ... today, a sub-7,300 level beckons
Investments and investor services
FTSE 100 ends little changed as UK lines up on Brexit grid
The druggies and miners were on offer early on – although the movements were barely perceptible on a lacklustre Monday morning.
AB Foods maintains its earnings guidance, with Primark seeing solid sales growth, although margins remain a concern
In a trading update, the FTSE 100-listed firm said that for the half year it expects “excellent progress in adjusted operating profit and adjusted earnings per share for the group.”
Investments and investor services
FTSE 100 rises as rally in Unilever and Bunzl offset slump in motor insurers
At 3.33pm, the index of blue-chip shares was up just over 14 points at 7,257
Archive
Week ahead: ITV set to broadcast results as quantity set to rule over quality
Having seen the big drugs, oils, and banking sectors dominate over the past few weeks, investors will have less FTSE 100 results to digest in the coming week.
Investments and investor services
FTSE 100 ends higher as food groups power gains on takeover battle
Around 3.15pm, the UK blue chip index was up over 21 points at 7,299, not far from the day’s peak of 7,307, and well above the day’s low of 7,253.
Prudential shares in demand; Metal Tiger and Falcon Oil & Gas strong gainers
Some of London's largest risers and fallers around 2.30pm included insurer Prudential, and small caps Metal Tiger and Falcon Oil & Gas ...
FTSE 100 closes higher with banks betting on March US rate hike
FTSE 100 shares closed higher on Wednesday, led by banking shares which teamed up with their Wall Street brethren to cheer on what may be a US rate hike as soon as March
Associated British Foods boosted by Morgan Stanley upgrade
The bank’s analysts have upped their stance on ABF to 'overweight' from 'equal-weight' with an increased price target of 2,800p, up from 2,650p.
Investments and investor services
FTSE 100 closes higher as mining stocks lap up higher copper prices
FTSE 100 shares closed higher on Monday as buoyant mining stocks responded to a strike in Chile which boosted copper prices
FTSE 100 shares close lower, tracking Dow and Donald
FTSE 100 shares closed lower on Tuesday in sympathy with declines of up to 160 points on Wall Street’s DJIA as the fallout of US President Donald Trump’s first week in office continued to take its toll
Associated British Foods “sweeter than it seems”, says Deutsche Bank
Following AB Foods’ trading update yesterday, the German banking giant reiterated its buy recommendation and 3,200p target price
Snow worries? How the High Street has fared over the Christmas trading period
With an avalanche of updates to trudge through – not least a blizzard of them today – the actual outcome has not sent as many shivers through the City as expected.
Primark and sugar dress up sweet end to 2016 for AB Foods
Total group revenue for the 16 weeks to 7 January was 10% ahead of the same period last year
FTSE 100 shares hit 11th successive record high as sterling dips
FTSE 100 shares did it again on Thursday – the 11th successive record high close – as turbulence in sterling finally gave in to a further steady decline and helped push stocks higher. All except retailers, that is
Day ahead: Christmas retail merry-go-round continues with M&S, Primark-owner AB Foods, and Tesco
After Next kicked off the sector Christmas updates with a profit warning last week, shareholders should be more nervous on what M&S and Primark will deliver.
FTSE 100 hits fresh record high as sterling sags
FTSE 100 stocks closed at a record high on Monday, extending from its feat last week, as it marked the eighth successive record peak, largely thanks to a weakening pound
Week ahead: Blizzard of trading updates to show the icy front on UK high streets
Given Next’s disappointing update this week, news from Marks and Spencer and Primark-owner Associated British Foods could send the most shivers through the sector.
FTSE 100 in positive territory, Panmure spike a mystery
Footsie was expected to hit another high today, but it has not happened yet
Woolly jumper needed: Cold wind blows through clothing sector after Next warns on profits
Next's latest gloomy trading update wiped more than 10% off a share price that had already slumped by a third in 2016.
Broker comment weighs on specialty chemicals company Elementis
Elementis shares fell nearly 4% after German bank Berenberg cut its rating to ‘hold’ from ‘buy’, with the downgrade largely made on a valuation basis.
FTSE 100 closes firmer, small-caps mark fresh record high, but retailers drop
FTSE 100 stocks closed firmer on Wednesday but a grim outlook for 2017 from Next plc left retailer shares in the bargain bucket
Retailers under pressure as Deutsche Bank cuts its stance on three high street names
The bank cut Next to 'hold' from ' buy', and reduced bicycles to car parts retailer Halfords Group and department stores group Debenhams both to 'sell' from 'hold'
Archive
Brokers: 25% upside as well as big yield at Imperial Brands
A round-up of some of today's broker commentary
Weather and competition are main risks to Next says UBS
UBS rates Next as a ‘buy’ and its £58.50 target suggests some 15% upside to the UK retailer's current share price.
Risers and fallers: Scotgold shines as its first pour offer excitesinvestors
Some of the main news-driven share price changes at 3.45pm
Primark expansion drives revenue growth for AB Foods
Primark's new store expansion, better margins for food products and foreign exchange factors were all among the talking points for Associated British Foods.
Investments and investor services
FTSE 100 shares end firmer as Clinton seen ahead
FTSE 100 shares ended firmer on Tuesday as a last-minute rush to buy framed a session of cautious optimism in a victory for Hillary Clinton in the US presidential election
FTSE 100 ends month lower despite WPP’s surge
FTSE 100 shares ended lower on Monday, despite a valiant surge from advertising behemoth WPP
Investments and investor services
London office market under threat from 'Brexit', says Deutsche
Broker sees possible "material moves" out of London after referendum
UK stocks end lower on falling oil prices, sterling
London stocks end lower on Tuesday, pushed south by falling oil prices and a weaker sterling.