|Bid||219.40 x 0|
|Ask||219.60 x 0|
|Day's range||214.10 - 222.10|
|52-week range||185.90 - 268.20|
|Beta (3Y monthly)||1.19|
|PE ratio (TTM)||25.31|
|Earnings date||18 Sep 2019|
|Forward dividend & yield||0.11 (4.95%)|
|1y target est||269.15|
For many investors, the main point of stock picking is to generate higher returns than the overall market. But in any...
* Q3 retail sales growth slows to 3.1% from Q2 3.6% * Spending rising at weakest pace since Q2 2016 * Department stores report biggest fall in sales since 2009 (Adds reaction) By David Milliken and Jonathan Cable LONDON, Oct 17 (Reuters) - British shoppers grew more cautious about their spending in the three months to September despite rising wages, official figures showed on Thursday, raising concerns about the health of the economy in the run-up to Brexit. Consumer spending has been the biggest driver of British economic growth since June 2016's referendum to leave the European Union, but there have been increasing signs that this is starting to soften. Looking at the third quarter as a whole, which strips out monthly volatility, quarterly sales growth held steady at 0.6% while the annual pace of expansion dropped to 3.1% from 3.6% in the second quarter, the weakest since the late 2018.
Building materials firm Grafton Group Plc warned on Thursday that its annual profit would miss expectations, as the UK construction sector grappled with uncertainties linked to Britain's looming exit from the European Union. The news follows a similar warning last week from smaller peer SIG Plc, which is battling weak demand and a dim economic outlook in the UK and Germany.
Hopes that Britain will seal a Brexit deal saw unloved London-listed companies with exposure to the domestic economy rise more than blue-chip stocks on Friday, for the first time since May, in a major reversal of fortunes. JP Morgan's UK domestic plays index that tracks about 30 UK stocks that make all or most of their revenue at home soared almost 8% on Friday for its best day since the grouping was created nearly three years ago. The index outperformed the FTSE 100 by 4.4%, the only time since May that it has performed better.
British home improvement group Kingfisher completed the line up of its top management with the appointment of Bernard Bot as its new finance chief on Wednesday. Dutch national Bot, most recently finance chief at Travelport Worldwide, a global technology platform, will take up the role on Oct. 21. Kingfisher is in the fourth year of a five-year programme that was designed to boost earnings.
I think these two FTSE 100 (INDEXFTSE:UKX) stocks could offer superior returns than buy-to-let investments.
British retailers endured their worst September since at least the mid-1990s as people spent money on entertainment instead, according to surveys that painted a muted picture of household demand ahead of Brexit. In a potential warning sign for consumer spending, which has helped the economy in the run-up to Brexit, the British Retail Consortium said total retail sales values declined 1.3% in September compared with the same month last year. A separate survey published on Monday by payment card company Barclaycard showed broader consumer spending -- which includes retail sales -- rose by a "modest" 1.6% in annual terms in September.
Building materials supplier SIG Plc warned on Monday about significantly lower profits due to a weakening economic outlook in Britain and Germany, driving its shares down as much as 26% and rattling nerves across the construction industry. British construction has slumped, weighed down by uncertainty over Britain's departure from the European Union, while the German economy has been slipping towards recession even as construction remains buoyant.
Kingfisher plc (LON:KGF) is about to trade ex-dividend in the next 3 days. You can purchase shares before the 3rd of...
(Bloomberg Opinion) -- As Britain appears to be careering toward a no-deal Brexit, Next Plc Chief Executive Simon Wolfson is trying to reassure investors that the company should come out largely unscathed. That sounds overly optimistic, but Next has less to fear than most retailers.Wolfson, a Conservative Party peer and well-known Brexit supporter, says that as long as Britain’s ports operate effectively, Next’s operations and profits won’t be significantly impacted.That’s a big if. To be sure, Next doesn’t rely heavily on the Port of Dover, widely expected to face the biggest crunch if the U.K. crashes out of the European Union without a deal. But a disorderly Brexit on Oct. 31 could be a logistical nightmare for retailers because warehouses will be full of Christmas stock, leaving them little room to stockpile other items. A no-deal scenario could also make consumers reluctant to spend, especially if it results in higher inflation, as many expect.The good news is that Next won’t be suddenly facing higher tariffs. It estimates that the U.K. government’s temporary tariff regime that will come into place in the event of a no-deal Brexit will actually reduce the duties on most clothing, saving the company 25 million pounds ($31 million) in the first year. That’s a mere rounding error for a company the size of Next, so not exactly a major boon, but still a plus. With U.K. inflation in August at its lowest rate since 2016 and wages rising, consumers have more spending power. But Next is already facing disappointing sales at the start of the autumn season, which caused shares to fall as much as 5%. The company blamed the warm September weather rather than political turmoil. Even so, it’s a worry ahead of the peak trading season.There’s no doubt that Brexit uncertainty has weighed on consumers’ willingness to spend. British home-improvement retailer Kingfisher Plc said Wednesday that it had affected sales of higher-priced items like kitchens. Overall U.K. sales of household goods fell in August compared with the same period a year earlier. But even in a worst-case scenario of a no-deal, Next is better placed than most retailers. It believes the broader political uncertainty is less likely to impact smaller-ticket purchases such as clothing. And Next has outperformed many of its rivals in what has been a cut-throat retail market. It has developed a strong online business and isn’t saddled with too many stores with long leases or in the wrong places. It’s also been quietly developing Label, through which it sells third-party fashion brands.Next’s clothing lines are now hitting the right notes. After admitting it got too trendy a couple of years ago, the company appears to have found the right balance between style and predictability.The shares have risen almost 55% this year, far outperforming both competitors and the broader FTSE 100 Index. Next trades on a forward price earnings ratio of about 13 times, at a deserved premium to Marks & Spencer Group Plc, whose shares have slumped almost 15% this year after its pricey Ocado deal and subsequent rights issue. All retailers need to worry about the danger of a hard Brexit, but Next should emerge in better shape than most.To contact the author of this story: Andrea Felsted at firstname.lastname@example.orgTo contact the editor responsible for this story: Stephanie Baker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Retailer Next has made a "disappointing" start to autumn trading which it said was down to unusually warm weather in parts of Britain, rather than shoppers holding back on buying new clothes due to uncertainty over Brexit. While it did not give figures, Next said "the warm start to September has done much more to hinder sales than the political temperature" and it has not seen any evidence that shoppers are holding back on small ticket price items due to Britain's planned exit from the European Union next month. UK retailers, including supermarkets Asda and Morrisons and home improvement group Kingfisher, have said uncertainty around Brexit was affecting their customers.
G A Chester likes the valuation and prospects of this FTSE 100 (INDEXFTSE:UKX) dividend stock, and sees a cherry on the cake.
London's main index see-sawed in early Wednesday trading as investors awaited the outcome of the U.S. Federal Reserve meeting to get a sense of how far policymakers in the world's largest economy will go to tackle a global slowdown. The Federal Reserve is set to conclude its latest policy meeting later in the session, with expectations that it will cut interest rates for the second time this year as it looks to cushion the economy from an ongoing trade war with China. "The question facing the market is how many more (rate cuts) there are to come," Markets.com analyst Neil Wilson wrote.
Britain's Kingfisher will give its new chief executive free rein to pursue whatever strategy he decides, even a possible break-up of the home improvement retailer, which has struggled to lift its earnings. Carrefour veteran Thierry Garnier is due to succeed Véronique Laury as CEO of Kingfisher, whose main businesses are B&Q and Screwfix in Britain and Castorama and Brico Depot in France, on Sept. 25. "There’s no handcuffs on Thierry's arrival into the company, he’ll take his own independent view of all moving parts of the business," chairman Andy Cosslett told reporters when asked about the possibility of breaking up the group.
Marks & Spencer's exit from the FTSE 100 underlines how times have changed since the blue-chip index was launched in 1984, when it was dominated by British companies including household names like M&S, Cadbury and House of Fraser. Home-grown talent is increasingly absent from the FTSE, now valued at $2.4 trillion, as failure to grow domestically or make the cut internationally has seen companies disappear via mergers, demotions, de-listing or privatisation. MFI Furniture was among founding members of the index that failed to survive after privately-owned IKEA entered the UK market in the 1980s.
I think these two FTSE 100 (INDEXFTSE: UKX) shares could deliver high long-term returns due to their unpopularity at the present time.
Next month's quarterly reshuffle could see some big names leave the FTSE 100 (INDEX:FTSE:UKX). Paul Summers looks at these and one likely promotion candidate.
Sharp price drops leave these FTSE 100 (INDEXFTSE: UKX) income stocks dealing on rock-bottom valuations. Time to buy, or should you avoid them at all costs, asks Royston Wild?