|Bid||12.30 x 0|
|Ask||12.58 x 0|
|Day's range||12.00 - 12.84|
|52-week range||8.83 - 28.60|
|Beta (5Y monthly)||0.60|
|PE ratio (TTM)||N/A|
|Earnings date||10 Mar 2020 - 16 Mar 2020|
|Forward dividend & yield||0.01 (11.11%)|
|Ex-dividend date||18 Apr 2019|
|1y target est||24.00|
Companies that can barely make their dividend payments are rarely doing anyone a favour. Making these payments to shareholders can distract management and prev8230;
British car dealership Lookers said on Friday its top boss and operations chief will step down immediately after weak sales led to a second profit warning in less than four months, sending its shares down as much as 30% and rattling peers. The London-listed firm which sells new and used vehicles made by multiple manufacturers, expects annual underlying profit to fall by more than two-thirds as the UK car market struggles with dwindling consumer confidence and margin pressures. As much as 60 million pounds was wiped from Lookers' stock market value, which fell to 136 million pounds as its shares tumbled.
Britain's markets watchdog has proposed banning auto dealers and brokers from receiving commission linked to interest rates on loans used to finance car purchases, a step it said would save consumers 165 million pounds ($208.4 million) annually. The Financial Conduct Authority (FCA) said some motor finance brokers receive commission linked to the interest rate that customers pay. "The broker can set that rate and the FCA found that the widespread use of this type of commission creates an incentive for brokers to act against customers' interests," the FCA said in a statement on Tuesday.
London-listed companies with exposure to the domestic economy retreated on Monday as last week's euphoric optimism gave way to doubts over whether a timely Brexit deal could be clinched, while cybersecurity firm Sophos surged 36% after a buyout offer. The FTSE 250 ended slightly off the day's lows but still shed 0.6%, handing back part of the more than 4% gain it had recorded in the previous session which was its best in nearly a decade. JP Morgan's UK domestic plays index, tracking about 30 UK stocks that make all or most of their revenue at home, pulled back nearly 1%.
SMI down 0.4%, DAX down 0.1 * BAML starts coverage of airlines: IAG, Wizz, RyanAir, Air France top picks * Ferguson top gainer on FTSE 100 after profit beat * Greggs sinks more than 8% after trading update Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. BAML analysts turn "overweight" on the sector saying the sector has been priced for an outright Euro area recession, which we think is unlikely.
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.
British auto dealer Pendragon cancelled its dividend and issued a dismal forecast for the year after deep price cuts to offload used car inventory pushed it to a first-half loss and sent shares down 13% on Wednesday. In the latest abrupt management change this year, the car dealership chain named a new executive chairman to oversee the two senior executives running the company in the absence of a CEO and said its non-executive chairman would step down. The company, which operates the Evans Halshaw, Stratstone, Quickco and Car Store brands, has already seen two CEOs leave this year - the last after just three months in the position.
In the latest abrupt management change this year, the car dealership chain named a new executive chairman to oversee the two senior executives running the company in the absence of a CEO and said its non-executive chairman would step down. The company, which operates the Evans Halshaw, Stratstone, Quickco and Car Store brands, has already seen two CEOs leave this year - the last after just three months in the position. It has also felt the pain of the wider British car industry, which has seen vehicle sales fall amid uncertainty over Britain's impending exit from the European Union, stricter emissions regulations and a shift towards sales of electric or hybrid cars.
Pendragon PLC (“Pendragon” or the “Company”) Interim Results Date The Company confirms that its results for six months ended 30 June 2019 will be released on Wednesday 18 September 2019 . Enquiries Mark ...
British car dealership Lookers warned on full-year profit on Friday, saying trading was increasingly challenging and prompting a 30% fall it its already weak shares. The British car industry has been hit by lower vehicle sales amid uncertainty caused by stricter emissions regulations, Britain's impending exit from the European Union and a shift towards sales of electric or hybrid cars. "The more recent challenging conditions are likely to continue into H2, exacerbated by continued weakness in consumer confidence in light of wider political and economic uncertainty, and further pressure on used car margins," Lookers said.
Mark Herbert’s background was in selling new cars but the board wanted to focus on used cars. Photograph: Andrew Matthews/PAThe boss of Pendragon, one of Britain’s biggest car dealers, is leaving less than three months into the job after clashing with the board over its focus on the used-car market. Mark Herbert was appointed as chief executive on 1 April and tasked with carrying out a strategic review of the business in an effort to return it to profitability in a tough market.But on Thursday the company, which trades under the Evans Halshaw, Stratstone and Car Store brands, said Herbert will leave “by mutual agreement” on 30 June.“As a result of the change to the management team, it is envisaged that the strategic update originally scheduled for late September will now be postponed until the appointment of a new chief executive officer is concluded,” Pendragon said in the statement.It is understood that Herbert, the former boss of Jardine Motors Group UK who most recently ran a pan-Asian retailer as part of Jardine Matheson, clashed with Pendragon’s board over strategy. Herbert’s background is in new cars and the franchised market, while the board wants to focus on used cars and online selling through its Car Store website.Until a new chief executive is found, Martin Casha, the longstanding chief operating officer, and Mark Willis, the new chief financial officer who joined from Ten Entertainment in April, will run the business, reporting to Chris Chambers, the chairman.Analysts at Liberum said: “At the time of appointment, it was clear that the new CEO’s role was not about a wholesale review of the strategy … We think it unlikely that a CEO from a listed peer would want to make the move, particularly without a mandate to review the whole strategy.”Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskPendragon declined to say whether Herbert would receive a payoff. He joined without a probation period.The firm’s performance has worsened due to falling prices in the used-car market. Two weeks ago, Pendragon shares crashed after it warned it would be “significantly loss-making” in the first half and predicted a small pre-tax loss for 2019 as a whole. Analysts had been expecting a profit of almost £35m.Like other dealers, the company, which sells all the main marques, has been forced to slash used-car prices to shift excess stock. It has 177 franchised dealerships and has opened 32 stores that sell only used cars.
Pendragon, which operates the Evans Halshaw, Stratstone and Quickco brands, said that a strategic update scheduled to be announced in September will be delayed until a new CEO is named. Herbert has stepped down by mutual agreement and will leave the company on June 30, the company said in a statement. Shares in the company, which have fallen about 37 percent since Herbert took over as CEO on April 1, fell another 4% in early trading.
London's FTSE 100 ended lower on Thursday as initial investor optimism gave way to uncertainty amid conflicting reports on whether Washington and Beijing would commit to a trade truce, while Glencore skidded after a mine collapse in Congo. The FTSE 100 closed 0.2% lower, after slipping as much as 0.5%. Markets had initially welcomed signs of progress in the trade talks after the South China Morning Post, citing sources, said the United States and China had agreed to a truce before leaders of the two nations meet at the G20 summit.
Pendragon Plc's Chief Executive Mark Herbert is leaving the car dealership after only three months in charge during which the company warned it would make a loss this year. Pendragon, which operates the Evans Halshaw, Stratstone and Quickco brands, said that a strategic update scheduled to be announced in September will be delayed until a new CEO is named. Herbert has stepped down by mutual agreement and will leave the company on June 30, the company said in a statement.