Home | Links | Contact Us | Press | Post a job | Bookmark
Search Available Jobs:
Home Latest press releases Allied-suffers-wine-hangover


 Phoenix Business Sales Officer - Professional Banking
Job Description: Arizona Business Banking is currently seeking a BUSINESS SALES OFFICER for their P...


 Customer Service Call Center to $27k
Job Description: Terrific opportunity for a professional individual ready to move ahead in a great ...


 Teller - Part time
  ?Our basic strength lies in the people who work here.? -Samuel C. Johnson The words of our ...


 Operations Manager - ( H10867)
POSITION SUMMARY: The Operations Manager oversees, directs, plans and coordinates the activities of ...


 Prior Authorization Rep to $26k+ - Health care
Job Description: Rewarding position as prior authorization rep for stable, dynamic organization. T...


 Bank Associate
The Kforce OnStaff Group is seeking a Bank Associate of Sales and Service to gain knowledge of the ...


 Teller
The position of Teller I includes being is responsible for performing routine and intermediate ...


 Client Service Specialists needed for FORTUNE 500 company!
Don't miss out on this excellent opportunity to work for a TOP LEADER in the Mortgage Industry!...


 Account Executive to $21k+ commission
Job Description: Company seeks an account executive to doing inbound and outbound calling and ...


 Part Time Sales
 DESCRIPTION Dynamic Financial Services organization in NW Phoenix is seeking Part Time Sales R...


 Allied suffers wine hangover

As the wider market moved higher in the wake of the Federal Reserve's latest rate cut, Allied Domecq was hit by heavy selling on fears that it could be become embroiled in another bidding war for an antipodean wine company.

Allied, maker of Beefeater Gin and Ballantine's whisky, recently won control of New Zealand's biggest wine maker, Montana, for $450m (£304m) after an acrimonious six-month battle with Australian brewer Lion Nathan.

At the time Allied was accused of overpaying for Montana and yesterday nervous investors sold the stock down 20p to 340p on fears it might make the same mistake this time with Australian wine group Petaluma.

This week Lion Nathan launched an A$222m (£75m) bid for control of the company. But during trading in Aus tralia overnight Petaluma shares surged as Goldman Sachs, Allied's financial adviser, started bidding for stock at levels above the offer price.

Allied said it was aware Lion had made an offer and Goldman was buying stock but added: "I can say at this time that their [Goldman] buying being linked with us is speculation only."

Meanwhile, the FTSE 100 fought back from a 100-point deficit to close 49.5 points higher at 4,881.8. An early markdown on the back of a profits warning from Canadian telecoms equipment maker Nortel gave way to brighter sentiment as Wall Street followed Tuesday's confident performance with further gains on the back of stronger than expected US non-manufacturing business numbers.

An upbeat trading statement from Misys, up 56.25p to 217.25p, and a fully underwritten fund-raising exercise by Colt Telecom, 21p better at 83p, underpinned sentiment. Across the market more than 2bn shares changed hands.

The banking sector made much of the running, with mortgage bank Northern Rock up 50.5p to 578.5p, continuing to benefit from Tuesday's trading statement, and HBOS rising 35p to 722p after JP Morgan said that the stock was trading at an unwarranted discount to its peers.

Unilever, the Anglo-Dutch consumer goods company, was also in demand after Deutsche Bank advised clients to buy. The broker believes the shares, which have fallen 9.3% since its disappointing pre-close update on September 19, are good value and Unilever will achieve its target of double-digit earnings growth this year. Unilever gained 7.5p to 515p.

But Vodafone fell back 0.25p to 149.5p as investors fretted over today's third-quarter subscriber figures. Deutsche Bank, one of Vodafone's biggest fans, forecast a fall in net additions from 3.04m to 2.4m. However, it said this was already factored into its forecasts and the average revenue per user trend would be more important.

The FTSE 250 ended 31.5 points higher at 5,057.5 with Carphone Warehouse rising 12.5p to 79.5p as bullish noises from the company sent short sellers scrambling to cover their positions. Over the past week Carphone shares have fallen sharply on speculation that it is about to issue a gloomy trading statement. However, a spokesman for the company said nothing could be further from the truth. "We are not putting out a trading statement because the only thing we could say is that the business continues to grow in line with expectations."

Analysts expect Carphone to generate £1.34bn of revenue this year and between £84m and £88m of earnings before interest, tax, depreciation and amortisation.

FKI, the engineer turned supply chain specialist, had a rough session amid renewed rumours that another profits warning was on the way. Its cause was not helped by downgrade from Deutsche Bank in a wide-ranging review of the European engineering sector.

Noting FKI's exposure to the US - 63% of sales last year - Deutsche cut its rating from buy to market perform and said there was a real risk that FKI would fail to achieve its profits forecast. At its July annual meeting the company warned that falling orders meant profits for the current year would be flat. FKI closed 6p weaker at 122.5p

Deutsche also adopted a more cautious stance on Charter, the highly indebted engineering conglomerate, down 20.5p to 98.5p, and Tomkins, 11.75p lower at 141.25p, because of their exposure to the slowing US economy.

Engineers were not the only stocks under pressure. Stockbrokers were on offer, too, after Charles Stanley, off 40p to 147.5p, warned that first-half profits would fall short of expectations. The news reverber ated round the sector, sending Collins Stewart down 20p to 286.5p and causing Teather & Greenwood, which many traders feel has a bloated cost base, to lose 11.5p to 64.5p.

Among the small caps Staffware, the business software group, advanced 55p to 210p on the back of a positive trading update. After a profits warning in July and disappointing interim figures in September, many investors questioned whether the loss-making company could meet its revenue forecasts. They were therefore surprised to learn that third-quarter sales had risen 7% year on year and its cash balance had grown to £14m from £12.9m.

Cedar, the software services group which issued a near-fatal profits warning a few weeks back, gained 6.25p to 19.5p. Traders attributed the move to bulletin board gossip about a bid for the company, institutional demand and rumours that Cedar is close to appointing a new broker to replace Merrill Lynch.

Following thewarning's appearance, Merrill slapped a "reduce" recommendation on Cedar and voiced concerns about its ability to meet working capital requirements.


Related jobs
  Ultrasound Tech
Overview : Shift: Days; Shift Hours: M-F dayshift + share of call (40 hours/week) Qualifications : The position of Ultrasound Technologist must be registry eligible ...
  Ultrasound Technologist
Overview : Banner Health, Arizona's largest healthcare provider has an opportunity for an experienced Ultrasound Technologist for our Page facility. This is a full time ...
  Inv Cardiovascular Tech
Overview : Days: 12hr day/36 hrs week shift 7:00am - 7:30pm Responsibilities : Responsible for assisting the physicians in the scrub role during diagnostic and ...
  Radiology Reading Room Asst
Overview : This position is responsible for maintaining order in the radiology reading room in order to facilitate the timely and efficient review and report dictation ...
  Medical Radiographer
Overview : This position is Friday, Saturday and Sunday from 7PM - 7AM. Qualifications : Requires certification by the American Registry of Radiologic Technologist ...
  Diagnostic Pediatric Cardiac Sonographer
Arizona Pediatric Cardiology C...
  Radiology Technologist
Conducts high quality radiographic examinations using ingenuity, initiative and independent judgment of patients in a safe and timely manner, as ordered by physicians. R...
  (Travel) RDMS, Some Vascular (Great Pay) $$$$$$$$
(Travel) Gen/Some Vascular  Sonographer for AZ***************$500.00 SIGN ON BONUS***************** We have an excellent travel Sonographer assignment position ...
  Echocardiograph Technologist
Overview : Echocardiograph Technologist position for Cardiopulmonary dept. Varied hours, including weekends and holidays. Responsibilities : Must perform competently ...
  Special Proc. Tech./Cath Lab
Overview : Banner Good Sam is a MAGNET recognized hospital Responsible for operation of radiologic equipment and maintaining excellence in radiographic imaging for the ...

Related press releases
Low clothes prices help keep inflation in check
Interest rates are set to remain at a 38-year low for the rest of the year as inflation slipped lower in August, official figures showed today. In the 12 months to Augus...
Save me from spendthrift girlfriends
Andy Cameron Age: 30 Lives in: Aberdeen Occupation: Long-distance lorry driver Earns: ?20,000 Mortgage: None Debts: None Investments: Saves ?100 a week P...
Pay off the loan as soon as you can
Paying off the mortgage as soon as possible is the top financial goal for nearly half of today's homebuyers, according to a new report from the Woolwich. Mortgage rates...
Enter the comfort zone
Jobs & Money reader Robert James is keen to pay off his remaining £72,000 mortgage as early as possible. He has reduced his loan from £84,000 over the past ...
Fixed-rate deals getting cheaper
Interest rates stayed steady this month but fixed-rate mortgage deals are continuing to come down in price. There's never been a better time to fix your monthly mortgage...
Is my life insurance premium too high?
Q I have just been accepted for life and critical illness insurance to cover a mortgage. But I am not happy with the premium, which has been almost doubled from the origi...
Low times in high office
When sober-suited Colin Ellar, deputy leader of Hounslow borough council in west London, leaves the executive suite at the civic centre after a taxing day, he goes home -...
Make your money last the distance
Low annuity rates, volatile stock markets and reduced benefits from pension funds have all contributed to a rather gloomy outlook for people planning their retirement. ...
The worst policy ever sold?
The traffic lights are turning redder than ever for Britain's army of endowment mortgage holders. Norwich Union admitted this week that 75% of its endowment plan custom...
Will I be credit-blacklisted?
Q I was recently made redundant and I fell into arrears with my mortgage and forgot to pay a couple of bills because of the stress. Does this mean I will be credit-blackl...
0.344

Archive: All jobs - Links

Copyright (c)2006 Efbf.org/jobs - All rights reserved