Hints and tips:
...It could let the currency slide, which would add to already extreme levels of inflation, or it could try to chase the US central bank in an effort to support sterling — but only if it was prepared to risk...
...As Britain’s dwindling foreign currency reserves were thrown into the bottomless pit marked sterling, Castle transformed the old ministry of labour from a Whitehall backwater in to the nation’s industrial...
...Concern over the amount of sovereign debt needed to finance the tax cuts sparked a big increase in UK government borrowing costs, and sterling’s value tumbled against the dollar....
...Indeed, Travis Perkins’ results are filled with one-off perks....
...That much is clear from the recent turmoil in the market for UK government bonds and the gyrations of sterling....
...History tells us that it took just 10 years for the dollar to remove sterling from its reserve currency role....
...Travis Perkins climbed after Merrill Lynch added the builders’ merchant to its “buy” list....
...Wage and productivity trends are intimately related, with global evidence (gathered by our Global Macro MD, Dario Perkins) that periods of overheating can generate higher productivity growth....
...Reid and her librettist, Roxie Perkins, write in the programme notes that they have been victims themselves....
...Earnings for Tuesday include Peugeot SA, Persimmon, Babcock International, Travis Perkins and Meggitt....
...“Both UK equities and sterling remain among the few assets in the ‘cheap’ camp,” he adds....
...Analysts expected consensus forecast upgrades in the mid-single digits, in spite of the headwind of dollar weakness versus sterling since the end of 2017....
...Travis Perkins was helped by speculation that the builders’ merchant could be vulnerable to interest from private equity or a sector peer. Sterling strength also lent support....
...Peter Perkins London SW11, UK...
...The first is that for anyone who earns a wage in sterling, the cost of enjoying these pleasures outside the UK is rising....
...Builders’ merchant Travis Perkins lost 3.9 per cent to £14.21 after Bernstein started coverage with an “underperform” rating and £12.40 target....
...Travis Perkins, a seller of building materials, and Berkeley Group, a property developer, were the biggest drags on the index, according to Reuters data....
...Travis Perkins, the builders’ merchant and DIY-supplier, announced like-for-like revenue up for 2016, but adjusted profit before and after taxation were down 0.3 and 2 per cent respectively....
...Builders’ merchants were helped by an in-line update from Travis Perkins, up 0.4 per cent to £16.15....
...Conversely, many of those that have done worst have something almost comically English about them: consider Greene King (down 15 per cent since Brexit), Travis Perkins (down 20 per cent) or Derwent London...
...Revenue rose 11.2 per cent to £2.7bn, but benefited from the weaker sterling, rising only 4.4 per cent on a constant currency basis....
...Travis Perkins, of SIG’s biggest UK competitors, slipped 0.9 per cent to £14.01....
...Smurfit Kappa, the international packaging company, generates significant revenue in two of the worst-performing currencies — sterling and the Mexican peso....
...That put the FTSE into a bull market with a 20 per cent rally from February lows — albeit with sterling’s slump against the dollar accounting for about 12 percentage points of that advance....
...Shearman & Sterling has poached Akin Gump Strauss Hauer & Feld M&A partner Li Chen, according to a statement from the law firm....
International Edition