In the Spotlight: Brent Crude, Kingfisher, Mattel and Hasbro, Skymark Airlines
December 22, 2014 8:56 am
What’s Up
Brent Crude – Brent Crude is up by 2% this morning, boosting energy shares across the FTSE. Tullow Oil, always sensitive to oil fluctuations, is currently up by more than 2%, as are both BP and RDS. The FTSE itself is currently up by around 0.93%, while the DAX is up by 0.73% and the CAC by 1.06%.
Kingfisher – Kingfisher plc. is up by around 2% this morning after agreeing to sell 70% of its B&Q China business to Beijing-based Wumei Holdings. The last few months have seen some significant changes to the company; in October, B&Q announced its intention to shutter a significant number of its UK stores (with competitor Home Retail Group confirming similar plans). Similarly, in January, Kingfisher will be seeing further change in the form of a new CEO; Sir Ian Cheshire is to step down and will be replaced by Veronique Laury, currently the head of Kingfisher-owned French company Castorama.
What’s Down
Mattel and Hasbro – Meanwhile, trouble in Toyland? Both Mattel and Hasbro were amongst Friday’s biggest losers on the NASDAQ, after weak industry sales saw analysts downgrade share price targets for the two firms. Mattel stock closed down by 6.41% on Friday, with Hasbro just behind at -6.39%.
Skymark Airlines – Reuters is reporting that Airbus is set to sue Japan’s Skymark Airlines for breach of contract. The Japanese budget carrier had a contract for A380s terminated five months ago after the airline failed to meet its payment schedule. The announcement that Airbus will be taking Skymark to court in the UK caused the latter’s share price to close down by 16.49% on the Nikkei this morning; Airbus shares are currently slightly up, by 0.2%.
What’s Up
Brent Crude – Brent Crude is up by 2% this morning, boosting energy shares across the FTSE. Tullow Oil, always sensitive to oil fluctuations, is currently up by more than 2%, as are both BP and RDS. The FTSE itself is currently up by around 0.93%, while the DAX is up by 0.73% and the CAC by 1.06%.
Kingfisher – Kingfisher plc. is up by around 2% this morning after agreeing to sell 70% of its B&Q China business to Beijing-based Wumei Holdings. The last few months have seen some significant changes to the company; in October, B&Q announced its intention to shutter a significant number of its UK stores (with competitor Home Retail Group confirming similar plans). Similarly, in January, Kingfisher will be seeing further change in the form of a new CEO; Sir Ian Cheshire is to step down and will be replaced by Veronique Laury, currently the head of Kingfisher-owned French company Castorama.
What’s Down
Mattel and Hasbro – Meanwhile, trouble in Toyland? Both Mattel and Hasbro were amongst Friday’s biggest losers on the NASDAQ, after weak industry sales saw analysts downgrade share price targets for the two firms. Mattel stock closed down by 6.41% on Friday, with Hasbro just behind at -6.39%.
Skymark Airlines – Reuters is reporting that Airbus is set to sue Japan’s Skymark Airlines for breach of contract. The Japanese budget carrier had a contract for A380s terminated five months ago after the airline failed to meet its payment schedule. The announcement that Airbus will be taking Skymark to court in the UK caused the latter’s share price to close down by 16.49% on the Nikkei this morning; Airbus shares are currently slightly up, by 0.2%. 
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