City&FinanceBriefing Inbrief Profits soar at Deutsche Bank l DEUTSCHE BANK, whose investment banking operations are one of the Citys biggest employers, is set to blast through all expectations of its profits for the third quarter. The bank said that it would report a 1.4 billion (1.2 billion) profit when it reports next Thursday. Analysts had predicted the bank would make about 811 million of profits. Bull run will go on, says veteran l VETErAN fund manager Anthony Bolton of Fidelity today told investors its not too late to cash in on the bull run. He flagged up the technology and consumer sectors for growth, warning that commodities and industrial firms were coming to the end of their rally. Despite the fact the market is well off lows, we expect the bull market to go on, he added. Peugeot slows as sales slump l CArmAKEr Peugeot Citron today reported a 7.7% slump in revenues. revenues tumbled to 11.78 billion (10.7billion) in the third quarter although it increased its market share in Europe from 12.9% to 13.4%. The stock of cars on its books was down 36% since the start of the year to 400,000 as it slowed production and flogged vehicles already made. Disney signals an end to DVDs l TECHNology touted by Disney will allow consumers to ditch DVDs and access films by platforms ranging from the internet to mobile phones. Disney has been showing the technology, codenamed Keychest, to other studios and technology firms as customers turn to computers and mobiles rather than DVD players and TVs. Australia Dollars 1.6740 Canada Dollars 1.6041 Denmark Kroner 7.7516 Eurozone Euro 1.0445 HongKong Dollars 12.0600 Japan Yen 140.6600 NewZealand Dollars 2.0224 SouthAfrica Rand 11.1800 Sweden Kronor 10.8400 Switzerland Francs 1.5774 UAE Dirham 5.6503 UnitedStates Dollars 1.5656 TourisT raTes DOWN 0.35 at 5243.05 fTse 100 Dow jones nikkei -$ DOWN 50.71 at 10,041.48 DOWN 3.45 at 10,333.39 UP 0.96c at $1.6478 >>for all the latest City share prices, call 0905 817 1694* or visit thisismoney.co.uk * Calls cost 75p/min from a BT landline & last approx 1 min per quote. not all stocks are available Twitter is happy to go it alone The boss of Twitter today said he had no regrets about turning down Facebooks $500million (300 million) takeover offer last year. In San Francisco at an internet summit, evan Williams, chief executive of the social networking service, said: It doesnt get more interesting by being part of a bigger company. Last month he raised $100 million valuing the business at $1billion, however, he added that growth in US traffic had slowed. Staycationers brighten the Homebase picture FROM Britons turning their backs of foreign holidays this year and splashing out on swish new tellies instead, to householders tarting up their kitchens and bathrooms, Argos and Homebase have had a good recession. The Home Retail Group said Homebase saw a 66% rise in profits, offsetting a 7% dip at its Argos division. That enabled it not only to beat its own forecasts for the year so far but also top City estimates, with a 121 million profit for the six months to the end of August. If you told me last winter or in the spring it was going to turn out like this, I would have taken it, said chief executive Terry Duddy. Trading got better and has been better than expected. Homebase has reported its first like-for-like growth in three years, aided by the demise of MFI. This has seen its move into selling big- ticket kitchen, bathroom and furniture items pay off. Argos has suffered from a fall in sales in video gaming, but partially offset that by customers finding other ways to entertain themselves. We have had fantastic sales of televisions to the point when one in five TVs in Britain is now sold by Argos, said Duddy. We have benefited by the staycation [holidaying at home] and the ensuing growth in home entertainment. People have been upgrading their TVs whether in terms of screen size or [high definition] HD. Home Retails interim dividend is held at 4.7p. Milking it: Todd Stitzer used the figures to defend Cadbury Tasty profits as Cadbury fights off 10bn bidCadbUry today bolstered its defence against a proposed 10.2 billion takeover by Kraft Foods by forecasting stellar annual results. Todd Stitzer, chief executive of the UK chocolate maker, said in a third-quarter trading report that revenues and profits will be higher than expected. he also described Cadbury as a very strong, independent, standalone business. Chairman roger Carr looked to a bright future for Cadbury as a pure-play, stan- dalone confectionery business and the shares rose 2p to 802p. Cadburys US rival Kraft stunned the City last month when it launched the takeover offer for Cadbury, which was rejected. Cadbury reported a 7% rise in revenues for the third quarter, beating even the most bullish forecasts, and raised its sales growth target for the full year from 4% to 5%. Stitzer said: These are excellent results. This is a message to the financial community that our business is robust. analysts believe Kraft, which was being advised by Wall Street dealmaker bruce Wasserstein before his death last week, will wait until after its own third-quarter update on 3 November before raising its bid. BY HUGO DUNCAN London Lite Wednesday, 21 October 2009 37 index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html40.html41.html42.html43.html