Sunday newspaper round-up: Retailers, ECB, Floods
27th Dec 2015 18:20
(ShareCast News) - Hedge funds are sharpening their claws ahead of what they hope will be a raft of poor Christmas trading updates from several of the main High Street retailers next week. Their expectation is that a profit warning from Game Digital the day before Christmas Eve and another from Bonm
Read moreBroker tips: Retail stocks, Tullow Oil, Glencore
21st Dec 2015 16:28
(ShareCast News) - RBC Capital Markets downgraded Marks & Spencer to 'outperform' from 'top pick' and Associated British Foods to 'underperform' from 'sector perform' but lifted Dixons Carphone to 'top pick' from outperform, as it took a look at the general retail sector. As far as Dixons is concern
Read moreRBC Capital adjusts ratings on general retail stocks
21st Dec 2015 09:51
(ShareCast News) - RBC Capital Markets downgraded Marks & Spencer to 'outperform' from 'top pick' and Associated British Foods to 'underperform' from 'sector perform' but lifted Dixons Carphone to 'top pick' from outperform, as it took a look at the general retail sector. As far as Dixons is concern
Read moreFTSE 100 movers: Reports Rolls-Royce reps to meet major shareholder
7th Dec 2015 14:09
(ShareCast News) - The FTSE 100 started the week in the green, up 14.06 points (0.23%) to 6,252.35 by mid-afternoon Monday. Rolls-Royce Holdings led the charge after a report from Sky News that senior representatives of American fund ValueAct will meet the president of Rolls-Royce's aerospace divisi
Read moreAB Foods says currency pressures will lead to modest drop in earnings
4th Dec 2015 11:28
(ShareCast News) - Primark owner Associated British Foods reaffirmed its guidance for the 2016 financial year, saying currency pressures will likely lead to a modest decline in adjusted operating profit and earnings. In a statement at the company's annual general meeting, chairman Charles Sinclair s
Read moreDebenhams tumbles on Goldman downgrade
3rd Dec 2015 12:08
(ShareCast News) - Debenhams shares were under pressure on Thursday after Goldman Sachs downgraded the stock to 'sell' from 'neutral', pointing to slowing space growth. "As one of the UK general retailers wrestling with the online channel shift dynamic, and in recent times suffering from store-based
Read moreAB Foods profit hit by weak sugar prices, currency headwinds
3rd Nov 2015 07:51
(ShareCast News) - Associated British Foods posted a 30% slump in pre-tax profit for the year ended 12 September as the company was hit by lower sugar prices and adverse currency moves. The Primark owner said pre-tax profit came in at £717m, down from £1.02bn on revenue of £12.8bn, down from £12.94b
Read moreTuesday preview: ABF and Imperial Tobacco report full-year results
2nd Nov 2015 14:41
(ShareCast News) - Primark owner Associated British Foods is expected to report a 5% drop in adjusted full-year earnings on Tuesday, reflecting challenges at its sugar division. UBS predicts earnings per share of 98p, in line with consensus forecasts and management's guidance. "All divisions except
Read moreSugar taxes and food promotion clampdown could follow PHE obesity report
22nd Oct 2015 16:24
(ShareCast News) - A report by UK public health officials has found sugar taxes are an effective tool to combat obesity and has called for restrictions on food manufacturers and supermarkets offering deals on unhealthy foods and marketing to children. The report, 'Sugar Reduction: The evidence for a
Read moreBroker tips: AB Foods, Vodafone, Oxford Instruments
19th Oct 2015 16:59
(ShareCast News) - Berenberg downgraded Associated British Foods to 'hold' from buy', keeping the target price at 3,450p. It noted that since it upgraded the stock to 'buy' in February, the share price has increased by 10% while consensus forecasts for 2016 earnings per share have fallen 15% due to
Read moreBerenberg downgrades AB Foods on lack of short-term catalysts
19th Oct 2015 09:38
(ShareCast News) - Berenberg downgraded Associated British Foods to 'hold' from buy', keeping the target price at 3,450p. It noted that since it upgraded the stock to 'buy' in February, the share price has increased by 10% while consensus forecasts for 2016 earnings per share have fallen 15% due to
Read moreBroker tips: Diageo, Icap, ABF
16th Oct 2015 15:27
(ShareCast News) - HSBC initiated coverage of Diageo at 'hold' with a 1,830p price target, which implies 1% downside to the current share price. The bank said the stock is currently trading at 19.5x its calendar 2016e EPS of 93.97p, in line with the peer group PE average, and it would wait for a mor
Read moreSocGen downgrades AB Foods on valuation grounds
16th Oct 2015 09:29
(ShareCast News) - Societe Generale downgraded Associated British Foods to 'hold' from 'buy' on valuation grounds as the stock has hit its 3,300p price target. The bank said it continues to value ABF using a sum-of-the-parts with Primark valued at 20x estimated 2016 earnings before interest, taxes,
Read moreFTSE 100 movers: Glencore and Antofagasta lead blue chips higher
7th Sep 2015 15:20
(ShareCast News) - The FTSE 100 began the week on the front foot, lifted by commodities giants Glencore and Antofagasta. With less than an hour before the London session's close, the blue chip index was up 0.48% at 6,071.64 points. Glencore was surging on the back of its new plan to pare back its $
Read moreABF expects larger impact from FX on full-year profits
7th Sep 2015 07:46
(ShareCast News) - Full-year operating profits at Primark-owner Associated British Foods were set to take a larger than expected hit due to weakness in the euro and - especially in recent weeks - emerging market currencies. Factoring out foreign exchange rate movements, or at so-called constant exch
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