Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters
13th Mar 2016 15:18
(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda
Read moreHome Retail's Argos sales improve at year-end
10th Mar 2016 07:46
(ShareCast News) - Home Retail Group reported an improvement in sales at its Argos stores in the final eight-week trading period for the financial year ended 27 February. The FTSE 250 company, which recently sold Homebase and is currently the subject of a bidding war between South African retailer S
Read moreSainsbury reserves right not to proceed with formal bid for Home Retail
3rd Mar 2016 14:34
(ShareCast News) - Sainsbury cautioned investors it might not go ahead with a formal bid for Home Retail Group. However, the company simultaneously backtracked on the conditions announced on 2 February for any such bid; namely, the completion of its due-diligence of its rivals' books and a recommend
Read moreWednesday broker round-up
24th Feb 2016 15:28
(ShareCast News) - Standard Chartered: UBS reiterates neutral with a target price of 510p, JP Morgan stays at overweight, 725p target and Morgan Stanley keeps at underweight with a target price of 370p. Home Retail Group: Canaccord upgrades hold with a target price of 175p. Capital & Countries Prop
Read moreSainsbury's wins 18 March Home Retail bid extension
23rd Feb 2016 09:11
(ShareCast News) - Sainsbury's has been given until 18 March to improve or call off its bid for Argos owner Home Retail Group, after Frankfurt-listed giant Steinhoff International gatecrashed the party. The grocer sought an extension from the Takeover Panel for its "put up or shut up" deadline to be
Read moreTuesday newspaper round-up: Facebook, Cameron, Oil, Sainsbury's
23rd Feb 2016 07:21
(ShareCast News) - Mark Zuckerberg has launched a passionate defence of Free Basics, Facebook's limited free mobile internet service that was banned in India this month, as he promised to continue to push the programme in other developing countries. Talking publicly about the setback for the first t
Read moreFTSE 250 movers: Home Retail leads risers over possible bidding war
22nd Feb 2016 15:29
(ShareCast News) - The FTSE 250 was firmly in the black on Monday, up 124.90 points (0.77%) to 16,282.96 by mid-afternoon. Home Retail Group led the risers following media reports over the weekend that Sainsbury's could seek an extension to the Takeover Panel's 18 March deadline, after South African
Read moreHome Retail surges ahead of possible bidding war
22nd Feb 2016 08:20
(ShareCast News) - Shares in Home Retail surged on Monday following media reports over the weekend that Sainsbury's could seek an extension to the Takeover Panel's 18 March deadline, after South African retailer Steinhoff made an offer to the Argos owner. Late on Friday, Home Retail confirmed it had
Read moreSunday newspaper round-up: GSK, Sainsbury's, BT, Imagination Technologies
21st Feb 2016 17:23
(ShareCast News) - Financial institutions in the City of London are fairly pleased with David Cameron's agreement with the European Union ahead of June's referendum as it looks to have secured the Square Mile from excessive further Brussels red tape. A potentially painful sticking point has been avo
Read moreSocGen cuts Sainsbury's, says Home deal increases risk profile
3rd Feb 2016 11:08
(ShareCast News) - Societe Generale downgraded Sainsbury's to 'hold' from 'buy' and slashed the price target to 260p from 310p following the announcement of its offer for Home Retail Group. The bank said the timing of the deal was inappropriate, with UK food retailing still facing challenging market
Read moreHome Retail shareholder Old Mutual supports Sainsbury's offer
3rd Feb 2016 10:21
(ShareCast News) - Old Mutual Global Investors, which has a 3.6% stake in Home Retail Group, has come out in support of Sainsbury's bid for the FTSE 250 retailer. It said on Wednesday that it regards the offer as "fair", taking into account the acceleration of the Argos transformation plan within Sa
Read moreBroker tips: Home Retail, Britvic, AG Barr, Shell
2nd Feb 2016 15:36
(ShareCast News) - Home Retail had its 'sell' rating reiterated by Canaccord Genuity on Tuesday after the company agreed on the terms of a takeover bid from J Sainsbury. Sainsbury's has offered £1.3bn for the owner of Argos, equivalent to 161.3p a share. Home Retail shareholders will receive 55p in
Read moreHome Retail a 'sell' after Sainsbury's takeover offer, says Canaccord
2nd Feb 2016 09:48
(ShareCast News) - Home Retail had its 'sell' rating reiterated by Canaccord Genuity on Tuesday after the company agreed on the terms of a takeover bid from J Sainsbury. Sainsbury's has offered £1.3bn for the owner of Argos, equivalent to 161.3p a share. Home Retail shareholders will receive 55p in
Read moreLondon pre-open: Stocks seen lower as attention turns to construction data
2nd Feb 2016 07:30
(ShareCast News) - London stocks are expected to open weaker on Tuesday, as investors look to the release of UK construction data. The FTSE 100 is seen starting 36 points lower than Monday's close at 6,024. "The latest manufacturing PMI numbers out of the UK showed a modest pickup in economic activ
Read moreSainsbury's and Home Retail agree deal
2nd Feb 2016 07:11
(ShareCast News) - Sainsbury's and Home Retail have come to an agreement over the terms of a deal that values the FTSE 250 retailer at about £1.3bn. Home Retail shareholders will receive 55p in cash and 0.321 Sainsbury's shares for each of their Home shares. They will also receive a payout of 25p p
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