Morrisons appoints Post Office boss Paula Vennells as non-exec director
12th Nov 2015 10:42
(ShareCast News) - Morrisons had appointed Post Office chief executive Paula Vennells as non-executive director with effect from the start of January next year. Vennells has been CEO of the Post Office since April 2012, having joined the company in 2007. Before that, she was group commercial directo
Read moreBroker tips: Rolls Royce, Drax Group, Morrison, Tesco
10th Nov 2015 13:02
(ShareCast News) - Shares in engineering giant Rolls-Royce slid after Exane BNP Paribas slashed its price target on the stock to 685p from 840p to reflect an additional pullback in the civil aerospace margin and further pressure on shorter-cycle activities. Exane said Rolls, which it rates at 'neutr
Read moreTuesday broker round-up
10th Nov 2015 09:28
(ShareCast News) - Hochschild Mining: RBC Capital Markets upgrades to outperform, cuts target price to 85.00p. Drax Group: Deutsche downgrades to sell. Target price: 220.00p. Morrison Supermarkets: Deutsche downgrades to sell, cuts target price to 155.00p. Aggreko: Berenberg Bank upgrades to hold,
Read moreMorrison and Tesco slump on Deutsche Bank downgrade
10th Nov 2015 09:20
(ShareCast News) - Tesco and Morrison were under pressure after Deutsche Bank downgraded the stocks as it took a look at the UK food retail sector. The bank resumed its coverage of Tesco following a period of restriction, cutting the stock to 'hold' from 'buy' and chopping the target price to 210p f
Read moreUK retail sales slump as non-food growth slows, BRC-KPMG says
10th Nov 2015 08:42
(ShareCast News) - UK retailers endured subdued sales during October, with a disappointingly flat reading for the BRC-KPMG Retail Sales Monitor and a like-for-like decline for the month. October retail sales fell 0.2% on a like-for-like basis compared to last year. Total sales for the month rose 0.
Read moreLondon open: Investors anxious ahead of MPC's 'Super Thursday'
5th Nov 2015 08:30
(ShareCast News) - Investors in UK shares were anxious ahead of Thursday's meeting of the Monetary Policy Committee after remarks by US Federal Reserve chairwoman Janet Yellen on the previous day led traders to push up the odds of a December rate hike across the Pond. As of 0945 GMT the FTSE 100 was
Read moreLondon pre-open: MPC, central banks in focus
5th Nov 2015 07:07
(ShareCast News) - Investors were anxious ahead of Thursday´s meeting of the Monetary Policy Committee given the more 'hawkish' tone adopted by US Federal Reserve chairwoman Janet Yellen on the previous day. The Footsie was being called to start the day 11 points above Wednesday´s close of 6,412.88
Read moreMorrisons quarterly sales fall faster as price-cutting intensifies
5th Nov 2015 07:03
(ShareCast News) - Third-quarter like-for-like sales at Morrison Supermarkets fell at a faster rate than in the previous quarter and worse than forecast, mostly due to deflation from its part in the grocery industry's price war. On the upside, chief executive David Potts reiterated his previous guid
Read moreSunday newspaper round-up: Renminbi, GSK's pipeline, Brexit worry,
1st Nov 2015 16:08
(ShareCast News) - China's currency, the renminbi, could be promoted to the International Monetary Fund's list of global reserve currencies this week, sending an estimated $1trn (£650bn) of reserves flowing into the yuan. The momentous decision would give fresh impetus to Beijing's reform efforts, t
Read moreLondon close: Stocks rally ahead of Fed's interest rate decision
28th Oct 2015 16:14
(ShareCast News) - The London stock market closed higher on Wednesday before the Federal Reserve's decision on interest rates. The FTSE ended up 72.53 points to 6,437.80. The Fed releases its policy decision at 1800 GMT and is expected to keep rates at 0.25% amid low inflation and concerns about th
Read moreFTSE 100 movers: Glaxo jumps on results; Meggitt tumbles after profit warning
28th Oct 2015 13:10
(ShareCast News) - London's FTSE 100 index was up 0.8% to 6,415.65 at 1400 GMT as investors awaited the Federal Reserve's policy announcement, which is due after the European close. Pharmaceuticals giant GlaxoSmithKline was the standout gainer after its third-quarter revenue and core earnings per sh
Read moreMorrisons' CEO Potts ties up petrol station convenience deal with Terry Leahy
26th Oct 2015 14:58
(ShareCast News) - Morrison Supermarkets has agreed a deal to launch a pilot scheme where it will provide a convenience food offer in five petrol station shops owned by Motor Fuel Group (MFG). The group, which last month sold off most of its convenience stores for a cut-price £25m, will begin the tr
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 moreTesco loses share as supermarket sector prices fall further, says Kantar
20th Oct 2015 10:01
(ShareCast News) - The supermarket price war was continuing to rage in full force to the benefit of consumers, who were opting to pocket the savings, survey compiler Kantar Worldpanel said. In the 12-week period ending on 11 October overall supermarket sales were up by only 0.8% in comparison to a y
Read moreTesco and Morrison lose market share, Nielsen's dismal data shows
20th Oct 2015 08:18
(ShareCast News) - Two of the UK's three listed grocers saw their market share drop in the latest 12 week period, according to reports citing the latest data available from Nielsen, as the grocery sector suffered a rare fall in both sales value and volume in the last four weeks. In the four weeks to
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