Tesco surges to strongest growth in 18 months as squeeze put on rivals, says Kantar
10th Mar 2015 09:20
Tesco has enjoyed its strongest performance in 18 months with sales up 1.1% in the past 12 weeks, as the industry price war created record levels of deflation, according to fresh data from Kantar Worldpanel. Increasing sales have helped Tesco put the brakes on its skidding market share, which is dow
Read moreFTSE 100 movers: Exane boosts StanChart, sees buy-backs at Glencore
9th Mar 2015 14:04
Analysts at Exane BNP Paribas have hiked their price target on shares of Standard Chartered to 940p from 875p but write that that the chances of a dividend cut are now greater than 50%. On the plus side of things, the broker adds that the lender can now probably avoid a capital increase. On the subj
Read moreMonday newspaper round-up: Euribor probe, Greece, Tesco
9th Mar 2015 06:50
Former traders from Barclays and Deutsche Bank will be interviewed by UK fraud investigators in an ongoing criminal probe into the alleged rigging of Euribor, writes the Financial Times. "The move raises the prospect for the banks that investigations into alleged manipulation of interbank rates will
Read moreFormer Morrison's tax chief sentenced to prison for insider trading
3rd Mar 2015 17:45
Former group treasurer and head of tax and WM Morrison, Paul Coyle, has been sentenced to one year in prison for insider trading. Coyle had pleaded guilty to two counts of using confidential information to trade in shares of Morrison's proposed joint venture partner Ocado between January and March 2
Read moreSunday newspaper round-up: Opec, HSBC, Afren bid battle
1st Mar 2015 15:52
A fierce dispute is set to break out within the key organisation behind fixing world oil prices, according to the Sunday Telegraph. The Organisation of the Petroleum Exporting Countries (Opec) is torn about who will replace the current secretary general of the world's most powerful group of oil prod
Read moreLondon close: FTSE slips from record as Greek uncertainty resurfaces
25th Feb 2015 16:28
Renewed concerns about Greece prompted a retreat from all-time highs on Wednesday as investors scaled back their appetite for risk after a rally the previous session. London's FTSE 100 ended the day down 0.2% at 6,935.38, pulling back after hitting a new record close of 6,949.63 on Tuesday. Recent
Read moreFTSE 100 movers: St James's Place rockets on strong annual results, Weir slips on oil price outlook
25th Feb 2015 14:14
Wealth management group St James's Place topped the risers after it impressed City analysts on Wednesday with a solid set of annual results, as strong cash generation led it to hike its final dividend by 50%. Profits came in well ahead of the consensus forecast of £533m. Hospitality group Whitbread
Read moreBroker tips: BHP Billiton, Morrisons, St James's Place, Sky
25th Feb 2015 11:39
Investec has hiked its target price for mining giant BHP Billiton from 1,323p to 1,552p after first-half results on Tuesday impressed the market, though the broker still kept its 'hold' rating. "BHP Billiton has gone some way to regaining market favour by delivering a solid set of interim results, r
Read moreShoreCap upgrades Morrisons to 'buy' after new CEO appointment
25th Feb 2015 09:23
Shore Capital has welcomed the appointment of David Potts as the new chief executive officer (CEO) of Morrisons, saying his experience and expertise may bring about a much-needed turnaround in the supermarket's sales performance, and share price. The broker upgraded the UK grocer from 'hold' to 'buy
Read moreLondon pre-open: Small retreat expected after Tuesday's record highs
25th Feb 2015 07:49
UK markets were expected to pull back slightly on Wednesday as investors tread cautiously following the new all-time highs reached the previous session. City sources predict the FTSE 100 will open around eight points lower than Tuesday's record close of 6,949.63. The index also reached a new intrada
Read moreMorrisons names former Tesco Asia head David Potts as new CEO
25th Feb 2015 07:10
Big Four supermarket chain Wm Morrison has named the former head of Tesco's Asian business as its new chief executive officer (CEO). David Potts, who is said to have more than 40 years' experience in grocery retailing, is expected to join the company on 16 March. Potts replaces Dalton Philips who w
Read moreMorrisons looks for new CEO and scraps Philip's controversial mist machines
12th Feb 2015 11:55
Retailer Wm Morrison said on Thursday it is "making good progress" with the search for a new chief executive as Dalton Philips is due to step down next Monday. Philips was fired last month after delivering the worst Christmas performance of the Big Four supermarket groups. Like-for-like sales exclud
Read moreSector movers: Supermarkets lead retailers higher on upbeat grocery data
10th Feb 2015 15:09
Retailers were at the top of investors' shopping lists on Tuesday after an acceleration in UK retail sales growth lifted sentiment, while supermarkets were supported by some upbeat grocery news from Kantar. UK-listed supermarkets such as Tesco and Morrisons were making decent gains in afternoon trad
Read moreGrocery sector accelerates but Tesco and Sainsbury's lose share, says Kantar
10th Feb 2015 09:27
Tesco returned to growth for the first time in a year, according to fresh data from Kantar Worldpanel, but lost market share as the sector grew as a whole, with Sainsbury losing its position as the second largest retailer by market share to Asda. The price war between supermarkets that has now seen
Read moreFTSE 100 movers: BT damaged by pension deficit worries, miners trading higher
30th Jan 2015 13:58
Telecoms giant BT declined despite beating analysts forecasts with a solid rise in profits in its third quarter, as it announced a new 16-year "recovery plan" to pay down its expanding pension deficit, which now stands at £7bn. The company also revealed that it would upgrade its fibre network with l
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