Broker snap: HSBC cuts Sainsbury target after CEO exit
30th Jan 2014 10:26
HSBC has reduced its target price for supermarket group Sainsbury after the exit of Chief Executive Officer (CEO) Justin King, who is stepping down after 10 years as boss. The bank kept its 'neutral' rating for the stock and has reduced its target from 380p to 360p to "reflect the increased risk fr
Read moreSainsbury boss King to quit, plays down M&S talk - UPDATE
29th Jan 2014 09:07
The Chief Executive of Sainsbury's is stepping down but played down talk that he could replace the boss of troubled rival Marks & Spencer. Justin King will quit the role on July 9th this year to be succeeded by Group Commercial Director Mike Coupe, the group said in a statement. There had been spe
Read moreSunday newspaper round-up: Supermarkets' property, Lloyds, UBM
26th Jan 2014 16:51
US activist investors are plotting to force Tesco, Sainsbury's and Morrisons to split off their property holdings, the Sunday Times reported. The plan, led by activist fund Elliott, would require them to put their property holdings into separate companies and to sell minority stakes on the stock exc
Read moreLondon close: Stocks sink sharply after global data comes in mixed
23rd Jan 2014 16:35
- Chinese manufacturing in contraction - Data from US comes in mixed - Pearson, easyJet, Petrofac and ARM fall techMARK 2,827.81 -0.71% FTSE 100 6,773.28 -0.78% FTSE 250 15,980.13 -1.03% Mixed economic figures from across the globe weighed heavily on stocks on Thursday, with UK markets retreating
Read moreLondon midday: Markets slip after China data, Pearson tumbles
23rd Jan 2014 11:25
- Chinese manufacturing unexpectedly contracts - PMI figures from Eurozone beat forecasts - Raft of US data due out later on - Pearson and easyJet drop after updates, M&S upgraded techMARK 2,848.63 +0.02% FTSE 100 6,811.34 -0.22% FTSE 250 16,125.92 -0.13% After a subdued start, the FTSE 100 turned
Read moreBroker snap: JPMorgan keeps 'underweight' stance on UK supermarkets
23rd Jan 2014 10:05
Supermarket stocks were trading in the red on Thursday after gloomy comments from JPMorgan Cazenove about the issues and misconceptions surrounding companies' property valuations. The bank reiterated its 'underweight' positions on UK grocers Morrison, Sainsbury and Tesco. Morrison, which owns the
Read moreLondon open: Markets flat after mixed data from China, Europe
23rd Jan 2014 08:50
- Chinese manufacturing unexpectedly contracts - PMI figures from Eurozone beat forecasts - Raft of US data due out later on - Pearson drops after gloomy update techMARK 2,854.33 +0.22% FTSE 100 6,830.94 +0.07% FTSE 250 16,142.38 -0.03% The FTSE 100 opened more or less flat on Thursday as investor
Read moreMonday newspaper round-up: Vodafone, China GDP, Barclays
20th Jan 2014 07:20
Britain's biggest telecoms company has put its audit contract on the market for the first time in 26 years, as politicians at home and in Brussels ramp up the pressure on companies to break cosy ties with the firms that check their books. Vodafone, the second-biggest public company in Britain, has a
Read moreSunday newspaper round-up: Lloyds, Tesco, Mothercare, Legal & General
19th Jan 2014 15:44
The government could sell its next batch of Lloyds Banking Group shares as early as mid-February, the Sunday Telegraph said. The sale would be a book-build for institutional investors followed by a large offer to retail investors. Labour leader Ed Miliband's call for the breakup of Britain's biggest
Read moreFriday broker round-up UPDATE
17th Jan 2014 10:05
Aberdeen Asset Management: JP Morgan cuts target price from 544p to 529p, while its overweight rating remains unchanged. Canaccord Genuity reduces target price from 586p to 540p and reiterates a buy recommendation. UBS lowers target price from 540p to 520p and keeps a buy recommendation. Ashtead Gr
Read moreUS hedge fund sees Morrison uplift from property sale
16th Jan 2014 15:30
FTSE 100 grocer Morrison could boost its shares by 45 per cent if it hived off most of its property estate, according to a US hedge fund group that owns stakes in several UK supermarkets. Morrison, which owns the freehold of around 90% of its stores, in September suggested one of the possible stra
Read moreSainsbury's resists and Morrison's slips as discounters gain
14th Jan 2014 12:39
Sainsbury was the only one of the 'big four' supermarkets to hold onto market share and resist the ceaseless rise of discounters Aldi and Lidl and upmarket grocer Waitrose. As a whole, the sector enjoyed a better December of total market sales growing by 2.3%, following two periods of poor industr
Read moreLondon close: Morrison leads UK markets higher
13th Jan 2014 16:36
- FTSE 100 closes at highest since November 4th - Morrison gains on property sales rumours - Banks celebrate eased Basel rules - US Q4 earnings season in focus ahead of busy week techMARK 2,803.23 +0.05% FTSE 100 6,757.15 +0.26% FTSE 250 16,254.80 +0.39% After a choppy session, UK markets finished
Read moreFTSE 100 movers: Morrison regains recent losses on dividend hopes
13th Jan 2014 15:17
Supermarket group Morrison was the top riser this afternoon as it continued to recover after a steep fall last week following a bigger-than-expected drop in like-for-like sales over Christmas. Broker Shore Capital said it expects activist investors to continue to show interest in Morrisons as report
Read moreSector movers: Morrison leads supermarket comeback after press speculation
13th Jan 2014 15:14
Supermarkets were lifting the food and drug retail sector higher on Monday as stocks recovered following a tough week for the industry. Morrison, Tesco and Sainsbury were all making decent gains in afternoon trade after all three grocers disappointed investors with poor like-for-like (LFL) sales ov
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