Thursday broker round-up UPDATE
14th Nov 2013 09:21
Afren: Goldman Sachs moves target price from 260p to 270p and retains its strong buy recommendation. APR Energy: Citi raises target price from 1250p to 1350p reiterating a buy recommendation. Atkins: Investec places both its target price (prev.: 1025p) and its reduce rating under review. Babcock
Read moreBroker tips: Schroders, Morrisons, Halfords
7th Nov 2013 11:07
Panmure Gordon has maintained its 'hold' recommendation for fund manager Schroders, saying that the stock's valuation is full after its third-quarter results. The broker said that the shares have flat-lined on a relative basis and look "fully valued" against his 2014 price target of 2,740p. "The sh
Read moreBroker snap: Morrisons' Q3 tough but outlook improving, says Jefferies
7th Nov 2013 10:18
Morrisons is still a 'buy' despite a tough third quarter, according to Jefferies, with the outlook for the rest of the year on an improving trend. Like-for-like (LFL) sales in the third quarter declined by 2.4%, worse than the 2% fall Jefferies estimate and the consensus forecasts for a 1.7% decrea
Read moreMorrisons poised for online launch after in-line third quarter
7th Nov 2013 07:09
- Q3 in-line and guidance maintained - Like-for-like sales down 2.4 per cent - Convenience stores doubled, online poised Like-for-like sales fell but total turnover increased in line with expectations for the third quarter at Wm Morrisons Supermarkets, which progressed with manoeuvres to catch up w
Read moreSunday newspaper round up: M&S, CBI Europe warning, Morrisons
3rd Nov 2013 13:29
The founder of Dunelm, who is Marks & Spencer's biggest private investor, has backed Chief Executive Marc Bolland, the Sunday Telegraph reported. Bill Adderley said Bolland is a "hard worker" and that "too big a deal" has been made of disappointing results at M&S's non-food business. The billionaire
Read moreBroker snap: Jefferies updates grocers with Morrison and Tesco picked
22nd Oct 2013 13:27
Jefferies' European Retail Team noted that demand in the grocery industry has remained weak overall, although Morrison has strengthened and Sainsbury's remains "the winner". With demand "weak" and grocery industry growth having remained "pedestrian" in the four weeks to October 13th, total till rol
Read moreWednesday broker round-up UPDATE
9th Oct 2013 07:57
Air Partner: Liberum Capital initiates with a target price of 555p and a buy recommendation. Alent: Credit Suisse moves target price from 420p to 430p and keeps an outperform rating. AZ Electronic Materials: Credit Suisse revises target price from 350p to 330p, while staying with its neutral ratin
Read moreLondon close: Late rally not enough as FTSE 100 falls for fourth straight day
2nd Oct 2013 16:43
A slight bounce in the UK-listed mining sector saw the FTSE 100 rally on Wednesday afternoon but the index still finished firmly in the red, setting a fresh one-month low as political uncertainty in the US and Italy continued to weigh on sentiment. The FTSE 100 finished down 22.51 points at 6,437.5
Read moreFTSE 100 movers: Supermarket stocks take a hit
2nd Oct 2013 14:45
Coca-Cola HBC continued to slide lower to become the biggest faller this afternoon. However, much of the focus was on supermarket giant Tesco today as it registered steep losses after disappointing the market with its interim results. Half-year underlying pre-tax profit fell 7.4% to £1.4bn as an i
Read moreSector movers: Food retailers hit by falling profits at Tesco
2nd Oct 2013 14:33
The food retail sector was suffering on Wednesday afternoon after some heavy falls from supermarket giant Tesco, as the company reported a fall in profits for the first half. Smaller rival Sainsbury was also trading in the red, as investors seemed underwhelmed with an acceleration in sales growth i
Read moreLondon midday: ECB, political uncertainty in focus as stocks fall
2nd Oct 2013 11:27
The FTSE 100 suffered steep losses on Wednesday morning as buyers showed caution ahead of a policy decision in Europe, whilst political uncertainty in the US and Italy continues to erode risk appetite. The all-important European Central Bank (ECB) policy decision is due at 12:45 this afternoon, tho
Read moreLondon open: FTSE 100 near three-month low as supermarkets disappoint
2nd Oct 2013 08:21
UK markets sank sharply on Wednesday morning given the uncertain outlook for the US economy in light of a partial government shutdown as politicians continue to disagree over a budget proposal for next year. Disappointing results from retail bellwethers Tesco and Sainsbury were also weighing on sen
Read moreLondon close: FTSE 100 falls to two-week low
25th Sep 2013 16:41
Heavy falls from Carnival, Tesco and utility stocks weighed on the FTSE 100 on Wednesday while uncertainty over the US budget and Federal Reserve monetary policy continued to dampen sentiment. London's benchmark index finished 19.93 points lower at 6,551.53, a fall of 0.3% on the day. This was the
Read moreSector movers: Supermarkets fall as competition from budget retailers ramps up
25th Sep 2013 14:10
Supermarket stocks were among the worst performers on Wednesday afternoon as gloomy comments from JPMorgan Cazenove weighed on sentiment. Tesco was the heaviest faller after the US bank downgraded its rating for the stock from 'neutral' to 'underweight', saying that the company will be the most aff
Read moreBroker snap: JPMorgan says Tesco feeling pressure from Aldi, Lidl
25th Sep 2013 10:17
Supermarket group Tesco was hit by a downgrade on Wednesday by JPMorgan Cazenove from 'neutral' to 'underweight' after the bank said that the company will be the most affected by structural problems in the UK food retailing industry. "The discounters (Aldi, Lidl) are disrupting the price/range arch
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