Broker snap: Morrison deal could be 'game changer' for Ocado, says Prime Markets
14th Mar 2013 10:49
Shares in online grocer Ocado rocketed on Thursday morning after the company confirmed alongside its first-quarter update that it would help supermarket chain Morrison to launch an internet shopping website, something that could be a 'game changer', according to Prime Markets. The group said that i
Read moreLondon open: FTSE 100 rises early on as Morrison jumps
14th Mar 2013 08:36
Strong gains for Prudential, Morrison and Aggreko helped push London's benchmark index into positive territory on Thursday morning, as traders showed optimism following recent bullish forecasts. US banking giant Goldman Sachs hiked its near-term target prices for the FTSE 100, saying that the index
Read moreOcado Group confirms talks with Morrisons as it posts sales jump
14th Mar 2013 08:00
Online grocery firm Ocado Group revealed it was in negotiations with Morrison Supermarkets to launch a shopping site as it posted a 14.4 per cent rise in sales. Ocado is in discussions to help Morrisons set up a grocery website the UK as more consumers opt to do their shopping online. It may le
Read moreLondon pre-open: Stocks to inch higher following gains in the US
14th Mar 2013 07:28
City sources predict the FTSE 100 will open up three points from yesterday's close of 6,482, tracking gains seen in the US overnight. The main US equities edged higher Wednesday as US retail sales in February beat forecasts. Commerce Department figures revealed retail purchases jumped 1.1%, twice
Read moreMorrison moves online as it posts profit decline
14th Mar 2013 07:03
Morrison Supermarkets announced Thursday it was launching a shopping website as the company reported its first annual profit decline in six years. The company said it is in talks with Ocado Group to launch a online food store in 2014 in an effort to improve performance as shoppers move online. Th
Read moreThursday preview: Morrison to report annual profit decline
13th Mar 2013 15:08
Morrison Supermarkets is expected to report its first profit decline in six years when it unveils its 2012 results on Thursday. Pre-tax profit is forecast to slip to £876m from £947m, according to Jefferies International. "The upcoming finals should be an important milestone for Morrisons," the b
Read moreMonday newspaper round-up: RBS, Tesco, Man U...
11th Mar 2013 06:47
The one billion pound sale of RBS's Williams & Glyn branches could gather speed on Monday as Andrew Higginson - the man leading a takeover attempt - holds meetings with a series of investors backing a bid for the 316 branches, says The Telegraph. The paper reports that the 17-member investor consort
Read moreMorrisons confirms date of Finance Director's board exit
8th Mar 2013 10:53
Supermarket chain Morrison has confirmed that Finance Director Richard Pennycock will stand down from the board on April 2013, and be replaced by Trevor Strain, Group Finance Director Designate, the same day. The announcement came as Pennycock was unveiled as the non-executive Chairman of online r
Read moreWednesday broker round-up UPDATE
6th Mar 2013 07:03
Advanced Medical Solutions: Investec takes target price from 68p to 74p and maintains a buy recommendation. Aggreko: Citigroup reduces target price from 2550p to 2100p, while keeping a buy rating. Ashtead Group: Citigroup raises target price from 590p to 660p leaving its buy recommendation unalter
Read moreSainsbury increases market share in wake of horsemeat scare
26th Feb 2013 14:05
J Sainsbury is the only one of the four largest UK supermarkets to increase its market share as the industry was hit by the UK's horsemeat scandal, according the data from Kantar Worldpanel Tuesday. Spending at the British grocer rose 4.6% in the 12 weeks to February 17th and market share increase
Read moreLondon close: Footsie gains one per cent on German ZEW, M&A activity
19th Feb 2013 17:00
The FTSE 100 jumped one per cent on Tuesday after a better-than-expected reading of German confidence and increased M&A activity in the US. The ZEW Institute's index, which measures economic sentiment in the Eurozone's largest economy, surged to 48.2 in February, ahead of last month's reading of 31
Read moreFTSE 100 movers: InterContinental Hotels dives on falling RevPAR
19th Feb 2013 15:28
Holiday Inn owner InterContinental Hotels became the worst performer on the FTSE after saying that revenue per available room (RevPAR) had fallen 5.2 per cent in 2012. Nevertheless, strong growth in the US and cost cuts helped to produce a 10 per cent increase in operating profits. Vodafone Group
Read moreTuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
Read moreSector movers: Supermarket stocks hit by ongoing horsemeat scandal
15th Feb 2013 15:16
The horsemeat scandal in the UK continued to take its toll on the supermarkets on Friday, with food retail stocks among the worst performers of the day. Walmart's Asda said this morning that it was forced to take its 'Chosen By You 350g Beef Bolognese' sauce off its shelves following the detection
Read moreFriday newspaper round-up: Morrisons, Rolls-Royce, Tullet Prebon...
15th Feb 2013 06:55
Morrisons appears to be the biggest winner from the horsemeat scandal after the supermarket chain reported an 18 per cent rise at its fresh meat counters in the wake of revelations over tainted food. The retailer said it had posted the double-digit increase since horse DNA was first identified in Te
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